Ameriquest Mortgage Ripoff There may be hope yet Sacramento California

Tonight I will be typing up a letter to the Office of the Pres. and mail it certified tomorrow or Wed. I really appreciate all your help. Although I still do not have a lawyer. I have sent numerous e-mails and phone messages this weekend so cross your fingers that I will receive a call sometime this week. I just hope the title company is willing to cooperate. In a way I hope everything matched up but I have doubt it will. I will inform on here if it does or doesn't in the weeks ahead. Thank you again for your help.

Make sure you send a certified letter requesting copies of your signed loan documents. Once you receive the copied documents you need to have your lawyer view over the ORIGINAL documents not the copied ones and there's a very good chance they will not match up. Compare every signature and every initial.

You can write the Office of the President of Ameriquest and request a copy of ALL your loan docs. That way you will have it in writing that you made such a request. You will probably have to call in two weeks and remind them of the request verbally. I got a voicemail and I politely reminded them that they had not responded to my letter (certified). Two days later I had the copies - or what there was of them - via Fed Ex.

At the same time, I made the identitical request (ALL docs in my portfolio) from the title company - by phone. I did not inform either AMC or the title company that I was requesting the same from the other. The title co seemed to want to cooperate, and they were baffled by the lack of docs actually in my file. The lady I talked to really was trying to help. I don't believe she was actually in that office when this all went down 3 years ago. They sent a VERY anemic file, but some incredible matchups were still discovered.

You need both sets, Laura. That was how I handled it, but your situation may be different. I hope this was helpful.

Thanks for all your help but I am still confused. The first time (I know stupid) we refinanced with AMC they mailed us copies of the loan docs with our signatures on them. This time around AMC NEVER mailed those copies we signed at our house. All we have are the second set that was left with us while the first set the one that had our signatures went with the notery and to the office. AMC did not mail a copy of that signed set of docs to us like they did the first time around. So the only loan docs I have in my possession right now are totaly unsigned by anyone. What do I do. The more I read on here people say thay have requested docs from the title company and AMC to compare signatures and dates etc. I do not have an attorney it's very hard to find one who will listen to me but I do want to compare signatures. How do I do that by comparing the unsigned ones we have to the signed ones AMC will mail me? I have written letters and e-mails to the attorney general, FBI, and so on but only in regards to AMc leaking our personal info. I want to see what else is wrong with my loan. All this has really opened my eyes and I will not stop until this company is in hell where it belongs even if that means I have to get my law degree. Please keep the advice comming. Do i call AMC and my title company and compare loan docs or do I wait until someone anyone who is an attorney will listen to me and have them request it? I just feel that right now I have no strong evidence against AMC unless I go through my loan docs with a fine tooth comb.

Getting copies of the paperwork alone will not work, there were "arts and crafts" sessions with cutting and pasting of signatures to ensure they matched. If you really want to get proof of wrongdoing compare the copies you receive with the cut and pasted signatures to the ORIGINAL docs that will be missing the signatures. Hope this helps.

Getting copies of the paperwork alone will not work, there were "arts and crafts" sessions with cutting and pasting of signatures to ensure they matched. If you really want to get proof of wrongdoing compare the copies you receive with the cut and pasted signatures to the ORIGINAL docs that will be missing the signatures. Hope this helps.

In my opinion, you should not have any contact personally between you and Ameriquest. They will lie to you and give you false info purposely to try to protect themselves. They did everything illegal in the book and even added some. They will now not admit any wrongdoing, which they were guilty of in the highest degree across the country for years, and they will tell you anything to lead you astray.

Laura, In my 3 1/2 years of talking to Ameriquest agents/employees, they have NEVER told me the truth in ANY of my dealings with them. This is a very strong statement, but I can back it up in Court. I cannot stress enough that you are dealing with an evil that is almost incomprehensible. Have your attorney ONLY communicate with them.

Again, their attorneys have instructed them - and wisely so - not to give ANY information which admits any fault, or any knowlege of fault, to anyone - ESPECIALLY a potential litigant.

Trying to get helpful info from them is absolutely futile. They have been drilled NOT to do this. I seriously doubt their conscience will override their lawyers strict instructions. They are the enemy, PERIOD!

Understand that this is only my opinion/experience, though. Might want to get some opinions of others here...

