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Impac Rides High at End of Q2 With $4B

NEWPORT BEACH, CA-The locally-based REIT says total assets are expected to reach $4 billion by the end of second quarter 2002 and exceed $5 billion by the end of the year's fourth quarter. The company plans to acquire around $1 billion of mortgage loans during the second quarter, which will be held in its long-term mortgage investment portfolio.

By Erin Cassin | Updated on May 28, 2002

NEWPORT BEACH, CA-Officials at Newport Beach-based Impac Mortgage Holdings Inc. have revised the company’s year-end projections for the third time in the past few months, now estimating that total assets will exceed $5 billion by the end of fourth quarter 2002.

The revision, which has been brought about by a greater amount of loan productions and acquisitions than previously anticipated, reflects a change of more than $1 billion from the original 2002 year-end projection of $3.7 billion in total assets.

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