Impac mortgage holdings inc (IMH)
CashFlow / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) earnings

-

-

-

-

-

-

-

-

-

2,317

6,440

4,627

16,941

16,497

12,251

981

10,709

19,308

16,810

33,972

-2,237

-1,201

82

-2,966

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-677

1,439

3,873

-12,612

-6,440

-45,445

-97,398

3,873

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,716

-4,948

1,291

-675

-330

-2,067

4,447

-4,554

826

2,946

181

-1,302

(Gain) loss on sale of mortgage servicing rights

-4

0

-1

865

-

-

-

-2

-3

-8

332

-414

-78

-7,531

-2,459

-620

-1,853

-471

-2,248

-3,474

-275

206

1,198

-16

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of mortgage servicing rights

-357

9,754

9,886

6,488

370

5,445

-392

-9,180

17,866

11,177

7,739

1,122

-7,660

8,224

12,904

10,920

2,956

4,347

542

3,094

1,301

1,205

2,762

961

-3,517

93

-1,849

-1,217

-269

494

632

-257

234

-140

-65

99

Losses (gains) from REO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,081

416

-3,676

-2,346

-3,210

3,465

-3,578

3,912

9,427

4,732

6,867

739

4,249

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-423

-

-

-

-

Gain on sale of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,208

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of mortgage loans

32,035

20,054

20,962

10,984

16,757

24,088

18,915

28,851

29,679

43,868

30,607

31,595

96,489

101,884

72,694

38,118

47,410

87,027

9,359

19,192

7,842

7,080

4,313

4,433

8,672

10,535

23,704

18,832

28,477

18,716

11,722

8,650

5,140

4,296

1,926

90

Change in fair value of mortgage loans held-for-sale

-

-

-

3,469

-

-

-

-4,891

105

-1,336

4,395

5,203

-19,594

5,300

3,087

11,185

-8,626

6,678

-8,559

10,911

1,754

2,294

2,270

539

-2,550

5,326

-5,536

-135

-3,339

4,220

3,361

-533

1,430

284

363

625

Change in fair value of derivatives lending, net

-2,296

2,202

5,175

-609

-1,685

-6

1,396

-1,815

-8,222

1,498

590

79

-12,811

5,740

3,702

5,176

-1,839

955

-68

7,868

-197

85

423

-338

1,833

-5,676

3,064

-1,018

-

-

1,233

1,119

-

-

-

-

Provision (recovery) for repurchases

-

-

-

-

-

-

-

-

-

-1,766

-92

1,666

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for repurchases

1,869

458

1,530

1,630

-361

3,841

1,216

378

-

-

-

-

-399

-73

472

379

672

-980

449

871

651

1,088

255

259

355

413

591

391

610

596

290

293

175

128

105

117

Origination of mortgage loans held-for-sale

-

1,636,326

821,350

581,509

-

853,152

1,034,245

1,320,128

1,653,827

2,084,301

1,793,587

1,580,019

3,110,587

4,217,048

3,247,371

2,349,246

1,938,627

2,303,250

2,604,267

2,412,206

1,108,277

922,436

466,158

348,623

510,569

566,144

762,578

654,593

789,276

695,830

518,984

354,033

335,122

252,359

219,303

53,444

Sale and principal reduction on mortgage loans held-for-sale

1,796,331

1,047,447

886,577

487,207

634,966

1,001,233

1,220,710

1,246,881

1,673,777

2,128,335

1,658,479

1,558,851

3,612,117

4,117,508

3,220,145

2,077,141

2,106,043

2,303,961

2,715,092

2,127,743

1,100,862

808,652

447,728

379,189

508,497

636,638

726,262

649,154

835,269

675,717

482,883

362,498

327,882

254,598

205,083

26,554

Losses from trust REO

-2,586

-2,749

-4,572

3,473

-904

-649

-1,590

2,193

-1,059

2,733

4,218

1,533

37

-1,440

-3,391

-1,140

-1,696

-2,436

207

-2,670

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of net trust assets, excluding trust REO

