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  1. #1
    Senior Member JohnDoe2's Avatar
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    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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  2. #2
    Senior Member JohnDoe2's Avatar
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    1. SunTrust settlement to bring $33 million to Maryland
      Baltimore Sun-3 hours ago



      SunTrust Mortgage to provide NC residents $21.5 million in relief
    2. 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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    Senior Member JohnDoe2's Avatar
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    1. 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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