About Jarrod_McAleese

One of the most critical steps in the settlement process is ensuring the Financial Settlement Schedule (FSS) is balanced and correct, ahead of time. This is one of the biggest contributing factors to a successful on-time settlement.   Leading up to settlement, late adjustments, unbalanced figures and last-minute Workspace conversations can all impact member experience – on both sides of the transaction.   In response to member feedback, we have developed an Enhanced Settlement Summary (ESS) that will provide a more intuitive experience for practitioners and financial institutions. The Financial Settlement Summary will still exist, but a new Summary will assist with the calculations to populate it.   To facilitate a smooth transition, this will be rolled out in stages nationally, across three phases, with the first of these set for a business go-live of Monday 12 October 2020 in South Australia.   Part 1 (South Australia: 12 October 2020 and National: February 2021 – TBC): Launching a new transfer indicator panel, providing improved transparency of key responsibilities in the Workspace for all parties. In addition, the enhancements will deliver a streamlined approach to calculating both Vendor Surplus and Shortfall for the Total Funds Required to settle. Part 2 (National: February 2021 – TBC): Delivering functionality enabling the Proprietor on Title representative to finalise their entries in the FSS, including the Vendor Surplus, without waiting for the Mortgagee on Title to finalise their loan payout figure. Part 3 (TBC): Providing more clarity regarding purchaser shortfall required for settlement – in matters where the financial institution is responsible.   Functionality overview Introducing the Enhanced Settlement Summary The Enhanced Settlement Summary tab has been redesigned to reduce friction so that you can experience a simpler, more streamlined way to completing the financial settlement schedule. As part of the redesign, you’ll notice a revamped interface that includes new features and panels. We have also introduced some calculations enabling practitioners and financial institutions to easily enter funds and complete the financial settlement schedule with more accuracy and less dependency. Key summary of changes A complete view of settlement funds New Transfer Indicators panel Balance due to Vendor System calculations Other improvements A complete view of settlement funds One of the notable improvements in the Enhanced Settlement Summary tab is the way the funds are displayed and laid out. There is a clear, side-by-side categorisation and itemised view of funds for both the incoming and outgoing parties, which replicates a balance sheet. The Enhanced Settlement Summary gives you a complete picture of the purchaser’s and vendor’s funds, all on a single screen. The specific breakdown of funds in each category for each party gives everyone in the Workspace greater transparency on the settlement funds. Information that is specific to your role will be automatically expanded, whilst items that belong to the other party will be automatically collapsed. To view or hide the itemised funds, you can expand or collapse the panels.     New Transfer Indicators panel A new Transfer Indicators panel provides a summary view of all key tasks that relate to the financial settlement in the Workspace, giving you greater transparency over key responsibilities for Workspace parties. The two new features in this panel include the ability to: View who will be directing the vendor’s surplus funds. Either the Proprietor on Title or Mortgagee on Title can assign responsibility for this task to themselves. View if the Balance due to Vendor* amount has been agreed by participants in the role of Incoming Proprietor and Proprietor on Title.   * Note: In this release notes, we’re referencing this amount as the ‘Balance due to Vendor’; however, the terminology differs in each jurisdiction: NSW—Amount due on Settlement VIC—Balance due to Vendor QLD—Balance due to Vendor SA—Balance due to Vendor by Purchaser WA—Balance due to effect Settlement ACT—Amount due to Seller     Balance due to Vendor New to the Enhanced Settlement Summary tab is the mandatory Balance due to Vendor* amount. This is calculated by the purchase price, minus deposit paid, plus/minus net adjustments. This figure is agreed by both the Proprietor on Title and Incoming Proprietor outside of the PEXA Workspace. Either participant will have the ability to enter this amount into the PEXA Workspace. Providing the Balance due to Vendor into the Workspace provides PEXA the ability to: Clearly indicate to all participants the amount of funds available for the Vendor to disburse, and Use this figure to drive the Purchaser Funds Required to Settlement calculation (previously the Total Funds Required to Settle).   * Note: In this release notes, we’re referencing this amount as the ‘Balance due to Vendor’; however, the terminology differs in each jurisdiction: NSW—Amount due on Settlement ACT—Amount due to Seller VIC—Balance due to Vendor QLD—Balance due to Vendor SA—Balance due to Vendor by Purchaser WA—Balance due to effect Settlement System calculations As part of the Enhanced Settlement Summary, PEXA will calculate the vendor’s surplus, purchaser’s shortfall, and purchaser funds required to settle based on the line items entered by all participants and the Balance due to Vendor. These calculated figures result in a more streamlined experience by providing a consistent way of calculating the vendor’s surplus funds and the funds required to settle by the purchaser. Vendor’s funds: Previously, the Mortgagee on Title and Proprietor on Title had to initiate a Workspace Conversation to determine which party was directing funds. Where the outgoing Financial Institution was to collect all funds from settlement, a Workspace Conversation was also required to confirm the amount to be disbursed. With the Enhanced Settlement Summary, the Unallocated Funds amount represents the remaining funds available to be disbursed to the Vendor. When the Proprietor on Title has completed entry of the Vendor’s line items, the Unallocated Funds calculation provides the Mortgagee on Title a clear indication of the remaining funds available. Once the Mortgagee on Title creates the loan payout(s) required, then the Unallocated Funds will be the amount required to be disbursed to the Vendor’s nominated account. Purchaser funds required to settle: Previously, the Incoming Proprietor had to manually calculate the Total Funds Required to Settle and enter this value into the PEXA Workspace. With the Enhanced Settlement Summary, the Purchaser Funds Required to Settle (previously Total Funds Required to Settle) amount is now calculated by the system as the sum of the Balance Due to Vendor amount + Purchaser Payment Directions amount. When the Incoming Proprietor has completed entry of the Purchaser’s line items, the Purchaser funds required to settle will be the amount required by the Incoming Mortgagee. Note: The system calculations are only available where there is a single Transfer, no more than one Discharge, and/or no more than one Mortgage in the Lodgement Case. In scenarios where there is more than one Transfer, Discharge, or Mortgage document within the same Workspace, PEXA is unable to determine the nature of the transaction. Therefore, the Incoming Proprietor is required to manually calculate and enter the Total Funds Required to Settlement amount into the Workspace.   Other improvements Signing Status The improved Settlement Signing Status panel now clearly shows the signing status of each participant in the Workspace.​ Adding the signing status provides more meaningful context where dual signatures are required (visible only to the Subscriber who has dual signing enabled). ​ Completing line items Participants in the role of Incoming Proprietor are required to click the Ready for shortfall button (where the Incoming Mortgagee is handling shortfall) after they have completed entering their line items. This notifies the Incoming Mortgagee via a task and an on-screen button that they may now enter or update the shortfall amount. Participants in the role of Proprietor on Title are required to click the Ready for surplus button (where the Mortgagee on Title is handling surplus) after they have completed entering their line items. This notifies the Mortgagee on Title via a task and an on-screen button that they may now enter or update the surplus amount.   Entering shortfall amount If the Incoming Proprietor is responsible for providing shortfall funds, a button will appear on the Purchaser Funds panel, enabling them to either: Add as shortfall where the Purchaser’s Equity line item has not been created, or Update shortfall where an existing Purchaser’s Equity line item already exists. When they click this button, they’ll be directed to the Add/Edit source line item entry screen with the shortfall amount pre-populated based on the new calculations built by PEXA. Similarly, if the Incoming Mortgagee is handling shortfall, they will be presented with a task and either button above, after the Incoming Proprietor has clicked Ready for shortfall.   Entering surplus amount If the Proprietor on Title is responsible for directing the vendor surplus funds, a button will appear on the Vendor Funds panel, enabling them to either: Add as vendor surplus where the Vendor’s Funds line item has not been created, or Update vendor surplus where an existing Vendor’s Funds line item already exists. When they click this button, they’ll be directed to the Add/Edit Destination line item entry screen with the surplus amount pre-populated based on the new calculations built by PEXA. Similarly, if the Mortgagee on Title is handling surplus funds, they will be presented with a task and either button above, after the Proprietor on Title has clicked Ready for surplus.   More details   will   come over the coming   days , but in the meantime , please   visit   the  E nhanced Settlement Summary   site   to learn more   about this feature   or join the pilot group .   