Ameriquest Mortgage Company ripoff fraud Nationwide Worldwide

John and Margie are two big butt-heads! I surprised someone didn't flat out tell them to go boink themselves...what a couple of jerks.

After reading their responses I started to see that they both were about as hard-headed as anyone can be....crimony, how many times did Tracy explain the situation to those two retards? Way more than I would have. Those who are victims of Ameriquest must be among the most patient people on Earth....

I hope the situation turned out beneficial for Tracy and the others who have been maltreated by Ameriquest.

I am currently with Ameriquest and just celebrated my 3 year anniversary with the company. Where do I begin. I have now received a notice of intention to foreclose. I am about ready to lose my home. I don't even know where to start. I have been offerred a contract/forbearance plan but they will only give me 6 months in which to pay it back.

This is absurd this will eat up 50% of my income. What do I do. I can't re-finance, my credit is worth crap, to say the least. I am going to lose my home. Help.

I have entered some previous postings, but I feel the following might be instructive to all. This is the unpurgated text of an affidavit that was offered in an Oregon court case by an ex-ameriquest employee. He also repeated essentially the same information as a live withness in open court.

(I have redacted his name for his personal privacy, but it is extant in the court file if anybody wants to take the time to look.)

"I (John Doe), being first duly sworn under penalty of perjury, HEREBY DEPOSE AND STATE:
I am a Resident of the State of California, County of San Diego.

From November, 1997, until November, 1998, I was employed as an Account Executive and Loan Originator by Ameriquest Mortgage Company, in their offices in Carlsbad, California.
During the period of time that I was employed by Ameriquest Mortgage Company the only loans offered by the office I was employed at were the so-called "Band Aid" or "327" loans; that being, a 3-year loan with a low introductory fixed interest, which then converts to a high-interest adjustable rate ("ARM") after thirty-six months.

As an employee, I was not offered any training or education in response to the Consent Decree entered into with the US Department of Justice; in fact, I was not even made aware of the existence of such a Consent Decree, despite the fact that a large number of our potential customers were minority and/or elderly persons. During my period of employment, the only training offered to me was in the areas of sales techniques and motivation, and the only trainers available were my fellow sales employees.

It was common practice among myself and my fellow employees to be noncommittal as to the actual interest rates being charged the borrower; often the actual interest rates were not revealed by the loan officer, in other cases the areas of documents relating to interest rates were simply covered up so as to hide the entire section from the borrower.

It was also common practice to present the borrower with changes to the interest rate, the type of interest charged (fixed or adjustable), or the need for a 2nd Mortgage, at the last minute, and indeed, often not until the actual the point of signing.

It was also common to "gloss over" the borrower's right to a 72-hour recession period, and in fact, borrowers attempting to contact their mortgage representative in the three days following the signing of their loan documents, were automatically assumed to be customers attempting recession, and were accordingly deliberately stalled and kept at bay until the 72 hours had passed.

From my own personal knowledge I am aware of a situation in which an elderly African-American woman from Compton, CA, who had applied for a loan with Ameriquest, and who was not at that time eligible for a realistic interest rate, was nonetheless steered from her then-current mortgage, with a fixed interest rate of approximately 9%, into an adjustable rate mortgage loan at approximately 11?%.

At the time that I began working for Ameriquest, I was told that I was the first African-American to work in that office, in that capacity. During my employment, I encountered no other minorities either at, or above, my job level.

After working for Ameriquest for several months, I began to feel a personal commitment to my customers who had, after all, entrusted me with their most personal needs and information. Like many of my fellow employees, I began referring some customers to other lending institutions where they could acquire more realistic mortgage loans for lower rates. This was a common practice among my fellow Ameriquest employees, although it was not discussed openly, and was, in fact, prohibited by Ameriquest's policies. Despite this prohibition however, both lower and higher level employees were guilty of this practice.

Some months later, I was dismissed from Ameriquest's employment as a result of these outside referrals. I was the only employee disciplined or discharged at any level for this transgression."

Nuff Said?? Thought so.
/\/\ \/\/
Executive Director
of a Predatory Lending Enterprises

In case you haven't noticed there's another Tom from who knows where that has claimed you were an ex-employee not me.

Your words were "You really need to read the post again if you like I can type slower and put spaces inbetween words so you can understand it better!"

Maybe you should start reading all the posts before you put ignorant comments on here. I am Tom from Missouri, not Tom from Palm Bay Florida.

"So Tom you should try a different approach, I mean you are really starting to look very stupid right now LMAO !"

Who's looking stupid now??? Should I change my name to Thomas to make it easier for you to understand or is that just a waste of time? Let me know....

Hey tom were do you see anywhere on any of the forums that says I work for ameriquest? I have never worked for ameriquest or any mortgage company ever!

You really need to read the post again if you like I can type slower and put spaces inbetween words so you can understand it better!

And if you are trying to sway peoples attention away from your stupid remarks it wont work bro trust me.

So Tom you should try a different approach, I mean you are really starting to look very stupid right now LMAO !

Hey all the regs in these forums please let tom know that hes pissing up the wrong tree. Maybe if other people read what you are writing they can explain it better than i can because it seemd that you JUST DONT GET IT !

Well i got to get talking to tom seems to be a waist of time!

Ken I don't care if you "believe (me) after what your company has done to me". It's not my company and this site has been an eye-opener for me. If others find some insider information helpful in their cases and potential cases then that's what matters. Stop being so selfish.

Lets start over you say that we need ex - employees help to get back @ ameriquest? News flash buddy what have you or any other ex employee said on these sites that would help us?

We have all contacted the attorney generals office. Most have hired council, and some like me have stopped the foreclosure process on our homes.

So you may have said a few things that might help but we all have done this process already! What ex-employess need to do is go to the media, call the attorney generals office or even go to the FBI. I have talked to the FBI here in grand rapids they would love to hear from you guys.

But until ex-employees get a back bone their isnt really anything you guys have done to help.So if you are comming on here to try to make your self feel good about the criminal activities that you have participated well go somewhere else.

We are all really tired of hearing your excuses and crapy advice.Thats why most have hired attornys.I mean really bro do you really think i would believe you after what your company has done to me.You are out of your mind!!!!

Like I said before you have no idea what me and everyone else is going through nor do you really know what this can do to your family.

Have a great day!

Lets start over you say that we need ex - employees help to get back @ ameriquest? News flash buddy what have you or any other ex employee said on these sites that would help us?

We have all contacted the attorney generals office. Most have hired council, and some like me have stopped the foreclosure process on our homes.

So you may have said a few things that might help but we all have done this process already! What ex-employess need to do is go to the media, call the attorney generals office or even go to the FBI. I have talked to the FBI here in grand rapids they would love to hear from you guys.

But until ex-employees get a back bone their isnt really anything you guys have done to help.So if you are comming on here to try to make your self feel good about the criminal activities that you have participated well go somewhere else.

We are all really tired of hearing your excuses and crapy advice.Thats why most have hired attornys.I mean really bro do you really think i would believe you after what your company has done to me.You are out of your mind!!!!

Like I said before you have no idea what me and everyone else is going through nor do you really know what this can do to your family.

Have a great day!

Lets start over you say that we need ex - employees help to get back @ ameriquest? News flash buddy what have you or any other ex employee said on these sites that would help us?

We have all contacted the attorney generals office. Most have hired council, and some like me have stopped the foreclosure process on our homes.

So you may have said a few things that might help but we all have done this process already! What ex-employess need to do is go to the media, call the attorney generals office or even go to the FBI. I have talked to the FBI here in grand rapids they would love to hear from you guys.

But until ex-employees get a back bone their isnt really anything you guys have done to help.So if you are comming on here to try to make your self feel good about the criminal activities that you have participated well go somewhere else.

We are all really tired of hearing your excuses and crapy advice.Thats why most have hired attornys.I mean really bro do you really think i would believe you after what your company has done to me.You are out of your mind!!!!

Like I said before you have no idea what me and everyone else is going through nor do you really know what this can do to your family.

Have a great day!

Lets start over you say that we need ex - employees help to get back @ ameriquest? News flash buddy what have you or any other ex employee said on these sites that would help us?

We have all contacted the attorney generals office. Most have hired council, and some like me have stopped the foreclosure process on our homes.

So you may have said a few things that might help but we all have done this process already! What ex-employess need to do is go to the media, call the attorney generals office or even go to the FBI. I have talked to the FBI here in grand rapids they would love to hear from you guys.

But until ex-employees get a back bone their isnt really anything you guys have done to help.So if you are comming on here to try to make your self feel good about the criminal activities that you have participated well go somewhere else.

We are all really tired of hearing your excuses and crapy advice.Thats why most have hired attornys.I mean really bro do you really think i would believe you after what your company has done to me.You are out of your mind!!!!

Like I said before you have no idea what me and everyone else is going through nor do you really know what this can do to your family.

Have a great day!

Open your eyes...I'm here trying to help you, SCREWED CONSUMERS, in getting back at Ameriquest. The living in an apartment and looking at porn or whatever you were venting about is quite childish. I want people to get back at the company that screwed them, whether you like it or not you need the ex-employees info to get back at Ameriquest

You really need to read all these forums again.I and many others have read our docs but after the fact. When you have a smooth talker come to your home to have you sign docs and tells you that it needs to be done by 5:00 or you wont get this killer intrest rate that he told you that you were getting , you seem to trust him. And I really dont think thier is or have ever been someone that reads all those docs because it would take you a week and you would need to have an attorney look @ them for you.


Then when you call the next day to get copies of your docs because the guy that came to your home says he only has one copy.And when you call the next day and they tell you this guy dosent work here anymore and then you start making phone calls and get this huge run around and are able to talk to someone that might seem to give 2 shits 2 weeks later your kinda screwed!


So dont tell me im blind, i just trusted a company that i though was looking out for my best interest, only to find out it was all part of their plan to screw me over.But one thing that i am is pissed off big time and have hired a very good attorney and will have my day in court.

Im the guy that ameriquest wishes they never screwed over trust me im going to make waves, very big waves. So put your self in my shoes their bud. Besides you probably live in an apartment and toss your monkey to internet porn and have a sore hand so you decided to add your 2 cents. Well nobody really wants to hear your mouth ok you have no idea what i or anyone else has been through with this company.


So if i have offended you im kinda sorry its just that im so tired of these employees comming on here and saying things they know nothing about.I do wish you to find other employment but before you stick up for a company get some facts and put yourself in our shoes.

Im sure i speak for everyone on here that we are fed up and really dont care about any current or past employee.

Im mean really do any of them or even you REALLY care if i loose my home that i worked my a*s of to get? Im afraid not.

Seriously Ken, make sure you read everything. To say I haven't said anything that has helped anyone out on this site is unreal. I'm giving you all the appropriate avenues to get away from Ameriquest but apparently you aren't listening. Here you go again from my PREVIOUS post:

If you think that you didn't sign all required documents here is how you obtain proof that will hold up in court against Ameriquest:

They have you sign the documents they want you to see and then copy and paste your signatures on the ones they don't want you to see. This is "arts and crafts" time for the employees. When they provide you with copies of "documents" that you "signed" find a way to compare them to your ORIGINAL paperwork and you will see that there was some cutting and pasting of your signatures. Don't know the legal implications of these actions but if you didn't actually sign ALL of the contract maybe it is null and void and you can get totally out of it with a free and clear house... man that would really hit AMC right where it hurts!!! Hope this helps you guys out.

Ameriquest will be sold within 6 months so don't let their lawyers drag their feet, get what you deserve from these scumbags NOW before they get bought out and you're S.O.L.

After reading Marge's comments, I'm sure she is either delusional or is living in a hospital that will, hopefully, be able to attend to her needs. They may wish to limit her internet access. She has attempted to make herself sound educated but those of us, yes un fortunate people who became Ameriquest customers and educated at that, who can clearly see through her BS comments. You are mistaken, my dear, there are complaints and problems everywhere within this corrupt company you defend.

Maybe, Ms. Mississippi, you should read, again, some of the complaints you claim are from individuals who cannot spell NOR use the english lauguage to say "what they are trying to say". That comment alone sounds a little absurd now doesn't it? I have found most comments with misspelled words to be made by Ameriquest employees AND individuals such as yourself. I'm sure some of the words you have used were taken directly from a thesaurus. It must have taken you a very long time to create your hypothesis to make you appear educated. You are fooling no one. For your information, the customers that have been taken advantage of from your beloved company, myself included, are NOT illiterate. We were just taken advantage of and made a poor choice such as you have by commenting here.

People report negativity because that is just what it is. Good for you that you have such a positive attitude. An attitude that is positively wrong and ignorant that is. You are in denial if you believe that thousands of complaints of this corrupt company are inaccurate. You most certainly need to make yet another visit to your doctor. Ameriquest IS being sued by millions. Do you read the paper or is it even delivered to your hospital room? Oh, and the word poppycock sounds quite silly but I expect nothing more from you.

I can't even address the comment from stripper Stephanie. It just goes to show what filth Ameriquest employs.

After recovering from reading such POPPYCOCK from Stephanie, Ms. Mississippi Marge rears her ugly head once again with more nonsense. As for negative versus positive news, where do you live? Oh yes, you live in a world of fantasy where all is good and positive. If you are looking for satisfied customers, good luck. You may find a couple. I must again say that your internet access should be monitored because if you found more complaints of other companies than Ameriquest, you most definitely should chill in front of the TV, maybe watching your favorite show Jerry Springer, than pulling inaccurate information from, well, under your hospital gown. It is truly frightening to imagine a person of your caliber working in any kind of legal profession. If you feel the need to ask for class action information here, I highly doubt you work in any kind of legal field.

For John, Ameriquest forces NO ONE to sign their fraudulent contract. Lies are used. I qualified for any rate as I had great credit BEFORE Ameriscum ruined it. Oh, did I forget to mention that Ameriquest does NOT advertise they are a sub prime lender? After speaking to their reps, you would believe that Ameriquest is number one and treatws their customers wit hthe utmost respect. What BS that is. You no longer work there because you were fired right? Get a life, Johnny. Like I believe you would not still be employed, making all tha ill-gained profit from screwing your customers every friggin' day. I bet you are now slow in paying YOUR bills since you have NO job now. You are a pathetic piece of s**t.

I was ashamed to see the comments made by Mr. Birmingham, AL. Guess I have grown accustomed to southern hospitality since moving here. He/she/whatever states that is life and to get over it. I hope this disrespectful Alabamian is never faced with a crisis or hardship in life that may force him/her to unfortunately make a poor choice such as refinancing with a company such as Ameriscum. Again, I see an ignorant comparison of a car versus a mortgage loan. Yes, forgery IS a federal offense, but guess what, it happens everyday in the offices of Ameritheft. PERIOD! They will not be open much longer because their customers have decided they have been screwed long enough. Geez, come on. Oh yes, bad apples are abundant and most likely you will find them among Ameriquest reps. I know how the REAL WORLD operates, thanks to Ameriquest. I am no longer the trusting individual I once was. Nor do I plan to take BS from idiots. Think before you speak and you may, but I doubt it, be someone people may listen to.

