<ul><li>The Consumer Financial Protection Bureau (CFPB) has sued Vanderbilt Mortgage & Finance, alleging that the company traps people in risky loans.</li><li>Vanderbilt, a unit of manufactured home builder Clayton Homes, originates loans for manufactured homes across the US.</li><li>The CFPB's complaint accuses Vanderbilt of ignoring evidence that borrowers could not afford the loans, using artificially low estimates of living expenses, and making loans to borrowers who couldn't cover the mortgage and basic living expenses.</li><li>The lawsuit seeks to stop Vanderbilt's alleged unlawful conduct, provide redress for harmed consumers, and impose a civil money penalty.</li></ul>

CFPB Sues Vanderbilt Mortgage, Alleging It ‘Traps People in Risky Loans’

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