-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vs5PGY4tSGrv4/9GQBF24eJM/U0hIa2DZEvjwPCnS4+TAaT8SDj8uPuhgOgjxN+Q QC/zfiiMTqFvCZy2fso7JA== 0001020242-02-000304.txt : 20021030 0001020242-02-000304.hdr.sgml : 20021030 20021030101146 ACCESSION NUMBER: 0001020242-02-000304 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020528 ITEM INFORMATION: Other events FILED AS OF DATE: 20021030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMH ASSETS CORP CENTRAL INDEX KEY: 0001017447 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330705301 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-06637 FILM NUMBER: 02802175 BUSINESS ADDRESS: STREET 1: 1401 DOVE STREET STREET 2: SUITE 200 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 9494753600 MAIL ADDRESS: STREET 1: 20371 IRVINE AVENUE CITY: SANTA ANA HEIGHTS STATE: CA ZIP: 92707 8-K/A 1 im02018k3.txt IMH ASSETS CORP. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 28, 2002 IMH ASSETS CORP. (as Company under a Series 2002-1 Indenture, dated as of February 27, 2002 providing for, inter alia, the issuance of Collateralized Asset- Backed Bonds, Series 2002-1). IMH ASSETS CORP (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-06637 33-0705301 (Commission File Number) (I.R.S. Employer Identification No.) 1401 DOVE STREET NEWPORT BEACH, CALIFORNIA 92660 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (949) 475-3600 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of May 28, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Bankers Trust Company of California, N.A., not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Indenture, dated as of February 27, 2002. Date: October 29, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of May 28, 2002. Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds May 28, 2002 Distribution Contents TABLE OF CONTENTS > Page 1. Contents > 1 2. Certificate Payment > Report 2 3. Collection Account >Report 4 4. Credit Enhancement >Report 7 5. Collateral Report > 8 6. Delinquency Report > 11 7. REO Report > 14 8. Prepayment Report > 15 9. Prepayment Detail R >eport 18 10. Realized Loss Repor >t 19 11. Realized Loss Detai >l Report 22 12. Triggers, Adj. Rate > Cert. and Miscellaneous Report 23 13. Other Related Infor >mation 24 Total Number of Pag >es 24 CONTACTS Administrator: Ja >mes F Noriega Direct Phone Number >: (714)247-6281 Address: Deutsche > Bank 17 >61 E. St. Andrew Place, Santa Ana, CA 92705 Web Site: http:// >www-apps.gis.deutsche-bank.com/invr Factor Information: > (800) 735-7777 Main Phone Number: > (714) 247-6000 ISSUANCE INFORMATION Seller: IMPAC Mortgage Holdings Inc. > Cut-Off Date: February 1, > 2002 Certificate Insurer(s): AMBAC Indemnity Corporation > Closing Date: February 2 >7, 2002 > First Payment Date: March 25, 2002 > Servicer(s): Impac Funding Corporation Mas >ter Servicer Countrywide Funding Corporation > Sub-Servicer Wendover Funding, Inc. Sub-Se >rvicer > Distribution Date: May 28, 2002 > Underwriter(s): Countrywide Securities Co-Lea >d Underwriter Record Date: April 30, >2002 Greenwich Capital Markets, Inc. > Co-Lead Underwriter > Page 1 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Certificate Payment Report for May 28, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) A FLT 470000000 >465310448.9 925580.03 4608638.352 5534218.382 0 > 0 460701810.5 B FLT 25000000 >24750555.79 93020.84 245140.3379 338161.1779 0 > 0 24505415.45 Cert 0 > 0 1429452.152 0 1429452.152 0 > 0 0 Total 495000000 >490061004.7 2448053.022 4853778.69 7301831.712 0 > 0 485207226 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) A 37371 37403 A-Act/360 4525 >4NCG0 470000000 990.0222316 1.969319213 9.805613515 11.7 >7493273 980.2166181 B 37371 37403 A-Act/360 4525 >4NCH8 25000000 990.0222316 3.7208336 9.805613516 13.5 >2644712 980.216618 Cert 37371 37403 - > 0 0 0 0 > 0 0 > Page 2 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Certificate Payment Report for May 28, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) A 470000000 2558191.96 >8083430.294 1214759.199 9298189.493 11856381.45 0 > 0 460701810.5 B 25000000 256143.71 >429969.6965 64614.85103 494584.5475 750728.2575 0 > 0 24505415.45 Cert 0 4373355.294 > 0 0 0 4373355.294 0 > 0 0 Total 495000000 7187690.964 > 8513399.99 1279374.05 9792774.04 16980465 0 > 0 485207226 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) A 0.0217 465310448.9 > 925580.03 0 0 0 925580.03 92 >5580.03 0 B 0.041 24750555.79 > 93020.84 0 0 0 93020.84 9 >3020.84 0 Cert 0 > 0 0 0 0 1429452.152 1429 >452.152 0 Total 490061004.7 > 1018600.87 0 0 0 2448053.022 2448 >053.022 0 > Page 3 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for May 28, 2002 Distribution Collection Account Report SUMMARY > ADJUSTABLE FIXED TOTAL Principal Collections > 4,585,860.98 267,917.71 4,853,778.69 Principal Withdrawals > 0.00 0.00 0.00 Principal Other Accounts > 0.00 0.00 0.00 TOTAL PRINCIPAL > 4,585,860.98 267,917.71 4,853,778.69 Interest Collections > 2,523,472.93 85,506.63 2,608,979.56 Interest Withdrawals > 0.00 0.00 0.00 Interest Other Accounts > 0.00 0.00 0.00 Interest Fees > (159,152.72) (1,773.82) (160,926.54) TOTAL INTEREST > 2,364,320.21 83,732.81 2,448,053.02 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 6,950,181.19 351,650.52 7,301,831.71 PRINCIPAL - COLLECTIONS > ADJUSTABLE FIXED TOTAL Scheduled Principal > 454,454.67 0.00 454,454.67 Curtailments > 51,706.06 19,345.11 71,051.17 Prepayments in Full > 4,079,700.25 248,572.60 4,328,272.85 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidations > 0.00 0.00 0.00 Insurance Principal > 0.00 0.00 0.00 Other Additional Principal > 0.00 0.00 0.00 Delinquent Principal > (364,291.00) 0.00 (364,291.00) Realized Losses > 0.00 0.00 0.00 Substitution Adjustments- Principal > 0.00 0.00 0.00 Termination Price Amounts- Principal > 0.00 0.00 0.00 Additional Principal Amts > 0.00 0.00 0.00 Principal Advanced > 364,291.00 0.00 364,291.00 TOTAL PRINCIPAL > 4,585,860.98 267,917.71 4,853,778.69 Page 4 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for May 28, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK INTEREST - COLLECTIONS > ADJUSTABLE FIXED TOTAL Scheduled Interest > 2,652,879.68 88,758.11 2,741,637.79 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidations > 0.00 0.00 0.00 Insurance Interest > 0.00 0.00 0.00 Other Additional Interest > 0.00 0.00 0.00 Prepayment Interest Shortfalls > (14,202.43) (1,469.44) (15,671.87) Relief Act Interest Shortfalls > 0.00 0.00 0.00 Delinquent Interest > (2,116,187.26) (58,319.36) (2,174,506.62) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 14,202.43 1,469.44 15,671.87 Substitution Adjustments- Interest > 0.00 0.00 0.00 Termination Price Amounts- Interest > 0.00 0.00 0.00 Additional Interest Amts > 0.00 0.00 0.00 Interest Prepayment Premiums > 0.00 0.00 0.00 Interest Advanced > 1,985,188.53 55,067.88 2,040,256.41 Cap Contract Payment Amt > 1,591.98 0.00 1,591.98 TOTAL INTEREST > 2,523,472.93 85,506.63 2,608,979.56 Page 5 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for May 28, 2002 Distribution Collection Account Report INTEREST - WITHDRAWALS > ADJUSTABLE FIXED TOTAL Prev. Unreimbursed PMI Premiums > 0.00 0.00 0.00 Prev. Unreimbursed Spec Haz Premiums > 0.00 0.00 0.00 Prev. Unreimbursed Liq. Expenses > 0.00 0.00 0.00 Prev. Unreimbursed Master/Sub-Servicing Fees > 0.00 0.00 0.00 Amt Rvcd Not Due