Across America, state attorney generals have been releasing the specific dollar amounts borrowers will receive as part of the settlement agreement that has been reached with Ameriquest Mortgage Co. and its affiliates. Hundreds of thousands of borrowers will now share in a $325 million national settlement.

Ameriquest, along with affiliates Town and Country Credit Corp. and AMC Mortgage Services, had been accused of predatory lending charges. The settlement was reached last year but figures for each state were released only this past week.

Consumers who secured loans between January of 1999 and December of 2005 are eligible. State attorney general offices have begun sending out letters and claim forms to the borrowers that qualify. Those borrowers will then have until September 10th to file their claims.

The settlement that effects borrowers in every region of the country is a result of the alleged misleading lending practices of Ameriquest, Town and Country Credit Corp. and AMC Mortgage Services. The issue centered upon inadequate disclosure of loan terms provided to prospective homeowners.

One major allegation dealt directly with the most basic of loan terms, whether or not a specific loan came with a fixed or an adjustable rate. Other allegations centered upon excessive origination fees and prepayment penalties in addition to the company refinancing borrowers into loans based on inflated appraisals.