Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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DOJ
  • Report: #165984
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    Report: Ameriquest

    Category: Mortgage Companies

    Ameriquest MORBID Company tried to ripoff my wife and I New London Connecticut

    *Consumer Comment ..Ameriquest >Outcome: JURY verdict was 1.94 Million Actual damage award; 3 Million punitives. Verdict was unanimous on actuals, 11-1 on punitives.

    Respond to this report!
     

    Are you an owner, employee or ex-employee with either negative or positive information about the company or can you provide "insider information" on this company?

    Victim of this person/company?

    Are you also a victim of the same company or person? Want Justice? File a Ripoff Report and don´t let them get away with it!
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    Ameriquest

    Phone:  
    Fax:  
     
    http://www.ameriquest.com
    New London, Connecticut,
    U.S.A.

    Submitted: 11/27/2005 3:04:02 PM

    Modified: 11/29/2005 6:59:52 AM
    Reported By

    Cherylandjerry

    Oakdale, Connecticut

    How to get Rip-off Revenge

    I have to honestly say that our dealings with this mortgage company has been thoroughly stressful. The scum bags shorted us approximately $3,800.00 on our closing check. And that money came eleven days after the three day right to resind period policy.

    These morons actually believed that they could fool my wife. I truly feel for those homeowners who have been living through this horrible crisis in mortgage brokering. I suggest that those of you who do not want to ripped off, get a lawyer immediately After signing the closing, actually, have your attorney ready and then bait these crooks into a extremely cheap mortgage. When we RE financed, of course, we were shorted on the closing check and then they didn't want to post our very first payment.

    Within three months they were threatening us for late fees. The checks were in the local office, in the drop box before a late fee would have been assessed. Here is the beauty in our situation; we have not paid our mortgage in one year. HA HA. Our attorney believes there are forged documents in our closing. The judge granted our motion to leave the contract.

    For some reason they are not willing to take this to depositions just yet. These scum bags must not want to lose a license in this state. If you Ameriquest employees are getting laid off maybe it's because your employer is a crook. it was strange to see how our computer was reacting when we began to fight them back.

    It amazes me to this day how that remote access number got on our fax machine! It was being RE installed whenever I erased it.(for months!). Somehow they knew we were about to send them a fax because all of the sudden, the phone would ring, and it was 'Mark' giving us an alternate fax number. You guys must think that Americans are here for you to abuse. I love having a free mortgage for now , but I would rather see to it that they receive public attention to Criminal activities in a court of law .

    Be careful because they will try to transfer their interests out of this country to well known German Bank. Our attorney beat them to the punch by two days. Three attorney's devised our plan. and a fourth attorney executed one area while another went to district court. How do you corporate scumbags like it when we respond with a lawsuit? Go ahead and take us to court you morans. I want to see this case in the news.

    For all of you victims out there I suggest that you use zonealarm's firewall software, because these people are criminals and they must be punished for thier actions. My wife is smarter than all their employees combined, My dog is smarter than the two brokers we signed with. I bet those idiots lost their jobs right quick. The best part is after 3 months we recieved the check, cashed it, and hired an attorney and still had $2800 left. We printed out literally 1,800 or more pages of intrusions from the zonealarm software. Gee, was that you ameriquest MORBID company? Thank you!

    I love seeing other people's serial numbers being printed out. I would be nice to see some of the serial numbers on thier hardware! Maybe my wife and I will never know. We really want to tell more people other than a congressman. I highly recommend zone alarm to the world. My wife and I prayed for months and the GOD OF JUSTICE responded. Thank you Jesus!

    CmsandJlsGOTUMback
    Oakdale, Connecticut
    U.S.A.

    Click here to read other Rip Off Reports on Ameriquest Mortgage Company

    Rip Off Report: Ameriquest MORBID Company tried to ripoff my wife and I New London Connecticut

    Quote 0 0
    I know several people in your position.  What may help you is a book on dealing with Ameriquest while protecting your home, you can download it for free at http://www.useful-info-for-you/ameriquest

    Really the book could apply to almost any mortgage company ripping off its customers, but the author decided to focus on Ameriquest.

