Ameriquest Mortgage ripoff Ex Ameriquest Employee talks about how we ripped people off Saint Petersburg Florida

I am a former employee and witnessed everything you witnessed in my branch.

You must visit your local DA office and report what you have seen. An FBI agent will probably sit in with you when you speak with the DA.

Ameriquest is doing this all over the country and will continue unless employees with intergity fight back.

Once again, I challange you to take action. Things will not change unless we take action.

I was a vendor for the st pete branch. I witnessed forgery (income and mortgage verification docs) was asked to notarize documents without precesnce, forge quit claim deeds, and generally 'sell" their deal and slamm these poor borrowers. i bailed and am happy to say that there are many who became whores for the almighty ameriquest dollar. Val, Sabrina, Leah, Derbes, Mike, Serrano, frye etc. my hats off to you! I hope they screw you for every dime they owe you! We got out in time!

To all the poor broke borrowers; feel better knowing they even screw and BS their vendors to the point of bankruptcy.

The newest Btanch manager of St Pete is TODD ZELCHER. STAY CLEAR! Since Ryan took the fall from grace, Adam is now where to be found, (they have him locked away in miami in training seminars")and mariano is BSing everyone that they owe $$ to when he should be listening up!

They will get theirs , our lawsuit is only days away, we have sooo much on them. Any one that closed a loan with ST pete in the past 2 years, i am ready willing and able to share documentation on changed HUDS, forged docs, etc...

Just for the record I would like to make it known on one of the points that were made...If Ameriquest is allowing their mortgage's to be recorded for less than actual value, that really hurts them, not helps them...ie, a $200,000 mortgage that is recorded at the courthouse at only $60,000 would leave them short $140,000 if they ever went to forclosure, making an extra $1,000.00 on the front end just doesn't make sense, and fyi, on purchases, they use the deed to calulate transfer tax, not the mortgage...I seriously doubt that happens, and it makes me question if you are just a disgruntled former employee that was perhaps fired...and for the record these are NOT unique situations in the mortgage industry, I've worked as a loan officer for other companies and they pull the same tricks...its called subprime lending folks, it's dirty and it always will be...and I've also worked at title companies and I am well aware of the fact that NO lender is going to have a mortgage recorded for less than it's acual value...as far as AVM's are concerned, it's an industry accepted standard...the bottom line is, all loans are subject to being sold, as long as wall street will continue to purchase these loans, there will always be a company to originate them, be it Ameriquest or some other lending giant.

I CURRENTLY WORK FOR AMERIQUEST, AND I HAVE "BLOWN THE WHISTLE" ON THIS IN CALIFORNIA. I HAVE GOTTEN NOTHING FROM HUMAN RESOURCES, BUT A BUNCH OF TROUBLE AND LIES, AND NOW AMERIQUEST IS RETALIATING AGAINST ME, AND TRYING TO GET ME TO LEAVE.

I HAVE MANAGED AT AMERIQUEST FOR 2 YRS I HAVE WORKED THERE FOR 4 YRS..RECENTLY WE HAVE HAD SEVERAL EMPLOYEES TRANSFER TO CALIFORNIA FROM FLORIDA TO MANAGE AND "INCREASE OUR PRODUCTION" ON THE WEST COAST.

I HAVE FIRST HAND KNOWLEDGE OF FRAUD, I HAVE PLENTY OF EVIDENCE AND PROOF OF ALL THE SAME THINGS THESE PREVIOUS EMAILS HAVE STATED. H/R AND UPPER MANAGEMENT ARE HARRASSING ME, AND TRYING TO ANNOY ME UNTIL I RESIGN.

I WAS JUST TRYING TO DO THE RIGHT THING, AND GET AWAY FROM THIS CRAZY MANAGER, AND LET THE COMPANY KNOW THEY MIGHT WANT TO LOOK INTO THEIR BUSINESS IN CALIFORNIA.

