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Award (how much your claim may be worth):
Average payout appears to be ~$50. Check the comments below and leave one if you received your check.
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Class Action Lawsuit Settlement Case(s):Â v. Ameriquest Mortgage Company et al. IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS MDL No. 1715, Lead Case No. 05-cv-07097
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Company(ies): Ameriquest Mortgage Company
AMC Mortgage Services, Inc. (FKA Bedford Home Loans, Inc); Town & Country Credit Corporation; Olympus Mortgage Company (NKA Bedford Home Loans, Inc.); and Argent Mortgage Company, LLC
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Website Link to access the Class Action Lawsuit Settlement and get YOUR Stake (SUBMIT YOUR CLAIM HERE): Settlement Administrator Website
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Address of Class Action Lawsuit Settlement Administrator to submit a claim form (NOT REQUIRED):
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Ameriquest MDL Settlement Administrator
P.O. Box 2278
Faribault, MN 55021-2413
or FAX your claim form to 1-866-590-8535
Phone Number to call for assistance:Â 1-877-872-3812
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Details: The Ameriquest mortgage class action lawsuit settlement includes all who originated their mortgage through Ameriquest or one of the other companies listed above. It’s important to note that even though your mortgage may not be currently services by Ameriquest, if it originated through them you may be eligible to submit a claim. In addition, the Ameriquest mortgage class action lawsuit settlement combines more than a dozen individual cases into one large settlement. If your mortgage loan with Ameriquest originated after December 14th, 2001 you’re likely included in the Ameriquest mortgage class action lawsuit settlement. The five classes included in this settlement are:
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CLASS ONE: TILA RESCISSION CLASS
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The TILA Rescission Class is a nationwide class of borrowers who at any time on or after February 8, 2003, (or, for residents of Massachusetts, at any time on or after February 8, 2002) have actually requested rescission in writing of their loans pursuant to applicable provisions of the Truth in Lending Act or state disclosure laws on or before December 1, 2009.
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CLASS TWO: BAIT AND SWITCH CLASS
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The Bait and Switch Class is a nationwide class of borrowers who meet one or more of the following criteria:
(i) loan records establish a final disclosed annual percentage rate that is at least 0.9% higher (as calculated pursuant to TILA) than the disclosed annual percentage rate (calculated pursuant to TILA) contained in preclosing written disclosures made to the borrower;
(ii) loan records establish that the borrower received a loan containing a prepayment penalty, but preclosing written disclosures made to the borrower described a loan without a prepayment penalty; or
(iii) loan records establish that the borrower received a loan containing a variable rate, but preclosing written disclosures made to the borrower described a loan containing a fixed rate.
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CLASS THREE: DISCOUNT POINTS CLASS
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The Discount Points Class is a nationwide class of borrowers who either entered into loans (i) made after December 14, 2001, and before February 3, 2003, on which they had to pay discount points in any amount; or (ii) made on or after February 3, 2003 on which they had to pay at least three discount points.
CLASS FOUR: WHOLESALE BORROWER CLASS
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The Wholesale Borrower Class is a nationwide class of borrowers who paid an amount constituting more than 3% of their funded loan amount in settlement charges to Ameriquest or a mortgage broker.
CLASS FIVE: LOAN SERVICING CLASS
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The Loan Servicing Class is a nationwide class of borrowers who paid Ameriquest default and delinquency fees or costs in an amount in excess of a total of $1,000. These fees and costs include fees listed in Ameriquest’s records as late fees, legal fees, phone pay non sufficient fund (NSF) fees, bad check non sufficient fund (NSF) fees, appraisal fees, inspection fees, and recoverable corporate advance fees.
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Most people whose mortgage was originated by Ameriquest after December 14th, 2001 will fit into one of the classes above. If you received a notice from Ameriquest make sure to take the time and submit your claim in the Ameriquest mortgage class action lawsuit settlement. The class you fit in above will determine how much you will get paid in the Ameriquest mortgage class action lawsuit settlement. This could pay you thousands of dollars. DON’T MISS OUT ON IT! Submit your claim in the Ameriquest mortgage class action lawsuit settlement now.
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Purchased From: After December 14th, 2001
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Claims Accepted Until (YOU MUST SUBMIT YOUR CLAIM BY THIS DATE!): 3/09/10
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Class Action Lawsuit Settlement Amount(s): $22,000,000 = $200,000 in Foreclosure Prevention Counseling + $14,345,000 to Consumers (ESTIMATE) + $7,330,000 Attorney Fees and Expenses + $7,500 to each Lead Plaintiff
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Settlement Administrator(s): Rust Consulting, Inc.
