SAN DIEGO, Feb. 19 /PRNewswire-FirstCall/ -- Accredited Home Lenders Holding Co. ("Accredited" or the "Company") and its subsidiary, Accredited Mortgage Loan REIT Trust (Pink Sheets: AHHAP) ("REIT"), today announced the retirement of James A. Konrath as Chairman and Chief Executive Officer effective immediately. Mr. Konrath has served as the Company's Chairman and Chief Executive Officer since co-founding the primary operating subsidiary, Accredited Home Lenders, Inc., in 1990.
Succeeding Mr. Konrath as chairman and chief executive officer of the Company on an interim basis is Jim Moran, Managing Director of Hudson Advisors. Hudson Advisors has managed and serviced investments acquired by Lone Star Funds since 1995.
Commenting on his retirement, Mr. Konrath said, "These decisions are never easy and the timing never seems to be right, but I have great confidence in Accredited's deep and experienced management team. The past seventeen years have been the most rewarding and fulfilling time imaginable. Everyone at Accredited should be very proud of what we have built and our many accomplishments and there could not have been a better group of people to have collaborated with during those years."
According to Joseph Lydon, President and Chief Operating Officer, "Jim is a great leader, and more importantly, a great person. He was a visionary for the company and the industry, a mentor to many of us throughout Accredited, and a trusted friend. Speaking for all of the employees at Accredited, I want to wish Jim and his wife JoAnne the very best in the next chapter of their lives."
About Accredited Home Lenders Holding Co.
Accredited Home Lenders Holding Co. is the parent company of Accredited Home Lenders, Inc., a mortgage company operating throughout the U.S. Accredited Home Lenders, Inc. is in the business of originating, financing, securitizing, servicing, and selling mortgage loans secured by residential real estate. Founded in 1990, the company is headquartered in San Diego. Additional information may be found at http://www.accredhome.com/.
About Accredited Mortgage Loan REIT Trust
Accredited Mortgage Loan REIT Trust, a subsidiary of Accredited Home Lenders, Inc., is a Maryland real estate investment trust formed in May 2004 for the purpose of acquiring, holding and managing real estate assets.
About Lone Star Funds
Lone Star Funds is a leading U.S. private equity firm. Since 1995, the principals of Lone Star Funds have organized private equity funds totaling more than $13.3 billion to invest globally in corporate secured and unsecured debt instruments, real estate related assets and select corporate opportunities. Additional information may be found at http://www.lonestarfunds.com/.
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