Ameriquest
Ripoff

For the people who think they know about Ameriquest...

I worked at AMC for 3 long years and some of the things ive witnessed are horrible. First off, let me explain what ameriquest does. Ameriquest has the ability to close a loan in as little as two days so most people dont know what hit them - before they know it the cancellation period is up. The company does have competitive rates but they charge people a minimum of 4 points. People with perfect credit get banged over the head with ridiculous fees. As salespeople, we were told to just " sell the sizzle and not the steak " or told countless times that " ameriquest sells benefits, not rates or fees." 9 out of 10 branch managers were pimple faced kids - 23 or 24 years old that had no work experience nevermind managerial experience. Being promoted to manager meant that you were in the right clique, in most cases it had nothing to do with merit. Account executives were scloded several times daily for not cold calling enough customers, not closing enough deals or not working enough hours. The managers used tired, old motivational tactics - " do it for your families, get that extra deal this month no matter what, dont you guys have any pride? You guys suck! We need to close more loans!"

Most of the lame salespeople that i ran into couldnt sell pencils, nevermind a loan with fees in excess of $35,000 so they lied, falsified documents, etc. They would pull the cancellation papers out of the customers paperwork so that the customer had no recourse.

Ameriquest ruled by fear, telling employees that they would be fired if they didnt hit certain goals. And if you hit your impossible goal one month you wold be expected to hit a higher one the next. Its just a big scam. All the commercials, the charity work, the blimps - its marketing. Ask anyone thats ever worked for ameriquest and they will tell you that they would NEVER, EVER, refer friends or family members to Amerquest. When i started there was not one minute of training. If you tell a manager that a particular loan wont work because the person dosent make enough money to qualify then the manager would say " just go stated" which meant that even though the borrower didnt have a job, we would just state that they made a certain amount of income. It was totally irresponsible.

Preying on people that werent very proficient in english was a whole other story. We were instructed to tell every customer that their credit was "terrible" and "you cant get this loan anywhere, ameriquest is the only place you can do this type of loan " most account execs. Knew nothing about mortgages, most didnt own houses. Such a joke. I had one colleague tell me " i just sold something to someone that they didnt need, now thats a salesman " most people at ameriquest were weak minded followers, that had no other work experience. There were some though, that were shrewd and milked ameriquest for the 3 years that they worked there. Like me, who told countless customers that they might be better off not doing bussines with a place like ameriquest. Who told people the truth about ameriquest and offered to point them in a direction where they could find a cheaper loan. Ahh the satisfaction!!!

Company: Ameriquest
Country: USA
State: New York
City: New York
Address: AMERIQUEST. COM

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