FAQs   Why is PEXA revamping the Financial Settlement Schedule (FSS)? PEXA is committed to continuously enhancing member experience – with your feedback playing a key role in driving our technical prioritisation. Member feedback has indicated that the FSS is an area the network has wanted to see us innovate and streamline for some time now. Ultimately, by delivering an Enhanced Settlement Summary to the network, our aim is to enable you to complete your required tasks on the day of settlement, without relying on other Workspace parties to first complete theirs – eliminating interdependencies and encouraging timely settlements. Which PEXA members will see the ESS from 12 October? The Enhanced Settlement Summary will be switched on for all South Australian members on 12 October, as part of a gradual, national roll-out plan over the coming months, to help ensure a smooth transition for industry. The ESS will apply to any Workspaces opened related to a South Australian property. We have been piloting Part 1 of the new Enhanced Settlement Summary with practitioners, panel law firms and financial institutions over the last six months and have refined the functionality in line with their feedback. Feedback has been positive, with peers noting the new view assists with getting the Workspace ‘Ready Ready’ more easily. Can other members opt in? Yes, members from other jurisdictions are able to opt in to have the new view activated. Please reach out to a member of the PEXA team should you wish to do so and we’ll kindly assist. What is PEXA doing to support members through this change? We recognise this is a significant change to your PEXA experience. As such, we’ve developed an extensive suite of learning resources to help you navigate this change.  Information on the rollout can be found here: https://www.pexa.com.au/sites/ess . Full Release Notes on Part 1 can be found here: https://community.pexa.com.au/t5/PEXA-Product-Releases/PEXA-Release-12-1-2-05-October-2020/ba-p/20967#ess . Further material (help cards etc) can be found here: https://community.pexa.com.au/t5/Help-Centre/PEXA-s-Enhanced-Settlement-Schedule/ba-p/20958 . From 23 September, our Training team will hold 7 South Australian webinars for practitioners and 2 individual webinars for financial institutions on the Enhanced Settlement Summary to ensure all members have an opportunity to see a live demonstration of the functionality and ask their questions to the experts.  Sessions will continue to be delivered by the team, as well as our PEXA Partners, in the months ahead. In addition, as always, our PEXA Partner team and Member Support Centre are here to support you. Sessions will be held in the different states as we roll out ESS nationally. What are the benefits of this for practitioners? As an Incoming Proprietor representative, practitioners will benefit from not having to calculate and enter the Total Funds Required to Settle (TFRS), have better co-ordination with the Incoming Mortgagee, see a reduction in keying of data and have less reliance on conversations to clarify responsibilities.  Where the Incoming Mortgagee is responsible for providing all funds, practitioners can generate a task to the bank to finalise their source funds required for settlement when they’ve completed entry of your line items. Similarly, when acting for the Proprietor on Title, practitioners will have more visibility over key responsibilities in the Workspace and will also benefit from the system calculations for the Vendor Surplus line items. This should reduce the number of conversations with the client’s bank in the Workspace.  Where the Mortgagee on Title is responsible for the Vendor’s surplus, practitioners can generate a task to the bank to finalise the Vendor’s funds when they’ve completed entry of your line items. What are the benefits of this for financial institutions? Financial institutions will see a reduction in errors and more Workspace clarity, in addition to greater certainty over the final settlement figures, reduced reliance on conversations and greater visibility of the status of the completion of the FSS. What changes are being made? Part 1 (South Australia: 12 October 2020 and National: February 2021 – TBC): Launching a new transfer indicator panel, providing improved transparency of key responsibilities in the Workspace for all parties. In addition, the enhancements will deliver a streamlined approach to calculating both Vendor Surplus and Shortfall for the Total Funds Required to settle. Part 2 (National: February 2021 – TBC): Delivering functionality enabling the Proprietor on Title representative to finalise their entries in the FSS, including the Vendor Surplus, without waiting for the Mortgagee on Title to finalise their loan payout figure. Part 3 (TBC): Providing more clarity regarding purchaser shortfall required for settlement – in matters where the financial institution is responsible. For more detailed information and screenshots of Part 1, refer to our Release 12.1.2 notes: https://community.pexa.com.au/t5/PEXA-Product-Releases/PEXA-Release-12-1-2-05-October-2020/ba-p/20967#ess. What happens if my Workspace is uploaded via PEXA Projects? The Proprietor on Title does not need to enter or sign off on the Balance Due to Vendor.  The Incoming Proprietor will be expected to enter this figure to drive the ‘Total Funds Required to Settle’ calculation, especially where the Incoming Mortgagee is handling shortfall funds.  The ‘Ready for Surplus’ button will still be available for the Proprietor on Title to click (on a per workspace basis), however as the POT is usually in control of directing their own funds, then this shouldn’t be an issue. Why is this being delivered in stages? As with any change, we want to ensure the process causes minimal disruption to your organisation’s day-to-day operations.  By rolling this out in stages, we hope this will make the changes as seamless as possible and enable us to quickly implement additional feedback from the network.   ... View more

