What Impac Mortgage does

Impac Mortgage Corp. is a wholesale residential mortgage lender founded in 1995 and headquartered in Newport Beach, California, operating as a wholly-owned subsidiary of publicly traded Impac Mortgage Holdings, Inc. (NYSE: IMH). The company specializes in Non-QM lending products — including Bank Statement, Investor/DSCR, Agency Plus, Asset Qualification, and Income 1099 — that serve self-employed borrowers, real estate investors, and asset-rich individuals who fall outside conventional agency underwriting guidelines. It also offers Jumbo (up to $3.5M), Conventional (Fannie Mae/Freddie Mac conforming and high-balance), FHA, and VA loan products, holding comprehensive federal and state regulatory approvals across 45 states.

The company's technology stack centers on the TPO Connect broker portal built on Ellie Mae's Encompass loan origination platform, supplemented by the proprietary iPrice scenario pricing tool and integrations with Mercury Network for appraisal ordering and Veri-Tax for IRS Form 4506-C tax verification. Loans are originated exclusively through approved third-party mortgage brokers rather than direct-to-consumer, with conforming loans serviced by LoanCare and Non-QM/jumbo loans serviced by Select Portfolio Servicing. The company has originated over $90 billion in residential mortgage loans and issued over $60 billion in non-agency mortgage-backed securities since inception.

Impac's revenue model is built on transaction-based loan origination fees earned on each closed loan (the spread between wholesale rate and par) plus long-tail servicing revenue on its originated portfolio. In March 2023, the company announced a strategic wind-down of its TPO wholesale broker channel and ceased accepting new loan submissions or broker applications, materially contracting its origination distribution capacity while continuing to service existing loans.

Name

Impac Mortgage

Legal name

Impac Mortgage Corp.

Website

https://impacwholesale.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

251–500 employees

Short description

Impac Mortgage Corp. is a Newport Beach-based wholesale mortgage lender (subsidiary of NYSE: IMH) founded in 1995 that originates Non-QM, Jumbo, and government loans exclusively through approved third-party brokers, though its TPO broker channel is being wound down as of March 2023.

Ownership category

akta.pro rank

Product category

Wholesale Mortgage Lending

NAICS

Real Estate Credit (522292), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)

akta.pro secondary industry

Asset-Backed Securities (ABS) (FSACACAA)

Keywords

• Wholesale mortgage lending
• Non-QM lending
• Mortgage origination
• Alternative documentation loans
• Residential mortgage finance

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Loan Origination Fees: Impac earns origination fees on each mortgage loan closed through its wholesale platform. The company originates loans through approved brokers and earns the spread between the wholesale rate and par.
2. Servicing Rights: The company maintains servicing relationships on originated loans. Conforming loans are serviced by LoanCare; Non-QM loans are serviced by Select Portfolio Servicing.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Impac Mortgage operates as a national wholesale mortgage lender originating residential mortgage loans through approved third-party originators (TPO/brokers) under the Impac Wholesale Mortgage brand. The company offers a diversified portfolio spanning Non-QM products (Bank Statement, Investor DSCR, Agency Plus, Asset Qualification, Income 1099), Jumbo, Conventional (Fannie Mae/Freddie Mac), FHA, and VA loans. Impac Mortgage Corp. is a wholly owned subsidiary of Impac Mortgage Holdings, Inc. (NYSE: IMH), and as of March 2023 is winding down its TPO broker channel while continuing to service and operate remaining lending business.

Product overview

Impac Mortgage operates as a national wholesale non-QM lender offering a diversified product portfolio across Non-QM, Jumbo, Conventional, and Government (FHA/VA) categories. Its core Non-QM suite includes Bank Statement (self-employed), Investor (DSCR-based), Agency Plus (near-prime), Asset Qualification (asset-based), and Income 1099 products — each targeting distinct borrower segments outside conventional guidelines. Supporting products include Jumbo (up to $3.5M), Conventional (Fannie Mae/Freddie Mac conforming and high-balance), and VA Loans (purchase, cash-out, IRRRL). The technology platform includes the Encompass TPO Connect broker portal, the proprietary iPrice pricing tool, and the 21 & Done borrower incentive module. The company is winding down its TPO/broker wholesale channel as of March 2023 while continuing to service existing loans and operate its remaining lending operations.

