Impac Mortgage Holdings, Inc. Announces Appointment of Thomas B. Akin to Board of Directors
May 24 2017 - 4:01PM
Impac Mortgage Holdings, Inc. (NYSE MKT:IMH) (the “Company” or
“Impac”) announced today that Thomas B. Akin has been appointed to
the Company’s Board of Directors, effective May 23, 2017, bringing
the total number of directors to seven.
Mr. Akin has been managing partner of the Talkot
Fund for 20 years and has served on several boards in several
capacities. Most recently, Mr. Akin held various positions at
Dynex Capital, Inc. (NYSE:DX) in his almost 14 years
there. The Talkot Fund focuses on financial
institutions and was recently a participant in the $56 million
capital raise by Impac. Mr. Akin also currently sits on the
board of directors of Mobivity Holdings Corp. Mr. Akin holds an
undergraduate degree from UC Santa Cruz and an MBA in Finance from
UCLA.
Commenting on his appointment, Mr. Akin stated, "I'm pleased to
join Impac and hope to contribute in maximizing the opportunity
currently present for shareholders. In particular, I believe
that the current growth of NonQM originations represents a
tremendous business opportunity for which Impac is uniquely
positioned.”
“It’s a great pleasure to welcome Tom to the Impac
Board of Directors,” said Joe Tomkinson, Chairman and Chief
Executive Officer of the Company. “Based on his previous
positions as an executive officer and director at several large
financial institutions and his position as managing member at
Talkot Capital, we believe Mr. Akin brings deep experience and
expertise in investing in the financial and investment
industries.”
About the Company
Impac Mortgage Holdings, Inc. (IMH or Impac) provides innovative
mortgage lending and warehouse lending solutions, as well as real
estate solutions that address the challenges of today’s economic
environment. Impac’s operations include mortgage and
warehouse lending, servicing, portfolio loss mitigation and real
estate services as well as the management of the securitized
long-term mortgage portfolio, which includes the residual interests
in securitizations.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements, some of which are based on various assumptions and
events that are beyond our control, may be identified by reference
to a future period or periods or by the use of forward looking
terminology, such as “may,” “capable,” “will,” “intends,”
“believe,” “expect,” “likely,” “potentially” ”appear,”
“should,” “could,” “seem to,” “anticipate,” “expectations,” “plan,”
“ensure,” or similar terms or variations on those terms or the
negative of those terms. The forward-looking statements are based
on current management expectations. Actual results may differ
materially as a result of several factors, including, but not
limited to the following: failure to achieve the benefits
expected from the acquisition of the CCM operations, including an
increase in origination volume generally, increase in each of our
origination channels and ability to successfully use the marketing
platform to expand volumes of our other loan products; successful
development, marketing, sale and financing of new and existing
financial products, including expansion of non-Qualified Mortgage
originations and conventional and government loan programs; ability
to successfully diversify our mortgage products; volatility in the
mortgage industry; unexpected interest rate fluctuations and margin
compression; our ability to manage personnel expenses in relation
to mortgage production levels; our ability to successfully use
warehousing capacity; increased competition in the mortgage lending
industry by larger or more efficient companies; issues and system
risks related to our technology; ability to successfully create
cost and product efficiencies through new technology; more than
expected increases in default rates or loss severities and mortgage
related losses; ability to obtain additional financing through
lending and repurchase facilities, debt or equity funding,
strategic relationships or otherwise; the terms of any
financing, whether debt or equity, that we do obtain and our
expected use of proceeds from any financing; increase in loan
repurchase requests and ability to adequately settle repurchase
obligations; failure to create brand awareness; the outcome,
including any settlements, of litigation or regulatory actions
pending against us or other legal contingencies; and our compliance
with applicable local, state and federal laws and regulations and
other general market and economic conditions. For a
discussion of these and other risks and uncertainties that could
cause actual results to differ from those contained in the
forward-looking statements, see the annual and quarterly reports we
file with the Securities and Exchange Commission. This document
speaks only as of its date and we do not undertake, and
specifically disclaim any obligation, to release publicly the
results of any revisions that may be made to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements.
For additional information, questions or comments, please call
Justin Moisio, VP Business Development & Investor Relations at
(949) 475-3988 or email Justin.Moisio@ImpacMail.com. Web site:
http://ir.impaccompanies.com or www.impaccompanies.com