Enhanced Settlement Summary (ESS) | Supporting our members

[SamanthaK]

The Enhanced Settlement Summary (ESS) has been redesigned to reduce friction so that you can experience a simpler, more streamlined way to completing the financial settlement schedule. We’ve been working with our members on a phased roll out over the past months, with the national roll out recently completed on the 17^th May 2021. In addition to the support provided by our PEXA Partner teams, PEXA’s Member Training & Capability team is pleased to have supported our members throughout this exciting change by hosting 19 webinars for over 2,200 attendees. Although our initial ESS webinar series has now come to a close, we’re committed to continuously supporting you and have compiled a list of additional resources below:   

• ESS webinar recording here.
• Step-by-step ESS help card - attached to this post.
• Our dedicated ESS page here.
• Functionality overview and FAQs here.

As always, our knowledgeable Member Support team is on hand to help on 1300 084 515. Alternatively, you can email our dedicated ESS inbox at ess@pexa.com.au.

Completing the Financial Settlement Schedule (FSS) | Recorded Webinar

If you'd like to learn more about completing the Financial Settlement Schedule (FSS), incorporating the ESS, you can watch our webinar recording here.

[RebekahD]

We’ve been advised that some members have encountered an issue where the Mortgagee on Title has selected the “assign to me” for the Vendor’s Surplus in situations where they are not handling surplus. Please note that the “assign to me” function currently does not allow a practitioner to take this assignment away from the Mortgagee on Title and assign it to themselves instead. The Mortgagee on Title who has selected “assign to me” in error must unassign it from themselves. If for some reason they fail to unassign, the following steps can assist practitioners who are handling surplus:

If, for example, the Mortgagee on Title had selected “assign to me” in error, a Practitioner acting for the Proprietor on Title can enter a Destination line item for Vendor’s Surplus. Noting that the amount for this line item will not be auto-calculated as part of the FSS, but the amount can be manually entered. This will reduce the auto-calculated amount for the Mortgagee on Titles Vendor’s Surplus, by that amount entered.

We’re always eager to hear about your experiences in order to help us continually enhance the Financial Settlement Summary. Our teams are in the process of reviewing and refining “Assign to me” over the coming months. If you have any feedback, please let us know here or within the Workspace via the “Feedback” tab.