September 29, 2016 / 6:11 PM / 10 months ago

BRIEF-BB&T announces settlement resolving FHA-Insured mortgage issues

1 Min Read

Sept 29 (Reuters) - BB&T Corp :

* BB&T announces settlement resolving FHA-insured mortgage issues

* Settlement will have no negative effect on BB&T's financial condition or results of operations

* Inquiry was settled for $83 million without any admission of liability to avoid cost and uncertainty of potential litigation

* In a related matter, BB&T is pursuing a potential recovery of approximately $70 million

* Reached agreement with U.S. DOJ settling legacy mortgage matters involving origination of mortgage loans insured by U.S. Department of Housing Source text for Eikon: Further company coverage:

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