Hi Community,   In Victoria, Subscribers in possession of a paper Certificate of Title are required to convert this to an electronic certificate, in order to deal with it via PEXA.   Per Particiation Rule 7.10 of the Participation Rules (PR), Subscribers to PEXA are required to certify that they have retrieved and either securely destroyed or made invalid duplicate paper Certificates of Title.   With Stage 4 restrictions currently in place for metropolitan Melbourne, in addition to Stage 3 restrictions in regional Victoria, some Subscribers have indicated that they or their clients are currently unable to retrieve paper certificates of title, preventing the fulfilment of their obligations.   In support of industry, the Victorian Registrar General has issued a Participation Rule waiver providing affected Subscribers with a partial waiver, which includes conditions that provide direction on navigating this issue. This is attached below. Land Use Victoria has also released a supporting Customer Information Bulletin. You can access this here.   The Registrar General advises that Subscribers should continue to provide the relevant certification within PEXA when completing a Convert pCT and Nominate to Lodgment Case, ensuring that they have fulfilled their obligations as certified prior to the waiver expiring.   If you have any questions regarding the above, please reach out to us.   ... View more

Australia’s financial institutions shoulder a significant amount of the property industry’s settlement volume. In peak periods, a single bank can process well over 1,000 transactions each day.   This places extreme demand on operational teams. To better manage their settlements, they needed a tailored solution for assessing and working through upcoming matters, to best coordinate staff and Workspaces settle on time.   This led to PEXA co-designing PEXA Planner, in collaboration with the financial institutions.   PEXA Planner is an application built for high settlement organisations, aiming to assist with the processing of Workspaces that are settling and not yet in Ready/Ready status.   It uses easy-to-read dashboards to provide greater detail on upcoming settlements, enabling users to quickly assess what actions must be taken in order to move the file to Ready/Ready status and to assist with overall task prioritisation.     Case study: ANZ   ANZ is one of the organisations nationally, that has introduced PEXA Planner to its settlement operations. Team Lead John McTiernan has been part of a unit that has utilised PEXA Planner over the last few months and he details their experiences thus far.   “ Initially, it was used so that we could see people’s workloads at different times, to assist with coordination. Additionally, it helped us follow up with team members, to say hey, do you need some help?   “But lately, we’ve been using it more intensely – we now have a dedicated PEXA Planner team. They work through each settlement time booked during the day, from start to finish. On a busy day, we’ll have up to 7 people on the PEXA Planner team – who are all working together to ensure settlements proceed on time, without rolling.   “The team divide up the times and say ok, I’ll take the 10.30am files, then they might identify that there’s a high number at 11.00am, so they’ll assign two people there. You’ll have another two people managing the 11.30am matters and so on.”   Key metrics   Since implementing PEXA Planner, ANZ has recorded Transfer Guideline adherence uplift in the below areas:   7% increase in Transfer Guideline: Invitation Response rate 6% increase in Transfer Guideline: Conversation Response rate 6% increase in settlements being completed without rolling Ascending to become the market leader among financial institutions in the % of Workspaces signed on-time Ultimately, the goal of the technology is to help financial institutions streamline operations and achieve timely settlements, something which John notes that PEXA Planner has aided.   “ There’s no way we could have done this without PEXA Planner.   “It enables us to chase our goal of getting all files signed 3 hours prior to settlement and without PEXA Planner, it would be very difficult to do.”   Navigating high volume periods   The industry has staple peak settlement times – the run-in to long weekends, end of financial year and the pre-Christmas rush are always on the radar for organisations.   But with 70% of property transactions now being completed online nationally, the ‘big days’ are more frequent. PEXA Planner, John shares, is an important tool when these occasions arise.   “PEXA Planner has already helped with getting us through those periods. We’ve had some very big days recently, we’ve had days with more than 600 settlements to work through – which is really high. Without PEXA Planner, those days would’ve been a lot harder.”   If you would like a demonstration or would like to gain access to PEXA Planner, please contact your PEXA representative or plannerinfo@pexa.com.au   If you’d like to learn more about PEXA Planner, check out our guide to the functionality here.   ... View more

