About Caz_at_Astills

Caz_at_Astills · ‎11-02-2020

I act for a mortgagee and do quite a lot of discharges where our client is being refinanced. The incoming bank will send the PEXA invite with a settlement date nominated but still "pending" from their side as below: My issue is that if I don't accept that settlement date and the date is subsequently accepted by the incoming mortgagee, I don't receive any notification. This creates issues as I have to keep going back into the workspaces to see if settlement has been accepted by the incoming so I can book settlement and order the payout with my client (obviously this is not productive). Alternatively I have to accept the settlement date and order the payout only to have the incoming advise they're not ready (usually once payouts have been provided) and push settlement back (again not productive). Is there anyway that notifications can be tailored to individual needs so that I can receive notification once any party accepts the settlement date instead of just all parties as it is now?

Caz_at_Astills · ‎28-11-2019

Hi @joyihkao - lodgement of documents to the titles office happens during the PEXA settlement process. Registration and the issuing of a Registration Confirmation Statement, for most states, will issue the same day as settlement. In SA the registration process is a little longer. Documents are lodged for registration during the settlement process and Registration Confirmation will usually take between 2 - 5 business days. Hope this helps!

Caz_at_Astills · ‎28-11-2019

Hi TJ, if the transfer documents have been lodged prior to the caveat then they would take priority anyway. With PEXA registration is usually instant or at least same day (expect SA). A priority notice is always a good idea in Qld but would not stop registration of a caveat prior to lodgement of the transfer. The good thing with PEXA transactions is that you are notified of title activity straight away. Hope this helps.

Caz_at_Astills · ‎25-10-2019

I know this has been raised previously but is there any progress on allowing a redacted version of the loan account number to be shown to the other parties when the bank loads their payout figure (eg. showing the last 4 digits). I do a lot of discharges and am constantly having to provide these details to the incoming bank so they can confirm they are paying out the correct loan. Being able to see the account number once the payout is loaded would save a lot of time and provide clarity to all parties as to the debt being repaid. Thank you.

Caz_at_Astills · ‎11-04-2019

Thanks to TJ, Emily and Siobhan for organising such a great event and to everyone at PEXA that gave their time to speak to us and share their passion and vision for the future. I highly encourage everyone to use Community to share ideas, seek answers and guidance from other users and provide assistance in return when possible. It's great to know that PEXA takes all feedback, comments and suggestions seriously - not something you can say about many service providers! Keep the conversation flowing and things can only get better

Caz_at_Astills · ‎28-03-2019

Hi Lina As a panel lawyer for an FI I would always set up a separate linked workspace but that is just my preference as it keeps the 2 transactions separate and easier to communicate with the other participants (the borrower's conveyancers usually don't have anything to do with the refinance). I would suggest to your incoming mortgagee that they split it.

Caz_at_Astills · ‎28-03-2019

Hi Sonia Firstly, welcome to the world of PEXA! In relation to your post, I note that this is not something you'd receive in the paper world either. But, having said that, you can click on the transfer in the documents tab to expand and it will show you the registration status and give you a dealing number. Hope this helps.

Caz_at_Astills · ‎12-02-2019

Wow, they're getting clever.

Caz_at_Astills · ‎04-02-2019

Hi Kate I agree with Vanessa, this would be a great tool. Acting for an incoming mortgagee I often have conditions on my loan that certain loans are repaid but I cannot identify these from the workspace. I understand the privacy issue so perhaps showing the last 3 digits of the account number could solve that. Thanks

Caz_at_Astills · ‎06-12-2018

Hi all How long does it usually take for registration confirmation in SA for PEXA transactions? I had 3 refinances settle on Tuesday (acting for incoming bank) and all 3 are still showing docs as lodged but unregistered. Thanks in advance.

Caz_at_Astills · ‎15-11-2018

Acting for a FI I often have linked workspaces for purchase and refi components of my loan. It would be great if you could if there was a hyperlink that could take you directly to the linked workspace eg clicking on the workspace ID would open the linked workspace rather than having to go back to dashboard. Thanks

Caz_at_Astills · ‎30-08-2018

Thanks @Clarkee

Caz_at_Astills · ‎30-08-2018

I've had 2 workspaces stuck in "settling" today, one for over 2 hours. Is there some sort of technical issue? They are in different States too. Thanks

Caz_at_Astills · ‎01-08-2018

I totally agree that the dashboard needs to be improved in this regard. As a Banking and Finance paralegal my files need to be certified to my lenders within certain timeframes in order for funds to be sent for settlement. At the moment an outgoing bank can accept my invitation (sometimes a week earlier) but not accept the settlement date. I don't get any notification if the original settlement date is accepted (only if they propose a new one). Because the dashboard shows the settlement date even if it is pending by other parties I have to go into each individual workspace to see if the dates are still pending or not. It would be helpful if I could see this info from the dashboard - eg. the date is red until accepted by all parties. Then you can tell at a glace if you need to follow up. Thank

