Impac

[TJ_98370]

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Impac Mortgage Holdings Inc., the California home lender that ceased most lending two months ago, said it will "significantly"' increase its loan-loss provisions as rising mortgage defaults hamper U.S. debt markets.....

.....Impac specialized in Alt-A mortgages, which fall between prime loans given to the most creditworthy borrowers and subprime loans, which go to customers with the worst repayment records or heavy debts. Some Alt-A loans demand less documentation of a borrower's income and are used to buy properties for investment.....
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