Demand copies of signed paperwork, Immediately. Once you have received your paperwork read every page every word look at everything to make suyre it matches the paperwork you have. Watch for paperwork that has your signature but you do not have a copy of. Watch for numbers that have been changed you have to read every decimal point every comma everything. Then you will know exactly where you stand. If you find things are not the way you thought they were or paper work does not match. Immediately go to a real estate attorney and pay him to check your paper work. Then you will have a total understanding of where you stand.

Why didn't you go to the local authorities regarding the illegal practices of Ameriquest.Please respond. If you knew they were doing wrong why let it go? We need employees insites to this problem to shut down this company

We have copies of our contract with no signatures on them we refinaced last year with AMC. does that mean they can not charge us a pre-payment penalty? We are going to call and request copies from their company with the actual signatures should we not do that? Please respond someone.

Please inform me who the attorney is. I am also a customer of AMC and I posted the report "AMC leaked my personal info Beware" that isn't the only problem we were charged over $13000.00 in closing costs a year ago when we refi a second time. The first time with Ameriquest we were not aware of their situations until after we signed the docs on the second refi.

I haven't received a letter from any attorney and I am looking for one to atleast look over my docs and to see what I can do with my personal info being leaked to third party brokers. We are being harrassed by these brokers and I have to assume it is because of AMC.

When they terminated the employee they didn't even bother to ask which companies he or she gave our info to. I am not the only one this happened to in CA. From what I understand from the office of the pres. at AMC there is a lot more. I need help if any attorney is willing to listen I do not have much money but I feel AMC breached our contract so our contract should be voided. They are still charging us a prepayment penalty as well if we leave. They won't even waive that out of the kindness of their hearts (which are made of steel) I feel for you and I wish you the best. It will be an uphill struggle as I know.

can you post this date on all the ameriquest web sites? i think a lot of people would respond.
marge
holland, mi

How Far Must We Go For Justice/ MSF March
Mortgage Servicing Fraud March

Author Comment
Question 4 All 4/22/06 at 01:45 PM

If these organizations of crime continue as they appear they will with almost no resistance from our government, etc., when do we know it's time to declare war on these criminals ourselves and fight to regain our rights, as well as justice, just as many past generations of Americans have done?

Believe me, I'm really not a violent person at all ,but there are times when I begin to feel that with my inaction I maybe aiding and abetting these crimes. Not to say that I haven't tried to bring about change by all the conventional means, as so many others here have done and continue to do.

What are your thoughts?

anon 4/22/06 at 01:53 PM
Aside from firebombing their offices, maybe people should try voting. Call me old fashioned but with a 30% turnout in a good election year.. This is an election year. Write your reps, email, show up, vote. I have heard the pen is mightier than the sword.

Question 4 All 4/22/06 at 02:53 PM

Hmmm, why didn't I think of that? Well actually I did, and perhaps I agree with you, well about 80% anyway. But you can't blame everything on poor voter turn out. After all it seems that we are constantly being put in the position of voting for the lesser of evils and not the best qualified.

And believe me, I have written hundreds of letters in the past few years with almost no results to show for it, other than the usual passing the buck. I think the problems that we are all facing with this industry are bit more entrenched and widespread than you may think. But I do commend your optimism and certainly hope your optimism is well founded.

Thanks for posting your opinion.

anon 4/22/06 at 05:42 PM
Something about foxes in the hen house ... How does that go. These people got there and stay there with the assistance of those in power. Campaign finance contributions? I am sorry to say some of us were sleeping at the wheel. It always happens to them until it happens to us. That coupled with a concerted effort on the part of the media to keep attention misdirected. Keep the attention focused on the trivial and unimportant. Make the national news about some white girl who got cold feet or even better illegal aliens. There's a group who is a real threat.Make the 6:00 pm news about some guy who robbed a liquor store. Now that is news.These people got away with it because we let them. Having seen first hand how little people actually show up to vote, that allows the corrupt commissioners and corrupt mayors so on and so forth get away with what ever they want to. I don't think its all about the money but it sure helps.

Question 4 All 4/23/06 at 12:06 AM

But of course, the same people who currently control the media (news) also control the banks, as well as, most of our so called "elected" politicians, government, etc.. Thank God for free will.

Anonymous 4/23/06 at 09:30 AM

Simple. Use the market to put them out of business. STOP SIGNING UP FOR SUB-PRIME LOANS.

Carolyn 4/23/06 at 09:32 AM

WE ALL HEARD OF THE MILLION MAN MARCH ON WASHINGTON.could you imagine a million mortgage servicing fraud victim march.

