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Showing results for Suntrust Mortgage, Inc. (as to Chiara Benitez)
...JPMorgan Chase, Ocwen Financial and SunTrust Bank have agreed in subsequent civil settlements to provide an additional $9.3bn in relief to homeowners....
...Regional lender SunTrust Banks was off 0.5 per cent to $33.51 on news that it had agreed to a more than $1bn settlement with federal agencies over allegations of mishandling government-backed mortgages....
...PNC , the ninth-largest US bank by assets, expects losses from forced mortgage repurchases to increase as pressure builds for banks to take back loans made before the financial crisis that have since gone...
...Banking stocks on Wall Street enjoyed strong gains on Thursday as Freddie Mac reported that mortgage rates fell to record lows for the second straight week while recent housing data continued to show improvements...
...SunTrust set aside $215m for mortgage repurchases, an increase from $117m in the third quarter....
...BofA has been shrinking its assets as it seeks to bolster its capital ratios and overcome a hangover of mortgage-related losses and litigation....
...SunTrust was up 5.4 per cent to $19.66, and Regions Financial climbed 4.2 per cent to $4.52, while some investment banks, which do not originate mortgage loans, sat out the rally....
...It might also have helped large mortgage lenders outperform – SunTrust was up 11.6 per cent to $19.75 and Hudson City Bank , a New Jersey-based mortgage lender, rose 9.3 per cent to $6.83....
...Here’s an overview of the allegations, from the article: In exchange for the their business, companies such as Citigroup Inc, Wells Fargo & Co, SunTrust Banks Inc. and Countrywide allegedly required reinsurance...
...The S&P regional banks index was up 2.5 per cent to 54.25 led by SunTrust Bank, which added 5.9 per cent to $29.50 after posting strong results....
...Bankers said potential targets included banks whose recovery from the crisis has been slow because of their exposure to soured mortgages and commercial real estate loans....
...Mortgage providers have come under increasing government pressure to modify loans as the number of borrowers entering foreclosure has swelled to record levels....
...But the impact is recorded as a deduction from revenue in the mortgage business....
...Wall Street’s positive mood lasted less than two hours on Monday, as weakness in the banking sector fed through to push major stock indices lower for the second session in a row....
...Wells Fargo remained resolutely lower however as the prospect of further credit losses negated the impact of encouraging revenues, with analysts warning much of the income from mortgage refinancing would...
...shares of Fifth Third, and smaller amounts of State Street and SunTrust....
...SunTrust Banks shares fell 3.3 per cent to $14.89 after it swung to a $714.8m first-quarter loss, hurt by real-estate and mortgage investments and ”recession-related costs” as it boosted reserves for bad...
...SunTrust, based in Atlanta, cut its dividend and recorded a $379.2m loss compared to a slim profit a year ago. BB&T, based in North Carolina, and Comerica, based in Texas, reported profits....
...SunTrust on Tuesday completed the sale of a coveted stake in Coca-Cola that the Atlanta-based bank has owned for almost 90 years, allowing the bank to prop up its capital position after mounting mortgage...
...Shares in Fannie Mae and Freddie Mac plunged on Monday as investors worried that the two giant government-sponsored mortgage financiers would have to raise fresh capital....
...IndyMac is one of 8,494 depository institutions operating in the US and represents 0.2 per cent of banking industry assets, according to the FDIC which insures up to $100,000 per depositor as well as some...
...An analyst at Friedman, Billings, Ramsey pointed to a number of banks, including SunTrust Banks and First Horizon, as having significant exposure to problematic residential construction loans....
..., National City and SunTrust Banks, according to data from Fitch Ratings....
...to shore up balance sheets weakened by the mortgage crisis....
...Bankers say JPMorgan could be interested in taking over regional banks, such as Atlanta-based SunTrust....
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