US EditionCFPB says unit of Warren Buffett's Berkshire Hathaway ignored red flags in manufactured home loans
- The U.S. Government has sued a unit of Warren Buffett's Berkshire Hathaway for pushing borrowers into unaffordable loans to sell manufactured homes.
- The U.S. Consumer Financial Protection Bureau filed the lawsuit against Berkshire's Clayton Homes manufactured housing division.
- The complaint claims that Vanderbilt Mortgage and Finance ignored 'clear and obvious red flags' about borrowers' affordability.
- CFPB Director Rohit Chopra stated that Vanderbilt knowingly traps people in risky loans to close deals on manufactured homes.
51 Articles
51 Articles
US Government Sues Warren Buffett's Berkshire-Owned Lending Company For Predatory Mortgages - Nemos News Network
Authored by Naveen Athrappully via The Epoch Times (emphasis ours), A mortgage lender owned by Warren Buffet’s holding company, Berkshire Hathaway, has been sued by the Consumer Financial Protection Bureau (CFPB), alleging that the business pushed people into taking unaffordable loans. A mobile home in Huntington Beach, Calif., on June 10, 2022. Julianne Foster/The Epoch […]
Maryville-based lender accused of giving borrowers mortgages they could not repay
MARYVILLE, Tenn. (WATE) — A Maryville-based mortgage lender that primarily provides mortgages for manufactured homes is being sued by the Consumer Financial Protection Bureau (CFPB) over allegations that the lender provided loans to individuals without determining if the borrowers could reasonably repay them. The civil lawsuit was filed in the U.S. District Court in the Eastern District of Tennessee on Monday. Man accused of setting Friend…
US Government Sues Warren Buffett’s Berkshire-Owned Lending Company for Predatory Mortgages
A mortgage lender owned by Warren Buffet’s holding company, Berkshire Hathaway, has been sued by the Consumer Financial Protection Bureau (CFPB), alleging that the business pushed people into taking unaffordable loans. The Jan. 6 lawsuit was filed against Tennessee-based Vanderbilt Mortgage and Finance in the U.S. District Court for the Eastern District of Tennessee. The company provides loans for manufactured homes, also known as mobile homes. …
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