B's comment of Ameriquest's motto of DO THE RIGHT THING is hilarious. B, I'm sure, is the ONLY one impressed. Don't brad of Ameriquest's hospitality of paying for you hotel room, it only makes you seem even more unstable for being employed. Ameriquest is a popular sponsor ONLY because of the exchange of money. Duh. Go check out the contributions Ameriquest has made in the political world. It's enoug hto make a person gag. And please, take the time to fill your scrapbook. It should only take about 10 minutes. Love your job now because soon you will be on the streets with the many customers you have screwed.

John, I wonder where the term predatory lending originated. You are right, it IS illegal. Doesn't take much to figure that out. Ameriquest has made it a household name and a very popular phrase. Oh, and I don't believe it is thrown around just because a customer didn't like their loan terms. You are a xxxx! I feel there is no more need to address your "poor lot in life" comments you felt necessary to make here. Go find Marge and Stephanie, your comments would be much more appreciated.

Kevin also falls into the same category as the others. I just cannot justify even defending a s**t on customer to him or anyone else who felt the urge to comment on subjects they know ABSOLUTELY NOTHING ABOUT! You, Kevin, are AMERIQUEST PROGRAMMED or should I say brainwashed? I deal with, as you say, the BS your screwed up company hands out to the very customers who keep their sorry a*s in business. But, busines is dwindling. d**n.

Yes, Chris, it is impossible to satisfy EVERY customer but Ameriquest satisfies NO customer. Oh, excuse me, a couple of satisfied customers are here who are so ignorant they wouldn't know how to act if faced with a decent, reputable AND non-fraudulent lender. I did freakin' research. Check out Ameriquest's website. You would think they were God's solution to home ownership. Your attempt to educate the screwed customers of credit ratings failed miserably. YOU get real. I refinanced with Shitquest with EXCELLENT credit because I believed the lying, idiot reps. From now on, you should not comment with remarks as it only makes you seem to be an incompetent idiot which, I'm sure, you are. I needed NO cash out. Cash out? Isn't that what you do when leaving a casino slot machine? I cried a lot in the past since becoming an Ameri*hit-on customer, ****ole, but no more. I've learned to play the game. Ameriscum will be paying for my life of leisure before I'm done. If there are thousands of satisfied customers, as you say, I believe you should move in with Marge in her world of make believe. Don't worry, soon I will complain no more because Ameriquest managers, supervisors, owners, let me sum it up, SCUM, and all their employees will be living on the street, or rather the gutter, where they belong.

Now I will sit back and wait for the rude, inconsiderate and ill-mannered comments I'm sure this will inspire. Go for it, I need a good laugh and more ammunition to give my attorney.

Good question what in the hell are you doing in here.You havent said anything that could help anyone in here.You are or were an employees of these monsters.If you want to make a difference go to the media tell your story tell what you saw tell what you heard while you were their.If you even had a back bone you would do what is right, you and the rest of the ameriquest employees.

I have a question its funny but i havent heard of one ameriquest employee that has EVER done a refi with this compnay and besides if they say they did their full of BS.

Just want to say hi to the regs of this fine site keep up the great work rip off report you guys seem to be the only ones that will help other than our kick &*&* attorneys.

Tom I did not say all x-employees are shady, re-read .I said I know for a fact the loan officer I had was, And if I offended someone. I'am truly sorry.I also said many x-employees stated on this site how they knew faud and other ilegal things were going on.And also no one can help me now, the damage has already been done.
Kay

They will not file bankruptcy, they will be sold and I don't know how this will affect your current situation, and after reading your comments about all ex-employees being fradulent/shady I don't even know what I'm here trying to help you out

I have been trying to get a hold of my lawyer, to ask her what will happen now. This has been going on for over 2 yrs. I wouldn't think they could sell loans in a lawsuite or file Bankruptcy on those loans. Do you know this for a fact, that they will be selling? I appreciate the info on this, just wish my lawyer would hurry and call. I'm getting really drained with this.
Kay

Ameriquest will be sold within 6 months, get a lawyer who's quick to act (if you haven't done so already) and get your case settled/fixed ASAP.

This is the best news I've had for months. I am another victim of AMC mortgage and am currently forclosed on after refinanceing with them and yes they pulled every tactic that the hundreds of people here have experienced. they have forclosed and tried to sell my home on the court room steps. but no one bought it, supposedly but it is now under W M specialty company that I assume is just a post forclosure holding or property management subsidiary of AMC, If anyone can confirm this, I would appreciate it, they have an order of possession, I'm still in my house, and now they have offered a cash for keys program, which I don't trust at all, and I understand that it is only to save them the expense of formal eviction.

Does anyone know how this news may affect my situation or if I have any options and how/or what options, if any, i might use to try and save my home? And if anyone has used the cash for keys option, and how much they may offer for a $71,000 mortgage? Does anyone have a link to the anouncment of their being shutdown, are their assets frozen and can they still proceed with my forclosure, and/or is this why they are offering me this option. Any help or information anyone can give me would be greatly appreciated. Please email me at
Thanks

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

All of you who have had bad experiences with Ameriquest Mortgage will be happy to know that today, May 2, 2006 Ameriquest was shut down nation wide.

This is directed to the ex-employees. I have a few questions, and I hope some of you can answer them.

Just this month I did a refi to help pay off some debt. I worked through Arizona Loan Center (we have a personal friend who is a mortgage broker) and they secured us a loan from Argent. I felt comfortable as I had not seen anything negative about them. I was mortified to find out that they are the same as Ameriquest (my docs stated payments were to be made to Ameriquest).

After having read several of the reports here, I started feeling a little better as I had not dealt with Ameriquest directly. We did a 3-year interest only with a pre-payment penalty. In 3 years, we plan to sell this house and move to another state.

With this in mind, here is my question. What can I expect from Ameriquest now that my loan is funded? Since their only involvement was funding the loan, I did not have to deal with one of their own brokers. Is there anything unusual that I should expect? What should I look out for to make sure they stay in line?

Any information would be appreciated.

I am an ex-employee that worked for the portfolio retention center in Rancho Cordova, CA. There is approx. 30 Ameriquest branchs at this location. I would like to offer another account of the absolute disregard for morality, lawfulness and even basic human decency that is not only accepted but even encouraged and dare I say worshipped by those in charge at Ameriquest mortgage.

Every negative comment that I have read thus far by ex-employees is true and I can say that I witnessed it firsthand and can attest to it. I would also like to state that I am not a "disgruntled employee". I made tons of money at ameriquest and my boss was a long time friend.

However, even when using the money to justify it, ripping people off and committing fraud everyday does get old after a while. I have since left to join another more scrupolous lending institution. I would like to address one reoccuring question that I hear they nay-sayers continue to post "How can they force you sign something that you dont want to" I would like to give a detailed response that is a method taught to all employees that I was involved with.

1) tell customer that you will provide them a low cost low interest rate loan and that before they sign any final documents all fees involved will be disclosed to them, then go as long as you can without actually talking about the fees.

2) tell customer that they will also be able to skip 2 mortgage payments and to use that money to buy themselves something "or just go out and enjoy yourselves for once, we know that you are used to living paycheck to paycheck", at least 75% of the time the customer would run out and blow the money that would be used for the mortgage within a week. If they didn't the first week the loan officer should ask if they have and again encourage them to spend the money. This process was continued until confirmed that they had spent the money.( Keep in mind that the vast majority of Ameriquest customers have no cash reserves and live paycheck to paycheck)

3) Once the L/O has confirmed that they had spent their mortgage payment they would simply wait until the end of them month and then bring cust in to sign loan that had excessive fees and rate on it. If customer balked at the deal we would tell them "Fine don't sign it, but I know you don't have the money right now to make your house payment and that means you will go 30 days late on your mortgage and then you won't be able to get a loan anywhere" even though this is not true it is suprisingly effective.

BELIEVE ME..... this was used ALL OF THE TIME. I made tons of money doing this (40-50K a month) and probably cost alot of people their homes. If you think that you got a "good loan" from Ameriquest then you dont know anything about mortgages.

Best regards

gotta love AMC for getting away with this for so long though

I am a Mortgage Consultant and have had many come my way because they were leary about the constant badgering they were exposed to after calling this company. I have seen too many Good Faith Estimates from this company and can guaranty that they do over charge dramatically. To the tune of $10,800 for closing and costs on a refi, please!
A so-called loan officer (blood sucker) tried telling a client that they had to include all debt on thier credit in order for their ratios to make the limit. LIES. Telling them that 9.75% was the best possible rate they could get within their credit line. LIES. And when they decided not to go with them being told that they were contractually obligated because they gave the OK for the appraisal to be done. LIES.
As a piece of advice for all home owners who need to refinance, SHOP around. Get estimates from those that you can meet face to face. And above all don't feel obligated because you called them. Until you actually signed on the dotted line you owe nothing. Pay nothing upfront but do expect to pay something for the closing costs. Make sure all of the paperwork is explained to you and you understand it.
This kind of company is what gives the mortage business a bad name.

Several months ago, we were considering refinancing our home. Due to credit problems in the past, we aren't exactly in the drivers' seat.
Of course, Ameriquest was willing to "do something for you". They "really wanted to help us."
Once they got our name, phone, etc, they were all over us.
I read this site and decided no way.
Finally I told the rep, "Have you seen what people have said about Ameriquest on the internet?"
He got all defensive, said you can find negative comments about any company if you look for them.
It was fun having this information available to me.

IN RESPONSE TO CHRIS IN BURBANK AND AE IN VENICE;

I have been in management with ameriquest for a long time. I started as a sales rep in 1999 It's good that you both have bought into the AMC "do the right thing" BS...and the FLASH. blimps, mlb, nfl..blah blah.

Let me first start out by correcting Chris;

he states 700+ is good credit and I agree. but what he goes onto say "if you had such good credit, you would not get a loan with Ameriquest you could get a better deal somewhere else"
Chris you obviously don't know all of your products 8A borrowers, I/Os etc.
so, you either have not been trained how to sell loans to customers who have more options because of their good credit,

or when you see 700+ ficos........you're too scared to pitch them because you don't know what the hell your talking about..(perfect example of ameriquest hiring someone without experience. your mgr is brainwashed or dirty and lazy because they have not trained you properly.)

But I can tell you one thing right now. If you were my AE .. YOU WOULD BE SUSPENDED/TERMINATED TOMORROW, after reading your report, and calling one of our customers an IDIOT!!!

Chris to answer your question.."how the heck" are we the official sponser of MLB NFL Superbowl etc....because the company has grown very rapidly over the past years..keeping a blind eye to all of the FRAUD and BAD LOANS they are making. So that's how.

That should also answer the AE in Venice...how we became the "largest sub-prime lender in 18yrs" THINK ABOUT IT...the phrase largest sub-prime lender should tip you off. Also AE in Venice..if you are in one of the top producing offices...and the top rep, then your hands are not clean. give me a break. yes you can book business the right way at AMC and do well, but that is not the popular trend amongst our top producing offices.

AS FAR AS GOING PUBLIC IN 2005, they have been telling us that same line of bull sh*t since 2003. Ameriquest has so many issues across the country where they are and have been violating federal laws, RESPA, even here in california the California Finace Lenders LAW. SURPRISE!

Despite the FACT Ameriquest has been selling off piles of crap to our investors..LOANS that are called 8As 0x30 and has no problems on title..full doc, or even the ever popular "bank statements" approach which are for the most part made up BS ..so AEs sign these customers and "force" the loan to work..or get creative TO GET THAT 105.5 REV...instead of calling a spade a spade.

So these loans disguesd as 8As full doc, clean title etc ....are all really pieces of crap....and are full of made up info.....so we are defrauding our current investors. SO AS TO THE "AMERIQUEST GOING PUBLIC MYTH." it is bs to keep the employees on the hook.

HOW CAN AMC GO PUBLIC? WHO THE HELL WOULD UNDERWRITE THE IPO FOR THAT STOCK??

CERTAINLY NOT MERRILL LYNCH SINCE THEY'RE ONE OF OUR INVESTORS THAT WE ARE CURRENTLY DEFRAUDING SELLING THEM OUR I/O PRODUCTS, AND OTHER FALSIFIED LOANS..??

AS FAR AS CHRIS AND VENICE STATE THAT THE EMPLOYEES who falsify documents and forgery to book loans get fired...open your eyes and explain to me how Josh Harmatz, Todd Haber, George French, Eric Handler Adam Rothman, were all promoted from AEs to branch managers to now area managers in less than a full calendar year in some cases by not forging and falsifying documents? And then we see Mike Murphy's boy Frank Cortinas' meteroic rise from branch mgr in miami to top area mgr in california to being sent back to miami because why?? the truth was getting out about his business practices. And to cover our tracks Mr. Murphy promoted all of Franks cronies to be his new AREA MGRs since all of the honest ones have resigned. And now Reg. 2 is set up to take this shell game to a whole new level.

Now you two BRAIN-WASHED FOOLS will buy into their rhetoric hook line and sinker, and wined up either being a part of this on-going problem or a casualty of their greed. GOOD LUCK TO YOU.

O.K. In my earlier postings, I have tried to be as polite as I can about those who have been unfortunate enough to be involved with Ameriquest (whether as employees or customers), and have also tried to show you that Ameriquest has been attempting for over a decade to utilize name changes and other slight of hand, in order to make a concerted, long-term effort to disguise its predatory history. Some people, however, still don't get it. In an effort to reach those folks, I have elected to make my statements a little more emphatic. Ready? Here goes:
AMERIQUEST IS A PREDATORY LENDER!!
It is not a "reformed" or "former" or "regretful" predatory lender--it is still engaged in the tactics it has always been involved in--robbing people's equity from them, by a combination of high-pressure tactics, preying on the vulnerable, bait & switch, "bicycling" (look it up--if you don't know the meaning, you shouldn't even be posting on this board!) and other unethical and illegal actions.
If you do business with Ameriquest, knowing this, then you are an idiot, and deserve to lose your home.
If you continue to work for Ameriquest, knowing this, then you are scum, and should be put in jail.
If you continue to publically defend Ameriquest, knowing this, then I suggest that you remember to dress lightly on your deathbed, 'cuz where you'll be goin' next, it's gonna be hot!
In closing, let me leave you with a couple thoughts: First, just because a company can afford to spend money on things like stadiums and blimps does not mean that they are honest; just that they are good at being thieves. Second, if what I am saying, and have said publically for the past five years about Ameriquest were not true, they would have the right to sue me for slander (and/or libel), unfortunately for them however, the TRUTH is a complete defense to a charge of slander.
'Nuff Said!
/\/\ \/\/
Executive Director
Americans Protesting Predatory Lending Practices

I work for ameriquest. yes, sometimes there loans are pricey. However, they did become the largest subprime lender in america in an 18 year period. Companies do not grow that fast for pissing people off. I work for one of the top orginating branches in the company, and I'm one of there top producers. Do I have a few upset borrowers, probable. However, did I provide full disclosuer of there loan... yes. For every upset borrower do I have ten happy ones yes! Ameriquest grow so fast it's training procdures could not keep up. So it was easy for employees to maniuplate loan underwriting procedures, and forge documents, and NOT GET CAUGHT. Does that still happen? NO, employees get fired all that for document maniupulation, on whats called a reverse audit. Has company training changed, yes drastically. Ameriqust has exceptional training for people new to the industry. I however did work for a broker and another subprime direct lender befor starting with ameriquest. And, no I'm not ripping people off and I am familer with prime bank rates. Ameriquest is by far the best company I have worked for in all my work experience. I do come across many complaints and the company does make incredible efforts to rectife disagreements. If you want a fast mortgage close go with ameriquest. Also the company will be going puplic sometime in 2005. Ameriquest has been changing many policyies and procedures to get ready for this. Some people may have been affected by document manipulation and other things in the past. But, with going public within the next year all that stuff will be gone. secret shoppers will come to rate its account executives and chatch forgeriers. Also being relased in the next few weeks are more prime programes for A (good credit borrowers). As far as credit scoring and grading Ameriquest is very compative as a specialized lender. For example credit scores in the low 600's are not necassarly that good, you can still have 60 day mortgage lates and have a score over 600. If you are or where behind on a mortgage for sixty days your not going to get a prime rate loan from a bank. Your going to end up at a stripmall lender HFC, Beneficail, citi financial, wells fargo financial all subprime shops that will take longer to close your loan in many case's charge more points (state max) and a higher interest rate for a more stressful process. My advice work with your account executive, if your really unhappy with what your quoted shop your loan. But, many of those other lenders have been sought out by community activist groupes for foul play. Ameriquest has not!!!

