National SunTrust Mortgage Settlement

SunTrust Mortgage Inc. has agreed to pay $500 million as part of a class action settlement with the federal government and the attorneys general in 49 states and the District of Columbia related to SunTrust’s alleged misconduct regarding its mortgage servicing and foreclosure practices. If you were a SunTrust borrower who was foreclosed upon between Jan. 1, 2008 and Dec. 31, 2013, you may be eligible for benefits from the SunTrust settlement.

SunTrust was accused of signing foreclosure documents without confirming the facts were correct. The mortgage company was also accused of signing the documents without having a notary present.

The SunTrust settlement will provide approximately $500 million in various forms of relief to eligible borrowers. Under the terms of the SunTrust settlement, approximately $40 million in direct payments will be distributed to foreclosed borrowers. The SunTrust mortgage settlement was reached in June 2014 and took effect in September 2014.

The SunTrust settlement administrator mailed Claim Forms to approximately 45,000 Class Members earlier this month. If you did not receive notice of the SunTrust settlement but believe you may qualify for benefits, contact the settlement administrator at 1-866-590-8532.

Who’s Eligible

Borrowers must meet certain minimum criteria to be eligible for payment from the SunTrust settlement:

• The loan must have been serviced by SunTrust at the time of the foreclosure sale;
• The loan went into foreclosure sale between Jan. 1, 2008 and Dec. 31, 2013;
• The borrower made at least three payments on the loan;
• The home was, or was intended to be, the borrowers’ primary residence at the time the mortgage loan was obtained;
• The borrower had a mortgage loan secured by a one-to-four unit residential property; and
• The unpaid principal balance of the first-lien mortgage loan did not exceed $729,750 for a one-unit property; $934,200 for a two-unit property; $1,129,250 for a three-unit property; or $1,403,400 for a four-unit property.

Borrowers who received a payment from the National Mortgage Settlement (involving Bank of America, JP Morgan Chase, Citibank, Wells Fargo, and GMAC/Ally) or the National Ocwen Settlement (involving Ocwen Loan Servicing, Litton Loan Servicing, and American Home Mortgage Servicing Inc. aka Homeward Residential) are ineligible to receive a payment from the National SunTrust Settlement.

Note: Borrowers from Oklahoma are not eligible for direct payments because Oklahoma did not join the SunTrust settlement.

Potential Award

Varies. The Notice Package, which was mailed earlier in March 2015, will contain a letter containing the minimum payment you are eligible to receive and instructions on how to file a claim. According to the SunTrust settlement website, eligible loans will receive a minimum payment of approximately $850.

If you did not receive a Notice Package but believe you may be eligible for benefits from the SunTrust settlement, contact the settlement administrator at 1-866-590-8532.

Proof of Purchase

N/A

Claim Form

Claim Form Deadline

6/4/2015

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