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    Bill & Ted

    the link didn't work?

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    .com

    The ".com" is missing http://www.useful-info-for-you.com/ameriquest

    Quote 0 0
    Bill & Ted

    Oh Thanks so much!

    Quote 0 0
    Bill &Ted
    It should be at least 13 pages. some of the links on the ebook are a good start. He or she needs to add a lot more...
    Quote 0 0
    Jason
    Oops!  The correct url is http://www.useful-info-for-you.com/ameriquest
    Quote 0 0
    Rollie
  • Report: #235369
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  • Report: Ameriquest - AMC

    Category: Mortgage Companies

    Ameriquest - AMC RIPOFF AMC lies and thieving tactics are destroying me and I'll lose my home soon if I can't stop them Clearwater Florida

    Respond to this report!
     

    Are you an owner, employee or ex-employee with either negative or positive information about the company or can you provide "insider information" on this company?

    Victim of this person/company?

    Are you also a victim of the same company or person? Want Justice? File a Ripoff Report and don´t let them get away with it!
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    Ameriquest - AMC

    Phone:  
    Fax:  
     
    ameriquestmortgage.com
    Clearwater, Florida, 33763
    U.S.A.

    Submitted: 2/9/2007 7:52:52 PM

    Modified: 2/9/2007 7:53:00 PM
    Reported By

    John

    Safety harbor, Florida

    How to get Rip-off Revenge

    I have read a lot of the above. I am a victim of the same company and have all the same issues with them. I was lied to in the begining just like all the others. I had poor credit and was trying to buy my house. I had to pay for a new appraisal for the company they chose even though we had one that was only aabout 5 years old.

    I was told I was getting a 30 year fixed loan and at a good rate of about 6.25% or thereabouts.

    The day before closing the AMC rep tells me he can't get that good a deal because of my low credit score. Now I told him I didn't have good credit to start with a month before! He says he can still help me if I am going to pay off my debt I can get financed. They would just increase the loan amount to cover the debt and they would handle everything. He also said my interest is going to be more like 7.5%. Ok, I have no choice, I was already turned down by other banks.

    At closing I find out my interest rate is 9.5% which is almost DOUBLE the going rate! they said it was because of my credit score. In addition the loan amount is $15,000 more than I had asked for to cover the debt and pay all the fees for a 'no out of pocket closing costs' deal. I didn't know until signing about all these fees. I was expecting to walk away from closing with a note, a check for almost $6,000 in cash to finish the repairs on the house and checks for my debts to mail out.

    NOPE, instead I walked away with nothing. They said checks would get mailed to me later when all the paperwork was approved. Now, I'm a bit green, so I said ok. Do I need to do anything or file anything with the state or county I asked them. No, we've done everything for you. Part of the financing was I had to submit the insurance information to them that the house was covered. I gave them the policy info and all the phone numbers. They asked me if I wanted to keep the same insurance company when the house was put in my name, I said sure, 'you do that too?' I asked them. Oh yes, we'll take care of everything. Just sign here.

    Then, only the debt checks arrive, not my check. So I start calling. I'm told I can't get the rest of the money until the home is finished. I told them I can't finish the home without the money! We go around and around for months. They threatened to yank the loan and forclose because I didn't finish the repairs in the time limit in the loan, I said WHAT time limit!? That was never discussed, nor was it discussed they would hold my money, the agent that got me all into this mess was well aware I wanted and NEEDED the extra money to finish the repairs. In fact, he's the one that told me the only way he could get the loan amount approved was by having the appraiser issue the appraisal for what the home would be worth after the kitchen was done and the flooring put in. So that was a fraud issue right there. But I had no idea what was going on at that time. When they started pushing about getting it done according to the agreement I pushed back and said it was a fraud issue and I demanded they issue the check so I could finish the home as I was promised it would be. They told me then that the home didn't appraise for enough without the repairs being done and the loan was no good for that amount. They would not issue the check.

