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Suntrust Banks Inc Settles Some Mortgage Claims With Regulators; Comments On Q3 2013 Charge Guidance-Reuters

Thursday, 10 Oct 2013 05:19pm EDT 

Reuters reported that Suntrust Banks Inc said it settled some claims related to government agency-backed mortgage loans and would take a related charge of $323 million in the third quarter of 2013. The bank said on October 10, 2013 it reached agreements with the U.S. Department of Housing and Urban Development and the Department of Justice to settle mortgage origination claims and its portion of the national mortgage servicing settlement. SunTrust's commitment under the agreements includes a payment of $500 million to consumers and a cash payment of $468 million.