Reports indicate that Impac has decided to exit the wholesale lending arena. They are keeping a small internal retail operation; but have ceased doing business via the broker channel. This report is courtesy of the ml-implode.com premium email service; which I highly recommend subscribing to if you are interested in the latest news in the mortgage industry.
There is no notification on the Impac broker site regarding this announcement. However; several emails were forwarded to ml-implode.com noting the change in business models.
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[Source: Blown Mortgage]
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