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Fly News Breaks for September 7, 2018
IMH
Sep 7, 2018 | 07:04 EDT
As previously reported, JMP Securities analyst Trevor Cranston downgraded IMPAC Mortgage to Market Perform from Outperform, stating that he expects the current challenging residential mortgage origination environment persisting due to competitiveness amongst originators in a low volume market. While he still views the non-QM origination business as attractive, Cranston believes the operating losses currently being generated by agency and government originations will offset much of this upside potential over the near-to-intermediate term, he tells investors.
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