<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Impac
Commercial Holdings, Inc. Quarterly Report on form 10-Q for the quarter ended
June 30, 2000 and is qualified in its entirety by reference to such financial
statements.


                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-START>                             JAN-01-2000
<PERIOD-END>                               JUN-30-2000
<CASH>                                           9,333
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 454,781
<CURRENT-LIABILITIES>                           97,514
<BONDS>                                        270,510
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          5
<COMMON>                                            63
<OTHER-SE>                                      86,689
<TOTAL-LIABILITY-AND-EQUITY>                   454,781
<SALES>                                              0
<TOTAL-REVENUES>                                17,476
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 1,670
<LOSS-PROVISION>                                   337
<INTEREST-EXPENSE>                              12,202
<INCOME-PRETAX>                                  3,267
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              3,267
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,267
<EPS-BASIC>                                       0.35
<EPS-DILUTED>                                     0.34