PEXA is pleased to present a major release of the PEXA System, Release 9.0, scheduled for business go live 5 November 2018.
Currently a Workspace that is Not Ready at the scheduled settlement time is automatically rescheduled by 90 minutes. In this release, we will reduce the rescheduled time to 30 minutes (i.e. next available settlement time) which means less waiting and a faster settlement turnaround. Furthermore, we will allow a Workspace to automatically reschedule up until 5:00 PM AEDT^ (previously 4:00 PM AEDT), which will give you more time to settle Workspaces that had not been able to settle earlier in the day. Any Workspaces that remain Not Ready at 5:00 PM AEDT will have its settlement date and time removed and a new date and time will need to be proposed. Title Activity Checks and Stamp Duty Verification (where applicable) will continue to run within the hour prior to the scheduled settlement time.
(Referencing PEXA SETT-5580, SETT-2556)
We’ve introduced a new opt-in functionality that allows Subscriber Managers to turn on Manually allocate Workspaces. To access this setting, go to Administrator Tools > Manage Subscriber Details > Ready to Sign – Allocation Preferences. By default, Automatically allocate Workspaces is selected.
When Manually allocate Workspaces is selected, users can add or remove pre-approved Workspaces to or from the Ready to Sign dashboard. This means you have more control over which Workspaces appear in the Ready to Sign dashboard and sign approved Workspaces with minimal on-screen clicks.
With Manual allocation of Workspaces turned on in ABC Conveyancing, junior law clerks can manually add or remove pre-approved Workspaces to the Ready-to-Sign dashboard. Senior lawyers are then able to review the subset of Workspaces that are ready for signing and use the current efficient signing to sign Documents with minimal on-screen clicks.
In addition, we’ve made other improvements to efficient signing:
(Referencing PEXA FS-3270)
Note: Initially this functionality will be piloted with 5% of our member base. After actioning any feedback we’ll progressively enable this screen for all members.
To help you quickly assess the health of your Workspace and pinpoint outstanding items, the new Workspace Summary screen consolidates all the statuses and indicators you need to determine why your Workspace isn’t Ready/Ready. This will save you navigating through the Workspace in search of outstanding items.
Additionally, each item that you need to action will be clickable and actionable, simplifying and streamlining your work. For example, if your document hasn’t been signed, you’ll be able to click on the Sign document link and be taken to the signing screen.
The new Workspace Summary will also be mobile responsive! So you’ll be able to easily check up on your settlements even when you’re not in the office.
(Referencing PEXA AXL-991)
As part of the changes made to reduce the automated reschedule time to the 30 minutes, we will provide the ability to configure the frequency in which emails will be sent to alert you of such an event.
Your Subscriber Manager will have the ability to configure this setting based on your organisation’s preferences under your Subscriber Details.
(Referencing PEXA SETT-)
Fromthis release, PEXA will no longer support Sequential Settlement and Sequential Lodgement and these functionalities will be removed from the application.
(Referencing PEXA SETT-6037)
To help you complete your transactions in PEXA, we’ve added a number of new Walk-Thru’s designed to help you achieve specific tasks:
Be sure to try them out. We also have Walk-Thrus specifically designed for Subscriber Managers:
To access the Walk-Thrus, click the Help widget on the right-hand side of the screen and select the Walk-Thru you’d like to run.
If you have any feedback on any of the current Walk-Thrus or if there’s something you’d love to see in action, please comment below and we’ll see what we can do!
(Referencing PEXA WM-000)
From this release, PEXA core is rebranded as PEXA Exchange. As part of the rebranding, we’re introducing the PEXA Exchange logo. This is to help differentiate between PEXA offerings as we launch more products and services to assist with your settlements. If you’re already using multiple platforms in the PEXA suite – such as PEXA Projects when acting as Mortgagee on Title for a development project – you can access these via the app menu (top right corner of your account), making switching between platforms quick and easy.
We have updated the Title Activity Check (TAC) in Western Australia to ensure that a positive TAC is displayed only for new activities on the land title that has not been previously returned. This ensures that incoming parties are not having to repeatedly provide approval for activities that were previously approved.
On the day of settlement, if a positive TAC is returned, the incoming parties will only need to ‘confirm settlement execution’ if a new title activity has been returned from the Land Registry for the first time. All subsequent TAC responses received for the same activity will be displayed as no activity against the Land Title.
This change now aligns the behaviour of WA TACs to all other jurisdictions.
(Referencing PEXA SETT-)
In mortgages where the Mortgagor's name differs from the name recorded on Title, you can now use a National Mortgage to justify the discrepancy (SA).
Use the justification functionality on the Party screen to provide the current name and the reason for the name change. Under Has this Party previously held land in any Other name(s), select Yes.
Note: The following Justification Reasons are not valid for use with an SA National Mortgage:
If any of these justification types are selected, the SA National Mortgage Lodgement Verification will be unsuccessful.
(Referencing PEXA LS3-1123)
PEXA now supports a standalone Survivorship Application in South Australia (also known as ‘Application to Register Death by Survivor).
If a joint tenant on a property title passes away, then the surviving proprietor should make an application to the Land Registry to have the deceased’s name removed, so that only the surviving proprietor’s name is on the title.
In South Australia, a Survivorship:
For information on how to do this, please refer to the help article Standalone Survivorship Application.
For Release 9.0 the following scenarios are supported:
In December 2018 (Release 9.0.1), Survivorship with a Transfer document in the same Workspace will be supported. During the interim period, please complete a standalone survivorship Workspace in advance of a transfer Workspace.
(Referencing PEXA LS4-228)
In the jurisdictions of SA and QLD, PEXA now displays Other Interests on title under a new panel on the Land Titles screen. Previously, this information was not available in PEXA. Should the Interest be related to another Interest (e.g. a Sub-Lease of a Lease) then the association will be noted as follows:
In addition, Interest Holders are now created as Unrepresented Parties and appear on the Participants screen. Only Subscribers in the role of To deal with an Interest or Incoming Mortgagee can edit Interest Holder parties. All other roles can see the Interest Holders but won’t have permission to edit their details.
As of R9.0, only Victoria supports transactions with Interest Holders.
For more information, refer to the Community posts:
(Referencing PEXA LS3-874, LS3-873)