Does anyone have any experience with Ameriquest?

well, i must say, i've heard my friend, jack having a bitter experience with ameriquest. he refinanced with the company in 2005. he took out a new arm loan. the ameriquest people said their home was above $200,000 (i don't remember the exact figure though) and they could pay off their bills from the refinance if it was a cash-out. so, they went for it and was told that they could refinance in 2 years and get a fixed rate.

but after 1 and 1/2 years what my friend had to hear from ameriquest was their home had depreciated to only $100,000. how could a home depreciate in value in such a less time? ameriquest promised that they would no charge an appraisal fee but jack had to pay $430. the company also said they would not charge prepayment penalty for the refinance but later on it was found that wasn't true and the penalty could only be avoided had jack paid the loan in full.

finally jck could not refinance his home, neither could he do it with any other company. i met him last week and he was really disturbed. he said that the payments were due till november 2007. he will probably not be able to keep his home and is thinking of renting.

i could not help him out but hopefully this information will prevent others prior to making a deal with such a company. no doubt, they're a reputed one but you never know what's happening in depth.

I believe Ameriquest has gone out of business. Not exactly sure why they went out of business. I know their name was removed recently from a baseball stadium in Arlington, TX. They had a 30 year contract to advertise and it was cut short 27 years. Enough said.

"]I know their name was removed recently from a baseball stadium in Arlington, TX. They had a 30 year contract to advertise and it was cut short 27 years."
How come you know about that :shock:

They are not out of business, but they have drastically scaled down their product offerings. Unfortunately, they won't be able to help you with your purchase at this time. They currently offer refinance loans only.

They are not out of business, although they did sell their rights to the baseball stadium advertising back to the Rangers. They have significantly scaled back their product offerings, currently offering refinance loans only. Unfortunately, they would be of no help with your purchase transaction at this time.

well guys, my sister Shelly had a satisfying experience with Ameriquest. This is what she said:

"We refinanced our home with Ameriquest and received fine service from the loan officer who took care of every minute detail of our loan transaction. The loan officer was professional, yet he always out me and my husband at ease. If he could not provide us with answers to our questions, he mentioned it right there and always clarified it later on. He had the great quality of anticipating what we could think of and always told us about such things before we could actually ask him. We were well-informed at every step of the refinancing process either through phone or emails. So, far everything has turned out well.

I must say I heard a lot of things about this company but when you deal with good and responsible people, you are assured of getting the right service. There are several offices set up by the company and may be there are loan officers witrh the company who may not been providing the kind of service people expect which is why there can be complaints.

Ace, I feel you should go for it; at least meet the loan officer that the company assigns you with. Then if you feel comfortable dealing with the person, you may very well sign a deal with them. The Ameriquest loan officer helped us with a lot of details even after the refinance closing when we signed everything and received the check.

Our thanks and appreciation to the officer who made us feel comfortable while dealing with him."
I agree with Shelly; when a company sets up several offices, it may so happen that a certain loan officer may not be able to satisfy a customer but it doesn't mean that the entire company is not reliable.

Like I said, they simply don't offer purchase loans right now (try to select one on their website), but Shelley has a point. It is difficult to monitor so many loan officers in so many offices. This is exactly why they centralized their operations last year to just a handful of production centers. Now, they are better able to monitor quality.

I understand that they are very conservative with their appraisal as is Countrywide. A friend applied to Amerquest and was denied the amount requested.He had thought that the home would be worth more from what he paid five years ago. The value came in only $3,000 higher. He applied to a local lender and the appraisal came in $35,000 higher. He was not given the oppurtunity to see his appraisal through Amerquest.

Well guys, here my story with Ameriquest,

I had to pay off credit card bills, and though I could utlize my home equity. I approached Ameriquest and they could convince me to accept the offer. Trust me guys, dealing with them was like being a lamb who is led to be slaughtered.

Ameriquest knew I needed money for the bills and charged a big broker fees. Beware, this company has agencies of the name Town and Country Loan and others trying to find our victims like me for Ameriquest's business. And, you won't even realize that they are asking you for such a higher fee that too as broker fees.

