Analyst: Ameriquest Sale a 'Non-Event'

RBS Greenwich Capital analyst Peter DiMartino says in a new research report that Ameriquest's being on the auction block is a "non-event.""These announcements happen often in the industry, and often no sale transpires (and that may be the truth this time as well)," he writes. This past week three different news organizations -- including MortgageWire, American Banker, and Dow Jones -- reported that ACC Capital Holdings is considering selling Ameriquest. (MW, quoting investment banking sources, reported that ACC's Argent Mortgage, a top-ranked subprime wholesaler, is also for sale.) ACC declined to comment on the news reports. Mr. DiMartino notes that, "Whether a sale of [Ameriquest] is a good thing or a bad thing for ABS investors is hard to tell at this point without knowing the acquirer. Odds are it will have little impact on ABS either way."