Complaint Review: Ameriquest Mortgage Company

Can I borrow some of your thread to make my blanket? I'm sorry, but that was just goofy. You do have SOME points, but you don't know every situation that borrowers were put in. You don't know how the AE's lie and have you sign one document, and the document that you get WITHOUT your signature is completely different (in most cases, the loan that you wanted).

It's not just that people don't shop around. A lot of the borrowers with Ameriquest go to them because they have bad credit and are told they can't get any better, or maybe DID shop around and couldn't get any better.

It's not just ignorance from the borrowers (and most of us are NOT ignorant or do not have bad credit), it's the lack of following the LAW on Ameriquest's part. Now go back and work on your blanket.

You response is one of the most incoherent postings that I have ever read on this subject. Put the cocktail down, sober up and rewrite your post.

To what ignorance concerns:
Maybe for once you people whom are purchasing the services from Ameriquest should stop and read the following docs: ***The closing papers.*** To my knowledge, and it is fact.....Ameriquest does not require any out of pocket expenses in the process of doing a loan. Really the only expenses you have is time, if the loan considered to be worthy of a purchase. Now after that being said, you might state "well, they put me a situation where I had to sign the closing papers."

Funny, the only time and the last time I remember I lost a dollar is when I dropped or lost it myself. I never was put in a situation I could not say stop or see this is not looking good, hence the phrase "something is fishy around here." Yes buyer beware anywhere you go, let me ask you this do you purchase a tv or radio without knowing the details of the product, much less the price? I do not, I have worked in retail stores growing up and people are very paticular about purchasing shoes more than you people about loans. Where do you get the idea this company is out to get you and chase you down with a stick until you sign papers. It's really easy, leave the area the horrible closing papers are in.

Proceed to your vehicle and leave and go back to find another loan. Wow, or if even worse they call you all the time just hang up the phone, change numbers......now that is alot of work and time consuming, but isn't that easier than having a shitty loan on your home. mmmmmmm

let me think, yes!!!!!!!!!But wait you say that is alot of work and much time to be spent to rid of this horrible company, well reading this article to this very point, would be the same time spent in changing your phone number or leaving the office. And for the slow readers of the group, go back to the part in this paragraph were it reads: ***The closing papers.***

Well I know this might be very insulting but read all your comments after you sit and rethink this phrase: DID I PUT MYSELF IN MY FINANCIAL SITUATION OR DID AMERIQUEST.....Now most of you signed papers and were planning on goals of freedom and debts to be leveled from your life. Everyone has problems but not everyone has the best solution, try shopping. It benefits you in the long run.

Now for the Ameriquest people, listen carfully they are coming, yes they are....hear them.....the media is hot on your trail, try this for size....stand up and not yell at them but reason with them, you have a talented PR and HR deptartment. Use them, they are not for making cookies or getting red bull. The media is blowing up everywhere, now for the truth that hurts.

***Little old ladies = people like.

***Media likes and little old ladies getting house taken from them.

***Even if it is was " no fault to be found on both sides" but and this is a big BUT.

***The media does love little old ladies getting house taken from them because, little old ladies can seem so nice and sweet...how can this big bank who sponsered a crappy superbowl take their home.
See the point, its a sexy story.....front pages. Do not let it boil over because it will burn your hands when trying to clean up the mess. Now with that said I will close my thoughts.

I do this with every board meeting I have with my sales guys. KISS....keep it simple stupid, its not hard to lose a deal but very hard to keep one.....and its not hard to make a great deal either.

Its just sorting through the bad s**t and finding the needle to start making your blanket. You all have the thread and you just need the needle to start your blanket(money), so do not let this crap bother you because all the good ones will prevail and leave or get fired, or just simply excel there.

And the bad ones will go through the same process, just a matter of time and picking up the piece of s**t rather than the needle. Ameriquest is a great training ground and will excel in its vehicle of lending but it needs to note that many smaller lenders are not far behind, if not passing them.

For you customers, you are customers....buying what you think think is right.......you have the right to shop and the right not sign anything you wish not ready or worthy of you signature. Kinda nice to have your signature also......

I have been in a situation in role playing with my closers to explain different rebuttals for my sales guys......

For example,I did not want to but forced to sign the docs presenting in front of me, Donald Duck........is what I signed. That is not my signature, I left, not double checking the signature they were happy.

After the session was over I told them to process the loan and I would have my SR. Processor look over it and it failed to approve.....beacuse it not my authrorized signature.

Funny how it works........they learned a great lesson, it does not pay to do shaddy work. So there is lesson for both you the customer and lender....

This letter was sparked by the interest of ignorance from this website, my buddy told me I had to read all the BS on this site. Very amusing to say the least.

Now please stop reading this and work.
Thank you and take care,

Notice to Ameriquest Mortgage Borrowers

A few weeks ago several class action lawsuits against Ameriquest Mortgage were consolidated and settled in Superior Court of California, County of San Mateo. The settlement offers cash compensation to customers who were allegedly hurt by past lending practices of Ameriquest.

If you received a notice of the settlement, ACORN urges you to read it carefully and to take the cash settlement if you qualify. For the vast majority of Ameriquest borrowers who qualify for the settlement, the proposed cash payment is both generous and fair.

A home purchase or home refinance is the largest financial transaction that most of us make. We owe it to ourselves, and to our children, to make sure that the mortgage loan process is free of deception and abuse. In our view, the proposed legal settlement offers adequate compensation to Ameriquest borrowers who may have been deceived in the past, while also insuring fairness and transparency for borrowers in the future.

The cash payment offered by the settlement is fair. I urge you to take it.

