According to filings with the US Securities and Exchange Commission, Ford, in several transactions, bought 3.9 million shares of the common stock of Affordable Residential, giving him about 9.6% of the outstanding stock. That apparently makes him the second largest owner of the company.

However, it is not a hostile takeover attempt. "Mr. Ford acquired the shares of common stock for investment purposes," according to the filing. "Mr. Ford intends to assess his investment in the issuer from time to time on the basis of various factors, including, without limitation, the Issuer's business, financial conditions, results of operations and prospects, general economic, market and industry conditions, as well as other development and other investment opportunities." It notes that he may acquire more shares or sell them.

Scott D. Jackson, chairman, chief executive officer and co-chief operating officer of the company, notes there have been discussions about Ford joining the board. Jackson previously worked for Ford at a thrift Ford owned in Dallas. Also, when Jackson was a vice president of corporate finance at Goldman Sachs & Co., Ford was one of his clients.

Ford, in one SEC filing, says he is not sure whether he would accept a board position at this time, if it is offered. However, it notes that he "may engage in communications from time to time with one or more stockholder, officers or directors of the issuer regarding the Issuer's operating performance, strategic direction or other matters."

In 2002, Forbes Magazine ranked Ford as 209th richest person in the US with a net worth estimated at $1 billion. It says he bought his first bank in 1975 with a $1.2-million loan and later sold it for an $80-million profit. In 2002, he agreed to sell California-based Golden State Bancorp to Citigroup for $6 billion, personally making $800 million from the deal, according to the magazine.