LEND gets More Green While NEWC gets the “Q”
Talk about night and day in the subprime mortgage lender industry. On one end New Century Financial Corp. (Pink Sheets: NEWC) filed for bankruptcy, and on the other Accredited Home Lenders Holding Co. (NASDAQ: LEND) obtained more than $1 billion in new financing. Accredited received $1.1 billion through the combination of a new $500 million warehouse facility from a large commercial bank and the renewal of one of its existing warehouse facilities with an investment banking firm for $600 million. The company is also in discussions with another investment banking firm regarding the renewal of a $650 million warehouse facility.…