I HAVE NOW GONE TO THE DA IN MY COUNTY, AND HAVE SENT LETTERS TO THE DA IN ALL THE COUNTIES I KNOW ARE BOOKING FRAUDULENT DEALS, AND I HAVE A SMOKING GUN TO PROVE IT ALL. MY ATTORNEY IS FOAMING AT THE MOUTH.

I WAS NOT TRYING TO START A LAWSUIT, I WAS SIMPLY DOING WHAT I FELT WAS RIGHT, IN A SITUATION THAT IS SO WRONG, AND NOW AMERIQUEST IS TRYING GET RID OF ME, AND I HAVE BEEN FORCED TO GET AN ATTORNEY FOR MY OWN PROTECTION, IF ANYONE ELSE ACROSS THE COUNTRY HAS ANY INFO. YOU MAY CONTACT ME OR MY ATTORNEY. I KNOW THIS IS HAPPENING ACROSS THE COUNTRY. AND I KNOW AMERIQUEST WILL PROBABLY FIRE ME NOW FOR SOMETHING STUPID. "AT WILL" EMPLOYMENT GO FIGURE? BUT AMERIQUEST IS GETTING TOO BIG...THE WRONG WAY...AND THEY ARE TRYING TO GO PUBLIC...YEAH RIGHT!!! WHO'S GOING TO UNDERWRITE THAT STOCK??

THEIR CEO OF 14 YRS JUST "RESIGNED" THIS COMPANY IS A BUNCH OF SMOKE AND MIRRORS, AND NOW THEY ARE SCRAMBLING TO CLEAN IT ALL UP.

WE ARE ENCOURAGED TO HIRE SALES REPS WITH NO MTG EXPERIENCE, SO THEY DON'T KNOW WHAT THEY ARE DOING, SO THEY DON'T KNOW THE LAWS. AND THEIR HR REPS DON'T KNOW WHAT THE HELL THEY ARE TALKING ABOUT EITHER...

I HAVE WORKED MY TAIL OFF FOR THIS COMPANY FOR 4 YEARS PUTTING IN 80 HOUR WEEKS..AND I HAVE DONE VERY WELL, BUT I HAVE ALWAYS KEPT THE RULES, AND HAVE NEVER VIOLATED ANY LAWS....IT AMAZES ME THAT THEIR MISSION STATEMENT IS "DO THE RIGHT THING" AMERIQUEST IN GOING TO BE IN A HUGE MESS IF THEY DON'T GET RID OF THESE DIRT BAGS IN UPPER MANAGEMENT.

GETTING PAID MILLIONS TO RUN A BIG SCAM.

Ladies and Gentleman of these juries who claim to have all of these "fraudulant claims & insider Info". Welcome to the world of free speech. Just a tid bit to shed light on these dilemas. NOTICE "If inteligent" Prior to acceptance of service,Terms and conditions of service, & my favorite "Fine Print/legal docs."

In any business in any state of the good ole' USA. We will find as the general public. A biased opinion of any and all company practices. Some people will tend to forget that companies are built on profit and not a "give away principal" IE. State Lottery: People who puchase tickets based on the "idea" of winning exclude the true principal laws of probability and risk. Some buy one ticket while other purchase several. Do we all have the broad and general knowledge of "odds" or likelihood of our own winning the suggested sum? NO! Do we have a general idea of what options or taxes are set up for us if ones number should ever hit exact? NO! Do we even know the true entity in which handles and distibutes the divisible increments of pre- and post taxable dollars taken in before, during and after a draw of lottery. NO! Back to the basics if you stop crying and insisting their is a corruption then deny for a moment your available goverment dollar that incorporates and lends funds for such companies such as Ameriquest can start an American principal that we pay daily,weekly,monthly and yearly. the right to continue in it's practices but start no mentioned melitia/lawsuit against this existing freight train. Deliver me a man who has not Greed but a man who sins, and I will do business. Advise for anyone who worked or got worked by Ameriquest. "To have been blind and then given the option to see may or may not be a blessing" You decide people should read and people should know that there is no "free" there is no "getting the best deal" In honesty with a clear and cool mind every person should be aware that they have to read and investigate everything to the fullest. Next time your at the gas pum and you think your paying 1.09 for gas check out the fraction that follows after the 1.09 some people just don't take the time. Employees know the motto "Do Te Right Thing" So in it itself lists your choice.

seeing is not believeing, believing is just a choice! It applies to everything.