Bondholder /Deposits in Error > 0.00 0.00 0.00 Prev. Unreimb. P&I Advances/Non Recov Advances > 0.00 0.00 0.00 Prev. Unreimbursed Servicing Advances > 0.00 0.00 0.00 Clear and Terminate Collection Account > 0.00 0.00 0.00 TOTAL INTEREST WITHDRAWALS > 0.00 0.00 0.00 INTEREST - OTHER ACCOUNTS > ADJUSTABLE FIXED TOTAL Cap Contract Payment Amount > 1,591.98 Floor Contract Payment Amounts > 0.00 Swap Contract Payment Amounts > 0.00 INTEREST - FEES > ADJUSTABLE FIXED TOTAL Owner Trustee Fee > 690.45 10.89 701.34 Indenture Trustee Fee > 2,030.72 32.03 2,062.75 Bond Insurance Premium Amount > 69,105.27 0.00 69,105.27 Radian PMI Insurance Premiums > 53,836.30 0.00 53,836.30 Current Servicing Fees > 33,489.98 1,730.90 35,220.88 TOTAL INTEREST FEES > 159,152.72 1,773.82 160,926.54 Page 6 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Credit Enhancement Report for May 28, 2002 Distribution Credit Enhancement Report ACCOUNTS > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK STRUCTURAL FEATURES > ADJUSTABLE FIXED TOTAL Current Periods Required Overcollateralization Amt > 5,000,000.00 Current Periods Overcollateralization Amt > 5,000,000.00 Current Periods Extra Principal Distribution > 0.00 Current Periods Net Monthly Excess Cashflow > 1,429,452.15 Current Periods Overcollateralization Release > 0.00 60 Day Rolling Delinquency Amount > 86,344.54 90 Day Rolling Delinquency Amount > 0.00 Available Funds Rate > 5.4444% Page 7 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for May 28, 2002 Distribution Collateral Report COLLATERAL > ADJUSTABLE FIXED TOTAL Loan Count: Original > 1815 166 1981 Prior > 1977 159 2136 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -19 -6 -25 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 1958 153 2111 Principal Balance: Original > 446375813.9 8048101.91 454423915.8 Prior > 487373940.8 7687063.89 495061004.7 Prefunding > 0 0 0 Scheduled Principal > -454454.67 0 -454454.67 Partial and Full Voluntary Prepayments > -4131406.31 -267917.71 -4399324.02 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 482788079.8 7419146.18 490207226 PREFUNDING > ADJUSTABLE FIXED TOTAL PRE-FUNDING ACCOUNT Original Pre-Funded Amount > 45,576,084.00 Balance of Subsequent Mortgage Loans added this period > 45,572,033.78 Withdrawal remaining amounts > 0.00 Pre-Funding Account Ending Balance > 0.00 Fixed Adjustable Current Prin Balance by Groups (in millions of dollars) Tota >l Current Principal Balance (in millions of dollars) Page 8 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for May 28, 2002 Distribution Collateral Report CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Coupon Original > 0.065341562 0.138472315 0.066636748 Weighted Average Coupon Prior > 0.065437419 0.138537194 0.066596869 Weighted Average Coupon Current > 0.065318544 0.138557106 0.066455756 Weighted Average Months to Maturity Original > 359 172 355.7356177 Weighted Average Months to Maturity Prior > 358 171 355.0963559 Weighted Average Months to Maturity Current > 357 171 354.1849432 Weighted Avg Remaining Amortization Term Original > 358.2662104 167.2829155 354.9322934 Weighted Avg Remaining Amortization Term Prior > 357.3401941 167.0405979 354.3853156 Weighted Avg Remaining Amortization Term Current > 356.3452975 166.2533023 353.4683095 Weighted Average Seasoning Original > 1.73378958 0 1.703523527 Weighted Average Seasoning Prior > 2.65980586 0 2.618505702 Weighted Average Seasoning Current > 3.65470255 53.86638908 4.414642067 Note: Original information refers to deal issue. Fixed Adjustable WAC by Groups Tota >l WAC WARAT by Groups Tota >l WARAT Note: Dates correspond to distribution dates. Page 9 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for