Warren Buffett’s mortgage companies cater to white clients: report


Trident Mortgage Co. helps more families buy homes in Philadelphia and neighboring Camden, New Jersey, than any other company, but it primarily serves one demographic: white people.

That is no coincidence. All of Trident’s offices are in white neighborhoods, where it makes the overwhelming majority of its loans to white homebuyers. And Trident employs a nearly all-white team of mortgage consultants.

It’s a division of Berkshire Hathaway, the giant holding company led by Warren Buffett, which has dramatically expanded its mortgage brokerage portfolio in recent years, reporting nearly 28,000 loans worth $7.3 billion last year.

The potential for more growth clearly caught the eye of the octogenarian investor.

“HomeServices is on track to do only about 3 percent of the country’s home-brokerage…

Read More

*** This news item is 3rd party content and is included strictly for non-commercial informational purposes.

320ro

Comments

comments