Impac Sells Retail Branches to Prospect Mortgage, Keeps Reverse Business

Impac Mortgage has announced the sale of its brick and mortar retail operations to Prospect Mortgage for an undisclosed sum.  The company plans to maintain its call center operations in Irvine, California, including a reverse mortgage origination channel.  The sale will not impact Impac’s reverse mortgage business, a company spokesman told RMD.  Impac first entered […]

Impac Profits Soar, Company Looks to Reverse Mortgage Division Growth

Impac Mortgage Holdings Inc. (NYSE: IMH) today announced net earnings of $4.2 million, or $0.51 per diluted share in the quarter ended June 30, up substantially from $0.04 per diluted common share or $361,000 in the same same quarter of 2011.  Citing mortgage growth in general, company executives also noted the launch of a reverse […]

Impac Makes Move Into Reverse Mortgage Market

Citing the opportunity to gain market share in the wake of recent reverse mortgage lender exits, Irvine, Calif.-based Impac Mortgage said Friday it is getting into the business. “Impac Mortgage is taking advantage of the growing trend in mortgage lending by expanding its operations, while other major financial institutions are exiting the marketplace,” the company said. […]