On Friday, Accredited Home Lenders Holding disclosed that Jeff Walton will replace Jim Moran as chief executive officer effective immediately.
Moran has served as interim CEO since February 2008, and will step aside to make way for Walton, who has been with the mortgage industry for 25 years.
Walton was previously president, CEO, and senior managing director of Bear Stearns Residential Mortgage, where he was responsible for building and growing the companys wholesale and retention platform under a low-cost to produce business.
Before this role, Walton served as president of the mortgage division for First National Bank of Arizona and First National Bank of Nevada.
Last fall, Accredited was sold to Lone Star, a private equity fund.