Five-star Lender Impac Mortgage Holdings Inc.
is currently in negotiations to acquire the mortgage origination business of a leading mortgage originator, according to a recent SEC filing. The company wrote it believes the acquisition will complement its current origination business model and position Impac to continue the roll out its new ALT QM
loan programs to consumers directly.
While negotiations continue, the company has not yet entered into any definitive agreements. Although Impac intends to pursue the acquisition, the company noted in the filding that it can't guarantee the acquireree will continue to negotiate until favorable terms can be reached, or that an agreement will ever be achieved.
Assuming the parties enter into a definitive agreement, the consummation of such acquisition will be subject to certain conditions.