Items Tagged with 'Ameriquest'

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  • Citi Inks Option to Buy Ameriquest, Argent Wholesale Ops; 'Insurance' for Warehouse Float?

    ACC Capital Holdings, parent of Ameriquest, Argent and AMC Mortgage Services, said late Wednesday that it has secured additional working capital from Citi's Markets and Banking Division to strengthen ACC Capital's financial position as the company repositions to adapt to the current market environment. Citi has also agreed to become ACC Capital's primary warehouse lender. ACC Capital also said that that Citi owns an option, in the form of a conditional purchase agreement, to acquire ACH's wholesale mortgage origination and mortgage servicing platforms, subject to certain requirements, including achieving business milestones and satisfaction of regulatory filings and approvals. Ameriquest's retail branch network and brand are not included in the purchase agreement, the company said in a press statement.
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