The company charges a hefty penalty charge if you try to get out of the loan within a year. They will write up a new bigger mortgage and then sell the loan to the collect ion agency. So, you will owe more than what you were offered initially. They'll send you a check which you need paying but then it's the sum of the extra money and the loan you have been offered. And, you have to pay it all in 30 years – so you actually pay triple the principal. And guess what, I had to pay $8000 in closing costs. It was only later on that I came to know from one of my friends that I could have got the same loan from a credit union for $15000 closing costs and that too with no broker fee

Hey Ameriquest AMC Argent Mortgage Company there the same Companys. These companys just got sue for a lots of money
Please help put a stop to this madness to much has been done
July 21,2007


Mr. Mark VerPlank, Lead Investigator of the Office of the President for Argent Mortgage Company how he lie he promised to help me with this invalid loan and help me fix my credit. How he low ball me with this move. This is very important regarding my home less than 16 days before they try to sale my home that does not belong to them. The Deed of Trust is not is not valet. Not only once did they try to take my home with the help of the Broker.
But 2 time now 3 time.
Then promising to help and he send me an identity theft package after reading the information He stated that due to the forgery of my signatures by the broker, this was considered an identity theft case Mr. VerPlank to confirm that this was the correct route to take. This was not the case now you’re talking Fraud by tricking and misrepresentation by creating a false impression; Forgery the making or altering of any documents and instrument with the intent to defraud.

Mr. Mark VerPlank states that the investigation is complete and would not investigation Fraud or forgery. If we come with summing anther than Fraud or forgery then he would reinvestigation. Down below are documents that have been forged and Deed of Trust is not is not valet. I receive document from the county of Alameda Official Recorded. My name look like it was white out and looks like it was fill in by hand. The initial are not my signature. But the most important is the phone numbers are not the same as the copy that I receive from AMC in April 2006. And Mr. VerPlank sends me documents in April 2007
With NO, Borrower Certifications of income with my signature, A Deed of Trust that was not Official Recorded and with a phone number that is not the same as the Recorded a Deed of Trust and not white out and forge initial are not my signature, Also NO Application document because I never fill one out.
Now in July 2007 Mr. VerPlank sends me a another set of documents with the Deed of Trust that was not Official Recorded and with the same phone number as the Deed of Trust he send me April 2007 and not white out and forged initial. Also receive an Application that was never fill out and to more documents with forged signature that show up now from nowhere. And a Borrower Certifications of income with my signature that was forged. Also a letter that was send on April 5, 2007
About my credit and how I was not aware and forgot I work on my credit for 11 months paid for nine of the online monitor services send over 500 letters call week after week and this letter has a forged signature that not my . But on the Application that I never fill out and two more documents Date April 17, 2007. Have the same signature as the letter Date April 5, 2007 you can tell there not. And a, Borrower Closing Procedures Not my signature on this document, also I never sign this document. These documents just show up last week. Dated 2-11-06. I never sign anything on this date. Didn’t even start this loan in till 3/2007.
With respect to AMC Argent Mortgage Company first it was the Broker now a Lead Investigator of the Office.
I did not do anything but go to your company for help. You have all the documents down below. Put a stop to this madness to much has been done to me and I lost so much please NO more







Below is the letter I am sending to the Argent Office of the President regarding my response to their investigation?

Thank you for all of your help. July 20, 2007

Nick Ramirez
(510) 749-4856

To Cynthia at Argent Office of the President

Re: Loan Number (loan number 0096372958)
I Nick Ramirez am writing this letter regarding the inadequate investigation of my Mortgage loan with AMC. How I was lied to by Mark VerPlanck of Argent Mortgage Company. He promised to help me with this invalid loan and help me fix my credit.

In April 2007 I filed a complaint with Argent Mortgage, Office of the President stating that the signatures on my loan documents had been forged, and that I was overcharged in fees and interest. I stated that my loan was an invalid loan and I would like my loan reinstated at payment that I can afford and would like reimbursement for the interest that I was overcharged.

