Accredited Names New CEO

Published June 09, 2008, 1:00 p.m. EDT

1 Min Read

Jeff Walton has been named chief executive officer of Accredited Home Lenders Holding Co., a troubled San Diego-based subprime lender that recently confirmed an undisclosed number of layoffs. Mr. Walton replaces Jim Moran, who has served as interim CEO since February 2008. A veteran of 25 years in the mortgage industry, Mr. Walton was previously president, CEO, and senior managing director of Bear Stearns Residential Mortgage Corp., Accredited said. Before launching BSRMC, he served as president of the mortgage division for First National Bank of Arizona and First National Bank of Nevada. Accredited, once a top-ranked publicly traded subprime lender, was sold last fall to Lone Star, a private equity fund. Accredited can be found on the Web at http://www.accredhome.com, and Lone Star can be found at http://www.lonestarfunds.com.

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