It seems billionaire and investor Warren Buffett has had a real estate partnership of sorts with Quicken Loans founder Dan Gilbert for a year according to Reuters — and no one seems to have noticed.
The dynamic duo made news recently when Buffett agreed to help back Gilbert financially should he attempt to purchase Yahoo! Inc YHOO. There now seem to be no signs of life to that arrangement, but it brought the public’s attention to the two tycoons and their business connections.
Reuters reported Quicken has been selling mortgage loans to Vanderbilt Mortgage and Finance Inc, a company owned by Berkshire Hathaway Inc. (NYSE: BRK-A) for nearly a year in a test program that has so far resulted in $20 million in closed loans.
Perhaps the most exciting aspect of this news isn’t the news itself, but the prospect of even more dealings in the future, a possibility Buffett acknowledged. “There could well be more business relationships in the future, but beyond that it's a friendship," Buffett told Reuters.
The business besties apparently first hooked up when Buffett came to Detroit in 2013 for the initiation of the Goldman Sachs Group, Inc GS 10,000 Small Businesses program, which Buffett co-chairs. Gilbert became Warren’s tour guide while he was in the city.
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