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.
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.
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 pays $320M to resolve HAMP violations Posted on July 3, 2014 | Leave a comment 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.
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SunTrust Mortgage Inc. agreed to pay $320M to resolve a criminal investigation of SunTrust’s administration of the Home Affordable Modification Program (HAMP). According to the government, SunTrust misled numerous customers who sought mortgage relief through HAMP by making material misrepresentations and omissions to borrowers in HAMP.
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