May 28, 2002 Distribution Collateral Report ARM CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Margin Original > 0.02905826 Weighted Average Margin Prior > 0.02906741 Weighted Average Margin Current > 0.02905451 Weighted Average Max Rate Original > 0.1304011 Weighted Average Max Rate Prior > 0.13038029 Weighted Average Max Rate Current > 0.13033822 Weighted Average Min Rate Original > 0.02992873 Weighted Average Min Rate Prior > 0.03002654 Weighted Average Min Rate Current > 0.03001962 Weighted Average Cap Up Original > 0.01007847 Weighted Average Cap Up Prior > 0.0100735 Weighted Average Cap Up Current > 0.01006438 Weighted Average Cap Down Original > 0.01007736 Weighted Average Cap Down Prior > 0.0100725 Weighted Average Cap Down Current > 0.01006438 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > ADJUSTABLE FIXED TOTAL Current Servicing Fees > 33,489.98 1,730.90 35,220.88 Delinquent Servicing Fees > 130,998.73 3,251.48 134,250.21 TOTAL SERVICING FEES > 164,488.71 4,982.38 169,471.09 Total Servicing Fees > 164,488.71 4,982.38 169,471.09 Compensating Interest > (14,202.43) (1,469.44) (15,671.87) Delinquent Servicing Fees > (130,998.73) (3,251.48) (134,250.21) COLLECTED SERVICING FEES > 19,287.55 261.46 19,549.01 Current PPIS > 14,202.43 1,469.44 15,671.87 Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 364,291.00 0.00 364,291.00 Total Advanced Interest For Current Payment Date > 1,985,188.53 55,067.88 2,040,256.41 TOTAL ADVANCES FOR CURRENT PERIOD > 2,349,479.53 55,067.88 2,404,547.41 ADDITIONAL COLLATERAL INFORMATION > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK Page 10 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for May 28, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 3106485.86 203200.79 0 3309686.65 % Balance >0.006337087 0.00041452 0 0.006751607 # Loans > 10 1 0 11 % # Loans >0.004737091 0.000473709 0 0.005210801 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 129452.94 > 0 0 0 129452.94 % Balance 0.000264078 > 0 0 0 0.000264078 # Loans 3 > 0 0 0 3 % # Loans 0.001421127 > 0 0 0 0.001421127 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 129452.94 > 3106485.86 203200.79 0 3439139.59 % Balance 0.000264078 >0.006337087 0.00041452 0 0.007015685 # Loans 3 > 10 1 0 14 % # Loans 0.001421127 >0.004737091 0.000473709 0 0.006631928 Note:Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+Pay >ments = 91+ > 6 Months Moving Average 1 or 2 Payments Delinquent 3 or > More Payments Delinquent Total Foreclosure Tota >l Bankruptcy and REO Note: Dates correspond to distribution dates. Page 11 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for May 28, 2002 Distribution Delinquency Report - Fixed Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 0 0 0 0 % Balance > 0 0 0 0 # Loans > 0 0 0 0 % # Loans > 0 0 0 0 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 129452.94 > 0 0 0 129452.94 % Balance 0.017448496 > 0 0 0 0.017448496 # Loans 3 > 0 0 0 3 % # Loans 0.019607843 > 0 0 0 0.019607843 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 129452.94 > 0 0 0 129452.94 % Balance 0.017448496 > 0 0 0 0.017448496 # Loans 3 > 0 0 0 3 % # Loans 0.019607843 > 0 0 0 0.019607843 Note:Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+Pay >ments = 91+ > 6 Months Moving Average 1 or 2 Payments Delinquent 3 or > More Payments Delinquent Total Foreclosure Tota >l Bankruptcy and REO Note: Dates correspond to distribution dates. Page 12 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for May 28, 2002 Distribution Delinquency Report - Adjustable Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 3106485.86 203200.79 0 3309686.65 % Balance >0.006434471 0.00042089 