Accredited of San Diego Profits Up 161%

October 2003
American Banker;10/27/2003, Vol. 168 Issue 206, p21
Trade Publication
Accredited Home Lenders Holding Co. earned $29.4 million in the third quarter, or $1.40 per share, 161% more than it did in the same period last year. The San Diego, California subprime lender said Thursday that its revenues jumped 89%, to $116.2 million. Originations increased 86%, to $2.2 billion, and its servicing portfolio nearly doubled, to $1.6 billion. It sold $1.6 billion of whole loans, 85% more than it did in the third quarter of last year, and its net interest income surged 164%, to $31.3 million.


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