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ACC Capital Holdings
ACC Capital Holdings (ACCCH) was a national mortgage lender based in Orange, California. The company is the largest privately held retail mortgage lender in the United States and the largest subprime lender by volume. ACCCH was founded by Roland Arnall. As well as Ameriquest Mortgage, the company also owned Argent Mortgage which made wholesale loans through mortgage brokers, and AMC Mortgage Services which carried out customer services activities for all ACCCH mortgages. Ameriquest closed in 2007, and the rest of the company was acquired by Citigroup. Company reorganization The risky nature of subprime loans, massive defaults of those loans, the softening of the real estate market, and ACC's own practices have led to a financial crisis: *In early 2006, Ameriquest Mortgage settled a class action lawsuit for US$325 million with the attorneys general of 49 of the 50 states over allegations of predatory lending practices. Allegations included usury and bait-and-switch tactics. *On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Busch Series
The NASCAR Xfinity Series (NXS) is a stock car racing series organized by NASCAR. It is promoted as NASCAR's second-tier circuit to the organization's top level Cup Series. NXS events are frequently held as a support race on the day prior to a Cup Series event scheduled for that weekend. The series was previously called the Budweiser Late Model Sportsman Series in 1982 and 1983, the NASCAR Busch Grand National Series from 1984 through 2002, the NASCAR Busch Series from 2003 through 2007, and the NASCAR Nationwide Series from 2008 through 2014. Since 2015, it is sponsored by Comcast via its consumer cable and wireless brand Xfinity. History The series emerged from NASCAR's Sportsman division, which had been formed in 1950 as NASCAR's short track race division. It was NASCAR's fourth series (after the Modified and Roadster series in 1948 and Strictly Stock Series in 1949). The sportsman cars were not current model cars and could be modified more, but not as much as Modi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Housing Bubble
The 2000s United States housing bubble was a real-estate bubble affecting over half of the U.S. states. It was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller home price index reported its largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the Great Recession in the United States. Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a crisis in August 2008 for the subprime, Alt-A, collateralized debt obligation (CDO), mortgage, credit, hedge fund, and foreign bank markets. In October 2007, Henry Paulson, the U.S. Secretary of the Treasury, called the bursting housing bubble "the most significant risk to our economy". Any collapse of the U.S. housing bubble has a direct impact not only on home valuations, but mortgage markets, home ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2007 Subprime Mortgage Financial Crisis
The United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis. It was triggered by a large decline in US home prices after the collapse of a housing bubble, leading to mortgage delinquencies, foreclosures, and the devaluation of housing-related securities. Declines in residential investment preceded the Great Recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines. The housing bubble preceding the crisis was financed with mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than government securities, along with attractive risk ratings from rating agencies. While elements of the crisis first became more visib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George W
George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he previously served as the 46th governor of Texas from 1995 to 2000. While in his twenties, Bush flew warplanes in the Texas Air National Guard. After graduating from Harvard Business School in 1975, he worked in the oil industry. In 1978, Bush unsuccessfully ran for the House of Representatives. He later co-owned the Texas Rangers of Major League Baseball before he was elected governor of Texas in 1994. As governor, Bush successfully sponsored legislation for tort reform, increased education funding, set higher standards for schools, and reformed the criminal justice system. He also helped make Texas the leading producer of wind powered electricity in the nation. In the 2000 presidential election, Bush defeated Democratic incumb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rangers Ballpark In Arlington
Choctaw Stadium, formerly Globe Life Park, is an American multi-purpose stadium in Arlington, Texas, between Dallas and Fort Worth, Texas, Fort Worth. Originally built as a baseball stadium, it was home to the Texas Rangers (baseball), Texas Rangers of Major League Baseball and the Texas Rangers Baseball Hall of Fame from 1994 Texas Rangers season, 1994 through 2019 Texas Rangers season, 2019, when the team vacated the stadium for Globe Life Field. It was constructed as a replacement for nearby Arlington Stadium and opened in April 1994 as The Ballpark in Arlington. In 2020, it was retrofitted for use as a American football, football and association football, soccer facility. The stadium is the home of the Arlington Renegades of the XFL (2020), XFL as well as North Texas SC of MLS Next Pro, who are FC Dallas's reserve team and Six Flags, Six Flags Entertainment Corporation which relocated its world headquarters from a converted data center in Grand Prairie to the upper floor of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas Rangers (baseball)
