Impac Mortgage, the residential lending division of Impac Mortgage Holdings, Inc. (IMH) will be partnering with HomeAdvisor in a deal that allows Impac Mortgage services to be advertised on HomeAdvisor.com to users who want more information about lending services.
CEOs for both companies patted one another on the back in announcing the deal, which should benefit both companies and create more options for their customers. HomeAdvisor.com will feature Impac Mortgage as an exclusive mortgage finance provider for online consumers.
"HomeAdvisor is a cutting-edge resource in the home industry which Impac Mortgage is proud to further serve, educate and provide mortgage product solutions to meet consumers' unique needs," said Bill Ashmore, co-founder and president of Impac Mortgage.
HomeAdvisor is a leading website and mobile app source that connects homeowners with local service professionals for their home repair, maintenance and improvement needs. They have been serving customers for 14 years. The company has built a network of 85,000 pre-screened, customer-reviewed service professionals.
"We are pleased to partner with Impac Mortgage and have their knowledge of financial and real estate solutions available as an additional tool for homeowners," said HomeAdvisor's CEO Chris Terrill.
Impac Mortgage will offer HomeAdvisor clients renovation and home improvement mortgage education and products, like cash out refinances, FHA 203(k)s, and HELOC loans.
The agreement and service will be rolled out in the first quarter of 2014. I will generate mortgage originations beginning in the second quarter of 2014. According to Impac, HomeAdvisor consumers will be channeled through Impac's current call center and its new lead generation marketing which together will generate home improvement and renovation loans along with reverse mortgages.