Did anyone take note of who the preferred lender is for the auction? Why, it’s none other than Impac.
Impac released earnings today. Scroll down to Market Conditions and you’ll find this nugget.
In light of the continued and widely publicized volatility in the secondary and securitization markets, we have suspended funding on loans previously referred to as Alt-A loans and currently do not have any plans to originate these types of loans in the near future.
The buying pool may have just been reduced.
This was pointed out by commenter Cal at Calculated Risk.
