Items Tagged with 'Joseph Tomkinson'

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  • Impac Mortgage CEO and Chairman Joseph Tomkinson is stepping down

    Company expects to name George Mangiaracina as new CEO
    Joseph Tomkinson, the CEO and chairman, of Impac Mortgage Holdings, is stepping down later this year, the company announced recently. Tomkinson has led the company since it went public in 1995. Impac said that it expects to elevate George Mangiaracina, who it recently named president, to CEO when Tomkinson steps down.
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  • Impac Mortgage raises $56 million to expand non-QM production, servicing portfolio

    CEO on future growth for Impac
    Impac Mortgage Holdings announced its second stock offering in roughly seven months as it plans to continue fueling its already growing servicing and non-qualified mortgage production. Impac’s involvement in non-QM production and servicing isn’t new, but as Joseph Tomkinson, chairman and CEO of Impac Mortgage, stated, both are growing.
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  • Impac's third quarter originations jump 30%

    Retail originations drive growth
    Impac’s mortgage origination pipeline didn’t let up in the third quarter, reporting that total originations increased 30%. The latest financial report includes the company’s recent reentry into the public equity markets again after a long stint away following the financial crisis. Looking at the results, Impac performed pretty well in the offering.
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  • Macquarie funds Impac non-QM originations

    Fuels expansion into non-qualified mortgage space
    “Our successful history originating this type of product, combined with our relationship with Macquarie, will allow Impac to make an immediate impact in the non-qualified mortgage space,” Joseph Tomkinson, chairman and CEO of Impac, said.
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  • Impac Goes After Scratch-and-Dent Business

    In response to deterioration in the subprime mortgage market, Impac Mortgage Holdings Inc. (MYSE:IMH) said early Friday that the company has formed Arch Bay Group LLC for the purpose of acquiring, restructuring and remarketing non-performing mortgage loans and real estate property. "With the dramatic increase in the number of mortgage defaults and the pressure warehouse lenders are giving their clients to sell mortgage loans, we believe there is an attractive opportunity to be a buyer of these non-performing loans," commented Joseph Tomkinson, chairman and CEO.
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  • Impac Reports $66.3 Million Loss For 2006

    Impac Mortgage Holdings, Inc. (NYSE:IMH), a large Alt-A residential REIT, said late yesterday that it lost $66.3 million during 2006, attributing losses to a compression of net interest margins. In an earnings statement, the company said its borrowings re-priced more quickly than adjustable mortgage assets, and that $29.5 million in losses were due to loan repurchases during the second and fourth quarters.
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