Ameriquest

Ameriquest is a United States-based national mortgage lender, headquartered in Orange, California. Ameriquest is the largest privately held retail mortgage lender in the United States, as well as the largest sub-prime lender by volume.

Ameriquest is a privately held company, owned by Roland Arnall.  Founded in 1979 as a bank (Long Beach Savings & Loan) the company moved to Orange County in 1991.  In 1994, the company converted to the status of a pure mortgage lender and was renamed Long Beach Mortgage Co. In 1997, the portion of the business that funded loans made by independent brokers was spun off as a publicly traded company, called Long Beach Mortgage.  The retail part of the business was then renamed to Ameriquest Capital, which remained privately held. 

Ameriquest was one of the very first mortgage companies to use computers to search for prospective borrowers, and to speed up the loan process. Additionally, Ameriquest heavily advertises in the United States through mediums such as television, blimps (which fly over sports stadiums), and were the sponsor of the 2005 Rolling Stones concert tour.  The stadium used by the Texas Rangers is also now called “Ameriquest Field”.

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In 2004, sub-prime lenders made $587 billion in new mortgages in 2004, up from $390 billion in 2003.  The share of that total belonging to Ameriquest was estimated at more than $50 billion.

Ameriquest is a nationwide lender, servicing all states except for Virginia, West Virginia and Nebraska. Ameriquest does not lend on properties outside of the United States.  If you are considering debt consolidation as a means to eliminate your high-interest debt, Ameriquest has several loan options to meet your needs.  Whether you choose to refinance or utilize your home’s equity, you can relax knowing that Ameriquest offers flexibility and understanding to its customers, with features such as:

• Even if your credit isn’t excellent, Ameriquest will work with you to tailor a program to your needs;
• Ameriquest lends on most property types with some exceptions including:
  • Commercial or mixed-use properties
  • Multiple family homes of 5 or more units
  • Mobile homes
  • Co-ops;
• Ameriquest offers higher Loan-to-Value ratios than most lenders, and requires no mortgage insurance;
• Loan amounts range from $60,000 ($10,000 in Michigan) to $1,000,000 which varies by state and county;
• Ameriquest will lend to borrowers with resident alien status, provided they have legal work status and their income is from a source within the United States;
• Ameriquest offers programs for borrowers with open foreclosure;
• Ameriquest will consider loans with tax liens or judgments;
• Your interest may be tax deductible (consult your tax advisor).

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