IMH - IMH STOCK NEWS

Impac Mortgage Holdings, Inc. (IMH) announced that Camac Fund, LP and Sara-Bay Financial Corp. intend to nominate candidates for election as Preferred Directors at a Special Meeting set for October 13, 2021. Only holders of 9.375% Series B Cumulative Redeemable Preferred Shares as of September 10, 2021, can vote. The meeting will be virtual, and beneficial owners must register and obtain a legal proxy to participate. The company emphasizes that it does not take responsibility for the accuracy of third-party information.

Impac Mortgage Holdings, Inc. (IMH) has appointed Obi Nwokorie and Joseph Piscina to its Board of Directors, effective September 17, 2021, restoring the board's count to six members. Nwokorie, previously EVP for Alternative Credit Products, brings extensive capital markets experience, while Piscina, COO of The Versant Group, has a solid background in asset management and structured finance. These appointments replace two long-standing board members, emphasizing Impac's commitment to enhancing its leadership in the alternative credit market.

Impac Mortgage Holdings, Inc. (NYSE American: IMH) has announced a Special Virtual Meeting for holders of its 9.375% Series B Cumulative Redeemable Preferred Stock on October 13, 2021 at 9:00 a.m. PDT. Only registered holders as of September 10, 2021 can attend and vote. The key purpose of this meeting is to elect two Preferred Directors. Notably, Camac Fund, LP plans to nominate Eric Shahinian and Michael Cricenti for these positions. Registration for the meeting must be completed by October 10, 2021.

Impac Mortgage Holdings (NYSE American: IMH) reported significant financial results for Q2 2021, with a net loss of $(8.9) million or $(0.42) per diluted share, an improvement from $(22.8) million or $(1.08) per diluted share in Q2 2020. Total revenues were $10.98 million, up from $(4.06) million the previous year. However, total expenses increased by 36% to $19.62 million. The mortgage servicing portfolio rose to $48.6 million. Despite a 28% decline in total originations to $611.5 million from Q1 2021, NonQM originations increased significantly, reflecting a strategic pivot amidst rising interest rates.

Impac Mortgage Holdings (NYSE American: IMH) is set to hold a conference call and live webcast on August 12, 2021, at 2:00 p.m. P.T. to discuss its Q2 2021 financial results. Results will be released post-market closure on the same day, and management will engage in a Q&A session. Investors can dial in at (844) 265-1560, using conference ID 8773487, or access the webcast at ir.impaccompanies.com. The call will be archived two hours post-event.

Impac Mortgage Holdings (NYSE American: IMH) has appointed Obi Nwokorie as EVP of Alternative Credit Products and Chief Investment Officer, effective June 1, 2021. Nwokorie brings extensive experience from Seer Capital Management, Credit Suisse, and UBS, focusing on mortgage trading and risk management. His leadership is expected to enhance the company's engagement in alternative credit mortgages post-COVID. CEO George A. Mangiaracina highlighted that this strategic hire underscores a renewed commitment to the design and distribution of alternative credit products.

Impac Mortgage Holdings (NYSE American: IMH) reported a net loss of $683K ($0.03 per share) for Q1 2021, a significant reduction from a $64.7M loss in Q1 2020. Core loss was $262K ($0.01 per share), also an improvement from $56.1M the previous year. Revenues increased to $20.6M, primarily due to a $48.3M rise in loan sale gains. Total expenses dropped by 31% to $21.3M, aided by lower personnel and promotional costs. Total originations reached $849.9M, a 5% increase from Q4 2020 but down 44% from Q1 2020. The company continues to focus on NonQM origination amid rising interest rates.

Impac Mortgage Holdings, Inc. (NYSE American: IMH) will host a conference call on May 7, 2021, at 6:00 a.m. P.T. (9:00 a.m. E.T.) to discuss its Q1 2021 financial results, releasing them after market close on May 6, 2021. The call will feature a live Q&A session, where questions can be submitted via email. Participants can dial in at (844) 265-1560 with conference ID 6174517. The call will also be available via webcast on the company's investor relations site. Impac provides mortgage lending, servicing, and real estate solutions amidst current economic challenges.

Impac Mortgage Holdings (NYSE American: IMH) reported its financial results for Q4 and the year ended December 31, 2020. The company recorded a net loss of $(2.2) million, or $(0.10) per diluted share for Q4 2020, compared to a net loss of $(677) thousand in Q4 2019. For the full year, the net loss was $(88.2) million, or $(4.15) per diluted share, a sharp decline from $(7.9) million in 2019. However, unrestricted cash improved to $54.2 million from $24.7 million due to decreased warehouse haircuts. Core earnings showed a positive shift, indicating focus on mortgage origination.