The rapid growth of Caliber Home Loans, a mortgage company owned by the private equity giant Lone Star Funds, has led to a surge in consumer complaints. Now it has led to regulatory scrutiny of Caliber’s business practices.
Eric T. Schneiderman, the New York attorney general, has opened an investigation into the mortgage company, a person in Mr. Schneiderman’s office confirmed.
The investigation was opened within the past week. For several months Mr. Schneiderman’s office has received complaints from New York residents about the company’s mortgage servicing practices and questions about whether they violate federal and state guidelines. Mr. Schneiderman’s office declined to discuss the focus of the investigation, which may or may not result in regulatory action against Caliber.