Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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OUCH!
Roland Arnall, founder of sub-prime specialist Ameriquest, dies at 68 - Los Angeles Times

Arnall

Roland Arnall, founder of sub-prime specialist Ameriquest, dies at 68

Arnall, founder of Ameriquest Mortgage and ambassador to the Netherlands, died at 68.
Also a philanthropist and diplomat, he created a company that popularized the risky mortgages and was accused of abuses.
By E. Scott Reckard, Los Angeles Times Staff Writer
4:15 PM PDT, March 17, 2008
Sub-prime mortgage king Roland E. Arnall, a politically connected billionaire whose widespread philanthropy was overshadowed by investigations into alleged lending abuses at his Ameriquest Mortgage Co., died today. The longtime Holmby Hills resident was 68.

Arnall, a Holocaust survivor who co-founded the Simon Wiesenthal Center, had resigned as President Bush's ambassador to the Netherlands on March 7, returning to Los Angeles to be with a seriously ill son, the family said. The senior Arnall was diagnosed with cancer Wednesday and died in the early morning at UCLA Medical Center, a spokesman for the family said.

Born on the eve of World War II to Eastern European Jews who had fled to Paris, Arnall spent his early childhood in a French village where his family pretended to be Roman Catholics. He wasn't told he was Jewish until after the war, and his family soon relocated to Canada and then to the United States, where he had his first business selling flowers on the streets of Los Angeles.

Over the years, Arnall amassed huge interests in apartments and other businesses. But he was chiefly known as a pioneer of lending to high-risk borrowers, using databases to identify customers and set loan terms, and partnering with Wall Street firms that provided funding and bundled his loans into mortgage-backed bonds -- the business whose recent meltdown has shaken the global financial system.

His direct-to-consumer lending company, Ameriquest Mortgage, and sister companies including Argent Mortgage Co., which made loans through independent brokers, had become the nation's largest sub-prime lenders by the middle of this decade. Ameriquest advertised heavily on television, sent blimps soaring above stadiums bearing the company's name and Liberty Bell logo and sponsored a Super Bowl halftime show and a Rolling Stones tour.

But the company that called itself the Proud Sponsor of the American Dream was dogged by allegations from government authorities, community groups, angry customers and former employees who said Ameriquest ran "boiler rooms" of loan agents who socked borrowers with hidden fees and higher-than-promised interest rates while steering customers into loans they couldn't afford. Arnall blamed the problems on rogue agents who were terminated.

After The Times ran a series of articles detailing the allegations in 2005, Ameriquest disclosed that it was under investigation by a task force of state attorneys general. Arnall, who with his second wife, Dawn, had been the heaviest backers of Republican candidates and causes in the 2004 election cycle, had his confirmation as ambassador held up in the Senate until his company agreed to pay $325 million to settle with 49 states and the District of Columbia.

Ameriquest Mortgage shut down its lending last year, an early casualty of the sub-prime meltdown. Its loan servicing, or bill collection, arm was later sold to Citigroup Inc., along with the lending systems used by Argent, the affiliate that worked through brokers. The remains of Arnall's lending empire are "being wound down," a spokesman said.

Even Arnall's harshest critics acknowledged difficulty in reconciling the complaints with the man they knew as a benefactor of animal shelters, a 16-year trustee of the California State University system and a diplomat who strove to build bridges to the Islamic community in Europe and the United States.

"Roland Arnall was a distinguished philanthropist in the Jewish community and general community as a whole with a commitment to education and supporting those in need in hospitals and those who are disabled in the U.S. and around the world," said Rabbi Marvin Heir, dean of the Wiesenthal Center.

"He played a leadership role in the Simon Wiesenthal Center and Museum of Tolerance since its inception in 1977 and served as co-chair of its board until he resigned to become U.S. ambassador to the Netherlands," Hier said. "This is a great loss."

Arnall and his wife had been major donors to Democrats, including California Govs. Gray Davis and Jerry Brown.

But in later years, the Arnalls became major donors to Republicans. Since 2004, the couple had given $5.5 million in federal campaign donations primarily to Republican candidates and organizations, and another $1 million to President Bush's 2005 inaugural.

The Holmby Hills residents also were major California state donors, giving at least $11.5 million to state candidates and campaigns. They gave $1.4 million to Gov. Arnold Schwarzenegger and his campaign committees, and $130,000 to Davis, plus another $100,000 to oppose Davis' recall.

In addition to his wife and son Daniel, Arnall's survivors include a daughter, Michelle, and nephew Adam Bass, vice chairman of Ameriquest.

Memorial services were pending. The family requested that well-wishers make charitable contributions rather than send flowers.

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Instead of flowers send money? 3 billion isn't enough to pay for the funeral?

Perhaps Los Alamos or China lake has to come up with some kind of advanced scheme to stop the earth from spitting out this scumbag and polluting the earth.
I hope the taxpayers don't have to come up with billions to bury this piece of toxic waste.

One of the worlds most virulent criminals is finally dead. Have fun roasting in Hell.

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4 justice now
Good Call Greg! If they're concerned about the cost, they should just whittle him down a little and give that whirly a good healthy flush. Besides, it would be a more fitting send off for someone of his character.

My opinion only.
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4 justice now
FWW:

I didn't know Kenneth Lay either but I sure know what he did to many hard working Americans.

4J

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4 justice now
UY & Ohio:

Wow, I couldn't agree more!

I always have to wonder how ignorant fools like that must truly be. Just the fact that they've taken the time to visit this site strongly suggests that: (Assuming they're not fellow MS Fraud victims or friends) they're either MF MS Fraudsters themselves or they're simply in bed with them.

JMO

R,

4J
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O -
He's DEAD but it's not over BY A LONG SHOTTTTT!

All I can say is that Dawn Arnall had better stand up and do the RIGHT THING! now that Rollie is gone She is the new focus now.

I'm getting ready to send her a letter.
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Stephen

There are pages and pages of testimonials from people who Ameriquest screwed over.  From contracts altered after the fact to blatant misrepresentation, Ameriquest was sued by 49 states.  Arnall was intimately familiar with the evil practives of the company, he created them himself.  Arnall and Ameriquest were the embodiment of evil.

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MY THOUGHTS

PROVERBS 30:14

 14 Don't be greedy,
   merciless and cruel as wolves,
Tearing into the poor and feasting on them,
   shredding the needy to pieces only to discard them.

I HAVE LISTENED TO THE AMERIQUEST FALL FOR YRS NOW, I'M SO SICK OF HEARING, IT'S THE BORROWERS FAULT, THEY DIDN'T READ THE PAPERWORK OR BLA BLA.........ALONG WITH MILLIONS OF OTHERS, THE SAME PATTERN , WHERE DID THIS COME FROM,BOGUS EMPLOYEES, THE BOGUS EMPLOYEES ARE COMING OUT WITH THE TRUTH NOW. ABC INTERVIEWED ONE, HIS FIRST DAY HE HAD TO WATCH A MOVIE...THE BOILER ROOM, THE ART ROOM ETC........I READ A TESTIMONY ON ONE OF THE FRAUD WEB PAGES YRS AGO, HOW EMPLOYEES LAUGHED AND MADE FUN OF PEOPLE, WHILE THEY DRANK DURING LUNCH HR.

EVERY ONE HAS THEIR OWN STORY ABOUT ALL THE GREED AND FRAUD MTG. CO'S., AND BECAUSE OF THE GREED, IT HAS BOUGHT THIS COUNTRY TO IT'S KNEES, WE ARE TO BE ONE WITH GOD, BUT WE ARE THROWING PEOPLE OUT IN THE STREETS, STRIPPING THEM OF EVERYTHING. THE PEOPLE THAT CREATED THIS, HAS SOLD THEIR SOULS TO THE DEVIL, AND SOLD THIS COUNTRY OUT.IT HASN'T BEEN JUST A FEW HUNDRED, IT'S BEEN MILLIONS OF PEOPLE, WHAT DOES THAT SAY???? READ THE TEN COMMANDMENTS, DO WE LIVE BY JESUS'S LAWS, NO....OR WE ALL WOULD NOT BE GOING THRU THIS.I TRY TO BE A GOOD CHRISTIAN AND NOT TO JUDGE.,,,THERE IS SOMETHING VERY WRONG HERE AND THE TRUTH IS, NO MATTER WHAT WE ALL HAVE TO SAY OR FEEL.,

GOD ALMIGHTY KNOWS THE REAL TRUTH, AND HE WILL DEAL WITH THE GREEDY AND UNJUST PEOPLE OF THIS WORLD....WE ALL HAVE TO CLOSE OUR EYES AND SLEEP AT NIGHT.....AND I PRAY SO HARD THE PEOPLE WHO WERE HURT AND LOST EVERYTHING OVER GREED AND FRAUD, GOD RESTORE TO THEM 200 FOLD AND BRING THE UNJUST TO THEIR KNEES. AS A CHRISTIAN I PRAY FOR MR. ROLAND'S SOUL, ALONG WITH ALL THE OTHERS.........IT'S TIME TO WAKE UP, AND ALL YOU PEOPLE RESPONSIBLE FOR WHAT'S HAPPENING IN THIS WORLD, ONE SPLIT SECOND CAN CHANGE YOUR WHOLE LIFE. WE WILL ALL BE HELD ACCOUNTABLE FOR OUR ACTIONS, AND WE WILL ALL BE  BROUGHT TO OUR KNEES, ONE WAY OR ANOTHER...............ISN'T IT TIME TO START MAKING THINGS RIGHT WITH THE PEOPLE YOU DESTROYED. YOU WILL REEP WHAT YOU SOW!!!! 
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CNN HAD A HOUR SPECIAL ON LAST NIGHT, THEY TALKED ABOUT ROLAND'S DEATH, AND THEY HAD X-EMPLOYEES ON TELLING HOW THEY LIED TO BORROWERS, KNOWING THEY WERE SETTING THEM IN BAD LOANS. GO TO CNN.COM AND CLICK ON THE BUSINESS TAB.

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O -

I sure would like to have seen that.

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REPEAT program tonight at 8 pm est, and tomorrow night 8 pm est on CNN.

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O -

TY


Ann Holden wrote:

REPEAT program tonight at 8 pm est, and tomorrow night 8 pm est on CNN.

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THANKS ANN, I SURE HOPE IT'S THE SAME ONE FROM LAST NIGHT...........

(THE TRUTH) VERY NICE POST YOU WROTE, IT MAKES ONE REALLY THINK!!!!!!!!!
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ZORRO

WHAT A GREAT SPECIAL !    WAY TO GO MARK , FOR YOUR INSIGHT AND HONESTY .  DID NOT MENTION MUCH ABOUT ROLLIE  BUT , DID SAY THE LATE .

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I HOPE THEY HAVE A REPEAT ON THE X-AMERIQUEST EMPLOYEES, THAT WAS REALLY SOMETHING!!!!!!!!!!!!!!!

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Oh Please!


He used to be Robin Hood and now Zorro.  Give it a rest you greedy pig.  Couldn't get Ameriquest to give you the big payoff?  Ban him off this informational board!  HE HAS NOTHING TO ADD.
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WhoAreYou?

Nye?


Oh Please! wrote:


He used to be Robin Hood and now Zorro.  Give it a rest you greedy pig.  Couldn't get Ameriquest to give you the big payoff?  Ban him off this informational board!  HE HAS NOTHING TO ADD.

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