The U.S. Consumer Financial Protection Bureau said Monday that it is suing a Tennessee-based mortgage lender owned by Berkshire Hathaway, accusing the company of predatory practices aimed at steering borrowers into manufactured homes they could not afford.
Vanderbilt Mortgage & Finance Inc. is accused of knowingly issuing “unaffordable” home mortgages.
A Reuters analysis shows that Berkshire coal plants emit more nitrogen oxide gases than any other coal-fired fleet in the country. Despite big investments in renewable energy, the company has resisted efforts by regulators to make coal plants cleaner.
A federal consumer bureau claims Vanderbilt Mortgage, owned by Berkshire Hathaway, made loans to buyers of manufactured homes it knew could not repay them.
The consumer watchdog filed a lawsuit in Tennessee against Vanderbilt for purported violations of the Truth in Lending Act and Regulation Z.
Pilot Co. last month opened its largest location to date in Stanton, Tennessee, a 20,000-square-foot travel center.
Both Vanderbilt and Clayton are based in Tennessee. This recent legal action revisits ... prioritized closing deals over ensuring borrowers’ financial stability. Berkshire Hathaway, headquartered in Omaha, Nebraska, owns a wide range of companies ...
Vanderbilt’s internal model for underwriting loans provided borrowers unrealistic expectations of monthly living expenses, the Consumer Financial Protect Bureau alleged in the complaint.
Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge after ... Both Vanderbilt and Clayton are based in Tennessee. “For 50 years, Vanderbilt Mortgage has increased homeownership in the U.S. The CFPB’s lawsuit is ...
The Consumer Financial Protection Bureau accused Tennessee-based Vanderbilt Mortgage & Finance of ignoring red flags in mortgage applications.
The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.
Vanderbilt relied on unrealistic expectations of what borrowers would need financially after making their mortgage payment, according to the complaint.