SunTrust settles some mortgage claims with regulators

Reuters

Oct 10 (Reuters) - SunTrust Banks Inc said itsettled some claims related to government agency-backed mortgageloans and would take a related charge of $323 million in thethird quarter.

The bank said on Thursday it reached agreements with theU.S. Department of Housing and Urban Development and theDepartment of Justice to settle mortgage origination claims andits portion of the national mortgage servicing settlement.

SunTrust's commitment under the agreements includes apayment of $500 million to consumers and a cash payment of $468million, the bank said in a statement.

Shares of SunTrust, which is scheduled to reportthird-quarter results on Oct. 18 , closed at $33.35 on Thursdayon the New York Stock Exchange.

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