Sincerely yours,

Maude Hurd

I worked at Ameriquest for 4 years.

Region 6.

Fraud, drugs, whatever... there's fraud and drugs.. wherever you go. There's bad people everywhere. It's your choice.

Ameriquest screws up in that there is no "process" to promote people. People are thrown into positions that lack the leadership skills necesarry to guide people. So, they simply resort to badgering and harassment. Plus, they promote and protect their buddies.. And the guys promoted are all these coke-heads you read about.

My manager was an unbearable p***k. He was demoted not too long ago. His only management tool was to berate you. He basically sucked. (Mariano, good call demoting him!!!) My only regret is I didn't knock him out when he would attempt to embarass me in front of my staff. I poured my heart and soul into that job... It cost me my marriage in the end.. My own fault.. The point is I prioritized Ameriquest over my relationship and it cost me. I broke numerous records, promoted numerous members of my staff. All of it overlooked when the call was made to demote me.

Not to mention.. the guy that took after me was fired in 3 months.. what a joke. He ran the office into the ground. Meanwhile I was in the top 10 in the region.. It's obvious I was targeted.. I didn't "click" with my manager.. And I was never part of anyone's "crew."

I've been blamed of fraud before.. I can tell you right now--I have never participated in any fraud.. Could some of my staff have done fraud? Yeah, maybe... I'd be an a*s not to admit that much.. None that I know for a hard fact. But, guess what: Anyone in Ameriquest in any level of management committed fraud. This is undisputed fact. At some point in their career.. they were knee-deep in it. I know this for a fact.. information trickles back from these individual's pasts... very easily. Work your way up and then try to fix it from the inside?? Is that it? Or is it get promoted before you get caught like George French did and many others... Whatever...

Anyway, if Ameriquest just revisited the "process" with which they promote their leaders... it would solve 80% of their problems....

You can't promote some a*s that's been on the job for 3-9 months .. and expect smooth-sailing. It's retarded.

Do I sound disgruntled? Yeah, maybe I'm just venting.. just like the rest of you sorry pricks...

It's all true... Drug use, drinking, intimidation, gambling, sexual harrassment, drug use, document tampering, bullying appraisers in the offices-all true and never mind the abuses they put their customers through. "Do The Right Thing" is the most comical of all Ameriquests verbage.

I went through 4 managers in the year I was employed by Ameriquest. This is a bad company. No one mentions the big shake up in Mariano's Area.

All the fraud that went on in Florida and Mariano is still there. Let's look at the North East as a whole. Let's not forget some members of the elite management team like Steve Blood, Barry Sharif, Christopher Dolce ("class acts" all of them) ... Just look at the person at the helm (in New London, CT). It all trickles down from the top and I can't believe that Mary Jo Shelton is so blind to it all. Come on...

None of this information comes as a shock to me. Region 6 has been operating like this for years. And if you ever had any doubt that upper management, including Mariano and Mary Jo aren't in on it, then you must be either incredibly naive like The Colonel says, or you are blind and deaf.

Just look at the area managers and the people that make up the "inner circle" in region 6. If you put them all together in a row it would look like a police lineup in a rape investigation. Two words...Adam Rothman.

The first time I saw this guy I knew that he was a 2 bit career criminal. He even looked like a thug out of a bad gangster flick. In the corporate world the apples don't fall far from the tree. Rothman and Mendez have both either been demoted or thrown from Marianos graces because of too much evidence mounted against them (Rothman was busted for trafficking drugs). Gio, our area manager in GA is no better.

Not long ago they raided an office in our area and found a W2 making machine inside of the branch. When the real dirt comes out, all of these people in upper management will be tried and convicted because the evidence available is overwhelming.

I have been to four managers meetings, and the stuff about the drugs and partying is all true. Rich Williams, Mariano, Mendez, Corey, you all know what I am talking about. Mariano really is a genius at conniving people and he is very very good at selling his B.S. family man image to the stupids who come to Launchpad. If you people only knew the truth..lol. Sadly enough I am in the same hell as the Colonel and I did it to myself.

Heather, and Anonymous in NC....such naivete

Ladies, your naivete is adorable...but also sad. Don't think for one second that Mariano is "clean." He knows what is going on, and he is leading and creating that behavior in your region "behind the scenes" with his area mgrs.

He is not a stupid man by any means. So he definately would not show that side to AEs.
But I have had the unique experience of being in his "world" and have seen it and heard it.

I have been out partying with him and others, and have seen your "Saint Mariano" snort coke off a hooker's a*s (camera phones are a great invention!) Don't be fooled by the wolf in sheep's clothing.

He is a very crooked guy. I know he can seem sincere and believable, but that is just part of his skill set. He's a con artist, and a quite impressive one I might add.

Don't worry the longer you work for Ameriquest, you will have more "glimpses of the real AMC"

But by the time that happens you'll be making so much money....you'll pretend every thing is okay...and/or your hands will be so dirty by then...you can't do a d**n thing about it without incriminating yourselves. So welcome to my hell.

Heather,

I agree with John. Looks like you tried to sign Anonymous, but did not realize that the RipOff Report would sign your registered name also. I too say get out now while you have the chance. Although I would not be surprised if you were fired today.

Now, regarding your second post, I have to take exception to one of your statements. You said:

"2.As far as Lloyd in Greenbelt..I have never met the man, can't say good or bad as far as that goes. THey did break the record and good for them because regardless of how it was done, it took ALOT of hard work and effort!"

This is the whole problem with AMC, generate revenue for the company "regardless of how it is done". I'm curious, how did they break the record? By forging documents, overstating income, inflating appraisals and tacking on outlandish closing costs? I'm sure this was the case.

