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Sub-prime Lender Accused of Unfair Practices

February 05, 2005

Class-action suit sought in California. Connecticut is also investigating lender.

By ANDREW GALVIN and JEFF COLLINS
The Orange County Register

Ameriquest Mortgage Co. faces allegations that it misled and overcharged borrowers, falsified loan applications and saddled low-income and minority homeowners with loans they couldn't afford, public records show.

Ameriquest, based in Orange, is one of the nation's largest lenders to borrowers who have tarnished credit histories or other difficulties getting loans.