- Posted June 19, 2014
- Tweet This | Share on Facebook
Michigan gets $4.6 million in SunTrust settlement
LANSING (AP) - Michigan Attorney General Bill Schuette says that state residents will be getting $4.6 million as part of a $968 million national settlement of improper mortgage complaints against SunTrust Mortgage.
The U.S. Justice Department announced Tuesday that the Virginia-based SunTrust Banks subsidiary will make the payments to resolve allegations that it underwrote and provided risky mortgage loans.
Schuette says the deal includes $3.6 million in first lien principal reductions or other relief to Michigan borrowers. He says about $1 million will go to foreclosed homeowners.
He says the average aid amount exceeds $1,000 and calls it another step "to address the damage inflicted on Michigan homeowners during the national mortgage crisis."
SunTrust chief executive William Rogers says he's pleased to resolve the case.
--------
Details and how to apply online : http://1.usa.gov/U7zEh2.
Published: Thu, Jun 19, 2014
headlines Oakland County
- Bench/Bar Conference
- Whitmer signs bipartisan bills to support the education and safety of Michigan Children, other legislation
- Attorney general decries latest DTE electric rate hike request
- Federal judges approve redraw of Detroit-area state House seats ahead of 2024 election
- Local moot court team impresses at ABA National Advocacy Competition
headlines National
- 50 Years of Service: ABA has been a ‘stalwart ally’ for LSC funding
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Biden recalls time he bluffed knowledge of torts case and why he changed his mind about civil-trial work
- Lawyers’ ‘barrage of personal attacks’ on opponents started with tissue-box toss, appeals court says
- Longtime prosecutor resigns after judge tosses him from case, citing Perry Mason-type revelations
- 24% of law students expect to work in public service, survey says