    I told them to go ahead and foreclose on the issue while I call the newspapers, the police, and any governmental agency that will listen to this. I'm sure the judge would like to hear why you are foreclosing. Send me my money. I've been paying you interest on that money for almost 6 months now, I want it back because you haven't loaned it to me. They refused to send the check or refund the fake interest they were collecting on me. So I said keep the money and deduct it from the loan.

    That's what they did. They applied it to the prinicipal and recalculated the loan payments.

    A year goes by and I get a big tax bill in the mail plus a notice about escrow going up due to taxes. I go in to the tax office to complain about the QUADRUPLE increase in my taxes. There's a law against getting taxed out of my home here. ONLY then was I informed the homestead exemption wasn't filed and I lost that benefit. I signed one of those cards for the exemption when I was doing all the other paperwork at Amerijerkst! Well, they stuck it in the back of my folder they gave me and didn't mail it out. So I refiled and got the exemption back but it wasn't retroactive and my taxes are only locked to current rates and statutory increase limits. THAT screw up by AMC costs me an extra 2 grand every single year now.

    Another year goes by and I get a call from AMC asking if I want to refinance, take out equity and fix up my home and change to a fixed loan. I said WHAT!!! I HAVE a 30 year fixed loan. The rep said I didn't. I tell you we went round and round on the phone. So I dig out my papers and I have to look and look and get the magnifying glass out to read it to find the floating rate deal in there. I NEVER read any of those papers, each time I started to read something someone at the table asked me what I was trying to figure out. Then they would answer whatever it was and say this or that was in there and covered. I was SO stupid! At that time they all seemed so nice and helpful and they were doing me a favor, yeah, the loan agent told that exactly, he was doing me a favor because my credit score didn't qualify for anyone else, so I beleived it and every lie they spouted.

    So I call the new guy back and say yes, lets reapply for afixed note. Then he says it's going to cost me something like 5 grand in termination fees, origination fees, closing fees and all that so we need to take a higher loan out to pay for all that. Skip it I said.

    Then it starts, every 3 months the payment keeps going up and up because they keep jacking my interest up. I'm NEVER late, it's setup for auto pay direct out of my bank. THEY screwed up on the auto debit twice and didn't submit it. Then they assessed me late fees! I spent almost a year in phone calls with various offices to finally get the fees removed. But the records still show it was paid late twice, it just don't show they didn't collect the money and it was their fault. So now I can barely afford my monthly payments. I started out PITI about $714 a month with a note that was originally 5 grand more, but now I'm up to $980. So I call AMC, at first the rep is all happy to help, then says my credit is too low so they won't refinance. Makes no sense, you loaned me money before, same house, same person, same low score, 3 year track record of good pay and you won't even look at it?! That's right he tells me.

    So I start calling around and a lendor or two contact AMC for the payoff amount. All of a sudden the customer retention department at Amjerk calls and wants to try and help me refinance at a lower rate. So we go around about how they have already told me twice the answer is no. they say they can help and no need to go to another lender. so I give them the new info.

    The other lendors I applied at said no to my loan because of my credit score. Now I had been calling AMC daily if they had any word for my yet and kept being told not yet. AFTER the others turn me down, AMC says no, my credit score is too low. So I told the guy what scam artists and coniving crooks they are. If they think someone is going to loan me money and they lose my note, they want to talk with me about a loan. Soon as other lendors say no, then to heck with me and they deny and ignore me.

    So we have a couple hurricanes go by. I have no loss and think nothing of it. But I do call AMC and tell them to look into increaseing my coverage because the home is worth more now and would also cost more to fix with the price increases the past few years.

    Next thing I know I get a cancellation notice from my insurance company. They are no longer writing new policies in Florida, they are only maintaining their old ones right now. I said I had an old one they are cancelling and I don't know why, I haven't had a claim or anything and it's always paid on time through escrow. They said someone called about the policy and it came up that the home was sold years ago and the name on the policy was never changed, so they consider it a new policy and won't put it in my name, they cancelled the old one and that was it.

