THE MARKET military outlets in and around each
Orange, California–based Ameriquest MLB market.
Mortgage Company originates, sells, Of course, Ameriquest encour-
and services specialty, first-mortgage ages its associates’ community
home loans. Specialty lending — involvement with a standing offer to
which provides mortgage loans to match the funds they raise for char-
people who cannot, or choose not to, itable organizations, and recognizes
obtain financing from traditional their efforts with its highest honor,
lenders such as banks and thrifts — the Do the Right Thing Award.
accounted for about one-fifth of the
$3.5 trillion mortgage industry in HISTORY
2004. Ameriquest helped pioneer Ameriquest Mortgage Company
this niche, and continues shaping the recently celebrated a quarter-century
art of accessing and servicing the of business, helping hundreds of
specialty lending market as the coun- thousands of customers achieve the
try’s largest retail first-mortgage spe- American dream of homeownership.
cialty lender, and one of the largest The company was founded in 1980
home-equity lenders. as Long Beach Savings and Loan. It
Ameriquest is now expanding began residential loan operations in
beyond its specialty lending roots to 1988, and transitioned completely
become a mainstream, full-product to mortgage lending in the mid-
lender for borrowers of all credit 1990s by doubling its associate base,
backgrounds and financial objectives. branch offices, and the states in
which it did business.
ACHIEVEMENTS In 1997, the company redirected its
Ameriquest achieves extraordinary success while community organizations such as the Association focus to retail lending and assumed the Ameriquest
practicing the highest standards of honesty and of Community Organizations for Reform Now name. Branch offices doubled again as did loan vol-
integrity. The company in 2000 pioneered the devel- (ACORN), the Consumer Mortgage Education ume, and Ameriquest became the number-one retail
opment of Best Practices to establish voluntary Consortium (CMEC), the National Community first-mortgage lender in the country.
standards for ethical lending practices in the mort- Reinvestment Coalition, the Greenlining Institute, Impressive growth continues today, fueled by
gage industry. These Best Practices support the Center for Responsible Lending, the Self Help the company’s sharp focus on customer care and
Ameriquest’s ongoing mission to make credit acces- Credit Union, and more. leading-edge systems and technology. Ameriquest
sible to underserved markets, help customers gain Of course, loan quality is paramount at now operates more than 300 branches in nearly all
a fresh financial start or realize a dream, and make Ameriquest, as is the way loans are serviced once states, with primary concentrations on the West
homeownership a reality. They also set new stan- they’re funded. The company’s loan-servicing Coast and in the Midwest, the Northeast, and the
dards for all other specialty lenders. division in 2004 earned ratings upgrades from South. As impressive, loan volume has doubled
Three years later, the company established a Wall Street agencies that assess its operations. nearly every year since the mid-1990s.
Best Practices doctrine for loan-servicing opera- The ratings, considered “superior,” track all facets
tions, which focus on customer success and satis- of the operation — from customer service and THE PRODUCT
faction. These Best Practices have been hailed by staff training to loan administration, systems tech- Ameriquest offers a variety of loan products,
nology, and division management. including fixed- and adjustable-rate mortgages for
Ameriquest from the outset has maintained a both conforming and nonconforming customers,
strong sense of corporate citizenship, expressed interest-only adjustable-rate loans, and Federal
in its core values: “Do the Right Thing” and Home Loan Mortgage Corporation (Freddie Mac)
“Helping Others.” Each year the company com- conforming loans.
mits significant time and resources in support of A new program, the 80/20 Purchase loan,
charitable organizations, education, youth pro- allows qualified borrowers who lack funds for a
grams, and economic opportunity for low- to down payment to buy a home.
moderate-income Americans. The company prides itself on treating every
Among recent initiatives, the company made customer with the same level of respect and serv-
a charitable contribution of $1 million to obtain ice as they would receive from a traditional lender.
1 million tickets from Major League Baseball’s In many instances, Ameriquest’s loans act as a
Commissioner’s Initiative for Kids. Ameriquest bridge to help customers improve their financial
and MLB distributed the game tickets to schools, situations or achieve goals such as starting a busi-
youth organizations, police departments, fire ness, paying for college, adding a room to the
departments, hospitals, community groups, and house, and more.
13
RECENT DEVELOPMENTS .com, and America Online, among others. In fact,
Ameriquest operates two of the largest airships in ESPN ranked “Mini Mart” as the number-one
the world — Ameriquest Airships Liberty and commercial, while USA Today’s online poll
Freedom — to complement its branding initia- named “Surprise Dinner” as best overall.
tives and symbolize its mission to help every Ameriquest broadened its professional sports
American fulfill the dream of homeownership. sponsorship portfolio in early 2005 by forming a
Freedom debuted at the 2004 Indy 500, and partnership with Don Prudhomme Racing as a
then made dozens of appearances coast to coast. major associate sponsor of the Miller Lite drag-
Liberty made its first guest appearance October ster driven by two-time NHRA Top Fuel cham-
5–6, 2004, at New York’s Yankee Stadium for Games pion Larry Dixon.
