07-11-2018 02:26 PM - edited 07-11-2018 03:16 PM
We had a matter scheduled to settle at 12.30pm, today. We sent a "conversation" to ANZ at 11.33am, no response or action, we sent a further two conversations also no response. ANZ, who were the Discharging Mortgagee, had not signed the Discharge of Mortgage or Cord Holders Consent however they had managed to sign the Financial Statement. After no response to our "conversations" we rang ANZ we were on hold for over 30 minutes and then put on hold again, while they spoke to their Release Team...telephone operator's returned with the reply "OK now".
No apology or reason given for not reponding to our conversations. When asked why ANZ had not responded to our "conversations" was advised it was done now (the signing).
So, we were unable to leave our computer or phone for over 2 hours but that's "OK" by ANZ.
How is this reasonable or acceptable or fair to other participants within the workspace? How does this equate to PEXA saves us time?
on 12-11-2018 12:43 PM
How do I private message you and why is it necessary? The matter has now settled therefore cannot see any security issues.
on 13-11-2018 12:43 PM
Please do not take this as a condescending comment or an excuse for the telephone manner you described.
Most large banks are getting thousands of conversations daily.
The conversation function in PEXA is not an instant messaging or chat function that is monitored in real-time. Hence the guideline response times of "Within 4 business hours after receiving notification, if settlement is in 2 business days or less."
Given the volume of transactions being processed, sending a conversation within 2 hours of settlement is, for most banks, going to be largely ineffectual from an escalation viewpoint. Similarly, any follow-up conversations closer to settlement are not going to improve the priority of the transaction being reviewed.
The telephone support line you contacted was exactly the right approach for this 'day of settlement' issue and escalation, which appears to stem from a human failure in the process to sign the FSS but not the document.
on 13-11-2018 03:10 PM
Thank you, Morri.
We would like to invite you to our office and experience a busy conveyancing team. The banks are not the only ones busy. To quote Cory - Occasional Contributor - and his comment under the topic Banks are not taking this seriously - '...GUESS WHAT? this is a busy industry". We note with interest their problem was also with ANZ
Rather then reducing staff the banks should be hiring additional staff, who are competent and can communicate with other teams/departments within their organisation.
In regard to your comments to guidelines and response times...why are the banks not monitoring PEXA in real time? Why have the conversation tab if, it is not going to be used and responded to? Our office monitors PEXA and the "Conversation" entered and we endeavour to response promptly. We never received a reply, from ANZ, to a conversation we entered 3 days prior to settlement.
We are certain when we undertook our PEXA training using the conversation tab was readily encouraged and advised was the correct course of action. Saves waiting on hold...we understood one of the aims of electronic conveyancing was to reduce our need to ring the banks and be put on the endless wait/hold cycle.
What does escalation mean? How many time have we all been told by the bank's telephone operator they have sent an "escalation" email to their verification team or settlement team or file owner and nothing happens. You ring, again, and go thru the same scenario.
We together with other legal representatives should not be chasing the banks 2 hours prior to settlement to do their job. We assume, like us, the banks have access to Workspace summary - Outstanding Tasks, Documents, Tasks and Notifications, these features within PEXA show any outstanding item you may have.
Bottom line is all banks should be made to enter payout figures in a reasonable and acceptable time to all parties and we should not have to chase them, either by PEXA or phone. The morning of settlement is NOT ACCEPTABLE OR REASONABLE OR FAIR to be entering pay-out figures.
13-11-2018 04:30 PM - edited 13-11-2018 04:32 PM
Just fyi, the reason @MarianAbraham has asked for the Workspace ID via private message is that we do take a very conservative approach to customer and transaction details on Community. You're probably right in that the security risk is minimal, given the matter has settled.
However, Workspace ID's are still pieces of customer information; workspaces are persistent in PEXA so you can access all of that sensitive information in it years after settlement by revisiting the workspace (if, and only if, you maintain a role within the workspace).
You can private message by hovering over a person's display picture which will bring up this pop up with the send message button:
on 27-11-2018 10:23 AM
I am finding ANZ the worst lender to deal with at the moment. Trying to see if there anything I do wrong. But so far mostly all settlements where ANZ mortgagee on title are getting delay. ANZ not accepting date and time for settlement on time. All guideline provided by them is followed. Discharge sent at least month in advance and invitation provided soon as contract signed and received.
Currently struggling with settlement that should be done in 2 hours. Conversations confirming that discharge received and under assessment a month ago. Only to receive a delay message 24 hours before the settlement close to midnight. Currently on hold for 43 min trying to get through to ANZ. Called first thing in the morning and person on the other line could only apologize for the delay and no answer what so ever why. Said that matter has been escalated numeriouse time and that MSV team has not proceed as yet and reason not known. Said someone will call me shortly. Now after 2 hours of waiting, calling them again and sitting on waiting. Settlement is schedule in 2 hours.
Very frustrated and angry!!!!!
27-11-2018 10:34 AM - edited 27-11-2018 10:48 AM
Good morning Natalie
We hear you and feel your frustration.
We believe all legal representatives should start sending banks tax invoices for all the extra time, we are spending on chasing banks to do their job, especially when they delay settlement for no known reason.
on 27-11-2018 10:42 AM
This is exactly what I am thinking and definitely we should be compensated for our time. And I will do exactly this as my patient is out. Therefore if anyone agree, we should just all do it.