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Central Virginia

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BBB Accredited Business since 1/1/1967

SunTrust Mortgage

(800) 634-7928

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Address for SunTrust Mortgage

901 Semmes Ave

Richmond, VA 23224

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The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved.  We are providing a summary of the government's allegations, which have not yet been proven.

On June 17, 2014, the US Department of Justice and the Consumer Financial Protection Bureau filed a Consent Judgment in the United States District Court for the District of Columbia.  Charges filed allege the business is in violation of federal law prohibiting misconduct in the servicing of mortgages.  The matter is pending.  For more details go to http://files.consumerfinance.gov/f/201406_cfpb_consent-judgement_sun-trust.pdf.

In response to these charges, the business provided the following statement:  "SunTrust is pleased to have resolved these legacy mortgage matters.  We are addressing issues related to mortgage matters stemming from the financial crisis and recession period.  Over the past several years, SunTrust has made improvements to its mortgage underwriting processes and internal controls.  This includes increased training and the establishment of a center of specialization to underwrite all government-insured mortgages, which has led to improved quality control and significantly reduced error rates.  We also completed timely implementation of stringent new regulatory requirements for loan origination and disclosure issued by the Consumer Financial Protection Bureau (CFPB) across all of its retail and correspondent origination locations."