Accredited Gets More Liquidity from Wachovia

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.

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3d rendering of a row of luxury townhouses along a street

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