1 and 2 of the American League playoff series And in May 2005, the company announced a
between the Yankees and Minnesota Twins. Both air- sponsorship agreement with the legendary Rolling
ships, at 206 feet in length, can hover for extended Stones rock band, naming Ameriquest as the pre-
periods and have been used to supply aerial camera senting sponsor of the U.S. leg of The Rolling
shots for games, television shows, and more. Stones On Stage World Tour. The concert tour, with
Liberty in March 2005 made a dramatic and more than 35 dates in the United States, begins
colorful transformation as The Ameriquest Soaring August 21 at Boston’s Fenway Park before con-
Dreams Airship, with a nose-to-tail paint job sup- cluding early next year. Ameriquest’s sponsorship
plied by children from around the country. The will incorporate a fully integrated promotional cam-
completed airship is the culmination of the partners over the course of the season, as well as paign featuring Rolling Stones–themed print and
Ameriquest Soaring Dreams Airship Project, a to several teams. For instance, the Texas Rangers television advertising, direct mail, interactive Web
partnership between the company and Los and Ameriquest signed a 30-year agreement content — including free music downloads — and
Angeles–based Portraits of Hope, an a national consumer sweepstakes.
organization that helps children build Other strategic sports and entertain-
self-esteem through the development of ment sponsorships are in the offing.
one-of-a-kind works of public art.
Thousands of kids in after-school programs BRAND VALUES
and pediatric-care facilities painted the geometric- Ameriquest, as a privately held com-
shaped panels that now stretch over the airship— establishing “Ameriquest Field in pany, maintains a steadfast commitment
more than 25,000 square feet of art. The panels are Arlington” as the new name for The to core values that center on integrity,
signed by the children who painted them. Ballpark in Arlington. As part of the continuous improvement, customer satis-
The Ameriquest Soaring Dreams Airship, agreement, the Rangers and Ameriquest faction, community outreach, and corporate
which debuted March 30, 2005, in Southern Cal- joined together in an extensive community out- achievement. These values help shape the com-
ifornia, embarked on a nationwide tour of reach initiative that includes Habitat pany’s brand identity, which for the past several
major sporting events and public cer- for Humanity construction proj- years has been “You are more than a credit score,”
emonies to celebrate the hopes ects, youth sports programs, followed by “Don’t judge too quickly. We won’t.”
and dreams of children every- affordable-housing programs, In spring 2005 Ameriquest unveiled its “Proud
where. The program’s Web site is ticket giveaways, and more. Sponsor of the American Dream” campaign,
www.soaringdreams.org. Still another highlight of reflecting the company’s ongoing expansion in the
In addition, Ameriquest the MLB agreement was overall home-loan market, its professional sports
recently opened two operational facilities Ameriquest’s “Take a Legend to the sponsorships, its community involvement, and the
to support its expansion into mainstream mort- World Series” sweepstakes, offered to fans emotional ties of homeownership.
gage lending. Its new loan-servicing center in throughout the country via the company’s Web
Schaumburg, Illinois, will create more than 2,000 site (www.ameriquest.com). The sweepstakes
THINGS YOU DIDN’T KNOW ABOUT
new jobs in this Chicago suburb and will enable awarded one lucky entrant two World Series tick-
AMERIQUEST
the company to further enhance its ets and the opportunity to watch
customer service and support. the game with baseball legends
The company’s new data center in Tommy Lasorda, George Brett, and r Ameriquest has helped more than 1 million
Douglas County, Colorado, adds Ozzie Smith. customers achieve the American dream
more jobs to the Denver economy and Ameriquest’s NFL partnership through mortgage refinancing and home-
gives Ameriquest a centralized loca- was equally fruitful, as the company purchase transactions.
tion to provide 24-hour operations, was the presenting sponsor of the r More than 5,000 children painted by hand
including a help desk for Ameriquest Ameriquest Super Bowl XXXIX the Ameriquest Soaring Dreams Airship.
associates and business partners. Halftime show featuring legendary The vivid canvas of colors and shapes is
rocker Paul McCartney, Pro Bowl five times larger than Michelangelo’s fresco
PROMOTION Balloting, and the NFL Opening masterpiece on the Sistine Chapel ceiling.
Ameriquest believes professional Kickoff show. The sponsorship also r Some say Ameriquest, in its first year as the
sports are as basic to America as included two Super Bowl television Official Mortgage Company Sponsor of
homeownership: both symbolize ads, marking the first time Major League Baseball, helped the Boston
hopes and dreams for millions. Ameriquest advertised during the Red Sox brush aside “Bambino’s Curse,”
Accordingly, the company forged most-watched sports event in the which, according to legend, had plagued the
sponsorship agreements with Major country. In fact, more than 133 mil- team since it sold Babe Ruth’s contract to
League Baseball and the National Football lion people watched Super Bowl XXXIX, played the New York Yankees in 1920. How?
League, and is known as the official mortgage February 6, 2005, in Jacksonville, Florida, the Ameriquest’s Take a Legend to the World
company sponsor for both. fifth-largest television audience in TV history. Series sweepstakes — which offered one
In 2004, the company launched its MLB part- The ads, “Mini Mart” and “Surprise Dinner,” lucky fan two tickets to the 2004 Fall
nership by sponsoring the All-Star Game in-stadium portrayed people who are misjudged and included Classic — was won by a lifelong Boston
balloting program, and the online All-Star balloting Ameriquest’s tagline “Don’t judge too quickly. We Red Sox fan. Boston, of course, went on to
program via MLB.com. Ameriquest also made a won’t.” Both were voted among the year’s best in win its first World Series title in 86 years.
significant commitment to MLB national broadcast polls conducted by USA Today, ESPN, FOXSports
13