April 9 (Reuters) - First Tennessee Bank, the regional bank for First Horizon

National Corp, said it would pay $212.5 million to settle claims of mortgage
lending violations related to the business the company sold in 2008.

First Horizon said on Thursday it had reserved $50 million for settling the claims
and expected to record the remaining amount as pretax expenses in the first
quarter.

First Tennessee has reached an agreement with the U.S. Department of Housing
and Urban Development and the U.S. Department of Justice to settle claims tied
to mortgage loans issued from Jan. 1, 2006 through Dec. 31, 2008.

Federal Housing Administration-insured originations during the period totaled

47,817 loans with an aggregate original principal balance of $8.2 billion, the
company said in its annual regulatory filing.

The Justice Department did not immediately respond to a request for comment.

Wells Fargo & Co, the country's largest mortgage lender, said in November it was
in talks to resolve a 2012 lawsuit accusing it of fraud, but a lawyer for the bank
later said the lender and the Justice Department are "no longer as optimistic"
about a settlement.

In February, MetLife Home Loans LLC agreed to pay $123.5 million to resolve
accusations of mortgage lending violations.

(Reporting by Amrutha Gayathri in Bengaluru; Editing by Don Sebastian)

https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-$110-Million-Settlement-with-
First-Horizon-National-Corporation.aspx

News Release
FHFA ANNOUNCES $110 MILLION SETTLEMENT WITH
FIRST HORIZON NATIONAL CORPORATION
FOR IMMEDIATE RELEASE
4/29/2014
Washington, D.C. – The Federal Housing Finance Agency (FHFA), as conservator
of Fannie Mae and Freddie Mac, today announced a settlement for $110 million
with First Horizon National Corporation, related companies and specifically named
individuals. The settlement resolves claims in the lawsuit FHFA v. First Horizon
National Corporation, et al. (S.D.N.Y.), alleging violations of federal and District
of Columbia securities laws in connection with private-label mortgage-backed
securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Pursuant
to the agreement, First Horizon will pay $61.6 million to Fannie Mae and $48.4
million to Freddie Mac.
This is the 14th settlement related to the 18 PLS lawsuits FHFA filed in 2011. FHFA remains committed to
satisfactory resolution of the remaining actions.

https://www.bloomberg.com/news/articles/2017-03-02/world-s-biggest-banks-
fined-321-billion-since-financial-crisis
World’s Biggest Banks Fined $321 Billion Since Financial Crisis
By
Gavin Finch
March 1, 2017, 10:01 PM MST
 European, Asian regulators to step up pace of fines, BCG says

 Regulation to keep increasing despite Trump, consultancy says

Banks globally have paid $321 billion in fines since 2008 for an abundance of
regulatory failings from money laundering to market manipulation and terrorist
financing, according to data from Boston Consulting Group.

https://bringmethenews.com/news/u-s-bank-has-been-fined-more-than-600-million-
by-federal-authorities
https://www.bondnbotes.com/2017/05/05/us-bank-fined-15-million-bankruptcy-
violations/

U. S. Bank National Association Fined $15

Million For Bankruptcy Violations
Posted on May 05, 2017 By Ed Woods
On April 25th, U. S. Bank National Association (“Bank”) was fined the sum of $15 million by the
Office of Comptroller of the Currency (OCC) for violations of the federal bankruptcy laws. This
fine must be paid into the United States Treasury. The Bank agreed to pay the fine but did not
admit to any wrongdoing. The OCC determined that, between 2009 and 2014, the Bank did not
properly follow federal bankruptcy laws involving:

1. improperly filed Proofs of Claim;

2. misapplication of payments resulting in overpayments by customers who were paying
through a bankruptcy case;
3. improperly filed notices regarding payment changes;
4. untimely and/or inaccurate Post-Petition Mortgage Fees, Expenses, and Charges;
5. inaccurate Notices of Final Cure;
6. exposure of confidential customer information in court filed documents; and
7. inconsistent application of the Bank’s fee waiver practices.

You may be asking, “What’s the big deal with what the Bank was doing here?” Well, in many
instances, it might be a very big deal for the Bank’s customers who are trying to resolve their
financial situations through a bankruptcy case filing. When a person files for bankruptcy and that
person owes mortgage debt, it is of the utmost importance that the amount of the mortgage debt be
properly ascertained. For sure, the customer/debtor needs for the amount to be correctly
ascertained so that he or she will pay what is lawfully owed and no more. The bankruptcy court
must have proper documentation before it so that any dispute between the customer/debtor and the
mortgage lender can be truthfully and accurately resolved. And the mortgage lender has a right to
be paid what it is truly owed. This information is gathered in a bankruptcy case by the lender filing
what is known as a Proof of Claim. The bankruptcy law and rules spell out what has to be included
in the Proof of Claim and time limits for when the Proof of Claim must be filed.

Without a valid Proof of Claim, it can be very difficult to deal with mortgage claims in a
bankruptcy case. The purpose of the timely filing of an accurate and complete Proof of Claim is to
avoid the problems listed in (2) above. The fair and honest debtor who has turned to the bankruptcy
laws for relief is entitled to have his or her mortgage debt properly resolved in the bankruptcy case
so that, when the case is over, that debtor can be granted the relief that he or she deserves.