The Feds need to do a clean sweep of AMC once and for all. AMC will soon become the next Enron, and the consequences will be equally as bad. And I will say good riddance!

Kudos Heather, you just did a better job of backpeddling than Dion Sanders. Way to cover your a*s. I haven't seen a tap dancing routine that good since Gregory Hines died. For future reference, next time you choose to badmouth the people and the company that you are currently employed by, do yourself a favor and try not to print your real name and location by mistake...lol...it wont make for a good work environment.

Nice try Heather, I don't think that you apologizing after your name was found out is going to work. You might as well quit now because you know people in the office know who you are.

From what I know about Region 6 is that its all about money. AKA World Domination. It doesn't matter who gets hurt or what has to be done to make it happen, as long as the end of the month numbers show number one, that is all that matters. Being number one is important, but it should be gotten "at any cost." I have seen alot of FRAUD and very poor management throughout the company. Ameriquest only promotes the "super-stars" and does not look for any management characteristics or educational background. Because if you can sell, you can lead (AMC guidelines). Its a shame because the company could have helped people in bad situations much more effectively, rather they have taken advantage of the people that matter most, the customer. Your day will come soon AMC, licenses will start to be revoked and you will have to come up with a new name, you have already changed your name once (Long Beach Mortgage).

BUYER BEWARE!

In my haste yesterday I failed to clarify a few things.

1. As for Corey, I have never seen or heard of him mentioning anything illegal, unethical, etc....this I have only witnessed on a branch level. He has been in my branch recently and has actually been a breath of fresh air since we had lost our manager a little over a week ago. He is not a condoner of burnout hours and work ethics that we were used to. I am hoping that our newly assigned manager would follow by his example.

2.As far as Lloyd in Greenbelt..I have never met the man, can't say good or bad as far as that goes. THey did break the record and good for them because regardless of how it was done, it took ALOT of hard work and effort!

3. THe manager I was referring to yesterday is no longer with the company...as of a few weeks ago..Ameriquest does TRY to be ethical and I have seen that what goes around comes around in regards to what people get away with....which brings me to my last point...

4.Ameriquest as a whole is not a bad company. 99% of the people in my branch are good ae's with good intentions. I believe that you will find this kind of crap no matter what mortgage company you go to or business in general. There are always a few rotten apples in each bushel.
THe LC is also no longer here who falsified the home owners ins as it took place at least a year ago.

If I was a borrower, I would obtain a loan through Ameriquest....especially knowing what I went through with another company last year when I refi'd my home...when I got the table the #'s adn program were TOTALLY different than what I was told. Ameriquest does not do this..if htey tell you what your program is, that is what it is...they don't change it before or after you sign. I honestly believe that even the wrongdoings are with the intentions of helping homeowners get loans to help better their financial situation.

I am sorry if my words yesterday did not display my exact intentions which were to say...

Yes this stuff happens, but it happens everywhere else too and Ameriquest does try to ammend these situations when possible.

Yes i am looking for a new job...not in the mortgage industry...it has nothing to do with ameriquest as a company (wanted to clarify that as well)

Im glad to see that you guys in Maryland know how things are really run in region 6. I thought that maybe it was just Area 54 but now I know it is region wide and company wide. When I went to Launchpad I was so excited I can't even tell you. I had been fed the whole story about making all of this money and always "doing the right thing" and helping people, which I thought was awesome until I realized that it was all a well orchestrated lie.

Let me just say that Mariano Demarin was one of the most impressive, charismatic people that I have ever met, bar none. When he said something everyone believed him without question and I would have walked miles to earn his approval. He came off as the kind of man that was sincere and genuine and he brought the best out in his people. With that being said, once the training week was over, I got to return to our branch and back to reality. Fraud was a daily occurance. Lies, pressure, backstabbing, forgery and negativity were a daily fact of life.
The sad part is that our area manager couldn't have been more polar opposite of our fearless leader down in Florida. I never quite understood why a man as honorable and likeable as Mariano Demarin would EVER have a cockroach like Peter Miano working for him. This kid, and I say kid because to me he is not a man, encompassed eveything in a human being that I detest. He is a cocky, obnoxious, self promoting dickhead /imbecile with no respect for anyone, man woman or child. His leadership skills are non-existent and the only thing that he is actually good for is 1) covering his own a*s & 2) firing people that work under him in order to cover his a*s.

His numbers as an area are always the laughing stock of the region. Everyone that I know that works for him hates him with a passion. Between him and Corey Leonard, they have defrauded half of the eastern seaboard. And what do ya know, they both are still managers, still terrorizing their employees and still getting rich off of the backs of hard working people.

It almost pains me to say, but I have come to the conclusion that Mariano not only knows what these people working for him are up to, but even condones and perpetrates it. It's a really hard thing to accept, but it looks like he is the biggest con of the bunch. Kinda feels like when you were a kid and you found out that Santa was a fake. Mariano, to you I say I trusted you and I never wanted to believe that you knew about the things that your area's were doing, but facts are facts. You let a lot of good people down that would have worked their butts off for you and never thought twice. I just hope that when the grand jury is said and done you will come out clean on the other side.
The lawsuits are building and retribution is just around the corner. And if I AM wrong then why don't you respond to this letter and prove it. Remember that silence speaks VOLUMES.

