Despite significant market volatility, nonbank lender Impac Mortgage Holdings appears to be long on non-QM.
The California-based company reported non-QM originations of $382.1 million in the fourth quarter, roughly double that of the third quarter, and positioned the company for an annualized run rate of approximately $1.5 billion. In total, Impac originated nearly $700 million in non-QM mortgages in 2021, more than double 2020’s output.
“Further context, the company originated less than $15 million in NonQM in the four quarters post-COVID in the second quarter of 2020 through the first quarter of 2021,” details ⇒
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