:Clayton Homes, the nation’s biggest homebuilder, which is controlled by its second-richest man — Warren Buffett.Buffett’s mobile home empire promises low-income Americans the dream of homeownership. But Clayton relies on predatory sales practices, exorbitant fees, and interest rates that can exceed 15 percent, trapping many buyers in loans they can’t afford and in homes that are almost impossible to sell or refinance, an investigation by The Center for Public Integrity and The Seattle Times has found.

 

Clayton Homes’ finance companies have operated in the highly-regulated mortgage lending industry for more than 40 years. Just 90 days ago, The New York Times wrote, “what distinguished Clayton Homes was that its financing division, unlike that of competitors did not engage in predatory lending or exploit its customers’ naiveté`.” Berkshire Hathaway