<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
---------
IMPAC MORTGAGE HOLDINGS, INC.
--------------------------------------------------------
(Name of Issuer)
COMMON STOCK $0.01 PAR VALUE
--------------------------------------------------------
(Title of Class of Securities)
45254P-10-2
--------------------------------------------------------
(CUSIP Number)
HOWARD AMSTER, 23811 CHAGRIN BLVD #200,
BEACHWOOD OH 44122-5525 (216) 595-1047
--------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
3/30/00
--------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / /.
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(Continued on following page(s))
Page 1 of Pages
---
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 878800
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 98700
--------------------------------------------------
(9) Sole Dispositive
Power 878800
--------------------------------------------------
(10) Shared Dispositive
Power 98700
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
1027500
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
4.801
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING CO
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 52500
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 52500
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
26000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.12%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
AMSTER TRADING CO CHARITABLE REMAINDER UNITRUST
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
AF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 26500
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 26500
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
26500
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.12%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
WILLIAM N COSTARAS
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) / /
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 4000
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 26500
--------------------------------------------------
(9) Sole Dispositive
Power 4000
--------------------------------------------------
(10) Shared Dispositive
Power 26500
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
30500
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.14%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
TAMRA F GOULD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 17000
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 17000
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
17000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.079%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
PLEASANT LAKE APTS CORP
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 23000
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 23000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
23000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.11%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
PLEASANT LAKES APTS LTD PARTNERSHIP
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 23000
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 23000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
23000
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.11%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
SONIA AMSTER FAMILY LTD PARTNERSHIP
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
00
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 23200
--------------------------------------------------
(9) Sole Dispositive
Power
--------------------------------------------------
(10) Shared Dispositive
Power 23200
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
23200
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.11%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 13D Page of Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
RAMAT SECURITIES LTD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
WC
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 99700
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power
--------------------------------------------------
(9) Sole Dispositive
Power 99700
--------------------------------------------------
(10) Shared Dispositive
Power
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
99700
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
0.467%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
BD
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*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP 45254P-10-2
<TABLE>
<S> <C>
Item 1. Security and Issuer IMPAC MORTGAGE HOLDINGS, INC.
1401 Dove Street, Newport Beach, California 92660
Joseph R. Tomkinson, Chairman/CEO
(949) 475-3600
</TABLE>
Item 2. Identity and Background
Howard Amster and Tamra F. Gould are husband and wife. Each has independent
assets and each disclaims any beneficial ownership in the other's assets.
Howard Amster is a 99% owner of Amster Trading Company and as such can be
deemed the beneficial owner of such entity and may be deemed to have shared
voting and dispositive power over shares owned by Amster Trading Company.
Howard Amster is a 100% owner of Pleasant Lake Apts Corp and as such can be
deemed the beneficial owner of such entity and may be deemed to have shared
voting and dispositve power over shares owned by Pleasant Lake Apts Ltd
Partnership. Pleasant Lake Apts Corp is the General Partner of Pleasant Lake
Apts Ltd Partnership.
Howard Amster is a 83% owner of Ramat Securities Ltd. Howard Amster can be
deemed to be a beneficial owner of any securities owned by Ramat Securities
Ltd. but because he does not control the voting or dispositive power of any
securities owned by Ramat Securities Ltd., Mr. Amster disclaims shared voting
power and shared dispositive power of those shares.
Howard Amster is a General Partner of the Sonia K. Amster Family Ltd
Partnership and as such can be deemed to be the beneficial owner of such
entity and may be deemed to have shared voting and dispositive power over
shares owned by the Sonia K. Amster Family Ltd Partnership.
Amster Trading Company Charitable Remainder Unitrusts have been 100% funded
by Amster Trading Company. Because Amster Trading Company has the right to
change the trustee of the trusts, it can be deemed to have the right to
shared voting and dispositive power over any security owned by the trusts.
While Amster Trading Co receives certain income distributions from the
trusts, the assets owned by the trusts benefits charitable purposes. Amster
Trading Company disclaims beneficial ownership of the securities owned by
these trusts. William N. Costaras is sole trustee of the Amster Trading
Company Charitable Remainder Unitrusts although he has no pecuniary interest
in the Trusts and therefore disclaims beneficial ownership of the shares
owned by the Trusts. Terry Financial Company, Mr. Costaras's 100% owned
corporation also owns stock of the Registrant, but disclaims to be a part of
the group filing of this Schedule 13D.
a) Howard Amster
b) 25812 Fairmount Blvd, Beachwood, Ohio 44122
c) Present principal occupation-Financial Advisor, First Union
Securities Securities Brokerage Firm-23811 Chagrin Blvd #200, Beachwood,
Oh 44122
d) Howard Amster has not been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any)within the
last five years.
e) Howard Amster has not been a party to any civil proceedings of a
judicial or administrative body of competent jurisdiction of the type
described in Item 2 of Schedule 13D within the last five years.
