8-K 1 im02018k8.txt IMH ASSETS CORP SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):October 25, 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 october 256, 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: November 26, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of October 25, 2002. Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds October 25, 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.corporatetrust.db.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: October 25, >2002 Underwriter(s): Countrywide Securities Co-Lea >d Underwriter Record Date: September >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 October 25, 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 >430972708.3 766323.35 10006542.78 10772866.13 0 > 0 420966165.6 B FLT 25000000 >22924080.23 77631.44 532262.9136 609894.3536 0 > 0 22391817.32 Cert 0 > 0 1190257.76 0 1190257.76 0 > 0 0 Total 495000000 >453896788.6 2034212.55 10538805.69 12573018.24 0 > 0 443357982.9 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 37524 37553 A-Act/360 4525 >4NCG0 470000000 916.9632092 1.630475213 21.29051655 22.9 >2099176 895.6726927 B 37524 37553 A-Act/360 4525 >4NCH8 25000000 916.9632092 3.1052576 21.29051654 24.3 >9577414 895.6726928 Cert 37524 37553 - > 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 October 25, 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 6556534.82 >45639889.09 3393945.342 49033834.44 55590369.26 0 > 0 420966165.6 B 25000000 659882.8 >2427653.675 180529.0076 2608182.683 3268065.483 0 > 0 22391817.32 Cert 0 11208481.38 > 0 0 0 11208481.38 0 > 0 0 Total 495000000 18424899 >48067542.77 3574474.35 51642017.12 70066916.12 0 > 0 443357982.9 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 0.0213375 430972708.3 > 766323.35 0 0 0 766323.35 76 >6323.35 0 B 0.0406375 22924080.23 > 77631.44 0 0 0 77631.44 7 >7631.44 0 Cert 0 > 0 0 0 0 1190257.76 119 >0257.76 0 Total 453896788.6 > 843954.79 0 0 0 2034212.55 203 >4212.55 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 October 25, 2002 Distribution Collection Account Report SUMMARY > ADJUSTABLE FIXED TOTAL Principal Collections > 10,273,599.88 265,205.81 10,538,805.69 Principal Withdrawals > 0.00 0.00 0.00 Principal Other Accounts > 0.00 0.00 0.00 TOTAL PRINCIPAL > 10,273,599.88 265,205.81 10,538,805.69 Interest Collections > 2,262,519.98 70,419.73 2,332,939.71 Interest Withdrawals > 0.00 (99.26) (99.26) Interest Other Accounts > 0.00 0.00 0.00 Interest Fees > (233,376.88) (1,102.62) (234,479.50) TOTAL INTEREST > 2,029,143.10 69,217.85 2,098,360.95 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 12,302,742.98 334,423.66 12,637,166.64 PRINCIPAL - COLLECTIONS > ADJUSTABLE FIXED TOTAL Scheduled Principal > 466,555.35 0.00 466,555.35 Curtailments > 234,224.55 18,244.40 252,468.95 Prepayments in Full > 9,572,819.98 246,961.41 9,819,781.39 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 > (103,369.89) 0.00 (103,369.89) 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 > 103,369.89 0.00 103,369.89 TOTAL PRINCIPAL > 10,273,599.88 265,205.81 10,538,805.69 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 October 25, 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 > 2,297,817.73 75,357.28 2,373,175.01 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 > (25,625.29) (1,638.39) (27,263.68) Relief Act Interest Shortfalls > 0.00 (1,794.55) (1,794.55) Delinquent Interest > (561,827.18) (56,465.86) (618,293.04) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 25,625.29 1,638.39 27,263.68 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 > 526,529.43 53,322.86 579,852.29 Cap Contract Payment Amt > 0.00 0.00 0.00 TOTAL INTEREST > 2,262,519.98 70,419.73 2,332,939.71 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 October 25, 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 99.26 99.26 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 99.26 99.26 INTEREST - OTHER ACCOUNTS > ADJUSTABLE FIXED TOTAL Cap Contract Payment Amount > 0.00 Floor Contract Payment Amounts > 64,148.40 Swap Contract Payment Amounts > 0.00 INTEREST - FEES > ADJUSTABLE FIXED TOTAL Owner Trustee Fee > 640.93 9.17 650.10 Indenture Trustee Fee > 1,885.09 26.98 1,912.07 Bond Insurance Premium Amount > 63,144.92 0.00 63,144.92 Radian PMI Insurance Premiums > 50,311.72 0.00 50,311.72 Current Servicing Fees > 117,394.22 1,066.47 118,460.69 TOTAL INTEREST FEES > 233,376.88 1,102.62 234,479.50 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 October 25, 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 > 1,190,257.76 Current Periods Overcollateralization Release > 0.00 60 Day Rolling Delinquency Amount > 4,914,748.46 90 Day Rolling Delinquency Amount > 3,694,418.89 Available Funds Rate > 5.3790% Page 7 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for October 25, 2002 Distribution Collateral Report COLLATERAL > ADJUSTABLE FIXED TOTAL Loan Count: Original > 1815 166 1981 Prior > 1852 135 1987 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -38 -5 -43 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 1814 130 1944 Principal Balance: Original > 446375813.9 8048101.91 454423915.8 Prior > 452420674.9 6476113.65 458896788.6 Prefunding > 0 0 0 Scheduled Principal > -466555.35 0 -466555.35 Partial and Full Voluntary Prepayments > -9807044.53 -265205.81 -10072250.34 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 442147075 6210907.84 448357982.9 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 October 25, 2002 Distribution Collateral Report CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Coupon Original > 0.065341562 0.138472315 0.066636748 Weighted Average Coupon Prior > 0.06155871 0.138972942 0.062672105 Weighted Average Coupon Current > 0.060947287 0.139634268 0.062057745 Weighted Average Months to Maturity Original > 359 172 355.7356177 Weighted Average Months to Maturity Prior > 353 167 350.3751023 Weighted Average Months to Maturity Current > 352 167 349.4372756 Weighted Avg Remaining Amortization Term Original > 358.2662104 167.2829155 354.9322934 Weighted Avg Remaining Amortization Term Prior > 352.361234 163.1970068 349.6916816 Weighted Avg Remaining Amortization Term Current > 351.3669736 162.4900177 348.7505434 Weighted Average Seasoning Original > 1.73378958 0 1.703523527 Weighted Average Seasoning Prior > 7.63876599 58.16538335 8.35181547 Weighted Average Seasoning Current > 8.63302643 59.18350669 9.333280214 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 October 25, 2002 Distribution Collateral Report ARM CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Margin Original > 0.02905826 Weighted Average Margin Prior > 0.02904304 Weighted Average Margin Current > 0.02903515 Weighted Average Max Rate Original > 0.1304011 Weighted Average Max Rate Prior > 0.13025182 Weighted Average Max Rate Current > 0.13022411 Weighted Average Min Rate Original > 0.02992873 Weighted