Top Class Actions  |  January 19, 2010

Category: Closed Class Actions

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Ameriquest Mortgage Class Action Lawsuit Settlement Short Form Notice

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.

 

Class Action Lawsuit Settlement Case(s):  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

 

Company(ies): Ameriquest Mortgage Company Ameriquest Logo

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

 

Website Link to access the Class Action Lawsuit Settlement and get YOUR Stake (SUBMIT YOUR CLAIM HERE): Settlement Administrator Website

 

Address of Class Action Lawsuit Settlement Administrator to submit a claim form (NOT REQUIRED):

 

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:  1-877-872-3812

 

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:

 

CLASS ONE: TILA RESCISSION CLASS

 

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.

 

CLASS TWO: BAIT AND SWITCH CLASS

 

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.

 

CLASS THREE: DISCOUNT POINTS CLASS

 

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

 

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

 

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.

 

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.

 

Purchased From: After December 14th, 2001

 

Claims Accepted Until (YOU MUST SUBMIT YOUR CLAIM BY THIS DATE!): 3/09/10

 

MORE DETAILS BELOW!

 

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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

 

Settlement Administrator(s): Rust Consulting, Inc.

 

Plaintiff Counsel:

 

Kelly M. Dermody
Lieff Cabraser Heimann & Bernstein LLP

 

Rachel Geman
Lieff Cabraser Heimann & Bernstein LLP
Gary Klein
Shennan Kavanagh
Jill Bowman
James Hoyer et. al.

Defense Counsel:

 

Bernard E. LeSage
Sarah K. Andrus
Adam Bass
BUCHALTER NEMER

 

Thomas Wiegand
WINSTON & STRAWN, LLP

 

TCA Staff Tidbit: Mortgage ApplicationThe 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.

 

Mortgage ApplicationIn 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

  1. Alice tish Garza says:

    You all kept money’s in order not to pay I have original fraud paperwork snd will submit for years another lawsuit for not compliance
    5147 0verpool

  2. Leticia Alice garza says:

    I never got my settlement

    Never you ignore my request all these year I’m about to file again

    5147 overpool
    I deserve to be pain my portion I submitted my request many years ago and nothing I contact bbb Attrny General and Fred trade

  3. Antoniette Moore says:

    I still haven’t received anything. I called and gave my new address. Don’t know if it was sent to the old address. Can I please get some feedback.

  4. Mike says:

    They sent my 3 eligible Loans claim checks to my Old address, even though I wrote in the New proper address and crossed the old one off, on the Claim form, forgot about this, because never received and come across my paperwork the other day, 7 years later, no checks and too late most likely, wasnt sure if it would go to unclaimed property to the State, and maybe I could still get my 600 .00 x3 = 1800.00, I sure could use that Money, They purposely send to old address, when I clearly filed these on time, and with new address clearly!

  5. Monica says:

    I just came across the claim form that I faxed in on 1-14-2010. I have not received anything. What a joke.

  6. Jenny says:

    Have any of you had a problem with Argent still being on the title of your home when you try to sell it? There was no assignment of mortgage done and the loan has gone through 3 others since the original purchase. No one has an assignment of mortgage from Argent. So now I can’t get them off the title. The current lender has been paid and I should be free and clear, but they can’t get Argent off. HELP!

  7. Margaret Dailey says:

    I submitted a claim form and never received anthing regarding this. Please advise. My Loan # was 0087014031, my address is 3226 Pine Crest Court, Abington, Maryland 21009

  8. Jill Bettencourt says:

    We never got anything for 3 years, then I called those people in Minnisota (I think) who said we’ll take your name. Another 6 months rolled around and I got the standard $48.32 check which I never bothered to cash either as it was an insult. We are like the rest of you, Ameriquest did so many illegal things to us that we will never get this paid off and now Countrywide’s knock-off company, Pennymac’s. Their new CEO, Stanford Kurland who was CEO for COUNTRYWIDE for about 6 years after Mozillo got escorted off and now Pennymac is Foreclosing on us. We were 2 payments ahead on our 14 month old HAMP TRIAL .After Ameriquest shut down we were told that Citimortgage was our Servicer, then we were robo-signed by Citimortgage and PennyMac….I am now distrustful, discussted but I can only keep on fighting. All of us who had Ameriquest as an original lender need to know if our loans were securitized. Ours was not, so we can’t even find out who the sold ours to, it was never sent into the SEC like it should have been. I think that the people who wrote out these pitiful checks…need to be audited, too much money out there, we received too little money by a lot and SOMEONE is getting the money.

  9. vince bales says:

    Still have not got check yet. What a joke

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