You don't know everyone's individual situations and who are you to call people idiots? First of all, credits scores in the upper 600's ARE good, I don't know where you get your information from, maybe you need to do some (as you so elegantly put it) "freakin research." In my situation, like I stated before (which you must have skimmed over), we didn't know Ameriquest was for people with "less than perfect credit." I admitted that I should have done research, but that doesn't mean just because I didn't know better, that Amerquest could use that to rip me off.
How long have you worked for them? I see no other obvious reason for you to be posting other than the fact that you are an employee, and apparently a newer one. Read all the posts from ex-employees and get used to what they are saying because I'll give you another 6 months before you start saying the same thing. Don't stick up for a company that treats its customers AND employees like expendables and DON'T come on here talking all high and mightly because you think you have one up on all of us.
And for your information, we got out of our loan with Ameriquest and are with a mortgage company that I can trust. Also got a better rate with NO POINTS, guess that's what happens when you don't have good credit???
Good luck with your future job search.

Okay everyone listen up. For all of you who have had bad experiences with Ameriquest I'm sorry. I'm pretty sure that there are a few bad apples at the company. But listen, every business has complaints. Whether it be mortgages, markets, selling toys, it doesn't matter. It is IMPOSSIBLE to satisy every costumer.

Now when you sign loan docs with the notary present, it is up to YOU to carefuly read all the docs before you sign. Not just with mortgages, but with everything. If they promised you a 5% and you ended up with 7% and you signed those docs, too bad!

If you're going to refinance your most important asset, do some freakin research please. Oh and for all of you who say you have good credit cuz your fico is in the 600's, guess what you don't! Good credit is 700+. And even if you make everypayment on time doesn't mean you have good credit. Now lets be real.

If you had such great credit, you would not get a loan with Ameriquest because to be honest, you can get a much better rate with the other big lenders. But the reason you went with Ameriquest was becuase you had a specific reason.Either you had bad credit and no one else would give you a loan.

Maybe you need cash out really fast and no other mortgage company can get you cash out faster than Ameriquest. Or maybe you had a lot of credit card debt and you wanted to consolidate. Bottom line when you signed those loan docs, there was some benefit to the loan so stop crying about it.

If there was no benefit, you're an idiot for signing a loan with no benefits. If this company was really fraudulent like "Boiler Room" then how the heck are they the official sponsor for the NFL, MLB, and sponsoring the super bowl? They are in the top ten out of all the lenders. They are the #1 privately owned lender.

Thousands and thousands of people are happy with their loans with ameriquest, and there are like 10 people here complaining about theirs. Get a better perspective and stop complaining.

Okay everyone listen up. For all of you who have had bad experiences with Ameriquest I'm sorry. I'm pretty sure that there are a few bad apples at the company. But listen, every business has complaints. Whether it be mortgages, markets, selling toys, it doesn't matter. It is IMPOSSIBLE to satisy every costumer.

Now when you sign loan docs with the notary present, it is up to YOU to carefuly read all the docs before you sign. Not just with mortgages, but with everything. If they promised you a 5% and you ended up with 7% and you signed those docs, too bad!

If you're going to refinance your most important asset, do some freakin research please. Oh and for all of you who say you have good credit cuz your fico is in the 600's, guess what you don't! Good credit is 700+. And even if you make everypayment on time doesn't mean you have good credit. Now lets be real.

If you had such great credit, you would not get a loan with Ameriquest because to be honest, you can get a much better rate with the other big lenders. But the reason you went with Ameriquest was becuase you had a specific reason.Either you had bad credit and no one else would give you a loan.

Maybe you need cash out really fast and no other mortgage company can get you cash out faster than Ameriquest. Or maybe you had a lot of credit card debt and you wanted to consolidate. Bottom line when you signed those loan docs, there was some benefit to the loan so stop crying about it.

If there was no benefit, you're an idiot for signing a loan with no benefits. If this company was really fraudulent like "Boiler Room" then how the heck are they the official sponsor for the NFL, MLB, and sponsoring the super bowl? They are in the top ten out of all the lenders. They are the #1 privately owned lender.

Thousands and thousands of people are happy with their loans with ameriquest, and there are like 10 people here complaining about theirs. Get a better perspective and stop complaining.

Okay everyone listen up. For all of you who have had bad experiences with Ameriquest I'm sorry. I'm pretty sure that there are a few bad apples at the company. But listen, every business has complaints. Whether it be mortgages, markets, selling toys, it doesn't matter. It is IMPOSSIBLE to satisy every costumer.

Now when you sign loan docs with the notary present, it is up to YOU to carefuly read all the docs before you sign. Not just with mortgages, but with everything. If they promised you a 5% and you ended up with 7% and you signed those docs, too bad!

If you're going to refinance your most important asset, do some freakin research please. Oh and for all of you who say you have good credit cuz your fico is in the 600's, guess what you don't! Good credit is 700+. And even if you make everypayment on time doesn't mean you have good credit. Now lets be real.

If you had such great credit, you would not get a loan with Ameriquest because to be honest, you can get a much better rate with the other big lenders. But the reason you went with Ameriquest was becuase you had a specific reason.Either you had bad credit and no one else would give you a loan.

Maybe you need cash out really fast and no other mortgage company can get you cash out faster than Ameriquest. Or maybe you had a lot of credit card debt and you wanted to consolidate. Bottom line when you signed those loan docs, there was some benefit to the loan so stop crying about it.

If there was no benefit, you're an idiot for signing a loan with no benefits. If this company was really fraudulent like "Boiler Room" then how the heck are they the official sponsor for the NFL, MLB, and sponsoring the super bowl? They are in the top ten out of all the lenders. They are the #1 privately owned lender.

Thousands and thousands of people are happy with their loans with ameriquest, and there are like 10 people here complaining about theirs. Get a better perspective and stop complaining.

I can say this finally and for the first time in my life. There are useful departments in the government!

Ameriquest tried a shuffle of funds on me back in September, so I went to the Department of Banking in Massachusetts with all my facts. I submitted my complaint over the Net with no hiccups. 10 business days later, apology letter from Ameriquest, survey from banking department, and two checks from Ameriquest. One check for the amount they owed us, plus another for Interest on that money.

When I spoke to the local consumer advocates group, they in no uncertain terms advised me to go to the Department of Banking. I have since discovered an acquaintance who went the same route with Ameriquest and was similarly satisfied.

Close the book on this one.......

I have been working here for about two months now and I have had the chance to work for other companies such as brokers and Countrywide. I will say that I have been very well trained and I didn't really need to be. I have a few years of mortgage background and know what I am doing but I was still told I had to go to training. I will also say that I have NEVER heard or been told to do anything out of line such as forging docs.

I can agree with some of the people who say that it is a very high stressed and demanding job, but there is good money to be made and you are paid for your hours there. I can see the point of some clients who have had bad experiences but maybe it has something to do with your credit or pay history on your mortgage or maybe you just had a bad loan officer, I don't know your situations. I will say that Ameriquest closes loan fast and sometimes that scares people, but like it has been mentioned before, If we were such a bad company we would not have been in business this long.

I will say though that I can see nonproduceers being let go fast, but I also see employees that are getting the job done up to Ameriquest standards being compensated very well. I will report back when I have seen more, but so far......I am still impressed.

As you can guess there really isn't a mortgage Co. that to many people could recommend. If you lose your house or some other really back thing happened you may want to get even with the person that sent you to that company.

But maybe this will help. 1)HUD will assist you at your local office. They have a program to assist homeowners who are in danger of forclosure you at some point you will need to start paying again. If your local HUD can not help or they do not have this program call the Housing Counseling Center Locator at 1-888-466-3487.

2)Try Mr. Bill Parker, Coordinator State of Michigan Housing Development Authority P.O. Box 30044 Lansing MI 48909-7544 517-3763-1462.
This will not be a snap of the finger thing, Government does not move at light speed.

3) Go to the government web site: www.student.gov.
you can fill out a questionaire and the will send you via e-mail places that give scholarships. Walmart,K-mart,Target,and even Dollar General will give you the paperwork,just ask or go to their website and print the app.

Hope some of this helps, Also The Catalog of Federal Domestic Assistance will list every grant the goverment has. Just go to www.cfda.gov and do a search or go to your search engine and search for the help you need. It is also at your Libary, but it is more up to date at the web site.

HELP TIP PLEASE...I am a working mother of three children. One is in college. Three years ago I took out a HUD loan for home improvements which unfortunately I have defaulted on. The loan is now in the hands of some company with the initials DCS. This company is threatening to garnish my wages but insists that all can be forestalled if I talk to and make a loan out with Ameriquest. I have tried to refinance my house which easily has $30,000.00 equity but due to slow and late pays on my mortage loan I have been denied. Currently, I have a more lucrative job position but playing catch up is killing me. I am finishing my Bachelors at U of M as well as trying to keep my oldest at EMU. I need to know what lenders would be able to help. I am afraid to even make the phone call to Ameriquest after reading the rip off reports and do not know where to turn. I do not have any credit card debt or auto loan debt. I am trying to make my life better not worse by being coerced into signing for something that will make my life and finances worse. HELP!!!

My wife and I were first time homeowners. We
didn't have great credit but it was decent. We
had a different mortgage company before Ameriquest came into the question. We were promised so many things like a lower interest rate, a house payment with insurance and taxes included, a fixed rate, and we were drawing off the equity in our home since we put 30,000 down when we bought it. They took us for a ride. We did not get anything they told us. We signed documents that were blank and did not even get all the closing documents at the closing of loan. We believe they forged our name on documents they over appraised our home. We did not know any of this though until about 1 1/2 years ago when we wanted to refinance. The loan officer said he could not refinance us because they had us making over 5,500 dollers and our house was not worth what it was appraised for. We have gotten a notice that they want to foreclose and we probably will lose our home. We did seek a lawyer
but he seems not to believe us or that we are crazy. If someone reads this and they are in Iowa or in the Des Moines area that can help please email me at unclespiffy65@msn.com.
Thankyou,

My wife and I were first time homeowners. We
didn't have great credit but it was decent. We
had a different mortgage company before Ameriquest came into the question. We were promised so many things like a lower interest rate, a house payment with insurance and taxes included, a fixed rate, and we were drawing off the equity in our home since we put 30,000 down when we bought it. They took us for a ride. We did not get anything they told us. We signed documents that were blank and did not even get all the closing documents at the closing of loan. We believe they forged our name on documents they over appraised our home. We did not know any of this though until about 1 1/2 years ago when we wanted to refinance. The loan officer said he could not refinance us because they had us making over 5,500 dollers and our house was not worth what it was appraised for. We have gotten a notice that they want to foreclose and we probably will lose our home. We did seek a lawyer
but he seems not to believe us or that we are crazy. If someone reads this and they are in Iowa or in the Des Moines area that can help please email me at unclespiffy65@msn.com.
Thankyou,

My wife and I were first time homeowners. We
didn't have great credit but it was decent. We
had a different mortgage company before Ameriquest came into the question. We were promised so many things like a lower interest rate, a house payment with insurance and taxes included, a fixed rate, and we were drawing off the equity in our home since we put 30,000 down when we bought it. They took us for a ride. We did not get anything they told us. We signed documents that were blank and did not even get all the closing documents at the closing of loan. We believe they forged our name on documents they over appraised our home. We did not know any of this though until about 1 1/2 years ago when we wanted to refinance. The loan officer said he could not refinance us because they had us making over 5,500 dollers and our house was not worth what it was appraised for. We have gotten a notice that they want to foreclose and we probably will lose our home. We did seek a lawyer
but he seems not to believe us or that we are crazy. If someone reads this and they are in Iowa or in the Des Moines area that can help please email me at unclespiffy65@msn.com.
Thankyou,

B....I am educated..MA in Human Resources...I do this because I like it and am Top LO in my region. Why? I don't lie. I type fast and don't have time to edit because I'm on the phone half the time when I'm typing this(Yes...I can type and talk at the same time)...and write in this forum like I would speak it.

I have an undergrad in communication and know how to write. I am too busy with clients to deal with triviality any longer and DON'T need a dictionary to understand proper English. Evidently some do to talk in a manner that sounds more educated than you.

Firsthand experience teaches me Ameriquest is as bogus as a 3 dollar bill. Enough said...reply if you must.

First Kevin, anyone who has used the internet more than a week knows that you do not use all Caps unless you are yelling. If you sent your reply in angry, than as a broker you need to start your own web site to complain about consumers. If I remember right you need consumers to make a living and you need to sale to resale. So maybe you should call it: I don't like the people that are paying me to live and eat well along with that car I'm driving. This is your opinion, as well as what I write is my opinion (Except for the stats). This right has not been taken away yet. Yes ,I do have numbers to back up what I say and I hope you have proof of what you say. I am not a large Company out advertizing for business, I am the little guy who can not afford to go out and be a big sponsor for some great event, all I want is a home, the American dream, and for big jerks to put up or shut up. I know other places rip people off, all of the time. But this is my board to let off steam about Ameriquest. What are you even doing here? Go start your own site.
I can not reply to all of your message because I really could not understand the string of words that you belched out at the last. By the way my name is spelled JENNIFER. PS if you look to the left of the box for "your response" you will see a sentence that clearly states: Don't us all CAPITAL LETTERS. Take the blinders off Dude.

Much to my shame and disappointment, the NFL has has picked "Ameriquest" as the halftime show sponsor for the 2005 Super Bowl which will be in Jacksonville FL. I know this is not the Company that I would want to sponsor the halftime. I would not want to be asociated with this company if I were an NFL employee, but I'm not. I know this is a money thing but each of us has given AQ the money to ripoff more people.

