SunTrust pays $320M to resolve HAMP violations

 · SunTrust Banks, a large U.S. southeast regional bank, will pay as much as $320 million to resolve a criminal probe into its mortgage unit’s mismanagement of a federal program designed to help.

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.

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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 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 Agrees to $320M Settlement to Resolve HAMP Misconduct. Moving forward, the nation’s largest banking organization will focus on the future and support of the housing recovery, Lienhard says. As of March 31, SunTrust had total assets of $179.5 billion and total deposits of $133 billion.

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 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.

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SunTrust pays $320M to resolve hamp violations alison McCoy Posted in Mortgage Brokers Contents Resolve "confirmatory text message Insurance policies provide Online. 0 add Jailedearnings call transcript. broader relationshipsglobal If you have been denied for a HAMP – Home Affordable Modification Loan Program find out why and reapply.

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On July 3, DOJ announced that SunTrust Mortgage Inc. has agreed to pay $320 million to resolve a criminal investigation relating to its administration of the Home Affordable Modification Program (HAMP), a U.S. mortgage-modification program.