We understand that settlement certainty is of the utmost importance to both our members and their clients.
One of our key priorities at this time is collaborating with all parties to ensure we’re continuously enhancing this experience.
In line with this work, we’ve recently introduced new workspace features, including:
- Lodgement verification being completed prior to SDV
- Auto-calculation of vendor surplus for MoT and now PoT, which is also being trialled for the IM
- Due dates attached to tasks in the WS
Our latest data indicates that two common causes of delays to settlement are:
- Ready for Shortfall indicated by the IP to the IM
- Returning of correct/complete loan documentation
To assist with this, we are introducing new workspace alerts to highlight to the IP when these items remain outstanding in the final days before settlement is scheduled. To monitor if these alerts are helping improve settlement certainty, approximately half of our SA members will start to see these alerts on their Dashboard from 7 December. We hope that this information will provide you some visible prompts as to where to follow up items, or perhaps assess the possibility of rescheduling the settlement date, if at all possible.
We’re running an initial trial of this in South Australia – and we’d love your feedback to help us continue to refine this new initiative.
If you have any questions or thoughts, please share them below.