<PAGE>
f) USA
a) Tamra F. Gould
b) 25812 Fairmount Blvd, Beachwood, Ohio 44122
c) Present principal occupation-Securities Trader, Tamar Securities, a
Broker Dealer-23811 Chagrin Blvd #200, Beachwood, Ohio 44122
d) Tamra F. Gould has not been convicted in any criminal proceedings
(excluding traffic violations or similar misdemeanors, if any) within the
last five years.
e) Tamra F. Gould has not been a party to any civil proceedings of a
Judicial or administrative body of competent jurisdiction of the type
Described in Item 2 of schedule 13D within the last five years.
f) USA
Amster Trading Company, 25812 Fairmount Blvd, Beachwood, Ohio 44122
Investments
d) Neither the officers, directors, or shareholders of Amster Trading
Company have been convicted in any criminal proceedings (excluding traffic
violations or similar misdemeanors, if any) within the last five years.
e) Neither the officers, directors or shareholders of Amster Trading
Company have been a party to any civil proceedings of a judicial or
administrative body of competent jurisdiction of the type described in
Item 2 of Schedule 13D within the last five years.
Amster Trading Company Charitable Remainder Unitrusts
22674 Halburton Road, Beachwood, Ohio 44122
Charitable Remainder Unitrusts
d) Neither the trusts or the trustee of the Amster Trading Company
Charitable Remainder Unitrusts have been convicted in any criminal
proceedings (excluding traffic violations or similar misdemeanors, if
any) within the last five years.
e) Neither the trusts or the trustee of the Amster Trading Company
Charitable Remainer Unitrusts have been a party to any civil proceedings
of a judicial or administrative body of competent jurisdiction of the
type described in Item 2 of Schedule 13D within the last five years.
a) William N. Costaras, as trustee of Amster Trading Company
Charitable Remainder Unitrusts
b) 22674 Halburton Road, Beachwood, Ohio 44122
c) Present principal occupation-Financial Advisor, First Union
Securities, brokerage firm, 23811 Chagrin Blvd #200, Beachwood, Oh 44122
d) William N. Costaras has not been convicted in any criminal
proceedings (excluding traffic violations or similar misdemeanors, if
any) within the last five years.
e) William N. Costaras has not been a party to any civil proceedings
of a judicial or administrative body or competent jurisdiction of the
type described in Item 2 of schedule 13D within the last five years.
f) USA
a) William Costaras as sole shareholder of Terry Financial Company
b) 22674 Halburton Road, Beachwood, Ohio 44122
c) Present Principal occupation-financial advisor, First Union
Securities, brokerage Firm, 23811 Chagrin Blvd #200, Beachwood, Ohio
44122
d) Neither the officers, directors, or shareholders of Terry Financial
Company have been convicted in any criminal proceedings (excluding traffic
violations or similar misdemeanors, if any) within the last five years.
e) Neither the officers, directors or shareholders of Terry Financial
Company have been a party to any civil proceedings of a judicial or
administrative body or competent
<PAGE>
jurisdiction of the type described in Item 2 of Schedule 13D within the
last five years.
f) U.S.A.
William N. Costaras, individually, who owns 100% of Terry Financial Company
disclaim being part of this 13D group although Terry Financial Company owns
4,000 shares or 0.001% of the registrant's common shares as to which he has
shared voting and shared dispositive power; and although, as trustee of the
Unitrusts, he has shared voting power and shared dispositive power representing
0.12% of the Registrant's common shares as to which he has no pecuniary
interest.
Pleasant Lake Apts Corp, 25812 Fairmount Blvd, Beachwood, Ohio 44122
d) Neither the officers, directors, or shareholders of Pleasant Lake Apts
Corp have been convicted in any criminal proceedings (excluding traffic
violations or similar misdemeanors, if any) within the last five years.
e) Neither the officers, directors, or shareholders of Pleasant Lake Apts
Corp have been a party to any civil proceedings of a judicial or
administrative body or competent jurisdictions of the type described in
Item 2 of Schedule 13D within the last five years
Pleasant Lake Apts.Ltd Partnership, 7530 Lucerne Dr #101, Middleburg Hts, Ohio
44130
d) Neither the officers, directors, or partners of Pleasant Lake Apts Ltd
Partnership have been convicted in any criminal proceedings (excluding
traffic violations or similar misdemeanors, if any) within the last five
years.
e) Neither the officers, directors, or partners of Pleasant Lake Apts
Ltd Partnership have been a party to any civil proceedings of a judicial or
administrative body or competent jurisdictions of the type described in
Item 2 of Schedule 13D within the last five years.