FYI...I left Ameriquest several months ago and it was THE BEST DESCISION that I ever made. I hope that the rest of you still working for the Loyd Grants and Peter Mianos take notice and wise up before it's too late. And Mary Jo, I think you will look nice in an orange prison jump suit.

i have been with the company less than 6 months and would like to affirm everything being said. I also work in a maryland branch and have seen things such as title changes, falsified stated income, etc take place. my branch also has "nick" names for each of us although they are not demeaning, but keep in mind the competitive sales nature of our business.

As far as illegal, I have seen and heard request to our title company to change liens to "judgments" so that borrowers won't have to pay them if the MA is having problems with a debt ratio or a problem which would cause the loan to not be approved. I really never gave it a thought to being wrong as I also have had no previous mortgage experience. I have also seen falsified home owners insurance documents (devised by our LC's and the former manager who is now in another part of the country) as well as stated income documents that were well exaggerated to make loans "work".

Being the "ethical" person that I am, I am too looking for another job. It is sad because when you go to launch pad and you meet mariano you have no idea that this company is this way. mariano is a very ethical, wonderful person. I was sooo very dissapointed when i got to my branch and realized that the rumors were true. If Mariano was my manager I would never leave ameriquest. Unforutnately the branch managers are exactly as everyone says..I have never been so belittled in my entire life. I do not like to be treated as if everything I do is not good enough or cussed out everyday. You are expected to work at least 12 hrs per day...they say the new hrs are 9-7 or 10-8, but it is not realistic. You can not produce the results they expect doing this. And if you do leave at 7..they look at you and make rude comments.

I think that this will all come full circle...I feel bad for people like Mary Jo and Mariano who have worked so hard to build what they have..the branch managers are ruining it for everyone...they don't care..who wouldnt' want to earn 35-90K per month as a branch manager when all you have to do is yell all day long then go home and spend your money..??

I can honestly say that every loan I have done has been ethical and with the best intentions of helping the people i work with. Because of this, I of course have not been a "superstar". I fear everyday I will lose my job because I am not willing to disregard the "laws".

One last note, to my knowledge, our appraisers are not on our payroll, but I know my manager does buy them gifts to "keep them happy" so they will do the appraisals to our satisfaction and quickly!

If you are a consumer I would say just be careful.not everyone at Ameriquest is out to hurt you.some of us do have your best interest in mind and will do our best to be a positive influence to the others....

Working hard for the Borrowers in MD!-Anonymous

I am not questioning your animosity toward our company. That is painfully obvious. In regards to your question regarding empathy, my mother lost her home 4 years ago, therefore, my empathy is relevant.

I can't speak for every individual employed with the company, but here in Miami we act within the guidelines of ethics.

Apparently, your experience was otherwise. I feel for you as well, since you are obviously venting.

All I can say man, I hope your feelings toward our company change over time. I wish you the best of luck in future endeavors, financially, occupationally, and otherwise.

In regards to my manager, he represents all the company preaches; ethics, integrity, commitment, and a unique desire to help.

The person who wishes to remain anonymous stated that he was young with three college degrees. I find myself wondering if he can say what he means and mean what he says. A perfect example is how he stated that he has great empathy for some of the heartfelt statements that have been made on Ripoffreport.

"If you think you feel just like another person, you are feeling empathy. If you just feel sorry for another person, you're feeling sympathy."

Did this young man with three college degrees make one of the most common errors in the English language, or does he feel like the customers who have been victims of the widespread fraud and outrageous fees inflicted by Ameriquest?

Keep in mind, most colleges do not teach mortgage basics, and neither does Ameriquest. However,those 3 college degrees probably do make him a much better vacillator. If his intentions are truly good, he will eventually realize how much equity he has sucked out of all of his ALT A customer's homes who could have gotten a better deal with a direct lender. He will not know what an ALT A loan is until he works for a legitimate mortgage company; that is if he is lucky enough to find one that has not put a hiring freeze on former Ameriquest employees.

He pointed out that his manager will not let him give out business cards at the different charitable events hosted by Ameriquest. Working in a glorified boiler room may create a feeling of uneasiness in some workers. This is an attempt by the manager to assuage his, and by extension, his guilt over that fact.

I would like to point out that Enron was also one of the biggest contributors to charity in the country. They also conducted their own internal audits much like Ameriquest is doing in an awful lot of branches throughout the country.

The person who wishes to remain anonymous stated that he was young with three college degrees. I find myself wondering if he can say what he means and mean what he says. A perfect example is how he stated that he has great empathy for some of the heartfelt statements that have been made on Ripoffreport.

"If you think you feel just like another person, you are feeling empathy. If you just feel sorry for another person, you're feeling sympathy."

Did this young man with three college degrees make one of the most common errors in the English language, or does he feel like the customers who have been victims of the widespread fraud and outrageous fees inflicted by Ameriquest?

Keep in mind, most colleges do not teach mortgage basics, and neither does Ameriquest. However,those 3 college degrees probably do make him a much better vacillator. If his intentions are truly good, he will eventually realize how much equity he has sucked out of all of his ALT A customer's homes who could have gotten a better deal with a direct lender. He will not know what an ALT A loan is until he works for a legitimate mortgage company; that is if he is lucky enough to find one that has not put a hiring freeze on former Ameriquest employees.

He pointed out that his manager will not let him give out business cards at the different charitable events hosted by Ameriquest. Working in a glorified boiler room may create a feeling of uneasiness in some workers. This is an attempt by the manager to assuage his, and by extension, his guilt over that fact.

I would like to point out that Enron was also one of the biggest contributors to charity in the country. They also conducted their own internal audits much like Ameriquest is doing in an awful lot of branches throughout the country.

The person who wishes to remain anonymous stated that he was young with three college degrees. I find myself wondering if he can say what he means and mean what he says. A perfect example is how he stated that he has great empathy for some of the heartfelt statements that have been made on Ripoffreport.

