Ameriquest Mortgage Co.

Austin, TX: (Jul-13-07) Attorney General Greg Abbott's Office brought a lawsuit against Ameriquest Mortgage Co., alleging that the company's borrowers were harmed by deceptive lending practices that the company followed. The suit stated that Ameriquest and its affiliates, Town and Country Credit Corp. and AMC Mortgage Services, did not adequately disclose certain terms to prospective homeowners. The defendants were also accused of charging excessive loan origination fees and prepayment penalties, refinanced borrowers into improper loans, and inflated appraisals that qualified borrowers for loans. In a settlement reached, Ameriquest Mortgage agreed to pay $21 million to borrowers who were allegedly harmed by deceptive lending practices, thereby ending the litigation. [AUSTIN BUSINESS JOURNAL: LOAN LENDERS]

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Published on Jul-16-07

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READER COMMENTS

Posted by
Patricia Pierce
on February 22, 2017

Our loan was bought and sold so many times we don't even know who owned it at the time we lost our home tried numerous times Devon way out without harming credit to no avail ever contacted about any lawsuit but do know that Ameriquest was one of the people that own their loan at one time there was also something about Deutsche Bank in some of our loan papers now I find out the lawsuit is over never even knew it existed

Posted by
Janet Belanger
on May 19, 2016

I was a participant in this class action lawsuit. I am from New Hampshire, but was never compensated. I forgot about it until I found the original papers I received. How do I check? Or is it too late. I might have moved before settlement was received.

Posted by
Illinois
on August 22, 2007

We have suffered the loss of our home because we were misled in regards to our new payment.We had struggled to make the new payment but couldnt. Ameriquest did not return our calls. Our credit has been affected and my kids are being uprooted and have no home to call their own anymore after living there for 7 years.

Ameriquest Mortgage Co.

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