Impac Mortgage Holdings Sells AmeriHome Mortgage Corporation

Impac Mortgage Holdings

today announces the sale of its fully licensed and agency approved seller/servicer subsidiary, AmeriHome Mortgage Corporation (“AmeriHome”). This transaction is expected to close early in the first quarter of 2014 at a significant gain. The sale is subject to change of control requirements by the state, and government agencies including Fannie Mae, Freddie Mac and Ginnie Mae. The transaction includes the sale of AmeriHome's primarily agency servicing portfolio of approximately $700 million in unpaid principal balance, but will not affect the ongoing operations of Excel Mortgage Servicing, Inc., dba Impac Mortgage, the Company's nationally licensed mortgage originator that is also a Fannie Mae, Freddie Mac, and Ginnie Mae approved seller/