- 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
- Associations gather for Spring Fling
- Supreme Court denies rehearing request by attorneys sanctioned for meritless election lawsuit
- Law school conducts ‘Know Your Rights Day’ for high school students
- Oakland County household hazardous waste dropoff events promote environmental stewardship and safeguard communities
- Nessel testifies in support of BRITE Act
headlines National
- Incarceration series includes female inmates but doesn’t tell full story
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Former DOJ official who alleged election fraud violated at least one ethics rule, ethics committee says
- Winston & Strawn will provide reduced-cost legal services for routine tasks under Winston Legal Solutions umbrella
- Should Justice Sotomayor retire? Chemerinsky, White House haven’t joined calls for her to step down
- Which BigLaw firms are increasing lateral associate hiring the most? One made legal headlines last year