Ken, take 30 seconds and distance yourself from Aristotle and the cosmos, buddy everything you just said makes zero sense

We're talking about a company that now only lures people in as consumers, but employees as well.

When a person makes a choice to work for Ameriquest, just like the borrowers, they are promised the moon and stars, and end up in hell.

When I went to work for Ameriquest, I was told about opportunity, benefits and good pay. Once I took the bait, my family relied on me to bring in a paycheck, and relied on the benefits. In order to pay my bills while I looked for something else, I was forced by management to commit fraud.

No fraud? No job

Adam Rothman made it VERY clear when he said "Look around you, there are people in your office who are booking 20+ loans a month. My suggestion to you is to start doing what they are doing, or look for a new job"

What most employees found out was that it not a level playing field. those who worked hard and made honest money were the FIRST to be fired, because someone committing fraud and lying to borrowers will ALWAYS book more loans in the short term than someone who is honest.

Ameriquest has turned over more employees than ANY other mortgage company in the US hands down.

The average life expectancy of an Ameriquest employee is 4 months.

You're pompus argument about "choice" shows how a heartless person like yourself can justify in your mind ripping people off. You're whole statement says one thing-

"If I rip someone off, it was their fault for trusting me."

Unfortunately, there is a thing called trust, where someone trusts you as a mortgage professional to help them get into a better position. That doesnt come with side stepping, dodging, and sucker punching at the table.

Luckily, I was one of the employees who lasted longer than almost anyone else. And I did things ethically, which is why I lost my job there.

I got three words for you "Ken"

LOS ANGELES TIMES

check the article that just got written in LA TIMES about this company

I hope that what your saying isnt true. As for some of the crazy things like mortgages getting reported for less than they are, double charging appraisals, and blatant fraud.....sounds more like you couldnt handle the job and are upset with the company for letting you go. I have been in this industry for 5 years and Ameriquest is definatly stressful and very fast paced. But with that also comes the opportunity to make very good money. This job is not for everyone, if it was everyone would do it.

I have NEVER seen anything like what you are saying happen in my branch. Nor would anyone ever dream about doing anything like that. If what you say is true than it sounds like some people just got greedy. As for the salaries you described, Ameriquest is a small base salary plus commissions. AE's get 25g base and then the rest is commissioned. Same goes for the managers. Its all a base plus commission. So basically you paid on what you do. Basically what your saying is that you couldnt originate loans without committing fraud, sounds like this just isnt the job for you.

As a former employee of Ameriquest, I find this site very interesting and extremely truthful. I was pretty high up in the organization. As such, I was the one that people sent "fraud" issues to. I still have those files in my garage right now. I don't have all of them, but I have a few that were handed to my by the corporate funding department to bring back to the branches and teach people what to look for and what they did wrong.

For those of you who don't want to believe that it's going on...I was one of you. I was blissfully happy there for 3 years until it all fell apart and things started to not make sense. Here are some examples of what I mean:

1. the area manager in Arizona is paying for the insurance for his notary company from Maryland to do signings in Arizona (major conflict of interest) and is receiving kickbacks from it

2. any employee who wants to "do the right thing" gets forced out...I did right when I started to tell people that they couldn't do things

3. more "purchase" loans are done under the guise of being a re-fi...they make up a private party mortgage and get someone to fill out the verification, but they have NO vested interest in the property

4. I've seen appraisals over-inflated by well over $20,000...my own mother took an interest only loan and her appraisal was pushed up by $10K when the value of her property has actually gone down by the estimates of Shelby County, Tennessee

