PEXA is pleased to present the next release of the PEXA System, Release 5.1, scheduled for business go live 6 March, 2017. In this minor release, PEXA introduces:
Changes to settlement resilience and defaulting lodgement override;
VIC – Notice of Acquisition Regulatory Change (part 2);
Notification emails – Merging of Workspace Completion emails;
Notification emails – Lodgement Case Examination Completion emails;
Invitations – update of declining reasons;
Invitations – addition of optional field to include customer/loan number
Nominations - Re-wording of VIC Nomination question.
Settlement Resilience Change – Default Override
As part of this release, PEXA will automatically invoke the Lodgement Override functionality in the event that a Lodgement technical exception is encountered. Therefore, users will no longer need to opt into Lodgement Override for any new PEXA workspaces created.
As Lodgement Override functionality will be defaulted to always 'On', users will no longer have the option to select 'Lodgement Override' or 'Remove Lodgement Override' in the Financial Settlement Schedule.
Furthermore, the option to always default Lodgement Override to 'On' within a Subscriber's profile will be removed, as this question has become redundant as a result of this release.
VIC – Notice of Acquisition Regulatory Change (part 2)
The Notice of Acquisition for has been updated to align to the paper Notice of Acquisition. Additional fields include updates to ‘Primary Land Use’ values, option to add transferors contact details; option to add contact details for transferors and transferees and option to add ‘Name Title’ for transferors and transferees in the Participant screen.
(Referencing PEXA CR622)
Invitations – update of declining reasons
The reasons available for selection when declining a Workspace invitation will be refined to improve the clarity of the invitation decline reasons.
(Referencing PEXA AXL-417)
Invitations – additional of optional field list to include customer/loan number
When inviting mortgagees into a PEXA Workspace, there is now an additional field 'Customer Account/Loan Number' added to the invitation. This increases the likelihood of the mortgagee being able to identify the customer and accept the invitation.
The new invitation screen:
How the new invitation acceptance screen looks:
(Referencing PEXA CR590)
Workspace Completion emails
To reduce the number of emails you receive from PEXA, we have consolidated a number of them into one workspace completion email. This consolidated email will inform you that settlement has completed and list all the documents in the workspace, their statuses and dealing numbers.
(Referencing PEXA AXL-456 and AXL-478)
Re-wording of VIC Nomination question:
The 'control of title' question on the Nominations Screen for Victoria has been improved. The questions now refers specifically to electronic control, so there is no confusion between paper and electronic control of titles after a transaction is completed.
Specific Question Change:
FROM “Do you wish to retain control of the title after the transaction” To “Do you wish to retain eCT/electronic control of the title after the transaction”