Ameriquest Mortgage, Ameriquest Capital Corp. Town & Country Mortgage, Argent Mortgage Company. THE CYCLE CONTINUES AT AMERIQUEST; FRAUD, DRUGS, HARRASSMENT, AND HUSH MONEY. ADAM REPLACED BY FRANK CORTINAS? HAH! THEY COULD BE EVIL TWINS, BUT FRANK IS TOO SHORT. Orange California

Author Comment
shellbell Today at 01:44 PM

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Hello
Received the settlement amount for the class action suit in Ohio. Oh boy........$484.00
could be more, but that is the minimum amount for the damages. It makes me sick. Does anyone know of an attorney in Ohio that is willing to take on these cases instead of participating in the class action suit?
I've had HUD look at my mortgage agreement. They charged me 13% on closing fees. It's over the legal limit. HUD suggested finding a private attorney. Can't find one that handles mortgage fraud. Live in Trumbull County. Thanks for any suggestions! Shell


O - Today at 02:50 PM

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We get a whole 212,98 here in Florida.


Still Fighting Today at 04:11 PM

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$600.00 here in Illinois! Woo h*o! What a slap in the face for all the crap they put me through!


Tricci Today at 04:40 PM

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$600 here in Minnesota. Whew hew! Only $12,400 more to go to repay me for my bogus closing costs!


arkygirl Today at 06:53 PM

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Just curious...what did the lawyers/law firms make for this case?

Find that out and you may be shocked. Class actions exist to enrich attorneys, NOT to make injured parties whole. IMHO, they are a supremely bad idea concocted by the system to enrich itself.


CK Today at 07:35 PM

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312.00 here in Missouri, I have a private case, have to check with my lawyer, if I have to send this in my case was sent to Chicago, Does any one know how the Chicago Courts work, when they lump them all together?


4 justice now Today at 07:53 PM

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Arkygirl:

As usual you are spot on. I have been trying to find an exception to this rule but so far I haven't found a single case. It's simply amazing... it's next to impossible to find an attorney that is willing and able to take on these scumbag thieves other than on a class basis.

It's beyond insane... The average class member may have been defrauded out of tens of thousands of dollars or even more and then, only receive a few hundred dollars as a settlement. Where's the value in that relationship? They could have received a more equable judgment simply going to their local small claims court with no attorney.

Join a class action to obtain less, wait longer, lose your rights, and let the thieves go free with a clean record just so that they may start the whole scam over again?

Hmmm... What a great system we have going here.

But that's my opinion.

4J


O - Today at 08:54 PM

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I'm sending mine to Tom Miller and telling to nicely stick IT! Hi TOM...


Under Dog Today at 09:26 PM

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Predatory Lending Suit Settlement in Tennessee
WRCB-TV
[[[[[[[[[[[[[[[[[[[[[
This was pulled from the mortgage servicing fruad forum.

Thanks and enjoy you ride!

From the LA Times...


Lawsuit targeting Ameriquest adds Arnall to its sights

Lawyers have asked to add Roland Arnall as a defendant, saying he had a hand in abuses at the sub-prime lender.

By E. Scott Reckard, Times Staff Writer
June 19, 2007


Ameriquest Mortgage Co. founder Roland Arnall seemed to have shrugged off complaints of lending abuses early last year, when the sub-prime lender agreed to pay $325 million to settle allegations by 49 states of misrepresented loan terms, hidden fees, puffed-up appraisals and fabricated borrower income statements.

The Los Angeles billionaire blamed rogue employees for the problems. Consumer activists said a promised overhaul of operations at the Orange-based company would set high standards for the sub-prime industry, which caters to borrowers with poor credit, heavy debts or no money for down payments.

Arnall, whose confirmation as U.S. ambassador to the Netherlands had been held up because of the litigation, won the Senate's endorsement for the diplomatic post soon after the settlement was reached.

But on Monday, Arnall's accountability was again front and center as attorneys for Ameriquest customers asked a judge to add him as a defendant in a private lawsuit.

