M2 PRESSWIRE-23 February 2007-Large Cap News: Investor Alert for Impac Mortgage Holdings Inc.(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:23022007

Impac Mortgage Holdings buys the loans that Fannie and Freddie don't want. This real estate investment trust (REIT) primarily invests in nonconforming residential mortgage loans, second mortgages, and mortgage-backed securities. Focusing on loans that do not qualify for purchase by federal agencies like Fannie Mae and Freddie Mac, the REIT both originates loans and buys them from third parties. Subsidiary Impac Funding buys nonconforming home mortgage loans and sells them to its parent company or other long-term investors. Impac ...