Quarterly home lending sank by over a fourth at Impac Mortgage Holdings Inc. and is likely plunging during the current quarter.

Before income taxes, the Irvine, California-based organization earned $17 million during the three months ended Dec. 31, 2016.

Those details, along with other operational and financial results, were presented in Impac’s fourth-quarter 2016 earnings report.

Source: Mortgage Daily