5. again, my own mother with her interest only loan was LIED to by the loan officer and wasn't given all the facts...her payment has doubled in under a year

6. there are title companies in Colorado, Maryland and I'm sure other states who will change vesting and remove liens on titles because the branch managers need them to for the loan to go...I have a couple of those files in the garage, too

7. and the age thing...PLEASE and THANK YOU!!!! I can't tell you how many times I'd seen the wrong age put on there just so they could give them a higher rate and a pre-pay...then I saw the copy of the ID that the notary brought back and I had to change it and take off the pre-pay per funding and that dropped their revenue...the almighty revenue

8. we also can't forget the fact that most of the time the branches have things like notary fees on the HUD when they close so the notary company can see it there, but the notary companies never get paid...the fee is taken off the HUD before the loan funds and notary company has to wait over a year to get paid. I personally put through and got approved over $25,000 in past due invoices for 3 different notary signing companies before I left so they would get paid for signings that took place 2 years before. Get a copy of the pre-audit and the final audit and compare the two...that's where most of the problems are

9. one of the most popular things I saw was making a property a single family residence (SFR) instead of a manufactured/mobile home just to give them a higher loan amount, more points, more fees and higher revenue (noticing a pattern)...then when we did some digging and found out that it was a manu/mobile, it ruined the loan...they'd get the title and appraisal companies in on it, too, so it would appraise as an SFR and the title company would remove the affidavit of affixture...the "house" would be moved off the property after the customer went into default and they couldn't foreclose...it was gone

10. STATED loans...I was so often told as a processor that I had to tell the AE how much the customer had to make to have the loan work...how bogus is that...and the jobs were mostly made up (consultant...pick a category) and anything that didn't require a license

So, as you can see, there are plenty of examples that I know of. I saw people ripping customers off every day and it was encouraged. As a processor, they never allowed us in the daily meetings because we were the ones who were telling them what they could and couldn't get away with. I saw insurance policies changed to give the customer vested interest or make it an owner occupied property. Unfortunately, I am not allowed to go to a lawyer thanks to an agreement I had to sign to take a severance package. It's totally bogus, but you all need to know what you're getting yourselves into if you call them. I feel badly that I can't do more, but I wanted to do what I could to bring a few things to light. It's time for things to change and they need to stop ripping people off. I'm sure that they could be a solid lender if they would actually do things the right way not the way they currently do business.

And to those of you who think this may just be another "disgruntled former employee"...guess again. I was a processor...processors know everything that goes on in the branches and we see everything that goes on in the branches. And besides that...I left months ago and waited for the boiling blood to settle down a bit before writing anything.

Former (thankfully) Processor

to all viewers , please go to msfraud.org
i have posted several writings about ameriquest and my e-mail can be given out for you to comment and surely write to me .

i look forward to all ex-employees who have witnessed fraud at high levels, especially lee from arizona, i currently have incriminating documents from ameriquest and my story will be published in the news paper here in the next couple of days

also , the la times published another story in todays paper out in L.A. go to la times .com
look for : probe of ameriquest sought in P.A.

i look to hear from you

I worked for the Ameriquest branch in Timonium, Maryland for 3 months. Mariano was our regional manager here at the time I was employed. Our branch was undergoing transition but during the time I was there I saw nothing untoward or unethical in business practice.

Ameriquest is a competitor now and I have no reason to care about complaints directed at them but the people I worked for and with were and still are quality people. The loans I originated helped people/not hindered them and often my manager went out of his way to make the loan program better for my borrowers.

We were trained and required to obtain continuing education and our appraisals could be ordered from anyone we wished. Title company choice was offered to the borrower if they had a preference.

Our branch did it the right way - at least during the time I was there. I believe they ran like any other mortgage company no better/no worse.

The reason I left the company was I wanted better compensation. That was it.

Graham/Maryland

From the L.A. Times...

"The Orange County-based company also said it had agreed to pay up to $50 million to settle a class-action lawsuit that alleges it defrauded thousands of borrowers in four states, including California."

