SunTrust Banks (STI) has agreed to pay as much as $320 million to settle an investigation into its administration of Home Affordable Modification Program loans.

The $180 billion-asset Atlanta company had been investigated for making misrepresentations and failing to properly process applications for HAMP modifications of mortgages. SunTrust had previously disclosed the investigation in August.

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.