Subprime lender Accredited Home Loans of California was downgraded Monday by Stifel Nicolaus to "hold" from "buy," sending its share price down by 4% at one point.In August, Roth Capital also downgraded Accredited, the nation's 13th-largest subprime lender. Accredited recently bought Aames Financial of Los Angeles, another subprime lender. Accredited has disclosed that it bought back $38.6 million in mortgages in the second quarter, a 145% increase from the level in the same period a year earlier. Stifel Nicolaus is a regional brokerage firm based in St. Louis.
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