About Kate_Camilleri

Kate_Camilleri

Morning @EricF and @PrueHUTCHINSON You are right @PrueHUTCHINSON you can use the same workspace to represent the same party, in this case the Vendor (PoT) and the Incoming Mortagee. CT will be issued to the Incoming Mortgagee via their Representative. Please feel free to direct message me if you'd like to talk through any further aspects of these settlements.

Kate_Camilleri

Thanks for your post @gmathews and we’re sorry you have had such a frustrating experience. Your PDS will reach out to you in relation to this particular workspace and your feedback has been provided to NAB. The experience you’ve described is not acceptable to any Bank and they are working to improve their performance as described here by Westpac and here by NAB. Overall performance in workspaces has improved as indicated by the average Practitioner satisfaction ratings of Banks increasing from 6.8 in November 2018 to 8.2 as at July 2019. Banks are provided with weekly performance metrics against key guidelines and they use this data to identify areas for improvement. There is absolutely more work to be done to improve the digital settlement experience so please continue to post feedback here or via the “Feedback” tab in the workspace.

Kate_Camilleri · ‎28-05-2019

Yes @AaronG and @JoyD, the Banks are currently revising their Refinance Guidelines, but some guidelines around Consents will be coming soon. It would be great if you could post some suggestions below for what Consent Guidelines might include. E.g Invitation acceptance timeframe, additional information to include in the invitation, Practitioner and Bank tasks and timeframes.

Kate_Camilleri · ‎17-05-2019

Hi @LWeal and @lornafoley , thanks for raising this, we're working on a solution that is likely to cater for this scenario. I will provide more d etails as soon as I can.

Kate_Camilleri · ‎26-04-2019

Hi @karzkeenan Yes Refinances with these additional requirements are routinely done on PEXA. The PPSR release is uploaded into the workspace prior to settlement, and the Bank Guarantee is swapped before or after Settlement, sometimes with support of the industry undertaking available here under Electronic Conveyancing – Significant commercial refinance transactions https://www.ausbanking.org.au/banks-in-australia/industry-standards/ Please feel free to direct message me to discuss these options in more detail. thanks Kate.

Kate_Camilleri · ‎04-02-2019

Thanks Caz, other Lenders have expressed interest in this enhancement so we will add it to the list for consideration. Kate. @Beck

Kate_Camilleri · ‎25-01-2019

Thanks Vanessa. We are always keen to get suggestions on how to make the Refinance process more efficient. Can you provide some more information, perhaps an example, of the current issue? I understand it as: A new Lender provides finance on the condition that specific existing loans are paid out. Currently, all the new Lender can see in the FSS is loan payout amount/s, but no details as to the accounts to which the funds will be directed. Therefore, they can't ensure the conditions of the loan have been met. There maybe some privacy issues in relation to making account details from an OFI visible to a new Lender in a workspace, but with your confirmation that I have understood the requirement/scenario, we'll provide feedback on feasibility of the change you've suggested. @IsaacK @AvinaAl Thanks, Kate.

Kate_Camilleri · ‎06-09-2018

Hi @nmirigliani Further to Emily's post, this LUV publication: https://www.liv.asn.au/pdf/for-lawyers/practice-sections/pels/2015-law-inbrief/guide-to-certificates-of-title-and-administrative-.aspx specifies: If a subscriber wishes to convert a small number of pCTs (up to 50) in their possession or control into an electronic format, this can be achieved using the Land Victoria paper form, Convert a paper Certificate of Title to an electronic Certificate of Title. The Form is available here: https://www.propertyandlandtitles.vic.gov.au/forms-guides-and-fees/title-management Thanks, Kate.

Kate_Camilleri · ‎05-09-2018

Hi @JulesM, LRS have recently published this guide advising how to process old discharges of mortgage: http://www.nswlrs.com.au/?a=223657 Let me know if you need any further information. Kate.

