Jury Orders Ameriquest to Pay $4.9 Million
An Oklahoma woman who sued Ameriquest Mortgage Co. alleging that it botched the refinancing of three rental homes she owns was awarded $4.9 million by a state court jury, which found the Orange lender liable for negligence, defamation and interfering with her business.
The Tulsa County District Court jury Nov. 17 awarded $1.94 million in actual damages and $3 million in punitive damages to Melba Gillean, who contended that Ameriquest never paid off her old loans or funded the new loans, and ruined her credit by reporting her delinquent despite the fact that she continued paying on the original mortgages.
An Ameriquest spokesman said Monday that there was never a valid agreement governing the refinancings, and that the company would “pursue all our options including appeals.”
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E. Scott Reckard
