Impac exits wholesale lending

Reports indicate that Impac has decided to exit the wholesale lending arena.  They are keeping a small internal retail operation; but have ceased doing business via the broker channel.  This report is courtesy of the ml-implode.com premium email service; which I highly recommend subscribing to if you are interested in the latest news in the mortgage industry. There is no notification on the Impac broker site regarding this announcement.  However; several emails were forwarded to ml-implode.com noting the change in business models.