Presenter Information

Joseph A. Smith


SunTrust Mortgage, Inc.


19-5-2016 12:00 AM


Office of Mortgage Settlement Oversight


May 19th, 12:00 AM

Update on SunTrust's Consumer Relief and Compliance: A Report from the Monitor of the National Mortgage Settlement

According to this self-reported, gross data, 24,166 SunTrust borrowers have benefited from some type of consumer relief. Of those borrowers, 669 received first lien modification forgiveness totaling approximately $84 million, which, on average, represents about $125,749 per borrower. More than 7,600 borrowers received new loans; these borrowers are either first-time homebuyers, live in hardest-hit areas or previously lost a home to foreclosure or short sale.