Harbinger Capital Partners founder Phil Falcone apparently needed some cash—$22.5 million to be exact. Falcone took out a 30-year adjustable rate mortgage—beginning at 2.375%—on his family’s Manhattan mansion in May at a time when investors expressed concern about their funds being tied up in illiquid investments and preferential treatment given to some clients, including an SEC-investigated $113 million loan from the hedge fund to Falcone himself.
