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mobile home owners face financial struggles amid risky lending practices

The Consumer Financial Protection Bureau (CFPB) dropped a lawsuit against Vanderbilt Mortgage, owned by Warren Buffett, which accused the lender of approving risky loans to financially vulnerable borrowers. Critics argue that without CFPB oversight, mobile-home owners, often the lowest-income Americans, face increased risks and fewer protections in a market dominated by a few lenders. The unique classification of mobile homes complicates access to traditional mortgage loans, leading to higher costs and potential repossession for borrowers.
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United States Dollar Vanderbilt Mortgage AND Finance Inc. Berkshire Hathaway Inc. USA Jonathan McKernan Esther Sullivan Warren Buffett Russell Vought Rohit Chopra Rachel Siegel Show more
Finance & Economy, News Article
10:15 16.03.2025
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