Lone Star Funds’ Foreclosures Again in the Headlines
The New York Times is again detailing Lone Star Funds’ aggressive practices in the housing market.
In its investigation of the role of private equity in the US housing market, the Times reports that “Lone Star Funds’ mortgage operation has aggressively pushed thousands of homeowners toward foreclosure,” and that “if foreclosing on a homeowner is the most profitable option, Lone Star is likely to foreclose.”
The Times reports that New York Attorney General Eric Schneiderman has expanded his investigation of Lone Star’s Caliber Home Loans’ business practices “to include an examination of Lone Star’s securitization of mortgages, including delinquent loans.” The New York State Department of Financial Services is also reportedly reviewing some of Caliber’s practices.
Read the full article here.