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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    Form 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): February 14, 2003


                       AMERIQUEST MORTGAGE SECURITIES INC.

            (AS DEPOSITOR UNDER THE POOLING AND SERVICING AGREEMENT,
           DATED AS OF FEBRUARY 1, 2003, PROVIDING FOR THE ISSUANCE OF
             ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2003-2)


                       Ameriquest Mortgage Securities Inc.
                       -----------------------------------
             (Exact name of registrant as specified in its charter)
- --------------------------------------------------------------------------------




           Delaware                333-99117                  33-0885129
           --------                ---------                  ----------
(State or Other Jurisdiction      (Commission             (I.R.S. Employer
of Incorporation)                 File Number)            Identification Number)

1100 Town & Country Road, Suite 1100
Orange, California 92868                                          92868
- ------------------------                                          -----
(Address of Principal Executive Offices)                        (Zip Code)


Registrant's telephone number, including area code:  (714) 564-0600










                                       -2-

Item 5.  Other Events
         ------------

Description of the Mortgage Pool

         Ameriquest Mortgage Securities Inc. (the "Registrant") plans a series
of certificates, entitled Ameriquest Mortgage Securities Inc., Asset-Backed
Pass-Through Certificates, Series 2003-2 (the "Certificates"), to be issued
pursuant to a pooling and servicing agreement, dated as of February 1, 2003,
among the Registrant as depositor, Ameriquest Mortgage Company as master
servicer and Deutsche Bank National Trust Company as trustee. The Certificates
to be designated as the Series 2003-2 Certificates will represent in the
aggregate the entire beneficial ownership interest in a trust fund (the "Trust
Fund") consisting primarily of a pool (the "Mortgage Pool") of conventional,
one- to four-family, first lien adjustable-rate and first lien fixed-rate
mortgage loans having original terms to maturity up to 30 years (the "Mortgage
Loans").

Collateral Term Sheets

         Morgan Stanley & Co. Incorporated (the "Underwriter") has advised the
Registrant that it has furnished to certain prospective purchasers of
Certificates certain materials, herein referred to as "Collateral Term Sheets",
in written form, which Collateral Term Sheets are in the nature of data tables
and term sheet information relating to the Mortgage Loans or other assets of the
Trust Fund.

         The Collateral Term Sheets have been provided by the Underwriter. The
information in the Collateral Term Sheets is preliminary and will be superseded
by a prospectus supplement relating to the Certificates and by any other
information subsequently filed with the Commission.

         The Collateral Term Sheets were prepared by the Underwriter at the
request of certain prospective investors. The Collateral Term Sheets may be
based on information that differs from the information set forth in the
prospectus supplement.






                                       -3-

Item 7.  Financial Statements and Exhibits
         ---------------------------------

              (a)      Not applicable

              (b)      Not applicable

              (c)      Exhibits


         Exhibit No.                                  Description
         -----------                                  -----------
             99.1                   Collateral Term Sheets (as defined in Item
                                    5) that have been provided by Morgan Stanley
                                    & Co. Incorporated to certain prospective
                                    purchasers of Ameriquest Mortgage Securities
                                    Inc., Asset-Backed Pass-Through
                                    Certificates, Series 2003-2.








                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

Dated: February 14, 2003


                                     AMERIQUEST MORTGAGE SECURITIES INC.


                                     By:     /s/ John P. Grazer
                                             ---------------------------
                                     Name:       John P. Grazer
                                     Title:      CFO










                                                 Index to Exhibits
                                                 -----------------




                                                                                                 Sequentially
     Exhibit No.                                 Description                                    Numbered Page
     -----------                                 -----------                                    -------------
                                                                                          
        99.1           Collateral Term Sheets(as defined in Item 5) that                              P
                       have been provided by Morgan Stanley & Co. Incorporated
                       to certain prospective purchasers of Ameriquest Mortgage
                       Securities Inc., Asset-Backed Pass-Through Certificates,
                       Series 2003-3.















                                  EXHIBIT 99.1

                                [FILED BY PAPER]