IRVINE, CA--(Marketwire -02/10/12)- Two seasoned executives with over 40 years of combined mortgage experience, Larry Maitlin and Michael Falce, recently joined Impac to build a Correspondent Lending division focused on secondary market Agency whole loan transactions. Combining Impac's Fannie Mae, Freddie Mac and Ginnie Mae Seller/Servicer approvals with seasoned executives in capital markets, sales and operations, the Correspondent Lending team provides Banks, Lenders and Credit Unions with a source of liquidity and dependability to exit new and seasoned loans on both a bulk and flow basis.
Mr. Falce spent the majority of his career as a capital markets and sales executive at Aurora Loan Services, a division of Lehman Brothers and Countrywide Home Loans. Mr. Maitlin spent the majority of his career as Assistant Treasurer and as a capital markets executive at Credit-Based Asset Servicing and Securitization LLC (C-BASS).
Due to today's challenging economic environment, many institutions are abandoning the correspondent lending market. Conversely, Impac sees the opportunity to help clients grow their business by providing superior customer service while building trust and loyalty one relationship at a time.
The Corresponding Lending team:
- Facilitates the prompt review by our due diligence team of every file to Fannie Mae, Freddie Mac, FHA, VA and USDA guidelines.
- Provides bulk-bid pricing on both newly originated and seasoned portfolios.
- Enables clients to deliver one loan at a time on a flow basis.
- Provides its clients with 48-hour file reviews and seven (7) day funding timelines.
Impac Correspondent Lending seeks to establish strategic relationships with institutions that mirror its own strong company principles for responsible lending, prudent underwriting and fraud prevention.
About the Company
Excel Mortgage Servicing, Inc., is a wholly owned subsidiary of Impac Mortgage Holdings Inc., a publicly traded company (AMEX: IMH - News) which through its subsidiaries, offers a wide range of integrated consumer and business services within the mortgage and real estate marketplaces