Thursday, August 23, 2007

Accredited Home to cut 1,600 jobs and halts lending (Reuters via Yahoo! News)

Accredited Home Lenders Holding Co said on Wednesday it had stopped taking U.S. mortgage applications and would eliminate 1,600 jobs, or 62 percent of its work force, to cope with turmoil in subprime lending.

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[Source: Yahoo! News Search Results for home equity loan]

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