In a request filed in federal court in Chicago, lawyers for the borrowers, who are seeking to combine 20 suits into one class action, contend that Arnall made decisions that resulted in abuses, blocked attempts to reform Ameriquest and drained it of its profit before virtually shutting it down as the sub-prime industry imploded.

Ameriquest and its affiliates "were the alter ego" of Arnall, the suit says. "Assets of the Ameriquest entities were transferred to Arnall with the actual intent to hinder, delay or defraud the plaintiffs in this action."

In an e-mailed statement, Lisa Cohen, a spokeswoman for Arnall, said he had "stepped down from the company's board almost two years ago far in advance of the meltdown of the non-prime industry and at a time when the company was profitable and financially stable."

She added that lawyers for the plaintiffs were "trying to generate interest in their case by tarnishing the ambassador."

A spokesman for Ameriquest declined to comment.

The motion to add Arnall as a defendant is to be heard June 26 by U.S. District Judge Marvin E. Aspen in Chicago.

The current defendants are Ameriquest, parent company ACC Capital Holdings Corp. and various subsidiaries, affiliates and agents.

Ameriquest's $325-million settlement with the states was the second-largest ever in a predatory lending case. The largest was by Household International, which settled for $484 million with 50 states in 2002.

But private attorneys say that many Ameriquest customers would recover more by declining to join in the settlement with the states and instead taking part in the private litigation.

In most cases, the settlement with the states would result in awards amounting to hundreds of dollars for each borrower, though their actual damages often ran into the tens of thousands of dollars each, said attorney Gary Klein of Boston, one of the lead lawyers in the private lawsuits.

Klein said the plaintiffs would seek billions of dollars in damages, including punitive damages and treble damages under many state laws for "bait and switch" tactics.

Ameriquest, which in its glory days sponsored Major League Baseball, the Super Bowl XXXIX halftime show and a Rolling Stones tour, was ranked the country's top sub-prime lender in 2004 and 2005. But the Ameriquest companies fell from the top 10 among sub-prime lenders in the third quarter last year, according to National Mortgage News.

Ameriquest Mortgage last year shut down 270 offices around the country and this March shuttered six operational offices, leaving only a small staff working at the headquarters in Orange.

Arnall remains the majority owner of Ameriquest and its affiliates. When he became ambassador, he was required to give up a role in running the company.

The plaintiffs' filing Monday cites allegations in an Orange County Superior Court lawsuit in which Wayne A. Lee, a longtime executive for Arnall, accuses the billionaire of thwarting Lee's efforts to reform the company's sales practices.

Lee's lawsuit names the company as a defendant but not Arnall. It claims that Ameriquest reneged on a deal to pay him $30 million after he left in frustration in 2005.

An attorney for the company has called Lee's suit "a ridiculous work of fiction" and has said Lee is "attempting to use baseless and inflammatory allegations to extract money to which he is not entitled."


---------

Let's see how this go's :)

From the LA Times...


Lawsuit targeting Ameriquest adds Arnall to its sights

Lawyers have asked to add Roland Arnall as a defendant, saying he had a hand in abuses at the sub-prime lender.

By E. Scott Reckard, Times Staff Writer
June 19, 2007


Ameriquest Mortgage Co. founder Roland Arnall seemed to have shrugged off complaints of lending abuses early last year, when the sub-prime lender agreed to pay $325 million to settle allegations by 49 states of misrepresented loan terms, hidden fees, puffed-up appraisals and fabricated borrower income statements.

The Los Angeles billionaire blamed rogue employees for the problems. Consumer activists said a promised overhaul of operations at the Orange-based company would set high standards for the sub-prime industry, which caters to borrowers with poor credit, heavy debts or no money for down payments.

Arnall, whose confirmation as U.S. ambassador to the Netherlands had been held up because of the litigation, won the Senate's endorsement for the diplomatic post soon after the settlement was reached.

But on Monday, Arnall's accountability was again front and center as attorneys for Ameriquest customers asked a judge to add him as a defendant in a private lawsuit.

In a request filed in federal court in Chicago, lawyers for the borrowers, who are seeking to combine 20 suits into one class action, contend that Arnall made decisions that resulted in abuses, blocked attempts to reform Ameriquest and drained it of its profit before virtually shutting it down as the sub-prime industry imploded.

