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Tag Archives: SunTrust

SunTrust Agrees to Pay $320M in HAMP Settlement

SunTrust Banks, Inc., announced that it would pay up to $320 million to halt a criminal investigation into whether it had dealt inappropriately with homeowners who were looking to take advantage of the Home Affordable Modification Program (HAMP). "Resolving this legacy matter enhances our ability to focus on the future and support the continued housing recovery," said Jerome Lienhard, SunTrust Mortgage, Inc., president and CEO.

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SunTrust, Feds Reach $968M Mortgage Settlement

SunTrust Banks announced it has struck a nearly $1 billion deal with the government to settle allegations of misconduct in its lending and servicing practices. In an agreement reached with the Consumer Financial Protection Bureau (CFPB), Justice Department, HUD, and attorneys general in 49 states and the District of Columbia, SunTrust agreed to provide relief to consumers and payments to the government totaling a combined value of $968 million.

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