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07

Caliber Home Loans Embraces Borrowers With Spotty Credit

By Tony Seruga

Housing construction in Wesley Chapel, north of Tampa, Fla. Some lenders are beginning to issue mortgages to borrowers with troubled credit records and to issue bonds backed by those loans.CreditMelissa Lyttle for The New York Times

Mortgages to borrowers with spotty credit histories have yet to come roaring back from the financial crisis, but they are on the rise at the private equity giant Lone Star Funds.

Its wholly owned mortgage business, Caliber Home Loans, is one of the few financial firms to report a significant percentage increase this year in the dollar value of subprime mortgages it is managing and servicing for homeowners.

Most of the subprime mortgages at Caliber are “legacy” loans, those issued before the housing bust, which Lone Star acquired from banks and federal agencies…

Caliber Home Loans Embraces Borrowers With Spotty Credit

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