It could be call the Million MSFV March. Ahhhhhhhh what a picture

ORGANIZE 4/23/06 at 01:39 PM
Name the date and time, I'll be there!

ic2muchfraud 4/23/06 at 01:45 PM

Anonymous,
You clearly don't understand Mortgage Servicing Fraud at all. Do you honestly think people choose to sign up for sub-prime loans? Besides, that really doesn't matter anyway because even if they obtain a loan sub prime or not through an honest broker/bank in most cases they still have absolutely no control over who ends up servicing the loan. It is possible to obtain a loan with a company which, services their own loans but the interest rate for these loans are usually higher so most people choose not to and many who would can't qualify because of the higher interest rate.

ic2muchfraud 4/23/06 at 01:47 PM
Count me in as well. Just say when and where.

ic2muchfraud 4/23/06 at 02:04 PM

Maybe we should create a new post on this site just to make it more visible. Call it the MSF March on Washingtion or whatever. Set the date and location, etc. Give plenty of time for everyone to organize and save enough money to cover travel costs. But not so far off that people will lose interest. My guess would be around 9 - 12 months. What's your opinion?


ORGANIZE 4/23/06 at 02:43 PM

I think that would be more than enough time or even sooner is possible? For the ones that live on the east coast, time probably wouldn't be an issue. However, for victims that live central, far west and southwest, would probably need more time.

Maybe some of them are watching and will let us know their thoughts?


O - 4/23/06 at 02:53 PM
we need to go to the capital of each of our states, mine is Tallahassee Florida it's close enough for me to travel to and be able to afford the gold/gas to put in my car to get there and back.

just what day I'm ready!!!!!!

ORGANIZE 4/23/06 at 03:58 PM

Good Point!
Are we trying to change state laws or federal laws. In my opinion, we need both? What is everyone else thoughts on the subject?

O - 4/23/06 at 04:02 PM
we also need to pin this so it will be useful or something like it, so it can be found on the web easy.

any ideas?

ORGANIZE 4/23/06 at 04:10 PM
Good Idea!

We can run the article on google or any other websites out there to see how many responses we get?

pop tarts 4/23/06 at 04:18 PM

that's sounds good, someone at AOL is not to happy with predatory lending right now I bet they would help get this message out...

PMS Predatory Mortgage Servicing

GOT MILK? 4/23/06 at 04:25 PM
we need to get them to post it on all the web site's that are working on this same problem, the rip-off report, and others their are a lot of them, that would help.

we need a good date, like the 4th of July...

ORGANIZE 4/23/06 at 04:48 PM
Hey PMS that's really funny! To fourth of July, is this our march on Washington date?

GOT MILK? 4/23/06 at 05:13 PM
it would be easier to get to the capital of each state, then to Washington with gold/gas as high as it is.

I'm sure I can't get to Washington, but I would like to. I know I can get to my state capital.

GOT GAS? 4/23/06 at 05:18 PM

ORGANIZE 4/23/06 at 05:26 PM
Yeah! the gas thing is a real bummer. Did you hear one of the CEO's received a retirement package of $43 million dollars. This is why you can't make that trip to Washington, you gas money is going to his retirement.


GOT GAS? 4/23/06 at 05:37 PM
lol

Me 2 4/23/06 at 06:36 PM
The 4th of JULY 2006
How about this day, I am willing to be there!!!

Me 2
Fighting Against Predatory Mortgage Servicing!!!!!


Anonymous 4/23/06 at 09:24 PM
[QUOTE=ic2muchfraud]

Anonymous,You clearly don't understand Mortgage Servicing Fraud at all. [/Quote]

BS. I understand it plenty.

[QUOTE=ic2muchfraud]Do you honestly think people choose to sign up for sub-prime loans? [/Quote]

Who do you think signs for them?

[QUOTE=ic2muchfraud]Besides, that really doesn't matter anyway because even if they obtain a loan sub prime or not through an honest broker/bank in most cases they still have absolutely no control over who ends up servicing the loan. [/Quote]

But 99% of the servicing abuse comes in the sub-prime market. If the sub-prime market dies, the abusive servicers die too.

[QUOTE=ic2muchfraud]It is possible to obtain a loan with a company which, services their own loans but the interest rate for these loans are usually higher so most people choose not to and many who would can't qualify because of the higher interest rate.

