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SunTrust pays $320M to resolve HAMP violations

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.

SunTrust pays $320M to resolve HAMP violations 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.

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Survey shows first-time homebuyers growing weary of short sales PDF A Closer Look at the Data on First-Time Homebuyers – first-time homebuyer time series tends to be driven by shifts in FHA’s market composition. Following the crisis, the FHA’s share of the purchase mortgage market mushroomed from around 6 percent in 2007 to over 40 percent in 2010. The joint first-time homebuyer share thus reflected FHA’s higher share.

SunTrust Mortgage Inc. has agreed to pay up to $320 million to resolve allegations. SunTrust Mortgage Settles Federal Probe for $320M. "SunTrust’s administration of the HAMP.

SunTrust will pay up to $320 million to settle claims whether it had dealt inappropriately with homeowners looking to take advantage of HAMP.

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.

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 · 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.

Atlanta-based SunTrust Banks has agreed to a settlement of up to $320 million to resolve a criminal investigation into the lender’s treatment of applicants to a federal mortgage-assistance.

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