Suntrust Settles HAMP Investigation

first_img  Print This Post in Featured, Government, Headlines, News Derek Templeton is an attorney based in Dallas, Texas. He practices in the areas of real estate, financial services, and general corporate transactional law. His experience includes time as an Attorney Adviser for the U.S. Small Business Administration and as General Counsel for a nonprofit organization in Dallas. A self-avowed “policy junkie,” he has a keen interest in the effect that evolving federal policy has on the mortgage, default servicing, and greater housing industries. The Best Markets For Residential Property Investors 2 days ago July 3, 2014 830 Views In a filing with the SEC, Suntrust Banks, Inc. announced Thursday afternoon that it would pay up to $320 million to halt a criminal investigation into whether it had dealt inappropriately with homeowners who were looking to take advantage of the Home Affordable Modification Program (HAMP).Several government agencies had been investigating SunTrust in connection with complaints that it misled homeowners who sought mortgage relief from SunTrust through HAMP and failed to timely process HAMP applications.”Resolving this legacy matter enhances our ability to focus on the future and support the continued housing recovery,” said Jerome Lienhard, SunTrust Mortgage, Inc. President and Chief Executive Officer.  “We recognize that there were deficiencies in our administration of HAMP during the recession, and through the improvements we have made to our internal processes and this restitution plan, we are demonstrating our commitment to meet the high standards that we set for ourselves and that our customers expect.”Under the terms of the agreement, Suntrust agreed to pay a minimum of $179 million in consumer remediation, a number that could inflate to $274 million as necessary. Additionally, the company will pay $20 million to fund housing counseling, $10 million in remediation to Fannie Mae and Freddie Mac, and 16 million to the Treasury Department.The agreement marks another enforcement victory for the government as they continue to resolve complaints related to the company’s dealings. Last month the Bank agreed to pay nearly one billion dollars to resolve complaints about actions that the government termed “systemic mortgage servicing misconduct,” including failing to promptly and accurately apply borrower payments, robo-signing, and other illegal foreclosure practice.Michael P. Stephens, Acting Inspector General of the Federal Housing Finance Agency Office of Inspector General reaffirmed the federal government’s commitment to consumer protection.“Today’s agreement with SunTrust underlines the importance of holding accountable those individuals and companies who pledge to ensure that homeowners are protected at all times; especially during times when the homeowner is seeking to save their home through a loan modification”,  said Stephens in a statement. “SunTrust has conceded that their HAMP program had numerous deficiencies and has harmed a significant amount of homeowners.  This behavior will not be tolerated.  We are proud to have worked with our law enforcement partners on this case.”In addition to the monetary penalty, SunTrust has agreed to increase its loss mitigation staff, monitor their mortgage modification process, and provide semi-annual reports regarding compliance with the agreement. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Investigation Settlement SunTrust Banks Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Suntrust Settles HAMP Investigation Investigation Settlement SunTrust Banks 2014-07-03 Derek Templeton Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articlescenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / Suntrust Settles HAMP Investigation About Author: Derek Templeton Share Save Previous: Recovery Evident in Latest Housing Trends Next: Treasury Receives Final TARP Payment from One of Largest Remaining Banks The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

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Thursday night fun returns to Studio

first_img “That helps to ease the financial burden so that we can continue our obligation of staying open and free to the public,” Metzger said.For ticket reservations, call 670-2287. Plans underway for historic Pike County celebration Book Nook to reopen You Might Like Midway, rides open tonight Blue ribbons adorn the canning exhibits at the fairgrounds. The main hall features competitive exhibits and informational booths and is… read more Print Article Pike County Sheriff’s Office offering community child ID kits Thursday night fun returns to Studio By Jaine Treadwell “‘Thursday Nights in the Studio’ is actually an indoor tailgate party,” Metzger said. “Everyone is invited to bring a picnic basket and a cooler with their favorite beverage and enjoy a great concert and the fellowship of friends and neighbors.”Tables for eight are $100, singles are $12.50 and couples are admitted for $25.“Seating is limited and tables are going fast,” Metzger said. Sponsored Content Skip Latest Stories Remember America’s heroes on Memorial Day “There was an outstanding lineup of entertainers for the September Thursday Night and we have an equally outstanding lineup for Thursday night’s event. Phil Kelly will be the emcee and Lenny Trawick, Eddy Davis and Sarah Guthrie will headline the concert, which will also feature several guests from Troy University.”The concert will open with a number from the upcoming Troy University production, “The Drowsy Chaperone” and Trawick will follow with his unique front porch style of the blues.“Eddy Davis sings more of a Frank Sinatra and Johnny Mathis style of music,” Metzger said. “Sarah Guthrie sings Patsy Cline’s kind of music so there will be a variety of styles and something for everyone to enjoy.”The funds raised by the “Thursday Nights in the Studio” are used to pay the utility bills at the Johnson Center. Published 9:19 pm Tuesday, October 5, 2010 By The Penny Hoarder The Penny Hoarder Issues “Urgent” Alert: 6 Companies… Troy falls to No. 13 Clemson “Thursday Nights in the Studio” will present Lenny Trawick, Eddy Davis and Sarah Guthrie in concert “Thursday Night” at The Studio, 301 East Walnut St., in Troy.Doors open at 5:30 p.m. and the music starts at 6 p.m.“Thursday Nights” is a monthly fundraiser sponsored by the Johnson Center for the Arts and the first “Thursday Night” in September was such a great success that a packed house is expected this week, said Richard Metzger, Johnson Center director. Around the WebMd: Do This Immediately if You Have Diabetes (Watch)Blood Sugar BlasterIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthRemember Them? I’m Sure Their New Net Worth Will Leave You SpeechlessbradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Email the authorlast_img read more

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President Donald Trump expected to attend Daytona 500 this weekend

first_imgPresident Donald Trump is expected to attend the Daytona 500 on Sunday. The White House is yet to confirm, but the Daytona Beach International Airport said additional security measures would be in place at the airport due to the president’s visit Sunday.The U.S. Secret Service also sent out a tweet that they are securing Daytona International Speedway by providing a 30-mile “no drone zone.”Ladies and Gentlemen start your engines but not your drones. The Secret Service is securing the @NASCAR Daytona 500 by providing a 30 mile “No Drone Zone”. Enjoy the race.— U.S. Secret Service (@SecretService) February 12, 2020last_img read more

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