8-K 1 im020111.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): November 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 November 25, 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: Dec 12, 2002 By: /s/ Katie Wannenmacher Katie Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of November 25, 2002. Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds November 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: November 25, > 2002 Underwriter(s): Countrywide Securities Co-Lea >d Underwriter Record Date: October 31 >, 2002 Greenwich Capital Markets, Inc. > Co-Lead Underwriter > Page 1 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Certificate Payment Report for November 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 >420966165.6 779372.08 8404241.802 9183613.882 0 > 0 412561923.8 B FLT 25000000 >22391817.32 78669.92 447034.1384 525704.0584 0 > 0 21944783.18 Cert 0 > 0 1125557.452 0 1125557.452 0 > 0 0 Total 495000000 >443357982.9 1983599.452 8851275.94 10834875.39 0 > 0 434506706.9 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 37554 37584 A-Act/360 4525 >4NCG0 470000000 895.6726927 1.658238468 17.88136554 19 >.539604 877.7913271 B 37554 37584 A-Act/360 4525 >4NCH8 25000000 895.6726928 3.1467968 17.88136554 21.0 >2816234 877.7913272 Cert 37554 37584 - > 0 0 0 0 > 0 0 > Page 2 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Certificate Payment Report for November 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 7335906.9 >53605327.75 3832748.489 57438076.24 64773983.14 0 > 0 412561923.8 B 25000000 738552.72 >2851347.221 203869.6005 3055216.821 3793769.541 0 > 0 21944783.18 Cert 0 12334038.84 > 0 0 0 12334038.84 0 > 0 0 Total 495000000 20408498.46 >56456674.97 4036618.09 60493293.06 80901791.52 0 > 0 434506706.9 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 0.0215 420966165.6 > 779372.08 0 0 0 779372.08 77 >9372.08 0 B 0.0408 22391817.32 > 78669.92 0 0 0 78669.92 7 >8669.92 0 Cert 0 > 0 0 0 0 1125557.452 1125 >557.452 0 Total 443357982.9 > 858042 0 0 0 1983599.452 1983 >599.452 0 > Page 3 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for November 25, 2002 Distribution Collection Account Report SUMMARY > ADJUSTABLE FIXED TOTAL Principal Collections > 8,588,295.39 262,980.55 8,851,275.94 Principal Withdrawals > 0.00 0.00 0.00 Principal Other Accounts > 0.00 0.00 0.00 TOTAL PRINCIPAL > 8,588,295.39 262,980.55 8,851,275.94 Interest Collections > 2,205,973.02 69,262.31 2,275,235.33 Interest Withdrawals > 0.00 0.00 0.00 Interest Other Accounts > 0.00 0.00 0.00 Interest Fees > (226,361.13) (1,274.83) (227,635.96) TOTAL INTEREST > 1,979,611.89 67,987.48 2,047,599.37 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 10,567,907.28 330,968.03 10,898,875.31 PRINCIPAL - COLLECTIONS > ADJUSTABLE FIXED TOTAL Scheduled Principal > 462,143.74 0.00 462,143.74 Curtailments > 84,672.02 16,870.24 101,542.26 Prepayments in Full > 7,765,447.42 246,110.31 8,011,557.73 Repurchases/Substitutions > 276,032.21 0.00 276,032.21 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 > (107,370.58) 0.00 (107,370.58) 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 > 107,370.58 0.00 107,370.58 TOTAL PRINCIPAL > 8,588,295.39 262,980.55 8,851,275.94 Page 4 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for November 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 > 2,240,135.45 72,350.50 2,312,485.95 Repurchases/Substitutions > 1,983.98 0.00 1,983.98 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 > (21,995.29) (1,740.13) (23,735.42) Relief