Impac Mortgage Holdings Inc., Newport Beach, Calif., has announced a new "broker-to-banker" transition program that enables qualified brokers to apply for a customized line of credit through Impac's warehouse-lending group.Once approved, brokers can receive same-day fundings and up to 100% financing on alternative-A loans sold to Impac. Once loan packages are approved by Impac's iDASLg2 automated loan underwriting, there is no haircut on the transaction and brokers can close the deal on their own terms, the company said. The broker-to-banker program offers a $3 million start-up LOC, online reporting, bulk and flow delivery, flexible loan solutions down to alt-B, and electronic collateral delivery and tracking, Impac said. The company, a mortgage real estate investment trust, can be found online at http://www.impaccompanies.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry