Impac Mortgage Holdings

What Impac Mortgage Holdings does

Impac Mortgage Holdings, Inc. (NYSE: IMH) is a publicly traded residential mortgage lender headquartered in Irvine, California, founded in the mid-1990s and operating across the United States. The company originates residential mortgage loans — primarily purchase and refinance transactions — through its direct-to-consumer retail brand CashCall Mortgage (joined Impac in March 2015) and its New York DBA Excel Mortgage. Its core product focus is on non-qualified mortgage (Non-QM) and alternative residential credit products serving borrowers who do not qualify for traditional qualified mortgage programs.

The company's stated business activities span mortgage lending, loan servicing, portfolio loss mitigation, real estate services, and management of a securitized long-term mortgage portfolio. Operationally, Impac runs a capital-light model: loan servicing is outsourced to third-party servicers LoanCare Servicing and Select Portfolio Servicing, and origination runs through website and phone-based retail channels supported by a California office footprint. The company is licensed by the California Department of Financial Protection and Innovation (License #4131083), registered under NMLS #128231, and maintains CCPA, ECOA, and Fair Housing Act compliance.

Revenue is generated through transaction-fee income on mortgage originations. The company's reported financials show negative net income and an analyst-comparison revenue figure of approximately $8.6 million, well below the scale of typical publicly traded mortgage originators. Institutional ownership is approximately 12.5%, and the company is under class action investigation stemming from a February–March 2024 cybersecurity incident that exposed borrower names and Social Security numbers. Technology infrastructure is described as standard mortgage lending tooling with no proprietary AI, API, or mobile application capabilities disclosed.

Name

Impac Mortgage Holdings

Legal name

Impac Mortgage Holdings, Inc.

Website

https://impaccompanies.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Impac Mortgage Holdings (NYSE: IMH) is an Irvine, California-based residential mortgage lender specializing in non-qualified (Non-QM) loan products, originating through its CashCall Mortgage retail brand and servicing via third-party partners.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Real Estate Credit (522292), Mortgage and Nonmortgage Loan Brokers (522310), Credit Intermediation and Related Activities (522)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163), Asset-Backed Securities (6189)

akta.pro primary industry

Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)

akta.pro secondary industries

Retail Residential Mortgage Brokers (Purchase & Refinance) (FSALABAA), Non-Agency (Jumbo/Non-QM) Mortgage Servicing (FSALAEAB), Asset-Backed Securities (ABS) (FSACACAA)

Keywords

• Residential mortgage lending
• Non-QM lending
• Mortgage servicing
• Portfolio loss mitigation
• Real estate services

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mortgage Lending: Revenue generated from mortgage loan originations including purchase mortgages and refinance transactions. The company operates retail lending operations through CashCall Mortgage and services loans through third-party servicers like LoanCare Servicing and Select Portfolio Servicing.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Impac Mortgage Holdings provides residential mortgage lending through its retail brands—Impac Mortgage Corp., CashCall Mortgage, and Excel Mortgage—including purchase transactions, mortgage refinances, and non-qualified mortgage (Non-QM) products for borrowers who do not meet traditional qualified mortgage criteria. The company also performs mortgage servicing oversight, portfolio loss mitigation on its securitized long-term mortgage portfolio, and ancillary real estate services, with loan servicing functions outsourced to third-party servicers LoanCare Servicing and Select Portfolio Servicing.

Product overview

Impac Mortgage Holdings operates a multi-brand mortgage lending platform consisting of Impac Mortgage Corp. as the core entity, with subsidiary brands CashCall Mortgage (retail lending) and Excel Mortgage (New York DBA). The company offers a comprehensive suite of mortgage services including retail lending, mortgage servicing, portfolio loss mitigation, and real estate services. The operations focus on non-qualified mortgage (Non-QM) products and alternative residential credit solutions, positioning the company to serve borrowers who may not qualify for traditional mortgage products. The platform also manages a securitized long-term mortgage portfolio. Loan servicing is outsourced to third-party servicers including LoanCare Servicing and Select Portfolio Servicing.

Differentiator

Problem solved

Functional benefit

Brands

• CashCall Mortgage: Premier retail lender specializing in low interest residential mortgages, purchase transactions and mortgage refinances with programs to help qualify more borrowers.

