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Wednesday, September 5, 2007

Shares of most mortgage lenders rise




September 4 2007 Money.CNN.com
Shares of most mortgage lenders rose Tuesday as a major lender raised cash through two deals and another lender drew a revised takeover offer from a suitor. Accredited Home draws takeover offer but fights for higher price; Thornburg Mortgage closes two deals allowing it to resume financing home loans. Accredited Home Lenders Holding Co.'s (up $0.64 to $9.69, Charts) shares surged 7.2 percent on the Nasdaq Tuesday. Lone Star Fund V, an investment fund, cut its offer to buy the San Diego-based lender to $8.50 per share from $15.10 per share. The company's shares have long treated the deal skeptically, trading below $4 even after the deal was announced.

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