Average Min Rate Prior > 0.03002424 Weighted Average Min Rate Current > 0.02993737 Weighted Average Cap Up Original > 0.01007847 Weighted Average Cap Up Prior > 0.01006441 Weighted Average Cap Up Current > 0.01006373 Weighted Average Cap Down Original > 0.01007736 Weighted Average Cap Down Prior > 0.01006441 Weighted Average Cap Down Current > 0.01006373 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > ADJUSTABLE FIXED TOTAL Current Servicing Fees > 117,394.22 1,066.47 118,460.69 Delinquent Servicing Fees > 35,297.75 3,143.00 38,440.75 TOTAL SERVICING FEES > 152,691.97 4,209.47 156,901.44 Total Servicing Fees > 152,691.97 4,209.47 156,901.44 Compensating Interest > (25,625.29) (1,638.39) (27,263.68) Delinquent Servicing Fees > (35,297.75) (3,143.00) (38,440.75) COLLECTED SERVICING FEES > 91,768.93 (571.92) 91,197.01 Current PPIS > 25,625.29 1,638.39 27,263.68 Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 103,369.89 0.00 103,369.89 Total Advanced Interest For Current Payment Date > 526,529.43 53,322.86 579,852.29 TOTAL ADVANCES FOR CURRENT PERIOD > 629,899.32 53,322.86 683,222.18 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 October 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 3177571.9 1377170.06 1930037.48 6484779.44 % Balance >0.007087131 0.003071586 0.00430468 0.014463397 # Loans > 18 8 8 34 % # Loans >0.009259259 0.004115226 0.004115226 0.017489712 FORECLOSURE Balance 0 > 0 0 1120951.31 1120951.31 % Balance 0 > 0 0 0.002500126 0.002500126 # Loans 0 > 0 0 3 3 % # Loans 0 > 0 0 0.00154321 0.00154321 BANKRUPTCY Balance 85108.56 > 0 0 384718.21 469826.77 % Balance 0.000189823 > 0 0 0.00085806 0.001047883 # Loans 2 > 0 0 3 5 % # Loans 0.001028807 > 0 0 0.00154321 0.002572016 REO Balance 0 > 0 0 1040364.41 1040364.41 % Balance 0 > 0 0 0.002320388 0.002320388 # Loans 0 > 0 0 2 2 % # Loans 0 > 0 0 0.001028807 0.001028807 TOTAL Balance 85108.56 > 3177571.9 1377170.06 4476071.41 9115921.93 % Balance 0.000189823 >0.007087131 0.003071586 0.009983254 0.020331794 # Loans 2 > 18 8 16 44 % # Loans 0.001028807 >0.009259259 0.004115226 0.008230453 0.022633745 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 October 25, 2002 Distribution Delinquency Report - Fixed Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 43694.62 91617.63 45454.43 180766.68 % Balance >0.007035142 0.014751085 0.007318484 0.029104711 # Loans > 1 2 1 4 % # Loans >0.007692308 0.015384615 0.007692308 0.030769231 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 85108.56 > 0 0 85282.16 170390.72 % Balance 0.013703079 > 0 0 0.01373103 0.027434109 # Loans 2 > 0 0 1 3 % # Loans 0.015384615 > 0 0 0.007692308 0.023076923 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 85108.56 > 43694.62 91617.63 130736.59 351157.4 % Balance 0.013703079 >0.007035142 0.014751085 0.021049514 0.05653882 # Loans 2 > 1 2 2 7 % # Loans 0.015384615 >0.007692308 0.015384615 0.015384615 0.053846154 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 October 25, 2002 Distribution Delinquency Report - Adjustable Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 3133877.28 1285552.43 1884583.05 6304012.76 % Balance >0.007087862 0.002907522 0.004262344 0.014257728 # Loans > 17 6 7 30 % # Loans >0.009371555 0.003307607 0.003858875 0.016538037 FORECLOSURE Balance 0 > 0 0 1120951.31 1120951.31 % Balance 0 > 0 0 0.002535245 0.002535245 # Loans 0 > 0 0 3 3 % # Loans 0 > 0 0 0.001653804 0.001653804 BANKRUPTCY Balance 0 > 0 0 299436.05 