Attorneys general and banking regulators from 49 states have hired former Mississippi Attorney General Mike Moore to monitor Ameriquest Mortgage Co.'s compliance with the $325 million settlement announced last month.
Mr. Moore said Friday in an interview that he would have "a lot of people around the country working" on the assignment.
In addition to paying $295 million of borrower restitution and $30 million to the states, Ameriquest agreed to reform its appraisal and other lending practices. The settlement says the ACC Capital Holdings unit must give the monitor access to "all documents necessary" to gauge its compliance and make its employees available for interviews within seven days of the monitor's request.
Mr. Moore, who runs a law firm in Flowood, Miss., was the state's attorney general from 1988 to 2004.