0 0.006855361 # Loans > 10 1 0 11 % # Loans >0.005107252 0.000510725 0 0.005617978 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 0 > 3106485.86 203200.79 0 3309686.65 % Balance 0 >0.006434471 0.00042089 0 0.006855361 # Loans 0 > 10 1 0 11 % # Loans 0 >0.005107252 0.000510725 0 0.005617978 Note:Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+Pay >ments = 91+ > 6 Months Moving Average 1 or 2 Payments Delinquent 3 or > More Payments Delinquent Total Foreclosure Tota >l Bankruptcy and REO Note: Dates correspond to distribution dates. Page 13 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 REO Report for May 28, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 0 Loan Group 1 >= Fixed Group; REO Book Value = 000.00 Total Original Principal Balance = 000.00 Loan Group 2 > = Adjustable Group; REO Book Value = 000.00 Total Current Balance = 000.00 REO Book Value = 000.00 REO Book Value reported corresponds to total REO loans, including loans thatbe >come REO during current distribution. Loan Number Original Stated Curr >ent State & & Principal Principal Paid to Note > LTV at Original Origination Loan Group Balance Balance Date Rate > Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page 14 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for May 28, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > ADJUSTABLE FIXED TOTAL Current Number of Paid in Full Loans > 19 6 25 Number of Repurchased Loans > 0 0 0 Total Number of Loans Prepaid in Full > 19 6 25 Paid in Full Balance > 4079700.25 248572.6 4328272.85 Repurchased Loans Balance > 0 0 0 Curtailments Amount > 51706.06 19345.11 71051.17 Total Prepayment Amount > 4131406.31 267917.71 4399324.02 Cumulative Number of Paid in Full Loans > 38 13 51 Number of Repurchased Loans > 1 0 1 Total Number of Loans Prepaid in Full > 39 13 52 Paid in Full Balance > 7606248.58 585286.42 8191535 Repurchased Loans Balance > 166500 0 166500 Curtailments Amount > 107827.07 43487.5 151314.57 Total Prepayment Amount > 7880575.65 628773.92 8509349.57 Current Prin Balance of Repurchases Per Sec 3.18 > 0.00 0.00 0.00 Cumulative Prin Balance of Repurchases Per Sec 3.18 > 0.00 0.00 0.00 Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 15 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for May 28, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > ADJUSTABLE FIXED TOTAL SMM > 0.008484783 0.034853061 0.008894593 3 Months Avg SMM > 0.005438015 0.02675215 0.005782717 12 Months Avg SMM Avg SMM Since Cut-off > 0.005438015 0.02675215 0.005782717 CPR > 0.097197809 0.346687077 0.101665364 3 Months Avg CPR > 0.063339374 0.277760171 0.067227573 12 Months Avg CPR Avg CPR Since Cut-off > 0.063339374 0.277760171 0.067227573 PSA > 13.29763613 5.778117942 11.51456473 3 Months Avg PSA Approximation > 11.80486369 13.88800853 11.54230892 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 11.80486369 13.88800853 11.54230892 Fixed Adjustable CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 16 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for May 28, 2002 Distribution Prepayment Report - Voluntary Prepayments Fixed Adjustable CPR Avg since Cut-Off by Groups Tota >l CPR Avg since Cut-Off PSA Avg since Cut-Off by Groups Tota >l PSA Avg since Cut-Off PREPAYMENT CALCULATION METHODOLOGY Single Monthly Mortality (SMM) (Voluntary partial and full p >repayments + Repurchases)/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn >,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m) Average CPR over period between the nth month and mth month(Avg >CPRn,m): 1-((1-AvgSMMn,m)^12) Average PSA Approximation over period between the nth month and >mth month: AvgCPRn,m/(0.02*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm) >/(number of months in the period n,m) Weighted Average Seasoning (WAS) Note: Prepayment rates are calculated since deal issue date and > include partial and full voluntary prepayments and repurchases. Dates correspond to distribution dates. Page 17 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Detail Report for May 28, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 25 > Loan Group 1 = Fixed Group Total Original Principal Balance = 4,369,250.00 > Loan Group 2 = Adjustable Group Total Prepayment Amount = 4,328,272.85 Loan Number Original > Current State & Type Prepayment & Loan Principal Prepayment Prep >ayment Note LTV at & Origination Loan Group Status Balance Amount Date > Rate Origination Original Term Date 3900002812 1 50000 48826.88 > 37348 0.1475CA - 30.30% Paid Off - 30 35944 3900002889 1 33500 28094.23 > 37356 0.135DE - 45.27% Paid Off - 18 35685 3900002993 1 63000 53484.65 > 37364 0.1199FL - 63.00% Paid Off - 18 35727 3900003009 1 60000 55832.84 > 37362 0.125CA - 39.47% Paid Off - 24 35851 3900003015 1 40000 34758.4 > 37372 0.1399FL - 47.06% Paid Off - 18 35851 3900003023 1 32000 27575.6 > 37369 0.1275NC - 28.07% Paid Off - 18 35851 1100337186 2 260000 258148.82 > 37355 0.04875CA - 57.15% Paid Off - 36 37253 1100339952 2 262500 261693.65 > 37347 0.07375FL - 75.00% Paid Off - 36 37253 1100344655 2 193500 193140.61 > 37349 0.06375PA - 78.83% Paid Off - 36 37312 1100344661 2 244800 244210.49 > 37357 0.05FL - 89.97% Paid Off - 36 37287 1100344745 2 394250 393308.85 > 37347 0.08625CA - 95.00% Paid Off - 36 37274 1100345242 2 118800 118571.18 > 37356 0.0825CA - 90.00% Paid Off - 36 37273 1100345605 2 265000 264562.48 > 37365 0.09CA - 94.99% Paid Off - 36 37271 1100345728 2 369050 368601.26 > 37370 0.085NJ - 95.00% Paid Off - 36 37314 1100346539 2 190000 189686.32 > 37368 0.09CO - 95.00% Paid Off - 36 37273 1100347444 2 133000 132825.41 > 37365 0.08125NV - 95.00% Paid Off - 36 37287 1100347585 2 224950 224561.55 > 37354 0.0675FL - 89.98% Paid Off - 36 37312 1100347614 2 139450 139231.78 > 37371 0.0725CA - 89.97% Paid Off - 36 37287 1109004259 2 180000 178975.25 > 37361 0.04125CA - 69.77% Paid Off - 36 37245 1109004295 2 346500 344397.2 > 37351 0.075MI - 90.00% Paid Off - 36 37256 1109004823 2 171000 170845.41 > 37362 0.065CA - 90.00% Paid Off - 36 37314 2500013193 2 74250 74010.74 > 37351 0.05625CA - 90.00% Paid Off - 36 37253 2500013907 2 292400 291895.08 > 37376 0.0675CA - 89.97% Paid Off - 36 37281 2500014304 2 155700 155485 > 37375 0.07875IL - 90.00% Paid Off - 36 37287 2500014595 2 75600 75549.17 > 37354 0.0799SC - 75.60% Paid Off - 36 37295 Page > 18 of 24 (c) COPYRIGHT 2002 Deutsc >he Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for May 28, 2002 Distribution Realized Loss Report - Collateral COLLATERAL REALIZED LOSSES > ADJUSTABLE FIXED TOTAL Current Number of Loans Liquidated > 0 0 0 Collateral Realized Loss/(Gain) Amount > 0 0 0 Net Liquidation Proceeds > 0 0 0 Cumulative Number of Loans Liquidated > 0 0 0 Collateral Realized Loss/(Gain) Amount > 0 0 0 Net Liquidation Proceeds > 0 0 0 Note: Collateral realized losses may include adjustments to loan >s liquidated in prior periods. Cumulative Loss Percentage For Related Payment Date > 0.0000% Fixed > 3 Months Moving Average Adjustable Collateral Loss Severity Approximation by Groups Coll >ateral Loss Severity Approximation Page 19 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for May 28, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > ADJUSTABLE FIXED TOTAL MDR > 0 0 0 3 Months Avg MDR > 0 0 0 12 Months Avg MDR Avg MDR Since Cut-off > 0 0 0 CDR > 0 0 0 3 Months Avg CDR > 0 0 0 12 Months Avg CDR Avg CDR