Complaint / Review
Ameriquest Mortgage
The problem with their recently fired employees ripoff

The problem with their recently fired employees is they retain the AMC brainwashing and post defensive comments here on this site. They're still drinking the Kool-Aid.

My advice is to go away and cool off.in a few months, you'll realize that the truth is that Ameriquest cared less about their borrowers than about their employees — but only slightly less. It was always a numbers game, at every level. The branches recruited employees and the employees recruited borrowers.

The loans are expensive and quickly printed/signed/funded.in most businesses (mortgage inlcuded) you can have quick, good, cheap; Choose two. At Ameriquest, you could have it quick. It was never cheap, and it was rarely good. One of the few business models that breaks that 2 of 3 rule.

Their commission structure for AEs and LOOs was laughable. The commission for Branch Mgrs was stress-inducing. I saw several Branch Mgrs and several Area Mgrs crack, crumble, fold, disintegrate & either from stress, or from loss of income.

Their health benefits and retirement matching were weak. The sales contests were fully paid by the remainder of the commissions that would have been paid "in the real world". The quarterlies were laughable.

When I worked at AMC yearrrs ago, I recognized it wasn't the best company that ever employed me, but it was a quick introduction to an industry I was researching. You would need to have been in our geographic area during that time to understand why overqualified people (myself included) were accepting entry-level jobs.

We had a great time. We made some great friends. We made some great business contacts with vendors and clients. Some of us also learned right from wrong and left the company to join "the real world of lending and real estate". Some of us left the industry forever, jaundiced by the AMC experience.

For those of you borrowers here who are getting slammed online by heartless individuals & don't take it 100% personally. They're just bitter and this board is some type of anonymous therapy for them. Their little scam has evaporated and lashing out makes them feel "normal" again, if just for a moment here.

I've seen 'em come, and seen 'em go.