8-K/A 1 im02018k6.txt IMH ASSESTS 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): August 26, 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 August 26, 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 30, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of August 26, 2002. Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds August 26, 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: August 26, 2 >002 Underwriter(s): Countrywide Securities Co-Lea >d Underwriter Record Date: July 31, 2 >002 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 August 26, 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 >448271080.9 859437.27 8473624.455 9333061.725 0 > 0 439797456.4 B FLT 25000000 >23844206.43 86620.81 450724.7051 537345.5151 0 > 0 23393481.72 Cert 0 > 0 1330852.511 0 1330852.511 0 > 0 0 Total 495000000 >472115287.3 2276910.591 8924349.16 11201259.75 0 > 0 463190938.1 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 37462 37493 A-Act/360 4525 >4NCG0 470000000 953.7682571 1.828589936 18.0289882 19.8 >5757814 935.739269 B 37462 37493 A-Act/360 4525 >4NCH8 25000000 953.7682572 3.4648324 18.0289882 21. >4938206 935.7392688 Cert 37462 37493 - > 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 August 26, 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 5009570.98 >27696492.46 2506051.138 30202543.59 35212114.57 0 > 0 439797456.4 B 25000000 503103.41 >1473217.684 133300.5925 1606518.276 2109621.686 0 > 0 23393481.72 Cert 0 8735030.518 > 0 0 0 8735030.518 0 > 0 0 Total 495000000 14247704.91 >29169710.14 2639351.73 31809061.87 46056766.78 0 > 0 463190938.1 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 0.0215688 448271080.9 > 859437.27 0 0 0 859437.27 85 >9437.27 0 B 0.0408688 23844206.43 > 86620.81 0 0 0 86620.81 8 >6620.81 0 Cert 0 > 0 0 0 0 1330852.511 1330 >852.511 0 Total 472115287.3 > 946058.08 0 0 0 2276910.591 2276 >910.591 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 August 26, 2002 Distribution Collection Account Report SUMMARY > ADJUSTABLE FIXED TOTAL Principal Collections > 8,659,311.55 265,037.61 8,924,349.16 Principal Withdrawals > 0.00 0.00 0.00 Principal Other Accounts > 0.00 0.00 0.00 TOTAL PRINCIPAL > 8,659,311.55 265,037.61 8,924,349.16 Interest Collections > 2,457,031.72 77,969.37 2,535,001.09 Interest Withdrawals > 0.00 0.00 0.00 Interest Other Accounts > 0.00 0.00 0.00 Interest Fees > (245,843.11) (1,396.67) (247,239.78) TOTAL INTEREST > 2,211,188.61 76,572.70 2,287,761.31 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 10,870,500.16 341,610.31 11,212,110.47 PRINCIPAL - COLLECTIONS > ADJUSTABLE FIXED TOTAL Scheduled Principal > 457,432.93 0.00 457,432.93 Curtailments > 45,461.67 21,759.41 67,221.08 Prepayments in Full > 7,981,739.16 243,278.20 8,225,017.36 Repurchases/Substitutions > 174,677.79 0.00 174,677.79 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 > (94,079.22) 0.00 (94,079.22) 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 > 94,079.22 0.00 94,079.22 TOTAL PRINCIPAL > 8,659,311.55 265,037.61 8,924,349.16 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 August 26, 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 > 2,489,587.40 81,146.74 2,570,734.14 Repurchases/Substitutions > 1,328.28 0.00 1,328.28 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 > (18,326.78) (1,224.78) (19,551.56) Relief Act Interest Shortfalls > 0.00 0.00 0.00 Delinquent Interest > (556,564.65) (57,373.72) (613,938.37) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 18,326.78 1,224.78 19,551.56 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 > 522,680.69 54,196.35 576,877.04 Cap Contract Payment Amt > 0.00 0.00 0.00 TOTAL INTEREST > 2,457,031.72 77,969.37 2,535,001.09 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 August 26, 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 > 0.00 Floor Contract Payment Amounts > 10,850.72 Swap Contract Payment Amounts > 0.00 INTEREST - FEES > ADJUSTABLE FIXED TOTAL Owner Trustee Fee > 666.00 9.91 675.91 Indenture Trustee Fee > 1,958.82 29.16 1,987.98 Bond Insurance Premium Amount > 65,969.62 0.00 65,969.62 Radian PMI Insurance Premiums > 52,468.29 0.00 