Act Interest Shortfalls > 0.00 (291.25) (291.25) Delinquent Interest > (572,028.99) (50,478.38) (622,507.37) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 21,995.29 1,740.13 23,735.42 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 > 535,882.58 47,681.44 583,564.02 Cap Contract Payment Amt > 0.00 0.00 0.00 TOTAL INTEREST > 2,205,973.02 69,262.31 2,275,235.33 Page 5 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collection Account Report for November 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 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 > 63,999.92 Swap Contract Payment Amounts > 0.00 INTEREST - FEES > ADJUSTABLE FIXED TOTAL Owner Trustee Fee > 626.38 8.80 635.18 Indenture Trustee Fee > 1,842.28 25.88 1,868.16 Bond Insurance Premium Amount > 61,884.29 0.00 61,884.29 Radian PMI Insurance Premiums > 48,929.95 0.00 48,929.95 Current Servicing Fees > 113,078.23 1,240.15 114,318.38 TOTAL INTEREST FEES > 226,361.13 1,274.83 227,635.96 Page 6 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Credit Enhancement Report for November 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 > 1,125,557.45 Current Periods Overcollateralization Release > 0.00 60 Day Rolling Delinquency Amount > 6,094,481.52 90 Day Rolling Delinquency Amount > 4,560,565.23 Available Funds Rate > 5.1931% Page 7 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for November 25, 2002 Distribution Collateral Report COLLATERAL > ADJUSTABLE FIXED TOTAL Loan Count: Original > 1815 166 1981 Prior > 1814 130 1944 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -29 -5 -34 Repurchases > -1 0 -1 Liquidations > 0 0 0 Current > 1784 125 1909 Principal Balance: Original > 446375813.9 8048101.91 454423915.8 Prior > 442147075 6210907.84 448357982.9 Prefunding > 0 0 0 Scheduled Principal > -462143.74 0 -462143.74 Partial and Full Voluntary Prepayments > -7850119.44 -262980.55 -8113099.99 Repurchases > -276032.21 0 -276032.21 Liquidations > 0 0 0 Current > 433558779.7 5947927.29 439506706.9 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for November 25, 2002 Distribution Collateral Report CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Coupon Original > 0.065341562 0.138472315 0.066636748 Weighted Average Coupon Prior > 0.060947287 0.139634268 0.062057745 Weighted Average Coupon Current > 0.060851772 0.139787296 0.061945232 Weighted Average Months to Maturity Original > 359 172 355.7356177 Weighted Average Months to Maturity Prior > 352 167 349.4372756 Weighted Average Months to Maturity Current > 351 167 348.5098932 Weighted Avg Remaining Amortization Term Original > 358.2662104 167.2829155 354.9322934 Weighted Avg Remaining Amortization Term Prior > 351.3669736 162.4900177 348.7505434 Weighted Avg Remaining Amortization Term Current > 350.376795 162.8311724 347.8387046 Weighted Average Seasoning Original > 1.73378958 0 1.703523527 Weighted Average Seasoning Prior > 8.63302643 59.18350669 9.333280214 Weighted Average Seasoning Current > 9.62320504 60.12723917 10.30668567 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Collateral Report for November 25, 2002 Distribution Collateral Report ARM CHARACTERISTICS > ADJUSTABLE FIXED TOTAL Weighted Average Margin Original > 0.02905826 Weighted Average Margin Prior > 0.02903515 Weighted Average Margin Current > 0.02899043 Weighted Average Max Rate Original > 0.1304011 Weighted Average Max Rate Prior > 0.13022411 Weighted Average Max Rate Current > 0.13020477 Weighted Average Min Rate Original > 0.02992873 Weighted Average Min Rate Prior > 