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Violation Tracker Individual Record

Company: SunTrust Mortgage Inc.
Current Parent Company: Truist Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $320,000,000
Year: 2014
Date: July 3, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: The Department of Justice announced an agreement with SunTrust Mortgage Inc. that resolved a criminal investigation of SunTrust's administration of the Home Affordable Modification Program. SunTrust was said to have misled numerous mortgage servicing customers who sought mortgage relief through HAMP. Specifically, SunTrust was accused of making material misrepresentations and omissions to borrowers in HAMP solicitations, and failing to process HAMP applications in a timely fashion. The DOJ announcement did not mention that SunTrust had been offered a non-prosecution agreement. That fact was revealed in a press release issued by the Special Inspector General for the Troubled Asset Relief Program: (click here)
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.