52,468.29 Current Servicing Fees > 124,780.38 1,357.60 126,137.98 TOTAL INTEREST FEES > 245,843.11 1,396.67 247,239.78 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 August 26, 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 > 1,330,852.51 Current Periods Overcollateralization Release > 0.00 60 Day Rolling Delinquency Amount > 3,555,979.31 90 Day Rolling Delinquency Amount > 1,814,432.02 Available Funds Rate > 5.4226% Page 7 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for August 26, 2002 Distribution Collateral Report COLLATERAL > ADJUSTABLE FIXED TOTAL Loan Count: Original > 1815 166 1981 Prior > 1918 145 2063 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -30 -5 -35 Repurchases > -1 0 -1 Liquidations > 0 0 0 Current > 1887 140 2027 Principal Balance: Original > 446375813.9 8048101.91 454423915.8 Prior > 470116585.2 6998702.07 477115287.3 Prefunding > 0 0 0 Scheduled Principal > -457432.93 0 -457432.93 Partial and Full Voluntary Prepayments > -8027200.83 -265037.61 -8292238.44 Repurchases > -174677.79 0 -174677.79 Liquidations > 0 0 0 Current > 461457273.7 6733664.46 468190938.1 PREFUNDING > ADJUSTABLE FIXED TOTAL PRE-FUNDING ACCOUNT Original Pre-Funded Amount > 45,576,084.00 Balance of Subsequent Mortgage Loans added this period > 0.00 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 August 26, 2002 Distribution Collateral Report CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Coupon Original > 0.065341562 0.138472315 0.066636748 Weighted Average Coupon Prior > 0.06499315 0.138884848 0.066101889 Weighted Average Coupon Current > 0.063582075 0.139134498 0.064690338 Weighted Average Months to Maturity Original > 359 172 355.7356177 Weighted Average Months to Maturity Prior > 355 168 352.256937 Weighted Average Months to Maturity Current > 354 168 351.3248914 Weighted Avg Remaining Amortization Term Original > 358.2662104 167.2829155 354.9322934 Weighted Avg Remaining Amortization Term Prior > 354.3596875 163.8444363 351.5650601 Weighted Avg Remaining Amortization Term Current > 353.3607063 163.3867464 350.628443 Weighted Average Seasoning Original > 1.73378958 0 1.703523527 Weighted Average Seasoning Prior > 5.64031247 56.08769536 6.380314336 Weighted Average Seasoning Current > 6.63929372 57.18513541 7.366259387 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 August 26, 2002 Distribution Collateral Report ARM CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Margin Original > 0.02905826 Weighted Average Margin Prior > 0.02905841 Weighted Average Margin Current > 0.02905793 Weighted Average Max Rate Original > 0.1304011 Weighted Average Max Rate Prior > 0.13029139 Weighted Average Max Rate Current > 0.13028448 Weighted Average Min Rate Original > 0.02992873 Weighted Average Min Rate Prior > 0.0300318 Weighted Average Min Rate Current > 0.03004357 Weighted Average Cap Up Original > 0.01007847 Weighted Average Cap Up Prior > 0.01006578 Weighted Average Cap Up Current > 0.01006661 Weighted Average Cap Down Original > 0.01007736 Weighted Average Cap Down Prior > 0.01006578 Weighted Average Cap Down Current > 0.01006661 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > ADJUSTABLE FIXED TOTAL Current Servicing Fees > 124,780.38 1,357.60 126,137.98 Delinquent Servicing Fees > 33,883.96 3,177.37 37,061.33 TOTAL SERVICING FEES > 158,664.34 4,534.97 163,199.31 Total Servicing Fees > 158,664.34 4,534.97 163,199.31 Compensating Interest > (18,326.78) (1,224.78) (19,551.56) Delinquent Servicing Fees > (33,883.96) (3,177.37) (37,061.33) COLLECTED SERVICING FEES > 106,453.60 132.82 106,586.42 Current PPIS > 18,326.78 1,224.78 19,551.56 Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 94,079.22 0.00 94,079.22 Total Advanced Interest For Current Payment Date > 522,680.69 54,196.35 576,877.04 TOTAL ADVANCES FOR CURRENT PERIOD > 616,759.91 54,196.35 670,956.26 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 August 26, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2393557.44 1308373.18 1755752.18 5457682.8 % Balance >0.005112353 0.002794529 0.003750077 0.011656959 # Loans > 11 6 7 24 % # Loans >0.005426739 0.002960039 0.003453379 0.011840158 