0.02993737 Weighted Average Min Rate Current > 0.02988685 Weighted Average Cap Up Original > 0.01007847 Weighted Average Cap Up Prior > 0.01006373 Weighted Average Cap Up Current > 0.01006275 Weighted Average Cap Down Original > 0.01007736 Weighted Average Cap Down Prior > 0.01006373 Weighted Average Cap Down Current > 0.01006275 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > ADJUSTABLE FIXED TOTAL Current Servicing Fees > 113,078.23 1,240.15 114,318.38 Delinquent Servicing Fees > 36,146.41 2,796.94 38,943.35 TOTAL SERVICING FEES > 149,224.64 4,037.09 153,261.73 Total Servicing Fees > 149,224.64 4,037.09 153,261.73 Compensating Interest > (21,995.29) (1,740.13) (23,735.42) Delinquent Servicing Fees > (36,146.41) (2,796.94) (38,943.35) COLLECTED SERVICING FEES > 91,082.94 (499.98) 90,582.96 Current PPIS > 21,995.29 1,740.13 23,735.42 Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 107,370.58 0.00 107,370.58 Total Advanced Interest For Current Payment Date > 535,882.58 47,681.44 583,564.02 TOTAL ADVANCES FOR CURRENT PERIOD > 643,253.16 47,681.44 690,934.60 ADDITIONAL COLLATERAL INFORMATION > ADJUSTABLE FIXED TOTAL SPACE INTENTIONALLY LEFT BLANK Page 10 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for November 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 3045300.13 2249133.33 721397.57 6015831.03 % Balance >0.006928905 0.005117404 0.00164138 0.013687689 # Loans > 15 12 5 32 % # Loans >0.007857517 0.006286014 0.002619172 0.016762703 FORECLOSURE Balance 211455.39 > 0 0 1675749.04 1887204.43 % Balance 0.00048112 > 0 0 0.003812795 0.004293915 # Loans 1 > 0 0 6 7 % # Loans 0.000523834 > 0 0 0.003143007 0.003666841 BANKRUPTCY Balance 84786.4 > 356955.97 169251.5 960154.19 1571148.06 % Balance 0.000192913 >0.000812174 0.000385094 0.002184618 0.003574799 # Loans 2 > 2 1 5 10 % # Loans 0.001047669 >0.001047669 0.000523834 0.002619172 0.005238345 REO Balance 0 > 0 0 1350821.13 1350821.13 % Balance 0 > 0 0 0.003073494 0.003073494 # Loans 0 > 0 0 3 3 % # Loans 0 > 0 0 0.001571503 0.001571503 TOTAL Balance 296241.79 > 3402256.1 2418384.83 4708121.93 10825004.65 % Balance 0.000674032 >0.007741079 0.005502498 0.010712287 0.024629896 # Loans 3 > 17 13 19 52 % # Loans 0.001571503 >0.008905186 0.006809848 0.009952855 0.027239392 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for November 25, 2002 Distribution Delinquency Report - Fixed Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 95038.85 43694.62 137072.06 275805.53 % Balance >0.015978482 0.007346193 0.023045349 0.046370024 # Loans > 2 1 3 6 % # Loans > 0.016 0.008 0.024 0.048 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 84786.4 > 0 0 85004.6 169791 % Balance 0.014254781 > 0 0 0.014291466 0.028546247 # Loans 2 > 0 0 1 3 % # Loans 0.016 > 0 0 0.008 0.024 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 84786.4 > 95038.85 43694.62 222076.66 445596.53 % Balance 0.014254781 >0.015978482 0.007346193 0.037336815 0.074916271 # Loans 2 > 2 1 4 9 % # Loans 0.016 > 0.016 0.008 0.032 0.072 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Delinquency Report for November 25, 2002 Distribution Delinquency Report - Adjustable Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2950261.28 2205438.71 584325.51 5740025.5 % Balance >0.006804755 0.005086827 0.001347742 0.013239325 # Loans > 13 11 2 26 % # Loans >0.007286996 0.006165919 0.001121076 0.014573991 FORECLOSURE Balance 211455.39 > 0 0 1675749.04 1887204.43 % Balance 0.00048772 > 0 0 0.003865102 0.004352823 # Loans 1 > 0 0 6 7 % # Loans 0.000560538 > 0 0 0.003363229 