Hi Community,   The NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA are currently providing a temporary solution to lodge presently out of scope paper documents through the PEXA Platform – the COVID-19 Residual Lodgement.   This process enables paper documents to be sent through to NSW LRS via a PEXA Workspace as a document in PDF format. The NSW LRS then treats the PDF version of the document as if it were being lodged in paper over the counter.   In line with PEXA Release 12.1.1, scheduled for go-live on Saturday 5 September 2020, 18 previously available documents within the COVID-19 Residual Lodgement process will be deactivated.   These will be replaced by 26 newly activated Residual Documents, which can be created and lodged directly via PEXA.   More information about lodging Residual Documents in PEXA can be found here. NSW LRS has also published an announcement on its website. You can read this here.   Please see below full lists.   List of deactivated COVID-19 Residual Lodgement documents:   Change of Address of Owners Corporation Change of Name Notice of Change of Address for Service of Notices or Name of Caveator Restriction on the Use of Land by a Prescribed Authority Transfer Altering Tenancy Consolidation/Change of By-Laws Positive Covenant Affecting Land Vested in a Prescribed Authority Restriction on the Use of Land Vested in a Prescribed Authority Change of Address of Association Charge Transfer Severing Joint Tenancy Positive Covenant Covenant Charge Discharge of Charge Variation of Mortgage Variation of Lease Transfer Creating a Profit a Prendre or Forestry Right Restriction on the Use of Land   List of newly activated Residual Documents:   Consolidation/Change of By-laws - s141 of the Strata Schemes Management Act 2015 Change of Name Change of Name of Lessee, Mortgagee or Chargee Variation of Lease - s55A Real Property Act 1900 Change of Address of Owners Corporation - s265 Strata Schemes Management Act 2015 Change of Address of Association - s21 Community Land Management Act 1989 Change of Address for Service of Notices of Caveator - s74N(3) Real Property Act 1900 Change of Name of Caveator - s74N(3) Real Property Act 1900 Positive Covenant - s88E(3) Conveyancing Act 1919 Positive Covenant (with Registered Interest Holder Consent) - s88E(3) Conveyancing Act 1919 Restriction on the Use of Land by a Prescribed Authority - s88E(3) Conveyancing Act 1919 Restriction on the Use of Land by a Prescribed Authority (with Registered Interest Holder Consent) - s88E(3) Conveyancing Act 1919 Restriction on the Use of Land - s88 Conveyancing Act 1919 Restriction on the Use of Land (with Registered Interest Holder Consent) - s88 Conveyancing Act 1919 Restriction on the Use of Land Vested in a Prescribed Authority - s88D(3) Conveyancing Act 1919 Transfer Severing Joint Tenancy in an Interest - s97 Real Property Act 1900 Transfer Severing Joint Tenancy - s97 Real Property Act 1900 Transfer Altering Tenancy (Joint Tenants to Tenants in Common in Equal Shares) - Real Property Act 1900 Transfer Altering Tenancy (Tenants in Common in Equal Shares to Joint Tenants) - Real Property Act 1900 Variation of Mortgage - s91 Conveyancing Act 1919 Transfer Creating a Profit a Prendre - s88AA Conveyancing Act 1919 Transfer Creating a Forestry Right - s87A Conveyancing Act 1919 Charge - s56(2) Real Property Act 1900 Covenant Charge - s88D, s88E, s88F(4)(a) Conveyancing Act 1919 Discharge of Charge Positive Covenant Affecting Land Vested in a Prescribed Authority - s88D(3) Conveyancing Act 1919   Please note than any of the 18 documents scheduled to be deactivated within the COVID-19 Residual Lodgement process that are not lodged before Friday 4 September 2020 will not be accepted by the NSW LRS.   After this date, you will be required to delete any applicable instruments and recreate them as Residual Documents for lodgement via PEXA.   If you have any questions regarding this change, please reach out to us. ... View more

PEXA is aware of a phishing email, purporting to be sent by a member of our team.     The email copied the contents of a  previous  legitimate  communication but  was sent from a fraudulent email address and contained a malicious attachment.     Please note that  legitimate  communications from our team or PEXA will be delivered from email addresses ending in “ @pexa.com.au ”.      Additionally,  PEXA will never send you an email advising you to click a link to access the PEXA Exchange and will always direct you to login to access your account via pexa.com.au.       As always, if you receive a similar phishing email or another communication you believe to be suspicious, please:     Do not respond   Do not click links or download attachments   Delete the email   Report it to your relevant security administrator or  e mail PEXA’s security team at  security@pexa.com.au .     We’d like to remind members to remain vigilant at this time and please reach out to us if you have any questions or would like any assistance.     Kind regards @DavidWillett  ... View more

NAB wishes to advise it has introduced a new online Mortgage Discharge Authority Form.   From Monday 3 August, NAB will no longer be accepting previous versions of the Discharge Authority Letter of Instruction – Discharges form.   Any forms completed, dated and signed after Friday 31 July 2020 will not be accepted and a new online Mortgage Discharge Authority Form will need to be completed.   The form can be located here: https://www.nab.com.au/content/dam/nabrwd/documents/forms/loans/nab-discharge-authority.pdf ... View more

Hi Community, The PEXA Subscriber Security policy has been updated. Attached are clean and marked up versions.   Kind regards, Jarrod ... View more