-1,379

1,025

3,113

-6,156

1,591

-666

1,807

-4,331

694

-4,479

-2,213

4,786

-2,926

2,839

6,178

1,256

44

394

1,651

2,932

5,872

1,459

3,179

-1,852

391

-2,426

-1,292

-2,923

1,771

-3,847

7,712

10,167

15,317

21,723

18,020

21,950

Change in fair value of long-term debt

2,387

-304

-389

-265

-3,281

784

-257

-1,224

292

-104

264

2,497

-

-

-

-

0

0

1,545

7,116

3,590

0

-226

650

234

-74

478

49

-273

-190

-775

93

-

-

-

-

Change in fair value of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,459

405

238

Accretion of interest income and expense

8,392

5,112

6,356

7,412

6,309

6,582

6,013

14,531

17,114

20,961

22,564

25,550

30,562

30,825

31,565

33,646

36,721

34,845

37,504

39,051

43,391

43,669

44,352

49,066

50,523

52,911

55,323

56,896

60,276

63,368

67,273

69,553

71,791

79,679

84,203

87,158

Amortization of intangible and other assets

143

143

143

143

523

899

1,192

1,193

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in REO impairment reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

-2,458

-3,849

-369

-2,469

-2,453

385

2,918

5,765

7,070

7,785

4,807

6,387

5,556

10,305

Amortization of intangible and other assets

-

-

-

-

-

-

-

-

-

1,192

1,192

1,192

1,192

1,192

1,193

1,192

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of contingent consideration

-

-

-

-

-

-

-

-

110

396

707

845

1,753

1,591

1,758

1,895

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of contingent consideration

-

-

-

-

-

-

-

-

-2,274

-4,798

-6,793

539

-4,424

23,215

8,412

2,942

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt issuance costs and discount on note payable

3

3

3

8

21

21

20

21

21

21

24

100

42

116

71

211

86

111

57

80

17

7

12

12

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

141

206

206

107

137

211

169

430

576

993

479

500

484

757

442

448

537

563

269

244

544

567

420

390

626

529

411

405

248

67

67

67

112

74

72

76

Impairment of deferred charge

-

-

-

-

-

-

-

-

267

71

244

276

463

200

191

424

504

421

324

309

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share based compensation

-

-

-

-

-

-

-

-

379

0

0

-12

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred tax assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

24,420

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-3,957

1,648

3,502

1,304

-2,355

1,989

-1,092

2,512

557

-44

449

-9

-365

337

-1,297

-438

629

67

1,130

-3,615

104

379

2,029

1,012

Net change in other assets

-2,144

-7,027

4,012

-3,241

6,637

3,815

-2,092

3,835

-13,527

10,563

4,216

-2,046

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in other liabilities

-6,668

2,961

-1,184

-7,553

-1,680

-462

-1,941

-949

-18,821

12,982

3,905

-15,871

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

89

-

-

-

-

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-589

-944

-1,764

-4,897

-382

7,510

1,966

26

-428

-861

-748

-1,076

Net change in other assets and liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,629

-

1,086

-1,853

-7,880

-5,582

3,783

-956

2,774

268

-5,797

5,057

-2,996

-2,526

-747

-80

-2,459

2,259

-1,381

-3,799

1,741

Net cash (used in) provided by operating activities

270,036

-591,887

52,097

-107,729

-15,581

135,097

169,467

-88,014

5,163

38,169

-139,131

-42,181

480,565

-115,328

-29,044

-270,717

167,882

-48,923

165,242

-253,537

25,477

-83,329

17,866

69,967

34,403

115,007

-5,537

30,596

78,174

24,265

9,563

62,511

43,063

57,939

46,105

26,470

CASH FLOWS FROM INVESTING ACTIVITIES:
Net change in securitized mortgage collateral

132,631

137,934

171,170

123,865

147,497

159,082

131,169

116,205

124,972

141,083

183,645

182,824

158,781

173,317

156,637

131,109

169,889

176,903

157,870

144,792

182,668

146,741

160,993

144,312

155,906

197,159

184,375

201,714

146,058

185,006

172,612

136,934

162,424

159,759

192,202

178,988

Proceeds from the sale of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-277