Caz_at_Astills · ‎31-07-2018

Coming back into the legal game after over 4 years in the valuation industry I had no idea what PEXA would be like to work with. I returned to my paralegal roots with a Banking and Finance role at Astills Lawyers where we act for several lenders in all states around Australia. Our conveyancers also assist clients with property transfers in Qld, NSW, VIC and SA. As we only have the one office located on the Gold Coast, PEXA is an invaluable tool for us in achieving fast and efficient settlement outcomes for all our clients no matter where their property is located. PEXA has provided us with fantastic one on one training, encouragement and support through our PEXA Direct specialist, Morvanna Jones. From my perspective, some of the main advantages in using PEXA are: Direct support from our PEXA direct specialist, Morvanna; Ability to create workspaces for all States; Efficiency in providing loan funds for settlement (ie. no longer needing to order bank cheques); Ability to link lodgements for borrowers who are purchasing and refinancing allowing simultaneous settlements with the click of a button!; Automatic rollover of settlement time when workspace is not ready (no more trying to organise 3-4 parties to change the settlement time at short notice 😊); Title activity reports providing up to date details of title activity without the added expense to clients for title searches; Short transfer times of clear funds to all parties in the workspace upon settlement (no more waiting for bank cheques to clear); Expedited registration of documents and receipt of registration confirmation statements allowing is to confirm security of our clients’ loans almost immediately; Creation of documents within the system which reduces the chance of errors and requisitions.

Caz_at_Astills · ‎28-06-2018

I agree that any password re-set should have a prompt to create an new one on the first login. I also think that the Conveyancer in this instance needs to take responsibility for not checking all details prior to sign off. Unfortunately hacking and cyber crime are common place in today's society and no one is immune. I would suggest a notification can be created in PEXA to alert the user when an account detail is changed at any time after the original input. The media on this story has been very one sided and I have seen an anti-PEXA sentiment on my social media. I would like to add though, I was disappointed to only learn about this story through a worried client. I think PEXA should have emailed all users to advise what had happened and give a timely reminder to check all account details prior to sign off (especially if there had been a resent password reset).

Caz_at_Astills · ‎18-06-2018

Thanks @Ames, glad Friday's settlements ended up proceeding but this is good information for the future. It may be helpful to have a PEXA "what if" guide or something similar available that covers these scenarios. That way we'd be able to search for the answers here on community and not have to clog the helpline with calls and emails when there are system issues. cheers

Caz_at_Astills · ‎15-06-2018

Hi Emily What happens if the problem isn't resolved by 5pm for workspaces that are stuck in "settling" stage? Thanks

Caz_at_Astills · ‎20-03-2018

It would be great with the email Notifications if we could individually tailor them to users needs. Eg. I would love to get an email when another party has accepted the proposed settlement date as this effects my ability to certify to my bank client. Other uses may not like this therefore it would be great if we had the ability to tailor our own.

Caz_at_Astills · ‎18-07-2017

Thanks for the response Cate. As we have multiple memorandums which would need to be registered in multiple states I was hoping that the ability to upload for registration in PEXA might be possible. Is this something PEXA would be looking at incorporating in the future?

Caz_at_Astills · ‎18-07-2017

Question: We are panel lawyers for several banks and will be transferring control of the CT to the bank following the next PEXA release. Will we still receive the Registration Confirmation Statement if we do not control the CT?

Caz_at_Astills · ‎11-07-2017

We act for several private lenders who have 28-30 page mortgage memorandums which we normally attach to the mortgage and lodge as one document ie. a 30 page mortgage. We act in all States. Whilst you can upload a copy of the memorandum for future reference to files, we are unable to load these to be annexed to the mortgage document for lodgement as we would in paper. What is the electronic work around for this?

About Caz_at_Astills

Notification settings for Settlement Date

Re: REGISTRATION

Re: REGISTRATION

Visible (redacted) account numbers on payouts

Re: Introducing the Community Superusers for 2019

Re: NSW Purchase & Refinance settlement

Re: Transparency - Registration of Ownership (QLD)

Re: Security alert | phishing e-mail

Re: REFINANCE

Registration timeframes in SA

Linked Lodgement workspaces

Re: Workspace stuck in "Settling"

Workspace stuck in "Settling"

Re: Dashboard display for outstanding settlement d...

My PEXA experience

Re: MasterChef finalist conveyancer hack prompts P...

Re: PEXA issue

Re: Electronic Lodgement Network - Service Issue

Re: Notifications

Re: Mortgage Memorandum

VIC: Allow a CT Controller to Transfer CT Control ...

Mortgage Memorandum