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September 2nd, 2007, 01:18 PM #1
- Join Date
- August 27th, 2006
Just read online that Ameriquest Mortgage is closing doors. They're no longer in business on cj or anywhere else. There are no longer making home loans. Citigroup is buying the company.
September 2nd, 2007, 01:58 PM #2
All that's left of Ameriquest that Citigroup is getting is its loan servicing division.
Ameriquest was not a public corporation but was a private company owned by Roland Arnall (I've previously posted about him), who the LA Times describes as: "the most generous political donor to George W. Bush."
Arnall "retired" from the loan business after w. appointed him Ambassador to the Netherlands.
Citi is experienced in affiliate marketing and has had their own home loan division (my home equity dot com) with an affiliate program for years. However, given the current status of Ameriquest's affiliate program, there still is little if any chance that they would honor outstanding commissions.
September 3rd, 2007, 11:28 AM #3
Ill wind that blows nobody any good... according to CNN Ameriquest did succeed in making Arnall a billionaire.... at least he made out good, and enjoying the good life in Europe now to boot...Kids, you tried your best and you failed miserably. The lesson is, never try. -- Homer Simpson
September 3rd, 2007, 05:59 PM #4
So long, hundreds of dollars in commissions. I usually spend time vetting a prospective merchant to partner with much better than I did with them. I made a big mistake in not learning more about their predatory practices, the idiot Arnall's association with Bush, and the pending settlements, before promoting Ameriquest. Bad, bad dog.
I assume the way corporate law works, Citi has no obligation to pay their acquisition's debts. Especially affiliate commissions which are probably hidden at the very bottom of the ladder of owed money. I so love this %^#&@ country and capitalism. Why the hell can't we go after Arnall's billions in dirty money?
September 3rd, 2007, 08:21 PM #5
- Join Date
- June 7th, 2006
Lesson learned (not the first one) and we all move on.
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