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Impac Funding Introduces Enhanced Website for Static Pool Tracking of MBS Transactions |
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Featuring Lewtan Technologies’ ABS Discloser, providing Investors with Improved Deal Transparency |
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Contact: |
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George Henman Lewtan Technologies, Inc. 781-895-9800 www.lewtan.com |
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December 8, 2004, Waltham, MA – Lewtan Technologies today announced the launch of Impac Funding’s enhanced investor website now incorporating Static Pool Reporting functionality from ABS Discloser. ABS Discloser is Lewtan's proprietary application offering issuers of asset-backed securities improved deal transparency and marketability. Investors, credit enhancers and other market participants can now gain access to detailed, collateral-level performance data for more than 50 Impac Funding Corporation MBS transactions through the improved site. To access the site, individuals may go to www.impaccompanies.com and select “bondholder relations” through the menu navigation.
Impac Funding Corporation is the 4th largest Alt A mortgage originator and the 2nd largest MBS securitizer of Alt-A loans in the in the US. The company is an operating unit of Impac Mortgage Holdings, Inc., a residential mortgage real estate investment trust (“REIT”) with over $20.0 billion in assets. “The Impac Funding bondholder site is an invaluable tool, giving investors and other parties the ability to slice and dice current and historical Impac deal performance data using ABS Discloser’s robust analytics,” said Mark Aarvig, Securitization Structuring Analyst of Impac Funding. “This site also reduces the number of data inquiries from outside parties, while providing detailed product insight to Impac securitization staff.” Custom developed and hosted for issuers, ABS Discloser (www.ABSDiscloser.com) sites provide greater insight to the investor community, maximizing the number of potential investors while providing timely, accurate data. Issuers also may choose to use ABS Discloser sites for internal reporting and analysis purposes, consolidating reporting from multiple sources and divergent processes. “We are very pleased that Impac Funding has chosen ABS Discloser’s powerful Static Pool Reporting feature,” said Stuart Lewtan, CEO of Lewtan Technologies. “Transparent access to detailed ABS/MBS information helps issuers like Impac Funding strengthen relationships with existing investors and attract new ones, while staying ahead of potential new SEC ABS rules.” With growing pressure from the market and the SEC for availability of both aggregate and static pool data to investors, ABS Discloser is equipped to handle static pool analysis. This functionality reveals how delinquencies, losses and prepayments develop over time for a discrete group of loans. The application provides a dynamic capability to drill down into different aggregations of loan-level data and view statistics based on user-defined parameters. ABS Discloser sites also help issuers track credit performance over time and identify risk areas within each pool of actively serviced assets. Controlled dissemination of detailed performance data minimizes funding costs while maximizing returns from securitization. ABS Discloser is part of a growing set of cutting-edge products, including the industry-leading ABS surveillance database, ABSNet, as well as the ABS System (formerly called Issuer Suite), the industry’s most powerful tool for managing all aspects of a securitization program. About Lewtan Technologies Lewtan Technologies, Inc. © is the leading provider of information and technology solutions to the global asset securitization industry. More than 250 institutions rely on Lewtan Technologies' solutions such as ABSNet (www.ABSNet.net), now the leading resource for ABS intelligence and surveillance in the global market. Lewtan also provides new European Cash Flow Models on ABSNet for multi-scenario deal analysis. ABS Discloser provides issuers with improved deal transparency and marketability, while Lewtan’s Issuer Suite automates an issuer's securitization administration and reporting process. In 2001, Lewtan and Deutsche Bank Corporate Trust launched iCDO, a full-service, Web-based transaction management system for issuers of collateralized debt obligations (CDO's). Lewtan Technologies has twice been awarded the International Securitisation Report’s “Global Technology Provider of the Year” award. More information is available at www.Lewtan.com. About Impac Mortgage Holdings Impac Mortgage Holdings, Inc. [NYSE: IMH] is a residential mortgage real estate investment trust (“REIT”) which together with our subsidiaries and affiliate are a nationwide acquirer and originator of Alt A residential mortgage loans. Today, we have over $20.0 billion in assets and enjoy tremendous synergies from our operating businesses including our warehouse lending operations, Impac Warehouse Lending Operations, ranked as the 15th largest in the nation and our mortgage operations, Impac Funding Corporation, which has become the 4th largest Alt A originator and the 2nd largest securitizer of Alt- A loans in the in the nation. Our goal is to generate consistent, reliable dividends primarily from earnings from our core businesses and through stringent management of interest rate and credit risk. Year to date (9/30/2004), including dividends, the Company has delivered to its shareholders a 54% total return on investment and 767% since its inception in 1995. www.ABSNet.net |
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