IRVINE, Calif .– (COMMERCIAL THREAD) – Impac Mortgage Holdings, Inc. (NYSE American: IMH) (the “Company” or “Impac”), today announced that Obi Nwokorie and Joseph Piscina have been appointed to the Board of Directors of the Company, effective September 17, 2021, bringing the total number of directors to six.
Earlier in the year, on June 1, 2021, the company appointed Mr. Nwokorie Executive Vice President, Alternative Credit Products and Chief Investment Officer. Previously, Mr. Nwokorie served as Managing Director of Mortgage Trading at Seer Capital Management LP, where he was responsible for bulk loan acquisition and securitization of non-QM, NPL and Fix mortgages. and Flip. Prior to Seer Capital, Mr. Nwokorie held various positions at Credit Suisse Securities (USA) LLC and UBS Securities LLC, including sub-prime and whole loan trading, leading the asset finance structuring team and on the new shows union desk.
Mr. Joseph Piscina is currently Chief Operating Officer and Partner of the Versant Group, whose funds focus on building and acquiring investment management businesses that evolve throughout market cycles. Mr. Piscina previously held positions at Ellington Management Company, Monday Capital Partners, Five Mile Capital Partners and Natixis. In addition, Mr. Piscina has also worked for Paine Webber, Kidder Peabody and Drexel Burnham during his career. Mr. Piscina holds a JD from Villanova School of Law and a BA from Columbia College.
Mr. George A. Mangiaracina, President and CEO of Impac Mortgage Holdings, Inc., said, “These valuable board additions replace two longtime former board members who, in 2020, did not show up. in the elections or have resigned from the board. As previously mentioned of Obi, he is a seasoned expert in capital markets and his leadership demonstrates the company’s continued and growing commitment to the design, origination and distribution of alternative credit products. Joe has been a decades-long structured finance professional with diverse expertise in asset management, commercial and residential real estate, corporate finance, mergers and acquisitions and a wide range of securitization backed activities. actives.
About the company
Impac Mortgage Holdings, Inc. (IMH or Impac) offers innovative mortgage and real estate lending solutions that meet the challenges of today’s economic environment. Impac’s businesses include mortgage lending, management, portfolio loss mitigation and real estate services, as well as portfolio management of securitized long-term mortgages, which includes residual interest in securitizations.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, some of which are based on various assumptions and events that go beyond beyond our control, may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as “may”, “capable”, “will”, “intends to”, “believe”, “expect”, “likely”, “potentially” “appears”, “should”, “could”, “seem”, “anticipate”, “expect”, “plan”, “ensure”, “desire”, or similar terms or variations thereof, or the negative of such terms. Forward-looking statements are based on the current expectations of management. Actual results may differ materially due to several factors including, but not limited to: the impact on the US economy and financial markets due to the novel coronavirus outbreak, and any negative impact or disruption the operations of the Company; successful development, marketing, sale and financing of new and existing financial products, including NonQM products; ability to successfully re-engage in loan business, recruit and hire talent to rebuild our TPO NonQM erection team and increase NonQM erection; ability to successfully sell loans to third party investors; volatility in the mortgage industry; unexpected fluctuations in interest rates and squeezing margins; performance of third party subcontractors; our ability to manage personnel costs relative to mortgage production levels; our ability to successfully utilize storage capacity and meet financial commitments; increased competition in the mortgage industry from larger or more efficient companies; system problems and risks associated with our technology; ability to successfully create cost and product savings through new technologies, including cyber risk and data security risk; larger than expected increases in default rates or the severity of mortgage losses and losses; ability to obtain additional financing through loan and repurchase facilities, debt or equity financing, strategic relationships or otherwise; the terms of any financing, whether debt or equity, that we obtain and our intended use of the proceeds of any financing; increased loan repurchase requests and the ability to adequately settle repurchase obligations; the inability to create brand awareness; the outcome of any claim to which we are subject, including any pending settlement or regulatory action against us or other legal contingencies; our compliance with applicable local, state and federal laws and regulations; the effects of any acquisition or disposition of assets that we may make; and other general market and economic conditions.
For a discussion of these and other risks and uncertainties that could cause actual results to differ from those contained in forward-looking statements, see our latest Annual Report on Form 10-K and Quarterly Reports on Form 10- Q that we file with the Securities and Exchange Commission and in particular review the “risk factors” therein. This press release speaks only as of its date and we do not undertake, and specifically disclaim any obligation, to publicly disclose the results of any revisions that may be made to forward-looking statements to reflect the occurrence of events or circumstances. anticipated or unforeseen. after the date of these declarations, except as required by law.
For additional information, questions or comments, please call Justin Moisio, Executive Director at (949) 475-3988 or email [email protected] Website: http://ir.impaccompanies.com Where www.impaccompanies.com.