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06-17-2014, 09:53 PM #1
SunTrust to Pay $968 Million Over Mortgages
SunTrust to Pay $968 Million Over Mortgages
By Associated Press | More Articles
June 17, 2014
SunTrust has reached a nearly $1 billion settlement with the government to resolve allegations that it underwrote and provided risky mortgage loans.
The Justice Department on Tuesday announced the $968 million deal with SunTrust Mortgage, a Virginia-based lender and subsidiary of SunTrust Banks.
Attorney General Eric Holder said SunTrust's conduct is a "prime example" of the widespread underwriting failures that helped bring about the recent financial crisis.
As part of the deal, SunTrust has agreed to provide $500 million in homeowner relief and $418 million to resolve allegations that it underwrote bad loans.
SunTrust chief executive William Rogers said in a statement that the bank was pleased to have resolved the allegations.
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06-17-2014, 09:58 PM #2
- SunTrust settlement to bring $33 million to Maryland
Baltimore Sun-3 hours ago
SunTrust Mortgage to provide NC residents $21.5 million in relief - News & Observer-4 hours ago
SunTrust Mortgage will provide North Carolina residents millions of dollars of financial relief as part of a settlement with the state Attorney ...
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- SunTrust settlement to bring $33 million to Maryland
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06-17-2014, 10:05 PM #3
- Colorado borrowers to share in SunTrust mortgage settlement
Denver Business Journal-4 hours ago
SunTrust Banks Inc. has reached an agreement to pay $968 million to settle claims related to its origination of FHA-insured mortgages and its ...
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- Colorado borrowers to share in SunTrust mortgage settlement
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