Posted by Ronda Roaring on 8/25/08 2:49pm
Msg #261704
Mercury/Lender's First Choice
I'm owed money by Lender's First Choice. To make a long story short, after making a number of phone calls, I finally got to the "right" person at First American. First American will be paying title and escrow. It will not be paying "vendors." If you're owed by a Mercury company, you're on your own.
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Reply by DellaCa on 8/25/08 2:54pm
Msg #261705
Re: This is what I just recieved
Melanie C. Parks, CSA
Associate Vice President
Central West Sales
1.800.407.1411
Good Morning,
I have received many calls as I am sure you all have from vendors who completed services for both Lenders First Choice (LFC) and All Reverse Transactions (ART). First American has advised me that all such inquires should be directed to:
Mercury Companies 303-572-9090
1515 Arapahoe Street, #1400
Denver, CA 80202
I am sorry to say I don’t have a contact name to give you all as well. The Mercury companies are responsible for the payment of such fees to these vendors not IMB or FF. As you also might know in order to fund loans and not have to redraw etc many of the payments for such services where remitted to LFC or ART as part of the process. This was a requirement that NREIS had to do in order to avoid the redraw ramifications etc. Therefore, if NREIS advises you that they did submit those funds to LFC or ART the vendors would need to contact the number above to request applicable payments from those monies.
I know this is not the best answer and unfortunately we will find many frustrated vendors but it is important to make them know that we have no control over this process. I have asked the executive management team at FA to confirm that we have to do this as stated and they have confirmed.
Let me know if you have any further questions.
Michele Chochrek
FVP of Vendor Management for Indymac Federal Bank and Financial Freedom
1 Banting
Irvine, Ca 92618
949 932-4401
949 788-8343
[e-mail address]
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