0.003923767 BANKRUPTCY Balance 0 > 356955.97 169251.5 875149.59 1401357.06 % Balance 0 >0.000823316 0.000390377 0.002018526 0.003232219 # Loans 0 > 2 1 4 7 % # Loans 0 >0.001121076 0.000560538 0.002242152 0.003923767 REO Balance 0 > 0 0 1350821.13 1350821.13 % Balance 0 > 0 0 0.003115659 0.003115659 # Loans 0 > 0 0 3 3 % # Loans 0 > 0 0 0.001681614 0.001681614 TOTAL Balance 211455.39 > 3307217.25 2374690.21 4486045.27 10379408.12 % Balance 0.00048772 >0.007628071 0.005477205 0.010347029 0.023940025 # Loans 1 > 15 12 15 43 % # Loans 0.000560538 >0.008408072 0.006726457 0.008408072 0.024103139 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 REO Report for November 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 = 313,500.00 Loan Group 2 > = Adjustable Group; REO Book Value = Not Available Total Current Balance = 311,416.75 REO Book Value = Not Available REO Book Value reported corresponds to total REO loans, including loans that be >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 1100345694 2 313500 311416.75 37408 > 0.07625MO - 95.00% 360 37271 Page 14 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > ADJUSTABLE FIXED TOTAL Current Number of Paid in Full Loans > 29 5 34 Number of Repurchased Loans > 1 0 1 Total Number of Loans Prepaid in Full > 30 5 35 Paid in Full Balance > 7765447.42 246110.31 8011557.73 Repurchased Loans Balance > 276032.21 0 276032.21 Curtailments Amount > 84672.02 16870.24 101542.26 Total Prepayment Amount > 8126151.65 262980.55 8389132.2 Cumulative Number of Paid in Full Loans > 209 41 250 Number of Repurchased Loans > 4 0 4 Total Number of Loans Prepaid in Full > 213 41 254 Paid in Full Balance > 52981522.99 1944176.38 54925699.37 Repurchased Loans Balance > 722270 0 722270 Curtailments Amount > 648838.75 155816.43 804655.18 Total Prepayment Amount > 54352631.74 2099992.81 56452624.55 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > ADJUSTABLE FIXED TOTAL SMM > 0.018398073 0.042341725 0.018730096 3 Months Avg SMM > 0.019562331 0.040515287 0.019857991 12 Months Avg SMM Avg SMM Since Cut-off > 0.013021044 0.033038639 0.013322697 CPR > 0.199751577 0.40498654 0.202993714 3 Months Avg CPR > 0.211067465 0.391225129 0.213917658 12 Months Avg CPR Avg CPR Since Cut-off > 0.145534137 0.331795429 0.148662706 PSA > 10.3786408 6.749775672 9.847671703 3 Months Avg PSA Approximation > 12.22634594 6.520418822 11.46323926 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 12.87352421 7.109902057 11.97201387 Fixed Adjustable CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 16 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Report for November 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,W >ASm)/(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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Prepayment Detail Report for November 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 35 > Loan Group 1 = Fixed Group Total Original Principal Balance = 8,403,000.00 > Loan Group 2 = Adjustable Group Total Prepayment Amount = 8,287,589.94 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 3900002794 1 50000 42916.13 > 37552 0.125CA - 11.11% Paid Off - 18 35852 3900002914 1 65200 53769.35 > 37531 0.125WI - 46.57% Paid Off - 18 35727 3900002938 1 50000 42536.08 > 37538 0.1299NV - 44.64% Paid Off - 18 35705 3900002994 1 75000 58042.07 > 37539 0.135HI - 23.08% Paid Off - 18 35727 3900003019 1 52000 48846.68 > 37546 0.1499IA - 68.42% Paid Off - 24 35851 1100342005 2 159800 158899.76 > 37560 0.07875CA - 29.33% Paid Off - 36 37293 1100343295 