Ameriquest Mortgage Activity in Milwaukee County

Abstract

The analysis of mortgage lending practices, evictions and foreclosures in Milwaukee County conducted by the Employment and Training Institute for Legal Action of Wisconsin showed Ameriquest Mortgage Company as one of the major subprime lenders operating in Milwaukee County. As part of an agreement signed with 49 states, including Wisconsin, Ameriquest is providing settlement payments for many of those who borrowed from the company from 1999 through 2005. The data showed Ameriquest with the largest volume of loan applications and second largest volume of approved loans, of the 92 subprime lenders issuing mortgages in Milwaukee County from 2003 through 2005. In those three years, Ameriquest recorded over $2.2 billion loan applications for housing in Milwaukee County and issued $350,419,000 in loans, according to data records filed by the company under the Home Mortgage Disclosure Act (HMDA).