- With respect to new warehouse facilities:
- Obtained its first warehouse facility since 2008 to fund residential mortgage loans;
- Increased warehouse funding capacity to $42.0 million as of December 31, 2010;
- Obtained preliminary term sheets from lenders for a potential total warehouse funding capacity of $160 million as of March 25, 2011.
- Acquired controlling interest in a mortgage banking firm, AmeriHome Mortgage Corporation (AmeriHome), giving the Company ability to (i) originate, sell to and service for Fannie Mae and Freddie Mac loans, (ii) originate Federal Housing Authority (FHA) government loans and (iii) issue and service Ginnie Mae securities;
- Through Excel, obtained approval to directly originate FHA loans as a HUD mortgagee and approval to originate, sell and service Fannie Mae loans; and
- Funded $20.7 million in residential mortgage loans in 2010.
Impac Mortgage Holdings, Inc. Announces Year End 2010 Results
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