FreedomWide- DEBT CONSOLIDATION, LOWER MONTHLY PAYMENTS, CONSOLIDATE DEBT

Orange County Business Journal Staff
Irvine-based Impac Mortgage Holdings Inc. said Friday that Chief Investment Officer Andrew McCormick and Chief Operating Officer Richard Johnson have resigned.

The company also said in a filing with the Securities and Exchange Commission that it’s delaying the filing of its 2007 annual report because it is currently in negotiations to settle part of its repurchase liabilities and refinance its remaining warehouse borrowings. The moves should improve Impac’s financial condition, the company said.

Impac’s annual report was expected to be filed Monday.

McCormick’s resignation takes effect at month’s end, while Johnson’s took effect this week. McCormick is taking a job with an investment management company. Johnson will continue to work for Impac in a consultant capacity.

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Tags: impac lending, mortgage lenders

This entry was posted on Saturday, March 15th, 2008 at 6:00 am and is filed under Mortgage Lender & Broker News, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.