Berkshire Hathaway's standing policy is that Buffett can repurchase shares anytime he believes the stock is trading below its intrinsic value. The only caveat is that stock buybacks aren't allowed if they would cause the conglomerate's cash position (including cash, cash equivalents, and U.S. Treasuries) to fall below $30 billion.

The federal Consumer Financial Protection Bureau said in a lawsuit that a unit of Warren Buffett's Berkshire Hathaway ignored red flags that borrowers couldn't afford the mortgages they were given to buy manufactured homes from another Berkshire company.

The U.S. Consumer Financial Protection Bureau sued a lender owned by Warren Buffett's Berkshire Hathaway on Monday, accusing it of pushing borrowers into unaffordable mortgages to buy homes from Clayton Homes,

Vanderbilt Mortgage & Finance Inc. is accused of knowingly issuing “unaffordable” home mortgages.

The CFPB says that Vanderbilt Mortgage & Finance, owned by Berkshire Hathaway, ignored evidence that borrowers couldn't afford loans to buy manufactured homes.

A Berkshire Hathaway unit that is a major lender to people buying mobile homes intentionally failed to qualify borrowers, the Consumer Financial Protection Bureau alleged in a complaint. As a result,