Kate_Camilleri · ‎04-09-2018

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.

Kate_Camilleri · ‎04-09-2018

Hi @Dalton1, Here is the industry guideline for PEXA transactions: 10. DOCUMENT COMPLETION AND SIGNING Task: Where there is a mortgage on the title, the Mortgagee on Title also creates and signs the Consent document for both an electronic and paper Certificate of Title. Timing: Once the Discharge Authority has been received. Thanks, Kate.

Kate_Camilleri · ‎29-08-2018

Hi @Ron Only a PEXA Subscriber can hold control of an electronic certificate of title, so a Financial Institution, their representative or a Practitioner. Control of an eCT can be passed between PEXA Subscribers within PEXA. There is no mechanism to allow a Proprietor (Customer) to hold control however a Practitioner can hold control on their behalf. Concern about lost paper CT's was one of the motivating factors behind Land Use Victoria's bulk conversion of certificates of title to electronic (where a bank is a mortgagee on the title back) in 2016, the question of how to deal with remaining pCT's is under consideration. Thanks, Kate.

Kate_Camilleri · ‎28-08-2018

Hi @sjdlaw I appreciate the frustration, sometimes this occurs when a transaction moves between the paper and electronic pathway, can you please direct message me the details and I will follow-up. Thanks, Kate.

Kate_Camilleri · ‎19-08-2018

Thanks @postman , just forwarded your post to our support team, will get back to you ASAP.

Kate_Camilleri · ‎16-08-2018

Hi @MARS We understand your frustration. The industry transfer guidelines are available here and they are an invaluable tool for parties to understand what needs to be done in the workspace and when. There is no provision for documents to be printed from a workspace. Please direct message me so we can follow up. Thanks, Kate.

Kate_Camilleri · ‎14-08-2018

Currently for a Refinance transaction where a Bank Guarantee is involved and it can not be swapped prior to settlement, Land Use Victoria will accept this transaction in paper providing the cover sheet stating the reason is provided with the paper documents. This process/cover sheet is currently under review in the industry working group for applicability to the transfer mandate on 1 October. More information will be posted soon.

Kate_Camilleri · ‎03-08-2018

We're very pleased to announce PEXA Release 8.1 due on Monday 6th August, a recording of the webinar highlighting Release 8.1 features is available below and Release notes are available here: If you have any questions please post them below.

Kate_Camilleri · ‎14-07-2018

Hi Dom, Thanks for your post, we are working on new functionality for Brokers. In the meantime, check with your Lenders as to what alerts and notifications they have made available for digital transactions. Kate.

Kate_Camilleri · ‎13-07-2018

Great suggestion Nicola, we'll let the community know when this is done.

Kate_Camilleri · ‎29-06-2018

Hi @sjdlaw We're sorry you've had this problem, can you please private message me the workspace ID so I can follow-up? thanks, Kate.

Kate_Camilleri · ‎25-06-2018

You're right @MaddieT, if the instrument can be auto-registered it will be completed very soon after lodgement in all states except SA which registers manually generally within 3 business days.

Kate_Camilleri · ‎25-06-2018

Hi Jenny, Can you direct message me your contact details and I'll call to work this through with you. Thanks, Kate.

Kate_Camilleri · ‎04-06-2018

If you can private message me the details of the workspace, we'll provide this feedback to the Bank.

Kate_Camilleri · ‎04-06-2018

Thanks for your post @catemccubbincomau, I’m sorry you’ve had a frustrating experience dealing with some Banks in PEXA workspaces. As per the Industry Transfer Guidelines, Source Funds (Loan Proceeds) should be entered into the PEXA Workspace by the Incoming Mortgagee well in advance of settlement date and last minute entry should be avoided. Sometimes, the scenario you have described above happens when dependent tasks such as the receipt of the loan document are delayed. When Guidelines are followed, and information is received, processed and entered into the workspace in a timely manner, everyone benefits. The Banks are very focused on meeting Guidelines and we’re working closely with them to monitor and improve their processes.

