Lobbying and campaign contributions run amock! Perhaps the authorities will begin taking a serious look at Ameriquest's tactics. Where is Ameriquest, today?
"ameriquestmortgage.com expired on 12/09/2007 and is pending renewal or deletion"
2005-01-27: Penalizing homeowners
...headlining the “Ameriquest Mortgage Super Bowl XXXIX Halftime Show” at Alltel Stadium. Ameriquest reportedly paid $15 million to snag the world’s most prestigious advertising slot,...
Sponsoring the Super Bowl halftime show is part of what Ameriquest vice chairman Adam Bass has called “our long-term vision . . . to become the lifelong mortgage company of every homeowner in America.”
Andrews hopes the new Congress will pass a law that replaces all state and local anti–predatory-lending laws with a federal standard. In Congress, Ohio Republican Robert Ney and Pennsylvania Democrat Paul Kanjorski are working on just such a proposal, says Kanjorski.
Andrews says he doesn’t represent Ameriquest and professes having “no idea what their practices are.” Nonetheless, they seem likely to be allies. Andrews’ wife, Lisa Andrews, is Ameriquest’s senior vice president for government affairs, and Ameriquest is an increasingly heavy hitter in Washington.
Ameriquest Mortgage Co., until recently one of the nation's largest subprime lenders, was at the center of those battles. Working with a husband-and-wife team of Washington lobbyists, it handed out more than $20 million in political donations and played a big role in persuading legislators in New Jersey and Georgia to relax tough new laws. Those victories, in turn, helped blunt efforts by other states to crack down on reckless lending, critics of the industry contend.
Washington lobbyist Wright Andrews and his wife, Lisa, coordinated much of the industry's lobbying. Mr. Andrews's firm, Butera & Andrews, collected at least $4 million in fees from the subprime industry from 2002 through 2006, congressional lobbying reports indicate. Mr. Andrews didn't represent Ameriquest directly. He ran three different subprime-industry trade groups: the National Home Equity Mortgage Association, of which Ameriquest was a member; the Coalition for Fair and Affordable Lending, which spent $6.3 million lobbying against state laws before it dissolved earlier this year, according to federal filings; and the Responsible Mortgage Lending Coalition.
In 2003, Lisa Andrews was appointed senior vice president for government affairs at Ameriquest. Her public-relations firm, Washington Communications Group Inc., claims credit on its Web site for coordinating the industry's victory in New Jersey, as well as its overall strategy at the state level. Ms. Andrews left Ameriquest in 2005 and returned to her firm..
Revolving Door Information:
Andrews, Lisa S, Career Client List, 1998 - 2006 : AMERIQUEST CAPITAL
Andrews, Wright, Butera and Andrews