Mortgage Company Suspends Lending for Two Weeks

Impac Mortgage loan Holdings said it was instituting a two-week suspension of all lending exercise, productive March 30, in hopes that the pause will give the Fed’s attempts to stabilize the mortgage-backed stability markets time to choose effect.

The organization, a micro-cap residential mortgage originator and servicer, cited “liquidity constraints” and “de-jeopardizing mandates” initiated by some of its funds markets counterparties with immediate access to the Federal Reserve’s funding mechanisms for the decision.

It said the suspension was a precaution.

The steps and continued lack of interaction from one of the company’s complete loan investors have created uncertainty and worry

Read More