"If you think you feel just like another person, you are feeling empathy. If you just feel sorry for another person, you're feeling sympathy."

Did this young man with three college degrees make one of the most common errors in the English language, or does he feel like the customers who have been victims of the widespread fraud and outrageous fees inflicted by Ameriquest?

Keep in mind, most colleges do not teach mortgage basics, and neither does Ameriquest. However,those 3 college degrees probably do make him a much better vacillator. If his intentions are truly good, he will eventually realize how much equity he has sucked out of all of his ALT A customer's homes who could have gotten a better deal with a direct lender. He will not know what an ALT A loan is until he works for a legitimate mortgage company; that is if he is lucky enough to find one that has not put a hiring freeze on former Ameriquest employees.

He pointed out that his manager will not let him give out business cards at the different charitable events hosted by Ameriquest. Working in a glorified boiler room may create a feeling of uneasiness in some workers. This is an attempt by the manager to assuage his, and by extension, his guilt over that fact.

I would like to point out that Enron was also one of the biggest contributors to charity in the country. They also conducted their own internal audits much like Ameriquest is doing in an awful lot of branches throughout the country.

The person who wishes to remain anonymous stated that he was young with three college degrees. I find myself wondering if he can say what he means and mean what he says. A perfect example is how he stated that he has great empathy for some of the heartfelt statements that have been made on Ripoffreport.

"If you think you feel just like another person, you are feeling empathy. If you just feel sorry for another person, you're feeling sympathy."

Did this young man with three college degrees make one of the most common errors in the English language, or does he feel like the customers who have been victims of the widespread fraud and outrageous fees inflicted by Ameriquest?

Keep in mind, most colleges do not teach mortgage basics, and neither does Ameriquest. However,those 3 college degrees probably do make him a much better vacillator. If his intentions are truly good, he will eventually realize how much equity he has sucked out of all of his ALT A customer's homes who could have gotten a better deal with a direct lender. He will not know what an ALT A loan is until he works for a legitimate mortgage company; that is if he is lucky enough to find one that has not put a hiring freeze on former Ameriquest employees.

He pointed out that his manager will not let him give out business cards at the different charitable events hosted by Ameriquest. Working in a glorified boiler room may create a feeling of uneasiness in some workers. This is an attempt by the manager to assuage his, and by extension, his guilt over that fact.

I would like to point out that Enron was also one of the biggest contributors to charity in the country. They also conducted their own internal audits much like Ameriquest is doing in an awful lot of branches throughout the country.

With all due respect to the individuals and families who have suffered financial adversity as a direct result of unyielding circumstance, accountability is something many people lack. The statements in these reports are heart felt, and I respond in empathy to many of you who have suffered. However, the statements about people being uneducated, manipulative, fraudulant and of poor intent are completely false. I myself, have three college degrees, am young, ambitious and ethical. I have recieved numerous letters from borrowers detailing how I have improved the quality of their lives and the impact I have had on the future of their children. It is that feeling of fulfilment which I awaken with each morning when I prepare for another day of miracles in my Miami community. Its funny, we read all this information pertaining to the destruction and innevitable demise of this great company, yet we never read the truth. Nobody ever mentions how we donate time and money into educational programs at local schools, or how we go to various neighborhoods on holidays to hand out gifts and offer comfort to those less fortunate. Infact, my manager, Rudy Hernandez, refuses to allow us to bring business cards to those events sighting "this is about more than business today, this is about humanity and life". Ironically, humanity and life is our business. Everyone from Mariano, to myself know that our work is not about our paychecks, its about going home to our families everynight proud of what we have done to represent ourselves, our comapany and our families. Do not make judgements regarding anyone or anything based on what you read, base your life on your competence, your decisions, your family and your heart. Because heart, empathy, passion, fulfilment and a unique desire to help is what Ameriquest does....and with that we have found tremendous success. I wish nothing but the best for all people I come across in my personal life and in business. Ameriquest is one thing without question, and this is completely dedicated to building a solid financial foundation for families in our communities. We strive to make the american dream a reality.

I think T should look up the word diatribe in the dictionary.

It is obvious that Ameriquest keeps employees like T because they want uneducated Account Executives at most of their branches. Clearly, they do not want anyone intelligent or savvy enough to understand how the Secondary Market works.

The training program at Ameriquest teaches next to nothing about traditional mortgages. The only thing taught is the unique underwriting guidelines that enable the AE's to rush customer's to the closing table. A proper refinance loan takes at least 3 weeks to originate, process and underwrite for closing.

As for the Secondary Market, 25% of Ameriquest's loans are sold to investors. It is obvious that Ameriquest allows fraud to take place at most of their branches, then they pin all of the fraud on the Branch Manager or Account Executive and then go on to conduct their own internal audit. At that point, Ameriquest keeps the fraudulent loans for their own portfolio. The more legitimate loans are sold to investors.

You do not have to be Sherlock Holmes or Perry Mason to deduce that there is an obvious pattern at Ameriquest branches throughout the country.

Enough! No one forces you to sit down and sign these documents without reading them and understanding. And I'm sorry but the old line of the AE was pressureing me, you're the one signing the docs, and you are the one who will be stuck with the mortgage for 30 years.All of our lives we are tought that salesmen lie, yet we go in and expect these commissioned salesmen to do the best for us and believe everything they tell us. Don't be ridiculous! You are in control of the final moments of your loan so take responsibility for signing faulty documents! You cannot blame ANYONE else for that.
Those people are no longer working for Ameriquest BECAUSE they did the wrong thing. Now you do the right thing and own up to the responsibility you signed for.
I have little doubt though that this message will be discarded. It doesn't belittle the company you folkes want to dig at!

