Complaint Review: AMERIQUEST MORTGAGE

Meg,

I don't know which one of your mommy's boyfriends beat you so much that you've turned your anger toward defrauded borrowers on a website, but really - - take some time for yourself to evaluate what you're doing here.

I'll bring you up to speed once more, since you have a learning disability: I left Ameriquest yearrrs ago, on my own terms.

My statement about 3.XXX points on a loan at AMC was in support of the earlier statement that AMC hired people with no industry experience and provided a "mushroom" education. Research that one.

"...they think they are experts."
After doing your research here properly, you will find that I have never claimed to be an expert. Not in anything. I would never make such a sophomoric claim. I have claimed ex-employee knowledge of practices at Ameriquest and have offered some tips to borrowers here.

YOU - have ripped into borrowers and other posters on this board and you have defended that P.O.S. company that is now receiving --on this board-- only a portion of the exposure that is due them.

"In April our bottom 3 consisted of..."
So, now you claim to have been employed by Ameriquest during April of 2006? How long have YOU been in the industry, Megliomaniac? Oh, forget it. Nobody cares. I never met you at the Big Spin, at the Superbowl, nor in Hawaii.

This is the best part from your post, Mrs. Grammar Teacher:
"So continue to spout-off ignorantly people. Im sure your 2 years in the industry affords you the luxury of making expect commentary.

Meg,

I don't know which one of your mommy's boyfriends beat you so much that you've turned your anger toward defrauded borrowers on a website, but really - - take some time for yourself to evaluate what you're doing here.

I'll bring you up to speed once more, since you have a learning disability: I left Ameriquest yearrrs ago, on my own terms.

My statement about 3.XXX points on a loan at AMC was in support of the earlier statement that AMC hired people with no industry experience and provided a "mushroom" education. Research that one.

"...they think they are experts."
After doing your research here properly, you will find that I have never claimed to be an expert. Not in anything. I would never make such a sophomoric claim. I have claimed ex-employee knowledge of practices at Ameriquest and have offered some tips to borrowers here.

YOU - have ripped into borrowers and other posters on this board and you have defended that P.O.S. company that is now receiving --on this board-- only a portion of the exposure that is due them.

"In April our bottom 3 consisted of..."
So, now you claim to have been employed by Ameriquest during April of 2006? How long have YOU been in the industry, Megliomaniac? Oh, forget it. Nobody cares. I never met you at the Big Spin, at the Superbowl, nor in Hawaii.

This is the best part from your post, Mrs. Grammar Teacher:
"So continue to spout-off ignorantly people. Im sure your 2 years in the industry affords you the luxury of making expect commentary.

Meg,

I don't know which one of your mommy's boyfriends beat you so much that you've turned your anger toward defrauded borrowers on a website, but really - - take some time for yourself to evaluate what you're doing here.

I'll bring you up to speed once more, since you have a learning disability: I left Ameriquest yearrrs ago, on my own terms.

My statement about 3.XXX points on a loan at AMC was in support of the earlier statement that AMC hired people with no industry experience and provided a "mushroom" education. Research that one.

"...they think they are experts."
After doing your research here properly, you will find that I have never claimed to be an expert. Not in anything. I would never make such a sophomoric claim. I have claimed ex-employee knowledge of practices at Ameriquest and have offered some tips to borrowers here.

YOU - have ripped into borrowers and other posters on this board and you have defended that P.O.S. company that is now receiving --on this board-- only a portion of the exposure that is due them.

"In April our bottom 3 consisted of..."
So, now you claim to have been employed by Ameriquest during April of 2006? How long have YOU been in the industry, Megliomaniac? Oh, forget it. Nobody cares. I never met you at the Big Spin, at the Superbowl, nor in Hawaii.

This is the best part from your post, Mrs. Grammar Teacher:
"So continue to spout-off ignorantly people. Im sure your 2 years in the industry affords you the luxury of making expect commentary.