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 85518.25 > 0 217610.86 0 303129.11 % Balance 0.000182657 > 0 0.000464791 0 0.000647448 # Loans 2 > 0 2 0 4 % # Loans 0.00098668 > 0 0.00098668 0 0.00197336 REO Balance 0 > 0 229127.79 644123.08 873250.87 % Balance 0 > 0 0.00048939 0.00137577 0.00186516 # Loans 0 > 0 1 1 2 % # Loans 0 > 0 0.00049334 0.00049334 0.00098668 TOTAL Balance 85518.25 > 2393557.44 1755111.83 2399875.26 6634062.78 % Balance 0.000182657 >0.005112353 0.00374871 0.005125847 0.014169567 # Loans 2 > 11 9 8 30 % # Loans 0.00098668 >0.005426739 0.004440059 0.003946719 0.014800197 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 August 26, 2002 Distribution Delinquency Report - Fixed Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 46973.15 0 45454.43 92427.58 % Balance >0.006975867 0 0.006750326 0.013726193 # Loans > 1 0 1 2 % # Loans >0.007142857 0 0.007142857 0.014285714 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 85518.25 > 0 85556.35 0 171074.6 % Balance 0.012700106 > 0 0.012705764 0 0.025405869 # Loans 2 > 0 1 0 3 % # Loans 0.014285714 > 0 0.007142857 0 0.021428571 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 85518.25 > 46973.15 85556.35 45454.43 263502.18 % Balance 0.012700106 >0.006975867 0.012705764 0.006750326 0.039132063 # Loans 2 > 1 1 1 5 % # Loans 0.014285714 >0.007142857 0.007142857 0.007142857 0.035714286 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 August 26, 2002 Distribution Delinquency Report - Adjustable Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2346584.29 1308373.18 1710297.75 5365255.22 % Balance > 0.00508516 0.002835307 0.003706297 0.011626765 # Loans > 10 6 6 22 % # Loans >0.005299417 0.00317965 0.00317965 0.011658718 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 132054.51 0 132054.51 % Balance 0 > 0 0.000286168 0 0.000286168 # Loans 0 > 0 1 0 1 % # Loans 0 > 0 0.000529942 0 0.000529942 REO Balance 0 > 0 229127.79 644123.08 873250.87 % Balance 0 > 0 0.000496531 0.001395846 0.001892376 # Loans 0 > 0 1 1 2 % # Loans 0 > 0 0.000529942 0.000529942 0.001059883 TOTAL Balance 0 > 2346584.29 1669555.48 2354420.83 6370560.6 % Balance 0 > 0.00508516 0.003618007 0.005102143 0.01380531 # Loans 0 > 10 8 7 25 % # Loans 0 >0.005299417 0.004239534 0.003709592 0.013248543 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 August 26, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 2 Loan Group 1 >= Fixed Group; REO Book Value = Not Available Total Original Principal Balance = 879,000.00 Loan Group 2 > = Adjustable Group; REO Book Value = Not Available Total Current Balance = 873,250.87 REO Book Value = Not Available 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 1100343973 2 231000 229127.79 37347 > 0.06MO - 70.00% 360 37286 2500011944 2 648000 644123.08 37288 > 0.06875TX - 68.22% 360 37256 Page 14 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for August 26, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > ADJUSTABLE FIXED TOTAL Current Number of Paid in Full Loans > 30 5 35 Number of Repurchased Loans > 1 0 1 Total Number of Loans Prepaid in Full > 31 5 36 Paid in Full Balance > 7981739.16 243278.2 8225017.36 Repurchased Loans Balance > 174677.79 0 174677.79 Curtailments Amount > 45461.67 21759.41 67221.08 Total Prepayment Amount > 8201878.62 265037.61 8466916.23 Cumulative Number of Paid in Full Loans > 107 26 133 Number of Repurchased Loans > 3 0 3 Total Number of Loans Prepaid in Full > 110 26 136 Paid in Full Balance > 27115907.88 1213521.29 28329429.17 Repurchased Loans Balance > 446237.79 0 446237.79 Curtailments Amount > 289258.41 100734.35 389992.76 Total Prepayment Amount > 27851404.08 1314255.64 29165659.72 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 August 26, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > ADJUSTABLE FIXED TOTAL SMM > 0.01746347 0.037869537 0.01776309 3 Months Avg SMM > 0.014011533 0.031798284 0.014276517 12 Months Avg SMM Avg SMM Since Cut-off > 0.009734052 0.029278496 0.010038727 CPR > 0.190560354 0.370772661 0.193517405 3 Months Avg CPR > 0.155767594 0.321437002 0.158486215 12 Months Avg CPR Avg CPR Since Cut-off > 0.110753547 0.299939128 0.11403112 