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Accredited Hits Stride.(Brief Article)
San Diego -- Accredited Home Lenders, a national nonprime specialist, said it set records for loan origination volume, cost of originations, net income and the size of its balance sheet in the third quarter.
Accredited earned $41.3 million, or $1.87 per diluted share, in the third quarter. That was up 15.1% from the third quarter of last year. Accredited said its net cost to originate mortgage loans fell to 1.57% of the loan amount, down from 1.92% a year earlier.
Chairman and CEO James Konrath said Accredited is continuing to meet its profitability targets. The company also said that its loans-on-balance-sheet portfolio grew to $9.1 billion, an increase of ...
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Source: HighBeam Research, Accredited Hits Stride.(Brief Article)