"Halftime is the most-watched TV show annually. Last years halftime had a record 144 million viewers. This year even more will watch" says B.Mc. the NFL's director of corporate communications. "There is no better stage to reach massive, diverse and passionate audience than the Super Bowl Halftime Show. We never predict, but it's likely to be the most anticipated halftime show."

In my humble opinion I think that maybe some of these people at the NFL should hear some of these problems. It may not help but someday, maybe, I can look back and say NFL "I told you so". If the halftime was going to be boycotted by people turning it off (watch the game, that would be asking to much to turn it off)and they knew it maybe it would make s difference, I know what a dreamer.

JENIFER- YOU STATED THAT YOU SHOULD EXPECT WHAT IS ADVERTISED BY AMERIQUEST, WELL THEN I ASSUME WE SHOULD EXPECT PROOF OF WHAT YOU SAY. DO YOU HAVE ANY? SOMETHING THAT WOULD PROVE THAT OUR BORROWERS HAVE NO COMPUTERS AND COULD DO NO RESEARCH. OR IS THAT JUST A RIDICULOUS NUMBER THAT YOU THREW OUT.
MAYBE YOU SHOULD HAVE DONE MORE RESEARCH, AND LOOKED AT THE BBB IN OTHER CITIES, OR HOW ABOUT SEARCHING FOR COUNTRYWIDE, WAMU, WELLS FARGO AND HEAR ABOUT THEIR HORROR STORIES. COMPLAINT ARE COMMON IN THIS TYPE OF BUSINESS, AND FOR THE BROKERS THAT REPLY TO THIS THREAD, THEY RIP PEOPLE OFF JUST AS BAD, THEY MAY CHARGE LESS UP FRONT, BUT WHAT ARE THEY GETTING ON THE BACK END? AND TO SAY WELL I AS A CONSUMER AM NOT PAYING THAT, WELL YOU ARE BECAUSE THEY INCREASED YOUR RATE IN ORDER TO GET PAID ON THE BACK. I KNOW THIS BECAUSE I AM A BROKER

To John: when you see a company plastered all of Tv and in print that they are the good guys and will give you your personal loan officer who will work with you from the beginning to the end, why wouldn't you believe all of this? I had a 625 score and put feelers out to 5 companies. I was offered 5 loans. Ameriquest gave me the best rate at the time which was 6%. I am in my last year for a Masters and this was my first home.

I called a real estate lawyer(he also does closings) and asked him about Ameriquest and he said he had not heard anything bad. That is because a lawyer will not take a case unless a $100,000 for their fee is looking very good. There were no reports to the BBB because they were not a member in Jaxs Fl.

When I called the BBB said "there are no complains against this Company". So to you my friend "YOU NEED TO GET A CLUE" because Ameriquest did it in the office, with an ink pen.

To Kevin: Ameriquest may do 16,000 loans a month but; 25% (4000) do not have a computer. 50% (8000) do not know how to search / research, or have no idea that there is a board with these complaints regarding the disruption of their otherwise normal lifes by a company that we pay to rip us off. That leaves another 25%(4000) that get loans and may or not get ripped off.
But lets face it, "NO ONE SHOULD GET RIPPED OFF"!

To John: when you see a company plastered all of Tv and in print that they are the good guys and will give you your personal loan officer who will work with you from the beginning to the end, why wouldn't you believe all of this? I had a 625 score and put feelers out to 5 companies. I was offered 5 loans. Ameriquest gave me the best rate at the time which was 6%. I am in my last year for a Masters and this was my first home.

I called a real estate lawyer(he also does closings) and asked him about Ameriquest and he said he had not heard anything bad. That is because a lawyer will not take a case unless a $100,000 for their fee is looking very good. There were no reports to the BBB because they were not a member in Jaxs Fl.

When I called the BBB said "there are no complains against this Company". So to you my friend "YOU NEED TO GET A CLUE" because Ameriquest did it in the office, with an ink pen.

To Kevin: Ameriquest may do 16,000 loans a month but; 25% (4000) do not have a computer. 50% (8000) do not know how to search / research, or have no idea that there is a board with these complaints regarding the disruption of their otherwise normal lifes by a company that we pay to rip us off. That leaves another 25%(4000) that get loans and may or not get ripped off.
But lets face it, "NO ONE SHOULD GET RIPPED OFF"!

To John: when you see a company plastered all of Tv and in print that they are the good guys and will give you your personal loan officer who will work with you from the beginning to the end, why wouldn't you believe all of this? I had a 625 score and put feelers out to 5 companies. I was offered 5 loans. Ameriquest gave me the best rate at the time which was 6%. I am in my last year for a Masters and this was my first home.

I called a real estate lawyer(he also does closings) and asked him about Ameriquest and he said he had not heard anything bad. That is because a lawyer will not take a case unless a $100,000 for their fee is looking very good. There were no reports to the BBB because they were not a member in Jaxs Fl.

When I called the BBB said "there are no complains against this Company". So to you my friend "YOU NEED TO GET A CLUE" because Ameriquest did it in the office, with an ink pen.

To Kevin: Ameriquest may do 16,000 loans a month but; 25% (4000) do not have a computer. 50% (8000) do not know how to search / research, or have no idea that there is a board with these complaints regarding the disruption of their otherwise normal lifes by a company that we pay to rip us off. That leaves another 25%(4000) that get loans and may or not get ripped off.
But lets face it, "NO ONE SHOULD GET RIPPED OFF"!

To John: when you see a company plastered all of Tv and in print that they are the good guys and will give you your personal loan officer who will work with you from the beginning to the end, why wouldn't you believe all of this? I had a 625 score and put feelers out to 5 companies. I was offered 5 loans. Ameriquest gave me the best rate at the time which was 6%. I am in my last year for a Masters and this was my first home.

I called a real estate lawyer(he also does closings) and asked him about Ameriquest and he said he had not heard anything bad. That is because a lawyer will not take a case unless a $100,000 for their fee is looking very good. There were no reports to the BBB because they were not a member in Jaxs Fl.

When I called the BBB said "there are no complains against this Company". So to you my friend "YOU NEED TO GET A CLUE" because Ameriquest did it in the office, with an ink pen.

To Kevin: Ameriquest may do 16,000 loans a month but; 25% (4000) do not have a computer. 50% (8000) do not know how to search / research, or have no idea that there is a board with these complaints regarding the disruption of their otherwise normal lifes by a company that we pay to rip us off. That leaves another 25%(4000) that get loans and may or not get ripped off.
But lets face it, "NO ONE SHOULD GET RIPPED OFF"!

I've already put in my 2 cents here but I just thought I'd add...

To Joe from Albany:

I just wanted to point out that it is quite obvious that you had a dictionary next to you during the 2 hours that it took you to put together those few paragraphs of garbage babble. Not only was what you said incorrect, most of the false information came with incorrect word usage and lack of proper punctuation.

If you are going to try to sound educated and blast another company because they get paid more than you to do the same job, at least have the courtesy to not go beyond yourself to make it happen. THANKS!

As a former manager for ameriquest I can attest that this company does not promote fraud under any circumstances. This does not mean that fraud does not take place, it most definately does, but to suggest that area or regional managers are promoting it is ridiculous. "truth" has made comments such as 6% in points, and prepays are manditory unless you are a certain age is simply a lie. I am pretty certain that many of the people complaining would not qualify for loans with other lenders. It is true that the money paid to management is unbelievable, however don't fault a company for taking care of their people. Many managers and A/E's have been fired from Ameriquest for fraud, and those individuals should be prosecuted, but many others have never stepped outside the law. Remember this is a compant that does 16,000 loans a month on the retail side, and how many complaints are on this board? A few hundred or so. I agree 1 is too many and Ameriquest is getting better everyday. If you truely have a legit issue, call the office of the president, but if your just pissed off becaus eyou did not read the documents that you signed, deal with it

John,

You are such a liar....you don't see like I do the misrepresentations Ameriquest people put upon people.

They continuously say "yeah...I can get you a loan at 6%" and then completely change everything at the last minute. I work for a reputable lender...not like you. You guys give good-faith estimates that may as well be used at toilet paper...they aren't good for anything else. Things are grossly misrepresented, underrepresented, and generalized to the point of uselessness. You use appraisers who lie about values up or down to however it creates the most advantage to you....and often close without appraisals, documents or anything and then chase "stips" after you close using the 7 days that the government was stupid enough to give you.

I have seen COUNTLESS instances first-hand of blatant lies and manipulation, and switching of terms for no good reason. Most times whomever is quoting didn't even pull credit before getting an appraisal ordered from some unsuspecting slob. Yeah...they may not be bright, or can afford personal financial planners. But they can sure use someone HONEST to give them a deal that doesn't bury them like Ameriquest does.

You and your company thoroughly nauseate me and I hope someone comes in and shutters your doors permanently. You all deserve what's coming...and it will sooner or later. SCUM OF THE EARTH!!!!

From an HONEST mortgage specialist...not a rip-off artist. Sub prime is sub prime...but not dished out like Ameriquests daily hashing out of lies, deceipt and totally unethical behavior.

Hope you end up in jail you creep.

John,

You are such a liar....you don't see like I do the misrepresentations Ameriquest people put upon people.

They continuously say "yeah...I can get you a loan at 6%" and then completely change everything at the last minute. I work for a reputable lender...not like you. You guys give good-faith estimates that may as well be used at toilet paper...they aren't good for anything else. Things are grossly misrepresented, underrepresented, and generalized to the point of uselessness. You use appraisers who lie about values up or down to however it creates the most advantage to you....and often close without appraisals, documents or anything and then chase "stips" after you close using the 7 days that the government was stupid enough to give you.

I have seen COUNTLESS instances first-hand of blatant lies and manipulation, and switching of terms for no good reason. Most times whomever is quoting didn't even pull credit before getting an appraisal ordered from some unsuspecting slob. Yeah...they may not be bright, or can afford personal financial planners. But they can sure use someone HONEST to give them a deal that doesn't bury them like Ameriquest does.

You and your company thoroughly nauseate me and I hope someone comes in and shutters your doors permanently. You all deserve what's coming...and it will sooner or later. SCUM OF THE EARTH!!!!

From an HONEST mortgage specialist...not a rip-off artist. Sub prime is sub prime...but not dished out like Ameriquests daily hashing out of lies, deceipt and totally unethical behavior.

Hope you end up in jail you creep.

John,

You are such a liar....you don't see like I do the misrepresentations Ameriquest people put upon people.

They continuously say "yeah...I can get you a loan at 6%" and then completely change everything at the last minute. I work for a reputable lender...not like you. You guys give good-faith estimates that may as well be used at toilet paper...they aren't good for anything else. Things are grossly misrepresented, underrepresented, and generalized to the point of uselessness. You use appraisers who lie about values up or down to however it creates the most advantage to you....and often close without appraisals, documents or anything and then chase "stips" after you close using the 7 days that the government was stupid enough to give you.

I have seen COUNTLESS instances first-hand of blatant lies and manipulation, and switching of terms for no good reason. Most times whomever is quoting didn't even pull credit before getting an appraisal ordered from some unsuspecting slob. Yeah...they may not be bright, or can afford personal financial planners. But they can sure use someone HONEST to give them a deal that doesn't bury them like Ameriquest does.

You and your company thoroughly nauseate me and I hope someone comes in and shutters your doors permanently. You all deserve what's coming...and it will sooner or later. SCUM OF THE EARTH!!!!

From an HONEST mortgage specialist...not a rip-off artist. Sub prime is sub prime...but not dished out like Ameriquests daily hashing out of lies, deceipt and totally unethical behavior.

Hope you end up in jail you creep.

John,

You are such a liar....you don't see like I do the misrepresentations Ameriquest people put upon people.

They continuously say "yeah...I can get you a loan at 6%" and then completely change everything at the last minute. I work for a reputable lender...not like you. You guys give good-faith estimates that may as well be used at toilet paper...they aren't good for anything else. Things are grossly misrepresented, underrepresented, and generalized to the point of uselessness. You use appraisers who lie about values up or down to however it creates the most advantage to you....and often close without appraisals, documents or anything and then chase "stips" after you close using the 7 days that the government was stupid enough to give you.

I have seen COUNTLESS instances first-hand of blatant lies and manipulation, and switching of terms for no good reason. Most times whomever is quoting didn't even pull credit before getting an appraisal ordered from some unsuspecting slob. Yeah...they may not be bright, or can afford personal financial planners. But they can sure use someone HONEST to give them a deal that doesn't bury them like Ameriquest does.

You and your company thoroughly nauseate me and I hope someone comes in and shutters your doors permanently. You all deserve what's coming...and it will sooner or later. SCUM OF THE EARTH!!!!

From an HONEST mortgage specialist...not a rip-off artist. Sub prime is sub prime...but not dished out like Ameriquests daily hashing out of lies, deceipt and totally unethical behavior.

Hope you end up in jail you creep.

John from Ann Arbor is Incorrect,

John response included the phrase "The Law on all mortgages is a 3 day right of cancellation". That is just wrong. It only applies when the homeowner is completing a refi or equity product with CASH OUT. Regular purchase mortgages are funded as of the closing. I understand why this guy is an ex employee. He doesn't even understand the different kind of mortgage products and the rules surrounding their use.

Why do you post such angry remarks to our complaints, are you an employee? Or better yet, are you one of their attorneys? It doesn't matter, what you are saying is not untrue about some people not knowing better by chosing Ameriquest.

But what you aren't saying is how Ameriquest cons you into signing those loan papers. We all know that it's not completely Ameriquest's fault, but look at all these posts.

Why do you feel you have to stick up for a company that has too many complaints with the BBB to count? If you are going to fight for someone,

I suggest you pick a company that deserves it. This site is for people who have legitimate complaints to post them. It's not for someone like you to come on here and call us stupid for making a mistake and chosing Ameriquest for our mortgage company.

And if you are looking for class action lawsuits with Ameriquest, I'm sure you could do a search and find info about it. You seem to be smart enough to look for the case numbers yourself.

I would love to know how you got "taken". Predatory lending is illegal, and it is easy for anybody to throw the term around on a loan they do not like. The fact is you did not qualify or research the availability of other loans. The loans Ameriqust makes are not for everybody. They are higher risk, and therefore require higher fees and rates.

Most could not get any other type of loan. The law on ALL mortgages is a 3 day right of cancellation. YOU would be the stupid person who did not get copies of your original loan documents (when you bought the house did you not get title or the keys too).

The people who apy their loans dont ever seem to have issues with Ameriquest. They usually get a loan, then decide wait if I had good credit this is what I should have gotten. Well you didnt. If your payment is received on time and the check is cashed it is impossible for them to claim they did not receive funds.

It seems to those of you whining here have forgotten that YOU are responsible for your financial situation. If you are too cheap to talk to a financial advisor or lawyer regarding yoru loan, then you were the one who failed to do the job. If you arent willign to read the documents or demand copies, then who is at fault then. Why dont all these peopel who say there are all these class action suits start givng case numbers.