Ramat Securities Ltd, 23811 Chagrin Blvd, Suite 200, Beachwood, Ohio 44122
Broker Dealer
d) Neither the members or unitholders of Ramat Securities Ltd have been
convicted in any criminal proceedings (excluding the traffic violations or
similar misdemeanors, if any) within the last five years.
e) Neither the members or unitholders of Ramat Securities Ltd have been a
a party to any civil proceedings of a judicial or administrative body or
competent jurisdictions of the type described in Item 2 of Schedule 13D
within the last five years.
Sonia Amster Family Ltd Partnership, 25812 Fairmount Blvd, Beachwood, Ohio 44122
d) Neither the partners of the Sonia Amster Family Ltd Partnership have
been convicted in any criminal proceedings (excluding traffic violations or
similar misdemeanors, if any) within the last five years.
e) Neither the partners of Sonia Amster Family Ltd Partnership have been
a party to any civil proceedings of a judicial or administrative body or
competent jurisdictions of the type described in Item 2 Schedule 13D within
the last five years.
Item 3. Souce and Amount of Funds or Other Consideration
Howard Amster, in his personal and individual retirement accounts purchased
all the Impac Mortgage Holding, Inc. common stock with personal funds without
borrowing.
the total consideration of the purchases is $ 3,589,168.79.
Amster Trading Company purchased all the Impac Mortgage Holding, Inc. common
stock
<PAGE>
with working capital without borrowing.
The total consideration of the purchases is $ 143,306.32.
Amster Trading Company Charitable Remainder Unitrusts purchased all the Impac
Mortgage Holding, Inc. common stock with trust assets without borrowing.
The total consideration for the purchases is $ 142,325.13.
Terry Financial Company purchased all the Impac Mortgage Holding, Inc. common
stock with working capital without borrowing.
The total consideration of the purchase was $ 20,253.42.
Tamra F. Gould in her individual retirement account purchased all the Impac
Mortgage Holding, Inc. common stock with personal funds without borrowing.
The total consideration for the purchases is $ 65,719.73.
Sonia Amster Family Ltd Partnership purchased all the Impac Mortgage Holding,
Inc. common stock with partnership funds without borrowing.
The total consideration of the purchases is $ 123,156.30.
Pleasant Lake Apts. Ltd Partnership purchased all the Impac Mortgage Holding,
Inc. common stock with partnership funds without borrowing.
The total consideration of the purchases is $ 108,344.43.
Ramat Securities Ltd purchased all the Impac Mortgage Holding, Inc. common
stock with working capital without borrowing.
The total consideration of the purchases is $ 490,391.19.
Item 4. Purpose of Transaction.
Howard Amster, Amster Trading Company, Amster Trading Company Charitable
Remainder Unitrusts, Tamra F. Gould, Sonia Amster Ltd Partnership, Pleasant
Lakes Apts Ltd Partnership, Ramat Securities Ltd acquired their shares for
purposes of investment. They may be deemed to be a group. William N. Costaras
and his wholly owned Terry Financial Company disclaim being part of any group.
There are no present plans or proposals by any of the purchasers of record or
the beneficial owners as reported in this Schedule 13D which relate to or
would result in the following:
a) The acquisition by any person of additional securities of the issuer,
or the disposition of securities of the issuer provided, however, the
reporting person might acquire additional shares or other securities of the
issuer or dispose of some or all of their shares depending upon market
conditions and their personal circumstances;
b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of its
subsidiaries;
c) A sale or transfer of a material amount of assets of the issuer or any
of its subsidiaries;
d) any change in the present board of directors or management of the
issuer, including any plans or proposals to change the number of terms of
directors or to fill any existing vacancies on the board;
<PAGE>
e) Any material change in the present capitalization or dividend policy
of the issuer;
f) Any other material in the issuer's business or corporate structure;
g) Changes in the issuer's charter, bylaws or instruments corresponding
thereto or other actions which may impede the acquisition of control of the
issuer by any person;
h) Causing a class of securities of the issuer to be delisted from a
national securities exchange or cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities
association;
i) A class of equity securities of the issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
j) Any action similar to any of those enumerated above.
Item 5. Interest in Securities of the Issuer
(a)(b) The aggregate amount owned by the Reporting Persons is 1,094,200
shares or 5.112% of the outstanding shares.
Howard Amster in his own name and individual retirement accounts owns 878,800
shares or 4.106% outstanding shares.