Differentiator

Problem solved

Functional benefit

Brands

• 21 & Done: A borrower incentive program that rewards borrowers with a $500 credit at closing when their loan becomes Clear to Close (CTC) within 21 calendar days from original submission to underwriting.
• iPrice

Products and services

• Bank Statement Loan Non-QM mortgage for self-employed borrowers qualifying on 12 months of bank statements rather than tax returns. Supports loan amounts up to $3M, LTV up to 80% on cash-out refinances, FICO as low as 680, and does not require tax returns or 4506C.
• Investor (DSCR) Loan
• Agency Plus Loan
• Asset Qualification Loan
• Income 1099 Loan
• Jumbo Loan
• Conventional Loan
• VA Loan
• FHA Loan

Quantifiable outcome

• $90 billion+ in residential mortgage loans originated since 1995
• +3 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• TPO Connect (Encompass)coreTechnology or IntegrationTPO Connect is the broker portal platform built on Encompass technology, enabling brokers to submit loans, track pipeline status, manage conditions, upload documents, order credit reports, and communicate with account executives. This is the primary technology platform for broker interactions.
• LoanCarecoreOthersLoanCare services conforming, FHA, and VA loans originated through Impac. Provides customer payment processing and loan administration for these loan types.
• Select Portfolio ServicingcoreOthersSelect Portfolio Servicing handles servicing for Non-QM and jumbo loans originated through Impac. Provides customer payment processing and loan administration for alternative loan products.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Angel Oak Mortgage Solutions: Non-QM wholesale lender offering bank-statement, DSCR, and asset-qualification products through a TPO/broker channel — essentially the most direct functional mirror of Impac's pre-wind-down wholesale Non-QM business.
• Carrington Wholesale Lending: Wholesale residential lender offering Non-QM, bank-statement, and investor programs through brokers — directly comparable to Impac's product mix and broker distribution approach.
• HomeXPress Mortgage: Non-QM wholesale lender focused on self-employed, investor, and agency-plus products distributed exclusively through brokers — a closely aligned niche and channel peer.
• Plaza Home Mortgage: Wholesale and correspondent residential lender with a Non-QM product suite and broker-focused platform — competing head-to-head with Impac on similar products and broker relationships.
• A&D Mortgage: Non-QM wholesale originator serving mortgage brokers with bank-statement, DSCR, and asset-based products — overlapping product set and broker-driven GTM model.
• Newfi Wholesale: Non-QM and DSCR-focused wholesale lender that funds and services loans via a broker network targeting self-employed borrowers and real estate investors — directly comparable product and GTM model.
• Caliber Home Loans (Caliber Wholesale): Residential mortgage originator with an active wholesale channel offering Non-QM, jumbo, and agency products to brokers — overlapping product breadth and the same third-party originator distribution strategy as Impac.
• Deephaven Mortgage: Non-QM wholesale originator focused on self-employed, investor, and non-conforming borrower segments distributed through a broker channel — closely competitive in product and target.

Broad incumbents

• Verus Mortgage Capital: Non-QM MBS investor and program participant that partners with originator/lenders — comparable to the securitization side of Impac's business (Impac issued $60B+ in non-agency MBS).
• Angel Oak Capital Group (parent): Larger, well-capitalized alternative-credit platform that combines a Non-QM wholesale originator with ABS issuance and a real estate finance business — comparable to Impac at the broader securitization-plus-origination level.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/impacmortgage
• Xx.com/impacmortgage

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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