    Now I'm without insurance and paying over a grand a month PIT!

    I call around and find out that NO ONE will insure me, only state insurance is available at FIVE TIMES what I was paying for less coverage! I also find out I have to pay cash in advance for the year over 3grand. Well, you guessed it, I don't have that kind of money. So AMC now starts calling about how I have no insurance, I'm in breech of my agreement and blah blah. After a couple months I speak to someone with a heart at AMC, yes, there are one or two there, and he says give him the agent info, quote number and stuff, he'll make arrangements to pay it for me and adjust the escrow. Two months go buy, I get a policy info sheet and figure great, it's handled. yeah, handled all right. They DIDN'T call the agent I told them to, bought some onesided policy at astronomical rates that ONLY pays them and does not even cover the house costs at all, just their precious principal amount on the loan!

    So, here I am about to go bankrupt, my interest is over 15% now, my PITI payment is $1,771 a month! I owe LESS than when I got the loan and the payment is over DOUBLE with less coverage and higher taxes. AMC angelically denies they did anything wrong and this is all my fault, that I should refinance and get a lower rate but they won't refinance. They said I should go buy my own insurance and send them the proof of it. but I still owe them the double priced insurance for last year because escrow THEY calculate was wrong.

    I think they are nothing more than the fithiest rotten scum sucking bottom feeders on the planet that infest us. They are maggots and deserve nothing but rotting corpses. They lie, cheat, con, and steal our lives away slowly over time. They reel in the unwary, get them in so far you can't get out. Then they forcelose. they have a low mortgage to pay off, reap enourmous fees for all the process and sell the home at a much higher price that is still under market for quick sale. They are like the old time mafia, except they don't kill you, they just destroy you.

    If anyone knows a way to stop these crooks now would be a good time. They prey on those who can least afford it and take advantage at every turn!

    I can't afford to live here anymore and it's ONLY a stupid 74k principal amount! that's how bad they are raping me or have screwed me so far into it that I'm raped monthly by their robber baron interest rates, the tax man and the insurance clowns. Used to be only 5 years ago $1,700 a month got you an estate home, not a cracker box ranch built in the 70s!

    Where do I sign up for class action!

    John
    Safety harbor, Florida
    U.S.A.

    Click here to read other Rip Off Reports on Ameriquest Mortgage Company

    Quote 0 0
    srsd

    Just Google Ameriquest complaints and you can find page after page of the same thing that has been done.

    Quote 0 0
    info@roddykleinryan.com
     info@roddykleinryan.com


    Quote 0 0
    Fred Red
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    Fed up
    I got a postcard in the mail today. 

    http://www.ameriquestmultistatesettlement.com 

    "You are eligible to participate in your State's settlement with Ameriquest ... and receive a restitution payment.  Officials from your State will send you important information within the next 2 weeks". 

    The website above is vague on how much is being allocated to each victim of Ameriquest.  States that it is up to each state how they divy up their share of the multistate pie.  The only state that is not included is Virginia "Ameriquest does not do business in  Virginia". 

    So I'll be waiting to see.  I don't think I'll opt out like I did with FB as I really have now time to spend on this once again, altho it was fun bringing FB to their knees! 

    Good luck to all Ameriquest victims -- read your paperwork carefully when you get it and make sure that it's not going to be the 10 cents on the dollar that FB vicitims ultimately ended up receiving.

    Karen

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    Fred Red

    who is FB?

    Quote 0 0

    FB = Fairbanks Capital Corp. n/k/a Select Portfolio Servicing Inc.

    Quote 0 0

    FB is Fairbanks just type in Fairbanks in the search and you will see the posts of Fairbanks. These crooks usually get a pennies on the dollar settlement and escape criminal prosecution and the victims never get compensated.

    Quote 0 0

    I should have said the settlements are an insult compared to the total destruction of you life. It would be like someone ramming into a brand new car and telling you don't worry I'll give you the toll change in my ashtray to compensate you for your loss and we can keep the accident between us and not tell the police or insurance.

