Prepared by R.R. Donnelley Financial -- Consent of KPMG LLP regarding the Company

We consent to the incorporation by reference in the prospectus supplement to the registration statement (No. 333-74432) on Form S-3 of Impac Mortgage Holdings, Inc. of our report dated January 28, 2002, except as to note T to the consolidated financial statements which is as of March 8, 2002, relating to the consolidated balance sheets of Impac Mortgage Holdings, Inc. and subsidiaries as of December 31, 2001 and 2000, and the related consolidated statements of operations and comprehensive earnings (loss), changes in stockholders’ equity and cash flows for each of the years in the three-year period ended December 31, 2001, which appears in the December 31, 2001, annual report on Form 10-K of Impac Mortgage Holdings, Inc. filed on April 1, 2002 and to the reference to our firm under the heading “Experts” in the prospectus supplement.