SunTrust Mortgage, Inc.
The CFPB, Department of Justice (DOJ), Department of Housing and Urban Development, and attorneys general in 49 states and the District of Columbia filed a proposed federal court order requiring SunTrust Mortgage, Inc. to provide $500 million in loss-mitigation relief to underwater borrowers. The order also requires SunTrust to pay $40 million to approximately 48,000 consumers who lost their homes to foreclosure and $10 million to the federal government. SunTrust must also pay a $418 million penalty, in a parallel mortgage lending filing by DOJ.
CFPB, Federal Partners, and State Attorneys General File Order Requiring SunTrust to Provide $540 Million in Relief to Homeowners for Servicing Wrongs