Hi Community,   As previously shared, the ACT Government has passed legislation enabling the introduction of digital property transactions in the Territory.   Ahead of a planned September go-live for industry, PEXA is inviting members to register their interest in being activated for the jurisdiction. For more information on eligibility to transact in the ACT, please refer to this page of the ARNECC website.   If you'd like to register, please complete this form and return it to registration@pexa.com.au.   Additionally, you may wish to join an upcoming training webinar, run by PEXA:   Tuesday 1 September, 2.00pm AEST: This webinar will cover all of the applicable steps required when representing the Proprietor on Title (Seller), as well as important Jurisdictional differences. https://us02web.zoom.us/webinar/register/WN_FE94nUvnSu2XFrl0_Fjecw   Thursday 3 September, 2.00pm AEST: This webinar will cover all of the applicable steps required when representing the Incoming Proprietor (Buyer) in the ACT via PEXA. https://us02web.zoom.us/webinar/register/WN_0CE7m9UpR9q0R72ENd6_rw   Kind regards, Jarrod ... View more

PEXA has deployed a new settlement notification feature for members, available as of Monday 3 August 2020.   This change will enable users to upload and attach files to emails distributed upon settlement completion.   As an example, you will be able to send real estate agents an 'Order on the Agent' PDF within the post-settlement communication issued to them.     For more information on settlement notifications via PEXA, please visit this link. ... View more

Hi members,   Please see attached below a notice from the Australian Registrars National Electronic Conveyancing Council (ARNECC). If you have any questions regarding this notice, please contact your local   Land Registry in your State or Territory:   VIC T: 03 9194 0601  E: trs.enquiries@delwp.vic.gov.au NSW T: 02 8776 3575  E:   eConveyancingNSW@nswlrs.com.au WA T: 08 9273 7373  E: paperlessconveyancing@landgate.wa.gov.au SA T: 08 8423 5000 (country callers 1800 648 176) E:   customersupport@landservices.com.au QLD T: 1300 255 750  E:   Titlesinfo@dnrme.qld.gov.au TAS T: 03 6165 4187  E:   Titles.Enquiries@dpipwe.tas.gov.au ... View more

Hi Community,   On Monday 3 August, the NSW Bank Holiday will see reduced settlement hours for NSW, VIC, SA and WA. Please note the following changes:   New South Wales Financial Settlement is available until 4pm AEST Lodgement is available as normal   Victoria Financial Settlement is available until 4pm AEST Lodgement is available as normal   Western Australia Financial Settlement is available until 2pm AWST Lodgement is available as normal   South Australia Financial Settlement is available until 3.30pm ACST Lodgement is available as normal   Queensland Lodgement and settlement times remain unchanged   For more information, please visit https://www.pexa.com.au/hours-of-operation.   Kind regards, Jarrod ... View more

  Hi Community,   While businesses are doing their best to adapt to COVID-19, scammers are looking for opportunities to exploit the current climate. As we previously shared, t he global COVID-19 pandemic has sparked a surge of phishing attempts on unsuspecting individuals. One such attack used the logo of the CDC Health Alert Network claiming to provide a list of local active infections, before stealing confidential information from the unprepared victims.   It's important we remain vigilant at this time and our  Head of IT Security,  @DavidWillett has put together the below quick checklists to ensure you're browsing safely while working and at your leisure.   How to keep safe while working online:  Ensure the device you are using has security software installed (either work supplied or your own) to protect you from ransomware, malware, and other threats Use a VPN (either company-provided or your own) when connecting to your work network to keep your data safe Only use WiFi you trust to reduce the risk of being hacked Make sure you have a backup solution in place such as a USB or the cloud in case something goes wrong Watch out for scams and fake news around COVID-19. Only trust reputable sources   How to keep the family safe online: Keep your operating system and applications (software updates) up to date to protect yourself from being hacked Make sure all the devices in your home (phones, tablets, PCs) have security software installed to keep you safe from online threats and risks Schedule screen time for kids and their device. You can do this by drawing up a timetable or using parental controls features of your security software Set ground rules by having a conversation on what they can do online Discuss the importance of online safety with your kids. You can read more here: https://www.trendmicro.com/en_au/initiative-education/internet-safety-kids-families.html Keep an eye out for more security tips and tricks from our team here at PEXA. If you have any questions, please leave them below.   ... View more