At the time, my house was to foreclose on May 14, 2007. My file was given to Mr. Mark VerPlank, Lead Investigator of the Office of the President for Argent Mortgage. He assured me that this matter would be taken very seriously. He stated that the foreclosure proceedings would stop while this matter was under investigation. He said that he would help me get my loan reinstated and that he would even help me with my credit. Not to Worry,

Mr. VerPlank contacted me via telephone on May 2, 2007 to inform me that he would be sending me an identity theft package that I was to fill out and return to him ASAP. He also informed me that I needed to file an Identity Theft report with the Alameda Police Department. I received the package on May 3, 2007 via overnight delivery. After reading the information I called Mr. VerPlank to confirm that this was the correct route to take. According to the forms sent to me the definition of Identity theft was that the loan was applied for without my knowledge, which was not the case. He stated that due to the forgery of my signatures by the broker, this was considered an identity theft case. I completed the forms, filed a police report and supplied all requested documents to Mr. VerPlank. He informed me that he received all the necessary documents and informed me that he would contact me when the investigation was complete.

During the next few weeks, I contacted Mr. VerPlank several times. I informed Mr. VerPlank how desperate I was for this matter to be resolved. I informed him that my utilities were shut off, and that I had no money to reconnect them or for food. Due to an accident that occurred in November 2005, I was unable to work and needed to refinance my home to get my landscaping business going again. Mr. VerPlank again assured me that he would do everything he could to help me. I believed him.

On June 28, 2007, I received a letter from Mr. VerPlank stating that after an exhaustive investigation, he found that there was no wrongdoing on the part of Argent Mortgage and that I was aware of the terms of this loan at the time of closing. Therefore I was not a victim of identity theft and that the collection proceedings would continue. The letter also said that there would be many options available to me to reinstate my loan and gave me a number to call to discuss these options.

After receiving this letter I tried several times to contact Mr. VerPlank. I left several messages on his voicemail. I requested via voicemail a copy of the investigation file. I wanted to know how they came to their conclusion. I never received this, nor did I receive a return call from Mr. VerPlank. I did receive a package from Argent Mortgage that included the application, which I never filled out and the signature on it is clearly forged. There was also a letter (see below copy) regarding my credit report, which I have never seen before and my signature was forged. Again, I tried to reach Mr. VerPlank with no success.

I called the reinstatement line several times to try to discuss any options that were available. I was told that they needed to order them reinstatement figures, which would take several days. There were never any options made available to me. I was told to send them my financial statement. I informed them that I was not working, and that Mr. VerPlank was aware of my financial status, and informed them that Mr. VerPlank stated that there would be many options for me. I was then transferred back to the Office of the President because the reinstatement department was not aware of the options Mr. VerPlank was referring to.

I spoke to Kathy, VP of the office of the President, who was Mr. VerPlank supervisor. I informed her of my frustration and that I was not satisfied with the results of the investigation. I informed her that I told Mr. VerPlank from the beginning that I did not feel this was identity theft. This loan was invalid due to forgery. She told me that she needed to review the file and would call me back; I have never received a return phone call from her.

Now on July 16 2007, a letter of Notice of Trustee Sale was taped on my door. It states that my home is to go on sale on August 7, 2007. This is only 3 weeks away. I never received a Notice of Default, or A Notice of Intent to Foreclose. Nor did I receive any reinstatement figures. Not even a full 30 days notice!
After receiving this notice, I first called the reinstatement line, and was basically told that I would not be receiving any reinstatement figures until I set up a re-payment plan. The man was very rude to me on the phone and when I asked to speak to his supervisor, he was very argumentative and then I was disconnected.
I then called Mr. VerPlank and he informed me that during the investigation he compared my signatures with the signatures on my prior loan and that they looked similar. He stated that if I had any further complaints that he would reopen the investigation.