Since Cut-off > 0 0 0 SDA > 0 0 0 3 Months Avg SDA Approximation > 0 0 0 12 Months Avg SDA Approximation Avg SDA Since Cut-off Approximation > 0 0 0 Loss Severity Approximation for Current Period 3 Months Avg Loss Severity Approximation 12 Months Avg Loss Severity Approximation Avg Loss Severity Approximation Since Cut-off Fixed Adjustable CDR by Groups Tota >l CDR SDA by Groups Tota >l SDA Page 20 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for May 28, 2002 Distribution Realized Loss Report - Collateral Fixed Adjustable CDR Avg since Cut-Off by Groups Tota >l CDR Avg since Cut-Off SDA Avg since Cut-Off by Groups Tota >l SDA Avg since Cut-Off COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY Monthly Default Rate (MDR): (Beg Principal Balance of Liquida >ted Loans)/(Total Beg Principal Balance) Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0. >02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60))) Average MDR over period between nth month and mth month (AvgMDRn >,m): [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]^(1/months in period n,m) Average CDR over period between the nth month and mth month (Avg >CDRn,m): 1-((1-AvgMDRn,m)^12) Average SDA Approximation over period between the nth month and >mth month: AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX >(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60))) Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months > in the period n,m) Loss Severity Approximation for current period: sum(Realized Los >s Amount)/sum(Beg Principal Balance of Liquidated Loans) Average Loss Severity Approximation over period between nth mont >h and mth month: Avg(Loss Severityn,m) Note: Default rates are calculated since deal issue date and in clude realized gains and additional realized losses and gains from priorperiod >s. Dates correspond to distribution dates. Page 21 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Detail Report for May 28, 2002 Distribution Realized Loss Detail Report - Loans Liquidated During Current >Distribution SUMMARY > LOAN GROUP Total Loan Count = 0 > Loan Group 1 = Fixed Group Total Original Principal Balance = 0.00 > Loan Group 2 = Adjustable Group Total Prior Principal Balance = 0.00 Total Realized Loss Amount = 0.00 Total Net Liquidation Proceeds = 0.00 Loan Number Original Prior > Current State & & Loan Principal Principal Real >ized Note LTV at Original Origination Loan Group Status Balance Balance Loss >/(Gain) Rate Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page > 22 of 24 (c) COPYRIGHT 2002 Deutsc >he Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Triggers, Adj. Rate Cert. and Miscellaneous Report for May 28, 2 >002 Distribution Triggers, Adj. Rate Cert. and Miscellaneous Report TRIGGER EVENTS > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK ADJUSTABLE RATE CERTIFICATE INFORMATION > ADJUSTABLE FIXED TOTAL Current Periods Basis Risk Shortfall Carry Forward Amt > 0.00 Cumulative Basis Risk Shortfall Carry Forward Amt > 0.00 Current Periods LIBOR Rate > 1.8500% ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Page 23 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Other Related Information for May 28, 2002 Distribution Other Related Information ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Total Derivative Payments > (1,591.98) 241751 (3422599) > (1,591.98) NCC4728 > 0.00 NCC4729 > 0.00 IMP021C1 > 0.00 IMP021C2 > 0.00 IMP021C3 > 0.00 IMP021C4 > 0.00 IMP021C5 > 0.00 IMP021C6 > 0.00 IMP021C7 > 0.00 IMP021F1 > 0.00 IMP021F2 > 0.00 IMP021F3 > 0.00 IMP021F4 > 0.00 IMP021F5 > 0.00 IMP021F6 > 0.00 IMP021F7 > 0.00 Page 24 of 24 > (c) COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----