Accredited Hits Up Its Daddy For $100M

The ink is barely dry on the merger papers, and already Accredited (AHH-PA) is announcing that it's hitting up new daddy Lone Star for $100 million. Presumably the cash will be used to payoff the Farallon loan, and in a bright piece of news (quite rare these days), Accredited expects to resume funding loans today. As of this morning, the Accredited website hasn't been updated to reflect this news, so their lending guidelines remain to be seen. We'll see how much they tighten up their lending standards and how much their production falls off from historical levels.