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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
And yes the news stations are picking this up. Our local station reported on this last night. Remember you can sue just about anyone for anything. But I have been in contact with an attorney, they are looking over everything right now and yes this can be a bait and switch also.
Ameriquest Mortgage Class Action Lawsuit Settlement
This is what you call the typical Bait and Switch. If you all remember there was another multi-state class lawsuit that was going on! You could claim a onetime payment of 500-700 dollars. Many people chose to stick with this claim because you were told the payment could be around 1,000 or more. In the mean time Mr. Roland Arnall, passed away while traveling! The founder of Ameriquest. Remember Ameriquest no longer exists. He sold the company and re-adjusted things. His wife inherited everything. We were all being set up! Yes even by the lead plaintiffs. And to think I was told I was a lead plaintiff and supplied all my paperwork and information to one of the Attorneys. They need to supply the names of these Lead Plaintiffs. If I recall in one of the court Docs it states they did, but I don’t see them on the website anyplace. I would be that the lead plaintiffs are friends of the attorneys. You can only assume this, because until they are produced, you can’t trust anyone anymore.
Ameriquest Mortgage Class Action Lawsuit Settlement
$52 check :'(
Ameriquest Mortgage Class Action Lawsuit Settlement
Dear Borg, any luck calling the stations?
Ameriquest Mortgage Class Action Lawsuit Settlement
guess the devil is really in the details :(
EXCLUSION
If you choose to exclude yourself from the Settlement, you must do so by February 22, 2010. You will not receive payments from the Settlement Fund. This is the only option that allows you to retain the claims you have against Ameriquest and to pursue your claims in another case at your own cost and expense. More information about excluding yourself from the Settlement is provided in section 8 below.
4. Plaintiffs’ Litigation Costs and Fees
The Court will determine what fees to award to the attorneys who have brought these actions. Plaintiffs intend to apply for attorneys’ fees and costs in an amount not to exceed $7.33 million. The attorneys expect to show that they have expended more than that amount in time and costs on this litigation. The attorneys’ fees and costs awarded by the Court will be paid from the Settlement Fund.
Ameriquest Mortgage Class Action Lawsuit Settlement
$52.00 got my check today what a joke
Ameriquest Mortgage Class Action Lawsuit Settlement
Now they are saying the average check is $50?!?! what happened to it being $1000 or more?
Ameriquest Mortgage Class Action Lawsuit Settlement
I called and am class 3 – $48. I think the lead plaintiffs used us all for them to win the $7000 each and for the laywers to win big. This is not right!!! But we have no rights now.
Ameriquest Mortgage Class Action Lawsuit Settlement
As I am writing this I m also on the phone with KRON 4,then KPIX,KGO, right on down the list. those Ameriquest clowns, will be able to hear us from their stinkin graves
Ameriquest Mortgage Class Action Lawsuit Settlement
[:What the hell is going on? We have received 2 checks. We had 3 different loans with Ameriquest for 2 different properties. My husband and I yesterday receive 2 checks so far for $143 each. Not sure how they calculated giving us the same amount for 2 different mortgage amounts????? We are very pissed too. There should be another check on the way. In my opinion, we all were used for ther class action suit to allow them to take thousands for themselves. Such frauds! Something is definitely wrong with our money received. [/b]