Mortgage Company Guide

Mortgage Company Reviews Section


 

Mortgage Company Reviews Navigation

Mortgage Guide Home Page
Partners
Tell A Friend about us
Michigan Mortgage Company |
EverHome Mortgage Company |
Countrywide Mortgage Company |
Ameriquest Mortgage Company |
Ameriquest Mortgage Company |
Mortgage Company Virginia |
Home Loan Mortgage Company |
Countrywide Mortgage Company |
Company Mortgage |
CitiFinancial Mortgage Company |
Bad Credit Mortgage Company |
CitiFinancial Mortgage Company |
Home Mortgage Company |
GMAC Mortgage Company |
Countrywide Mortgage Company |

List of Mortgage-Company Articles

Mortgage Company Reviews Best seller

Buy it Now!



Best Mortgage Company Reviews Products



"Legit Online Jobs" - Click Here To Start Earning Today!


Ovation Credit Services
Check out Ovation Credit Services ... Fix your credit profile today! Ovation specializes in credit report repair. This is an awesome program. They get fantastic results and you'll be amazed at the low monthly fee. Highly recommended!


"How To Get A Mortgage"
Terrific resource on obtaining a mortgage, even if you've been foreclosed or filed bankruptcy. On sale now for only $10.00!


Click Here!


Loan Officer 101 Loan Officer Training. Learn How To Make $100,000 Per Year As A Loan Officer With This 18-lesson Training Program, Complete With 28 Marketing Ideas - Now Is The Time To Prepare For The Next Wave Of Lending!

Click Here!


Personal Loans & Visa Approved At Abacus
Offering Personal Loans, Credit Cards For The Credit Impaired.


Click Here!


Mortgage Secrets For Investors
Mortgage Secrets For Real Estate Investors E-book. Stop Getting Bullied By The Banks And Start Closing Your Investor Loans!

Click Here!


Bad Credit Personal Loans Regardless Of Bad Credit - Up To $25,000
Click Here!



Sitemap



Social bookmarking
You like it? Share it!
socialize it

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Mortgage-Company
Email:
First Name:



Main Mortgage Company Reviews sponsors


 



Newest Best Sellers


 

Welcome to Mortgage Company Guide

 

Mortgage Company Reviews Article

Thumbnail example. For a permanent link to this article, or to bookmark it for further reading, click here.

What happened to the Ameriquest Mortgage Company?

from: Mortage & Debt Facts



The Ameriquest Mortgage Company was one of the leading lenders in the United States lending scene. Founded in 1979 in California as a bank then called Long Beach Savings and Loan, it was converted to become a mortgage lender in 1994 and was renamed Long Beach Mortgage Co. The business had two divisions with its retail part being privately run and called Ameriquest Capital. Its wholesale part was publicly traded and was called Long Beach Mortgage.

The Ameriquest Mortgage Company was a private company owned by Mr. Roland Arnall of ACC Capital Holdings. By 1999, Washington Mutual bought Long Beach Mortgage. In 2007, Citigroup acquired the wholesale division of the Ameriquest Mortgage Company.

It was one of the first mortgage companies to employ computers in doing business. This was an effective way of speeding up the processing of loans. Ameriquest Mortgage Company’s services included providing business solutions, direct loans, seeking alternatives for effective business relations and providing financial and educational means to its customers.

When Ameriquest Mortgage Company was still engaged in business, they used to offer two types of mortgages. These were the Fixed Rate Mortgage and Adjustable Rate Mortgage. Fixed Rate Mortgage has a fixed interest rate and only a single monthly payment for principal and interest for the entire loan period. The Adjustable Rate Mortgage was viable for people who tolerated high risk and wanted lower initial monthly payments.

The company was well-known in the United States since it was well advertised through television, blimps, and its sponsorships of concerts and NASCAR drivers. They even had a slogan stating that they were the proud sponsor of the American dream.

Ameriquest was also widely known for its community programs and charitable works. They believed that homeownership, youth development and financial literacy were the building blocks of ideal communities. And with this belief, they created specialized programs for each block. For financial literacy, Ameriquest created programs that help young people to develop planning and money management skills. Homeownership programs invested efforts to provide low income families a chance to own their very own homes. Youth development supported educational services and geared programs to give young adults the tools in becoming productive people.

During the later part of 1995, Ameriquest got into trouble with its customers since they complained of fraudulent mortgage services. By 1996, the company, in its attempt to save its tarnished image, agreed to a $325 million settlement for the customers. And although it was seen as a victory for their customers, it did little to reduce the damage done since most properties were up for foreclosure already. At present, Ameriquest Mortgage Company is no longer accepting loan applications since its sale to Citigroup in 1997.



































Other Mortgage Company Reviews related Articles

EverHome Mortgage Company
National Mortgage Company
Home Loan Mortgage Company
Mortgage Company
Countrywide Mortgage Company

Do you want to contribute to our site : submit your articles HERE


Mortgage Company Reviews Specific links

Mortgage Company Reviews News