Ameriquest rose to national prominence as a large subprime and nonconforming mortgage lender after its 1979 founding by Roland Arnall. Aggressive marketing and automated processes drove growth but also regulatory scrutiny. A 2006 multistate settlement (commonly reported as $325 million) forced changes to business practices and contributed to the company's withdrawal from consumer-facing retail origination.

Overview

Ameriquest Mortgage was a major independent mortgage lender founded in 1979 by Roland Arnall. The company grew rapidly through the 1990s and early 2000s, becoming one of the best-known providers of nonconforming and subprime loans in the United States.

Business approach and marketing

Ameriquest became widely visible through heavy advertising and a large retail origination footprint. The company invested in automated borrower screening and sales operations that aimed to speed loan approvals and push volume through both company branches and independent brokers.

Ameriquest also engaged in community and youth-oriented giving tied to local programs and charities, and described small-business support as part of its outreach. Specific donation amounts and programs have been reported in the past but vary by source.

Legal controversy and the 2006 settlement

Like many subprime lenders of the era, Ameriquest faced intense regulatory scrutiny for underwriting, sales practices and loan documentation. In 2006 the company reached a national settlement with state attorneys general that required monetary payments and changes to its business practices. The widely reported settlement figure was $325 million.

Ameriquest had earlier legal encounters as well; a number of prior settlements and lawsuits are cited in public records. Several historical settlement amounts and dates are referenced in older reports but require verification against contemporary legal filings. 1

Following the investigations and the national agreement, Ameriquest shifted its origination strategy to reduce consumer-facing retail operations and rely more on wholesale channels and brokers. Sources differ on the precise timing of the retail-branch closures and the operational transition. 2

Later developments and legacy

Roland Arnall, the company's founder, remained a public figure until his death in 2008. After the mid-2000s regulatory actions and market changes, the Ameriquest brand and its retail lending presence diminished significantly. The rise and fall of Ameriquest is often cited as an example of the rapid expansion and subsequent regulatory correction in the subprime mortgage market.

What to take away

Ameriquest's history illustrates how rapid growth and aggressive sales models in nonconforming lending attracted regulatory attention. The 2006 multistate settlement is a central event in the company's public record and a key part of how Ameriquest is remembered in discussions of pre-2008 mortgage lending practices.
  1. Confirm Ameriquest's headquarters location and any major donation amounts cited in older reports (for example the $216,000 figure).
  2. Verify the details and dates of earlier legal settlements attributed to Ameriquest (for example a reported 1996 $3 million DOJ settlement and a 2001 $360 million settlement) against court and attorney general records.
  3. Confirm the exact timing and scope of Ameriquest's retail-branch closures and the company's formal change to wholesale/broker origination channels.

FAQs about Ameriquest Mortgage

Who founded Ameriquest and when?
Ameriquest was founded by Roland Arnall in 1979.
What was the 2006 settlement about?
In 2006 Ameriquest reached a national settlement with state attorneys general over lending and sales practices; the commonly reported settlement amount is $325 million.
Did Ameriquest close its retail branches?
After the mid-2000s investigations and settlement, Ameriquest shifted away from consumer-facing retail origination toward broker and wholesale channels. Reported timing for the branch closures varies by source.
Was Ameriquest involved in charitable work?
Ameriquest publicly supported community and youth programs and described initiatives to assist small businesses, although specific donation details vary across reports.
What is Ameriquest's legacy?
Ameriquest is remembered as a symbol of rapid expansion in subprime lending and of the regulatory response that followed - particularly the large multistate settlement and the company's subsequent operational changes.

News about Ameriquest Mortgage

EPM promotes Anjanette Valenta to chief people officer - HousingWire [Visit Site | Read More]

No. 2 of The Subprime 25: Ameriquest Mortgage Co./ACC Capital Holdings Corp. - Center for Public Integrity [Visit Site | Read More]

Former Ameriquest Workers Tell of Deception - NPR [Visit Site | Read More]

5 commercials for subprime mortgage loans from before the financial crisis - The Week [Visit Site | Read More]

Inside the Mortgage Monster - Truthout [Visit Site | Read More]

Workers Say Lender Ran ‘Boiler Rooms’ - Los Angeles Times [Visit Site | Read More]

Ameriquest Settlement: Who's At Fault For Mortgage Meltdown? - CNBC [Visit Site | Read More]

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