Complaint Review: Ameriquest Mortgage Corporation

I was one of the original AE's when Ameriquest opened its Columbia SC branch. When our second manager in two months came in I saw what it took to make it at Ameriquest. Basically lie, cheat, scam, and then get rewarded!

Ameriquest only cares about the bottom line. They feed newcomers to the mortgage industry through their training program 80 at a time. They purposely hire people with no mortgage experience, so that they can brainwash them into thinking that Ameriquest really is doing the right thing, when in fact, everything from the start, to the finish of the loan process soley benefits Ameriquest. Consumers who aplaud Ameriquest simply do not know any better. Any loan Ameriquest has done is the absolute worst loan in the mortgage business.

Ameriquest purposely targets people who are down on their luck, elderly, or low-mid income. They just settled millions of dollars in law suits, and say that they are cleaning up their fraudulant operations, but take it from someone who just left a couple of weeks ago, it is all smoke and mirrors. I know fraud existed in the Columbia office in the form of white-out, and exacto knives used to make income documents work, and put people in loans that they could not legitimately afford! This goes on in every Ameriquest office, because the pressure comes from the top to constantly produce, or you will be fired.

Look who is in charge. Ameriquest has tried to change its image, but the same people are still running the show. The same people that were running the show when Ameriquest was found guilty of fradulant activity. The company has bought its way out of that mess, and just comtinues on the same path. They fire employees who get a conscious, and reward employees who cram bad loans down peoples' throats. We had a meeting once and a AE had just signed a loan that was of no benefit at all to the customer. The manager rewarded this AE at the meeting for his outstanding job in getting a bad loan signed! This AE was then made a team leader to help show others how to do the same thing!!

I have some soul searching of my own to do because I do not feel good about what went on with that company, and some of the things I was encouraged to do. Please do not do a loan with Ameriquest. Take their loan to a broker, and I guarantee you he will give you a much better deal! This company really has to be stopped, because they have a marketing machine that will keep scaming people into thinking that they are really looking out for them, when in fact they only care about $$$$$.

Dustin
Columbia, South Carolina
U.S.A.