After speaking with an attorney, I called the Argent Office of the President and spoke to Cynthia. I informed her that I was not treated fairly by her office, that I was not satisfied with Mr. VerPlank and that I want to challenge the validity of the Deed of Trust. This document is not a valid document. I informed her that the Deed of Trust recorded with the county and the Deed of Trust that I received directly from the Mortgage Company were not the same document. My name of the first page of the County copy was white out and hand written in, and the copy from the mortgage company my name was typed in. None of the signatures are my signature as well as the initials. Below is a list the additional inaccuracies that I found on the documents that were just sent to me.

1, Limited Power of Attorney
Not my signature on this document.

2, Signature /Name/ Affidavit
Not my signature on this document.

3, Borrower Closing Procedures

Not my signature on this document, also I never sign this document. These documents just show up last week. Dated 2-11-06. I never sign anything on this date.

4, Borrower Certifications of income
Not my signature on this document. This page states that I make over $9,000.00 a month. I have never made that kind of money in my life and would never sign anything stating that I did.

5, Deed Of Trust

I receive document from the county of Alameda Official Recorded

My name look like it was white out and looks like it was fill in by hand

The initial are not my signature.

Also this is not the same document as 2# and 3#

because if you look under the initial there a phone number (900-521-7291)

6, Deed of Trust 2# and 3#

I receive document from the mortgage Co. Document 2# receive in April 2007,

Documents 3# receive in July 2007 from the mortgage Co. These two Documents my name is correct.

The initial are not my signature. These two Deed of Trust are not the same as the Deed of Trust 1#

because if you look under the initial there a phone number (800-521-7291) on these two Documents 2# and 3#.

And not recorded though the county of Alameda.

7, this page I never seen or sign on Dated April 5, 2006. This is forgery and fraud on who ever sign this letter .4 #

I was well aware of my credit and the trade lines I never file identity theft I did have one fraud account that I report to the four Credit Bureaus in Jan 2006. Note I put 10 months of work in my credit for noting paid for nine of the online monitors services to fix the errors. Wrote over 500 letters to the Credit Bureaus called week after week and all for noting. This was about bad reporting and No help from the Credit Bureaus, This is not about identity theft it about fraud unless. The one who wrote this letter that I receive last week. The signature on this letter is not my signature. This is not right or fair. Note:

8, Uniform Residential Loan Application document 5 # and Assets and liabilities document 6 # and Continuation Sheet/Residential Loan Application document, 7 #. I never sign any of these documents. Last week was the first time I seen this document that was send from the mortgage Co... That I will be sending you.

 Note: You have documents 4# 5# 6# with same signature. Document 4# date April 3 2006 .14 days later you have
Document 5# and 6# date April 17 2006 with the same signature. On Assets and liabilities document states that there was an interview by telephone with,
Cong Le. OS how it could be that letter .4 #and 5 #6 # have the same signature. And the Application document does not have my signature on it and last week was the first time I ever seen this document that was require by law.

9, Grant Deed Date April 17 2006. I never sign this document this is not my signature nor did I sign personally before Shelly Poe.



I am requesting that the investigation be reopened. Below are documents to support my complaint.



I am only asking that you do what is right. This has gone on long enough. I don't feel that I am asking for anything that is unfair. I just want a payment I can afford. This is my home, where I live with my children. I have worked so hard my whole life. This is not fair. I am a victim of Mortgage Fraud and predatory lending practices at the hands of your company and you need to make this right.



Thank you



Nicolas Ramirez

227 Central Ave.

Alameda, CA 94501

Thanks Nick for sharing information about them. It will help others who are in the same situation as you are in. These details will work as a guide for them on how there approach should be if in similar situation.

Yes Niicss it would prove to be quite useful for people looking to get some information about mortgage companies and how they treat customers.

Thanks
Blue

Hi Nick,

I think you are going by the right way. Let's keep our fingers crossed and hope for something good to happen. Do let us know what the AMC has to say after it receives your letter.

good luck

"In April 2007 I filed a complaint with Argent Mortgage, Office of the President stating that the signatures on my loan documents had been forged, and that I was overcharged in fees and interest. "

Apart from complaining to the mortgage company you should also approach FTC and Department of Banking in this matter.