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Whilst all 4 major banks are fully committed to e-Conveyancing, not all transactions are currently in scope. This is due, in part, to the fact that banks still require a paper mortgage signed by the client (even though an e-Mortgage is signed by the bank in PEXA). Where the banks settle in, PEXA said paper mortgage needs to be a “new” MA document (akin to the T2A). A couple of the banks are yet to finalise this issue. The current status is as follows:
Source AICWA Newsletter 29th May 2015 to members
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