Saturday, March 28, 2015

National SunTrust Settlement for misconduct in Mortgage

Claim online for National SunTrust Settlement for Mortgage at NationalSunTrustSettlement.com, with all necessary information and useful links.

SunTrust alleged for unacceptable mortgage originations as well as servicing & mistreatment of foreclosure. It claimed for signing foreclosure documents without confirming necessary facts also claimed for signing the documents with no notary present. So as SunTrust borrower, if you foreclosed upon during Jan. 1, 2008 to Dec. 31, 2013, then you may be eligible for getting SunTrust settlement benefits. Visit NationalSunTrustSettlement.com for your hassle free claiming of the settlement, online.

Claim National SunTrust Settlement online

SunTrust violated the law during January 2006 and March 2012, as it originated and underwrite Federal Housing Agency-insured mortgages which failed to meet the agency’s requirements. Also, the bank couldn’t recognize many loans that unable to meet standards and then also avoided to report to HUD on finding the problematic loans.

In June 2014, this mortgage settlement was reached in and consent judgment was taken in September 2014. SunTrust admitted a large portion of $500 million in different forms of relief to eligible borrowers. Here about $40 million will be distributed to approximately 48,000 foreclosed borrowers in direct payments. Additionally, new homeowner protections will be provided by reducing the principal for borrowers who are at risk of default also by dropping down interest rates for those who are existing but underwater on their mortgages.

Claim Forms and Notice Letter of the SunTrust settlement have been mailed in postcard to about 45,000 Class Members in early March 2015. Borrowers who are eligible but have not received a Notice Letter by the end of March 2015, may contact the administrator at 1-866-590-8532, Monday to Friday between 7:00 a.m. and 7:00 p.m. Central Time.

Who are eligible for National SunTrust Mortgage Settlement?


Borrowers must made minimum three payments on the loan, and whose
Loan must be under service at the time of the foreclosure
Loan must be foreclosed between January 1, 2008 and December 31, 2013

Home was, or was intended to be, the borrower's’ primary home when mortgage loan was obtained
Mortgage loan must be secured by a one-to-four unit residential property; and due principal balance of the first-lien mortgage loan did not go over
$729,750 for a one-unit property;
$934,200 for a two-unit property;
$1,129,250 for a three-unit property; and
$1,403,400 for a four-unit property

Who are not eligible?

Borrowers who have already received payment from the following two settlements are not eligible to get a payment from the National SunTrust Settlement.
National Mortgage Settlement (including Bank of America, JP Morgan Chase, Citibank, Wells Fargo, and GMAC/Ally) or
National Ocwen Settlement (including Ocwen Loan Servicing, Litton Loan Servicing, and American Home Mortgage Servicing Inc. aka Homeward Residential)

Note: Also Borrowers residing in Oklahoma are not eligible for direct payments as Oklahoma did not join the SunTrust settlement.

Potential Award: Varies.

Each mailed Notice package will enclose a letter mentioning the minimum payment you are eligible to receive along with instructions on how to file a claim. As per the SunTrust settlement website, eligible loans will get a minimum payment of about $850.

Proof of Purchase: Not Necessary
Claim Form: File your claim HERE
Claim Form Deadline: June 4, 2015
Case Name: United States of America, et al. v. SunTrust Mortgage Inc., Case No. 1:14-cv-01028-RMC, in the U.S. District Court for the District of Columbia
Final Hearing: N/A
Settlement Website: www.NationalSunTrustSettlement.com

Claims Administrator:
National SunTrust Settlement Administrator
1-866-590-8532
SettlementAdministrator@NationalSunTrustSettlement.com

Class Counsel: N/A
Defense Counsel: N/A

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