Irvine-based Impac Mortgage Holdings Inc. agreed to acquire the mortgage operations of CashCall Inc. Terms were not disclosed.
Anaheim-based CashCall is expected to continue operations of its consumer- and business-loans units. Its mortgage division has been ranked by the Mortgage Bankers Association as one the largest residential mortgage originators in the U.S. It had about $6.5 billion in total originations in 2013, the latest figure available.
Impac said the deal is expected to add “a centralized retail call center” and “significant retail direct origination volume” to its business. Impac had about $31.2 million in revenue and net loss of $8 million in 2013.
Financial details of privately held CashCall weren’t available.
