I must have missed this while enjoying an early Cinco de Mayo libation, but in a filing with the SEC last week, Accredited disclosed that it had received a bump in its warehouse funding from Wachovia. The subprime lender now has an additional $250 million to work with, as its credit line went up from $500 million to $750 million. I’m not really sure what this entails — perhaps just a signal that Wachovia has more confidence in the subprime lender than it did a few months back.
Accredited Gets More Liquidity from Wachovia
Most Popular Articles
Cenlar FSB names Rene Gonzales as chief technology officer HW+
Rene Gonzales will expand his role at the mortgage servicer Cenlar FSB by offering technology leadership and implementation guidance.
Rocket launches its first credit card to attract buyers, homeowners HW+
Home price growth continued to slow to start 2023 HW+
Tech hub housing markets cool as industry turmoil dampens demand HW+
Agile fintech firm executes first fully automated AOT transaction HW+
Bank failures may be the catalyst for an economic recession HW+