PSA > 14.35095073 6.179544351 13.13539172 3 Months Avg PSA Approximation > 13.80197599 5.357283364 12.41381645 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 13.30259262 7.498478209 12.26710337 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 August 26, 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 August 26, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 36 > Loan Group 1 = Fixed Group Total Original Principal Balance = 8,476,578.00 > Loan Group 2 = Adjustable Group Total Prepayment Amount = 8,399,695.15 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 3900002802 1 54000 48152.18 > 37460 0.14CA - 20.00% Paid Off - 18 35941 3900002864 1 55000 49897.73 > 37449 0.13875CA - 19.64% Paid Off - 18 36131 3900002925 1 54000 49625.23 > 37455 0.1199MD - 36.99% Paid Off - 24 35698 3900002926 1 59000 49759.04 > 37439 0.115CA - 45.38% Paid Off - 18 35698 3900002998 1 50000 45844.02 > 37466 0.1325CA - 26.32% Paid Off - 24 35734 1100342481 2 239300 237577.05 > 37447 0.05375CA - 89.97% Paid Off - 36 37265 1100342651 2 290000 288530.37 > 37460 0.06875NC - 89.79% Paid Off - 36 37265 1100343424 2 214400 213479.65 > 37468 0.06875CA - 89.90% Paid Off - 36 37256 1100343801 2 297500 295941.38 > 37463 0.0675CA - 70.00% Paid Off - 36 37313 1100343974 2 134900 133784.44 > 37438 0.08625MI - 90.00% Paid Off - 36 37287 1100344013 2 116100 115709.14 > 37452 0.10375OH - 90.00% Paid Off - 36 37316 1100344424 2 291000 289239.98 > 37439 0.06CA - 65.40% Paid Off - 36 37253 1100344425 2 360000 358067.79 > 37461 0.05625CA - 68.58% Paid Off - 36 37271 1100344437 2 335000 333741.27 > 37468 0.075FL - 59.83% Paid Off - 36 37272 1100344558 2 159300 158085.52 > 37438 0.04625NJ - 90.00% Paid Off - 36 37300 1100344737 2 192000 191283 > 37445 0.06375CA - 100.00% Paid Off - 36 37307 1100344883 2 232000 227260.81 > 37463 0.07125CA - 80.00% Paid Off - 36 37270 1100345055 2 270300 269077.41 > 37442 0.075CA - 85.00% Paid Off - 36 37265 1100345132 2 320577 319636.87 > 37461 0.09625CA - 95.00% Paid Off - 36 37288 1100345541 2 327750 326153.91 > 37468 0.06125CA - 95.00% Paid Off - 36 37270 1100345660 2 150000 149459.04 > 37438 0.08625CA - 79.79% Paid Off - 36 37273 1100345724 2 139500 139083.3 > 37452 0.09375CO - 90.00% Paid Off - 36 37288 1100345763 2 231200 230009.79 > 37447 0.05875CA - 80.00% Paid Off - 36 37287 1100346744 2 196150 195356.33 > 37448 0.07125CA - 89.98% Paid Off - 36 37279 1100346748 2 232150 231019.43 > 37445 0.06125CA - 89.99% Paid Off - 36 37279 1100347588 2 300000 298582.12 > 37442 0.05125CO - 68.49% Paid Off - 36 37299 1109004793 2 223250 222254.26 > 37452 0.06625CA - 95.00% Paid Off - 36 37287 2500013072 2 188000 186479.48 > 37456 0.03375CA - 78.34% Paid Off - 36 37264 2500013236 2 640000 634780.04 > 37467 0.04625IL - 48.49% Paid Off - 36 37252 2500013522 2 270000 268894.75 > 37462 0.08CA - 90.00% Paid Off - 36 37263 2500013583 2 384000 381389.18 > 37445 0.04625CA - 80.00% Paid Off - 36 37253 2500013653 2 360000 356337.68 > 37455 0.06875OH - 75.00% Paid Off - 36 37272 2500013861 2 165000 164315.82 > 37438 0.07CA - 75.00% Paid Off - 36 37281 2500013961 2 369550 367602.27 > 37461 0.0575CA - 95.00% Paid Off - 36 37267 2500014813 2 400500 398607.08 > 37468 0.05125IL - 90.00% Paid Off - 36 37306 1100344460 2 175151 174677.79 > 37469 0.09125IL - 95.00% Repur/Subs - 37284 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 August 26, 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 August 26, 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 August 26, 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 August 26, 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 August 26 >, 2002 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 > 1.8369% 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 August 26, 2002 Distribution Other Related Information ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Total Derivative Payments > 10,850.72 241751 (3422599) > 0.00 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 > 1,636.97 IMP021F2 > 1,474.04 IMP021F3 > 1,217.01 IMP021F4 > 6,099.01 IMP021F5 > 0.00 IMP021F6 > 423.70 IMP021F7 > 0.00 Page 24 of 24 > (c) COPYRIGHT 2002 Deutsche Bank