    Quote 0 0
    That's funny Greg, but very true.  That's the reason I opted out of the first one.  I'm trying to figure out how much Michigan residents will get out of this one with Ameriquest.  I knew they were predatory when I took out the mortgage, but I already had the house sold, so was just pulling out equity to get the down payment money to purchase our resort (which I question my sanity on that one sometimes).  I found on an internet search that Washington state residents will be receiving roughly $600.  The article stated that the AG believe that the settlement was "less than ideal". 

    The one thing I found very strange about Ameriquest when we refinanced was that they appraised my house at $170,000 without ever seeing the home.  They wanted me to do a 100% LTV.  The agent was extremely upset when I only went for a 60% LTV and kept pushing me to go higher.  Then they tried to do the "bait and switch", quoting me a good interest rate and then sending me papers for 2% more -- I can't remember the quote tho.  So I refused to close until they lowered it to what I wanted.  They then hit me with more fees than what I agreed to.  I gave the agent the FTC link to the FB settlement when it was still online and he removed almost $5,000 in fees.  So then I was funded, but could not have my $$ for TEN days!  Well someone was making money on that one, so I threatened RESPA and I had my money in 24 hours.  Just knowing what I had learned the prior 5 years fighting MSF made all the difference in the world when dealing with these crooks.  The funniest part of this whole thing was they tried getting me with forced placed insurance and failed at that.  I then paid off the mortgage and they put me in foreclosure!  I called them "and you can do that how"?  Well you are 3 months late on your mortgage.  Okay jerk - scroll down your screen and read on.    I got the last laugh on that one. 
    Quote 0 0
    Good job on the negoitiations.

    Some of you that have those awful loan terms may be looking at negotiating the terms of your mortgage contract because of the predatory lending aspect that got you into the predatory mortgage servicer.

    It might help to do research before you get the call.  Current interest
    rate?  Decide what percent interest rate you want and what you will settle for.

    Amount of loan?    How many years?


    Go to http://www.Bankrate.com

    Three is a 3 page report on the methodology for predatory loans and the Bear Stears deal that is sending shock waves in the secondary market.

    You'll find all manner of calculators useful for calculating whether the terms
    being offered are satisfactory for you. 

    The amortization calculator for your use is quite helpful in tracking your loan
    payments for what you have paid to date and what your balance is for both
    principal and interest.  (You can add other expenses into blank colums on the right such as escrow for taxes and insurance if you have it)

    It is a more wise choice for you to decide how much mortgage you can afford than to let them decide for you.  You'll weed out the over-chargers right away.  You can stop the balloon payment that nobody should have.

    When you are prepared, you'll do a better job negotiating the terms of a mortgage contract. 

    Think of what you want inserted about sub prime mortgage servicers.
    Put some limitis on their behavior.  Right now nothing is put into a mortgage contract to protect the borrower from abuses and or fraud.

    I hope everyone will get a decent loan now but there is nothing for sure
    unless you set the rules.  Be willing to say No at signing if their bait and switch tactic be thrown in at closing.

    There is something worse than being victimized by a predatory mortgage servicer.  That would be to finance away and end up right back with them again.

    The most useful word in Karen's vocabulary was the word NO with the switch and bait and a willingness to say no to the terms and ultimately say no to the loan if it is predatory in any way.

    Dee



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    O -

    That sounds good  Dee

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    Predatory Mortgage Servic
    Quote 0 0
    FB EYE!

    Mortgage Lenders Cheating Homeowners Already In Trouble ...

    In another case, Ameriquest was ordered to pay $750000 after the court ruled it was not applying a homeowner's mortgage payments properly. ...
    tabacco.blog-city.com/mortgage_lenders_cheating_homeowners_already_in_trouble_cou.htm - 21k - Cached - Similar pages

    Quote 0 0

    FB EYE where and how did you find your

    above post?

     

    Ed Cage


    Quote 0 0
    FB EYE!

    I Googled ''Ameriquest court dates 2008'' and found it a few pages down.

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