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June 18, 2014

SunTrust to Pay Almost $1 Billion in Damages for Writing Faulty FHA Loans

By Brandon Ivey

The terms of the settlement include $500 million in consumer relief and a cash payment of $468 million.

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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