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SunTrust Agrees to $320M Settlement to Resolve HAMP Misconduct. As part of the agreement, SunTrust Mortgage must pay $179 million in consumer remediation, up to a maximum of $274 million if necessary; $20 million to fund housing counseling for homeowners; $10 million paid toward restitution to the Federal National Mortgage Association.
SunTrust will pay up to $320 million to settle claims whether it had dealt inappropriately with homeowners looking to take advantage of HAMP.
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SunTrust to pay $320 million over HAMP missteps.. "As a result of SunTrust’s mismanagement of HAMP, thousands of homeowners who applied for a HAMP modification with SunTrust suffered.
· SunTrust Mortgage Inc. agreed to pay up to $320 million to resolve a federal government investigation into claims it misled homeowners seeking mortgage modifications, the U.S. Department of.
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SunTrust Mortgage settles federal probe for $320M By: The Associated Press July 3, 2014 CHARLOTTESVILLE (AP) SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve allegations that it misled customers seeking loan modifications under a government program established to help homeowners avoid foreclosure, the company and federal.
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.
Government programs such as Home Affordable Modification Program (HAMP ) are not available for SunTrust owned loans. Loans Owned by Private Investors: If your mortgage is owned by a private investor, then any loan modification will be evaluated on an individual basis based on the requirements of your investor.
Up to $284 million paid in restitution. SunTrust Mortgage ( STI) 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.
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In an effort to resolve issues related to HAMP in 2009 and 2010, SunTrust Mortgage reached an agreement with the U.S. Department of Justice to pay $320 million.