Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Ameriquest is laying off 10 percent of total workforce

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November 18, 2005

Ameriquest is laying off 10 percent of total workforce

That is total of 1,500 employees. Ameriquest cites challenges ahead due to rising interest rates, etc. Ameriquest is the hardcore sub-prime lender, getting huge fees from those unfortunate fools, who either, unable or unwilling to find an alternative lender. Some call it predatory lending, as a matter of fact, Ameriquest settled for $325 million with several states over its mortgage lending practices.

Ameriquest president. Mr. Roland Arnall, self made billionaire by the way, is worth between 3-4 billions. He was recently nominated to become American Ambassador in The Netherlands.

Posted in Mortgages at November 18, 2005 12:29 PM

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