Vanderbilt to Buy $4B Chase MH Portfolio

December 08, 2004, 3:00 p.m. EST 1 Min Read

Vanderbilt Mortgage and Finance Inc., Knoxville, Tenn., and JPMorgan Chase & Co., Chicago, have announced an agreement whereby Vanderbilt will purchase Chase Home Finance's $4 billion manufactured housing loan portfolio.The terms of the agreement were not disclosed. The companies said the portfolio will be serviced by Vanderbilt and 21st Mortgage Corp. in Knoxville. Vanderbilt Mortgage is a subsidiary of Clayton Homes Inc., a manufactured housing company that is wholly owned by Berkshire Hathaway.

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