Closed Lender

Ameriquest Mortgage Is No Longer Operating

Ameriquest Mortgage closed in 2007 following a $325 million predatory lending settlement and the onset of the subprime mortgage crisis. This page explains what happened. Fundslender is not affiliated with Ameriquest.

Start My Inquiry →

No obligation. Rates vary. We are not a lender.

We are not a lender. Fundslender connects users with third-party lenders. We may receive compensation for referrals. No approval is guaranteed. Rates and terms vary based on your creditworthiness and lender criteria. This is not financial advice.

This lender is no longer operating

Ameriquest Mortgage closed in 2007. Its loan servicing portfolio was sold to Citigroup. This page is maintained as a historical reference and to help people searching for Ameriquest find current alternatives.

What Was Ameriquest Mortgage?

Ameriquest Mortgage Company was one of the largest subprime mortgage lenders in the United States during the early 2000s. Founded in 1979 and headquartered in Orange, California, it was owned by Roland Arnall and operated under the parent company ACC Capital Holdings.

At its peak, Ameriquest originated tens of billions of dollars in mortgage loans annually and was one of the most visible mortgage brands in the country, sponsoring major sporting events and stadium naming rights.

What Happened to Ameriquest?

  • Ameriquest faced years of complaints from borrowers alleging deceptive sales practices, including misrepresenting loan terms, inflating appraisals, forging documents, and pressuring borrowers into loans with unfavorable terms.
  • In January 2006, Ameriquest reached a $325 million settlement with attorneys general in 49 states. The settlement was one of the largest predatory mortgage lending enforcement actions in US history at the time.
  • The settlement required Ameriquest to reform its lending practices and pay restitution to affected borrowers.
  • Despite the settlement, Ameriquest continued to struggle as the subprime mortgage market deteriorated through 2006 and 2007.
  • In August 2007, ACC Capital Holdings announced it was shutting down Ameriquest Mortgage and its sister company Argent Mortgage. The loan servicing portfolio was sold to Citigroup's CitiMortgage subsidiary.

What Former Customers Should Know

  • If you were an Ameriquest borrower, your loan was transferred to CitiMortgage or may have been sold further to other servicers since 2007. Check your most recent mortgage statement for your current servicer.
  • If you believe you were a victim of Ameriquest's predatory lending practices and did not receive settlement relief, contact your state attorney general's office or the CFPB.
  • The 2006 settlement required that a settlement distribution process be set up. Most active distributions from that settlement are long concluded, but your state AG can advise on any remaining options.

Current Mortgage and Loan Alternatives

Alternatives to Ameriquest for mortgage and equity products
Product TypeWhere to Look
Mortgage refinanceBanks, credit unions, online mortgage lenders
Home equity loan (HELOC)Banks, credit unions; see our home equity loan overview
Cash-out refinanceCompare rates from multiple licensed mortgage lenders
Personal loan (unsecured)Online personal loan lenders; Fundslender network

For more information on home equity borrowing, see our home equity loans overview and refinance overview.

Frequently Asked Questions

Ameriquest Mortgage faced widespread allegations of predatory lending practices, including loan flipping, misrepresenting loan terms, and charging excessive fees. In 2006, Ameriquest reached a $325 million settlement with 49 states, one of the largest predatory mortgage lending settlements in US history. The combination of regulatory pressure, reputational damage, and the beginning of the subprime mortgage crisis led its parent company, ACC Capital Holdings, to close Ameriquest Mortgage and sell its loan servicing operations to Citigroup in 2007.
Ameriquest's loan servicing operations were sold to Citigroup in 2007. Your loan may have changed servicers multiple times since then, as mortgage servicing rights are frequently transferred. Check your most recent mortgage statement for your current servicer's contact information, or use the CFPB's mortgage servicer lookup tools.
Ameriquest Mortgage was one of the largest subprime mortgage lenders in the United States at its peak in the early 2000s. It originated billions of dollars in mortgages annually and was known for aggressive marketing, including stadium naming rights and sponsorships. It was also one of the most prominent examples of the predatory lending practices that contributed to the 2007-2008 mortgage crisis.
Many banks, credit unions, and online mortgage lenders offer home equity loans, HELOCs, and mortgage refinance products today. Fundslender provides information on home equity and mortgage options; we are not affiliated with Ameriquest and do not offer mortgage products directly.
Secure & Confidential Your information is handled securely and only shared for the purpose of connecting you with relevant lenders.
No Obligation Exploring your options doesn't commit you to anything. You are free to decide what is right for your situation.
Fully Transparent We are a matching service, not a lender. We may receive compensation from partners, this is clearly disclosed.