A National Mortgage document is a Land Registry instrument and is sometimes interchangeably referred to as a mortgage in PEXA.
It is created when a financial institution, holding an executed mortgage with a customer over a land title, wishes to register that new mortgage encumbrance on the land title. A mortgage document in a PEXA Workspace can be used for both standalone mortgages and new mortgages as a part of a Refinance process.
Only an Incoming Mortgagee can create a mortgage document in a PEXA workspace. The National Mortgage document is then created on the Document screen under Create Documents > Mortgage. All details for the selected mortgage are then entered in the National Mortgage screen.
For more information see > Create a National Mortgage Document.
