<PAGE>

                                                                EXHIBIT 24.1.1


                              POWER OF ATTORNEY



     KNOW ALL MEN BY THESE PRESENTS, that I, John C. Argue, constitute and
appoint Philip A. Barach and Daniel K. Osborne, and each of them, as my true
and lawful attorneys-in-fact and agents with full power of substitution and
resubstitution, for me and in my name, place and stead, in any and all
capacities, to sign any Form 10-K or Form 10-Q of Apex Mortgage Capital,
Inc., and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing in as I might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or agents or any of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.




/s/ John C. Argue
----------------------------
John C. Argue


<PAGE>



                              POWER OF ATTORNEY



     KNOW ALL MEN BY THESE PRESENTS, that I, Peter G. Allen, constitute and
appoint Philip A. Barach and Daniel K. Osborne, and each of them, as my true
and lawful attorneys-in-fact and agents with full power of substitution and
resubstitution, for me and in my name, place and stead, in any and all
capacities, to sign any Form 10-K or Form 10-Q of Apex Mortgage Capital,
Inc., and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing in as I might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or agents or any of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.




/s/ Peter G. Allen
----------------------------
Peter G. Allen


<PAGE>



                              POWER OF ATTORNEY



     KNOW ALL MEN BY THESE PRESENTS, that I, John A. Gavin, constitute and
appoint Philip A. Barach and Daniel K. Osborne, and each of them, as my true
and lawful attorneys-in-fact and agents with full power of substitution and
resubstitution, for me and in my name, place and stead, in any and all
capacities, to sign any Form 10-K or Form 10-Q of Apex Mortgage Capital,
Inc., and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing in as I might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or agents or any of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.




/s/ John A. Gavin
----------------------------
John A. Gavin


<PAGE>



                              POWER OF ATTORNEY



     KNOW ALL MEN BY THESE PRESENTS, that I, Carl C. Gregory III, constitute
and appoint Philip A. Barach and Daniel K. Osborne, and each of them, as my
true and lawful attorneys-in-fact and agents with full power of substitution
and resubstitution, for me and in my name, place and stead, in any and all
capacities, to sign any Form 10-K or Form 10-Q of Apex Mortgage Capital,
Inc., and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing in as I might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or agents or any of them, or their or his substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.




/s/ Carl C. Gregory
----------------------------
Carl C. Gregory III