Ameriquest settlement claims forms sent out

More than 12,000 Washington state residents are eligible to split an estimated $9.1 million in restitution from Ameriquest Mortgage stemming from a national settlement in which states last year alleged widespread fraud by Ameriquest and its related companies.

Eligible consumers were sent claim forms this week, Attorney General Rob McKenna and Scott Jarvis, Director of the Department of Financial Institutions, said today.

The settlement, which grew out of allegations that Ameriquest schemed to sell mortgages that trapped consumers and put them at high risk of foreclosure, will split $350 million among borrowers nationwide. McKenna said he expects Washington consumers to receive between $100 and $4,400, depending on their circumstances.

Consumers must return their completed forms to the settlement administrator by Sept. 10.

More information is available online at www.ameriquestmultistatesettlement.com or by calling the settlement administrator at 800-420-5875.