Impac Mortgage Holdings Inc. expanded its servicing portfolio and had a quarter-over-quarter gain in originations. But earnings deteriorated.
In its third-quarter 2017 earnings report, the Irvine, California-based company disclosed net earnings before income taxes of $4 million.
Income plummeted from $16 million earned in the same-three months last year. It was also worse than $7 million during the preceding three-month period.
Source: Mortgage Daily