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 Clayton, ignored “clear and obvious red flags” that borrowers could not afford their loans.
Many borrowers incurred late fees and penalties when they fell behind on payments, and had their homes repossessed or filed
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