Ameriquest Announces Mortgage Services Expansion; Sets Goal To Be Full-Service Mortgage Lender.Business Editors ORANGE, Calif.--(BUSINESS WIRE)--May 7, 2004 Ameriquest Mortgage Ameriquest was one of the United States's leading wholesale subprime lenders. Ameriquest was founded in 1979, in Orange County, California, as a bank, Long Beach Savings & Loan. Company, one of the nation's largest mortgage lenders, today announced that it has begun a nationwide expansion of its mortgage product and service offerings to be a full-service mortgage lender. "We're entering a new era," said Adam Bass, senior executive vice president and vice chairman of Ameriquest. "Ameriquest is expanding its national mortgage services to offer a greater range of mortgage services to the American consumer. Our long-term vision is to become the lifelong mortgage company of every homeowner in America." Over the past 25 years, Ameriquest has been principally a specialty retail lender providing home equity loans in the nonprime market. But in recent years Ameriquest's business activity has grown beyond serving only borrowers with credit challenges. Today, Ameriquest services a loan portfolio exceeding $60 billion and operates more than 250 branch offices nationwide. Ameriquest and its affiliates employ 12,000 associates. "Moving beyond our nonprime lending roots is an evolution of Ameriquest's business model," said Bass. "We have done an exceptional job perfecting our underwriting and loan pricing practices, and that has allowed us to offer more homeowners a greater range of mortgage products to meet their financial needs. As a result, we're well positioned to expand our mortgage service offerings to meet the financial needs of more people." Major sports marketing Sport marketing (or "sports marketing" in the US) (1) the specific application of marketing principles and processes to sport products (e.g., teams, leagues, events, etc.) and (2) the the marketing of non-sports products (e.g., cigarettes, beer, long-distance phone service, etc. initiative To support the expansion of its markets as it moves to become a full-service mortgage company, Ameriquest also announced that it has launched a national sports marketing initiative. Today, Ameriquest and The Texas Rangers Texas Rangers, mounted fighting force organized (1835) during the Texas Revolution. During the republic they became established as the guardians of the Texas frontier, particularly against Native Americans. announced a 30-year partnership agreement incorporating naming rights Naming rights are the right to name a piece of property, either tangible property or an event, usually granted in exchange for financial considerations. Institutions like schools, places of worship and hospitals have a tradition of granting donors the right to name facilities in to The Ballpark In Arlington, now called Ameriquest Field in Arlington. On April 19, Ameriquest announced a partnership agreement with Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. (MLB MLB Major League Baseball MLB Minor League Baseball MLB Middle Linebacker (football) MLB Motor Life Boat MLB Matt Leblanc (actor) MLB Mother Love Bone (band) ), making Ameriquest the Official Mortgage Company of Major League Baseball. The company is also title sponsor of the Ameriquest in-stadium and on-line MLB All-Star Balloting campaign. "Our national sports marketing campaign is a logical strategic initiative that supports the expansion of the company's markets by introducing millions more homeowners to the Ameriquest name," said Bass. "Sports and the home are important American institutions. As a full-service mortgage company, we believe it's important to support these two great institutions of American culture." The agreement also includes Ameriquest commitments to significant community, promotional and sponsorship initiatives in the Arlington, Texas-area community, including the annual construction of three Habitat for Humanity Habitat for Humanity, nonprofit ecumenical Christian organization that enables low-income people to own affordable, livable housing. Headquartered in Americus, Ga., it was founded in 1976 by businessman Millard Fuller and his wife. homes and the establishment of a program to donate 10,000 Rangers tickets to underprivileged children. "Ameriquest Field in Arlington reflects Ameriquest's commitment to the people of Arlington, our commitment to invest in their community and our support of Texas Rangers baseball," said Bass. "Equally important, it is a visible symbol of Ameriquest's commitment to help all Texans achieve the rewards of homeownership." Ameriquest is the only mortgage company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with a professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. stadium namesake name·sake n. One that is named after another. [From the phrase for the name's sake.] namesake Noun . Additionally, Ameriquest will be making significant commitments to MLB's national broadcast partners for the 2004 season, has a sponsorship presence in 10 major league baseball parks and will be a title sponsor at 15 spring training facilities in 2005. Ameriquest Mortgage Company is a national mortgage company committed to helping people achieve their homeownership dreams and financial freedom. To fulfill that mission, Ameriquest originates, purchases, sells and services home equity loans. |
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