Bill & Ted
Orange,#2Consumer Comment
Tue, August 22, 2006
Thanks for the input about my questions, you would think that since they are easy question that ameriquest would just answer them for me and not just put off answering questions it just make them look bad, but that seems to be what they want.
Rex
Campbell,#3UPDATE EX-employee responds
Tue, August 22, 2006
Bill & Ted: Did my answer above not work out for your purpose? Were they REQUIRED? For some loans they were required. I can't say for certain during which time period which parameters mandated impounds on which loans. I have old info. They may have been required as investors' preferences changed --- OR, as investors changed. To comment on policy is a little risky because policy changed so many ways while I was employed there that one must assume that policy continued to change after I departed.
Bill & Ted
Orange,#4Consumer Comment
Fri, August 18, 2006
They have all benefited from our money and they are all helping Ameriquest try to steal our homes. Rex, Does ameriquest require home owners insurance and hazard insurance to close loans? The information about the money the borrower never got is interesting, was there a name for the account it went into? I hear they gave to employees money to go to Vegas to gamble with? it this true? Is there anyone here reading from ameriquest that's still working there? I everyone I hope all is going well with all our battles to save our homes. Fight Back Hard! :o)
Ken
Holland,#5Consumer Suggestion
Tue, August 15, 2006
They are all CROOKS! And they all owe it to Ameriquest!
Bill & Ted
Orange,#6Consumer Comment
Sat, August 12, 2006
What do all theses people have in common?
Bill & Ted
Orange,#7Consumer Comment
Sat, August 05, 2006
Thanks Rex for taking the time to answer, it's a drag when you cant get answers to easy questions. Have a nice weekend ;o)
Rex
Campbell,#8UPDATE EX-employee responds
Sat, August 05, 2006
There really should be others answering your questions. That's lame. I have seen HUDs that needed changes for a variety of legitimate reasons. Most common [there] was the Debt Ratio was too high for the original loan proposal and a different loan program brought that % down to get the loan approved. Differnt term, rate, points, escrow, payment - would bring up different final figures on the HUD. Escrow is the most arcane of the group. Your Point - The difference between the two figures is not kept by the AE. The company frequently revises a sales volume / commission % multi-tiered incentive plan for "revenue generated" by all loans per month and the Milton-Bradley method of accounting determines the tiny fraction paid to the AE. They're not getting rich on one loan. They're not getting rich. Stack up the loans per month and most AEs are doing the best they've ever done.
Bill & Ted
Orange,#9Consumer Comment
Sat, August 05, 2006
Sorry about the lame thing I figured that I would never get an answer, thanks for the information about escrow accounts. What I would like to know also is since they didn't pay off some of the things as promised actually not one thing on the HUD's matched the checks that I got after the closing. That amount would have been thousands, does the AE keep pocket the money or does ameriquest get that money? Thanks for taking the time to reply.
Bill & Ted
Orange,#10Consumer Comment
Sat, August 05, 2006
Sorry about the lame thing I figured that I would never get an answer, thanks for the information about escrow accounts. What I would like to know also is since they didn't pay off some of the things as promised actually not one thing on the HUD's matched the checks that I got after the closing. That amount would have been thousands, does the AE keep pocket the money or does ameriquest get that money? Thanks for taking the time to reply.
Bill & Ted
Orange,#11Consumer Comment
Sat, August 05, 2006
Sorry about the lame thing I figured that I would never get an answer, thanks for the information about escrow accounts. What I would like to know also is since they didn't pay off some of the things as promised actually not one thing on the HUD's matched the checks that I got after the closing. That amount would have been thousands, does the AE keep pocket the money or does ameriquest get that money? Thanks for taking the time to reply.
Bill & Ted
Orange,#12Consumer Comment
Sat, August 05, 2006
Sorry about the lame thing I figured that I would never get an answer, thanks for the information about escrow accounts. What I would like to know also is since they didn't pay off some of the things as promised actually not one thing on the HUD's matched the checks that I got after the closing. That amount would have been thousands, does the AE keep pocket the money or does ameriquest get that money? Thanks for taking the time to reply.
Rex
Campbell,#13Author of original report
Fri, August 04, 2006
Bill & Ted, which one are you? I think it's lame that you hide behind the names of two characters in a film from the 80s. We're all lame? Who are the "you guys" you're addressing? We're lame because we didn't immediately reply? What if one of us was awaiting a reply from a source and wanted to provide you with accurate information instead of simply being the first to reply to your inquiry? I haven't received the reply to my info search for your questions. Since you're such a nice pair of guys, I will stoke the fire with the following. _______ Regarding escrow accounts : They were optional while I was employed by Ameriquest. In the real world, they are a huge moneymaker and there is often a "profit sharing incentive" for a borrower to have an escrow account on their new loan or refinanced loan. When you have an escrow account on your mortgage, you receive some small amount of interest during the time those funds are being invested and receiving a higher amount of interest for those who do the investing. Here's the big picture behind the scenes. When loans are bought or when loans are made available to investors, those loans with escrow accounts fetch a slightly higher return (partially because they are statistically less likely to default).
Bill & Ted
Orange,#14Consumer Comment
Fri, August 04, 2006
That's just like someone that's work for ameriquest, no answers. You guys are lame! Go get a real job that doesnt hurt people.
Bill & Ted
Orange,#15Consumer Comment
Thu, August 03, 2006
Questions I hope this gets posted I have asked this or tried to ask but it didn't get posted. Where does the money go that the borrower never got? what's with the escrow accounts, were you guys told to make sure the borrower opens one. they didn't pay off a few things during the funding of the mortgage, like my truck over 2,000 thousand dollars- didn't pay the taxes or insurance, that's 1,000, charged points over 2,000 to bring down the interest rate, I didn't know I paid that till their lawyer sent me part of the file, witch included many unsigned doc's the tila was not signed and a lot of the other doc's were not signed. Did they fire the guy that does all forging? lol Does anyone know anything about forced placed insurance? Thanks for all the help and information.