Opinion: Roland Arnall, subprime pioneer, political donor

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Top of the Ticket reports that former ambassador Roland Arnall has died at UCLA Medical Center.

Arnall’s Ameriquest was a leader in subprime mortgage loans and was variously depicted as a predator on low-to-moderate income home buyers and the deliverer of the American dream to people otherwise priced out of the housing market. In 2006 the company paid millions of dollars to resolve investigations by 49 states, including California.

Arnall was a major donor to Republican candidates and causes, including President Bush and Gov. Arnold Schwarzenegger. But he and his wife, Dawn, also gave lavishly to Democrats, including Los Angeles Mayor Antonio Villaraigosa, City Attorney Rocky Delgadillo, and City Council members Bernard Parks, Wendy Greuel, Jose Huizar and Jack Weiss.

Villaraigosa borrowed the Ameriquest jet in November 2005 to fly to the Detroit funeral of civil rights icon Rosa Parks. He was heavily criticized for his ride, and ultimately paid $438 to cover the cost of the flight. Critics persisted, saying the cost was much higher than the equivalent price of a round-trip commercial air ticket.

Arnall helped found the Simon Wiesenthal Center in Los Angeles.

He became U.S. ambassador to the Netherlands two years ago.