Mortgage Ratings - Ameriquest Mortgage Ratings

Ameriquest Mortgage Ratings

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I loved my Ameriquest Experience

My wife and I recently refinanced our mortgage with Ameriquest. I wasn't sure what to expect, but was surprised by the knowledge and friendliness of our loan agent. Even if he couldn't answer our questions, he was quick to return a phone call with any additional information that we needed. He stood behind his word and was extremely reliable in his service efforts. We had a lot of questions as this was our first mortgage re-fi, but we felt he was honest from the beginning and answered every question that we had. He definitely had done this many times before.

Basically, everything went smoother than we anticipated. They were pretty responsive to our needs especially when it came to submitting the correct paperwork. Most everything seemed to fall into place without too much hastle (which was not what we had expected)!. I had read some mixed reviews with Ameriquest, but I have nothing bad to say about the loan officer we worked with when we refinanced our mortgage. I've heard that not all of their loan managers have high attention to detail, but we were lucky enough to get someone who know what he was doing.

Even after everything was said and done, the followup calls let us know we were in good hands. Most companies push you out the door once a contract is signed, but he was very attentive to our needs and followed up regularly to make sure we were okay. He even managed to send a personal hand written Thank you note, which is rare in this day and age.

I don't have a bad thing to say about Ameriquest. They exceeded our home refinancing expectations in every way!

Not impressed

I refinanced my adjustable mortgage with Ameriquest and so far I'm not impressed. They seem more concerned about the quantity of loans verses the quality of service that they provide in exchange. Dealing with customer service is difficult and time consuming. I spend hours each month over dumb little details.

Another class action lawsuiter here

'Long story short. Ameriquest over appraised my property, lied to me, was dishonest in the closing procedure and robbed me out of 30,000 worth of equity. DO NOT WORK WITH THIS COMPANY!

Ameriquest? - Never Again!

I had tried to refinance with other companies, but no one would give me a fair rate. Although I have bad credit, Ameriquest was able to give me the loan that I needed to consolidate my credit cards. Maybe it was just my bad credit, but I was disappointed in the rates they gave me. I ended up with more closing fees than anticipated and had to pay a prepayment penalty that was never disclosed. I guess I should have read the fine print.

Stay Clear of Ameriquest

My husband and I recently refinanced our mortgage at 5.5% through Countrywide Funding. Being encouraged by the equity in our home, a few months later we decided to look into a home equity loan.

I'd seen the Ameriquest ads on TV touting "At Ameriquest, we know you are more than just your credit score..." We have had some late payments in the past, but have never filed bankruptcy nor defaulted on anything. We experienced some cash flow issues when my husband attempted to start a business. Certainly an "explainable" reason for some late payments. To top it off, we paid off all of our debt with the exception of our 2 cars when we refinanced. (In hindsight I wish we had "cashed out" more with Countrywide.)

So, we applied online to Ameriquest and lo and behold got a call back that evening! (Seemed this company was on the ball..) But then...

I gave some info about our income, etc. to the young man on the phone. He then ran my credit history and started asking me about past loans like an auto loan to Honda Motors. (??? This was paid off completely in 1992!! How is a 12 year old auto loan relevant to my current credit history?) He seemed confused regarding our current situation, and BALKED OPENLY at the prospect of getting a home equity loan through Ameriquest. He then went on to question the truthfullness of my report that we had just refinanced through Countrywide at 5.5% stating "I find that hard to believe given your credit score." (!) OK, so we don't have perfect credit..But we have been working tirelessly to change that, paid off our debt, have not taken on any more credit, etc. Besides, I told him, Ameriquest advertises it provides loans for people with credit problems. He refused to comment on this. Apparently, I am NOT more than my credit score. Never mind the fact my husband and I have secure professional jobs, make a solid six-figure salary, and live WELL within our means. None of that matters to Ameriquest. Their claims of what they provide are fraudulent at best.

I asked the client representative to at least try to find out more info for us. The ensuing silence speaks volumes. They have no desire whatsoever to do business with us. Frankly, at this point I would refuse any offer just on principle.

More than my credit score? Apparently NOT.

Steer clear of Ameriquest.

Predatory lending practices

Back in 10. 2005, I refinanced my loan to Ameriquest. All seemed to be going well, but, the Appraiser said my property was worth $99,000. WRONG. I saw in the news that Ameriquest Mortgage had a $525 million dollar law suit filed against them for their Predatory Lending Practices.

