Impac Reduces Headcount, Reports Negative Margins in 3Q

National Mortgage News, Nov. 11, 2022–Brad Finkelstein (subscription)
The “risk off” posture that Impac Mortgage Holdings adopted approximately a year ago — in which it elected to sacrifice financial reward from more perilous products in favor of liquidity and stability — contributed to the negative origination margins the company reported in the third quarter, executives said on its earnings call.