SunTrust pays $320M to resolve HAMP violations

SunTrust pays $320M to resolve HAMP violations

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SunTrust to pay $320M for HAMP violations July 8, 2014 – SunTrust Mortgage will pay $320 million in order to resolve the Justice Department’s investigation into its misleading of homeowners interested in the federal home affordable modification Program, or HAMP.

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Still others provide job counseling and training and help wounded veterans find.Former Flagstar Bancorp CEO leaves for good Treasury may accelerate tarp bank exits Castle & Cooke expands, adds Michael Frazier as regional manager SunTrust pays $320M to resolve HAMP violations SunTrust Mortgage Inc. agreed to pay $320M to resolve a criminal.

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SunTrust Mortgage pays $320M to resolve HAMP violations | 2014-07-03 | HousingWire. SunTrust Mortgage pays $320M to resolve HAMP violations | 2014-07-03 | HousingWire. Posted 3rd July 2014 by Mortgage Audits Online. 0 Add a comment Jul. 1.

SunTrust Banks, Inc. (NYSE: STI) today announced that the United States Attorney’s Office for the Western District of Virginia and SunTrust Mortgage, Inc. have reached an agreement resolving claims related to the company’s administration of the federal Home affordable modification program (HAMP).

SunTrust has agreed to pay $320 million to resolve the criminal investigation into SunTrust’s HAMP Program. The money is divided as follows: Restitution – SunTrust will pay $179 million in restitution to compensate borrowers for damage caused by its mismanagement of HAMP.

SunTrust Mortgage agreed to pay $320 million to resolve the criminal investigation into the company’s Home Affordable Modification Program by the U.S. Department of Justice. According to the DOJ, SunTrust misled numerous mortgage servicing customers who sought mortgage relief through HAMP.

Treasury may accelerate TARP bank exits Castle & Cooke expands, adds Michael Frazier as regional manager SunTrust pays $320M to resolve HAMP violations SunTrust Mortgage Inc. agreed to pay $320M to resolve a criminal investigation of SunTrust’s administration of the home affordable modification program (hamp).

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