Look at this company, their own employees post something and then say its not true. How are you going to trust this company...they can't even stick by their word!!!!! They are so confused they don't know what they see and don't see!!! Listen, to all you consumers and employees, this company will not be around long, and if they are nobody will be making money in a year. With all the law suits being payed they are just gonna keep cutting your money, get used to it!! First of all, Lloyd is a crook, he has to be, Corey demands it. If he isnt a crook he could never meet all the high expectations of this absurd company. That will eventually be what ruins this place. Lloyd is running a branch as a horrible man, a horrible manager, a horrible role model, and with no feelings at all for borrowers. I wish you would open your eyes Mariano, you need to replace at least 30% of your managers right away. Maybe that is what you will talk about in Fort loderdale this weekend. ALL THE THINGS ARE TRUE ON THIS REPORT!!!!!! Mary Jo, Wayne, Ronald, Mariano, wake up....soon this is all gonna blow up in yuor face....after all, you can't pay everyone 50 million dollars to say nice things about you.

All you have to do is read the employee entries on here to see that the pattern is the same throughout the company.

Allow me to copy and paste my own here:

Corey Scandin Hedges his Bets

I heardthey fired the manager in Egg Harbor who was a little wet-behind-the-ears punk. You see, Corey Scandin wants young naive managers at most of his branches because they don't fully understand the consequences of their actions.

Once they have a short run as the branch manager, they are fired. Then Ameriquest conducts their own internal audit and they then pin all of the fraud on the manager. Since they sell 25% of their loans on the secondary market, they probably keep the fraudulent loans and sell the more legitimate loans to investors.

Ameriquest just hired a bunch of new employees in Area 49 and Scandin will be watching all of them. If you are a new employee - watch out! Scandin speaks with a forked tongue, and if he ascertains that you think critically you will be fired.

I was hired in December, and there are only 2 people left from my initial training group. One is young and dumber thana rock, and the other made every effort to ingratiate himself with Scandin and every scumbag in upper management.

When Scandin decides who his favorites are, they are given workable leads. All of the other poor schmucks will be given the same recycled leads from Snap along with the outbound leads. It is virtually impossible to convert those leads because it is literally like opening up the phone book. Once you sit there and make 250 calls a day for 3-4 months and can't close 7 loans a month, you will be given a 30 day notice - talk about blatant favoritism!!!!!!!!

As you can see, Corey Scandin is the principle architect of area 49. Watch his body language, it speaks volumes!!!!!!!!!!!!!

John - Philadelphia, Pennsylvania
U.S.A.



Rebuttal REBUTTAL employee
Submitted: 4/26/2005 8:55:04 PM Modified: 4/26/2005 8:55:04 PM



Corey Scandin Follows the Same Pattern as other Ameriquest Area Managers



To all the new employees who were hired recently by Ameriquest for Area 49: Get out while you can!

If you are skeptical about what you are reading on here it is mainly due to the fact that Scandin and his cohorts have you hyped up about the pie in the sky numbers that they gave you in the interview. But ,the fact remains that unless you are ready to have a brown nose, if you are dumber than a rock or if you are a double-dealing conniver, you will not last more than 4 months.

Let's look at some excerpts from other Ameriquest employees who have shared their thoughts with us.

--------------------------------------------------
Quinton
Greenbelt, Maryland:

I worked for Lloyd Grant, the "golden boy" of the Maryland area. This guy was promoted to run a branch after being with the company for less than 6 months. Do you want to know why, because he closed 36 loans in one month, that's right, 36!!! He always brags in our office how he closed those loans, through his "girls" that he has in other company's feeding him leads illegally!!!

That's just the tip of the iceberg, as soon as this guy walked into the office with his "ghetto" attitude, it's been nothing but fraud ever since. I've witnessed him on the phone with our title company begging them to remove liens from title just so we can close a loan. Or to put someone else on the title that didn't belong there in the first placed, just so we could do the loan as a refi instead of a purchase, this guy is crooked!

And this goes all the way to the top, the area manager, Cory Lenard, knows that all this goes on but just turns a blind eye. He never even comes into our office, and when he does, him and Lloyd just joke about all the money they are making and the girls that they hooked up with during the weekend. The area manager frequently goes out with the salespeople, but only a few certain salespeople, his "crew".
--------------------------------------------------


This is exactly how the new office in Berwyn was run from what I have heard. The manager, who was also a 7-month rookie, carried himself the same way and engaged in the exact type of fraudulent activity that took place in Maryland. That particular manager was fired. Ameriquest conducted their own internal audit and pinned everything on him. They also had to hire a security guard because he threatened to kill Scandin. This was mainly due to the fact that Scandin befriended him outside of the office - Scandin does this with all of his flunky managers and potential flunky managers.

--------------------------------------------------
Mariano
Mirimar, Florida:

AE's are forced to work 70 hr weeks and are threatened to be fired on an almost daily basis. Fraud is rampant and I have not only seen this first hand (fake signatures, cut and paste of almost every type of doc from W2's to insurance) but from speaking to other AEs in different areas, the stories are almost identical. The branches that are doing over 12 million in rev a month are ALL dirty. It is impossible for an AE trying to do things honestly to compete with dirt bags who lie, cheat and steal their way to Hawaii trips & $200,000 plus salaries. All one has to do to see this first hand is go into a branch, you will find an unqualified manager barking at a group of even less qualified account execs about why there isn't more gain on the board. You will see a group of 10-15 males all under 30 years old, throwing soccer balls around like monkeys and bragging out loud about the "last poor dumb b*****d that I bent over". All of these posts on this site are true.

