Roland Arnall, 68 | Subprime-loan pioneer
The family of Ameriquest Mortgage founder Roland Arnall, 68, says he has died at UCLA Medical Center. The billionaire helped create and later emerged as a symbol of the struggling subprime mortgage industry. A family statement yesterday said Mr. Arnall died of cancer. Mr. Arnall was appointed ambassador to the Netherlands in March 2006 after an approval process that was slowed by unsettled issues regarding Ameriquest, the lending company he founded in 1979. Mr. Arnall was a major Republican financier. His fortune was estimated at $1.5 billion by Forbes magazine last year. - AP
The family of Ameriquest Mortgage founder Roland Arnall, 68, says he has died at UCLA Medical Center.
The billionaire helped create and later emerged as a symbol of the struggling subprime mortgage industry.
A family statement yesterday said Mr. Arnall died of cancer.
Mr. Arnall was appointed ambassador to the Netherlands in March 2006 after an approval process that was slowed by unsettled issues regarding Ameriquest, the lending company he founded in 1979.
Mr. Arnall was a major Republican financier. His fortune was estimated at $1.5 billion by Forbes magazine last year.
- AP