299436.05 % Balance 0 > 0 0 0.000677232 0.000677232 # Loans 0 > 0 0 2 2 % # Loans 0 > 0 0 0.001102536 0.001102536 REO Balance 0 > 0 0 1040364.41 1040364.41 % Balance 0 > 0 0 0.002352983 0.002352983 # Loans 0 > 0 0 2 2 % # Loans 0 > 0 0 0.001102536 0.001102536 TOTAL Balance 0 > 3133877.28 1285552.43 4345334.82 8764764.53 % Balance 0 >0.007087862 0.002907522 0.009827804 0.019823188 # Loans 0 > 17 6 14 37 % # Loans 0 >0.009371555 0.003307607 0.007717751 0.020396913 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 October 25, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 1 Loan Group 1 >= Fixed Group; REO Book Value = Not Available Total Original Principal Balance = 400,000.00 Loan Group 2 > = Adjustable Group; REO Book Value = Not Available Total Current Balance = 397,377.80 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 2500013498 2 400000 397377.8 37288 > 0.06375CO - 94.29% 360 37265 Page 14 of 24 > (c) COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > ADJUSTABLE FIXED TOTAL Current Number of Paid in Full Loans > 38 5 43 Number of Repurchased Loans > 0 0 0 Total Number of Loans Prepaid in Full > 38 5 43 Paid in Full Balance > 9572819.98 246961.41 9819781.39 Repurchased Loans Balance > 0 0 0 Curtailments Amount > 234224.55 18244.4 252468.95 Total Prepayment Amount > 9807044.53 265205.81 10072250.34 Cumulative Number of Paid in Full Loans > 180 36 216 Number of Repurchased Loans > 3 0 3 Total Number of Loans Prepaid in Full > 183 36 219 Paid in Full Balance > 45216075.57 1698066.07 46914141.64 Repurchased Loans Balance > 446237.79 0 446237.79 Curtailments Amount > 564166.73 138946.19 703112.92 Total Prepayment Amount > 46226480.09 1837012.26 48063492.35 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 October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > ADJUSTABLE FIXED TOTAL SMM > 0.021699204 0.040951383 0.021971174 3 Months Avg SMM > 0.019251265 0.039024034 0.019536132 12 Months Avg SMM Avg SMM Since Cut-off > 0.012346847 0.031869417 0.01264468 CPR > 0.231455739 0.394537178 0.234015709 3 Months Avg CPR > 0.208058537 0.379773504 0.21081445 12 Months Avg CPR Avg CPR Since Cut-off > 0.138503628 0.322035001 0.141615934 PSA > 13.40524906 6.575619625 12.53662718 3 Months Avg PSA Approximation > 13.62169403 6.329558406 12.62293692 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 13.43100435 7.15633335 12.43004232 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 October 25, 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 October 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 43 > Loan Group 1 = Fixed Group Total Original Principal Balance = 9,915,850.00 > Loan Group 2 = Adjustable Group Total Prepayment Amount = 9,819,781.39 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 3900002819 1 50000 43806.35 > 37503 0.1325CA - 36.76% Paid Off - 18 35926 3900002828 1 44000 43092.07 > 37526 0.155NM - 44.90% Paid Off - 30 35930 3900002927 1 58000 49324.44 > 37523 0.135CA - 39.73% Paid Off - 18 35705 3900003000 1 65000 60234.33 > 37505 0.13CA - 38.24% Paid Off - 24 35734 3900003026 1 55000 50504.22 > 37505 0.1299CA - 31.25% Paid Off - 18 35851 1100340493 2 275500 273209.28 > 37511 0.065CA - 95.00% Paid Off - 36 37253 1100341195 2 202500 200795.83 > 37523 0.07CA - 90.00% Paid Off - 36 37252 1100343076 2 232750 231415.92 > 37529 0.0625CA - 87.84% Paid Off - 36 37298 1100343087 2 207000 205650.59 > 37523 0.0775CA - 90.00% Paid Off - 36 37265 1100343811 2 337500 