JohnM,
I spoke to a really nice person on the phone yesterday about my file, and she told me that Finch does not have a waitlist. They review files until a decision is made on all the people who interviewed. I can't quite remember her name, but for some reason, "caroline" is popping into my head! I was told that if you pass their ist review and don't get a rejection letter, then you are ok. She told me several times that there was no waitlist at CMS. Maybe your friend found out that her file had undergone a review and since there was no decision, she assumed that she was waitlisted?
Anyway..I might call again in a couple of days and see if I get another story from them.