About BelindaLeFevre

Hi @JulesM    Great question and one that is asked regularly by members.    Similarly, banks ask “why hasn’t the practitioner hit the “ready for shortfall” button?    It’s clear the process can be difficult as there are many dependent activities, and each case has it’s own set of “gotchas”.  Here at PEXA we know the frustrations and have embarked on a project to improve on-time settlements across the industry.  Our work so far, has identified some key points:   Incoming mortgagees are reliant on the practitioner selecting the “ready for shortfall” button to enable them to enter loan funds Ready for Shortfall functionality provides an indicative figure for the bank to work with – they can’t enter an amount without this Stamp Duty verification needs to be performed prior Practitioners are reliant on banks completing the shortfall indicator to be able to select “ready for shortfall" Incoming mortgagees should utilise the tick boxes for loan docs sent and loan docs received to enable timely follow up with the client Outgoing mortgagees should utilise the tick boxes for DA sent and DA received Delays in receipt of mortgages and related documents, is a key reason for delayed settlements – we call this the “fruit bowl factor” This type of delay can grind the whole settlement to a stand still.  Where jurisdictions allow, banks are deploying e-documents for digital signature which are effective at speeding up the turn around (no time in the post, not need to print and wet sign) etc Stamp Duty verification delays are also a key contributing factor for delayed settlements There are often good reasons for these delays, but, it does cause a knock on effect All documents need to be created to calculate figures – document and land registry fees are calculated post document creation Bank figures can be delayed by a client paying out additional debts for which payout figures are required Matters can have complex funding structures or be linked to other transactions Payout figures (indicative) can be provided early, however final figures can be difficult to provide until the day of - in many cases they can change depending on client behaviour Locking client accounts is not possible in most circumstances   Amongst this landscape of interdependencies, there have been some additional challenges.  The majors have been open with their struggles throughout the pandemic with short staffing, change in processes to support remote working, swift onshoring of teams, recruitment and training difficulties.  It’s been a rough ride for the entire industry as transaction numbers soar in response to the pandemic and low interest rates.   Importantly, we have discovered that around 30% of transactions scheduled to settle on a given day, will not settle on that day.  Often other parties to the transaction are not aware, resulting in wasted effort for those parties.  PEXA has developed health indicators to let participants know when things are off track on the key elements of a settlement.  New functionality will be available in our R15.0 to help with this and a trial in the jurisdiction of South Australia will commence shortly.  Rest assured, the entire industry are working together to improve the settlement experience for everyone.   Hope this helps! Belinda ... View more

A brief update - please feel free to provide feedback to First Legal directly via the link below:   https://fms.aus.allegiancetech.com/cgi-bin/qwebcorporate.dll?idx=5WE6H5   Feedback will be reviewed directly by the First Legal Quality Team.   ... View more

Hi Belinda, Unfortunately you did not get much response to this thread. I am looking into a couple of issues we have with our settlements staff who are using citrix.  We have one user for whom it has suddenly stopped working completely.  This happened once before and support were able to fix.  I am trying to find out what they did to fix it. Also this user reports that it is painfully slow using Citrix.  10-20 seconds per screen refresh which makes the process painful. If you do have any documentation about the implementation in Citrix then I am all ears. Thanks Darren ... View more

Yes, I agree. This is a good mutual benefit for both sides. The most important advantage is that you exchange information, etc. I wonder if you talk about investment topics? Because the acquisition of a business or real estate is often discussed in a warm atmosphere. Just the same for breakfast or dinner. I was once looking for BTL Investments to run a business, and I can tell you with confidence that it is difficult. A lot of hassle with paperwork, plus if you went to a really nice office. So the most important thing is to remain a person, not to be arrogant. ... View more

My comments were in the context of a clearing a land tax charge on settlement- not in circumstances where there is a clear land tax certificate. ... View more

Hi @nfras000 ,   Unfortunately Government do not wish to open up this functionality electronically.  There are some other threads on the topic here that explain the rationale behind this decision.  @RobertGoncalves-NSWORG @SandrahMikha-NSWORG are you able to comment further?   cheers Belinda ... View more

Happy New Year Community and welcome to 2020.    Sending our love to all communities that have been hit hard by the fires across the state - our thoughts are with you and the dedicated firies battling as we speak.   On the topic of Writs.  Here are the facts:   The RIS or Registry Information Supply that populates the "Land Titles" screen in your PEXA workspace, does NOT show if a writ is on title.  In fact there are a number of 2nd schedule dealings that are not populated on this screen.  See the chart below: 2 nd schedule dealings Dealing In RIS Detected in TAC   Writ No If lodged in TAC period   Charge No If lodged in TAC period   Plan Lodged No If lodged in TAC period   Easement No If lodged in TAC period   Caveat Yes If lodged in TAC period   Lease Yes If lodged in TAC period A writ IS detected in a TAC (Title Activity Check), providing the writ is lodged during the TAC period. The TAC period runs from 60 days before the workspace is opened, then weekly right through until the week of settlement, at which time it will run daily then 1 hour before settlement.   It is imperative that a full title search is run prior to opening a workspace, but equally important the search is completed no earlier than 60 days prior to opening the workspace. It's anticipated NSW LRS will start to send through 2nd schedule dealings information in RIS in the next few months as other dealing types are created for lodgement via PEXA, and require this data eg removal of a writ.   Reminder - the Land Titles screen in PEXA is not equivalent to a full title search. ... View more

