SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                               (Amendment No. 2)*


                    Under the Securities Exchange Act of 1934

                       ACCREDITED HOME LENDERS HOLDING CO.
              -----------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
              -----------------------------------------------------
                         (Title of Class of Securities)

                                    00437P107
              -----------------------------------------------------
                                 (CUSIP Number)


                                December 31, 2006
              -----------------------------------------------------
             (Date of Event Which Requires Filing of This Statement)


      Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

      [x] Rule 13d-1(b)

      [x] Rule 13d-1(c)

      [ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



CUSIP No. 00437P107


   1.  NAME OF REPORTING PERSON(S)
           Eubel Brady & Suttman Asset Management, Inc.
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           Delaware
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              0
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,033,500
   REPORTING      --------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               0
                  --------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                           2,033,500
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,033,500
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.05%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IA, CO


CUSIP No. 00437P107

   1.  NAME OF REPORTING PERSON(S)
           Ronald L. Eubel
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           United States of America
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              340
  BENEFICIALLY    --------------------------------------------------------------




    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,056,511
   REPORTING      -------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               340
                  -------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                           2,056,511
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,056,851
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.14%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IN


CUSIP No. 00437P107


   1.  NAME OF REPORTING PERSON(S)
           Mark E. Brady
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           United States of America
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              0
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,056,511
   REPORTING      --------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               0
                  --------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                           2,056,511
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,056,511
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.14%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IN




CUSIP No. 00437P107


   1.  NAME OF REPORTING PERSON(S)
           Robert J. Suttman
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           United States of America
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              0
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,056,511
   REPORTING      --------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               0
                  --------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                           2,056,511
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,056,511
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.14%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IN


CUSIP No. 00437P107


   1.  NAME OF REPORTING PERSON(S)
           William E. Hazel
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           United States of America
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              90
  BENEFICIALLY    --------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,056,511





   REPORTING      --------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               90
                  --------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                       2,056,511
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,056,601
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.14%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IN


CUSIP No. 00437P107


   1.  NAME OF REPORTING PERSON(S)
           Bernard J. Holtgreive
--------------------------------------------------------------------------------
   2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                             (a) [ ]
                                                             (b) [X]
--------------------------------------------------------------------------------
   3.  SEC USE ONLY
--------------------------------------------------------------------------------
   4.  CITIZENSHIP OR PLACE OF ORGANIZATION
           United States of America
--------------------------------------------------------------------------------
   NUMBER OF      5.   SOLE VOTING POWER
     SHARES              0
  BENEFICIALLY    -------------------------------------------------------------
    OWNED BY      6.   SHARED VOTING POWER
      EACH                 2,056,511
   REPORTING      -------------------------------------------------------------
     PERSON       7.   SOLE DISPOSITIVE POWER
      WITH               0
                  -------------------------------------------------------------
                  8.   SHARED DISPOSITIVE POWER
                           2,056,511
--------------------------------------------------------------------------------
   9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
           2,056,511
--------------------------------------------------------------------------------
   10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
   11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
          8.14%
--------------------------------------------------------------------------------
   12. TYPE OF REPORTING PERSON*
           IN




Item 1. (a) Name of Issuer:
                  Accredited Home Lenders Holding Co.
            --------------------------------------------------------------------
        (b) Address of Issuer's Principal Executive Offices:

                  15090 Avenue of Science
                  San Diego, CA 92128

            --------------------------------------------------------------------
Item 2. (a) Name of Person Filing:
                  Eubel Brady & Suttman Asset Management, Inc. ("EBS")
                  Ronald L. Eubel*
                  Mark E. Brady*
                  Robert J. Suttman*
                  William E. Hazel*
                  Bernard J. Holtgreive*

                  *These individuals may, as a result of their ownership in and
            positions with EBS and other affiliated entities, be deemed to be
            indirect beneficial owners of the equity securities held by EBS and
            one affiliated entity, EBS Partners, LP. The filing of this
            statement shall not be deemed an admission by Ronald L. Eubel,
            Mark E. Brady, Robert J. Suttman, William E. Hazel or Bernard J.
            Holtgreive that any of them beneficially own the securities for
            which they report shared dispositive power and shared voting power,
            regardless of whether they are acting in concert or acting
            severally.

            --------------------------------------------------------------------
        (b) Address of Principal Business Office, or if None, Residence:
                  7777 Washington Village Drive
                  Suite 210
                  Dayton, OH 45459

            --------------------------------------------------------------------
        (c) Citizenship:
                  Eubel Brady & Suttman Asset Management, Inc. -
                       Delaware corporation
                  Ronald L. Eubel, Mark E. Brady, Robert J.
                  Suttman, William E. Hazel and Bernard J. Holtgreive -
                       United States citizens
            --------------------------------------------------------------------
        (d) Title of Class of Securities:
                       Common Stock
            --------------------------------------------------------------------
        (e) CUSIP Number:
                       00437P107
            --------------------------------------------------------------------


Item 3. If this statement is filed pursuant to Sections 240.13d-1(b), or
        240.13d-2(b) or (c), check whether the person filing is a:



(e) (x) An investment adviser in accordance with Section
        240.13d-1(b)(1)(ii)(E)


Item 4. Ownership.