Products and services

• Impac Mortgage Corp. The primary mortgage lending and brokering entity offering residential mortgage products including purchase transactions and refinances. It operates as the parent brand for subsidiary lending operations including CashCall Mortgage and Excel Mortgage.
• CashCall Mortgage A premier retail lender specializing in low interest residential mortgages, purchase transactions, and mortgage refinances with multiple programs designed to help qualify more borrowers.
• Retail Lending Services Mortgage lending services offered directly to consumers through the CashCall Mortgage brand, including purchase transactions and mortgage refinances with various loan programs.
• Mortgage Servicing Loan servicing operations including managing loan payments, escrow accounts, and borrower communications, performed through third-party servicers LoanCare Servicing and Select Portfolio Servicing.
• Portfolio Loss Mitigation Services focused on managing and mitigating losses on the securitized long-term mortgage portfolio through loss mitigation strategies.
• Real Estate Services Real estate-related services including property management and disposition services supporting the mortgage portfolio operations.
• Non-QM (Non-Qualified Mortgage) Lending Programs Alternative residential credit products designed to serve borrowers who may not qualify for traditional qualified mortgage products, responsibly matching consumer need with investor demand across multiple non-QM programs.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• LoanCare ServicingcoreOthersThird-party loan servicer handling servicing functions for Impac Mortgage loans. Contact: 855-803-5909.
• Select Portfolio ServicingcoreOthersThird-party loan servicer providing servicing operations for Impac Mortgage loan portfolios. Contact: 800-258-8602.

Scale indicators5 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Angel Oak Mortgage Solutions: Angel Oak Mortgage Solutions is a non-QM-focused mortgage lender that originates loans for borrowers who don't qualify for traditional agency products. Directly comparable to Impac's CashCall Mortgage Non-QM specialization, serving the same self-employed, non-prime, and alternative-credit borrower segment.
• Verus Mortgage Capital: Verus Mortgage Capital is a non-QM correspondent and wholesale investor that purchases and securitizes non-qualified mortgages. Overlaps with Impac on Non-QM underwriting and securitization expertise, with comparable focus on alternative residential credit products.
• NewRez LLC: NewRez is a non-bank mortgage lender and servicer with significant Non-QM origination through its Shellpoint brand. Comparable to Impac on retail and wholesale origination, Non-QM product set, and third-party servicing partnerships.
• Caliber Home Loans: Caliber is a non-bank mortgage originator and servicer with a meaningful Non-QM product suite through its Caliber Wholesale and retail channels. Direct competitor to Impac on alternative-credit residential lending and securitization execution.

Broad incumbents

• loanDepot: loanDepot is a large national retail and wholesale mortgage lender. While primarily QM-focused, it competes with CashCall Mortgage for the same retail purchase and refinance customer base and operates at much larger scale than Impac.
• Rocket Mortgage: Rocket Mortgage is the largest U.S. retail mortgage lender with a strong direct-to-consumer digital funnel. Competes with Impac's CashCall Mortgage on consumer purchase and refinance originations, though Rocket's product set is predominantly QM.
• PennyMac Financial Services: PennyMac is a large mortgage servicer and correspondent/conduit lender that manages significant securitized servicing portfolios. Comparable to Impac on portfolio servicing and securitized long-term portfolio management, though at materially larger scale.
• United Wholesale Mortgage (UWM): UWM is the largest wholesale mortgage lender in the U.S. and a major competitor in broker-channel origination. While UWM is primarily QM, its scale and broker relationships compete for the same loan officer and broker partners that feed Impac's origination pipeline.

Emerging players

• Kiavi (formerly LendingHome): Kiavi is a private real estate lender specializing in bridge and rehab lending for investors. While focused on investor loans rather than owner-occupied Non-QM, it shares Impac's emphasis on serving borrowers underserved by traditional bank credit channels.

Others

• Select Portfolio Servicing: Select Portfolio Servicing is a third-party mortgage sub-servicer and a current servicing partner of Impac. Included as a peer due to its operational role in servicing Impac's securitized portfolio, making it a key operational counterparty rather than a direct competitor.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat3 records

Key risks6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Impac Mortgage Holdings