Hi @katherineglenn011 @Jessmem ,   We have another thread on this topic here and it is not the first time we have had this request.  The issue is around what is acceptable by NSW LRS and Office of the Registrar General (ORG).  PEXA creates documents in the platform based on the National E-conveyancing Data Standards.  Unfortunately in the data standards, there is no scope for providing a transfer without the consideration.  I have been liaising with ORG on if this functionality is something they would agree to.  Unfortunately the response has come back that they would not support this change and in fact, they are looking to change the rules in paper to mirror this.   Part of their argument is the transmission of the NOS information to the Valuer General means that the consideration amount becomes available shortly after settlement anyway, so there is limited value in leaving it off the transfer as people can find out the consideration within a few days.   For further discussion, please contact ORG-eConveyancing@customerservice.nsw.gov.au.   Hope this helps to clarify!   cheers Belinda   ... View more

Hi @helenj,  The Switch function was originally available to all our subscribers however our Financial Institutions preferred not to have this function available.   Thanks,  Beck ... View more

Hi @fadichahine ,   The short answer is, an electronic settlement is required and the citizen needs to be represented in the workspace by a PEXA subscriber.   The 2/2019 waiver to Conveyancing Rule 8.7, allows for paper lodgement where both the transferee and transferor are not represented by a legal practitioner or licensed conveyancer and the transfer is standalone.  This waiver is designed to cater for transfers between family members that may not engage legal representation.  https://www.registrargeneral.nsw.gov.au/publications-and-rules/conveyancing-rules-waivers   In the case you describe below, the citizen would need to be represented in the workspace by a PEXA subscriber for the purpose of completing the transaction.  They may opt to be represented by a lawyer, conveyancer or e-lodgement agent.   cheers Belinda ... View more

Thanks @BelindaLeFevre ,   Unfortunately the same doesn't apply here in Victoria as far as I'm aware. ... View more

Hi @crystalshen007 @TheDoctor ,   Thank you for your interest in the Northern Territory.  At this stage, NT are at the beginning of their e-conveyancing journey and we are yet to hear of any movements in this regard.  A Go-Live date is yet to be confirmed for PEXA in the NT.  We look forward to welcoming this jurisdiction to the network in the future.   cheers Belinda       ... View more

This appears to be minimal impact to PEXA Transactions, as the impacted fees are related to additional charges where a Document affects more than 1 interest.    They will charge the single fee through PEXA and then seek the additional fees outside of PEXA (when applicable).    The only impacted document type in PEXA would be Discharge of Mortgage (where multiple Mortgages can be discharged in the 1 Discharge document).    Withdrawal of Caveat in PEXA requires a separate WC for each Caveat being Withdrawn. So no impact in this regard.    Hope this helps.    Travis Sullivan - PEXA  ... View more

Hi @MelissaSmede,   Revenue NSW have advised that they can confirm the ODA 073 error resolution form is indeed gone.  They will be promoting a more streamlined and user friendly approach via email or telephone.  They will also launch a new e-conveyancing page shortly too.   So on the money @TJ  - an email  or phone call 1300 208 528 to the econveyancing team at Revenue NSW would be the way to go.   cheers Belinda ... View more

Thanks @BelindaLeFevre that's great!   I really appreciate your fast response!   Cheers, Emily ... View more

Hi @Pmaher4,   Thank you for your interest in the new leasing functionality.  It has been designed as such to allow the annexures to be uploaded in a document and attached to the lease document created in PEXA.  Once you create the document and then upload the Annexures to the lease document, digital signing covers both the lease document and uploaded annexures.   In terms of your questions: - Which leases can be prepared in PEXA? Fair Trading leases only?    Not sure what is meant by Fair Trading leases - this functionality is to support leases that would normally be created using LRS templates in commercial settings - Can a stand alone lease be completed and registered via PEXA? Yes - What are Conditions and Provisions?  This is new wording for what you currently call "annexures"    Tagging in @TSullivan (product designer) for further comment.   ... View more

Hi @Emilytrotman,   Unfortunately we are unable to produce titles on behalf of practitioners.  This change came into play a few months ago.  However, the "no-charge" still applies for producing the title, so you would just need to pay an agent for the production.     So sorry we are unable to support this service moving forward.   cheers Belinda ... View more

Hi @AnnH,   Yes correct.  As you are acting for the Incoming Mortgagee, you can create the consent for the land using the title the borrower has provided to you.  You will need a Client Authorisation Form between yourself and the Incoming Mortgagee.  You would not require a signed Client Authorisation Form between yourself and the borrower if you do not act for them.   I understand you are meeting with your PEXA Direct Specialist today who will talk you through how to do the Consent.   cheers Belinda ... View more

Fabulous Belinda very helpful tool. ... View more

Wow - a great session!    Thank you fellow community members for spending time with us today to clarify your Bulk Conversion queries.  As always, we will continue to source responses and posts should there be further questions on Community about this topic.   Over and out from Robert, Angeline, Cliff, David, Gayle and Belinda! ... View more

  Hi Dalton,  The  Guidelines are structured to drive (encourage) the completion of tasks as early as possible, and with the exception of FSS tasks, do not specify "no later than" timeframes. It might be timely to reconsider this, and the best forum is the fortnightly Banking Operations teleconference. Let me know if you need details.  Thanks,  Kate.  ... View more