No, They did no wipe me out. It was not a major holding, except in my now non-existent IRA. I am fine. However this company is NOT fine. Their Mar, 2011 Quarterly report shows some deterioration, and a return to losses. If this "Double Dip" in housing persists, bankruptcy may begin to loom again, and the only value in the company will be the preferreds, not the common..
Disclosure: I SOLD all PFD and Common shares in Impac long ago, except for one share per account to make it easier to keep track of their prices. From time to time I purchase shares on a short-term trade.