SunTrust pays $320M to resolve HAMP violations

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The next day he called – and.SunTrust pays $320M to resolve hamp violations 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.

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 · SunTrust pays $320M to resolve HAMP violations. 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.

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.

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Lennar earnings soar amid positive builder news By Austen Hufford and Tess Stynes Home builder Lennar Corp. posted another quarter of gains in key metrics as the U.S. housing market continues to recover. The company’s third-quarter results came in above analysts’ expectations. Fellow builder KB Home also reported continued growth in the latest quarter on Tuesday afternoon, with its per-share earnings beating [.]

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 · SunTrust in $320M settlement of US criminal mortgage probe. It will also pay $10 million to government-controlled mortgage finance companies Fannie Mae and Freddie Mac, $16 million to combat mortgage fraud and $20 million to counsel distressed homeowners. SunTrust will also boost staffing and tighten oversight.

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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"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRA Link opens a new window and SIPC Link opens.

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.