Which would have included personal verification and use

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Reference no: EM133375670

Question: Lee Chin owns Torrens title unencumbered registered residential property in fee simple in Port Macquarie, NSW. Lee Chin was a customer and subject to the nationwide Optus cyber-attack. She was notified of her exposure by Optus on 10 October 2022.

Lee Chin learned from one of her law student friends on 20 November 2022 that Certificates of Title were abolished on 11 October 2022. She contacted the NSW Land titles Land Registry service via phone on 21 November 2022 to enquire as to what to do with her hard copy certificate of title. In the course of that conversation she was horrified to find out that her residential property was subject to a new registered mortgage by BigBank, a national lender in the sum of $100,000. Lee Chin has been a customer of BigBank for decades and holds a current savings account there.

Lee Chin contacted BigBank to confirm that "Lee Chin" had applied for a mortgage over her property and complied with all the relevant ID requirements, including a full ID check including passport and driver's licence. BigBank stated that they did not meet "Lee Chin" as she acted through a reputable mortgage broker, Madame Lender. Because the mortgage applications section was separate to the savings account section of Bigbank, Lee Chin never received a direct call for verification of her details, which would have included personal verification and use of her security keyword.

Advise Lee Chin with respect to Bigbank's registered mortgage over her Port Macquarie property and prospects under NSW Property Law of successfully challenging the mortgage in NSW.

Reference no: EM133375670

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