Impac to Buy Fidelity Bancorp Assets

Impac Commercial Capital Corp. has agreed to purchase certain assets, and hire the employees, of Fidelity Bancorp Funding Inc., Westminster, Calif., to expand its commercial loan origination platform, according to ICCC's parent company, Impac Mortgage Holdings Inc.Impac Mortgage, a real estate investment trust based in Irvine, Calif., said William Sonsma, the sole shareholder of Fidelity, will assume the title of executive vice president and managing director of wholesale at ICCC. Joseph R. Tomkinson, chairman and chief executive officer of Impac Mortgage, said one of the mortgage REIT's strategic goals is to increase its small-balance multifamily and commercial loan originations. The companies can be found on the Web at http://www.impaccompanies.com.

For reprint and licensing requests for this article, click here.
Originations
MORE FROM NATIONAL MORTGAGE NEWS