cheka.
23rd January 2016, 04:09 AM
long article about non-whites being charged higher interest rates than whites
authors intentionally ignore credit ratings -- instead only talks about race and income....again using deception to convince the non-whites they are victims and should be outraged
the fraud of omaha bit by the snake he feeds
http://www.seattletimes.com/seattle-news/times-watchdog/minorities-exploited-by-warren-buffetts-mobile-home-empire-clayton-homes/?utm_source=news.google.com&utm_medium=Referral&utm_campaign=RSS_editors_picks_Business&google_editors_picks=true
By Mike Baker
Daniel Wagner
The Seattle Times / BuzzFeed News
Over the 12 years since Buffett’s Berkshire Hathaway bought Clayton Homes Inc., the company has grown to dominate virtually every aspect of America’s mobile-home industry. It builds nearly half the new manufactured homes sold in this country every year, making it the most prolific U.S. homebuilder of any type. It sells them through a network of more than 1,600 dealerships. And it finances more mobile-home loans than any other lender by a factor of more than seven.
In minority communities, Clayton’s grip on the lending market verges on monopolistic: Last year, according to federal data, Clayton made 72 percent of the loans to black people who financed mobile homes.
The company’s in-house lender, Vanderbilt Mortgage, charges minority borrowers substantially higher rates, on average, than their white counterparts. In fact, federal data shows that Vanderbilt typically charges black people who make over $75,000 a year slightly more than white people who make only $35,000.
authors intentionally ignore credit ratings -- instead only talks about race and income....again using deception to convince the non-whites they are victims and should be outraged
the fraud of omaha bit by the snake he feeds
http://www.seattletimes.com/seattle-news/times-watchdog/minorities-exploited-by-warren-buffetts-mobile-home-empire-clayton-homes/?utm_source=news.google.com&utm_medium=Referral&utm_campaign=RSS_editors_picks_Business&google_editors_picks=true
By Mike Baker
Daniel Wagner
The Seattle Times / BuzzFeed News
Over the 12 years since Buffett’s Berkshire Hathaway bought Clayton Homes Inc., the company has grown to dominate virtually every aspect of America’s mobile-home industry. It builds nearly half the new manufactured homes sold in this country every year, making it the most prolific U.S. homebuilder of any type. It sells them through a network of more than 1,600 dealerships. And it finances more mobile-home loans than any other lender by a factor of more than seven.
In minority communities, Clayton’s grip on the lending market verges on monopolistic: Last year, according to federal data, Clayton made 72 percent of the loans to black people who financed mobile homes.
The company’s in-house lender, Vanderbilt Mortgage, charges minority borrowers substantially higher rates, on average, than their white counterparts. In fact, federal data shows that Vanderbilt typically charges black people who make over $75,000 a year slightly more than white people who make only $35,000.