I have tried to Refinance My Mortgage, to no avail. I ran into some financial problems with somoene accessing my checking account and had some fraud take place. My accounts were frozen.

I called Ameriquest and was told that If I failed to pay my mortgage, they would foreclose. They did, and, last Month, they had a Sheriffs Sale. Guess who the party that bought my property was, none other than W M Mortgage Specialty, which I believe is a Division of Ameriquest AC Capitol Holdings. Weird, huh?

Currently, my lawyer is working with them so that I can stay in my house, and to pay rent. Do not go with Ameriquest Mortgage Company.

Ameriquest messed up and is suing me

I’ve been fighting with Ameriquest for over 12 months now. Through this time Ameriquest has lied to us and denied all liability toward their regulatory violations. Back in 2004 we refinanced our home with these crooks. I owed $60,000.00 on the home at that time. They came in and said our home was worth $113,000.00 and gave us a loan for $90,000.00. We used the extra 18,000.00 we got back to do repairs and much needed home improvement (The Ameriquest Rep told us the house would be worth even more after these updates/repairs). Last year we tried to put our house on the market and discovered through a reputable Realtor that the house would only sell for $70,000.00 to possibly $73,000.00. The actual re-appraisal Ameriquest did two months ago came in at less than $75,000.00 (Ameriquest still will not tell us us the actual number).

Ameriquest has lied about many things in regards to our home loan. Not only the fair market value of the home, but also through the short-sale process we are going through. They gave me the option to withhold payments while they were investigating and said during this process they would cease all collections and reporting activity. Yesterday I received their (Ameriquest )reply to some of my complaints. Their legal team told me again that all collection and reporting activity had ceased since July of last year. Well, today I received a notice from Ameriquests Attorney that they are suing me for all those payments. They also have it reported on my credit report.

A solid recomendation

I have nothing but positive things to say about Ameriquest Mortgage. I filled out the online web forms, received a call within an hour, and got a verbal authorization within hours. I told them it would take 2 weeks for me to get all of the necessary paperwork in place, but they still locked in my rate until then. Well Done Ameriquest.
3 days went by and we finally received our paperwork, sent it back, and were approved within hours. The whole process that day took only a few hours. I've been recommending Ameriquest to my neighbors, one who is facing a home foreclosure due to his adjust mortgage ending, and he is in the middle of the process right now and seems to be pretty happy.

Go Ameriquest!

Easy, Friendly, and Great Service

I wanted to escape my high interest loan , so I tried Ameriquest for the heck of it.

I was a bit shocked when they called me the next day with a variety of options to meet my needs

They were very upfront, and straight forward. I didn't have to supply thousands of documents to get things moving. Most mortgage lenders want a stack of paperwork as high as the ceiling.

My loan officer turned out to be extremely knowledgable and friendly and stayed in constant contact with me via phone and email. He even gave me his home phone number to reach him after hours. I ended up calling him a few times, and he sounded almost too excited to hear from me. In the end though I felt comfortable knowing that I was being taken care of properly.

Ameriquest mortgage couldn't have been easier. The interest rate I received was significantly llower than what I was paying at the time which lowered my monthly payments substantially, and I was even able to get some cash back through a small HELOC which took care of some projects around the house that were desperately needed.

Ameriquest Mortgage was an amazing company to work with - honestly. Everytime I see my monthly statement, I'm shocked at how much less I'm paying. Their statements are straight forward, clear, and easy to read. I would highly recommend Ameriquest Lending for anyone looking for a great interest rate on a mortgage.

Ameriquest was a disaster

I used Ameriquest mortgage to re-finance my mortgage and it was a disaster. They tease you when you at desperate to survive and claim that they can help you and make all of your financial problems go away. They tease you with good interest rates, but then add on all kinds of fees and hidden costs. By the time you pay all of the hidden fees and costs, you might as well just go to a local bank. Ameriquest customer service isn’t that great either. They would call and harass me even if I was a day late on my payment! It took about a year, but as soon as I could, I refinanced my ARM with a better lender. Don’t trust Ameriqwest mortgage. Other Ameriquest reviews seem to share my experience as well.

Another Ameriquest complaint

I’d like to begin by letting everyone know that I normally don’t complain about companies online, but felt that I needed to after reading many Ameriquest complaints.

