Ameriquest may refund $295 million in alleged overcharges
Diana Heeb Bivona
Ameriquest Mortgage Co. may overhaul its business practices under the eye of an outside monitor to settle allegations by 33 states that it overcharged its home loan customers, according to a draft of the settlement obtained by the Los Angeles Times.
The proposed deal includes a payment of $325 million – $295 million to repay borrowers and $30 million to cover the cost of the states’ investigation, according to a copy of the proposal obtained by the Times. To read this article, click here.
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