Lender with ties to Warren Buffett backs a loan for manufactured homes

Lender with ties to Warren Buffett backs a loan for manufactured homes

Buffett touted the 3 percent default rate to shareholders in order to rebut claims of predatory lending in a recent investigation by The Seattle Times and The Center for Public Integrity into Berkshire’s mobile-home subsidiary, Clayton Homes. But Buffett’s number only counted loans that defaulted in a one-year period.

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Across the street is another auto dealership owned by the Clayton family. Down the street is a branch of Jim Clayton’s bank, housed in a Clayton-built manufactured home. Guided into costly loans. Soon after Buffett bought Clayton Homes, he declared a new dawn for the moribund mobile-home industry, which provides housing for some 20 million Americans.

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Berkshire Hathaway Inc. shares traded near record highs at the beginning of Warren Buffett’s 50th year running the company. a relationship that accounted for 20 percent of worldwide loans and 8.

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The investment was announced four days after Berkshire said it would invest up to C$400 million for a 38.4 percent equity stake in Canadian lender Home Capital. and Clayton Homes, which makes.

When I was 14, Warren Buffett wrote me a letter. holding up Berkshire subsidiary Clayton Homes as a model of lending rectitude. Conveniently, he neglects to mention Wells Fargo’s toxic book of home.

After the bailout bill passed, Warren Buffett sat down and wrote Treasury Secretary Paulson a four-page letter proposing a larger solution to the financial crisis: a quasi-private fund backed by the U.

NEW YORK (Fortune) — Warren Buffett is no critic. in its financing business, even as manufactured home sales slipped 5%. Last year, Clayton’s home sale revenue dropped, but its interest income on.

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Lender with ties to Warren Buffett backs a loan for manufactured homes www.mit.edu – a aa aaa aaaa aaacn aaah aaai aaas aab aabb aac aacc aace aachen aacom aacs aacsb aad aadvantage aae aaf aafp aag aah aai aaj aal aalborg aalib aaliyah aall aalto aam.

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