As it stands now (and as I understand it), requisition(s) for PEXA registration deals are sent to a designated (nominated) e-mail address for the respective financial institution. This e-mail includes the deadline for the requisition to be resolved prior to the PEXA workspace being withdrawn or denied. The relevant Titles Office then provides the paper documentation necessary to rectify the requisition by mail to a designated postal address (I understand this to be nominated in PEXA and/or the Titles Office) for the concerned financial institution. Is it possible for this requisition e-mail to be sent to the team member of the financial institution who lodged the registration activity, considering that access to PEXA is done thru an e-mail address? This would at least notify the concerned team member of the requisition and can make immediate follow-up prior to the set deadline.
... View more
We have a situation where we initially registered a mortgage that included only one title particular over a security property in NSW which should have two title particulars instead. To correct the error, the Bank has requested the customer to sign a new mortgage that included both title particulars and have in fact registered this mortgage via PEXA complying with the registration requirements. The Bank also has to register the discharge of the existing mortgage (over one title particular). However, a problem is being encountered to complete this in PEXA. The error relates to the cord holder consent which is required in NSW. This brings the question that is it necessary to first register the discharge the existing mortgage prior to registering the new mortgage to cover two title particulars?
... View more