First off let me say that don't believe everything you read on the internet.. especially what comes out of the mouths of an ex-employee from ANY company.

I currently work for AMC and can personally refute many of the claims made by the author of this report.

Appraisers - AMC can use any appraiser in the United States, if the appraiser is not listed in our system, it is a simple and commonly used task to "add" them to the system so that you may use them. the various levels of classification are a result of those appraisers who have chosen to take the necessary steps to "permanently" add themselves to our system.

Title Companies - AMC can use ANY title company in the US, again if a Title company is not listed in our system - it is a simple task to get them added. And the notion that AMC has a hand in recording fradulent mortgages is ridiculous... the Title company is a sole and separate entity and is individually resposnible for any wrong doing.

This EX- Associate obviously had no clue about the underwriting guidelines here at AMC - our 2/28 ARM programs are capped at 2% on the anniversary date, not 3% as erroneously reported in this report. (no wonder he doesn't work here anymore).

Finally, AMC does not lend more than 90% of the apprasied value of the home to guard against over-inflated property value - hellping to curb people from borrowing themselves in excess.

In conclusion I would like to say that in any company in any industry - there are instances where people make poor choices individually. For them to point the finger at a corporation for there failure or shortcomings is not only irresposnible but also shows their inability to take responsibility for their actions. Good luck in the REAL world.....

Ryan,

You said:

"Finally, AMC does not lend more than 90% of the apprasied value of the home to guard against over-inflated property value - hellping to curb people from borrowing themselves in excess."

Then how come when my house appraised at $225,000 they funded me for $213,750? According to my math, that works out to 95% LTV.

I did my refi in January through a 3rd party broker. It initially came through as Argent being the lender. Not until the day of closing did I find out that Argent was the same as Ameriquest, and I was too far into the refi to back out. Had I known prior that Argent and AMC were the same, I would have told my broker to keep looking. I probably got royally screwed on closing costs from what I have read on this site, and will be having an independent accountant review the paperwork.

I'm an ex-employee.

I worked for Ameriquest 4 years.
I was a loan officer and a branch manager.

I can tell you this much:

There's good people and bad people no matter where you go. Whether it's Ameriquest or Publix or Jiffy Lube.

If you take a look at the rip off report for any other mortgage company you'll see the same type of replies. Getting ripped off? C'mmon, you'll get ripped off buying a car at Maroone? I'm a consumer too, but, guess what? I'm going to "shop" before I sign ANY dotted lines. I'm also going to READ what I sign.

So, let's not get crazy here...

In my time there I met good people who did things right and bad people who got by on doing things the wrong way--and even promoted on many occassions.

Any illegal behaviors were a result of pooor management. I think the main area Ameriquest needs to step back and rethink is how they select their management team. How they hire and fire their leaders is Ameriquest's main drawback. If they had put the right leaders in place from the start, these issues would take care of themselves.

Again, as far as the "illegal activity" and "forging" of documents.. and misleading customers, I only blame Ameriquest insofar as their weak decision making on who they put in charge and the loan officers hired. Again, people are the issue not the company.

There was a hair in my soup when I went to Applebee's the other day. I'm pretty sure it's not company policy to do this nor are they trained to put hair in my soup.

Aside from that it is NOT their policy to deceive or "trick" anyone or forge anything... In the 4 years I was there, I in fact witnessed a lot of reform in their training programs and hiring practices when it came to Loan Officers. However, management was a flavor of the day situation.

There's no real structure on who's promoted or demoted. Except for what their number was last month, nevermind how they booked that number. Therefore, poor leaders are placed in these positions who are lead by worse leaders and as a result you have some of the complaints mentioned before.

Aside from that, it's not the company's AGENDA to train people on getting things done in a shady - manner. There are only shady people. But, guess what? There's shady people in governement, there's shady people when you do your taxes, and there's shady people at any other mortgage company you can name...

Ryan Huckstep is a good guy.. who probably either A. Just got caught up in the "fame" of being #1 and didn't think before he booked a loan.
B. Booked so many goddamn loans that he didn't follow-up and ensure things were being done correctly by his staff...

