Ameriquest Mortgage Company was incorporated in 1979 and is known to be one of the most leading retail mortgage lender and came into existence with the name of Long Beach & Savings Loan.
Initially the company's main focus was banking but later on it transferred its functional area from banking to retail mortgage. Ameriquest Mortgage Company belongs to the private sector in retail mortgage lending with its headquarter in California known as the orange county. The company has more than 250 branches which offers retail mortgage lending services in around 46 states all over United States. After mounting high in the business of retail mortgage lending, the company left behind its business of savings and loans. It was after this spectacular success it decided to go in for a transformation in name side by side with the functional area. Long Beach & Savings Loan was then renamed as Ameriquest Mortgage Company and it became a full-time mortgage company. Since then, it deals solely with retail mortgage lending.
With its exclusive services and beneficiary terms, Ameriquest Mortgage has become one of the most large-scale companies nationwide. Some of the welfare programs offered by Ameriquest Mortgage Company are as follows:
- Programs designed for Employee Assistance
- Programs developed to ensure extensive facilities covering every medical urgency
- Ensuing more liquidity in accounts for a better and more flexible disbursement
- Advantageous and convenient terms serving personal purposes such as vacation, personal days or sick-leave
- Reimbursement facilities in Tuition fees
- Abides by 401K Plan
- program designed to offer reimbursement in travel incentives
- Provides membership in fitness center
- Beneficiary acts as a tool for survivor protection
- AmeriCares, employee assistance
Apart from retail mortgaging, Ameriquest Mortgage also involves various other beneficiary programs such as debt consolidation, an easy-to-access facility for equity at home, and reduced interest rates against mortgage loans. There has been a marked rise in the statistics of the company's performance since past few years. Ameriquest Mortgage reached a sum of 118, 900 loans as counted in 2003 from 35, 600 loans in 2000. The loan volume of the company grew from $ 3.7 billion as recorded in 2000 to $ 17.8 billion as achieved in 2003. Specialty lending is the sole offerings of Ameriquest Mortgage and it highly values integrity in its every approach.
Of late, in 2007, Citigroup established a wholesale beginner loaning unit known as Argent Mortgage and named its servicing unit as AMC Mortgage Servicing unit in place of Ameriquest Mortgage Company. ACC Capital Holdings decided to close down the retail mortgage lending unit called Ameriquest Mortgage on August 31, 2007 and stop taking loans and sold its loan options unit to the Citigroup.
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