Meg,

I don't know which one of your mommy's boyfriends beat you so much that you've turned your anger toward defrauded borrowers on a website, but really - - take some time for yourself to evaluate what you're doing here.

I'll bring you up to speed once more, since you have a learning disability: I left Ameriquest yearrrs ago, on my own terms.

My statement about 3.XXX points on a loan at AMC was in support of the earlier statement that AMC hired people with no industry experience and provided a "mushroom" education. Research that one.

"...they think they are experts."
After doing your research here properly, you will find that I have never claimed to be an expert. Not in anything. I would never make such a sophomoric claim. I have claimed ex-employee knowledge of practices at Ameriquest and have offered some tips to borrowers here.

YOU - have ripped into borrowers and other posters on this board and you have defended that P.O.S. company that is now receiving --on this board-- only a portion of the exposure that is due them.

"In April our bottom 3 consisted of..."
So, now you claim to have been employed by Ameriquest during April of 2006? How long have YOU been in the industry, Megliomaniac? Oh, forget it. Nobody cares. I never met you at the Big Spin, at the Superbowl, nor in Hawaii.

This is the best part from your post, Mrs. Grammar Teacher:
"So continue to spout-off ignorantly people. Im sure your 2 years in the industry affords you the luxury of making expect commentary.

You said,

"The hardest thing to overcome -usually- was their huge fees and points. 3.361 ponts. 4.283 ponts. 3.614 points. To be honest, I thought that was normal."

No wonder your responses are so misinformed! How long have you been in this industry Rex? Have you ever written a EVEN ONE Fannie deal, one FHA deal, or JUST ONE VA deal?

This is the problem. You have people that came into the industry a couple years ago, and they think they are experts. The truth is, what is done at AMQ is done in brokerage firms nationwide. You are all so naive.

I can GUARANTEE that NOT ONE office functioned the way you said it did in my AREA 49. The bottom 3 fired every month? Are you kidding? In April our bottom 3 consisted of the top producer in our office who happened to have a bad month, the "informal" assistant manager, and a new guy. As a branch manager, I would NEVER have fired my best people. They made me so much money!!!

So continue to spout-off ignorantly people. Im sure your 2 years in the industry affords you the luxury of making expect commentary.

In my employment experience at AMC, there was no end to the verbal abuse dished out by one of our Area Managers. He didn't last long, but it wasn't for that reason. He simply couldn't motivate people in 4 or 5 branches to do what he was able to do: lie, cheat, steal. His income decreased, he became frustrated, and he was bounced because sales numbers were down when he was a Manager.

Because AMC specializes in subprime lending, branch employees WERE TAUGHT to denigrate borrowers who had great credit. Otherwise, they didn't fit into the system. These borrowers were simply great candidates for other loan products, or for other lenders. But, not great candidates for Ameriquest.

The hardest thing to overcome -usually- was their huge fees and points. 3.361 ponts. 4.283 ponts. 3.614 points. To be honest, I thought that was normal. If you walk into a bank today, they display their rate/points for a 30-fixed, 15-fixed and 5-year. Maybe a 30-fixed at your local branch of a nationally-recognized bank includes 1.137 points. I figured that the software at AMC was kicking out 3.361 points because the FICO was low, the cashout was high, the DTI was high, the LTV was high, and the income was stated on a rental property.

Not true in all cases. With 730 FICO, Full Doc, Owner-Occ, 70% LTV, with no lates, the points were still 3.XXX --- every time.

Their short-sightedness involves initially not having loan programs available for all types of borrowers. As I was leaving the company, AMC was rolling out new loan programs targeting A-paper borrowers.

We had a bin where we placed our turn-down files. Most times, the borrower was turning down our offers.

Branch Managers had to constantly recruit new Loan Origination Officers (joke title) to replace the bottom 3 that were cut each month. Why not give those people more training and more one-on-one time? Why not develop your people? Because they believed that you either had it or you didn't. They only cared about having a**es in seats. Smile and Dial.