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SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. [2] The bank's most direct corporate parent was established in 1891 in Atlanta , where it was headquartered.
Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. [1]
Bank-owned properties may also be referred to as real estate owned, or REO. You can find bank-owned properties through sources like banks' online listings or RealtyTrac.
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. [7] The company was formed in December 2019 as the result of the merger of BB&T (Branch Banking and Trust Company) and SunTrust Banks.
Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...
The consent order addressed SunTrust's alleged misconduct regarding its mortgage servicing and foreclosure practices. SunTrust was also required to create a 40 million dollar fund for the approximately 45,000 SunTrust borrowers who were foreclosed upon between January 1, 2008, and December 31, 2013.
Pressure compounded on banks due to follow-on real estate effects and an 1980s farm crisisagricultural recession in Great Plains states. [59] The elimination of favorable tax treatment for real estate construction in the Tax Reform Act of 1986 also contributed to a slowdown in constructing lending and lowered real estate values.
SunTrust Banks is the holding company and publicly traded side of SunTrust Bank, one of the country's biggest regional banks. SunTrust primarily does three kinds of banking: consumer banking and ...