Accredited Home Lenders Struggles to Stay Solvent

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From their recent SEC 10-K filing:

We face significant challenges due to adverse conditions in the non-prime mortgage industry, and we cannot assure you that we will continue to operate as a going concern.

That’s about as blunt as you can get. Not surprisingly the stock was off about 50%. The subprime market continues to destroy those who were heavily involved. More from Reuters, Bloomberg.


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