PowerLink Settlement Services Closing
Another AMC Closing Down: PowerLink Settlement Services
This information was passed along by Washington State Appraiser and Educator, Dave Towne. An AMC called PowerLink Settlement Services is expected to close down by the end of April per letter to their vendor appraisers.
Another AMC bites the dust, or will, by the end of April, per their letter sent to their vendor appraisers. They expect the volume of orders to taper off during March and April:
PowerLink Settlement Services (and affiliates) Coraopolis, PA”
The letter does indicate appraisers will be paid as long as invoices are properly submitted. It’s nice, this AMC had the decency to send a letter dated Feb. 18 about this, signed by their President. (I don’t have first-hand experience with this AMC. Just passing along info.)
If you have any outstanding invoices or work for this AMC you should get them turned in ASAP.
February 22, 2013
Dear Valued Partner,
I regret to inform you that a business decision has been made to wind down PowerLink Settlement Services, LP, and its affiliates. This process will take several months to complete. During this wind down process, we are counting on your continued support to finalize all outstanding orders and to minimize service breaks for our clients. The following schedule will outline how your volumes will be impacted over the next 90 days:
In February, you can expect your volume to remain consistent with recent trends;
In March, your volume will begin to decline;
By April month-end, all PowerLink volume will have ceased.
Please have all invoices submitted through the normal channels by April 30th, 2013, and we will process them for payment according to our standard practices. Please reach out to your Vendor Management Team with any questions your may have.
Thank you for your continued support of PowerLink Settlement Services, LP.
PowerLink Settlement Services, LP
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10 down 10,000 to go.
At this rate I may be willing to come out of retirement in the year 2525.
Out of curiosity, how many million did they manage to stash in their off shore accounts?
Thanks for the info. We didn’t do any work for them. However, we did do work for JVI,, who also closed up. Wells Fargo, to their credit paid for their reports. The other lenders are avoiding the issue.
Just to remind everyone, there are risks in being in business.