American Banker (07/17/08) P. 15; Colter, Allison Bisbey
UBS AG and Impac Mortgage Holdings Inc. are forming a strategic alliance, with Impac taking control of a special servicing platform from UBS, to which it will contribute an unspecified amount of mortgages. Additionally, the deal involves UBS receiving warrants to purchase as much as 2 percent of Impac's stock, following a recent deal providing warrants for 7 percent of the real estate investment trust's stock and the conversion of a line of credit into a 12-month loan to prevent additional margin calls.
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