Impac is back in the non-QM business

The company halted non-QM originations in March

Impac is back in the non-QM business

Impac Mortgage Corp. has reentered the non-QM market following a hiatus due to the economic impacts of the COVID-19 pandemic.

In March, the company temporarily halted all originations, citing “liquidity concerns” in the wake of the pandemic. It restarted originations in June – save for its non-QM channel. Now, however, Impac is back in the non-QM space. It is now offering bank statement, agency plus, asset qualification, and investor loans with loan limits up to $3 million, according to a company release.

“Impac intends to participate in non-QM and other originations in the same thoughtful and risk-focused way as in the past,” said Brian Robinett, the company’s chief production officer. “Impac has a stories history around alternative credit, being a pioneer in both the Alt-A and non-QM space. We continue to have a strong appetite around non-QM and continue to pay attention to the overall investor landscape, borrower behavior and appropriate risk-based pricing for these products.”