Tag Archives: HAMP

SunTrust Mortgage Faces Class Action Lawsuit

A class action lawsuit has been filed against SunTrust Bank Inc. and SunTrust Mortgage Inc. The suit alleges that SunTrust has deceived homeowners into paying thousands of dollars for home loan modifications under the United States Treasury’s Home Affordable Modification Program (HAMP) and failed to complete the agreements and promised actions. HAMP is a federal program that provides incentives to banks which participate to make agreements with homeowners to adjust their mortgages and make them more affordable. The class alleges that SunTrust initially accepted the offered modification payments but refused the permanent modifications of the home loans and in some cases forced the owners to default. The lawsuit claims that SunTrust is accused of breach of contract, breach of implied covenant of good faith and fair dealing, and violation of both Kentucky’s Consumer Protection Act and the Truth in Lending Act. The class action complaint was filed in the U.S….
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