on 17-05-2017 07:27 PM
In recent days we've experienced following situations on 2 different workspaces:
Could we have a checkbox (like the one for Discharge Authority Received) or a status indicator that confirms that bank has received/checked mortgage dox, is ready to settle and just needs to complete/sign FFS & electronic dox?
It would be great to have visibility of bank status without the need to start a conversation
on 18-05-2017 09:31 AM
Hi Marcus, that is a really good idea and i understand your frustration. PEXA is always looking at streamlining processes as a direct result of feedback from all who use it. I have no doubt that as we speak PEXA is working hard to alleviate a lot of this kind of issue....watch this space!
on 18-05-2017 09:58 AM
Great suggestion! Our product road map does include expanding the checklist capability that was launched recently for Discharge Authority to also include the status of Loan Documents. Have you used the Discharge Authority checklist by chance? (located on the Workspace Summary screen when an Mortgagee on Title is involved). If so, if this was expanded to include the status of Loan Documents when an Incoming Mortgagee is involved (i.e. IM indicates that Loan Documents have been received and checked), do you think this would help?
PEXA Product Owner
on 18-05-2017 01:50 PM
I prefer not to use the "DA Sent" box as I don't want to encourage banks to think that it's our role
However, the "DA Received" box is very helpful.
99% of the time settlement agents are waiting for banks to become ready to settle, rather than the other way round. Greater transparency on their progress towards readiness would reduce the need for conversations to find out.
Perhaps the bank could have a status bar that progresses thru the various stages:
Mortgage dox signed & received / All loan conditions fulfilled / Paper Dox checked / Authority to Debit Equity held / Ready to settle
on 24-05-2017 01:01 PM
Yes, these statuses would be very helpful for us to get some visibility on the progress of the bank, without having to send them a conversation.
on 09-06-2017 06:50 PM
Great comment Marcus,
This would be great to be able to have a tracking system for the bank. Showing documents sent to client, documents returned from client, documents in verification, documents verified etc. and then we know what stage everything is at rather than sending conversations asking all of this.
on 11-06-2017 03:19 PM
These are great ideas - thanks so much all!
We are looking at expanding the "checklist" flow within PEXA so that the conversation tool becomes more the exception to the process. Will certainly take these thoughts and comments into consideration when looking at the next iteration of the Checklists in PEXA.
Keep the suggestions and thoughts coming