Accredited to Absorb Aames Wholesale Platform

Accredited Home Lenders Holding Co., a San Diego-based mortgage company specializing in nonprime residential mortgage loans, has announced an agreement to absorb the wholesale operations of Aames Investment Corp., Los Angeles, in advance of the companies' planned merger.Accredited said the move, expected to be completed by mid-July, is designed to reduce employee attrition and "maximize the expected synergies" from the combination of the companies' wholesale operations. Accredited has approximately 1,300 employees in its wholesale operations and Aames, a mortgage real estate investment trust, has 225. Accredited said it will make offers to employ Aames' wholesale sales personnel and certain processing personnel. "This move allows us to expedite the restructuring of the wholesale platform announced previously by Aames and provide training and additional products to the Aames sales and sales support staffs," said James Konrath, Accredited's chairman and chief executive officer. The companies can be found online at http://www.accredhome.com and http://www.aames.com.