Ameriquest Mortgage Company
E63364
Ameriquest Mortgage Company was a major U.S. subprime mortgage lender that became emblematic of predatory lending practices and the excesses leading up to the 2008 financial crisis.
All labels observed (2)
| Label | Occurrences |
|---|---|
| Ameriquest Mortgage Company canonical | 7 |
| Ameriquest | 1 |
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
financial services company
ⓘ
mortgage lender ⓘ subprime mortgage lender ⓘ |
| associatedWith |
2008 global financial crisis
ⓘ
housing bubble in the United States ⓘ subprime mortgage crisis ⓘ |
| businessArea | residential mortgage lending ⓘ |
| businessModel | originate-to-distribute mortgage model ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| customerBase |
borrowers with poor or limited credit histories
ⓘ
subprime borrowers ⓘ |
| declineCause |
collapse of the subprime mortgage market
ⓘ
lawsuits over lending practices ⓘ regulatory scrutiny ⓘ |
| foundedBy | Roland Arnall ⓘ |
| headquartersLocation |
Orange County, California
ⓘ
Orange, California ⓘ |
| impact |
contributed to U.S. foreclosure crisis
ⓘ
contributed to growth of subprime mortgage-backed securities ⓘ contributed to rising mortgage defaults ⓘ |
| industry |
mortgage industry
ⓘ
subprime lending ⓘ |
| knownFor |
predatory lending practices
ⓘ
role in U.S. housing bubble ⓘ role in events leading to the 2008 financial crisis ⓘ subprime mortgage lending ⓘ |
| legalAction |
consumer protection investigations by state regulators
ⓘ
multi-state settlement with U.S. state attorneys general ⓘ |
| mediaCoverage |
cited in analyses of the 2008 financial crisis
ⓘ
featured in reports on predatory lending ⓘ |
| notableEmployeePractice | commission-based loan officers ⓘ |
| notablePractice |
aggressive sales tactics
ⓘ
refinancing-focused lending ⓘ targeting borrowers with weak credit ⓘ |
| operatedIn |
United States of America
ⓘ
surface form:
United States
|
| parentCompany | ACC Capital Holdings ⓘ |
| product |
home mortgage loans
ⓘ
subprime home loans ⓘ |
| regulatoryIssues |
allegations of deceptive sales practices
ⓘ
allegations of falsifying borrower income documentation ⓘ allegations of predatory lending ⓘ allegations of pressuring appraisers to inflate home values ⓘ |
| reputation |
emblematic of predatory lending in the subprime market
ⓘ
symbol of excesses in U.S. mortgage lending before 2008 crisis ⓘ |
| riskProfile | high-risk mortgage originations ⓘ |
Referenced by (8)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
Deval Patrick
this entity surface form:
Ameriquest