Ameriquest Settlement:Master Settlement Agreement • October 18th, 2006
Contract Type FiledOctober 18th, 2006In January, 49 states (including Georgia) and the District of Columbia entered into a Master Settlement Agreement with ACC Capital Holdings Corporation, and the following subsidiaries; Ameriquest Mortgage Company, Town & Country Credit Corporation, and AMC Mortgage Services, Inc. f/k/a Bedford Home Loans (hereinafter “Ameriquest”), to resolve the concerns of the states about Ameriquest’s lending practices from January 1, 1999 to December 31, 2005. A provision of that Master Settlement Agreement required that all 49 states and the District of Columbia file either civil or administrative actions against Ameriquest in their individual states by March 21, 2006, and Orders be entered in each of those actions adopting the terms of the Master Settlement Agreement. The Georgia Department of Banking and Finance (hereinafter “Department) and the Governor’s Office of Consumer Affairs agreed to the terms of the Master Settlement Agreement on behalf of the State of Georgia. A Complaint For Injuncti