[/QUOTE]

Wrong. You're confused about interest rates. Sub-prime loans are always higher interest rate loans. And very few companies service their own loans.

If we kill off sub-prime lending the Littons, Ocwens, EMC's and SPS's would die because the biggest part of their profit stream comes from foreclosing on sub-prime loans that shouldn't have been made in the first place.
Kill the loans, kill the servicers. It's really as simple as that.

Sinking Ships 4/23/06 at 11:50 PM
"But 99% of the servicing abuse comes in the sub-prime market. If the sub-prime market dies, the abusive servicers die too.

If we kill off sub-prime lending the Littons, Ocwens, EMC's and SPS's would die because the biggest part of their profit stream comes from foreclosing on sub-prime loans that shouldn't have been made in the first place.
Kill the loans, kill the servicers. It's really as simple as that."

Not true at all. It may make things more competitive in the servicing industry simply because there are fewer loans to be serviced but sub-prime loans and mortgage servicing fraud simply do not go hand in hand. In order to realize that all one has to do is read the prospectuses governing the REMICS and, more specifically, the pooling and servicing agreements between the note holder and the servicer also outlined in the prospectus. Regardless of the loans that make up a particular REMIC, if the language contained within the P&S gives the servicer carte blanche to create/keep any fees as additional compensation for servicing a loan then there is absolutely zero incentive for a servicer to keep a homeowner current in their loan. Would you, as a servicer, rather make $2.50 on a loan for your monthly servicing fee or $2.50 per loan PLUS another $50 (insert late fee amount here) in late fees - in simpler terms would you rather make $2.50 or $52.50 per month?

To put that into greater perspective, Fairbanks/SPS at one time serviced 750,000 loans per month. They claimed that, on average, 40% of their portfolio was in default at any given time. Just for simple math, say each loan was worth $1000 a month and the 5% late fee was $50. 750,000 loans bring in $1,875,000 per month based on a $2.50 servicing fee per loan (750,000 x $2.50) . And if 300,000 of those loan each generate a mere $50 late fee every month (300,000 x $50) that's an additional $15 MILLION that the servicer gets to keep as "additional servicing compensation" per the pooling and servicing agreement. Which would you rather make every month - $1.875 million or $16.875 million?

Where does the sub-prime lending market fit into those figures other than where I previously stated? As long as servicers can literally create their own profit there will always be someone around willing to make the money. Until the incentive to default a loan intentionally disappears there will always be the issue of mortgage servicing fraud to contend with.

belinda 4/24/06 at 01:20 AM
OK now we are talking!!!! I agree on a march about this. May I suggest this.of course a march at our states capitals is great.But as well as Washington too. What about since most of all are in a situation of money issues for travel etc. from each state a group like volunteers who can afford to go to DC to represent. Meaning each state comes up with a number through votes etc.To go... what I am trying to say some speakers for us that we vote or agree on. Of course we need to get the word out and not just sit and talk.This is a very smart site and I know that knowledge is power. Of course maybe donations we collect. Start some kind of nonprofit money raising to get buttons out whatever!! we can do it. You would be surprised at a bus company! might just sponsors from state to state( to bus us). We collect donations toward our march. HEY just about everyone has a mortgage and if they know it will benefit them too. I am sure they will help. I know,I know, I am just so excited that we are all pulling together to keep the American dream of owning our homes alive...
Belinda,,
yahooooo
Hey with me facing homelessness I have to think a covered bus is fine right now!!!
And I will be happy if my computers program would help me check my grammar and spell check.Had to sale the newer puter to pay mortgage company but can not see where they applied it lol.

LoneRose 4/24/06 at 03:50 AM
[QUOTE]all one has to do is read the prospectuses governing the REMICS and, more specifically, the pooling and servicing agreements between the note holder and the servicer also outlined in the prospectus. [/QUOTE]

I would like to know where I can find this prospectus, and how do I know which REMIC the loan is in, and I don't really know if I'm even saying this right.

To Anonymous,
I did not have a sub-prime loan. But just to give you an idea how bad things are for the borrower, when I asked my Broker if Countrywide was considered a sub-prime lender, he said, what's a sub-prime lender?

In effect, I knew more about mortgage servicing than he did. BUT, like I said I did not have a sub-prime loan. My closing costs were around 1500 Dollars, and I got a great APR, I also got all the terms I wanted for my loan. There was no pre-pay penalty or any features normally associated with sub-prime loans.

