Clayton Homes — Minority Homebuyers Class Action Investigation
McCune Wright is investigating a class action lawsuit against Clayton Homes. Clayton Homes is the largest manufacturer of manufactured housing and modular homes in the United States.
It is alleged that Clayton Homes charges minority borrowers higher annual interest rates than white borrowers and that the company systematically pursues minority homebuyers and baits them into costly subprime loans. A recent report concluded that Clayton exploits minority homebuyers with predatory sales practices, exorbitant fees and interest rates that can exceed 15 percent. Clayton’s lending division includes Vanderbilt and 21st Mortgage, who lend to a significant portion of Clayton’s minority homebuyers. Many of the loans fail, allowing Clayton to repossess and resell the homes.
If you are a minority homebuyer who purchased a home from Clayton Homes and opened a mortgage with Vanderbilt or 21st Mortgage, please contact the attorneys at McCune Wright Arevalo, LLP.