Court records are public douments and we can all look over the validity of your claims. Otherwise you are just venting here about your poor lot in life.

John,

Just as an fyi in regards to the class action lawsuit involving employees; the majority of us who worked with Ameriquest during that time frame were approached by the attorney's to be included. I'm sorry you feel that those of us who spent many agonizing hours away from our families soliciting loans for Ameriquest didn't cut it. I made the cut just fine, matter of fact, one of the top producers in the office, but at some point, which for me was a year too long, I had to say enough is enough. Thankfully another job opportunity with a respectable firm, not in the real estate industry came along....and I took it.

It was 2 years after I quit that I was approached by legal counsel, as well as others to be included. Making the cut or not, we all worked many, many, many long hours which took away from our children and families. All the money in the world couldn't pay me back for the time I lost. Nor could that money make me feel any less guilty for some of the awful loans I created for people who didn't deserve it. To those people I am sorry abnd thankful that I am no longer in the business.

Enough said.

I want to emphasize that my comments, while having a personal genesis, are offered with as critical and open-minded an attitude as possible.

I signed with Ameriquest back in 1995, when they were still "Long Beach". At that time, the term "predatory lending" was almost unknown, and there wasn't enough of an internet to make a comprehensive search possible, to the extent it is today. Despite being a very competent paralegal, with a good background in consumer law and issues, I still got taken in. I fought in the courts for almost six years, but in the end, their money and lawyers simply overwhelmed me.

I got so angry about the whole lack of protection for consumers in the home mortgage market, that I founded a consumer advocacy group; A.P.P.L.E. (Americans Protecting Predatory Lending Enterprises). I had originally attempted to get ACORN interested in organizing a campaign, but they had more interest in pursuing the payday loan end of the market, than the residential loan scams.

In the past three years, I have spent a great deal of my time and resources compiling information about numerous predatory lenders and activities. Without exception, AMERIQUEST IS THE WORST OFFENDER!

Granted, they are now big enough to sponsor professional sports teams and stadiums, but they got that big on the backs of working men and women, retirees, minorities and the elderly and disabled.

Of course, now that they are a giant firm, they can afford to have division which operate with scrupulous care and attention to detail and law. Any losses from one honest operation can easily be covered by the profits from the half-dozen or so "boiler rooms" that it fronts for.

Don't forget, amidst all the horror of the n**i regime, even they had a couple of concentration and prisoner of war camps complete with manicured lawns, tended gardens and musical symphonies, just to show to the suckers from the Red Cross.

In my opinion, any credibility which Ameriquest claims to have at this point, has been purchased with the blood and sweat of thousands of Americans who have been wrongfully dispossed of their homesteads and lands. Just because their name might appear on the back wall of a ballpark, doesn't mean it also doesn't belong on a wanted poster at the post office.
/\/\ \/\/
Mick Wagner, Executive Director
Americans Protesting Predatory Lending Enterprises

As someone not affiliated with these scammers, but in the industry...I see these people lie on a daily basis about damned near everything.

I am not saying where or who I work for, but my wife worked for these people and I had her quit because they kept asking her to forge and do illegal things. SHE would have been responsible for anything going wrong on a personal and criminal basis if someone really got down to suing the company.

They readily will change pay stubs, forge signatures (and are even unofficially instructed how to make them look good) lie about rates, bait and switch, and just plain commit about every wrong thing they can do in the process of getting someone to commit to a loan.

I personally fought these SOB's when trying to refinance someone away from them with a rather large loan- only to find out someone there walked away with 120K of my client's money when they failed to satisfy a past mortgage - and then re-financed internally 3 more times after that...never once paying off that past mortgage or ever showing any evidence it was...even after an attorney threat. Went back to the original lender who they got it from and those records were mysteriously "Lost". So don't you tell me they don't screw people repeatedly...they do. I work for one of the good guys and these dolts make it tough on me by muddying up every person's opionion of the whole industry.

Their tactics. Say one thing and do another....always. Never do the right thing...and if they do it's accidental...or they got a client who got an attorney involved BEFORE they got ripped off. My wife went to their "BIG SPIN" and watched all these people win cars for their efforts of getting loans at any costs.

The cost is YOUR MONEY and YOUR WELL BEING. I don't care if you went with any other lender...just not these scumbags.

Best of luck anyone who does...you will write here in the future...and I'd put money on that.

The check employees received were for people who worked during a specific time period when Ameriquest was not paying overtime to employees. This was actually a very confusing issue to many sales organizations when it comes to non-managerial sales positions. You were paid enough to beat minimum wage and all other federal requirements, but some ex-employees who did not cut it decided to sue. Ameriquest weighed the cost of settling versus continued litigation. A settlement was made. Your extra time and a half will not hurt them. New overtime rules passed by the labor dept actually do not require overtime be paid. Look up class action overtime cases and see how many companies have had this similar issue.

That blimp you are referring to? I am sure all of you Ameriquest employees fill it with hot air. You don't need helium.
Is that supposed to impress us? NO it does not. A truck. So you can run over more people. Perhaps that is true also as it has happened.
I think you are just glad you have a job. Just you wait. Just you wait. You will find out.
I have heard from so many appraisers who won't work for this dishonest company.
They make them say and do as they want or they step in and make sure they lose their licenses. Legitimate appraisers won't do that. They worked hard to get their business built up as honest and this company Ameriquest, will step on you like a bug.

That blimp you are referring to? I am sure all of you Ameriquest employees fill it with hot air. You don't need helium.
Is that supposed to impress us? NO it does not. A truck. So you can run over more people. Perhaps that is true also as it has happened.
I think you are just glad you have a job. Just you wait. Just you wait. You will find out.
I have heard from so many appraisers who won't work for this dishonest company.
They make them say and do as they want or they step in and make sure they lose their licenses. Legitimate appraisers won't do that. They worked hard to get their business built up as honest and this company Ameriquest, will step on you like a bug.

I noticed a lot of you are getting settlement checks from lawsuits against Ameriquest. I tried in Oklahoma and NO lawyer would help. They said I was not telling the truth and this is not a fraud. WRONG!
I am also going to the NACA for assistance in the attack process.

I want to know how you've been with the company for only a few months, yet you have a scrapbook of Thank you notes? Also, let me shine a little light...."Do the Right Thing".....New??? Give me a break!! I started with this company in 1998 and the motto was the same then and the same training seminars were offered and they still produce unbelievable mortgages. Thankfully, I only let myself be abused by this company for a year and thankfully I didn't hurt any other people in the community by selling them a God awful loan. And no, I didn't leave Ameriquest due to not making my quotas for the month because back then it was only 3-4 and not 8-12 like it is today. Not hard to do. So go ahead and keep believing that you're "Doing the Right Thing", it shouldn't take you that long to figure it out.

Do you really believe all these people are pulling their experiences from their rear ends?

And by the way, most of us Ex-employees just got settlement checks ourselves from a class action lawsuit we filed against them. What do you think about that??!!

We all know it is not a crime to work for someone, but the mortgage industry lends itself to unethical practices so easily because it is so easily misunderstood and complicated.

And we all know that ethics are bendable. Charging 1% and recieving a rebate from the lender is one thing. Charging 5% when refinancing an in house loan with a prepayment penalty in order to place someone in another loan with a prepayment penalty is not illegal; and depending on what company you are with its not even unethical; its just due course for the greed machine.

Your best bet will always be to go to a small responsible broker who has built their business on referrals from other clients. Definetely not through a website or because someone called you on the telephone.

I have been with Ameriquest for a few months now. They now have an ORGANIZED training program that is VERY insightful, orderly, and EFFECTIVE. I have been in sales for quite a while, I've been a sales associate, sales manager, even sales trainer and i was still IMPRESSED. On a DAILY basis, I run into people over the phone that I can save money, shorten their term, and even save them from filing bankruptcy or entering foreclosure. If I can get paid tons of money to help people, I see nothing wrong with that.

Ameriquest has also adopted a new policy, its called "DO THE RIGHT THING". My manager has been with the company for 3 years, if he see ONE SINGLE UNETHICAL LOAN (no benefit for the customer or terms/conditions violation of our guidelines), that person is FIRED on spot. I've seen him fire 2 top producers for 1 loan!

They paid for me and 90 other people to stay at the Marriott hotel for 7 days and attend an effective training course, provided study materials and books, and even offered 1 on 1s and breakout groups.

Just because you were wronged by ONE individual or maybe a bad branch doesnt give the whole company a bad name. Its not your mom and pop loan store guys, this is a MLBaseball sponsor, NFL sponsor, the only company that advertises in spanish, we have a blimp for crying out loud! And a MONSTER TRUCK! A multi-billion dollar fraud company?

If I had the time, I'd fax our scrapbook full of HUNDREDS of thank you letters. I've had customers cry because of how we have changed their life and financial situation, I love my job and the people that i work with, its a 110% legit operation.

The positive comments on this posting ar obviously insider comments. I had a friend of mine show me he closing documents from Ameriquest because I am a broker and he wanted to refinance.
Certainly, all the of the disclosure were made up front, but my friend is a forgeigner, and doesnt completely understand everything he is told.

The short of it was that Ameriquest charged my friend 11,300 in "discount" to buy the rate down ONE POINT. Which of course was financed into the loan itself, with a three year prepay, on top of the prepayment penalty he was paying to refinance his first loan with Ameriquest. His 167,000 loan became $235,000 in order to reduce his interest rate to a reasonable market rate after all the fees.

Basically, I would advise anyone to avoid this company it looks like.

I don't have a loan with this CR--ZY company any longer, thank God. But, it took 2.5 years of fighting and ACORN helped some, but when ACORN thought it was settled it got mighty UGLY. The rules kept changing as we went along. ACORN had it settled that I could either sell the house or get it refinanced. Ameriquest's idiots thought differently. They made up the rules who could buy it and I BETTER do something and be rid of my own home in 2 months or less. HA> HA>

Then, they continually send me letters like NOTHING ever happened. Letters on insurance and letters on the ARM schedule, letters on every subject you can imagine. I got another one today. WOWEEEE. Who cares? Hey they marked an interest rate now of 11.50 with the principal and interest payment of $713.01. Same as before, except the interest bobs up and down at every letter I get, which is quite frequent.
I had talked with their dept of operations dept and stopped the first foreclosure.

Funny thing, when a NICE lady was resolving this, the legal dept, KELLIE, told the nice one to go on vacation, therefore they didn't care and Kellie cussed me out and bawled me out continually.

On their reinstatement program? HA that is a BIG joke. You can say one penny to much or to little and NO, we cannot help. I don't think they care what reason you have. My loan got flipped 5 times, that I am aware of.

At one point, last summer, they sent me a letter offering me $3500 for paying to many points, a stupid lawyer accepted it and they sent it to him in his name only or if it did have my name, it must have been forged on the signing of the check. Then..........they sent me a bill of over $13000 to be paid IMMEDIATELY.
CR--ZY company.

Like my title, the right hand doesn't know what the left hand is doing. They have an office here and there and neither one knows what the other is doing.
An x-employee told me and begs people NOT to sign with them.

When I ordered an appraisal back in February, I asked for an HONEST one and I had to approve it. It was great. The lady told me Ameriquest didn't want her because she was honest, I got her anyway.

They are unscrupulous and get appraisers fired and threaten their licenses if they don't do as they say. I never got a copy of the report, I'd imagine because there wasn't any. The idiot didn't do anything, only stepped ONE foot into the door and left.
WHAT a NIGHTMARE!!!!!!!!!!

I don't have a loan with this CR--ZY company any longer, thank God. But, it took 2.5 years of fighting and ACORN helped some, but when ACORN thought it was settled it got mighty UGLY. The rules kept changing as we went along. ACORN had it settled that I could either sell the house or get it refinanced. Ameriquest's idiots thought differently. They made up the rules who could buy it and I BETTER do something and be rid of my own home in 2 months or less. HA> HA>

Then, they continually send me letters like NOTHING ever happened. Letters on insurance and letters on the ARM schedule, letters on every subject you can imagine. I got another one today. WOWEEEE. Who cares? Hey they marked an interest rate now of 11.50 with the principal and interest payment of $713.01. Same as before, except the interest bobs up and down at every letter I get, which is quite frequent.
I had talked with their dept of operations dept and stopped the first foreclosure.

Funny thing, when a NICE lady was resolving this, the legal dept, KELLIE, told the nice one to go on vacation, therefore they didn't care and Kellie cussed me out and bawled me out continually.

On their reinstatement program? HA that is a BIG joke. You can say one penny to much or to little and NO, we cannot help. I don't think they care what reason you have. My loan got flipped 5 times, that I am aware of.

At one point, last summer, they sent me a letter offering me $3500 for paying to many points, a stupid lawyer accepted it and they sent it to him in his name only or if it did have my name, it must have been forged on the signing of the check. Then..........they sent me a bill of over $13000 to be paid IMMEDIATELY.
CR--ZY company.

Like my title, the right hand doesn't know what the left hand is doing. They have an office here and there and neither one knows what the other is doing.
An x-employee told me and begs people NOT to sign with them.

When I ordered an appraisal back in February, I asked for an HONEST one and I had to approve it. It was great. The lady told me Ameriquest didn't want her because she was honest, I got her anyway.

They are unscrupulous and get appraisers fired and threaten their licenses if they don't do as they say. I never got a copy of the report, I'd imagine because there wasn't any. The idiot didn't do anything, only stepped ONE foot into the door and left.
WHAT a NIGHTMARE!!!!!!!!!!

I don't have a loan with this CR--ZY company any longer, thank God. But, it took 2.5 years of fighting and ACORN helped some, but when ACORN thought it was settled it got mighty UGLY. The rules kept changing as we went along. ACORN had it settled that I could either sell the house or get it refinanced. Ameriquest's idiots thought differently. They made up the rules who could buy it and I BETTER do something and be rid of my own home in 2 months or less. HA> HA>

Then, they continually send me letters like NOTHING ever happened. Letters on insurance and letters on the ARM schedule, letters on every subject you can imagine. I got another one today. WOWEEEE. Who cares? Hey they marked an interest rate now of 11.50 with the principal and interest payment of $713.01. Same as before, except the interest bobs up and down at every letter I get, which is quite frequent.
I had talked with their dept of operations dept and stopped the first foreclosure.

Funny thing, when a NICE lady was resolving this, the legal dept, KELLIE, told the nice one to go on vacation, therefore they didn't care and Kellie cussed me out and bawled me out continually.

On their reinstatement program? HA that is a BIG joke. You can say one penny to much or to little and NO, we cannot help. I don't think they care what reason you have. My loan got flipped 5 times, that I am aware of.

At one point, last summer, they sent me a letter offering me $3500 for paying to many points, a stupid lawyer accepted it and they sent it to him in his name only or if it did have my name, it must have been forged on the signing of the check. Then..........they sent me a bill of over $13000 to be paid IMMEDIATELY.
CR--ZY company.

Like my title, the right hand doesn't know what the left hand is doing. They have an office here and there and neither one knows what the other is doing.
An x-employee told me and begs people NOT to sign with them.

