Impac Mortgage Holdings, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 12, 2021 at 04:05 pm
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Impac Mortgage Holdings, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 10.980 million compared to negative total revenue of USD 4.058 million a year ago. Operating loss was USD 8.636 million compared to USD 18.523 million a year ago. Net loss was USD 8.864 million compared to USD 22.829 million a year ago. Diluted loss per share from continuing operations was USD 0.42 compared to USD 1.08 a year ago. For the half year, total revenue was USD 31.564 million compared to negative total revenue of USD 47.567 million a year ago. Operating loss was USD 9.350 million compared to USD 92.799 million a year ago. Net loss was USD 9.547 million compared to USD 87.560 million a year ago. Diluted loss per share from continuing operations was USD 0.45 compared to USD 4.12 a year ago.
Impac Mortgage Holdings, Inc. is an independent residential mortgage lender that originates, sells, and services residential mortgage loans. The Companyâs operations include mortgage lending, servicing, portfolio loss mitigation, real estate services, and the management of the securitized long-term mortgage portfolio. Its segments include Mortgage Lending, Long-Term Mortgage Portfolio and Real Estate Services. The Mortgage Lending segment provides mortgage lending products through two lending channels, retail and wholesale and retains mortgage servicing rights. The Long-Term Mortgage Portfolio segment consists of residual interests in securitization trusts. The Real Estate Services segment performs master servicing and provides loss mitigation services for primarily its securitized long-term mortgage portfolio. It provides loss mitigation and real estate services primarily on its own long-term mortgage portfolio, including default surveillance, short sale service, and other services.