Wachovia v. Ameriquest - Mortgage Forums for Mortgage Brokers

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Wachovia v. Ameriquest

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10-22-2007, 06:59 AM

Veronica Corningstone Veronica Corningstone is offline

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Wachovia v. Ameriquest

Wachovia Bank N.A. has filed a lawsuit against Ameriquest Mortgage Co. The Charlotte, N.C.-based bank alleges Ameriquest has not complied with repurchase requests on loans acquired in 2005. Ameriquest was allegedly notified of the breaches and asked to either repurchase the loans or cure the breaches in a series of letters in 2006 and 2007. The nonperforming loans included "incorrect credit scores, false employment status and misstatements of the kind of home being financed," Wachovia alleges in its complaint.

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