WASHINGTON — Several federal agencies and 49 state attorneys general struck a $968 million settlement Tuesday with SunTrust Mortgage over charges that it violated laws governing foreclosures as well as mortgage origination and servicing.

The agreement with the Justice Department, Consumer Financial Protection Bureau and the Department of Housing and Urban Development, along with the AGs, requires SunTrust to provide $500 million in relief to struggling borrowers, pay $418 million to DOJ, give $40 million in restitution to roughly 48,000 improperly foreclosed borrowers and pay an additional $10 million fine to the government.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.