Impac Mortgage Holdings, Irvine, Calif., expects to post a profit when it reports second quarter earnings on Wednesday, and continues to expand its lending and servicing operations, the company said in a recent SEC filing.
The firm disclosed that it originated $518 million of home mortgages in 2Q – more than double of what it funded in the same period a year ago. Wholesale production accounted for 58% of its originations.
The company, a former alt-A lender that was once de-listed, sold $250 million of mortgage servicing rights that was transferred in May. The company noted that despite the sale, it still increased its servicing portfolio to $946 million at June 30.
Impac’s residential lending platform now employs 400 workers in 27 branch offices and says it has a network of 1,025 real estate agents and brokers.
The company continues to be headed by Joseph Tomkinson and William Ashmore who steered the firm through the housing crisis. Its shares are now traded on the New York Stock Exchange.
