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Update: January 21, 2011
Checks were mailed on December 14, 2007 to all eligible borrowers who submitted
a valid and timely Release Form.
Release Forms were mailed to a small group of Borrowers on
January 21, 2011 for participation in the Settlement. The deadline to respond
for these borrowers is March 22, 2011.
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This Web site provides information about the States’ January 2006 settlement
with Ameriquest Mortgage Company (the “Settlement”). On this Web site you will
find detailed information about the Settlement and who was eligible to receive
restitution payments, as well as answers to frequently asked questions.
The Settlement resolved an investigation by the Attorneys General and/or
banking and finance regulators of every state (except Virginia) and the
District of Columbia into claims that Ameriquest and other affiliated companies
had engaged in various unlawful mortgage lending practices from January 1, 1999
through December 31, 2005. It included Ameriquest, ACC Capital Holdings Corp.,
Town and Country Credit Corp., and AMC Mortgage Services, Inc. (formerly doing
business under the name Bedford Home Loans). Together, all of these companies
are referred to in this Web site as “Ameriquest.”
A $295 million Settlement Fund was established to provide restitution payments
to certain Ameriquest borrowers identified by the States. Beginning July 9,
2007, borrowers who were eligible for a payment were mailed Notice letters and
Release Forms. The Notice detailed the minimum dollar restitution payment
eligible borrowers could receive. To participate, you must have signed and
returned, postmarked by September 10, 2007, the Release Form included with your
Notice letter.
Borrowers who received a letter dated January 21, 2011 were sent Release and
W-9 forms for participation in the Settlement. To participate, you must sign
and return, postmarked by March 22, 2011, the Release Form included with your
Notice letter.
Link to Frequently Asked Questions (General)
Link to Frequently Asked Questions (Restitution
Payments)
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