He actually did do a lot of good things.. I'm sure turning his cheek the other way is what caught up with him. That and the he kind of dressed funny... so did his staff.

In my time there--I can think of those that did a lot worse and are still there in high levels of management.

That's my two cents... Now, go file a rip off report on Burger King or something. Stop being so freaking heart-broken that you got fired for doing something stupid..

Someone,

For all of you who have been ripped off by Ameriquest, I know EXACTLY what you are going through. To all of you who think, "Every company has its fair share of complaints," you are right...the only difference is, the complaints against Ameriquest are ALL true! If Ameriquest wasn't committing FRAUD, then why are there so many class actions popping up? If Ameriquest wasn't overappraising homes, then why is it that my house was appraised at 165,000, but yet, when I tried to sell it, a DIFFERENT appraisal came in at 161,000 two years after I refinanced?

Here are some quotes taken directly off of Ameriquest's website.

"We believe consumers should (1) receive clear and timely disclosures of the terms of a proposed loan and their options; (2) have adequate time to evaluate and negotiate those terms and;"

1-Most of us never received good faith estimates, we were told over the phone. AND were not even GIVEN the option to choose the ARM or not.

2-Ameriquest TELLS you you have 7 days to rescind, but you only have 3. Even if someone does get 7 days, they will not aknowledge your phone calls or letters...AND THAT IS THE TRUTH!

"REASONABLE POINTS AND FEES
Ameriquest does not originate loans defined as "high cost" under the Home Ownership and Equity Protection Act of 1994 (HOEPA) or state predatory lending laws. On average, our standard processing fees are less than 1% of the loan amount and we pass through third-party fees with no mark-up. Discount points are limited to a maximum of 5% of the loan amount, or the state limit, if lower."

Hmmmm...then why did I pay $6,000 in closing costs, not including the discount points, which were another $5,000? Why did I pay $150 for courier fees?

"While many loan servicers impose fees for routine transactions and services, we take a different approach. Our customers benefit from many free services, including:
Obtaining copies of loan documents
Generating and providing a payment history
Generating and providing a verification of mortgage
Initiating or cancelling an escrow account
Participating in an automatic recurring payment plan
Making a payment on our Web site even when a loan is past due
Faxing documents to customers"

These "loan documents" that they send you; it's only your HUD settlement. Try obtaining a copy of your appraisal and you'll get a letter stating that you are not allowed to show it to any 3rd party and if you do, you can be sued by Ameriquest. And if you want anything else mailed to you, GOOD LUCK! Because it WILL NOT happen.

All of these quotes were taken from Ameriquest's website, they are ALL LIES!

Current employees, say whatever you want about the company so that your can feel better about yourself, but in about 6 months, which is the average length of employement for an AE, you will be on this very board complaining about the company you blindly defended.

Argent is a wholesale mortgage company. They charge a flat fee of $550.00. Additionally there are two other fees collected by Argent, but paid to third party vendors for a flood certification and tax service fee. Have your lawyer review your HUD -- and you will see you were charged four fees from Argent. All other fees on your HUD were put there by the mortgage broker you chose and the title company/lawyer either he or you chose. The loan is then sold on the secondary market and Ameriquest retains servicing of it.

I currently have a mortgage (refinancing within the next few weeks now that my 3 yr prepayment penalty is up) with this jacked up ripoff company and I agree with everything the former employees and other who have been screwed over by them are saying. I have a 2 yr arm, 3 yr prepayment penalty, and pd 8k in closing costs. My appraisal was inflated but we worked our butts off to increase our property value so we could refinance.

Oh yes, Ameriquest told me not to worry about the appraisal. The guy told me that they would get whatever amt they needed. My interest rate has went up every time since the 2 yrs was up. We are up to 10.25%! Come on! Why are you people defending this crooked company?? When we had some trouble paying our mortgage beginning of last yr. and we called to work something out with them. They did not want to work with us at all! It was obvious they wanted our house!!!!! Maybe you should go get a mortgage with them and tell me you come out smelling like roses in the end!

