Oklahomans to share in Ameriquest settlement

Wednesday, February 1st 2006, 12:06 pm
By: News On 6

OKLAHOMA CITY (AP) _ Some Oklahomans who took loans with Ameriquest will share about $1.8-million as part of a settlement of claims the company engaged in predatory lending practices.

The company has agreed to pay a total of $295-million to settle the claims made by 49 states.

Those who are eligible obtained mortgages from Ameriquest from January first, 1999, through April 30th, 2003.

The Oklahoma Department of Consumer Credit says state officials will contact those who are eligible for a portion of the settlement.

Ameriquest primarily makes refinancing loans to homeowners who are trying to consolidate credit card and other debt.