Hi Tonya,
Thank you for raising your concern.
We measure guideline adherence and provide reporting into the major Financial Institutions on a weekly basis.
As per Guideline 18a within the Transfer Guidelines, the Mortgagee on Title should submit the final payout figure no later than 10am on settlement day. While financial institutions are always striving to improve performance, we can share that this metric is being adhered to in the majority of Workspaces. There is a concentrated effort to drive towards 100% in this space. You can read more in bank blog #2 here.
You will also note in bank blog #3 here the scale of the change being undertaken by the major banks as well as ongoing initiatives and progress.
However, while we are closely monitoring and reporting on this we appreciate this may not be inline with your experience and we'll be in contact for specific details to further assist you.
Regards,
Cam
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