Impac
Posted: Mon Nov 19, 2007 2:40 pm..
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.....
..
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.....
..