Ameriquest and its affiliates "were the alter ego" of Arnall, the suit says. "Assets of the Ameriquest entities were transferred to Arnall with the actual intent to hinder, delay or defraud the plaintiffs in this action."

In an e-mailed statement, Lisa Cohen, a spokeswoman for Arnall, said he had "stepped down from the company's board almost two years ago far in advance of the meltdown of the non-prime industry and at a time when the company was profitable and financially stable."

She added that lawyers for the plaintiffs were "trying to generate interest in their case by tarnishing the ambassador."

A spokesman for Ameriquest declined to comment.

The motion to add Arnall as a defendant is to be heard June 26 by U.S. District Judge Marvin E. Aspen in Chicago.

The current defendants are Ameriquest, parent company ACC Capital Holdings Corp. and various subsidiaries, affiliates and agents.

Ameriquest's $325-million settlement with the states was the second-largest ever in a predatory lending case. The largest was by Household International, which settled for $484 million with 50 states in 2002.

But private attorneys say that many Ameriquest customers would recover more by declining to join in the settlement with the states and instead taking part in the private litigation.

In most cases, the settlement with the states would result in awards amounting to hundreds of dollars for each borrower, though their actual damages often ran into the tens of thousands of dollars each, said attorney Gary Klein of Boston, one of the lead lawyers in the private lawsuits.

Klein said the plaintiffs would seek billions of dollars in damages, including punitive damages and treble damages under many state laws for "bait and switch" tactics.

Ameriquest, which in its glory days sponsored Major League Baseball, the Super Bowl XXXIX halftime show and a Rolling Stones tour, was ranked the country's top sub-prime lender in 2004 and 2005. But the Ameriquest companies fell from the top 10 among sub-prime lenders in the third quarter last year, according to National Mortgage News.

Ameriquest Mortgage last year shut down 270 offices around the country and this March shuttered six operational offices, leaving only a small staff working at the headquarters in Orange.

Arnall remains the majority owner of Ameriquest and its affiliates. When he became ambassador, he was required to give up a role in running the company.

The plaintiffs' filing Monday cites allegations in an Orange County Superior Court lawsuit in which Wayne A. Lee, a longtime executive for Arnall, accuses the billionaire of thwarting Lee's efforts to reform the company's sales practices.

Lee's lawsuit names the company as a defendant but not Arnall. It claims that Ameriquest reneged on a deal to pay him $30 million after he left in frustration in 2005.

An attorney for the company has called Lee's suit "a ridiculous work of fiction" and has said Lee is "attempting to use baseless and inflammatory allegations to extract money to which he is not entitled."


---------

Let's see how this go's :)

From the LA Times...


Lawsuit targeting Ameriquest adds Arnall to its sights

Lawyers have asked to add Roland Arnall as a defendant, saying he had a hand in abuses at the sub-prime lender.

By E. Scott Reckard, Times Staff Writer
June 19, 2007


Ameriquest Mortgage Co. founder Roland Arnall seemed to have shrugged off complaints of lending abuses early last year, when the sub-prime lender agreed to pay $325 million to settle allegations by 49 states of misrepresented loan terms, hidden fees, puffed-up appraisals and fabricated borrower income statements.

The Los Angeles billionaire blamed rogue employees for the problems. Consumer activists said a promised overhaul of operations at the Orange-based company would set high standards for the sub-prime industry, which caters to borrowers with poor credit, heavy debts or no money for down payments.

Arnall, whose confirmation as U.S. ambassador to the Netherlands had been held up because of the litigation, won the Senate's endorsement for the diplomatic post soon after the settlement was reached.

But on Monday, Arnall's accountability was again front and center as attorneys for Ameriquest customers asked a judge to add him as a defendant in a private lawsuit.

In a request filed in federal court in Chicago, lawyers for the borrowers, who are seeking to combine 20 suits into one class action, contend that Arnall made decisions that resulted in abuses, blocked attempts to reform Ameriquest and drained it of its profit before virtually shutting it down as the sub-prime industry imploded.

