I find it completely ludicrous that PEXA has Transfer Guidelines, presumably compiled with the input of banks, wherein we are advised to complete various tasks in various time frames, when LENDERS seem to be oblivious of time frames and oblivious to the fact that they are wasting every one else's time and money. Three settlements this morning, chasing various banks to input source funds or destinations, two have been delayed, one still not ready. The third settlement okay. Is one out of three considered a good strike rate? This all presupposes that client's representatives have nothing better to do than continuously monitor workspaces in order that when the lenders do choose to complete their tasks we can sign fss and have the matter settle. Is the client's representative not able to leave the office, go to the toilet or attend to other work? Lenders maximising their profits at the expense of others. Is it not time that PEXA insisted on the lenders being responsible subscribers. Perhaps everyone should boycott settlements for a week and hope the hue and cry might force some action. Maybe the Royal Commission should have a new focus on lending practices and administration.
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