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New York -- Subprime lender Accredited Home Loans of San Diego has seen its share price rise 20 points since late fall, fueling speculation the company might be for sale.
A spokesman for Accredited said the lender is not on the market, noting that any talk of a sale is "pure speculation." As Mortgage Servicing News went to press last month, its stock was at $53, just below its 52-week high, and significantly above its low of $31.
Most publicly traded mortgage firms these days are trading closer to their 52-week lows than their highs, a victim of tighter profit margins and lower production volumes.
Among subprime lenders, Accredited ranks 15th. A non-REIT, it is considered a conservatively managed firm that has ...
Source: HighBeam Research, Two HE Lenders Hear M&A Rumors.(Brief Article)