Posted by Ndwa on 9/19/07 6:38pm
Msg #212122

EFS still alive?

Just got in and saw an email from them asking for my W9. I replied to the email about the outstanding invoices, we'll see...

Reply by Terri_CA on 9/19/07 6:41pm
Msg #212123

Wow good luck, from what I've read, they've closed their doors.

Reply by Loretta Reed on 9/19/07 6:49pm
Msg #212126

I heard that they filed Chapter 7 bankruptcy.

Reply by Lee/AR on 9/19/07 7:05pm
Msg #212130

Re: EFS still alive? No

Watch it! Some ex & unpaid employee may be up to no good. EFS is gone.

Reply by Ndwa on 9/19/07 7:30pm
Msg #212137

Re: EFS still alive? No

You might be right Lee. It's a 1994 MSWord W9 form where they specifically wanted name & SS# if you checked individual/SP.

Reply by jba/fl on 9/19/07 7:19pm
Msg #212134

I received the same email, called the number given, they answered EFS, dialed ext. given, voice mail for person sending the email. I will call again tomorrow to ask about payment and why they don't have copy of W-9 as was sent previously. Also, making sure they don't report they paid for unpaid invoices on my W-2 when it arrives. I found SOX, for ex., did that one year - didn't pay, but reported that they did. Still don't understand why they are in business when they commit so much fraud.

Reply by Nick/MD on 9/19/07 9:02pm
Msg #212153

They have filed bankruptcy. I got a check from them on Friday that is no good. You need to stand in line. The way I understand bankruptcy works is they will pay the secured creditors first, which none of us are, then if there is anything left get to us... it doesn't look good.

Reply by dickb/wi on 9/20/07 11:57am
Msg #212229

you should have given it to the IRS.............. n/m

Reply by Tannis Zamora on 9/19/07 11:10pm
Msg #212168

No they are not. I lost a signing on Monday after I had printed the documents and everything. Fortunately I was hired by a reputable SS that called to let me know the signing was cancelled and asked for my print fee.

The Borrower's L/O called me at the Borrower's request as they hadn't heard anything and I knew nothing to tell them other then the HUD didn 't come and I could not do the signing w/o it.

The L/O is the one that told me that EFS had closed their doors and that the Lender had to find another company.

I am sorry for everybody out there.

tannis z

TN

Reply by CopperheadVA on 9/20/07 8:11am
Msg #212196

I did a job for EFS the Monday before they closed - it was supposed to fund on the Friday they closed their doors. Didn't fund obviously. Yesterday I received a call from another large TC who has taken over the deal. They asked me to fax them a copy of the EFS confirm and my invoice to EFS. They said they could not get the original DOT that I notarized, as it was at EFS and there was no way to get it and then send it for recording. They are paying me to go back out and have borrower sign a duplicate of the same DOT. They wanted me to notarize for original date, but I said no can do.

Reply by Marlene/USNA on 9/20/07 9:52am
Msg #212210

Re: EFS still alive? not in Pittsburgh

Housing crisis wipes out Express Financal
By Ron DaParma
TRIBUNE-REVIEW
Tuesday, September 18, 2007

Express Financial Services, a national housing settlement services firm that in better times employed 400 people locally, has closed its operations, ending the jobs of about 100 at its Green Tree headquarters, employees said Monday.

"It was a big shock," said Karen Held, a closing agent with Express, who said employees learned of its plans at a meeting Friday morning.

"It's because the industry has been so bad. Lenders are cutting back and closing offices, and it's a trickle-down effect on us," said Held, of Baldwin, who returned to the company's offices at the Parkway Center office complex for a brief time yesterday.

Nationally, an estimated 50,000 positions in the mortgage industry have been cut this year. Besides the major U.S. banks, dozens of small- and medium-sized mortgage lenders have gone bust because of defaults and delinquencies from borrowers with shaky credit histories.

Reply by Nick/MD on 9/20/07 3:34pm
Msg #212293

Re: EFS still alive? not in Pittsburgh

I saw the same article... the reason they closed is partly due to the market, but they didn't close, they were shut down by the underwriters is what I am hearing...