Hi Community,   As you’re aware, the annual CPI fee increase for PEXA’s online lodgement and financial settlement service typically comes into effect on 1 July.   However, as previously announced, in light of current circumstances, PEXA fees will not increase at the beginning of the financial year – instead, the current pricing schedule will remain effective until January 2021.   As is usual, any future price adjustment will be in line with the Model Operating Requirements which are set and governed by ARNECC and will be calculated based on the Consumer Price Index for March 2020 (ABS 6410.0).   Additionally, fees for each of the Land Registries have been updated, with any revisions taking effect from 1 July 2020.   Links to Land Registry announcements: NSW SA QLD VIC (no change) WA   If you have any questions, please leave a comment below.   Kind regards, Jarrod ... View more

Hi Community,   The busy End of Financial Year period is fast approaching and it’s important we all work together to ensure we can navigate the rush together. One way to assist the network with managing the impending high volume of transactions is to more evenly distribute settlement times throughout the day, when possible. Our data routinely shows that 12pm and 2pm AEST are the most popular settlement times. Despite this, half an hour either side, 11.30am and 2.30pm, are significantly less so. You may notice a message pop up within the PEXA Exchange prompting you to consider proposing a different settlement time – we encourage you to do so. By choosing a settlement time other than 12pm or 2pm you will be helping to spread settlements out across the day and ease the pressure on network parties, particularly the banks. Industry’s shared goals are to ensure seamless settlements and deliver the best outcomes for buyers and seller and supporting one another is key to achieving these.   To further assist you, we recommend you consult the ‘Bank Transfer Checklists’ linked below. detailing banks’ preferences for settlements, which we think you’ll find useful.   NAB: Westpac:  St George ANZ Suncorp / FMS CBA Bendigo Bank Limited CUA Galilee Gadens Brisbane MSA Macquarie: Estate Matters  Greater Bank If you have any questions or require any assistance, please reach out to one of the PEXA team or comment below. ... View more

Hi Community, PEXA, together with our Subscribers, has an important role to play in upholding the integrity of the network.  Ensuring all members are adequately insured plays a key role in this responsibility. This involves PEXA adhering to Requirement 14.4 of  ARNECC’s Model Operating Requirements (MOR) , which require PEXA to ensure that its Subscribers satisfy the Insurance Rules in Schedule 6 to the  Model Participation Rules (MPR) . Previously, having a conveyancing licence in NSW was evidence the licence holder was insured, however this is no longer the case as someone may obtain a licence without being insured. Read more here .    As such, from 9 June, PEXA has been requesting via email that all NSW conveyancers provide a copy of their organisation’s Certificate of Insurance for the year ending 2021, in order to keep using PEXA. We appreciate your assistance in helping us meet these requirements. You will have until 30 June to provide the Certificate of Insurance to PEXA.  Please note, if PEXA does not receive a copy of your firm’s Certificate of Insurance, your firm’s access to PEXA will be temporarily suspended until this is actioned. For more information, please email our helpful Account Services team: registration@pexa.com.au.   Kind regards, Jarrod ... View more

Hi Community,   In this Security Shorts video, Anish Dharmakkan from our PEXA Security team, provides some valuable advice on how to verify if a website is secure. Keep an eye out for more tips and tricks from our team and if you'd like more information on this topic, you can access helpful links below.   How to identify duplicate or unsafe websites Cyber-Criminals, the Modern-Day Con Artists ... View more

