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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)
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 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                                        10013
- ------------------------                                        -----
(Address of Principal Executive Offices)                      (Zip Code)


Registrant's telephone number, including area code: 714-564-0660

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                                       -2-


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


Description of the Certificates and the Mortgage Pool

         As of the date hereof, Ameriquest Mortgage Securities Inc. (the
"Registrant") has caused to be filed with the Securities and Exchange Commission
(the "Commission") pursuant to the Commission's Rule 424 a Prospectus Supplement
to its Prospectus, dated November 11, 2002, in connection with the Registrant's
issuance of 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 January
1, 2003, among the Registrant as depositor, Ameriquest Mortgage Company as
master servicer and Deutsche Bank National Trust Company as trustee. The
Certificates 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 segregated pool (the "Mortgage Pool") of
conventional, one- to four-family, first lien fixed-rate and adjustable-rate
mortgage loans having original terms to maturity up to 30 years (the "Mortgage
Loans").

Computational Materials

         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 "Computational Materials,"
in written form, which Computational Materials are in the nature of data tables
and term sheet information relating to the Mortgage Loans or other assets of the
Trust Fund, the structure of the Certificates and terms of certain classes of
Certificates, and the hypothetical characteristics and hypothetical performance
of certain classes of Certificates under certain assumptions and scenarios.

         The Computational Materials have been provided by the Underwriter. The
information in the Computational Materials is preliminary and will be superseded
by the Prospectus Supplement relating to the Certificates and by any other
information subsequently filed with the Commission.

         The Computational Materials were prepared by the Underwriter at the
request of certain prospective investors. The Computational Materials 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                          Computational Materials (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
    -----------                                  -----------                                     -------------
                                                                                           
        99.5          Computational Materials (as defined in Item 5) that have                         P
                      been provided by Morgan Stanley & Co. Incorporated to
                      certain prospective purchasers of Ameriquest Mortgage
                      Securities Inc. Asset-Backed Pass-Through Certificates,
                      Series 2003-2.


















                                  EXHIBIT 99.5


                                [FILED BY PAPER]