Impac Mortgage Corp. Wholesale Jamboree Rd, Irvine

As an originator there are moments when my customers want a super low rate, so have to go out on a limb and find a lender with the lowest rate possible...but at the cost of questionable service once it is submitted for approval. And that's exactly how I ended up on the Impac Mortgage Review page. From the underwriter missing documents that were submitted, to asking for specific documents which were provided and then said to be unacceptable, to asking for conditions that misled us down a path to nowhere, they ended up putting one of our very wealthy repeat customers through hell and back for nearly 60 days...only to say they could not close their loan. Even when upper management stepped in and assured us they had a solution to fix what we feel should have never been an issue in the first place, that turned out to be a completely worthless solution for the customer. So almost 60 days into the process, after rates have spiked to where we cannot take the loan somewhere else, after we were told the loan could be done for a borrower, that in all reality any lender would welcome with open arms, they have failed in getting the loan approved and closed. Between an apparent lack of understanding of their investor guidelines as well as computer system limitations, it has been a long and painful process with horrible results. And although this is just a minor issue in comparison to all of the others we faced, the fact that they are one of the few lenders in existence who still require wet-signed copies of certain documents is unheard of in 2022. However, it lends itself to explaining why a computer system limitation was one of the issues that prevented us from getting a loan closed. At our company we will give new lenders we work with 1 chance to make an impression. If they do not perform, we do not send any business their way again. Needless to say, Impac failed at their one chance and we will not send anything to them again.

DO NOT USE THEM!!!! I had three loans with them. Aleksandra Pszczolka and Kathy Crawford were our loan agents and processors. We signed our final documents in March with a notary before covid, and waited for them to fund. They never did. Additionally, they never bothered to call us to let us know. After several calls and emails I finally got through to BRETT COCA, who said our loans are going to be transferred to AMERICAN FINANCIAL NETWORK. They were going to honor ALL terms from Cash Call. James Cook was our agent, and Mia Castillo was our loan processor. They assured me our loans would fund at the end of May. It is now June and crickets. We are highly qualified buyers, and both have credit scores above 780. This was their fault. We have moved on, but beware of them and don't waste your time.

Think long and hard about using Impac for a home mortgage. If you have time to burn then no worries. If you have any time constraints, Go elsewhere. When the corp, SR. management don't have voice mails set up it makes me think they are a fly by night organization.

I am satisfied with the service and overall cost.