Mr. Tomkinson stated, “With these settlements, management will be able to take what we believe to be its final steps in resolving the legacy obligations and contingencies of IMH, and put the Company’s mortgage lending business in its best position since the financial crisis began in 2007. Further, it helps put the Company in a position to take advantage of opportunities that exist today in the mortgage lending market.”
|Q3 2012||Q2 2012||Q3 YTD|
|Net earnings (loss)||Diluted EPS||Net earnings (loss)||Diluted EPS||Net earnings (loss)||Diluted EPS|
|Real Estate Services||3,585||0.46||4,012||0.48||10,562||1.35|
|Net (loss) earnings attributable to IMH||$||(2,279||)||$||(0.29||)||$||4,212||$||0.51||$||(2,857||)||$||(0.36||)|
The Company will hold a conference call tomorrow morning, November 1 st, 2012, at 9 a.m. Pacific Time (12:00 p.m. Eastern Time), to discuss the Company’s financial results and business outlook and to answer investor questions. After the Company’s prepared remarks, management will host a live Q&A session, to answer questions submitted via email. Please email your questions to firstname.lastname@example.org. Investors may participate in the conference call by dialing (866) 838 - 8084, conference ID number 60081087, or access the web cast via our web site at http://ir.impaccompanies.com. To participate in the conference call, dial in 15 minutes prior to the scheduled start time. The conference call will be archived on the Company's web site at http://ir.impaccompanies.com.
Forward-Looking StatementsThis press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements, some of which are based on various assumptions and events that are beyond our control, may be identified by reference to a future period or periods or by the use of forward looking terminology, such as “may,” “will,” “intends,” “believe,” “expect,” “likely,” ”appear,” “should,” “could,” “seem to,” “anticipate,” or similar terms or variations on those terms or the negative of those terms. The forward looking statements are based on current management expectations. Actual results may differ materially as a result of several factors, including, but not limited to the following: the ongoing volatility in the mortgage industry; our ability to manage successfully through the current market environment; our compliance with applicable local, state and federal laws and regulations and other general market and economic conditions; our ability to meet liquidity needs from current cash flows or generate new sources of revenue; management’s ability to manage successfully and continue to grow the Company’s mortgage and real estate business activities including the mortgage lending operations; the ability to make interest payments; increases in default rates or loss severities and mortgage related losses; our ability to obtain additional financing and the terms of any financing that we do obtain; inability to effectively liquidate properties to mitigate losses; increase in loan repurchase requests and ability to adequately settle repurchase obligations; the completion, structure and court approval of the proposed legal settlements; and the outcome, including any settlements, of litigation or regulatory actions pending against us or other legal contingencies.