Items Tagged with 'Accredited'


  • Filings Heard 'Round the Industry

    With Accredited Home Lenders and Thornburg Mortgage both having filed for bankruptcy Friday, the scope of the industry's problems has become more apparent than ever. Accredited once ranked as one of the largest subprime lenders and Thornburg specialized in high-balance, ultra-prime jumbo loans. The filings are further indication that the recession inhabits every corner of the lending industry. But neither comes as a major shock.
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  • Accredited Finds Buyer for a Mere $400M

    Just saw a VERY interesting press release cross the wire -- Accredited's being bought out on the cheap. Some tidbits from the press release: Under the terms of the agreement, Lone Star will acquire each outstanding share of Accredited common stock at a price of $15.10 per share, for a total consideration of approximately $400 million on a fully diluted basis. ...
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  • Accredited's COO Cashes Out

    SEC records show that Accredited COO Joseph Lydon liquidated nearly $400K of his company's stock on March 13 as part of a forced liquidation under a loan and pledge agreement with Merrill Lynch -- the same day the company first publicly disclosed a liquidity crisis.
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