Impac Mortgage Holdings Inc., Newport Beach, Calif., has priced an offering of 5.0 million shares of its common stock at $19.50 per share.The offering produced estimated net proceeds of $92.5 million, Impac said. It was led by UBS Investment Bank; Friedman, Billings, Ramsey & Co.; Sandler O'Neill & Partners LP; and JMP Securities. The company has granted the underwriters a 30-day option to buy up to 750,000 additional shares to cover any overallotments. Impac, a mortgage real estate investment trust, can be found online at http://www.impaccompanies.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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