When I ordered an appraisal back in February, I asked for an HONEST one and I had to approve it. It was great. The lady told me Ameriquest didn't want her because she was honest, I got her anyway.

They are unscrupulous and get appraisers fired and threaten their licenses if they don't do as they say. I never got a copy of the report, I'd imagine because there wasn't any. The idiot didn't do anything, only stepped ONE foot into the door and left.
WHAT a NIGHTMARE!!!!!!!!!!

I don't have a loan with this CR--ZY company any longer, thank God. But, it took 2.5 years of fighting and ACORN helped some, but when ACORN thought it was settled it got mighty UGLY. The rules kept changing as we went along. ACORN had it settled that I could either sell the house or get it refinanced. Ameriquest's idiots thought differently. They made up the rules who could buy it and I BETTER do something and be rid of my own home in 2 months or less. HA> HA>

Then, they continually send me letters like NOTHING ever happened. Letters on insurance and letters on the ARM schedule, letters on every subject you can imagine. I got another one today. WOWEEEE. Who cares? Hey they marked an interest rate now of 11.50 with the principal and interest payment of $713.01. Same as before, except the interest bobs up and down at every letter I get, which is quite frequent.
I had talked with their dept of operations dept and stopped the first foreclosure.

Funny thing, when a NICE lady was resolving this, the legal dept, KELLIE, told the nice one to go on vacation, therefore they didn't care and Kellie cussed me out and bawled me out continually.

On their reinstatement program? HA that is a BIG joke. You can say one penny to much or to little and NO, we cannot help. I don't think they care what reason you have. My loan got flipped 5 times, that I am aware of.

At one point, last summer, they sent me a letter offering me $3500 for paying to many points, a stupid lawyer accepted it and they sent it to him in his name only or if it did have my name, it must have been forged on the signing of the check. Then..........they sent me a bill of over $13000 to be paid IMMEDIATELY.
CR--ZY company.

Like my title, the right hand doesn't know what the left hand is doing. They have an office here and there and neither one knows what the other is doing.
An x-employee told me and begs people NOT to sign with them.

When I ordered an appraisal back in February, I asked for an HONEST one and I had to approve it. It was great. The lady told me Ameriquest didn't want her because she was honest, I got her anyway.

They are unscrupulous and get appraisers fired and threaten their licenses if they don't do as they say. I never got a copy of the report, I'd imagine because there wasn't any. The idiot didn't do anything, only stepped ONE foot into the door and left.
WHAT a NIGHTMARE!!!!!!!!!!

I have read the multiple posts and threads to this website and have this to say:

I am a loan officer, a licensed mortgage broker, and last but not least, I am literate. Although I have never worked for Ameriquest Mortgage I DO have a close friend that has had some very interesting dealings with them in the course of business.

Given the knowledge I have as a professional, and from the individual who will remain unnamed, my gut feeling is "I smell rat." Now, all sorts of arguments are made here about so-called disgruntled ex-employees, illiterate borrowers, and hidden agendas. But the bottom line is, there is trouble in Ameriquest land. Weeks ago there WAS a shakedown where many individual's were fired right on the spot when auditors paid a surprise visit. For those of you that have had a positive experience with Ameriquest doesn't surprise me, nor does it mean that there aren't others receiving less than ideal treatment. This is called predatory lending folks, and it's illegal whether it's one customer, or every customer. The stories I know of are too long to list, and many have been mentioned already. The mortgage busines unfortunately sees alot of this, but so does every other business for the most part. To say as one individual did above that "all lenders are like this" is preposterous. We are no different then ANY other industry. There will always be a few bad apples. For us good guys, that just means will be getting all the referrals when people get what they bargained for.

Now for a little advice to all those jittery potential home owners or refinancers scared senseless about finding a scrupulous Lender or Broker to do business with. I offer here a few tips to ensure that you are indeed getting the best of what's available given your qualifications.

1) Ask around-ask friends, accountants, realtors attorneys familiar with the area who might be worth speaking to. Remember, referral fees and kickbacks are not legal in many cases. So hopefully, you will be getting an honest answer, and not someone looking for a spiff

2) Get a free copy of your credit report before you shop-This one is so important folks. Many internet sources now offer credit reports free, or for a nominal charge. Get your scores, and use it to clear up any issues that you can, and use it for my next point.....
3) Get a GOOD FAITH ESTIMATE-Call up a few of these lenders you were referred to and have them take an application(make sure it's free of course) or just tell them you want to get "pre-qualified" for a loan. Then get a "GOOD FAITH ESTIMATE" in your hands and shop it around. Make sure the information you give is accurate. By providing all of this to your broker/lender, this virtually insures that you can't get the "bait and switch" to a different program when you are down the road of no return. If your terms are switched at any point after you have made application, then the lender/broker must issue you an "adverse action letter" which you must sign and return before proceeding. Also, if your fees are increased by more than a hundred bucks here or there, they must be re-disclosed in a new Good Faith. You absolutely must keep a copy of all these documents for your records. Your lenders know by this point that you aren't kidding around, and believe me, they will respect that.

There are plenty of "good guys" out there. Just ask around, many of us live on reputation alone. The same cannot be said for people who make a living on the phone.

I closed on August 24th with Ameriquest Office in Natick MA. My closing costs were about twice what were in the truth in lending (No surprise to anyone here). When I stood up to leave, my paperwork was miraculously reprinted to "adjust" some figures and almost $5000 disappeared from the closing costs. When I questioned the amount on the HUD to pay off my old mortgage (right amount owed, no prepayment penalty included), I was told that as per an agreement with my wife, Ameriquest was making so much on the loan that the prepayment would be absorbed by Ameriquest. Like a d**n fool, I asked to see the branch manager to confirm this, which he did. I confirmed this with the lawyer (looked like an ex-stripper) and went forward with the close. Imagine my non-shock and anger when I received a check for about $9,000 less than expected. I have spoken to Ameriquest every day since then, and the only proud person would be Gregory Hines for the amazing tap dance they do. I would never recommend them to anyone. I will be filing a complaint with the state department of banking tomorrow AM on these ripoff artists.

(For those who'd like to read my full Ameriquest story, please see report titled "Ameriquest AND Ocwen Saved from this HELL by RipOff Report Daytona Beach Florida")

Although I rescinded my mortgage with Ameriquest within three hours of signing, and although I repeatedly told them NO as they called over the next three days, each time making the terms more "attractive," they are STILL (over four months later) calling, attempting to change my mind. I have, thus far, call-blocked SIX phone numbers from the Daytona Beach office. You'd think they'd get a clue. I sincerely hope they do, because the call-block list accomodates only six numbers!

As to those who've had apparently positive experiences with Ameriquest, I truly am happy for you--and I DO believe that your experiences were positive, as EVERY company, even Ameriquest, is likely to have some honest, hard-working employees. Unfortunately, my own experience has been negative; fortunately, I am not locked in to spending the next 15 years dealing with them!!!

The actual history regarding the Ameriquest/Long Beach name switch is even more complicated than that. In 1995, the US Dept of Justice began a fraud examination into the lending practices of what was then called "Long Beach Mortgage". The allegations were that Long Beach had engaged in predatory lending practices against elderly and minority customers in California.

In 1996, without admitting liability, Long Beach entered into a stipulated injunction which, among other requirements, mandated that all then and future employees of L.B. would receive training and education regarding federal and state laws, that a fund of several million dollars would be set up to fund public education seminars regarding predatory lending practices, and that L.B. would cease and desist all such practices against minorities and the elderly, within the state of California. NOte: not that they would stop; just that they wouldn't do it to the elderly and minorities living in California.

Well. Isn't that a loophole you couold drive an aircraft carrier through? At that point, the L.B. boys got creative. They had set up, several years previously, a small subsidiary corporation called "Ameriquest Mortgage Co." Now, they simply switched the names of the two corporations (this is all public record), and then sold the newly-christened "Long Beach" corp. off to Washington Mutual.

The shiny new "Ameriquest" Mortgage, then proceeded to engage in a rapid expansion of its predatory practices, without regard to age or race, by obtaining funding from a number of "legitimate" banks, including Washington Mutual, and Eastern Savings Bank (a privately-owned, Maryland Bank). Although the funds were at relatively high rates of interest, Ameriquest was still able to prosper by utilizing its predatory practices to force forclosures of properties in which the owner had substantial equity, often by hiding behind the "clean hands" defense.

That is, by assigning the mortgages to third parties for "servicing", or by selling them back to the banks that had provided the intitial funding, the party forcing the foreclosure was not Ameriquest, and so was able to respond to any charges that the original mortgage had been defective or illegally presented, by simply claiming that they had obtained the contract in good faith, and that any disputes needed to be settled between the foreclosed homeowner and the original mortgage lender, and that in any case, they should still be allowed to proceed with the foreclosures, since the property owner could still be compensated with monetary damages, if the charges against the original mortgage lender could be proven in court.

As if monetary damages alone could compensate for being dispossed of one's homestead property. Since most persons who have their homes forclosed upon, also lose most of their other resources attempting to stave off being dispossessed, the costs of mounting a successful lawsuit against Ameriquest simply outweigh any potential gains to be made. This, of course, was the plan all along.

Oh, and the original "Ameriquest", now "Long Beach"? Well, since it had never agreed not to undertake predatory lending against the elderly and minorities, it was able to fill the niche left by its former owner's agreement, and still use the same advertising. It also served as a convenient front for "Ameriquest" loans, which Washington Mutual wanted to be able to service, without tarnishing its own "good name".

Interestingly enough, if you were to telephone Long Beach Mortgage, followed immediately thereafter by calling Ameriquest, you might be surprised to hear the same voice answer both calls. This is because now, more than 8 years after they supposedly became separate, Long Beach and Ameriquest continue to operate out of the same office building in Orange, California, and share the same switchboard. Coinkidink? Yah, Right!

I sell homes and my father has been a broker for over 30 years. I know loans and I know Lenders. I know for a fact that most people in the mortgage Industry are idiots. Not all but most. The reason is that the rules on lending money changes from day to day via HUD and the Lenders themselves. I guess most just go numb to feelings for customers.

I can list over 12 National lenders that I have had nightmare problems with. Yes, even Long Beach/Ameriquest. But guys, they are all the same. If you want to negotiate with sub prime credit, you need a really good broker and those are hard to find. Most of them don't even know how to process a loan and you will never get it. But you'll get a lot of promises. Anyway, anytime you go directly to any lender with sub prime credit you are going to pay.

You lost that priviledge when you had either bad luck or just didn't pay your bills on time. That is life get over it. AmeriQuest does nothing different than anyone else who deals with bad credit. They run a business and want to loan as many loans as they can and make as much money as they can. I have seen these exact same sales tactics when I borrowed money from Wells Fargo when me credit had a bump in it, and yes they it took two weeks in stead of two days like they said and it was right when I needed the money most. I bowed up, and walked out. It was not the loan I wanted. One hour later I was back in signing the loan documents I had asked for and was told I could get.

Look at it this way. If you owned a car lot and a guy came in a didn't try to get a lower price you would take full price wouldn't you? You wouldn't just give him the deal of the week. But the next guy may dicker a bit and get a lower price. Same car. What the heck is the difference. You wouldn't be "preying" on the guy that wants to pay full price. As for the "forgery", it is a federal offense to sign peoples names, period.

I doubt they would be open if all their offices had this massive conspiracy to train all employees not to try to learn their jobs and to forge documents. Jeez guys come on. There are bad apples everywhere. It is also very common practice to sign names to non binding papers to save time in the Industry. I'm not saying it is right but everyone does it. If they don't they aren't making any money. There are to many ridiculous papers need by the federal government that get added all the time at the last minute.

For instance. Is it that bad for a broker to sign a piece of paper saying that you know you don't live within 5 miles of an airstrip and that you don't plan to dump waste on your property. Should that one paper hold up a loan a week. Because I'm telling you it will. I get delays after delays on closing sometimes because one piece of paper is wrong and has to be redone and re signed off on and it has to come from FHA.... you just wasted 10 days. Nothing happens fast in the mortgage Industry.

Anyway, I don't work for AMeriquest or any other lender. I sell homes and lots of them. I help lenders stay on top of our customers so the loans can get done before I die. ALL LENDERS ARE THE SAME, ESPECIALLY SUB PIRME (BAD CREDIT) lenders!! GET OVER IT. All you guys complaining obviously don't know how the real world works are poor and have bad credit yourselves and are tired of being "taken advantage of". Straighten your credit up people. Ihen we wouldn't need idiot sub prime lenders just idiot regular conforming lenders.

That could be why they do business now as: Ameriquest.

When they were still Long Beach of California, their negative publicity was so bad they changed their name to "ta da" Ameriquest.

The newspapers and television reporters in California documented them 'ripping off' the elderly, the divorced, the newly immigrated, minority women, widows and widowers, the disabled, the very young, and any one who appeared unlikely to fight back.

So when they were revealed for doing legal but dirty things to their customers, they re-invented themselves as Ameriquest.

Depending on which number you call it appears as Long Beach or Ameriquest on caller i.d. They did not change their spots or business practices, just their business name.

"starry-eyed no more"

I noticed Laura stating above that she wishes that Ameriquest didn't hold a lien on her title and needs help. I would like to offer anyone on this forum help getting away from Ameriquest.

I can offer a fair, honest look at your situation and will give the best net program to help out.

Email me at: [DELETED] [Place your comments below and be sure to include your FULL contact information so Rip-off Report can contact you.]

I am not posting this as an advertisment for my services, rather, I am offering to help people get out of the situtaion that they may be in with Ameriquest. I can write loans in any state except New York.

Good Luck!

As far as what Ameriquest does and does not do, the only training they do is how to make as much money on each loan as legally possible, whether it benifits the borrower or not. As far as fees and Interest rates go you get a high rate or high fees not both. They used to do both high unless the customer was savey.

Consumers should always shop around, find a broker that can do all types of loans not just loans for people with good credit. If you have good credit go to a bank or a broker not Ameriquest.

I have been reading through these posts and I can assure you that anyone who is praising Ameriquest in this thread is an employee who is either high ranking in the companyor is being instructed to do so.

I was employeed by Ameriquest Mortgage within the past two years and I can validate many of the claims listed above. Not only ar ethe employees not trained, but they are encouraged to not pursue training on their own. In my case, I took it upon myself to further my knowledge on my own time. I started asking questions to my manager about yield spread and what our par rates were. I was told that if I wanted to keep asking those questions I would be shown the door. It was not my job to understand loans, just to sell them and close them.

Our daily meetings with our manager was quite simple. He would outline how we were to beat people up over their credit and debt in order to sell them on our products. In many cases we were forced to tell people with credit scores near 700 that they had bad credit and had no choice but to refinance or they were going to be at risk of losing their house.

We were taught to take advantage of people's "stupidity" and get them to sign documents

The telling fact about Ameriquest:

The standard time for rescinding on your refinance loan is three days. This is a mandatory time period that is required by the federal government to prevent people from being taken advantage of at the closing table.

Ameriquest has their own federally mandated rule: They must allow a customer seven days to rescind rather than the standar three.

