Pursuits
Lone Star-Backed Lender Faces Probe by N.Y. Attorney General
- State official received surge of complaints about lender
- Caliber's practices described as `predatory' by labor union
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A lender backed by private equity firm Lone Star Funds is under scrutiny by New York Attorney General Eric Schneiderman amid union allegations it may be using predatory practices in its mortgage business.
The company, Caliber Home Loans Inc., has been the subject of a surge of complaints to Schneiderman’s office, said spokesman Matt Mittenthal. The attorney general is looking into whether the firm’s servicing practices violate U.S. Consumer Financial Protection Bureau rules, he said.