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.
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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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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.
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.
Pay by check: SunTrust Bank PO Box 79041 Baltimore, MD 21279-0041. Buying or refinancing? Get started on your mortgage application today. Home Mortgages Resource Center. Fact or Fiction: Homebuyers Need 20 Percent Down. When it comes to the amount of money you need to put down toward a home.
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.
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.
Fed official hints at second round of quantitative easing Treasury puts HAMP eligibility calculator online OPTION 2: PURSUE A MORTGAGE LOAN MODIFICATION WITH THE GOVERNMENT’S HOME AFFORDABLE MODIFICATION PROGRAM: To learn about the options available to you under the Departments of Treasury and Housing and Urban Development official program, please click the button below to go directly to the official website of Making Homes Affordable. Go
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