IRVINE, CA--(Marketwire -05/07/12)- Impac Mortgage has entered the residential correspondent lending business. The Company's correspondent lending and capital markets experience dates back to the mid 1990s with over $90 billion in mortgage originations and acquisitions. Impac Mortgage's Correspondent Lending team will be on-site at the MBA's 2012 Secondary Market Conference in New York City, meeting with new and existing clients focusing on ways to help lenders build their retail business while also providing a strong execution outlet in the secondary market.
Impac Mortgage's client-centric approach is managed by the team of Mike Falce and Larry Matlin who bring over 20-years of deep secondary and capital markets experience to Impac. Impac Mortgage's goal is to not just be another aggregator for clients but rather the "go-to" lender to get the job done right. Surviving the fallout of the mortgage industry has given the Company a unique perspective on how important relationships are in this business and what it means to be successful in the long term. Impac Mortgage Correspondent Lending is going back to the basics of mortgage banking by offering top tier customer service. The Company's best in class service includes 48-hour file reviews, 24 hour underwriting scenario response times and 5-7 day funding timelines.
Impac's Correspondent unit purchases Conventional loans in 49 states (including the District of Columbia) and Government loans (FHA, VA & USDA) in 43 states (including D.C.), for sale through its affiliate to Ginnie Mae, Fannie Mae and Freddie Mac. The Company plans to extend its product offering in the future to include FHA 203Ks (both streamline and standard) and Prime Jumbo loans.
Impac's strategy in building a correspondent platform focuses on community and regional banks as wells as credit unions and smaller select mortgage banking firms. The strategy focuses on being a take-out investor for institutions that originate quality conventional and government loans eligible for sale to Agencies. By providing better turn times and more immediate liquidity than the competitors, Impac has successfully grown its approved correspondent client list through word of mouth and reputation of providing superior customer service.
About the Company
Excel Mortgage Servicing, Inc., dba Impac Mortgage, is a wholly owned subsidiary of Integrated Real Estate Service Corp., which through its subsidiaries, offers a wide range of integrated consumer and business services within the mortgage and real estate marketplaces.