Incoming Mortgagee to view Transfer

[BGoodwin]

Hi,

Traditionally as Incoming Mortgagee we have asked to see the Transfer prior to settlement to check for example the purchase price, tenancy and transferee's.

In PEXA whilst the transferee's are self evident, we would still like to check the other information.

We can of course ask for a copy of the rendered transfer from the Incoming Proprietor's representative, but I feel it would be easier if the Incoming Mortgagee could "view (only)" the Transfer in the Workspace. What do you think?

[GeorgePolus]

Hi

A genuine thank you for your suggestion. 

We are most certainly open to this suggestion.  I can see that a participant in the role of Incoming Mortgagee needs to see information on the Transfer such as tenancy of incoming proprietors, consideration and incoming proprietor name details.

Data visibility rules in PEXA are defined externally to PEXA.  However, based upon your feedback I have conducted initial consultation.  At this point I have met with no resistance to your suggestion.   That said, before we can make any changes to visibility rules I trust you will understand that more formal consultation will have to be completed. 

Subject to external stakeholder agreement we will work to implement the update to visibility rules as you suggest. 

Please stay in touch so I can update you as we progress consultation and scheduling of updates.  

[GeorgePolus · Accepted solution]

Hi

As I mentioned earlier, initial informal consultation has not highlighted any immediate road blocks to implementation of the relaxation of visibility rules in PEXA.  The next step is to formalise consultation. 

To that end I have prepared a short paper for the Australian Registrar's Working Group (ARWG) seeking their consideration of your request to relax the visibility rules.  I will submit the paper to the ARWG in the coming days.  The next meeting of the ARWG is Feb 2017.  I will let you know the outcome.

[GeorgePolus · Accepted solution]

Hi @BGoodwin

Hi Barry, 

ARWG met yesterday.   A change to PEXA visibility rules was approved.  

I have added the request to change PEXA visibility rules to our development backlog.  

[LG]

Hi @GeorgePolus

Do you know when the ability to view the transfer will be released? 

[GeorgePolus]

Hi Lindsay,

This item has not yet been scheduled.  It is most definitely on the backlog.  I will have an answer for you shortly, when our planning cycle for the coming months is completed.

Rgds

George 

[GeorgePolus]

Hi Lindsey

Update to document visibility rules to allow the incoming mortgagee to view the rendered form of the transfer of land will be deployed as part of PEXA Release 6.1 scheduled for July 24, 2017.  

Let me know if you have further questions. 

Regards George 

[BGoodwin]

Hi George,

This didn't make the cut for Release 6.1?

Regards,

Barry

---

@GeorgePolus wrote:

Hi Lindsey

Update to document visibility rules to allow the incoming mortgagee to view the rendered form of the transfer of land will be deployed as part of PEXA Release 6.1 scheduled for July 24, 2017.  

Let me know if you have further questions. 

Regards George 

---

Barry

[GeorgePolus]

Hi Barry,

Unfortunately, although this item was originally scheduled for 6.1, when presented with other lenders, there was debate about what the visibility rules actually need to be.  The result was, that consensus was not achieved in time to make Rls 6.1.  

I have spoken with the Financial Services team and asked them to let me know when to expect agreement on a solution and the expected release date.   I will keep you posted. 

Rgds

George 

[LG]

Hi @GeorgePolus

Was their disagreement about needing visibility or what we could actually view? I would be happy with just being able to view the completed document i.e. not having the "edit" function.