Kate_Camilleri · ‎30-05-2018

Thanks for listening in to the webinar @DMc, some Banks have indicated a preference to enter amounts for Loan Proceeds and Loan Payouts in the workspace, with the Practitioner subsequently entering any Surplus or Shortfall as required. However, it is important to note that the Guidelines allow for either Party to enter Surplus and Shortfall. We are looking at ways to make this process more efficient for Banks and Practitioners, and your suggestion of an auto-calculate functionality is a great one. Thanks, Kate.

Kate_Camilleri · ‎21-05-2018

Thanks for your post. A standalone discharge of mortgage signed in August 2017 in the jurisdiction of NSW is required to be processed electronically by the mortgagee on title or their representative, so yes, NAB will need to be contacted to complete the discharge you hold in PEXA. See post with similar information here. Thanks, Kate.

Kate_Camilleri · ‎21-05-2018

Hi Kate, Thanks for the question. From PEXA Projects, CBA Business Bank is an accessible Subscriber to whom you are able to send a Participation Request which automatically generates the invitations. In PEXA, CBA Business Bank is not viewable as a Subscriber, so invitations for commercial transactions should be sent to Commonwealth Bank Subscriber and they will route it through to their commercial division. We'll follow up you to directly to work through the specifics of your transaction with CBA. Thanks, Kate.

Kate_Camilleri · ‎16-05-2018

Hi Sanjay, If the securities are in the same jurisidiction and the mortgages have the same Mortgagee, should be ok to discharge both securities in the one workspace, only exception is in Victoria, the Proprietor on Title/Mortgagor must be same (related dealing) - see further information here: https://community.pexa.com.au/t5/Help-Centre/What-is-a-related-dealing-in-PEXA/ba-p/64 Thanks, Kate.

Kate_Camilleri · ‎12-05-2018

Thanks for the clarification Sonia, you are correct, there is no role for a Practitioner representing the Proprietor in a workspace for a stand-alone discharge, and the need for education/information on this process in light of the invitations you are receiving is noted. Thanks Kate.

Kate_Camilleri · ‎12-05-2018

Hi Sonia, In Vic, NSW, SA and WA the Mortgagee on Title, or the party acting on their behalf in the role of Mortgagee in Title is required to lodge the discharge of mortgage. Here’s a link to the relevant Victorian Registrars Requirements https://www.propertyandlandtitles.vic.gov.au/__data/assets/word_doc/0026/46349/Customer-Information-Bulletin-159_V2.docx The date on which this requirement became effective differs between the states. Please let me know if you’d like more information. Kate.

About Kate_Camilleri

Re: Vendor Finance Mortgage

Re: Annoying Banks

Re: Bank Consent Guidelines

Re: Interdependent Contracts

Re: Refinance (Multiple Lenders)

Re: REFINANCE

Re: REFINANCE

Re: Converting an eCT to Paper Title in Victoria

Re: Paper CT and Discharge held by Registered Prop...

Re: Bulk Conversion of Titles NSW | FAQs

Re: Bulk Conversion of Titles NSW | FAQs

Re: Transfer control of Vic Title to an individual...

Re: Banks requesting Transfer of Land

Re: Multi-factor authentication

Re: Panel Solicitors

Re: Deposit Bond or Guarantees

Webinar recording; Release overview meeting R8.1 -...

Re: Tracking PEXA client progress

Re: Bulk Conversion FAQs

Re: Bank requiring copy of documents

Re: mortgage registration

Re: Workspace

Re: BANKS and PEXA

Re: BANKS and PEXA

Re: Transfer Guidelines

Re: Discharge of Mortgage - can I lodge through PE...

Re: Release 8 | Ask Us Anything Monday

Re: Discharges

Re: StandAlone Discharges

Re: StandAlone Discharges