Accredited home lenders san diego
Accredited Home Lenders is a mortgage company that functions all around United States with its headquarters at San Diego.It is an auxiliary of the Accredited Home Lenders Holding Co and owned by Lone Star Funds who are one among the top equity firms in the private sector in the country. Accredited Home Lenders are involved in providing mortgage loans under conditions that normally don't qualify for approval from Fannie Mae and Freddie Mac. Loans. The loans approved by Accredited Home Lenders are also known as Non-prime mortgage loans.
Evolution of Accredited Home Lenders
The Accredited Home Lenders was launched in September 1990 in San Diego by the former CEO of the Security Pacific Financial Services, Jim Konrath along with a venture capitalist Ray McKewon. Though the company was started in a humble way above an automobile repair facility in San Diego , the founders of the company had a clear vision about the way to develop Accredited into one of the leading non prime mortgage Lenders in the country.
In the initial stages, Accredited issued loans using the funds of its owners. After setting up its first warehouse in 1994, followed the capital investment in the company by Crosspoint Venture Partners and Enterprise Partners Venture Capital. Thus Accredited got access to more funds and expanded its business by about 100% in a short interval of time.
Important phases in the growth of Accredited Home Lenders 1995 Investment of the order of $340m was done in warehouse financing by Cargill Financial Services Corporation in Accredited Home Lenders San Diego.
1998 Started expanding the company by opening processing centers in Cincinnati, Orange County, Atlanta and Providence.
1999 A three year agreement was signed with GMAC/RFC , and new warehouse Lenders were added.
2003 Accredited Home Lenders Holding company San Diego was made a public company.
2004 funds of the order of $102.5 m were raised from preferred stock in its REIT subsidiary.
2006 A non prime mortgage loan provider of good rapport, Aames Investment Corporation (NYSE: AIC) was acquired.
2007 Merged with LSF5 Accredited Investments, LLC, which is a subsidiary of Lonestar Fund.
Recognitions and awards received by Accredited
2002 Accredited Home Lenders was recognized as one of the fast emerging private companies by Inc.
2002 Company listed in the 11th position by the San Diego Business Journal
2003 Best performing IPO based on the percentage.
2004 March 30 2004 was declared by "Accredited Home Lenders Day" following the donation of $275,000 made by the company to the Fire-Rescue Department.
2004 Accredited was awarded the San Diego Business Starcom Award
2005 company was awarded the award for workplace excellence' by Peter Barron Stark & Associates. Accredited received the award also in 2000, 2001, 2003 and 2005.
2004 Company received the San Diego Business Journal's Starcom Award.
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