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The FBI is reportedly looking into practices of largest lender of PACE home-improvement loans

from Los Angeles Times

The Federal Bureau of Investigation is reportedly inquiring about the operations of San Diego-based Renovate America, which is the largest lender of PACE loans, a type of financing that funds energy-efficient home improvements. The company and other PACE lenders have come under increased scrutiny after complaints that too many borrowers are taking out unaffordable loans for solar panels and other energy-efficiency projects after contractors misrepresented how the financing is to be paid back. more

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