O.C. BRIEFLY

Impac Mortgage Holdings Inc.: The Santa Ana Heights company, formerly Imperial Credit Mortgage Holdings Inc., posted a net loss of $34.8 million, or $1.70 a share, for the fourth quarter, which included a nonrecurring charge of $44.4 million related to the buyout of its management agreement with Imperial Credit Advisors Inc. A year earlier, the company earned $4.5 million, or 37 cents a share. Revenue advanced 87% to $36.4 million from $19.5 million.

For the year, Impac lost $16 million, or 99 cents a share, contrasted with net income of $11.9 million, or $1.32 a share, for 1996. Revenue was up 84% to $119.9 million from $65.2 million.