sub-prime mortgage lenders. By the end of 2005 two of Arnall's companies, Ameriquest and Argent, had funded almost $75 billion in subprime loans. A major factor of this development was Arnall's origination of the stated income loan, meaning loans were given without verification of income. In early 2006, the company announced a $325 million settlement with state attorneys general and law enforcement agencies and financial regulators in 49 states and the District of Columbia who had accused Ameriquest of misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans. In 2007 Arnall got out of the mortgage business having sold most of it to Citigroup for an undisclosed amount. Ambassador to the Netherlands On August 1, 2005, President George W Bush nominated Arnall to become the U.S. ambassador to the Netherlands. The Senate approved his nomination on February 9, 2006. Arnall was installed as ambassador on March 8, 2006 when Queen Beatrix of the Netherlands received Arnall's letters of credence. Arnall announced his resignation as ambassador on February 21, 2008, effective on March 7, citing the ill health of his son. A few weeks later, on March 17, 2008, Arnall died of cancer according to FOX Business at the UCLA Medical Center in Los Angeles, twelve days shy of his 69th birthday. Family Arnall and his wife, Dawn, were longtime, generous political contributors, giving to both parties, according to Federal Election Commission records. Arnall had two children with his first wife Sally, from whom he divorced in 1998 after a 37-year marriage. His nephew is Adam J. Bass, previously Vice Chairman of Ameriquest. Political activities Since 2002, Arnall had given campaign contributions to California politicians including Arnold Schwarzenegger. In the 2003–05 period, Arnall and his wife raised more than $12 million for George W. Bush's political efforts, including $5 million for the Progress for America Voter Fund, a self-proclaimed "conservative issue advocacy organization dedicated to keeping the issue record straight." Arnall was quoted as saying his support for Bush stemmed for his stance on Israel. In 2004 he was one of the top 10 donors to the Republican Party. Mrs. Arnall also served as a co-chair for the 2004 Republican Convention and hosted a $1 million Bush-Cheney fundraiser at the couple's home in Holmby Hills. In 2005, Ameriquest Capital and three of its subsidiaries comprised four of the 53 entities