To make a long story short, I have been working as an independant broker now for a while and have seen even more how they take advantage of people. I can beat an Ameriquest deal hands down for half the cost without breaking a sweat. In fact, I absolutely love talking to people who have been working with Ameriquest because it is the easiest loan to sell.

As far as employees go, they are treated like dirt. When I walked in the door I was told that I would work from 10am-7pm. When I left I was working 9am-8pm and being told that I didn't have what it took to be successful because i wasn't working until 9 or 10pm. Our lunch hours were timed to the minute. I was chastised for trying to learn my job on my own. The atmoshpere there is similiar to the movie [i]Boiler Room[/i].

The ideal Ameriquest employee is someone who will do what they are told without asking questions. They want people who are uneducated and inexperienced in the mortgage lending field so they can mold them to fit into their scheme.

The bottom line is this: Ameriquest gets away with these questionable business policies because people don't know any better, and/or they are desparate for a cash-out refinance. They treat their employees terribly and hide behind a vale of excuses and lies.

somehow i cut my response off. Hopefully it made it onto the site so this continuation makes sense.

I just wanted to finish discussing the environment of Ameriquest offices, and how that leads people down the path of questionable ehtics decisions when it comes to impacting their applicant's financial lives.

Basically, the whole environment is pressure driven. I remember daily meetings where veiled threats of mass firings were commonplace. Bottom line, Ameriquest really isn't concerned with compassion for employees or customers. Only profits.

The thing is, I don't think Ameriquest is much different than any lender. Like any business, volume is an important key to profits. I would simply advise anybody considering refinancing (through Ameriquest or otherwise) to get advice from an impartial expert before signing any documents. An easy 15 minute phone call to a financial advisor could save you thousands of dollars and a lot of heart ache.

Hope this input helps.

I worked at Ameriquest and now am an employee of a more versitile mortgage lender. The sales skills I learned there are great. Very much like boiler room because the products are much less competitive than what you could get from another lender. An employee must be aggressive to sell these products to survive.

I love that Ameriquest is around now because I can ALWAYS find the prospective borrower a better deal. If you are a satisfied Ameriquest customer, that is great. You are just proving that you had no idea what type of mortgages were really available for you and you took a crappy product. Now you will be in an adjustable loan and unable to get out of the loan due to the pre-payment penalty. Smart move.

Almost went bankrupt or close to foreclosure but Ameriquest saved you? Wait till that 3rd year of the 2/28 and then say cya later!!! Its really not that Ameriquest is fraudulent, they just feed and thrive on the ignorant people in this society. Before you sign, do some research.

In 2003 I bought a $250,000 home - cash purchase. After I bought my home, funiture, etc, I was running out of money and my part-time job was not cutting it. (I am a full time student, part-time coffee-shop gal).

My father died, and my mom got behind on her bills... since I HAD no mortgage or bills, I started helping my mom... I started to run dry...pretty soon my $13,000 tuition was due...

I was looking for a personal loan but could not obtain one due to my lack of credit. Some how Ameriquest called me, with a deal for a 1st mortgage of 7.599%... It sounded good, 100,000 for payments of $734 a month for 30 years... with the bi-weekly payment I was told that would shave 8-9 years off the loan. Great!

I remember walking in, it's funny, another comment said it reminded her of the Boiler Room... that is exactly what I thought when I saw all the young males answering the phones.

I have yet to receive my cash funds yet, within the next week... but I starting to regret that this company is now holding the title to my house... Please email me for more help!

In 2003 I bought a $250,000 home - cash purchase. After I bought my home, funiture, etc, I was running out of money and my part-time job was not cutting it. (I am a full time student, part-time coffee-shop gal).

My father died, and my mom got behind on her bills... since I HAD no mortgage or bills, I started helping my mom... I started to run dry...pretty soon my $13,000 tuition was due...

I was looking for a personal loan but could not obtain one due to my lack of credit. Some how Ameriquest called me, with a deal for a 1st mortgage of 7.599%... It sounded good, 100,000 for payments of $734 a month for 30 years... with the bi-weekly payment I was told that would shave 8-9 years off the loan. Great!

I remember walking in, it's funny, another comment said it reminded her of the Boiler Room... that is exactly what I thought when I saw all the young males answering the phones.

I have yet to receive my cash funds yet, within the next week... but I starting to regret that this company is now holding the title to my house... Please email me for more help!

Margie,
The documents were not blank when we signed them, the copies we have do not have our signatures on them.

This will be my last correspondence on the matter of Ameriquest. But I just have to ask Tracy -- you signed BLANK DOCUMENTS??? Just for future reference, whether you have ever done any kind of financing or refinancing on anything whatsoever or not, NEVER, EVER sign a blank document!!!

What I am telling you is that the copies I have versus what Ameriquest have ARE different. At the closing we were told the blank copies we were being given were the same as what we are signing and that we would receive the signed copies in the mail, which we did not. We have 2 different Hud Settlements, our employment verifications were not done and at the time, we were happy our house appraised out at what it did.

We refinanced to pay off some bills because we were starting a family and did not want to start off with a lot of debt. We DO have good credit. I check it about every 6 months and for as young as we are, having a score in the upper 600's is very good, especially with not one single negative mark. Our original loan was an FHA loan and we did not pay points on it, yet this loan we paid 4 points for the same interest rate we already had. Don't tell me I made a mistake by using Ameriquest, I already know.

And like I said before, this was our first house, we didn't know the first thing about refinancing and we have learned the hard way. I did not come on here to "blame" Ameriquest for giving me a bad mortgage because I didn't know it was bad at the time. I am complaining about them because what they have done with my loan is illegal, just ask my attorney.

So what do the SIGNED documents say? Or are you claiming they put your signature on a different piece of paper? EVERY page is initialed in mortgage loan and signatures are required on the TIL, the note, the mortgage and riders (ARMS or Fixed) and HUD. I am guessing you didn't read what you signed.

Ameriquest policy is clearly against bait and switch tactics, but there are shady characters in all businesses. My question would be why would you get a new mortgage after only one year in your home? If Ameriquest was lowering your rate then you were not in a conforming loan. Or was it because you wanted extra cash? Or when they asked you for a value of your house you said I bought it a year ago for 100k and now think its worth 120k.

Every person thinks they got the greatest deal on a home and the value jumped 15-20 per cent ina year. It doesnt happen. You had an appraisal doen when you bought the house, did you think about it for one second and say, that seems like a large appreciation for 1 year.

Finally, just because you pay your mortgage or every bill on time does not mean you have good credit. The type of credit and the used to available credit along with time are all factors in determining your credit score. Do you know what your score is? Did you call other mortgage companies BEFORE you signed? Seems to me you failed to perform due diligence in your largest financial instrument.

I also would point out that you have no way of knowing that your rate will increase in December as of yet, if you are in an ARM. The rates are tied to the LIBOR index, plus a margin, which is spelled out in your docs. If those add up to more then your current rate, that will be the new rate, but if they are equal or lower your rate will stay the same.

This is the reason I do not sell mortgages anymore. People want to blame everybody but themselves for their situation, without even understanding it. In doing well over 100 loans in my time at Ameriquest I had 1 unhappy customer, and that was somebody who asked me to "see what I could do" about an appraisal that came back too low in their opinion. Its a damned if you do, damned if you dont situation.

John,
Regarding your post. Before I refinanced with Ameriquest, I was not aware that they offer the loans to people with "less than perfect credit." We had just purchased our house 1 year prior to refinancing and did not have bad credit and still do not. I have never once been late with a payment, I always pay before it is due.

The only reason we refinanced with Ameriquest is because this was our first house and to be honest, we didn't know any better. Regarding our loan documents, I DO NOT have signed copies (I was told they would be mailed, they never were), I have blank copies. Also, the signed copies that I finally got Ameriquest to send me, WERE different than the copies I had.

So it's not like I'm overexagerting (SP?) here. I admit, it was our fault to begin with because we did not know what we were doing, but that doesn't give Ameriquest, nor any other company a right to take advantage of us. In our blank copies, we DO NOT have the prepayment penalty notice and the interest rate in our truth in lending docs are different than what we have.

I have gone to the Attorney General, the Better Business bureau and any other government agency who will listen to me. I have written Ameriquest on several different occasions to no avail. Unfortunately, we can't refinance until October of 2005 (after our interest rate will go up 2 points on December of this year) because of our prepayment penalty and the fact that our house was overappraised.

If I was complaining just to complain, I would not have so many posts on here about Ameriquest. A lot of us have real problems with this company and telling people about them is sometimes the only way we can express our anger, we don't need people to come on here and say OH WELL.

The reason people are on here is simple. Do a google search about Ameriquest and this happens to be one of many sites about it. How did Ameriquest "force" any of you to sign these loan papers with so-called "excessive fees" or "uncompetitive" rates. If you could have qualified at a conforming rate you would have.

Ameriquest provides a service to those who have equity and might have some credit issues. I no longer work there because I couldn't stand dealing with the type of customers Ameriquest tends to attract. They tend to slow pay all their bills, other then their vehicle, and have an excuse why they still deserve the best rate under the sun. I can say that a company that does over $1 billion in loans per month is going to have some dissatisfied customers.

Especially with the type of clientele. My response to Tracy would be simple. Do you have signed copies of your mortgage documents? Do they say something different then what is actually happening? If you do, then go to your states attorneys generals office and demand fraud charges be filed against the person who forged your docs. If not, you were the one who signed the loan. If AMeriquest is so bad, refi elsewhere.

Marsha,

I have no doubt that some of these complaints are legitimate; however, considering the thousands of loans Ameriquest makes in a month, the number of complaints represented on this site are very few. OF COURSE YOU DO NOT HEAR THE ACCOLADES!!! People generally do not report "good" experiences, only "bad". We live in a society where "negative" news seems to always be of more interest than "positive" news. I would be interested in finding out how many satisfied customers there are for this company? Do you know of a site where this can be checked out? The other interesting point is that I decided to check out several other MAJOR BANKS and LENDERS (nationwide) on this site and found that they have just as many negative complaints as Ameriquest, MOST PERTAINING TO MORTGAGES MADE. So, WHERE DO WE GO to get a "good" deal?

Also, I do not work for Ameriquest and, as I stated in my "accolade", I work in the legal profession, not the mortgage profession (although I did for a good many years). If everyone wants to continue their negative reports, I certainly have no objection or control over that--to each his own. I respect your right and freedom to state your experience. I just feel I should have the same right to say that at least one person has had a "positive" experience. Maybe I'm that "one in a million". That would be a first for me. I will consider myself blessed.

As to why I was checking on this site, I simply searched the company name on the internet, AS I DO WITH ALL COMPANIES BEFORE I DO ANY BUSINESS WITH THEM OF A SIGNIFICANT FINANCIAL NATURE. Then I further check out the reports I find through other sources to see how genuine they are. Also, could someone tell me where (court and jurisdiction) all the class action suits are filed. I'm sure I could get access to the information through sources at work, but if you can tell me, it would save a lot of time. I would really like to read one. I am assuming they are concerning the California office of Ameriquest (the only one showing on the BBB as having an unsatisfactory record). It seems to be the one with the significant complaints on file.

I am a current employee of Ameriquest Mortgage, and I have been a manager also, I would just like to say thanks to the guy that couldn't go anywhere else to get a loan besides us.
These people are right we do not have any training, I was a stripper before I worked here, the only difference is I had to take my clothes off to sucker people out of their money, here I can do it while keeping my clothes on and make more money at it. But dont get mad at us we don't own the company we just work for a living like everyone else.

In response to "Margie's" post....what are you doing on rip-off report looking up Ameriquest if you have had no problems with them? Because you are probably an employee. Not one person I know who has a loan with Ameriquest (And I know 8) have had a good experience with them, including me.
I have a loan with Ameriquest, I can spell perfectly fine; disproves your theory that all of us complaining are illiterate. And since there are so many of us complaining, and so many class action lawsuits starting up, how can we be lying...get real!

Margie in reponse to your letter, all these people cannot be lying. I hope you are not this naive to believe that everyone is wrong and you are right. What you must realize is that there are far more negative complaints than there are positive accolades.

Ameriquest preys on the illiterate and not well educated people. I find it offensive that you feel the need to berate these current and former customer at a time when they are experiencing distress.

I am a former employee who worked at Ameriquest for four years. I left Ameriquest after reading this the hundreds of negative reports on this website. My conscience could not allow me work for this company anymore.

Margie in reponse to your letter, all these people cannot be lying. I hope you are not this naive to believe that everyone is wrong and you are right. What you must realize is that there are far more negative complaints than there are positive accolades.

Ameriquest preys on the illiterate and not well educated people. I find it offensive that you feel the need to berate these current and former customer at a time when they are experiencing distress.

I am a former employee who worked at Ameriquest for four years. I left Ameriquest after reading this the hundreds of negative reports on this website. My conscience could not allow me work for this company anymore.

Margie in reponse to your letter, all these people cannot be lying. I hope you are not this naive to believe that everyone is wrong and you are right. What you must realize is that there are far more negative complaints than there are positive accolades.

Ameriquest preys on the illiterate and not well educated people. I find it offensive that you feel the need to berate these current and former customer at a time when they are experiencing distress.

I am a former employee who worked at Ameriquest for four years. I left Ameriquest after reading this the hundreds of negative reports on this website. My conscience could not allow me work for this company anymore.

In response to all the reports about Ameriquest and its practices, I have had a wonderful experience with Ameriquest. Yes, you heard me right, a "wonderful" experience. Everything was disclosed to me right up front, my documents said EXACTLY what I expected them to say,and nothing changed from what I was originally told. The final loan documents I signed were the same as the Truth-in-Lending Disclosure I got before the signing (several days before).

Every single amount was gone over with me, I knew my interest rate, I knew about the prepayment penalty and what that rate was. I simply cannot understand how so many people could not read nor understand their documents before they signed. As a matter of fact, things were so "up front" that when one of the signature was missing a middle initial, another trip had to be made to the office to re-sign the document. No one "forged" the initial. The document had to be re-signed.

I was one of those unfortunate souls that did not have really good credit. No other mortgage company would even consider talking to me about my situation. And then I got a call from Ameriquest. The loan officer stayed in almost constant contact with me and together we worked to straighten out everything we needed to "make the loan work". No, I did not get the best interest rate, but I got the mortgage and that was what I really needed. The payments were less than I was paying before. But EVERYTHING (yes, even the prepayment penalty) was pointed out to me several times by the closing person. There was nothing hidden.

After working in the legal field for over 20 years, I must say I am appalled at the absurdity of these negative comments that have been written. I thoroughly agree with the person that said that this company would have been put out of business years ago if the practices being reported here were done on a continuous basis. This mortgage company, and many other mortgage companies, are registered with the department of banking in their respective states and are regulated by guidelines put in place to avoid deceptive practices. I am fairly certain, (although not 100%)that there are auditors who systematically, and on a reoccuring basis, perform audits on the loans this company closes. I do note, however, that it appears most of the complaints and problems stem from one of the offices in California. In checking with the Better Business Bureau, I found that the only office showing an "unsatisfactory" rating was the office in one county in California (sorry, I don't remember which county). Perhaps that one office should be looked into, as that seems to be where most of the problems are generated.

