Complaint Review: Ameriquest Mortgage Company

Let us get some facts straight. One of the most discouraging things we as mankind do is act on impulse, not facts. We are too willing to take the gossip and run, instead of educating ourselves with ALL the facts, then making a rational, educated decision.

In any sales enviroment is a common denominator, that is greed. The more you sell, the more you make. This is the basis for commissions. One of the largest errors that Ameriquest has made (a lesson learned) is that the sales people, originators, had too much power and control of crucial documents. This power along with the "greed" of a sales person can corrupt virtually anyone. Consider a policeman who makes a drug bust, and recovers $1 million. Do you think that it does not pass through his mind that he could still take come cash and no one would notice...?

Branch processors were put in place to do pre-underwriting and were the ones to order sensative documents like payoffs, pay histories, appraisal, etc. This eliminated much of the "fraud".

I worked for Ameriquest for nearly 5 years, as a sales person and Manager. Never was a asked to do anything "corrupt" or illegal. Secondly, if I ever was I would have taken it to my manager, or their manager, and handed in my resignation.

Ameriquest originates over $2 billion every month! Each and every loan goes through a quality assurance and due diligence process; to catch errors and to check for any fraud. Payoffs are reordered, tax returns are re-checked with the IRS, appraisals go through at least 2 reviews before a loan every funds.

Because of the relationships with investors, such as Duetche Bank, Saloman Brothers, and other Wall Street based investors, Ameriquest has over 100 offices set up in their Home Office for their potentional investors sit down and go over each and every loan.

Lastly, for you fellows ex-employees, if you knew anything about the company itself, you would know that the company motto was: "Do the Right Thing". Also, the owner Mr. Roland Arnall, is a HUGE advocate of education, and donates a large portion of the company profits into the Pasadena Public school system, as well as several consumer advocacy groups to heighten consumer awareness and educate them.

So, if anyone is to blame, it would be you. Because if what you say is true, and I sincerely doubt it to be 100% factual, then you are the most guilty, because worser is the man who knows right from wrong, but choses to do wrong.

* Now for the customers who feel wronged, I can sympathize with you. Through the years I have heard many stories and have handled numerous complaints. I can only say that "buyer beware" is still the most true statment. Verbal promises mean zero and will not stand in court. Ameriquest has a superb legal team and a great customer service dept, however if you cannot show a paper trail or any other bit of solid proof, then unfortunately, you cannot prove your case to anyone. Make sure you get it in writing, then it can become binding.

PS. All this BS from these ex-employees is no different from us a nation. We quick to blame the government or politicians, however we do not take action to vote replace them. Instead we just whine and complain.

happy thanksgiving, for I am very thankful that Ameriquest has given me the mortgage experience i have now.

I am a victim of Ameriquest mortgage also. They committed fraud and forgery in connection with my loan. If you feel compelled to trust them, make sure you review each and every document that they prepare. They will falsify your income and assets and even forge your signature. Buyer beware.

If you had read past the first line of what I wrote there silly, you would see that I don't defend the company, but I don't like patriot types like crazy person above making blinding accusations with no support whatsoever, If you people we're serious about helping people out of their problems w/ Ameriquest, you would've cured a serious problem in your branch by reporting it immediately to the attorney general, instead you write brash responses in hopes that it will cure you of your guilt...How many loans did you close before you decided to quit? 1-10? more? Did you apologize personally to all of those people? doesn't that put you in the same shoes?...that's what I thought. Grow a pair and put your name on what you write coward...but that would mean your past customers could find you...

This must be the most foolish response to this question...
The above post is by far the most inncorrect portrayal of Ameriquest Mortgage I have ever heard. Ameriquest awards its people for being as dishonest as possible. My X-manager would give congratulations to people that snaked people as much as possible. ABCD you may work in an honest branch, if so it's the first one that I have heard of. Lets examine the facts and make an accurate judgement. Currently Ameriquest is under a class action lawsuit from previous clients alleging high fees and unjust practices. The FBI is investigating multiple branches for unethical lending practices and has shut down multiple branches across the nation and two I know of here in Michigan. There are currently over 60+ posts here from either X clients and X employees stating exactly what was mentioned above, that Ameriquest is a mortgage chop shop that harms more people than it helps. Comon ABCD charging a person $10,000 in fees in order to consolidate 10,000 in credit card debt is a rip off. Either you have been brainwashed by the corporate slogan of "do the right thing" or your so new to the business that your still wet behind the ears. Get some experience under your belt and check out some of the other more reputable companies out there, then we'll talk.

The Truth

The individual that wrote this report is apparently found in many gossip circles and is one gullible fool. I used to work at a sister company of Ameriquest and heard all of the things over time that this person claims to have heard in one week, while I sympathise w/ many of the consumers who have been treated unfairly, and agree that they are an aggressive company that basically take alot from the consumer and give back a little to the employee,(like most billion dollar corporate entities)what this person thinks they know is absurd, come on, being afraid of violent reactions from their employer...paranoid and dillusional anyone? Let's keep these statements as honest as possible, ameriquest is hard to work for if you have a conscience, but they still have good employees. If you want to do some good writer, call the attorney General and let them know who did fraudulent loans, you won't however because you never get specifics like that in sewing circles, do you?

Different Branch
I work for a Different branch of the same company and we pride ourselves and are rewarded on our honesty policies, my manager is as honest a man as I know, and I resent the fact that this individualthinks that something he claims to have seen in one office is supposed to reflect nationwide on a company known for helping people. -DP