Ameriquest was among the largest, if not the largest sub-prime mortgage lender in the United States until it was shut down in September 2007. The situations that make it an ethical dilemma or ethical concern for the Ameriquest business is that, data were fabricated; documents were forged and fees were hidden as well from customers. At Ameriquest," they always go with the slogan that says we are running a straight forward company and “never forget that our customers deserve respect, fairness and honesty (Ameriquest fabricated data,forged document and hide fee, 2005).
The links, See more at http://publicgroups.org/misc.consumers/lat-ameriquest-fabricated-data-forged-document/224148#sthash.W4AEiiIc.dpuf.
Explain how the business you chose acted in terms of the business ethics information you learned about in the readings and videos in Unit 5. In what ways did the business not follow the principles of ethics you have learned about?
Ameriquest business did not follow the principles of ethics because the employees and customers are not well treated by the company, they practically forged documents, overestimated customers ' creditworthiness and "juiced" mortgages with hidden rates and fees. Dishonestly, the manager at Ameriquest encourages their employees to promise certain interest rates and fees to customers, but at later on changes those rates at the closing time. Based on Ameriquest business culture, they fabricate the income of borrowers and forged appraisals to make loans go through. According to Brien Hanley, one of the former loan agents at the company 's Leawood, Kan, branch stated that, for example if you say that …show more content…
In other words, we are looking for you to explain what you would have done differently, based on what you have learned if you had been presented with your business ethics
The links, See more at http://publicgroups.org/misc.consumers/lat-ameriquest-fabricated-data-forged-document/224148#sthash.W4AEiiIc.dpuf.
Explain how the business you chose acted in terms of the business ethics information you learned about in the readings and videos in Unit 5. In what ways did the business not follow the principles of ethics you have learned about?
Ameriquest business did not follow the principles of ethics because the employees and customers are not well treated by the company, they practically forged documents, overestimated customers ' creditworthiness and "juiced" mortgages with hidden rates and fees. Dishonestly, the manager at Ameriquest encourages their employees to promise certain interest rates and fees to customers, but at later on changes those rates at the closing time. Based on Ameriquest business culture, they fabricate the income of borrowers and forged appraisals to make loans go through. According to Brien Hanley, one of the former loan agents at the company 's Leawood, Kan, branch stated that, for example if you say that …show more content…
In other words, we are looking for you to explain what you would have done differently, based on what you have learned if you had been presented with your business ethics