Wednesday, July 27, 2005

The Next Big Mortgage Fraud Settlement?

The Minneapolis Star Tribune is reporting that Minnesota Attorney General Mike Hatch is on the verge of announcing a settlement with Ameriquest regarding a number of challenged practices regarding subprime mortgages. The Minnesota settlement will likely be the pattern used to settle claims by other states' attorneys general.

The allegations include counts that Ameriquest routinely falsified mortgage applications by falsifying income, work history, etc.

Hatch investigating Ameriquest
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