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Plaintiff Counsel:
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Defense Counsel:
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Bernard E. LeSage
Sarah K. Andrus
Adam Bass
BUCHALTER NEMER
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Thomas Wiegand
WINSTON & STRAWN, LLP
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TCA Staff Tidbit: The Ameriquest mortgage class action lawsuit settlement is likely the first of many we’ll see from mortgage lenders over the next few months. The Ameriquest mortgage class action alleged a number of different fees and charges were added on to mortgages. This class action is covering almost every Ameriquest mortgage out there since the end of 2001 (more than 700,000) so you may have a shot at a claim if your mortgage was originated by Ameriquest.
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In addition to the cash benefits being paid out to class members, a new law has been enacted which will change the way mortgages are sold, making them clearer and easier to understand. Right up front you’ll be able to see on your Good Faith Estimate how much you’ll be able to save if you add extra points on your mortgage, take points off, add additional closing charges or choose to remove them. The rules took effect on January 1st, 2010, so home buyers should see them now. Back to the Ameriquest mortgage class action lawsuit settlement. If your mortgage was originated by Ameriquest, make sure to head over to the settlement administrator website and submit your claim now!This could mean THOUSANDS of dollars for you, so make sure to submit your claim in the Ameriquest mortgage class action lawsuit settlement now.
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119 thoughts onAmeriquest Mortgage Class Action Lawsuit Settlement
Ameriquest Mortgage Class Action Lawsuit Settlement
:-) does anyone know how to find out if someone loged in on website how would we find out if we are for sure in the lawsuite
Ameriquest Mortgage Class Action Lawsuit Settlement
Thanks Rebecca, i also have checked other sites and was looking for a real one. Lets pray and hope we will all get something. Anything will help but we did lose much more than that. I also think the credit card companies need to be looked over and fined for years of abuse too.
Ameriquest Mortgage Class Action Lawsuit Settlement
;-)Well, at least you guys seem sane!! There is another web site where they are fighting over the amounts, and trying to figure points, and calling rust inc. on a daily basis!! They are crazy, probrably holding things up to? I agree, if they stated all should get atleast $1000, then I believe its the truth, people on the other site are talking about 18 cent and 20 dollar payouts, that would cause a riot, LOL. We need to be patient, by the end of Oct. we should all be happier!! We now have AHMI, much happier now. Good luck!!!
Ameriquest Mortgage Class Action Lawsuit Settlement
Jewel, I think you are right. I think the smallest amount you would get would be slightly over $1000.00 if involved in only one class but if you would be involved in multiple classes then the payment would go up for each class you were involved in. I think they should have put something out to let us know what class or classes we were involved in.
Ameriquest Mortgage Class Action Lawsuit Settlement
I think the 87 named plaintiffs are not us in the general class members list?? I believe they were the l;eads plaintiffs who brought about this suit? Its a little confusing. But i did read there was 700,000. They will pay the lawyers over 7 million so there wont be so much left. I dont quite understand the formula either on the information site. And lastly they should not hold no one monies if they are due. Can someone figure this out??
Ameriquest Mortgage Class Action Lawsuit Settlement
This is copied from the final judgement and settlement…..
12. The Court has considered submissions concerning Service Payments for each of the
Named Plaintiffs in the amount of $7,500 (plus interest accrued thereon from the date
interest begins to accrue for the benefit of the Settlement Fund). The Court approves
such awards to 87 Named Plaintiffs, based on a finding that such amounts represent
an appropriate payment for service to the Settlement Classes.
Ameriquest Mortgage Class Action Lawsuit Settlement
Tim, supposedly they are paying out October 2010 but does that mean at the beginning or end of the month. The other thing that I read in the lawsuit said that there are 87 class plaintiffs who should receive 7500.00 judgements. I find it hard to believe only 87 of us responded…..has to make you wonder.
Ameriquest Mortgage Class Action Lawsuit Settlement
Does anyone know when they are paying out on the law suit? Plz let me know if they have. Have’ent heard anything,no e-mails no calls and no letters.
Ameriquest Mortgage Class Action Lawsuit Settlement
It is a wonder that they do not publish a list of plantiffs. I submitted my claim on line and was hoping to get something in the mail at least notifying us that we are still part of the laswsuit. Not hearing anything makes you second guess yourself that you actually submitted on time or did it right.
Ameriquest Mortgage Class Action Lawsuit Settlement
:P Oct. is right around the corner!! We will see our money soon!
Keep the faith, hopefully we will each get a minimum of $1000..The 2006 Ameriquest class action paid a min. of $750…If you are in more than one class, it will be more!!
I know that many people deserve much more, but it’s much better than nothing!