Amster Trading Company owns 26,000 shares or 0.12% of the outstanding shares.
Amster Trading Company Charitable Remainder Unitrusts owns 26,500 shares or
0.12% of the outstanding shares. William N. Costaras is the sole trustee of
Amster Trading Company Charitable Remainder Unitrusts but disclaims
beneficial ownership of those shares. Terry Financial Company (100% owned by
William N. Costaras) owns 4,000 shares or 0.01% of the outstanding shares.
Tamra F. Gould owns in her individual retirement account 17,000 shares or
0.079% of the outstanding shares.
Pleasant Lake Apts Ltd Partnership owns 23,000 shares or 0.11% of the
outstanding shares.
Sonia Amster Family Ltd Partnership owns 23,200 shares or 0.11% of the
outstanding shares.
Ramat Securities Ltd owns 99,700 shares or 0.467% of the outstanding shares.
The above excludes 4,000 shares owned by Terry Financial Company.
c) The following table reflects dates bought, shares and price. All trades
were executed by Everen Securities. On October 1, 1999 Everen Securities and
Wheat First Union joined forces to become First Union Securities, a division
of First Union Securities, Inc., a non-bank affiliate of First Union Corp.
Trades after 9/30/99 are with First Union Securities except as where noted.
Shares executed on A.S.E.
<PAGE>
<TABLE>
<S> <C> <C> <C> <C> <C>
Howard Amster and his individual retirement accounts.
12/28/98 30000 4.3733
12/29/98 22700 4.2021 12/7/99 1400 3.5625
5/3/99 18000 5.3125 12/8/99 20000 3.5781
5/25/99 10400 5.428 12/9/99 4500 3.5
5/26/99 3000 5.375 12/10/99 7000 3.5625 *Executed
6/29/99 6000 5.4375 12/10/99 3000 3.5979 with
7/1/99 56000 5.373 12/13/99 6200 3.5625 Bear Stearns
7/2/99 7000 5.4732 12/14/99 2300 3.5625
7/6/99 19700 5.5 12/15/99 7300 3.5625
9/27/99 4400 4.6335 2/1/00 6300 3.9375
9/28/99 6600 4.5625 2/9/00 27700 3.6875
9/30/99 9000 4.6875 2/11/00 100000 3.5625
10/26/99 5000 4.4375 2/15/00 32200 3.5625
10/27/99 4500 4.3945 2/16/00 15000 3.5625
11/1/99 3200 4.125 2/17/00 87600 3.5143
11/2/99 35000 4.25 2/18/00 5400 3.5
11/3/99 30000 4.2292 2/22/00 35800 3.499
11/4/99 7900 4.1875*Executed with Bear Stearns
11/10/99 35000 4.0525 2/23/00 21600 3.375
11/11/99 22300 4.1875 2/24/00 17500 3.3125
11/12/99 20400 4.2178 2/25/00 2500 3.3125
11/15/99 11900 4.25 3/1/00 15000 3.1875
11/16/99 21200 4.4864 3/30/00 9800 3.4375
11/17/99 21700 4.4055 3/31/00 14500 3.5
11/18/99 23500 4.2255 4/3/00 1800 3.4375
Amster Trading Company
6/22/99 15200 5.4375 6/23/99 10800 5.5
Amster Trading Company Charitable Remainder Unitrust
5/24/99 20000 5.625 10/27/99 6500 4.3945
Tamra F. Gould, Individual Retirement Account
10/16/98 17000 3.8446
Sonia Amster Family Ltd Partnership
6/29/99 20000 5.4375 11/5/99 3200 4.1875
Pleasant Lake Apts Ltd Partnership
11/2/98 23000 4.6893
Ramat Securities Ltd
10/16/98 16100 3.8651 3/4/99 5000 5.5855
11/2/98 25000 4.7059 4/28/99 22000 5.7586
1/12/99 18500 4.7083 7/1/99 9000 5.5238
1/13/99 4100 4.6532
</TABLE>
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
There are no contracts, arrangements, understandings or relationships with
respect to securities of the issuer with any persons except as set forth In
items 2, 3, 5 above.
<PAGE>
Item 7 Material to be filed as exhibits. None
Signature After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this
statement is true, complete and correct.
Date: 4/3/00
<TABLE>
<S> <C> <C>
/s/ /s/ /s/
Howard Amster Amster Trading Company by William N. Costaras, trustee
Amster Trading Company
Charitable Remainder Unitrust
/s/ /s/ /s/
Tamra F. Gould Sonia Amster Family Pleasant Lake Apts
Ltd Partnership Ltd Partnership
/s/ /s/
Ramat Securities Ltd Pleasant Lakes Apts Corp
</TABLE>
