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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (1756)	3/13/2007 8:27:48 AM
From: RockyBalboa	Respond to of 6370

Bill, LEND just imploded like NEW,NFI. Sector is considerably under pressure. NDE also traded lower at 28. CFC also off 3.4% on Job cuts. >>> Accredited Home Eyes Strategic Options Tuesday March 13, 6:54 am ET Accredited Home Looking at Job Cuts, Raising Added Capital; Annual Report May Be Delayed SAN DIEGO (AP) -- Subprime mortgage lender Accredited Home Lenders Holding Co. said Tuesday it is exploring strategic alternatives, including raising more capital in order to boost liquidity and cutting additional jobs. The lender, which has seen its stock price suffer in recent days along with that of fellow subprime lender New Century Financial and others in the mortgage industry, also said it doesn't expect to be able to file its annual report on time. Accredited said it may need to raise capital to provide flexibility to retain or sell originated loans. Accredited also is seeking waivers and extensions from its creditors, including waivers related to required levels of net income. The company has been operating under various waivers under its credit facilities since Dec. 31. The company has paid about $190 million in margin calls on its facilities since Jan. 1. Shorting more Lehman. Pain is considerably.