Accredited Home Lenders Holding Co. named Jeff Walton chief executive, the mortgage company said June 6. He replaces Jim Moran, who had been interim chief executive since February.
Accredited, a San Diego-based publicly traded lender, was a big success story until the subprime lending crisis that began in 2006 pushed it to the edge of bankruptcy.
In 2007, Accredited shut down 60 retail offices and laid off 3,000 employees. Lone Star Funds, a Dallas-based equity fund, stepped in to buy Accredited in October for $311 million.
, Brad Graves
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