Impac Mortgage Corp., dba CashCall Mortgage
CashCall is one of the top rated mortgage lenders providing home loan solutions in 43 states across the country. In addition to conventional, FHA and VA loans, CashCall Mortgage is a leading provider of home loans for those with unique circumstances like non-traditional income, investors, consultants and freelancers. With a fast, streamlined process, we can close loans in under 20 days. Our team of experienced and licensed loan officers can help you select the right loan program for your specific needs. Be it a cash out refinance or a new home purchase, we have the products and the expertise to help you.
Vivian Nguyen has always been professional, responsive, polite, and a great loan officer to work with. And Cash Call Mortgage also gives very good refinance rates with little or no costs. We are happy to commend Vivian for her excellent work. Jim & Louise, Angelo Vorrises
By: James V.
I had been comparing different lenders, eventually deciding to settle on Better. I tried Cash Call to see what rate they could give me. They gave competitive terms and a great rate. However, Better matched, and I went with them.
Cash Call came across as being a total and complete mess. They were incredibly disorganized and their process is archaic--everything is done on the phone. I wasn't able to see progress, upload documentation, etc. Even their e-sign software seems like it's from Geocities.
When I informed the loan officer I was working with I was going to go with Better, he reacted not only negatively, but was rude and aggressive. Pressure doesn't work on me and some pushy loan officer isn't going to get my business.
Cash Call left me with no faith at all, and I feel like I dodged a bullet. I didn't sign anything--only went far enough to get my loan estimate. Even that was like pulling teeth.
Better is strongly recommended. Period.
From the start of our loan process until the new loan was finalized Frank and Any who processed the loan we could not have been more pleased with their efforts. They answered every question patiently and made sure we we're kept informed throughout the process. They also completed everything so that we could close ahead of schedule.
Frank was able to help me review my refinance with my current lender and save me time and money. By the time it took my lender to call me back from missed calls Frank and Tricia had my CD in my hands and we were closed!
Thank you team, I will be calling you again shortly!
Being a repeat client, i’m not hesitant to have Frank worked on our loans. He delivers what he promised and goes extra mile to meet our expectations. Very professional guy who really takes care of his client from the beginning to the end. Easy to work with and promptly replies to all our calls and concerns. Definitely, Frank is very knowledgeable and commendable.
CashCall Mortgage is a California-based mortgage lender. The company originated as CashCall, Inc. in 2003 as an online lender making personal and mortgage loans.
Twelve years later, Impac Mortgage Corp. acquired CashCall’s mortgage business and has since operated CashCall Mortgage as its direct-to-consumer home lender. In 2017, CashCall Mortgage originated $4.6 billion in mortgages, nearly two-thirds of the overall loan volume of the parent company.
As you do your research, it’s worth noting: CashCall Mortgage today is distinct from its former parent, CashCall, Inc. That company now focuses on personal lending.
CashCall operates in 46 states and the District of Columbia, but nearly 80% of its loan originations are in California, Washington and Arizona. CashCall Mortgage is not licensed to conduct business in Delaware, Massachusetts, Maine, Maryland, Wyoming or U.S. territories.
CashCall has four offices in California, but borrowers don’t visit branches. Instead, the company receives loan applications online or through a call center. Then CashCall’s nationwide network of loan agents works to process and issue loans.
CashCall Mortgage primarily issues conventional mortgages, usually fixed-rate loans with terms of 10, 15 or 30 years. In some cases, CashCall may issue 3%-down conventional mortgages, but these are only available for conforming loans, meaning their balances are less than $484,350. The smallest conventional loan available from CashCall is $75,000.
CashCall underwrites mortgages for condos, manufactured homes, single-family homes and multifamily properties up to four units. CashCall doesn’t underwrite loans for cooperative apartments, certain modular homes or properties with more than 25 acres.
However, CashCall Mortgage’s fastest growing segment is “non-qualifying” mortgage loans. These loans do not meet the underwriting standards for conventional mortgages and cannot be sold to Fannie Mae or Freddie Mac — usually because they’re larger than most loan standards, geared toward investors or issued to self-employed people with variable income. The lender issued nearly $900 million in non-qualifying mortgage loans in 2017.
For government programs, such as FHA and VA lending, CashCall Mortgage requires a 560 minimum credit score, which is higher than the usual FHA minimum of 500. CashCall does not manually underwrite loans.
All CashCall Mortgage products for home purchases come with a no-cost, 45-day rate lock. That means when you qualify, the quoted interest rate won’t change for at least 45 days.
CashCall Mortgage does not offer traditional home equity loan products.
CashCall’s mortgage process takes place primarily online, but a local loan officer will help if you need assistance.
Within three days of verifying your income, the value of the property and the loan amount, CashCall will issue a loan estimate. At that point, borrowers may lock in a rate. CashCall advertises a free 45-day rate lock on purchase transactions.
CashCall Mortgage operates as a call center. Borrowers complete a quick application online or over the phone with a call center representative. Once the application is complete, it is turned over to a loan agent. The loan agent will contact you over the phone or via email. In some cases, a CashCall employee called an initiator may work with you to help you reconnect with a loan agent if you made an inquiry about a mortgage but didn’t complete the application process.
The loan agent helps borrowers create an account at CashCall so they can upload documents to complete the loan application process. Any documentation that needs to be verified will be submitted via a secure online portal. Throughout the process, you can expect to speak to your loan agent over the phone or to communicate via email. Since CashCall has a call center model, your loan agent may not be at closing. Instead, your closing attorney may guide you through closing.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.
The information in this article is accurate as of the date of publishing.