Help Stop Predatory Lending Practices

Many lending companies go out of their way to make loans to people that they know can’t afford to keep up the loan. They often target low-income people with promises that they can own their own home – only to dash those promises and leave their victims in far worse shape than they were originally.

Such predatory lending practices are never employed by Ameriquest. Ameriquest uses a standardized risk-based price model to determine a potential customer’s qualifications for a loan. Because the process is standardized it is color-blind and blind to all other discriminatory practices while at the same time preventing people from over-extending themselves on loans that they will never be able to afford.

Ameriquest is committed to educating the public about these predatory lending practices by helping to make consumers better-informed when it comes to making lending decisions.

To help in this quest, Ameriquest has partnered with several organizations that are also working to stamp out predatory lending practices. Among the organizations which Ameriquest has aligned itself with are the Leadership Conference on Civil Rights (LCCR), the Association of Community Organizations for Reform Now (ACORN), the Greenlining Institute, the National Community Reinvestment Coalition (NCRC), the National Fair Housing Alliance (NFHA), the National Association of Neighborhoods (NAN), the Los Angeles Center for Law and Justice, and the Citizens for Community Improvement (CCI).

Ameriquest is proud to be one of only two lenders who were invited to participate in Freddie Mac’s DON’T BORROW TROUBLE consumer-awareness program. Ameriquest continues to participate in this program and to help educate the public about unfair and predatory lending practices nationwide.

And finally, Ameriquest is also heavily involved in programs that are designed to offer rescue assistance to victims of predatory lending practices.