What happened to Ameriquest Mortgage?

NEW YORK (Reuters) – Ameriquest Mortgage Co, the largest U.S. subprime lender as recently as 2005, is closing, the latest home loan provider to shut down amid the nation’s housing market slump.

When did Ameriquest Mortgage close?

On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.

Who owns Ameriquest Mortgage?

Citigroup Inc.
Ameriquest Mortgage Co., the largest U.S. subprime lender as recently as 2005, is closing. Citigroup Inc. C -0.87% said it agreed to buy the wholesale mortgage-origination and servicing assets of Ameriquest’s parent, ACC Capital Holdings, for an undisclosed price.

What happened to Countrywide mortgages?

On July 1, 2008, Bank of America Corporation completed its purchase of Countrywide Financial Corporation. In 1997, Countrywide had spun off Countrywide Mortgage Investment as an independent company called IndyMac Bank. Federal regulators seized IndyMac on July 11, 2008, after a week-long bank run.

Who owns Ameriquest mortgage?

What happened to Long Beach mortgage Company?

In October 1994, it became Long Beach Mortgage Co. Washington Mutual (which has, in some form, existed since 1889) purchased Long Beach Mortgage in October 1999 and used it as its subprime lender. Long Beach stopped making loans in the fourth quarter of 2007.

Is Countrywide mortgage still around?

Bank of America Home Loans is the mortgage unit of Bank of America. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion.

Can I still sue Countrywide?

Can I still sue Countrywide if I get a loan modification under the settlement? Yes. Borrowers will not have to release any legal claims they may have against Countrywide in order to receive a modification of their loan.

Who bought Long Beach Mortgage Company?

Washington Mutual
Washington Mutual (which has, in some form, existed since 1889) purchased Long Beach Mortgage in October 1999 and used it as its subprime lender.

What banks did Washington Mutual buy?

By acquiring companies including PNC Mortgage, Fleet Mortgage and Homeside Lending, WaMu became the third-largest mortgage lender in the U.S. With the acquisition of Providian Financial Corporation in October 2005, WaMu became the nation’s 9th-largest credit-card company.

How much will I receive from the Countrywide settlement?

Under the settlement, Class Members will be given an estimated 22 percent reimbursement of the Countrywide appraisal fees they paid. For example, if a Class Member paid $500 in fees, they will receive a payment of $110 if the estimated percentage of 22 percent is used.

How much are the Countrywide settlement checks?

Waldrup, Ms. Reaster, and Ms. Murphy) an amount of up to $15,000.00 each from the Settlement Amount for their services to the Class. Plaintiffs’ Counsel will make their request in a motion for attorneys’ fees and litigation costs to be filed with the Court at least 60 days before the Court Approval Hearing.

What happened to Argent mortgage Company?

Citigroup bought the remnants of ACC’s Argent wholesale mortgage origination division as well as the servicing rights to collect on more than $45 billion in home loans.

What happened to my Washington Mutual account?

If you had an account with Washington Mutual Bank, you now have an account with JPMorgan Chase Bank.

Is Chase bank and Washington Mutual the same?

All WaMu branches were rebranded as Chase branches by the end of 2009. The holding company, WaMu, Inc., was left with $33 billion in assets, and $8 billion in debt, after being stripped of its banking subsidiary by the FDIC.

Does Countrywide mortgage still exist?

What happens if a settlement check expires?

After June 8, 2020, any uncashed settlement checks will be voided and cancelled. Do not attempt to cash any settlement checks after the void or expiration date listed on the check, or you may be subject to bank fees. If you still have an uncashed settlement check issued in 2019, you should not attempt to cash it.

Who bought Argent mortgage?

Parent/subsidiary companies: Parent company Citigroup Inc. bought Argent Mortgage Co. LLC and AMC Mortgage Services on August 31, 2007. The companies were subsidiaries of ACC Holdings, which owned Ameriquest, one of the nation’s largest and most criticized subprime lenders.

Is Argent mortgage company still in business?

According to information in BBB files, it appears that this business is no longer in business.

Who took over Washington Mutual mortgages?

Subsequent to the closure, JPMorgan Chase acquired the assets and most of the liabilities, including covered bonds and other secured debt, of Washington Mutual Bank from the FDIC as Receiver for Washington Mutual Bank. Any claims by equity, subordinated and senior unsecured debt holders were not acquired.

Did Washington Mutual turn into Wells Fargo?

The day before regulators seized the banking operations of Washington Mutual and sold it to J.P. Morgan Chase in 2008, Wells Fargo & Co.

What happened to Washington Mutual mortgages?

On Thursday, the Federal Deposit Insurance Corp. seized the assets of Washington Mutual, the nation’s largest savings and loan, and brokered the sale of the company to JPMorgan Chase. The collapse of Washington Mutual — often called WaMu — is the largest bank failure in U.S. history.

When did Countrywide mortgage close?

Ever since his company collapsed in 2007 and was taken over by Bank of America in a fire sale, Mr. Mozilo has steadfastly maintained that neither he nor Countrywide did anything wrong.

Can I cash a 10 year old check?

Personal, business, and payroll checks are good for 6 months (180 days). Some businesses have “void after 90 days” pre-printed on their checks. Most banks will honor those checks for up to 180 days and the pre-printed language is meant to encourage people to deposit or cash a check sooner than later.

Should I deposit a settlement check?

You can deposit the settlement check into your bank account and use it any way you wish. It can take about six weeks for you to have the money in your hands. Most law firms issue paper checks to their clients. You can deposit the check like any other, such as paycheck or personal checks.