10,512

12,370

5,783

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-332

-481

-

541

-6,314

620

-

471

-9,985

-13,565

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance receivable advances to customers

-

-

-

-

0

51,093

184,596

165,668

195,498

279,654

250,954

183,613

255,353

286,916

234,565

151,404

141,545

185,537

213,262

124,206

38,445

18,621

17,103

2,148

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of finance receivables

-

-

-

-

731

87,577

174,370

180,456

214,633

277,458

229,794

208,994

271,069

264,651

220,356

145,593

146,511

198,516

212,289

79,224

34,421

18,261

13,977

1,300

-

-

-

-

-

-

-

-

-

-

-

-

Net change in mortgages held-for-investment

-

-

-

-

-

-

-

-

-

-

-

-

1

1

0

44

0

1

2

43

1

3

1

2

5

-43

-18

1

-

2

1

3

-

-66

2

3

Purchase of premises and equipment

208

319

201

134

197

140

421

109

6

64

108

291

119

65

21

61

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of mortgage-backed securities

0

4,999

0

5,347

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of premises and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

-7

22

-178

172

306

62

108

80

31

33

-129

234

27

351

Net principal change on investment securities available-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

0

0

35

12

7

25

17

41

12

18

35

11

15

11

12

34

15

50

48

69

20

51

54

56

Acquisition of CashCall Mortgage

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,500

0

0

5,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of trust REO

8,519

4,678

5,020

5,587

5,501

4,785

5,789

5,418

4,923

8,235

9,065

6,859

9,687

9,335

12,711

10,229

8,877

9,525

8,512

6,173

8,622

9,199

9,456

9,011

5,371

10,986

16,227

13,119

14,335

28,885

24,472

26,763

27,634

32,162

35,367

49,736

Proceeds from the sale of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

10,200

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by investing activities

151,423

137,282

177,022

123,971

265,408

199,711

126,311

136,302

149,030

147,052

166,156

215,254

185,750

159,782

161,467

134,902

225,287

198,806

175,662

114,632

187,002

166,110

179,736

168,449

161,464

207,563

203,394

214,806

169,094

213,863

197,102

163,736

190,268

192,184

227,598

228,432

CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-74

42,762

2,764

2,079

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of term financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,500

-

-

-

-

Repayment of MSR financing

-

-

-

-

87,000

10,000

15,000

25,133

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under MSR financing

-

-

-

-

25,000

10,000

32,000

35,000

10,000

15,000

0

35,133

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of warehouse borrowings

1,553,371

1,059,620

727,480

405,840

581,383

941,012

1,150,967

1,204,301

1,679,133

1,990,331

1,575,065

1,498,519

3,330,102

3,944,922

3,050,124

1,993,732

1,941,700

2,199,640

2,663,311

2,021,096

1,050,110

805,519

397,358

358,079

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under warehouse agreements

1,283,339

1,668,242

685,690

526,466

550,368

773,617

983,172

1,279,280

1,662,913

1,969,344

1,745,803

1,519,778

2,870,564

4,125,656

3,125,373

2,292,244

1,789,643

2,254,791

2,533,340

2,346,871

1,055,458

915,662

416,851

330,179

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,000

7,000

5,000

12,750

4,500

6,000

8,000

0

4,500

1,000

9,750

6,500

2,750

5,500

-

-

-

-

Borrowings under line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

7,000

9,000

8,750

4,500

7,000

11,000

0

1,500

4,000

5,750

6,500

6,750

1,500

-

-

-

-

Repayment of short-term borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,000

5,000

-

-

-

-

481,609

599,629

676,683

606,758

750,449

648,794

465,449

350,228

318,561

247,089

202,084

25,675

Repayment of term financing

-

-

-

-

-

-

-

-

0

0

0

30,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of acquisition related contingent consideration

