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home / news releases / IMH - Impac Mortgage stock drops 24% after Q4 operating earnings plummet

IMH - Impac Mortgage stock drops 24% after Q4 operating earnings plummet

Impac Mortgage Holdings Inc.
Impac Mortgage Holdings (IMH) stock falls 24% after Q4 operating earnings plunged from Q3 as total expenses swelled while revenue was little changed.Q4 core EPS of 16 cents falls from 21 cents in Q3 and increased from 8 cents in Q4 2019.Q4 total revenue of $20.0M compares with $19.5M in Q3 and $30.4M in the year-ago quarter.Q4 total expenses of $19.9M increased from $16.1M in Q3 and declined from $27.4M a year ago; included in that G&A and other expenses increased to $6.12M, up from $4.83M in the prior quarter and down slightly from $6.28M a year earlier.Q4 operating earnings of $74,000 vs. $3.36M in Q3 and $2.99M in Q4 2019.Impac's mortgage servicing portfolio fell to $30.5M from $4.9B at Dec. 31, 2019, reflecting the sale of $4.2B in unpaid principal balance of Freddie Mac and GNMA MSRs in Q2 and Q3 of 2020.Q4 total originations of $810.0M rose from $418.5M in

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Impac Mortgage stock drops 24% after Q4 operating earnings plummet
Stock Information
Company Name: Impac Mortgage Holdings Inc.
Stock Symbol: IMH
Market: NYSE
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