Ameriquest and its affiliates "were the alter ego" of Arnall, the suit says. "Assets of the Ameriquest entities were transferred to Arnall with the actual intent to hinder, delay or defraud the plaintiffs in this action."

In an e-mailed statement, Lisa Cohen, a spokeswoman for Arnall, said he had "stepped down from the company's board almost two years ago far in advance of the meltdown of the non-prime industry and at a time when the company was profitable and financially stable."

She added that lawyers for the plaintiffs were "trying to generate interest in their case by tarnishing the ambassador."

A spokesman for Ameriquest declined to comment.

The motion to add Arnall as a defendant is to be heard June 26 by U.S. District Judge Marvin E. Aspen in Chicago.

The current defendants are Ameriquest, parent company ACC Capital Holdings Corp. and various subsidiaries, affiliates and agents.

Ameriquest's $325-million settlement with the states was the second-largest ever in a predatory lending case. The largest was by Household International, which settled for $484 million with 50 states in 2002.

But private attorneys say that many Ameriquest customers would recover more by declining to join in the settlement with the states and instead taking part in the private litigation.

In most cases, the settlement with the states would result in awards amounting to hundreds of dollars for each borrower, though their actual damages often ran into the tens of thousands of dollars each, said attorney Gary Klein of Boston, one of the lead lawyers in the private lawsuits.

Klein said the plaintiffs would seek billions of dollars in damages, including punitive damages and treble damages under many state laws for "bait and switch" tactics.

Ameriquest, which in its glory days sponsored Major League Baseball, the Super Bowl XXXIX halftime show and a Rolling Stones tour, was ranked the country's top sub-prime lender in 2004 and 2005. But the Ameriquest companies fell from the top 10 among sub-prime lenders in the third quarter last year, according to National Mortgage News.

Ameriquest Mortgage last year shut down 270 offices around the country and this March shuttered six operational offices, leaving only a small staff working at the headquarters in Orange.

Arnall remains the majority owner of Ameriquest and its affiliates. When he became ambassador, he was required to give up a role in running the company.

The plaintiffs' filing Monday cites allegations in an Orange County Superior Court lawsuit in which Wayne A. Lee, a longtime executive for Arnall, accuses the billionaire of thwarting Lee's efforts to reform the company's sales practices.

Lee's lawsuit names the company as a defendant but not Arnall. It claims that Ameriquest reneged on a deal to pay him $30 million after he left in frustration in 2005.

An attorney for the company has called Lee's suit "a ridiculous work of fiction" and has said Lee is "attempting to use baseless and inflammatory allegations to extract money to which he is not entitled."


---------

Let's see how this go's :)

Make certain the waters barely churned at a few Branches over the questionable use of narcotics. The "Tornado" is about to hit! Naming no branch, naming no employee's a closed office sweep has already been issued for 6 branches due to come within the next few weeks. Certain known employees with factual information on their use of Cocaine, GHB, and Marijuana have been reported to the Corporate and legal teams. a small in-house sweep was already performed in a few branches. Disgruntled Ex-employees gave wind of several other current employees with futher need of "surprise" investigation. If these sweeps prove use or documented association with any of the above named narcotics they will be arrested and terminated of their current position during a locked office "legal" K-9 testing/voluntary tests if one chooses against it willbe brought up for corporate and legal questioning. provided by state and local DEA officers to come before December 23rd 2004. For those of you who doubt or are involved please use common sense and check with your goverment "civilian publication" on rights and amendments for a "employee right of narcotic/felony involvement investigation act". Sorry google may not be sufficient!! You will need to either go to courthouse or check will a goverment seach data base using a statue and sec number! This is just a notice to everyone who may have involvment with past or current use/supply. Consider this a favor from a friend!!!