I note with a bit of interest the fact that the parties who are making these claims and adverse reports cannot spell nor use the English language to say what they are trying to say. I find it difficult to believe that out of all of these people none of them can spell or type without many, many errors. Perhaps they are illiterate and, therefore, could not read nor understand their paperwork for their loans and that it how their supposed "rip-off" occurred. My recommendation would be that, in the future, they take the pre-package of documents they get (the copies they get before they sign) and spend a little time and effort to have it reviewed by someone who is knowledgable and can advise them (before they sign) if they suspect (or even if they don't suspect) there is a problem. I really am pleased with my loan because it has saved me in several ways and feel sorry for people who feel they just have to report something negative. I am sorry, but I do not believe most of these reports. At least at this point, I have nothing negative to say about Ameriquest (at least as of now) and only have accollades for my loan officer and the closing and handling of my loan.

P.S. I also do not believe the "ex-employees" bunch of dribble. Ameriquest would have been sued millions of times by now and it would have been posted all over the newpapers across the country. The EEOC would have had a blast! Poppycock and shame on you!

Ameriquest is a shady comapny. I have worked for two different Ameriquest offices and discovered that the company promotes a shady culture. The type of company culture comparable to the movie "Boiler Room". Each of the two offices I worked in actually makes their AE's watch the "Boiler Room", and asks them to have the same mentality as the characters in the movie. The company does not seek individuals with industry knowledge for employment, they seek for individuals who can convince consumers to sign Ameriquest loan documents no matter how bad the deal is for the consumer. Its just a numbers game.....

Since the Area Manager for Michigan decided to write in a response, I feel it is my civic duty to call you out MR. CROFT!!! Remember, what you said about this company being good and all that jive, well, I suppose if you are an AREA MANAGER making 1.4 million per year and driving around in an 80,000 RANGE ROVER. Everything is peachy keen.

I defy you any potential customer to check around and see what rates are at....Check out their wholesale side (call Argent Mortgage). This company is run by the same owner as Ameriquest, yet oddly, why are their rates so much lower? NEVER MIND THE FEEEEEEEEES.

Average Ameriquest fees upfront are a minimal 5,000. Seem high to you, it does to me, oh that doesn't include title and appraisal......SO TO YOU MR.CROFT I SAY......GOOD DAY!!!

Since the Area Manager for Michigan decided to write in a response, I feel it is my civic duty to call you out MR. CROFT!!! Remember, what you said about this company being good and all that jive, well, I suppose if you are an AREA MANAGER making 1.4 million per year and driving around in an 80,000 RANGE ROVER. Everything is peachy keen.

I defy you any potential customer to check around and see what rates are at....Check out their wholesale side (call Argent Mortgage). This company is run by the same owner as Ameriquest, yet oddly, why are their rates so much lower? NEVER MIND THE FEEEEEEEEES.

Average Ameriquest fees upfront are a minimal 5,000. Seem high to you, it does to me, oh that doesn't include title and appraisal......SO TO YOU MR.CROFT I SAY......GOOD DAY!!!

Since the Area Manager for Michigan decided to write in a response, I feel it is my civic duty to call you out MR. CROFT!!! Remember, what you said about this company being good and all that jive, well, I suppose if you are an AREA MANAGER making 1.4 million per year and driving around in an 80,000 RANGE ROVER. Everything is peachy keen.

I defy you any potential customer to check around and see what rates are at....Check out their wholesale side (call Argent Mortgage). This company is run by the same owner as Ameriquest, yet oddly, why are their rates so much lower? NEVER MIND THE FEEEEEEEEES.

Average Ameriquest fees upfront are a minimal 5,000. Seem high to you, it does to me, oh that doesn't include title and appraisal......SO TO YOU MR.CROFT I SAY......GOOD DAY!!!

Since the Area Manager for Michigan decided to write in a response, I feel it is my civic duty to call you out MR. CROFT!!! Remember, what you said about this company being good and all that jive, well, I suppose if you are an AREA MANAGER making 1.4 million per year and driving around in an 80,000 RANGE ROVER. Everything is peachy keen.

I defy you any potential customer to check around and see what rates are at....Check out their wholesale side (call Argent Mortgage). This company is run by the same owner as Ameriquest, yet oddly, why are their rates so much lower? NEVER MIND THE FEEEEEEEEES.

Average Ameriquest fees upfront are a minimal 5,000. Seem high to you, it does to me, oh that doesn't include title and appraisal......SO TO YOU MR.CROFT I SAY......GOOD DAY!!!

The people who are saying that Ameriquest is great must be current employees(probably managers). I've noticed that all of the ex-employees have had the same experience I did, and I was the top producer and made 6 figures while there. Those of us that are telling you the inside scoop on the company have nothing to gain. I myself quit Ameriquest and work for a broker now where I feel good about the people I help, most of whom are my past Ameriquest customers that I'm putting in a better position. Why would a company hire people with NO experience and then not train them?? So that they won't ask questions.

The forst thing I can say is "truth" is wrong and lying. Ameriquest will not approve a loan with 5.5 points on it, regardless of age. The age that no pre-payment kicks in is at 61, and there are several rates below 7.5%; and has been since at least January 2002.

Appraiser are ALL licensed by the stat of Michiogan, and in fact you bought the appriasal when you took out your loan, so go get a copy of it. Call the State of Michigan and check them out.

There are unscroupulous appraisers and loan officers for eery company, BUT who is responsible to read their documents within a seven day period (law is only three). It is the homeowner. In my 18 months working for the company I had ONE customer who was dissatisfied, and it was because I wouldn't "see what the appraiser could do" on value. She had deferred maintenance which requies item to be fixed before cash out is fully dispersed.

I do agree it is difficult work, and like most businesses, Ameriquest tries to drive for more business, hence loans. Many people are not cut out for the long hours, telemarketing, or sales in general.

Ameriquest Mortgage is not the mortgage company for the person with perfect credit, or for doing a purchase. They are not screaming about low rates. They give you an opportunity to payoff higher rates on cars, or second mortgages or credit card which have become over extended. If you utilize it as a fresh start the loans work well; if you look at it as free money, you will end up in the same boat you were in before.

If Ameriquest was so bad compared to other lenders, they wouldn't have survived this long.

These poor lending practices are not taught by the company. Of course, as with any lender, there are probably some poor employees here and there. It shouldn't reflect on the entire company.

I can say without a dought that the experiences had by both Tony here and John in another post above got the true Ameriquest Experience.

WHAT HAPPENED IN THAT OFFICE WHEN YOU WEREN'T THERE:

I figured I would let you both know how the whole scam works because you have obviously both been through it and taken a beeting. John, when you were quoted 7.5% rate, Im sure that the account exec never told you that there would be 5.5 points on it. What happened is, he/she went to process it and everyone (manager and processor) got wind of it and decided they wanted a share of it too (they get paid a heafty percentage of your closing costs which Im sure where astronomical), so to make themselves more money they adjusted everything higher. By the way did either of your AE's use the HUD arm when closing from what I'm told it's a nationwide thing. From what it sounds like, you both had experiences that another old employee would do to his clients, talk about a bait and switch, I saw him turn a 6.5% 15 year fixed into a 11.00% 2/28 arm with a three year pre-payment penalty. Im sorry to say that probably you were both also refered to as the guys we bent over and took for all they were worth.

THE 3 YEAR PREPAYMENT PENALTY:

OK this is the thing with the 3 year. ALL AMERIQUEST LOANS UNLESS YOUR OVER 63 HAVE A 3 YEAR PRE-PAYMENT PENALTY, REGARDLESS. Whomever your talking to may say that their is not, they are lying (period). Those penalties are so high that you could probably right off all of your taxes based upon them. Management is ALWAYS saying get the prepayment penalty, it makes us more money, or if you want to keep your job you better give them the three year prepay. When you go to close either the AE rushes you over that one page that has the three year prepay on it or they don't include it at all and just add your signature to it later. Happens all the time and I do mean all the time. Even Ameriequests written policy of not giving people over 63 prepay penalties goes unchallanged by corporate.

WHY EMPLOYEES LEAVE:

Most of the employees leave for one of a couple reasons, I should also mention that Ameriquest has the highest employee turnover in the industry anywhere from 60-80%.
1. AE's can't hack it for whatever reason
2. They begin to ask the inappropriate questions to their superiors aka: why do we have to charge this person $13,000 in fees to do paperwork.
3. They wise up and figure out they can put their skills to better use helping people get good mortgages somewhere else.
4. They can stand what they do to people anymore, because we would all like to go to heaven one day.
5. They literally burn out on the 70hr work weeks and have breakdowns (happens more than you would think).


WHAT YOU CAN DO:

1. GET A LAWYER, nothing scares an Ameriquest manager more than a lawyer breaking their balls. Remember most of them are between 25-35

2. Contact ACORN, if you do some research on the net you'll find that they love to go after Ameriquest

3. Contact the state board for liscensing appraisers, it's in the blue pages in the phone book and tell them what happened. Show them the copy of your appraisal if you have it, they'll love to see how that appraiser fudged the numbers and will revoke his liscense, but prolly that person doesn't have their liscence anymore anyway, forgot to mention that Ameriquest will and prefers to work with unlisced appraisers. If you don't have a copy of your appraisal, GET ONE, your entitled to it, for GODs sake you paid for it on the HUD form. If that branch won't release it or say that they own it. Go there with the police and demand it, it's your loan and you damm well paid for it and too much also.

Good luck to all of you

If anyone has anymore questions I will do my best to give some insight just post and I'll find you.

P.S. To all you that have wondered the Ameriquest/Town and Country Mortage/Ocwen connection I have a theory mind you it's only a theory. I do know that Ameriquest is the retail side and Town and country is the wholesale side of mortgage funding for the company, but from what I saw when I worked there I trully believe that the company is backed by Ocwen capital because every and I mean every loan I saw got sold to them I mean even the ones who had not yet made a payment something to think about

Truth

Hello,

I to have been victimized by Ameriquest Mortgage. I have retained an attorney to take care of the matters with regard to Fraud. I have been corresponding with anothere gentleman here in Pennsylvania via email and our resolve is very strong. I had requested an original copy of our loan application and I waited almost one year for it. When I finally received it, it contained false information and our signature. You see my wife and I filled out the application with a ball point pen and the one we received was typed. i can tell you unequivocally that we never signed that typed copy and where did our original go?

Our appraisal was inflated to fulfill the needs of Ameriquest and a company called Reck appraisels did it and I have found out like the ex employee said, Ameriquest basically gives all their business to RECK APPRAISELS. I have been in contacted with the internal controls manager at Ameriquest ( ANN BRENNAN ) and of corse she acts like she is very concerned and wants to help. Well after getting no where I decided to retain an attorney. We should start a chat room area so that we can communicate with one another. MSN has a chat area and so does Yahoo. my email is not2sure1@yahoo.com and I welcome your emails so that we can cooridinate our ideas. I'm sure my email wont show up here and that is unfortunate. Call Ameriquest ( 724 ) 774 - 4431 and don' t back down, Call that number and you will reach me.

GOD SPEED

Gee wiz Joel, I'm happy for you, trully. I'm just wondering if you are the only one or one of the very few who have had a good experience with Ameriquest. I have been reading these posts for some time now and felt that it's time I posted my opinion based on what I've read.

I don't believe at all its about people with poor credit expecting a four or five percent interest rate. I do however believe it is about people in a tough spot being targeted and taken advantage of, being deceived, and in the end being discarded like yesterday's trash. There are just far too many similar complaints from all over the US on this site for it to be a group of people trying to destroy Ameriquest's reputation (they seem to be doing a good enough job of that on their own).

Please just take a moment and go back and read all of these posts carefully. This is about families being lied to, being forced into a situation that in many cases is imposible to get out of. It's about mothers and fathers being emotionally broken from the constant stress and worry and not knowing if they will have a home for their children. It's about families being put out on the streets. It's about the elderly people who own their homes outright and are targeted and then tricked into taking out a mortgage on the one place they have called home for half their lives and then having it taken away in one fell swoop. The list goes on and on. It just breaks my heart to read these posts.

Like I said Joel, I'm happy for your situation...at least one out of the thousands and thousands of people under their thumb got a fair break. As for the rest, I pray for you all...hang tough and be strong.

If you were late on your current mortgage, you would then be referred to as someone who is "screwed and has to take our loan". In our branch you would be the guaranteed loan for the month, and the branch manager would then raise your rate over the floor and put the points and fees to the moon. But im glad you got that cash, so when you want to refinance your home at a lower rate with a real mortgage company, you'll no longer have any room to pay closing costs.

If Ameriquest refinanced your home with you being 60 days or more late on your mortgage, then you can bet that your loan officer forged your mortgage history. This is a common practice at this company. I cant agree more with the summary from the ex employee who tells about the forgeries and terrible training.

I don't know where these people get there info, whether it's on a drug binge or what, but one thing I know for sure is that Ameriquest single handedly saved my home from disclosure.

I was laid off from my job 4 years ago at a manufacturing plant in California. Our mortgage was then with Washington Mutual, and I was about sixty days late already with my monthly payment. I was job searching, but Washington Mutual didn't really care, they wanted their money. The tone their collection officer had with me was very brutal, I felt like he was going to send in Mafia hitmen if I didn't make the payment.

I then went searching into refinancing my home, I just had to do something to stall Washington Mutual before I had a foreclosure. I then called the Ameriquest Mortgage branch out in Santa Ana, and the loan officer there actually treated me like a real human being. I wasn't just a number and a commission check to him, unlike those bastards at DItech, Greenlight, B of A (The list goes on and on).

He told me that he couldn't do anything for me at first because I was still late sixty days on my mortgage. I started to lose hope. I eventually borrowed some money from my father in law to pay off my debt. Mind you, My credit, after shopping around town for refi, was run into the ground. The loan officers over at the other lenders wouldn't return my calls. Everyone except my loan officer (Who will remain nameless) from Ameriquest.

Although I couldn't get the rates I wanted ( Im telling everyone now. YOU WILL NOT QUALLIFY FOR A 4 OR 5 PERCENT RATE UNLESS YOU HAVE THE CREDIT OF A SAINT), he was able not only to refinance me, save me 400 dollars a month on my payments, and get me some cash out to pay back my in laws.

Now, when i went to this site, I d**n near had a heart attack. For God's sake, Ameriquest is the only place where I was treated like a human being, and not a credit score. It seems to me like all these complaints were from people who want to trash the company's good name because they couldn't get the lowest advertised rate that they saw on the TV and heard on the Radio. It's not their fault, They are not a conformative lender, they are a specialty lender and they were the only ones who would even spare me the time of day

And no, my rates and payments didn't increase, they stayed at the level I signed at. THis former employee must have been terminated for poor work habits and has an axe to grind. Well, I say to you, YOU REAP WHAT YOU SOW. Karma has a tendecy to bite you on the butt

Thank You Ameriquest, Thank you