So why again are they settling a lawsuit if they did nothing wrong????? Ya that doesn't even make sense. So maybe those employees defending the company are the ones screwing people like myself over, and winning big prizes. I wouldn't want the secret out either if I were them! Just a thought!

Read the posting "The Sinking of Ameriquest" in the thread above. Go there and you can contact Tim. He has posted and I have already emailed him. Ask him to please give you my information, I need to talk to you asap.

I left AMC on my own terms after enduring a lot of BS and learning that there was a bigger & better opportunity for my career outside that company.

Ameriquest, and every other sales organization, pays their employees by commission. Those figures are nearly accurate, but are not applicable across the board, for everyone who held those titles. There's no flat pay schedule. Only ranges.

It's very irresponsible for "RG" to post data here as if it were fact.

I saw many AEs who quit when they weren't making enough money. I saw AEs promoted to Branch Mgr. who quit or were fired after their income decreased. Some Branch Mgr.s couldn't make as much as when they were AEs.

The best salesperson does NOT make the best sales manager. Many times, it appeared as if people were being promoted to failure on purpose. To get them out the door. Instead of firing, they promoted, knowing that individual could never make it. Then, they were fired. Everyone who hired on "at will" was gone in a heartbeat.

Where I worked, appraisers did not inflate home values to get people stuck in their homes/loans. We did not. I cannot imagine people I worked with trying to make somebody upside down in their home loan. In one case, specifically, I recall that in two months, the home values had increased here so that we DID have an additional $10,000 in value and had the appraisal re-certified to meet the borrower's goals.

I'm not saying that they didn't do shady things elsewhere within Ameriquest. I am simply stating that for our posts on this forum to be understood as fact, they need to be accurate. So: Not every branch / not every AE / operated the same way during every period of employment.

Low risk loans at AMC were signed without appraisals because an AVM was used to determine the home's value. 3 days or 7 days, it doesn't matter. The 7-day recission period came about after many previous Section 32 violations and AMC "adopted" this policy. The AVMs that I saw were very conservative. Sure, things change, and maybe this wasn't the case when "RG" was there.

If you're going to report the crap that AMC and employees were doing, it should be factual. That's the only thing that helps people reading this forum.

I don't doubt all of the scams that "RG" mentions here, but I would guess that the Appraiser would not kickback the entire 2nd appraisal fee to the Branch Mgr. I would guess that they split that profit. Otherwise, what incentive is there for the Aprraiser?

The Prepayment penalty is 6 months of interest, not 6 monthly payments. There's a difference.

He's right about this: Boiler Room and Glen Garry Glen Ross were suggested as training tapes when I hired on.

Everything I have read so far has happened to me. I refinanced in 2003 and thought I had someone from Ameriquest investigating my problems. Now after 3 years of going back and forth with them, I got notified that as of May 2, 2006, my new Mortgage Co is Litton. This week I received notice from sheriff that I am being foreclosed on by Ameriquest who has sold my mortgage last month and the sale date on notice is the end of this month. After looking up sale date at sheriffs office, they have it scheduled for end of October. How can they foreclose when they don't own the mortgage anymore??? The only reason they sold our mortgage was because they new I have proof of the fraud. The first year of dealing with the problems with Ameriquest, I have over 50 e-mails that I had sent to them with NO response what so ever.

How do I go about finding a good attorney to help with the fraud and the so called foreclosure? Any information would be greatly appreciated.

Something must be done. I can't beleive that they are getting away with doing this.

I live in Iowa and was working with the branch office in Omaha NE.

After the 5th unanswered email message, you should consider sending correspondence by US Post, with return receipt requested on the certified mail.

People hide behind voicemail and email.

You can take your federal mail documents to court to support your case.

~ Rex

So what about the money that the borrower never got who gets that money? Ameriquest or the dumb a** broker?