SunTrust Banks Inc. says it has agreed to cash payments and consumer relief totaling more than $1 billion to settle claims over its handling of government-backed mortgages. The claims covered FHA-insured mortgages that the bank originated between 2006 and early 2012 and claims under a national settlement program.
Georgia has distributed only a fraction of federal money available to help struggling homeowners pay their mortgages and avoid foreclosure. That’s because few people know there’s money available two years into the program.
Three Georgia counties are suing a British bank, claiming that predatory lending harmed property owners as the housing market collapsed. Cobb, DeKalb and Fulton Counties filed the lawsuit Thursday against London-based HSBC in U.S. District Court in Atlanta.