Attorney General Rob McKenna and the state Department of Financial Institutions (DFI) on January 23, 2006 announced a $325 million nationwide settlement with Ameriquest Mortgage Company. The agreement resolves allegations of widespread fraud by the company as part of a high-pressure scheme to sell mortgages that trapped consumers into debt and put them at risk of losing their homes.
Ameriquest Settlement Information
- How To Complete The Release Form & FAQs About Restitution (PDF)*
- Sample Settlement Release Form (PDF)*
- Settlement Facts
- Allegations Against Ameriquest
- Ameriquest Settlement Provisions
Ameriquest Settlement Documents
Ameriquest Settlement Website and Phone Number
A new website and national toll-free phone number are now available for consumers seeking information about the multi-state settlement with Ameriquest Mortgage Company. DFI encourages consumers to call 1-800-420-5875 or visit the settlement website:
- For detailed information on the settlement with Ameriquest
- To learn more about who is eligible to receive restitution payments
- To find answers to frequently asked questions
- December 14, 2007 Thousands Of Washington Residents To Receive Ameriquest Checks Next Week
- July 12, 2007 Media Release Announcing Restitution Packets Have Been Mailed
- January 23, 2006 Media Release Announcing Ameriquest Settlement
Predatory Lending Information
Lending and mortgage origination practices become "predatory" when the borrower is led into a transaction that is not what they expected. Predatory lending practices may involve lenders, mortgage brokers, real estate brokers, attorneys, and home improvement contractors. Their schemes often target people who have small incomes but substantial equities in their homes. Learn more.
DFI's Guide to Home Loans
Whether you're buying your first home, considering a second mortgage, or refinancing, the loan process can be confusing and complicated - even overwhelming. As you embark on one of the biggest financial decisions you'll make in your lifetime, it's important that you understand what to expect before you sign your name to the dotted line. Learn more.