2 364000 360684.93 > 37531 0.05375CA - 89.88% Paid Off - 36 37294 1100343307 2 249000 247832.24 > 37547 0.09375MN - 87.37% Paid Off - 36 37285 1100343440 2 317600 314211.72 > 37550 0.0625CA - 80.00% Paid Off - 36 37258 1100343758 2 577500 569537.71 > 37539 0.05125HI - 70.00% Paid Off - 36 37267 1100343795 2 100000 99291.13 > 37545 0.07875CO - 73.00% Paid Off - 36 37316 1100343799 2 320000 317339.29 > 37536 0.065CA - 65.85% Paid Off - 36 37308 1100343805 2 267400 264277.07 > 37538 0.05875CA - 68.57% Paid Off - 36 37312 1100344031 2 380000 377522.85 > 37559 0.0775HI - 95.00% Paid Off - 36 37314 1100344599 2 251100 249548.26 > 37551 0.07375CA - 90.00% Paid Off - 36 37280 1100344638 2 111500 110959.9 > 37550 0.08625UT - 89.92% Paid Off - 36 37279 1100344923 2 294500 291881.16 > 37537 0.055CA - 95.00% Paid Off - 36 37256 1100345424 2 340000 335556.3 > 37543 0.04625FL - 47.89% Paid Off - 36 37253 1100345599 2 128000 126736.76 > 37553 0.0575UT - 80.00% Paid Off - 36 37267 1100345673 2 260500 258808.09 > 37545 0.07125CA - 87.72% Paid Off - 36 37270 1100346981 2 153750 152189 > 37533 0.045OH - 75.00% Paid Off - 36 37274 1109004100 2 304000 301701.43 > 37533 0.075CA - 95.00% Paid Off - 36 37256 1109004127 2 310650 308581.97 > 37545 0.07CA - 95.00% Paid Off - 36 37284 1109004883 2 320000 317518.11 > 37532 0.055CA - 76.20% Paid Off - 36 37307 2500012872 2 234950 233488.56 > 37547 0.07375MI - 80.00% Paid Off - 36 37274 2500013472 2 212400 210829.16 > 37559 0.0575CT - 90.00% Paid Off - 36 37267 2500013600 2 202500 201146.86 > 37536 0.07625WA - 90.00% Paid Off - 36 37260 2500013648 2 223100 221779.1 > 37532 0.07625CA - 97.00% Paid Off - 36 37286 2500013754 2 129000 128239.01 > 37537 0.0825GA - 95.00% Paid Off - 36 37258 2500014025 2 495000 490411.74 > 37537 0.05FL - 90.00% Paid Off - 36 37281 2500014121 2 215000 213007.13 > 37560 0.05CA - 68.26% Paid Off - 36 37295 2500014198 2 203700 202444.26 > 37537 0.05875CA - 94.97% Paid Off - 36 37300 2500014205 2 381000 378387.35 > 37558 0.06875IN - 76.20% Paid Off - 36 37286 2500014289 2 325850 322636.57 > 37547 0.0525CA - 95.00% Paid Off - 36 37292 1109004706 2 279000 276032.21 > 37561 0.08625CO - 90.00% Repur/Subs - 37287 Page > 18 of 24 COPYRIGHT 2002 Deutsc >he Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for November 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for November 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 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Report for November 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 mo >nths 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 prior period >s. Dates correspond to distribution dates. Page 21 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Realized Loss Detail Report for November 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 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 November >25, 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 > 1.8300% ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Current Net Mortgage Rate > 5.6467% Page 23 of 24 > COPYRIGHT 2002 Deutsche Bank Impac CMB Trust 2002-1 Collateralized Asset-Backed Bonds Series 2002-1 Other Related Information for November 25, 2002 Distribution Other Related Information ADDITIONAL INFORMATION > ADJUSTABLE FIXED TOTAL Total Derivative Payments > 63,999.92 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 > 12,413.83 IMP021F2 > 9,118.41 IMP021F3 > 4,307.75 IMP021F4 > 22,518.98 IMP021F5 > 1,624.51 IMP021F6 > 6,965.13 IMP021F7 > 7,051.31 Page 24 of 24 > COPYRIGHT 2002 Deutsche Bank