OMAHA, Neb. (AP) — The federal Consumer Financial Protection Bureau says in a lawsuit that a unit of Warren Buffett’s Berkshire Hathaway “ignored clear and obvious red flags” that borrowers couldn’t afford the mortgages they were given to buy manufactured homes from another Berkshire company. The CFPB said Monday that Vanderbilt Mortgage & Finance’s decisions put many families in a position where they struggled to pay their bills and purchase ba…

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Part of Warren Buffett’s empire just got sued by the US government

A lawsuit alleges that a unit of Warren Buffett's Berkshire Hathaway ignored red flags that borrowers couldn't afford the mortgages they were given to buy manufactured homes.

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Lawsuit alleges unit of Warren Buffett's Berkshire Hathaway ignored red flags in home loans

The federal Consumer Financial Protection Bureau said in a lawsuit that a unit of Warren Buffett's Berkshire Hathaway ignored red flags that borrowers couldn't afford the mortgages they were given to buy manufactured homes from another Berkshire company

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CFPB says unit of Warren Buffett's Berkshire Hathaway ignored red flags in manufactured home loans

The US government has sued a unit of Warren Buffett’s Berkshire Hathaway, accusing it of pushing borrowers into unaffordable loans—so customers would buy homes from the company’s manufactured housing business.

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The federal Consumer Financial Protection Bureau says in a lawsuit that a unit of Warren Buffett's Berkshire Hathaway "ignored clear and obvious red flags" that borrowers couldn't afford the mortgages they were given to buy manufactured homes from another Berkshire company.

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Story by Reuters (Reuters) — The US government has sued a unit of Warren Buffett’s  Berkshire Hathaway, accusing it of pushing borrowers into unaffordable loans—so customers would buy homes from the company’s manufactured housing business. The U.S. Consumer Financial Protection Bureau filed the lawsuit Monday against Berkshire’s Clayton Homes manufactured housing division. The complaint alleges that Vanderbilt Mortgage and Finance, a unit of Cla…

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The Consumer Financial Protection Bureau filed a lawsuit against Vanderbilt Mortgage & Finance on Monday, alleging the Warren Buffett's Berkshire Hathaway Inc. subsidiary systematically approved unaffordable manufactured home loans that set borrowers up for failure.

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Warren Buffett's Berkshire Hathaway Subsidiary Sued Over Unaffordable Loans, 2008-Style Predatory Loan Approval Tactics

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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US Government Sues Warren Buffett’s Berkshire-Owned Lending Company for Predatory Mortgages

A lender owned by Warren Buffett’s Berkshire Hathaway Inc. knowingly issued “unaffordable” home mortgages by ignoring the insufficient income or assets of some borrowers, a top financial regulator alleged in a lawsuit Monday.

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Berkshire-Owned Lender Sued by CFPB Over ‘Unaffordable’ Loans

The CFPB says that Vanderbilt Mortgage & Finance, owned by Berkshire Hathaway, ignored evidence that borrowers couldn't afford loans to buy manufactured homes.

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CFPB sues Berkshire Hathaway-owned mortgage lender for alleged predatory practices

CFPB says unit of Warren Buffett's Berkshire Hathaway ignored red flags in manufactured home loans

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