THE APPRAISERS ARE ALL ON THE PAYROLL.The closing agents are taught to use the HUD arm, an old trick where the schedule of disbursements is covered by the notaries arm during signing so that the customer doesn't see the sick enormous fees and the pre-pay that are being charged to them. I myself have done countless loans where there was very little or no benefit to the customer...but they were done anyway because it meant $$ for the manager and the processors, and they threaten your job and pressure the AE's into signing them. I have also signed countless deals where I checked the final numbers after signing, only to find that the rate and the fees had been dramatically changed.

This company is SO greedy that it not only screws the customer, but after the loan signs, the corporate offices give seven days for the loan to fund, or else you as an AE get half of the revenue that was rightfully yours. They wait until the fourth day in and then sock you with a list of stips to collect that are so long that they KNOW you will never clear them in time. Hence, they take half of your money. Where does that money go? Who knows. Bottom line is, this company is about one thing, and that is the bottom line. Greed, Greed, Greed. I feel like I lost a piece of my soul working there, and I regret all of the bad loans that I have done.

--------------------------------------------------

This is exactly how Scandin's branches are run in Egg Harbor, Cherry Hill, King of Prussia, Berwyn, Bensalem and several others.

Scandin has been told by Account Executives at his branches that the fraudulent activity is not isolated to the Branch Manager. He has also been informed that appraisers ask for kickbacks to inflate the appraisals and he turns a blind eye to it.

Fact: Two of Scandin's Branch Managers have been fired this year, in Egg harbor and Berwyn. Both were rookie Account Executives with less than a year's experience, both were under 30 and both carried themselves like the thugs. Does anyone really think that Scandin does not know what kind of people he is appointing to his branches?

Scandin is following the same pattern that all of the other Area Managers are.

I would like to challenge every Account Executive who is fired or given a 30-day notice to send a copy of this report to Corey Scandin.

All you have to do is read the employee entries on here to see that the pattern is the same throughout the company.

Allow me to copy and paste my own here:

Corey Scandin Hedges his Bets

I heardthey fired the manager in Egg Harbor who was a little wet-behind-the-ears punk. You see, Corey Scandin wants young naive managers at most of his branches because they don't fully understand the consequences of their actions.

Once they have a short run as the branch manager, they are fired. Then Ameriquest conducts their own internal audit and they then pin all of the fraud on the manager. Since they sell 25% of their loans on the secondary market, they probably keep the fraudulent loans and sell the more legitimate loans to investors.

Ameriquest just hired a bunch of new employees in Area 49 and Scandin will be watching all of them. If you are a new employee - watch out! Scandin speaks with a forked tongue, and if he ascertains that you think critically you will be fired.

I was hired in December, and there are only 2 people left from my initial training group. One is young and dumber thana rock, and the other made every effort to ingratiate himself with Scandin and every scumbag in upper management.

When Scandin decides who his favorites are, they are given workable leads. All of the other poor schmucks will be given the same recycled leads from Snap along with the outbound leads. It is virtually impossible to convert those leads because it is literally like opening up the phone book. Once you sit there and make 250 calls a day for 3-4 months and can't close 7 loans a month, you will be given a 30 day notice - talk about blatant favoritism!!!!!!!!

As you can see, Corey Scandin is the principle architect of area 49. Watch his body language, it speaks volumes!!!!!!!!!!!!!

John - Philadelphia, Pennsylvania
U.S.A.



Rebuttal REBUTTAL employee
Submitted: 4/26/2005 8:55:04 PM Modified: 4/26/2005 8:55:04 PM



Corey Scandin Follows the Same Pattern as other Ameriquest Area Managers



To all the new employees who were hired recently by Ameriquest for Area 49: Get out while you can!

If you are skeptical about what you are reading on here it is mainly due to the fact that Scandin and his cohorts have you hyped up about the pie in the sky numbers that they gave you in the interview. But ,the fact remains that unless you are ready to have a brown nose, if you are dumber than a rock or if you are a double-dealing conniver, you will not last more than 4 months.

Let's look at some excerpts from other Ameriquest employees who have shared their thoughts with us.

--------------------------------------------------
Quinton
Greenbelt, Maryland:

I worked for Lloyd Grant, the "golden boy" of the Maryland area. This guy was promoted to run a branch after being with the company for less than 6 months. Do you want to know why, because he closed 36 loans in one month, that's right, 36!!! He always brags in our office how he closed those loans, through his "girls" that he has in other company's feeding him leads illegally!!!

That's just the tip of the iceberg, as soon as this guy walked into the office with his "ghetto" attitude, it's been nothing but fraud ever since. I've witnessed him on the phone with our title company begging them to remove liens from title just so we can close a loan. Or to put someone else on the title that didn't belong there in the first placed, just so we could do the loan as a refi instead of a purchase, this guy is crooked!

And this goes all the way to the top, the area manager, Cory Lenard, knows that all this goes on but just turns a blind eye. He never even comes into our office, and when he does, him and Lloyd just joke about all the money they are making and the girls that they hooked up with during the weekend. The area manager frequently goes out with the salespeople, but only a few certain salespeople, his "crew".
--------------------------------------------------


This is exactly how the new office in Berwyn was run from what I have heard. The manager, who was also a 7-month rookie, carried himself the same way and engaged in the exact type of fraudulent activity that took place in Maryland. That particular manager was fired. Ameriquest conducted their own internal audit and pinned everything on him. They also had to hire a security guard because he threatened to kill Scandin. This was mainly due to the fact that Scandin befriended him outside of the office - Scandin does this with all of his flunky managers and potential flunky managers.

