NC homeowners to get $21 million in settlement

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News,Business

CHARLOTTE, N.C. (AP) — North Carolina homeowners with mortgages from SunTrust will receive more than $21 million in payments and loan modification relief under a settlement with state and federal officials over mortgage servicing mistakes.

Attorney General Roy Cooper's office said Tuesday that another $2 million will to go about 2,500 people who lost their homes to foreclosure.

Regulators have accused SunTrust of taking shortcuts in mortgage servicing, including mass production of foreclosure documents.

Cooper says the agreement means deserving homeowners will get direct relief form the settlement and future borrowers will be better protected.

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