I used Ameriquest to refinance my ARM loan last year and everything went well. The problems began after we were finally approved when they would not return phone calls promptly. I would call the Ameriquest customer service number over and over trying to reach someone that could help, but usually was greeted by rude agents or people that didn’t know what they were doing.

They ended up increasing our monthly bill randomly and my husband and I still can’t figure out why. It has been 3 weeks and I still have not received a phone call back from my Ameriquest Loan officer.

Ameriquest customer service is one of the worst departments I have ever dealt with. They don’t return phone calls, they have miscalculated my payments numerous times, and have charged me several hidden fees without a single explanation. Count this as another Ameriquest mortgage complaint.

We were totally deceived

I feel that I was deceived into getting an Ameriquest HELOC. My family has had some financial problems and Ameriquest offered us a loan that seemed to good to be true. It now turns out that our loan has nearly doubled due to the interest rate adjusting and we many now possibly lose our home. They never told us the seriousness of such a dangerous loan. My payment is now well over $3,000 a month which is more than I currently make. My husband and I are both working demeaning 2 nd part time jobs to pay for our house. It does not look good.

Watch out for hidden fees and pre-payment fees.

I refinanced my mortgage in ‘05. After I had talked with an Ameriquest loan rep, they advised that I should take out an interest only loan. I told him that I wasn’t too comfortable taking out a risky loan as I could tell that the market was slowly starting to change. He basically made me feel like an idiot for not being hip with the times and assured me that I could always refinance an ARM to a FRM.

They assured me that this is a very simple procedure and that Ameriquest customers do it all of the time. I was told that I would receive some paperwork and information in the mail; however, it never came. I called and left 3 messages before finally getting a call back. It turns out that they mailed it to the wrong address. Well, after having my loan straightened out and about 10 months later, I decided it was time to refinance my ARM. Well, I found out that there are hidden loan fees and prepayment fees that I was never made aware of. I called to complain about this to my loan agent and after about a dozen phone calls and no response. I pretty much gave up. I ended up sticking with them to avoid the Ameriquest prepayment penalty that they charge. In a way I feel a bit tricked into this loan and now I can’t get out unless I pay them more money.

A Few Hassles Along the Way

About 2 years ago, we started looking around at various mortgage brokers to refinance our mortgage. We ended up trying out Ameriquest as they had initially come back with the lowest interest rate compared to some of the local companies we were looking at.

I told them upfront what exactly what we wanted and they outlined our statements including taxes, payments, interest, etc. My husband and I were pretty excited to see that this was going to work.

Everything seemed to be going okay, however, after the appraisal they came back and said that our home came in about $5,000 less and that we would need to revise some of the paperwork. We redid some of the paperwork, and ended up with a pretty similar rate. Our monthly payment is slightly higher, but it will be taken care off.

Overall, I have a mixed Ameriquest review. They told us one thing, but then ended up doing another. If you’re considering Ameriquest, do your homework and make sure that what they promised is being delivered. Have a lawyer look over anything and everything. I’ve read some pretty nasty reviews on Ameriquest and consider myself lucky. Definitely shop around before you finalize anything.

Look Elsewhere

My wife and I moved into his mother’s home a few years back as she needed someone with her there 24/7 to care for her health. We were in between homes waiting for our new one to be built and decided that we would put some work into my mother in law’s home that was badly needed. We decided to take out a HELOC through Ameriquest and we had to get things together fast. We got all of our paperwork and documentation prepared quickly including some missing form that was requested at the very last minute. Finally, we closed the loan. A lawyer came to our house with all of the paperwork and told us that it would be about a week for us to receive our check. After a week went by and we hadn’t received our check I called our loan officer to investigate. It turns out he said we were missing one more paperwork and that they would fed ex us a check as soon as it was signed. We did this, and again, no check. We called him back and they didn’t know what happened. We were told that due to the delay they would be able to wire us the money directly into our bank account.

Well 2 more weeks went by (after closing) and we found out that Ameriquest didn’t want to go through with our loan because the house was appraised for ‘much more than it was really worth’ – This was AFTER it had been approved and appraised. After 2 months or so went by and the deal was closed, they ended up paying some of our late fees and actually made our first payment for messing up on their end. This was nice of them, but again, should have never occurred in the first place. I can’t say I’d recommend them, but in all honestly the (eventually) held up their part of the agreement.

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