If you have a loan in process or are considering a loan with Ameriquest, please cancel everything right away. If you loose your appraisal fee or an application fee you will still be better off. (Also, demand a copy of your appraisal, it's probably inaccurate, but you own it and it's good evidence).
If you already closed a loan with Ameriquest, I urge you to read every page of your closing documents. Please double check your income and assets amounts. I worked at Ameriquest for less than a week. I quit my job as soon as I realized the unethical and illegal practices that were regularly encouraged by upper management.
I can't mention my location, for fear of retribution (possibly violent), but I can assure you that if you are amazed that you qualified for such a great loan - it's because they doctored your paperwork.
In my territory, the loan officers and managers regularly altered bank statements, W-2 statements, and applicant information. They could also get any appraised value that they needed, often not even close to a true appraisal. The "top" loan officers had special prized boxes that held their exacto-knives. Using mini exacto-knives and "white-out", they would cut and paste the documents and then make new copies to show the new amounts.
If they are ever accused of doctoring any documents they are prepared to deny everything. They will simply say that they received the documents, usually via fax, already doctored. They have no idea who changed the figures, but they are sure that they received the fraudulent document "as-is".
If you can't qualify for a loan with anyone else and Ameriquest can somehow help you, you can almost be certain that some piece of information on your application has been falsified. Some of their loans are fine, but the non-altered loans could easily qualify with multiple lenders, so there's still no reason to use Ameriquest at all.
Anonymous
Nationwide
U.S.A.
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