Attorney General Tom Miller announced today that checks totaling more than $2.6 million will be sent to 2,965 Iowa households today and Friday as part of the state’s settlement with Ameriquest Mortgage Co. It is the largest consumer restitution in Iowa’s history.

The settlement stems from a lawsuit that alleged Ameriquest employees deceived consumers as part of high-pressure tactics to sell enough mortgage refinancings to meet desired sales levels and high monthly individual sales quotas. Miller was the leading state attorney general in the nationwide case, which was resolved last year with Ameriquest agreeing to pay $295 million to consumers nationwide and reform its sales practices.

Payment checks in Iowa will average about $884 and will range from $159 to $3,389. For questions about the settlement, call (800) 420-5875.

This is part of Miller’s efforts to help alleviate the housing crisis. The Iowa Foreclosure Hotline started on Sept. 11 to help consumers facing a threat of foreclosure has received nearly 5,000 calls since its inception, Miller said today, and the Iowa Mediation Service has opened 500 cases. Miller also has organized an 11-state task force to meet with mortgage servicing companies and investors to find ways for them to modify the terms of some of the most troubled subprime loans instead of foreclosing.