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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2020-02-12 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <issuer> |
| | <issuerCik> 0001000298 </issuerCik> |
| | <issuerName> IMPAC MORTGAGE HOLDINGS INC </issuerName> |
| | <issuerTradingSymbol> IMH </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0000905980 </rptOwnerCik> |
| | | <rptOwnerName> PICKUP RICHARD H. </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 2532 DUPONT DRIVE </rptOwnerStreet1> |
| | | <rptOwnerStreet2></rptOwnerStreet2> |
| | | <rptOwnerCity> IRVINE </rptOwnerCity> |
| | | <rptOwnerState> CA </rptOwnerState> |
| | | <rptOwnerZipCode> 92612 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 1 </isDirector> |
| | | <isOfficer> 0 </isOfficer> |
| | | <isTenPercentOwner> 1 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 2605465 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F1"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1000000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F2"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 120000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1400000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See footnote </value> |
| <footnoteId id="F3"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | </nonDerivativeTable> |
| <derivativeTable> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Convertible Promissory Note Due 2020 </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 21.50 </value> |
| <footnoteId id="F4"/> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2016-01-02 </value> |
| <footnoteId id="F4"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2020-05-09 </value> |
| <footnoteId id="F4"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 639535 </value> |
| <footnoteId id="F4"/> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 13750000 </value> |
| <footnoteId id="F4"/> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> See Footnotes </value> |
| <footnoteId id="F4"/> |
| <footnoteId id="F6"/> |
| <footnoteId id="F7"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 3.75 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2020-02-26 </value> |
| <footnoteId id="F5"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2029-02-26 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 30000 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 13780000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeTransaction> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 5.34 </value> |
| </conversionOrExercisePrice> |
| | | <transactionDate> |
| <value> 2020-02-12 </value> |
| </transactionDate> |
| | | <deemedExecutionDate></deemedExecutionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| </transactionCoding> |
| | | <transactionTimeliness> |
| <value></value> |
| </transactionTimeliness> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 30000 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0.00 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <exerciseDate> |
| <value> 2021-02-12 </value> |
| <footnoteId id="F8"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2030-02-12 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 30000 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 13810000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeTransaction> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> The shares of common stock are held by RHP Trust, dated May 31, 2011 (the "Trust"), over which shares Reporting Person exercises sole voting and investment power. </footnote> |
| | <footnote id="F2"> The shares of common stock are held by Dito Devcar Limited Partnership, over which shares Reporting Person exercises sole voting and investment power. </footnote> |
| | <footnote id="F3"> The shares of common stock are held by Dito Caree Limited Partnership, over which shares Reporting Person exercises sole voting and investment power. </footnote> |
| | <footnote id="F4"> As previously reported on a Form 4 filed by Reporting Person on May 11, 2015, on May 8, 2015, the Trust purchased a Convertible Promissory Note Due 2020 in the original principal amount of $13,750,000 that is convertible by the Trust at any time after January 1, 2016, and, upon conversion of the original principal amount prior to maturity at the initial conversion price of $21.50 per share (subject to adjustment in the event of stock splits, stock dividends and reclassifications), the Trust will receive 639,535 shares of common stock (subject to adjustment in the event of stock splits, stock dividends and reclassifications). The Convertible Promissory Note Due 2020 is due and payable, to the extent not converted, on or before May 9, 2020. </footnote> |
| | <footnote id="F5"> The awards vest annually in equal one-third increments, with the first such increment vesting February 26, 2020. </footnote> |
| | <footnote id="F6"> As of February 12, 2020, Reporting Person may be deemed to beneficially own an aggregate of 5,825,000 shares of the common stock, consisting of (a) 180,000 shares owned directly (which amount includes 60,000 Non-Qualified Stock Options), and (b) an aggregate of 5,645,000 shares owned indirectly, consisting of (i) 2,605,465 shares owned directly by the Trust (over which shares Reporting Person exercises sole voting and investment power), (ii) 639,535 shares that the Trust may acquire at any time after January 1, 2016 upon conversion (at the initial conversion price of $21.50 per share) of the outstanding principal balance of a Convertible Promissory Note Due 2020 owned directly by the Trust, (iii) 1,000,000 shares owned directly by Dito Devcar Limited Partnership (over which shares Reporting Person exercises sole voting and investment power), and </footnote> |
| | <footnote id="F7"> (Continued from Footnote 6) (iv) 1,400,000 shares owned directly by Dito Caree Limited Partnership (over which shares Reporting Person exercises sole voting and investment power). </footnote> |
| | <footnote id="F8"> The awards vest annually in equal one-third increments, with the first such increment vesting February 12, 2021. </footnote> |
| | </footnotes> |
| <remarks></remarks> |
| <ownerSignature> |
| | <signatureName> /s/ Richard H. Pickup </signatureName> |
| | <signatureDate> 2020-02-14 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |