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Multifamily / Commercial Lending

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Impac Commercial Capital Corporation (ICCC) has been one of the country’s top non-bank originators and securitizers of full-recourse, portfolio-style small balance commercial and multifamily real estate loans.  In 2006, ICCC was ranked by the MBA as the 6th largest originator of small balance loans nationally with $1 Billion in new originations.

The current ICCC portfolio retains approximately 1,550 loans with a principal balance of more than $1.5 billion.  The current strategy for ICCC has focused primarily on loss mitigation.   These strategies include working closely with ICCC’s sub-servicer and special servicers to identify high risk loans which may be candidates for modification, assumption or disposition.

Core approaches

Modifications
We actively monitor property cash flow of certain properties that have a higher degree of risk.  Under this program, we proactively contact these customers directly to access their individual circumstances and the need for a potential modification.

Assumptions
We actively market our Assumption Program directly to our customer base to raise the awareness and availability of the program. Assumptions provide an excellent alternative to seeking new financing in this more difficult credit environment.

Dispositions
With increased flexibility through our special servicer relationship, ICC has become more actively involved in structured property dispositions.  This may include listing, marketing or direct sales of certain properties to maximize recoveries.

ICCC has commenced new originations of multifamily properties on a selected basis with loan sizes ranging between $1 Million and $10 Million with anticipation of increases soon.

For Impac Commercial Capital Corporation:
William D. Endresen
949.475.3793
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Press Release