SunTrust Mortgage agreed this week to pay $968 million to the Department of Justice, Department of Housing and Urban Development, and the Consumer Financial Protection Bureau, along with 49 state attorneys general and the District of Columbia’s attorney general for mortgage origination, servicing, and foreclosure abuses.
In a statement, Attorney General Eric Holder warned that similar cases are on the way. “SunTrust’s conduct is a prime example of the widespread underwriting failures that helped bring about the financial crisis,” Holder said. “We will continue to hold accountable financial institutions that, in the pursuit of their own financial interests, misuse public funds.”
