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Subprime lender Accredited in deal to sell loans
Reuters   Friday, 16 March 2007

Suburban homes are seen in a file photo. Accredited Home Lenders Holding Co. said on Friday it has reached an agreement to sell substantially all of its loans held for sale that are now funded out of its warehouse and repurchase credit facilities, asset-backed commercial paper facility, and its equity. (File/Reuters)Reuters - Accredited Home Lenders Holding Co. , a big U.S. subprime lender hit by a cash squeeze, said on Friday it will sell $2.7 billion in loans, a move that buys it more time and sent its stock up 27 percent in early trading.


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