October 21, 2005 |
Roland E. Arnall's nomination for ambassador to the Netherlands hit turbulence Thursday on Capitol Hill, as two lawmakers suggested that his confirmation could be withheld until after his mortgage lending company resolves an inquiry by attorneys general and regulators in 30 states. The Los Angeles billionaire is principal owner of Ameriquest Capital Corp.
December 6, 2006 |
Is the Ameriquest empire assembled by Roland E. Arnall about to be dismantled? The Los Angeles billionaire's financial lending business has declined sharply since his appointment as ambassador to the Netherlands in February. On Monday, his holding company sold car-loan subsidiary Long Beach Acceptance Corp. to a Texas buyer for $282.5 million. Some believe that Arnall's big home loan units, Ameriquest Mortgage Co. and Argent Mortgage Co., could be next to go.
November 8, 2005 |
Ameriquest Capital Corp.'s pending settlement with a large coalition of states over its mortgage lending practices is expected to provide stronger protections for homeowners, with measures to ensure accurate appraisals and to prevent customers from being pressured into taking out loans, according to records and interviews. California Atty. Gen.
February 22, 2008 |
Roland Arnall, a major Republican financier who helped create and ultimately became a symbol of the troubled sub-prime mortgage industry, is resigning his post as U.S. ambassador to the Netherlands. Arnall, founder of Ameriquest Mortgage Co. of Orange, once the nation's largest sub-prime lender, is returning home to be with his adult son, who is battling Hodgkin's lymphoma. His resignation is effective March 7.
September 1, 2007 |
Ameriquest Mortgage Co., once the "Proud Sponsor of the American Dream," is closing. Citigroup Inc. said Friday that it would buy the remnants of the Ameriquest empire from ACC Capital Holdings in Orange, and ACC said it was "preparing for an orderly wind-down of its retail mortgage business." Ameriquest shuttered its 229 retail offices months ago. As recently as 2005, Ameriquest and its sister company, Argent Mortgage, were together the No. 1 sub-prime mortgage lender in the world.
CALIFORNIA | LOCAL
November 12, 1986
A proposal for a Marriott hotel on the campus of California State University, Fullerton, to be used to finance a $6.7-million football stadium and sports complex, received crucial backing Tuesday by a committee of the California State University Board of Trustees. Unanimous voice vote approval by the trustees' Committee on Campus Planning, Buildings and Grounds virtually assures passage today by the CSU Board of Trustees, said committee chairman Roland E. Arnall, a CSU trustee from Los Angeles.