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Accredited Home Lenders in trouble??

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So I posted a blog yesterday about American Home Mortgage and the dire situation that they are in.  Rumor has it that Accredited is in financial trouble as well.  I know for a fact that my account rep resigned the other day.  Does she know something we don't?  I received the following email last night:

"


It has come to our attention that there have been numerous rumors in both formal and informal communications throughout the industry today regarding our financial position and intention to fund loans.
 
Please rest assured that we are currently conducting our business as usual and expect no disruptions, despite the nature of these communications to the contrary.  We will be issuing more information in a clarification statement tomorrow.

Thank you for your business and continuing confidence in us.

This e-mail was sent to: tonyh@olympicmc.com

This e-mail was sent by: Accredited Home Lenders, Inc.
15090 Avenue of Science San Diego, CA 92128 USA


We respect your right to privacy - view our policy

"

Now that is word for word what they are sending out.  Let's see what happens in the next month or so.  I know one of the account reps that had worked for New Century went to Mortgage Simple after New Century folded up.  His new company was "GREAT!" and he was talking about strong they were financially and they were not going to fold like the rest.  I called him about a scenario last week and he informed that once again, he is unemployed due to the company closing its doors.  Yikes!  What a rough time to be an account rep in the mortgage business!  On the brighter side, most of my deals flow through Wells, Countrywide, and Amtrust Ohio so me and my clients are safe....for now.

Any thoughts on Accredited anyone??

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