-

-

-

-

0

0

0

554

3,098

4,708

3,486

7,958

26,153

14,896

8,956

4,144

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,000

5,000

-

-

-

-

486,808

536,786

726,997

626,118

726,328

681,913

508,605

346,952

330,304

248,120

213,735

55,884

Repayment of securitized mortgage borrowings

-151,592

-149,942

-184,222

-137,272

-160,255

-171,359

-142,752

-136,444

-147,130

-169,361

-214,035

-211,895

-199,254

-213,871

-200,083

-174,436

-213,690

-221,301

-203,916

-189,288

-230,791

-197,492

-213,922

-202,294

-209,562

-260,825

-255,820

-268,993

-214,352

-268,500

-253,531

-220,239

-246,289

-250,955

-287,346

-287,146

Principal payments on capital lease

0

0

32

49

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on short-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4,156

1,844

-

-

-

-

20

60

1,975

1,396

1,256

1,060

1,170

6,457

-

-

-

-

Principal payments on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,826

Principal payments on capital lease

-

-

-

-

48

48

47

59

75

75

73

101

110

118

122

153

165

215

204

197

184

182

182

188

222

265

148

134

33

46

102

91

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

0

0

0

100

-

-

-

-

0

0

450

50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax payments on stock based compensation awards

0

20

0

39

2

30

110

3

14

238

82

21

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

0

182

0

163

25

114

303

16

23

274

266

30

-

-

-

-

330

357

215

71

4

1

14

18

24

8

7

136

1,175

50

7

9

-

-

-

-

Net cash used in financing activities

-421,499

458,842

-226,044

-16,571

-253,295

-338,717

-293,401

-52,198

-156,514

-180,095

-16,218

-193,653

-685,121

-5,288

-131,139

121,858

-371,269

-173,526

-312,387

134,467

-215,683

-91,530

-194,597

-229,364

-201,581

-323,993

-190,881

-248,027

-242,587

-236,437

-207,640

-226,554

-234,398

-250,347

-272,506

-258,763

Net change in cash, cash equivalents and restricted cash

-40

4,237

3,075

-329

-3,468

-3,909

2,377

-3,910

-2,321

5,126

10,807

-20,580

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-18,806

39,166

1,284

-13,957

21,900

-23,643

28,517

-4,438

-3,204

-8,749

3,005

9,052

-5,714

-1,423

6,976

-2,625

4,681

1,691

-975

-307

-1,067

-224

1,197

-3,861

NON-CASH TRANSACTIONS:
Transfer of securitized mortgage collateral to trust REO

5,807

8,344

7,210

5,825

5,332

6,587

5,667

4,835

3,433

5,325

7,775

2,267

6,987

10,781

11,405

10,533

10,164

11,571

9,007

9,729

9,867

7,054

7,431

9,025

11,662

4,873

9,756

11,933

10,855

7,163

10,131

22,002

22,699

21,315

28,369

25,735

Mortgage servicing rights retained from issuance of mortgage backed securities and loan sales

269

223

416

1,583

2,406

5,717

6,274

10,482

13,321

17,855

12,807

12,066

36,464

40,890

32,097

18,822

21,984

23,385

30,363

22,371

12,150

8,913

4,562

3,763

4,607

5,894

6,412

4,863

-

-

-

-

-

-

-

-

Recognition of operating lease right of use assets (net of $3.8 million of deferred rent)

844

0

0

19,694

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Recognition of operating lease liabilities

844

0

0

23,447

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related goodwill asset related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

104,586

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related intangible assets related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

33,122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related contingent consideration liability related to CashCall

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

124,592

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued upon legal settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

1,501

936

1,012

625

0

1,035

1,100

-

-

-

-

-

-

-

-

Common stock issued related to CashCall acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,150

6,150

6,150

6,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of equipment purchased through capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

413

-

-

-

-

-

-

-

-

315

0

0

199

-

-

-

-

Common stock issued upon conversion of debt

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

20,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in ownership of AmeriHome

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

865

0

46

-

-

-

-

-

-

-

-