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Ide the processor through each loan's creation and immediately reject those borrowers who can't legitimately qualify for a loan. But software is only as good as the people using it. And in the case of Ameriquest, safeguards appear to have been bypassed by an overriding desire to drive up volume of loans& 151;even if it meant lending to less creditworthy customers who might lose their homes in the end. Ameriquest has been paying the price, in court cases that have already cost it more than $100 million. And company officials have set aside another $325 million to settle other lawsuits on the horizon. Story Guide: Ameriquest Home Loans: Cracking Under Pressure: Even in a fertile market, it's possible to set your sales goals too high. Loan Rangers: Ameriquest became unusually successful digging up loan candidates others may have overlooked. Settling Up: Ameriquest's hard-sell tactics worked but, say investigators, violated a series of consumer-protection laws. Riding the Sub-Prime Wave: As the house market heated up, borrowers stretched themselves to foreclosure-threatening lengths; and lenders helped them. No-Touch Funding: Believing in your applicants can go too far, and get you both in trouble. Who's to Say: Automation was supposed to make loan approvals faster, easier and more accurate; did the system fail, or did the officers handling the loans? Tighter Controls: Making requirements stiffer only works if enforcement gets tighter as well. Penalties for Abuse: Ameriquest denies wrongdoing, relies on IT for process improvements, and may face penalties in the hundreds of mill
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