Ameriquest Mortgage was a one of the nation’s largest subprime mortgage provider that was headquartered in Orange, California. The company made wholesale loans through mortgage brokers. Ameriquest focused on risky and questionable customers with poor credit records. In 2006 the company was forced to settle the class action suit. The company had to pay about $325 million in restitution and civil penalties to thousands of people for engaging in rascally and illegitimate business practices.
Eventually, in 2007 the branch offices of Ameriquest Mortgage were closed and the most of staff of the company was fired.
Accepting of the loan applications by the company was stopped. |
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Consumer Rating: 78 Review Points
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