U.S. News

Accredited Home Lenders' Announces Resignation of Finance Chief


Accredited Home Lenders Holding said on Thursday that Chief Financial Officer John Buchanan is resigning effective Aug. 31.

The company disclosed the resignation in a filing with the Securities and Exchange Commission.

Accredited, a San Diego-based subprime mortgage specialist, previously said it stopped taking loan applications and would shut most of its retail and wholesale operations by Sept. 5.

Shares of Accredited Home ended Thursday's session up 4.6% after Countrywide Financial, the largest mortgage lender in the United States, said Bank of America invested $2 billion.