SOURCE: Impac Mortgage Holdings, Inc.
IRVINE, CA--(Marketwire - Jul 12, 2012) - Impac Mortgage is expanding its footprint in the mortgage lending industry by adding Reverse Mortgages to its growing menu of mortgage products. Impac Mortgage is taking advantage of the growing trend in mortgage lending by expanding its operations, while other major financial institutions are exiting the marketplace. With major institutions exiting the Reverse Mortgage marketplace, Impac believes there exists a great opportunity to expand into a market that is very fragmented with no current lender enjoying more than 6% of the market.
The Reverse Mortgage Division will be led by two seasoned mortgage professionals, Richard Johnson and Frank Curry, who bring over 50 years of combined mortgage lending experience to Impac. Initially, the Company's focus will be on providing this product on a retail basis by hiring a unique combination of outside sales staff and internal sales personnel to support the company's call center operations located in California. Currently, Impac Mortgage has a national footprint licensed to originate in 33 states.
With the expansion of this mortgage opportunity in the Reverse Mortgage space, Impac is actively recruiting experienced inside and outside reverse mortgage sales professionals and operations staff to support this expansion.
About the Company
Excel Mortgage Servicing, Inc., dba Impac Mortgage, is a wholly owned subsidiary of Integrated Real Estate Service Corp., which through its subsidiaries, offers a wide range of integrated consumer and business services within the mortgage and real estate marketplaces.