   (a) Amount Beneficially Owned




         Eubel Brady & Suttman Asset Management, Inc., 2,033,500 shares. Messrs.
         Eubel, Brady, Suttman, Hazel and Holtgreive may, as a result of their
         ownership in and positions with EBS and other affiliated entities, be
         deemed to be indirect beneficial owners of the 2,056,511 shares held by
         EBS and one affiliated entity, EBS Partners, LP. Mr. Eubel is the
         beneficial owner of an additional 340 shares. Mr. Hazel is the
         beneficial owner of an additional 90 shares.


   (b) Percent of Class


         Eubel Brady & Suttman Asset Management, Inc. 8.05%
         Messrs. Eubel, Brady, Suttman, Hazel and Holtgreive 8.14%


   (c) Number of Shares as to which the Person has:

         (i)   Sole power to vote or direct the vote
                 340 (Mr. Eubel only)
                  90 (Mr. Hazel only)


         (ii)  Shared power to vote or direct the vote
                 2,056,511 (Messrs. Eubel, Brady, Suttman, Hazel and Holtgreive)
                 2,033,500 (EBS)


         (iii) Sole power to dispose or to direct the disposition of
                 340 (Mr. Eubel only)
                  90 (Mr. Hazel only)


         (iv)  Shared power to dispose or to direct the disposition of
                 2,056,511 (Messrs. Eubel, Brady, Suttman, Hazel and Holtgreive)
                 2,033,500 (EBS)


Item 5. Ownership of Five Percent or Less of a Class.

        Inapplicable

Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

        Inapplicable

Item 7. Identification and Classification of the Subsidiary Which Acquired the
        Security Being Reported on By the Parent Holding Company or Control
        Person.

        Inapplicable

Item 8. Identification and Classification of Members of the Group.

        Inapplicable

Item 9. Notice of Dissolution of Group.

        Inapplicable




Item 10.    Certifications.


      With respect to Eubel Brady & Suttman Asset Management, Inc.:

      Certification for Rule 13d-1(b): By signing below, I certify that, to the
best of my knowledge and belief, the securities referred to above were acquired
and are held in the ordinary course of business and were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.

      With respect to Ronald L. Eubel, Mark E. Brady, Robert J. Suttman, William
E. Hazel and Bernard J. Holtgreive:

      Certification for Rule 13d-1(c): By signing below, I certify that, to the
best of my knowledge and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect.

                                   SIGNATURES

      With respect to all reporting persons: After reasonable inquiry and to the
best of my knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.


Date:  February 14, 2007


            EUBEL BRADY & SUTTMAN ASSET MANAGEMENT, INC.
Signature:  /s/ RONALD L. EUBEL
            -------------------------------------------------
            By:  Ronald L. Eubel
                 ----------------------------------
            Title: Chief Investment Officer

Signature:  /s/ RONALD L. EUBEL
            -------------------------------------------------
Name/Title  Ronald L. Eubel

Signature:  /s/ MARK E. BRADY
            -------------------------------------------------
Name/Title  Mark E. Brady

Signature:  /s/ ROBERT J. SUTTMAN
            -------------------------------------------------
Name/Title  Robert J. Suttman

Signature:  /s/ WILLIAM E. HAZEL
            -------------------------------------------------
Name/Title  William E. Hazel

Signature:  /s/ BERNARD J. HOLTGREIVE
            -------------------------------------------------
Name/Title  Bernard J. Holtgreive



* Attention. Intentional misstatements or omissions of fact constitute federal
  criminal violations (see 18 U.S.C. 1001).

                                    AGREEMENT


      The undersigned agree that this Schedule 13G dated February 14, 2007
relating to the Common Stock of Accredited Home Lenders Holding Co. shall be
filed on behalf of the undersigned.


                               /s/ EUBEL BRADY & SUTTMAN ASSET
                                    MANAGEMENT, INC.
                                    By: /s/ RONALD L. EUBEL
                                        ---------------------------------
                                    By: Ronald L. Eubel
                                        ---------------------------------
                                    Title: Chief Investment Officer

                                    /s/ RONALD L. EUBEL
                                        ---------------------------------
                                        Ronald L. Eubel

                                    /s/ MARK E. BRADY
                                        ---------------------------------
                                        Mark E. Brady

                                    /s/ ROBERT J. SUTTMAN
                                        ---------------------------------
                                        Robert J. Suttman

                                    /s/ WILLIAM E. HAZEL
                                        ---------------------------------
                                        William E. Hazel

                                    /s/ BERNARD J. HOLTGREIVE
                                        ---------------------------------
                                        Bernard J. Holtgreive