A re-evaluation of of CashCall Inc.’s value has left Impac Mortgage Holdings Inc. with a huge loss as the company takes the consumer-direct channel in a new direction.

Back when it acquired CashCall in 2015, Impac was banking on significant tax benefits due to loss carry-forwards that would offset net profits from CashCall.

“Impac believes that the centralized call center operations, combined with this technology, makes CashCall Mortgage a scalable retail origination platform that is able to close loans faster than competitors in a highly efficient manner,” Impac said at the time.

Source: Mortgage Daily