I sold my house (I call it house, since Countrywide made living there pure hell for me) because they were determined to cause default, one way or another. They were quite surprised, when they realized that I knew how to fight them, but that didn't stop them. From that moment on they just put up a wall of icy silence and tried to ignore me.

The last few months in that house made me almost have a nervous break down.

It doesn't matter what kind of loan you have, prime..sub-prime....it's all the same to a determined predator!

LoneRose

O - 4/24/06 at 06:38 AM
So how do we decide on a date?

Anonymous 4/24/06 at 09:21 AM

You can march all you want and make everybody aware but that won't change the laws and the lenders own Washington lock stock and barrel. The housing industry is huge and when people stop borrowing the lenders will have to cut back. Employees will be let go and fewer people will have their homes stolen from them. The law isn't going to change so the loan documents have to.

NEVER SIGN A LOAN THAT CAN BE SERVICED BY: EMC MORTGAGE, LITTON LOAN, OCWEN or SPS. Get a clause written and put in that says the loan will be automatically rescinded if the loan or the servicing rights are sold to any of them. If they don't accept the clause and the loan documents allow it to be sold to any of those, DON'T TAKE OUT THE LOAN. PERIOD.

It's really that simple. If your loan broker won't let you put that in, tell them you won't do business with them and walk away.

O - 4/24/06 at 09:32 AM

Anonymous, what would you say we do?

O - 4/24/06 at 09:34 AM
since we can't go back in time?

Sinking Ships 4/24/06 at 10:09 AM

LR, as far as finding if your loan is in a REMIC if the assignment has made it to the registry to be filed that info should be contained therein. I say IF because servicers seem to have a nasty habit of waiting 1, 2 even FIVE years before they file assignments in some cases. Many times assignments are only filed ahead of a foreclosure sale simply in order to make the sale legal. Otherwise, I don't think the paperwork would EVER make it to the county registries.

Once you find out if your loan has been bundled you can search the Securities and Exchange Commission's site ( www.sec.gov ) for info. Once there search for company filings. You'll most likely want to look under your note holder for info and you'll want to pay particular attention to 10-Ks and 8-Ks. Depending on the age of the REMIC a phone call to the SEC may be necessary in order to get the right info.

DHW 4/24/06 at 01:24 PM
to Anonymous: I don't remember anyone asking me my choice before they sold my mortgage servicing .....that is how you wind up with the crappy fraudulent servicers. And as someone said elsewhere on this board, I think, it seems to be the people with a great deal of equity that are gone after as targets....I didn't start with a sub-prime mortgage, but due to the servicers and changes, and fradulent and exorbitant charges they kept piling on and not accounting for my payments of them properly, would up being in that category....


ORGANIZE 4/24/06 at 05:25 PM
Hey Belinda!Good idea to protest in Washington. By the way were do you live?

Dear Friend, Call your FBI, Attorney General, and your News Media to make your complaints. Call,and, go down to you local station. Tell them your story. Keep notes on every phone call you make on your case. Futhermore, write to Ameriquest, and demand copies of you mortgage contract.(Look over you signatures and dates)

Mail the letter certified return-receipt with signature. Mail it to the Town and Country RD address. This way it does not go to a PO BOX. You want it signed by a Office Manager. In that letter DEMAND that they send you a copy of your appraisal of your home.

This is very important. If you did not receive your copies of your contract(signed), and it is over your seven days they gave you? The law states that because, they did not hand you copies of your contract-you now have a Three-year Resin on your contract. Meaning? You have up to Three years to decide if you want to keep this mortgage, or look for another one. I would not wait.(Mortgage Company)

Get you self an attorney right away. If you can not afford one? Call your Legal Aid in you Town. It is Pro-Bono. They well help.

And there is a great book that Rip-Off has, it is call RIP-OFF REVENGE, Buy it, it has help me.
I just did my second revenge yesterday, and had my money back today. No! Kidding!

And for Doug from NJ- why dont you respond to your consumer comment on your report.We would love to have your help?

I used to work for Ameriquest. As an ex-employee you ane not privy to the real goings on until a period of time goes by. By then, you either stay there and turn a deaf ear, or you get out and try to help those people who got ripped off. I do that now as I am a mortgage broker that goes out of my way to get people away from Ameriquest and get them into low rates mortgage loans. If I can help you contact me through this website.
Good luck to all those Ameriquest clients...and dont give up the fight!