334767.16 > 37509 0.05375AZ - 90.00% Paid Off - 36 37307 1100343816 2 665000 660150.1 > 37509 0.05CA - 70.00% Paid Off - 36 37309 1100343969 2 420000 416348.44 > 37503 0.05625CO - 70.00% Paid Off - 36 37286 1100345064 2 247000 244881.79 > 37519 0.0525CA - 89.82% Paid Off - 36 37265 1100345140 2 224950 223246.25 > 37519 0.05625CA - 89.98% Paid Off - 36 37292 1100345143 2 400000 396897.7 > 37510 0.055CA - 93.46% Paid Off - 36 37286 1100345229 2 223200 221973.59 > 37502 0.08CA - 80.00% Paid Off - 36 37265 1100345455 2 220500 219318.35 > 37508 0.08125CA - 90.00% Paid Off - 36 37263 1100345500 2 293400 291015.92 > 37504 0.0725CA - 90.00% Paid Off - 36 37280 1100345584 2 328000 325908.81 > 37512 0.0725CA - 80.00% Paid Off - 36 37265 1100345601 2 253600 252340.08 > 37502 0.085CA - 94.99% Paid Off - 36 37273 1100345627 2 336000 333074 > 37529 0.0475FL - 80.00% Paid Off - 36 37281 1100345677 2 337250 335245.73 > 37522 0.06875CA - 95.00% Paid Off - 36 37267 1100346731 2 170950 169993.82 > 37511 0.06375CA - 89.98% Paid Off - 36 37287 1100347218 2 215000 214020.32 > 37524 0.0825WA - 70.50% Paid Off - 36 37281 1100347289 2 218800 217315.67 > 37523 0.05375CA - 89.98% Paid Off - 36 37314 1100347678 2 274000 272015.59 > 37518 0.05875CA - 72.11% Paid Off - 36 37319 1100347921 2 231800 230572.97 > 37519 0.075CA - 79.99% Paid Off - 36 37301 1109003963 2 77600 77121.61 > 37516 0.05875CA - 80.00% Paid Off - 36 37291 1109004350 2 275000 273214.03 > 37518 0.05875CA - 64.71% Paid Off - 36 37285 1109004476 2 228000 226166.54 > 37526 0.055CA - 95.00% Paid Off - 36 37271 1109004757 2 398000 391162.5 > 37510 0.055MI - 66.56% Paid Off - 36 37287 1109005014 2 86400 85981.82 > 37502 0.0975MI - 90.00% Paid Off - 36 37316 1109005097 2 88000 87545.55 > 37529 0.07625HI - 80.00% Paid Off - 36 37315 2500012982 2 600300 596942.29 > 37523 0.06375FL - 46.18% Paid Off - 36 37266 2500013456 2 75900 75482.7 > 37523 0.0725IN - 95.00% Paid Off - 36 37251 2500013523 2 204210 200462 > 37522 0.075CA - 90.00% Paid Off - 36 37256 2500013658 2 115200 114493.84 > 37511 0.0675CA - 90.00% Paid Off - 36 37271 2500013897 2 202540 200734.91 > 37529 0.0475OR - 95.00% Paid Off - 36 37271 2500014157 2 140000 139050.24 > 37515 0.05375CA - 80.00% Paid Off - 36 37286 2500014286 2 189000 188188.22 > 37502 0.08625CA - 90.00% Paid Off - 36 37286 2500014640 2 294500 292880.83 > 37511 0.055CA - 95.00% Paid Off - 36 37298 2500014672 2 136000 135496.78 > 37512 0.085IL - 80.00% Paid Off - 36 37300 2500015080 2 218500 217738.21 > 37522 0.095CA - 95.00% Paid Off - 36 37315 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 October 25, 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 October 25, 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 October 25, 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 October 25, 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 October 2 >5, 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 > 1.8138% ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Current Net Mortgage Rate > 5.6572% 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 October 25, 2002 Distribution Other Related Information ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Total Derivative Payments > 64,148.40 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 > 12,399.85 IMP021F2 > 9,238.36 IMP021F3 > 4,337.83 IMP021F4 > 22,389.36 IMP021F5 > 1,715.63 IMP021F6 > 6,994.02 IMP021F7 > 7,073.34 Page 24 of 24 > (c) COPYRIGHT 2002 Deutsche Bank