Accredited Home Lenders Company Description
Accredited Home Lenders is a mortgage banker that originated, acquired, serviced, and sold mostly subprime single-family mortgages for homebuyers throughout the US who did not otherwise qualify. It operated through a network of independent mortgage brokers. Private equity firm Lone Star Funds bought Accredited Home Lenders for some $400 million in 2007 and invested an additional $100 million of working capital in the company shortly after the deal was finalized, but it was not enough to keep it afloat. Accredited Home Lenders Holding Company and its subsidiaries filed for Chapter 11 bankruptcy in May 2009.
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The Company Description provides a historical perspective of Accredited Home Lenders's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Accredited Home Lenders's evolution in the marketplace.
