Posted by Shane_OH on 5/2/06 4:32pm
Msg #117279

Ameriquest - I was on the front lines....

Well I was in a branch this afternoon, when security officers entered with 3 people from AQ's Human Resources.

Nothing was allowed to leave the branch, with a small exception of personal effects. The branch was closed within 30 minutes. (I had 4 closings scheduled for them today). Boxes were being packed up, and they stopped me from leaving with my closing packets.

Here is where it gets interesting...

The HR folks called back to corporate to find out if it was okay to still allow those loans to close, and to report that the branch had been successfully closed. Once they reported the branch was closed, they were told their positions were eliminated as well. So they even eliminated the people they sent to close up the branches.....

Rumors are they will become a 4-5 site call center, to cover the nation...

Reply by cyndi_ca on 5/2/06 4:38pm
Msg #117281

Oh MY GOSH!!! Kinda freaky. It reminds me of when I worked for a telemarketing co. 30 cops showed yp at 7:00 am. Yup, a raid. Guess the co was doing something illegal. Imagine those HR people...... Aaaaahhhh.

Reply by Tina/Idaho on 5/2/06 4:51pm
Msg #117284

About 3 1/2 hours ago got a call from Ameriquest in Boise, ID. Signing was scheduled yesterday for today. The signing is being postponed until the corporate office calls to reschedule. Their office doors are closed, all office staff is laid off.

Reply by Calnotary on 5/2/06 5:31pm
Msg #117293

So this means Vital Signings are not getting anymore loans?

Reply by Ndwa on 5/2/06 6:51pm
Msg #117303

Link to news released

http://seattlepi.nwsource.com/business/1310AP_Ameriquest_Cuts.html

Reply by Restless on 5/2/06 7:51pm
Msg #117312

WOW. I can't imagine being at a place when it's shut down RIGHT NOW.

Guess the interest rates have taken a toll on the mortgage business. This will good in the long term. Good thing we're independent contractors.

Reply by carlos/nyc on 5/2/06 8:14pm
Msg #117318

My questions is...is this good news for us signing agents or bad news??????????????????
Inquiring minds want to know.

Reply by NCLisa on 5/2/06 8:35pm
Msg #117325

If the company would close down altogether, I'd call that good news. After Ameriquest closing 4 or 5, I just stopped doing any business with them. They were all bait an switch.

Reply by MichiganAl on 5/2/06 11:27pm
Msg #117349

It couldn't happen to a more deserving group of people.

Karma for every person they've scammed, cheated, lied to, swindled, hoodwinked, and just plain screwed. I hope it's a lesson learned. Their company didn't care about them any more than they cared about their borrowers. And I hope other companies in the industry see Ameriquest on their resume and slam the door in their faces.

Reply by LawrenceOK on 5/3/06 7:04am
Msg #117357

Re: It couldn't happen to a more deserving group of people.

I totally agree Al. AQ was the worst out there. We all know of a few low paying SS's that handled almost nothing but AQ loans, now they also will be next in line to go.

Reply by SueW/Tn on 5/3/06 8:16am
Msg #117362

I agree Al, you took the words right out of my mouth

After I saw what their operation was all about I quit doing their loans. Few out there are as "in your face" as this bunch. While I truly hate seeing people lose their jobs, I didn't think anything could stop this speeding train. Karma at it's finest!

Reply by LauraV on 5/3/06 7:28pm
Msg #117556

What a lovely image

AQ and low-pay SSs going out of business.

Sweet.

Reply by Dlars_FL on 5/3/06 11:02am
Msg #117424

AMERIQUEST'S AMBASSADOR OF DOOM

More to this story than meets the eye. What goes around, comes around, eh?

http://www.nypost.com/business/67937.htm