As previously advised, to support the state’s network at this time, the NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA have worked together to facilitate a temporary solution to lodge presently out of scope paper documents through the PEXA Platform.   The new lodgement process, referred to as COVID-19 Residual Lodgement, has been released in two phases.   Phase 1: As of 11 May 2020, PEXA Subscribers are able to lodge paper Real Property Act dealings with a Land Title Reference through the COVID-19 Residual Lodgement via the PEXA Platform. This functionality is available for both dealings that are not currently mandated for electronic lodgement, as well as mandated documents.   Phase 2: As of 25 May 2020, paper documents which don’t have a Real Property Act Land Title Reference or where the Land Title is not valid for electronic lodgement in the PEXA Platform, are able to be lodged through the PEXA Platform using a prescribed Title Reference.   We’ve outlined the differences between Phase 1 and Phase 2 of the COVID-19 Residual Lodgement functionality below.   Item Tranche 1 Tranche 2 Land title(s) in Workspace Title(s) referenced in attached dealing. Multiple titles may be referenced. Generic Title – NO/REF/99999   Only the Generic title may be referenced. Land Title Reference Verification Only Titles valid for electronic lodgement may be used for Phase 1 dealings. Used when: one or more titles referenced in the attached dealing is valid, but not eligible for electronic lodgement, or; the dealing does not reference a Torrens title – e.g. PoA, MCP. Registry information Supply Yes – Land Title data shown in the PEXA Land Title screen. No. Title Activity Check Yes – Title Activity Check for each title in the PEXA workspace. No. Lodgement Verification Supported for the content of the Cover Sheet dealing only. Lodgement Verification does not validate the content of the attached dealing. Supported for the content of the Cover Sheet dealing only.   Lodgement Verification does not validate the content of the attached dealing. Digital Signing Digital signature is applied to the Cover Sheet dealing AND the attachment. Digital signature is applied to the Cover Sheet dealing AND the attachment. Lodgement Upon successful Lodgement, NSW LRS will return to PEXA the following status values:   LODGED – against the Lodgement Instructions UNREGISTERED – against the Dealing A Dealing Number will be returned for Lodgement of the Dealing. Lodgement of the Dealing also reflects Lodgement of the attachment.   The Attached Dealing will now be the subject of examination by the Land Registry, separate to PEXA. This process may take several days.   Upon successful Lodgement, NSW LRS will return to PEXA the following status values:   LODGED – against the Lodgement Instructions RECEIVED – against the Dealing   A Dealing Number will be returned for Lodgement of the Dealing. At this point NSW will WITHDRAW the Cover sheet.   NSW LRS will return to PEXA the following status values:   COMPLETED – against the Lodgement Instructions WITHDRAWN – against the Dealing Lodgement of the Dealing also reflects Lodgement of the attachment.   The Attached Dealing will now be the subject of examination by the Land Registry, separate to PEXA. This process may take several days.   Registration Upon completion of examination and successful registration, NSW LRS will return to PEXA the following status values: COMPLETED – against the Lodgement Instructions REGISTERED –  against the Dealing   A status of Registered against Dealing means also that the Attachment has been Registered. A Dealing search against the Title(s) will show: The Cover Sheet as Page 1 The content of the ‘Attached Dealing’ as Page 2.   NSW LRS will not advise the lodging party directly of the Registration status of the attached dealing. ... View more

Hi Community,   We are aware that users attempting to access the PEXA Exchange via a bookmarked link are encountering errors when logging in.   We are currently working on a resolution for this issue. To remedy this, please clear your cache (instructions for Chrome here).   Accessing the PEXA Exchange via Google, your browser's search bar or other means remains unaffected.   We'll provide a further update in due course.   Kind regards, Jarrod ... View more

PEXA Plus Marketplace provides a platform for practitioners in New South Wales and Victoria to compare and purchase land titles and other property searches from a range of different providers in one convenient location.   From 28 May 2020, in line with updates from authorities and councils, you may notice price changes to certain Equifax products. In addition, amendments have been made by PEXA, which will have a very minor impact on CITEC products.   If you have any questions regarding this or your PEXA Plus Marketplace experience, please reach out to us.   Kind regards, Jarrod ... View more

Hi Community,   On the WA Day public holiday, 1 June 2020, financial settlement and lodgement will not be available for Western Australia.   To help you prepare for the holiday period, planned outages and more, please refer to Calendar: Releases, Planned Outages & Public Holidays Hi Community,   Kind regards, Jarrod ... View more

Hi Community,   As previously announced, the NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA have worked together to facilitate a temporary solution to lodge presently out of scope paper documents through the PEXA platform during COVID-19. Phase 1 of this roll-out has been live since 11 May, enabling PEXA Subscribers to lodge paper Real Property Act dealings with a Land Title Reference through the COVID-19 Residual Lodgement via the PEXA Platform.   Please note that Phase 2 is available in PEXA from today. As part of this, paper documents which don’t have a Real Property Act Land Title Reference or where the Land Title is not valid for electronic lodgement in the PEXA Platform, will be able to be lodged through the PEXA Platform using a prescribed Title Reference. For a full list of paper documents available, please see NSW LRS FAQs here.     Helpful links Guidance on the COVID-19 Residual Lodgement process: https://community.pexa.com.au/t5/New-South-Wales/NSW-COVID-19-Temporary-Lodgement-Option-of-Paper-Dealings/gpm-p/19764 NSW LRS information pack: https://www.nswlrs.com.au/About/About/COVID-19-Key-Links Help card: see attached.   Kind regards, Jarrod ... View more

Many of us are adjusting to remote working at present, with the PEXA team no different. Our Head of Information Security @DavidWillett shares his best-practice tips for working from home, including routine patching and updating of your software, as well as utilising supported operating systems where possible.   ... View more

Hi Community,   The Service Charter has been updated in line with the deployment of Release 12.0.0 on 4 May 2020. Clean and marked up versions of the Service Charter can be accessed via the attachments at the bottom of this post.   Kind regards Jarrod ... View more