--------------------------------------------------
Mariano
Mirimar, Florida:

AE's are forced to work 70 hr weeks and are threatened to be fired on an almost daily basis. Fraud is rampant and I have not only seen this first hand (fake signatures, cut and paste of almost every type of doc from W2's to insurance) but from speaking to other AEs in different areas, the stories are almost identical. The branches that are doing over 12 million in rev a month are ALL dirty. It is impossible for an AE trying to do things honestly to compete with dirt bags who lie, cheat and steal their way to Hawaii trips & $200,000 plus salaries. All one has to do to see this first hand is go into a branch, you will find an unqualified manager barking at a group of even less qualified account execs about why there isn't more gain on the board. You will see a group of 10-15 males all under 30 years old, throwing soccer balls around like monkeys and bragging out loud about the "last poor dumb b*****d that I bent over". All of these posts on this site are true.

THE APPRAISERS ARE ALL ON THE PAYROLL.The closing agents are taught to use the HUD arm, an old trick where the schedule of disbursements is covered by the notaries arm during signing so that the customer doesn't see the sick enormous fees and the pre-pay that are being charged to them. I myself have done countless loans where there was very little or no benefit to the customer...but they were done anyway because it meant $$ for the manager and the processors, and they threaten your job and pressure the AE's into signing them. I have also signed countless deals where I checked the final numbers after signing, only to find that the rate and the fees had been dramatically changed.

This company is SO greedy that it not only screws the customer, but after the loan signs, the corporate offices give seven days for the loan to fund, or else you as an AE get half of the revenue that was rightfully yours. They wait until the fourth day in and then sock you with a list of stips to collect that are so long that they KNOW you will never clear them in time. Hence, they take half of your money. Where does that money go? Who knows. Bottom line is, this company is about one thing, and that is the bottom line. Greed, Greed, Greed. I feel like I lost a piece of my soul working there, and I regret all of the bad loans that I have done.

--------------------------------------------------

This is exactly how Scandin's branches are run in Egg Harbor, Cherry Hill, King of Prussia, Berwyn, Bensalem and several others.

Scandin has been told by Account Executives at his branches that the fraudulent activity is not isolated to the Branch Manager. He has also been informed that appraisers ask for kickbacks to inflate the appraisals and he turns a blind eye to it.

Fact: Two of Scandin's Branch Managers have been fired this year, in Egg harbor and Berwyn. Both were rookie Account Executives with less than a year's experience, both were under 30 and both carried themselves like the thugs. Does anyone really think that Scandin does not know what kind of people he is appointing to his branches?

Scandin is following the same pattern that all of the other Area Managers are.

I would like to challenge every Account Executive who is fired or given a 30-day notice to send a copy of this report to Corey Scandin.

I used to work for Lloyd and I agree is the biggest crook around. I personally watched him threaten title companies and employees.

I don't have first hand knowledge of Lloyd Grant bullying title companies, employee's, or customers. I never saw him put his hands on anyone, and I never saw him make someone cry. The information in my first statement was hearsay and taken out of context.

What was written about the Greenbelt manager in the statement was falsified and taken out of context.

Please understand I am still an employee with this company and must keep that confidential. However, the whole company is not bad. Mariano, the regional manager who works in Miami, is a good man who is ethical and trains good people. BUT OPEN YOUR EYES....this company is so focused on making money that they overlook everything else. They are now trying to shorten hours to help employees get balance in their lives? Come on everyone, this is just not going to work. The second production stops and all the employees in the 44 stop producing we are going right back to working 14 hours a day. Lloyd Grant is the biggest crook we have. Working for him is a nightmare. He threatens jobs, co workers, title companies, borrowers and everyone else. If this company wants to survive all these law suits they better change up. Guess what....its okay to only do 13 million a month and do 80 good ethical loans. All the 44 needs to be audited. Owings Mills Manager just got promoted....that is hilarious!!!! Who is next, Lloyd? Hey Mary Jo, you are losing good people everyday because they are tired of the fraud, lying, cocaine abuse, and young men with too much money abusing power they don't know what to do with. "The Prophet" will be the downfall of this company if he has his job another day!!! Oh and by the way....Corey Knows all this and chooses to "not know about it". Either way your screwed mariano, either your employees are that fraudulant or that stupid. I am leaving soon also once i find another job with a real company. But for the time being I will be keeping my paycheks doing good loans. Hey Mary Jo, when we pay off our multi million dollar settlements can we get quartelys back? Good luck everyone....be prepared for the floor falling out. Oh and by the way, once I am gone I am going public....newspapers, everything. Do the right thing...thats what you say right. Hey new guys going to launch pad....be prepared for lift off to planet fraud.

Quinton, I hear you good for you to get away, I was thrilled when I left Owings mills. I have first hand knowledge that Lloyd "the profit" Grant not only bullies the title companies to take liens off of title but he also bullies clients into signing the loan documents even if they dont want to.

He has pinned a woman against the wall and made her cry, while insulting her for having bad credit, and made her sign a deal that is going to make her lose her home. To all consumers out there, educate yourself!!

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! 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.

If it sounds to good to be true it is, if you dont think your house is worth what they say it is, that is called an AVM (automated value monitor), it probably isn't.

Shopping around, call the names you trust. Can you believe that the MLB and the NFL would have this company as its spokesperson. It's all about big business, not its employee's or its customers. The rich get richer and the poor get foreclosed on.