Make certain the waters barely churned at a few Branches over the questionable use of narcotics. The "Tornado" is about to hit! Naming no branch, naming no employee's a closed office sweep has already been issued for 6 branches due to come within the next few weeks. Certain known employees with factual information on their use of Cocaine, GHB, and Marijuana have been reported to the Corporate and legal teams. a small in-house sweep was already performed in a few branches. Disgruntled Ex-employees gave wind of several other current employees with futher need of "surprise" investigation. If these sweeps prove use or documented association with any of the above named narcotics they will be arrested and terminated of their current position during a locked office "legal" K-9 testing/voluntary tests if one chooses against it willbe brought up for corporate and legal questioning. provided by state and local DEA officers to come before December 23rd 2004. For those of you who doubt or are involved please use common sense and check with your goverment "civilian publication" on rights and amendments for a "employee right of narcotic/felony involvement investigation act". Sorry google may not be sufficient!! You will need to either go to courthouse or check will a goverment seach data base using a statue and sec number! This is just a notice to everyone who may have involvment with past or current use/supply. Consider this a favor from a friend!!!

Make certain the waters barely churned at a few Branches over the questionable use of narcotics. The "Tornado" is about to hit! Naming no branch, naming no employee's a closed office sweep has already been issued for 6 branches due to come within the next few weeks. Certain known employees with factual information on their use of Cocaine, GHB, and Marijuana have been reported to the Corporate and legal teams. a small in-house sweep was already performed in a few branches. Disgruntled Ex-employees gave wind of several other current employees with futher need of "surprise" investigation. If these sweeps prove use or documented association with any of the above named narcotics they will be arrested and terminated of their current position during a locked office "legal" K-9 testing/voluntary tests if one chooses against it willbe brought up for corporate and legal questioning. provided by state and local DEA officers to come before December 23rd 2004. For those of you who doubt or are involved please use common sense and check with your goverment "civilian publication" on rights and amendments for a "employee right of narcotic/felony involvement investigation act". Sorry google may not be sufficient!! You will need to either go to courthouse or check will a goverment seach data base using a statue and sec number! This is just a notice to everyone who may have involvment with past or current use/supply. Consider this a favor from a friend!!!

Make certain the waters barely churned at a few Branches over the questionable use of narcotics. The "Tornado" is about to hit! Naming no branch, naming no employee's a closed office sweep has already been issued for 6 branches due to come within the next few weeks. Certain known employees with factual information on their use of Cocaine, GHB, and Marijuana have been reported to the Corporate and legal teams. a small in-house sweep was already performed in a few branches. Disgruntled Ex-employees gave wind of several other current employees with futher need of "surprise" investigation. If these sweeps prove use or documented association with any of the above named narcotics they will be arrested and terminated of their current position during a locked office "legal" K-9 testing/voluntary tests if one chooses against it willbe brought up for corporate and legal questioning. provided by state and local DEA officers to come before December 23rd 2004. For those of you who doubt or are involved please use common sense and check with your goverment "civilian publication" on rights and amendments for a "employee right of narcotic/felony involvement investigation act". Sorry google may not be sufficient!! You will need to either go to courthouse or check will a goverment seach data base using a statue and sec number! This is just a notice to everyone who may have involvment with past or current use/supply. Consider this a favor from a friend!!!

I myself worked as an AE under Frank, and I witnessed on many occasions his drug use, and I even participated once in their activities.

One night after work, when we were leaving the office, Frank, myself, and 2 other AEs, Raul Gutierrez, and Eric Chan, and an ex AE Joe Diaz...we went out after work for drinks, which turned into a mess, with all of us doing coke with Frank, (who was my Area manager), and the other two were AEs in his Area too. From what I understand now, both of these other two AEs have been promoted as branch managers under Frank, both Eric Chan, and Raul Gutierrez.

I left the company after that, because Frank was always in our office, yelling at me, and often he was doing lines in the men's room with these two AEs in the middle of the work day!!

I did not want to work for a company who's upper management would participate in such behavior at all, but most disgusting to me was that he would involve his subordinates also. Frank was all about "making every loan work"....very shady, and he often gave me advice on what he would do on certain files to make them "work" Frank is an a*s, he is very unstable I would guess his dramatic mood swings were from his drug abuse. I just knew for myself I had to get away from that guy. I asked for a transfer to another office, but Frank denied it, so I resigned.

Take it from someone who knows, Ameriquest is Shady! And so are most of their managers. I have been so much happier since I left that place.