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.
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
NERFINISHED
→
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 (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
Deval Patrick