The Texas Rangers are an American professional baseball team based in the Dallas–Fort Worth metroplex. The Rangers compete in Major League Baseball (MLB) as a member club of the American League (AL) West division. In 2020, the Rangers moved to the new Globe Life Field in Arlington after having played at Globe Life Park (now Choctaw Stadium) from 1994 to 2019. The team's name is shared with a law enforcement agency. The franchise was established in 1961, as the Washington Senators, an expansion team awarded to Washington, D.C., after the city's first AL ballclub, the second Washington Senators, moved to Minnesota and became the Twins (the original Washington Senators played primarily in the National League during the 1890s). After the season, the new Senators moved to Arlington, and debuted as the Rangers the following spring. The Rangers have made eight appearances in the MLB postseason, seven following division championships in 1996, 1998, 1999, 2010, 2011, 2015, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andretti-Green Racing
Andretti Autosport is an auto racing team that competes in the IndyCar Series, Indy Lights, Indy Pro 2000, and Formula E. The team also has a 37.5% ownership stake in the Australian Supercars Championship touring car team, Walkinshaw Andretti United and a stake in the Extreme E team, Andretti United. It is headed and owned by former CART series champion Michael Andretti. Since Michael Andretti's involvement, the team has won the Indianapolis 500 five times ( 2005, 2007, 2014, 2016, 2017) and the IndyCar Series championship four times ( 2004, 2005, 2007, 2012). The team has won the Indy Lights championship in 2008, 2009, 2018, 2019, and 2021 . Additionally the team has won the Global RallyCross Championship with Scott Speed in 2015, 2016 and 2017. Scott Speed also won the 2018 Americas Rallycross Championship. In 2019 Tanner Foust won the Americas Rallycross title making it five rallycross titles in five years for the Volkswagen Andretti Rallycross team. During the team's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Danica Patrick
Danica Sue Patrick (; born March 25, 1982) is an American former professional racing driver. She is the most successful woman in the history of American open-wheel car racing—her victory in the 2008 Indy Japan 300 is the only win by a woman in an IndyCar Series race. Born to a working-class family in Beloit, Wisconsin, Patrick began karting at the age of ten and achieved early success by winning her class in the World Karting Association Grand National Championship three times in the mid-1990s. She dropped out of high school with her parents' permission in 1998, and moved to the United Kingdom to further her career. Patrick competed in Formula Vauxhall and Formula Ford before returning to the United States in 2001 due to a lack of funding. In 2002, she competed in five Barber Dodge Pro Series races for Rahal Letterman Racing. Patrick later raced in the Toyota Atlantic Series for the next two years. Her best effort was third in the championship standings for the 2004 s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IndyCar Series
The IndyCar Series, currently known as the NTT IndyCar Series under sponsorship, is the highest class of regional North American open-wheel single-seater formula racing cars in the United States, which has been conducted under the auspices of various sanctioning bodies since 1920 after two initial attempts in 1905 and 1916. The series is self-sanctioned by its parent company, INDYCAR, LLC., which began in 1996 as the Indy Racing League (IRL) and was created by then Indianapolis Motor Speedway owner Tony George as a competitor to Championship Auto Racing Teams (CART). In 2008, the IndyCar Series merged with CART's successor, the Champ Car World Series and the history and statistics of both series, as well as those from its predecessors, were unified. The series' premier event is the Indianapolis 500, which was first held in 1911. Overview Series name For 1996–1997, the series was simply referred to as the ''Indy Racing League.'' For 1998–1999, the series garnered its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NEXTEL Cup
The NASCAR Cup Series is the top racing series of the NASCAR, National Association for Stock Car Auto Racing (NASCAR). The series began in 1949 as the Strictly Stock Division, and from 1950 to 1970 it was known as the Grand National Division. In 1971, when the series began leasing its naming rights to the R. J. Reynolds Tobacco Company, it was referred to as the NASCAR Winston Cup Series (1971–2003). A similar deal was made with Nextel Communications, Nextel in 2003, and it became the NASCAR Nextel Cup Series (2004–2007). Sprint Corporation, Sprint acquired Nextel in 2005, and in 2008 the series was renamed the NASCAR Sprint Cup Series (2008–2016). In December 2016, it was announced that Monster Energy would become the new title sponsor, and the series was renamed the Monster Energy NASCAR Cup Series (2017–2019). In 2019, NASCAR rejected Monster's offer to extend the current naming rights deal beyond the end of the season. NASCAR subsequently announced its move to a new ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carl Edwards
Carl Michael Edwards II (born August 15, 1979) is an American former professional stock car racing driver. He last competed in the NASCAR Sprint Cup Series, driving the No. 19 Toyota Camry for Joe Gibbs Racing. Prior to that, he drove the No. 99 Ford Fusion for Roush Fenway Racing. He won the 2007 NASCAR Busch Series championship and nearly won the 2011 NASCAR Sprint Cup Series title, but lost by a tiebreaker to Tony Stewart. Edwards is well known for doing a backflip off his car to celebrate his victories. Early life Edwards was born on August 15, 1979 in Columbia, Missouri. He graduated from Rock Bridge High School in 1997. Edwards initially did not plan to attend college, but he received some state assistance and decided to attend the University of Missouri in his hometown of Columbia. After three semesters studying engineering, Edwards decided that university attendance was not working as he pursued his career goals in racing. Prior to becoming a full-time driver, Ed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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