Review Mortgage Lenders

SunTrust Mortgage


This has been my experience dealing with sun trust.

SunTrust passes national mortgage settlement review

The mortgage unit of SunTrust Banks in Atlanta is in compliance with requirements for the national mortgage settlement for the second half of last year.

The $200 billion-asset company did not fail any of the compliance metrics that were tested during the third and fourth quarters of 2017, according to a report on Tuesday from Joseph Smith, the monitor of the settlement. The company had also passed its review for the first half of last year.

“SunTrust continues to make progress under the NMS,” Smith said in a press release. “I will continue to monitor SunTrust’s consumer compliance obligations and will report my findings to the court and the public on the final testing period in the future.”

SunTrust had previously failed metric four in the fourth quarter of 2015 and all four quarters of 2016. That metric tests the accuracy of information provided in proof of claims filed in bankruptcy court. The company had initially failed after making changes to an official form.

Protecting Borrowers Through Tech

Mortgage servicing technology has taken some giant leaps in the last year. Tech and mortgage experts have been joining forces to push past the current boundaries of doing business with the aim of strengthening in-house efficiencies, providing faster and more seamless connections for customers to make payments on their mortgage, or staying compliant with the Bureau of Consumer Financial Protection rules.

Some of these technology transitions have been made by other industries many years ago, but for one reason or another, have not transitioned into the mortgage sphere. “Mortgage servicing has been based on outdated technology like mainframes, COBOL, etc., it has been slow to enter the millennial footprint,” Bryce Elliott , Chief Technology Officer for SunTrust Mortgage shared. The company is servicing approximately 900,000 loans.

“The primary origination and servicing platforms have been around for a number of years and continue to provide a

Is Suntrust Bank a decent bank to have your mortgage with?

I'm looking at a refinance, but I really like my current bank. I don't want to end up with a lender that is a pain. I know that the bank can change, but I just want to find out if anyone else has a mortgage with Suntrust.

Everyone that I see who comes in seems pretty pleased with their SunTrust Mortgage. There is also a program that can be set up where your payments can draft automatically.