-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UVP5nRzmcFnGkd1GL/tbYozXDp4mQz78tPzoL71G5k7WjwgbAps1ADPnu6vsz72w IinjSCz+OznxV9FyR1b5Wg== 0001020242-02-000299.txt : 20021030 0001020242-02-000299.hdr.sgml : 20021030 20021030101001 ACCESSION NUMBER: 0001020242-02-000299 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020625 ITEM INFORMATION: Other events FILED AS OF DATE: 20021030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPAC SECURED ASSETS CORP CENTRAL INDEX KEY: 0001018905 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330715871 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-08439 FILM NUMBER: 02802169 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA NA STREET 2: 1761 EAST ST ANDREW PLACE CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: 7142476271 MAIL ADDRESS: STREET 1: 1761 EAST ST ANDREW PLACE CITY: SANTA ANA STATE: CA ZIP: 92705 FORMER COMPANY: FORMER CONFORMED NAME: ICIFC SECURED ASSETS CORP DATE OF NAME CHANGE: 19960716 8-K/A 1 im02s18k5.txt IMPAC SECURED ASSETS CORP. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 25, 2002 IMPAC SECURED ASSETS CORP. (as company (the "Company"), Impac Funding Corporation, as master servicer (the "Master Servicer"), and Bankers Trust Company of California, N.A., as trustee). IMPAC SECURED ASSETS CORP (Exact name of Registrant as specified in its Charter) CALIFORNIA (State or Other Jurisdiction of Incorporation) 333-66328 33-0715871 (Commission File Number) (I.R.S. Employer Identification No.) 1401 DOVE STREET NEWPORT BEACH 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 June 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 Pooling and Servicing Agreement, dated as of January 1, 2002. Date: October 28, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of June 25, 2002. IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates June 25, 2002 Distribution Contents TABLE OF CONTENTS > Page 1. Contents > 1 2. Certificate Payment > Report 2 3. Collection Account >Report 8 4. Credit Enhancement >Report 11 5. Collateral Report > 12 6. Delinquency Report > 15 7. REO Report > 18 8. Prepayment Report > 19 9. Prepayment Detail R >eport 22 10. Realized Loss Repor >t 23 11. Realized Loss Detai >l Report 26 12. Triggers, Adj. Rate > Cert. and Miscellaneous Report 27 13. Additional Certific >ate Report 28 Total Number of Pag >es 28 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 Secured Asset Corp. > Cut-Off Date: January 1, >2002 Certificate Insurer(s): > Closing Date: January 31 >, 2002 > First Payment Date: February 25, 20 >02 Servicer(s): Impac Funding Corporation Mas >ter Servicer GMAC Sub-Servicer > Distribution Date: June 25, 200 >2 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: May 31, 20 >02 > Page 1 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for June 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) LT1A 173248268.9 >167478894.4 1096567.55 2973084.192 4069651.742 0 > 0 164505810.2 LT1B 1194.11 > 1166.5912 7.92 14.3567 22.2767 0 > 0 1152.2345 LT1C 538.39 > 532.7756 3.2 2.9012 6.1012 0 > 0 529.8744 LT1D 20000000 > 20000000 130949.94 0 130949.94 0 > 0 20000000 LT1E 5000000 > 5000000 32737.48 0 32737.48 0 > 0 5000000 LT1F 1750000 > 1750000 11458.12 0 11458.12 0 > 0 1750000 LT1P 100 > 100 4994.3 0 4994.3 0 > 0 100 R-1 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >194230693.7 1276718.51 2973101.45 4249819.96 0 > 0 191257592.3 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) LT1A F-30/360 > 173248268.9 966.6988045 6.329457473 17.16083059 23.4 >9028806 949.5379739 LT1B F-30/360 > 1194.11 976.9545519 6.63255479 12.02292921 18 >.655484 964.9316227 LT1C F-30/360 > 538.39 989.5718717 5.943646799 5.388658779 11.3 >3230558 984.1832129 LT1D F-30/360 > 20000000 1000 6.547497 0 6 >.547497 1000 LT1E F-30/360 > 5000000 1000 6.547496 0 6 >.547496 1000 LT1F F-30/360 > 1750000 1000 6.547497143 0 6.54 >7497143 1000 LT1P F-30/360 > 100 1000 49943 0 > 49943 1000 R-1 F-30/360 > 0 0 0 0 > 0 0 > Page 2 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for June 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) LT1A 173248268.9 5591380.45 > 8028350.88 714107.8005 8742458.681 14333839.13 0 > 0 164505810.2 LT1B 1194.11 40.05 > 38.46 3.4154 41.8754 81.9254 0 > 0 1152.2345 LT1C 538.39 16.2 > 7.83 0.6857 8.5157 24.7157 0 > 0 529.8744 LT1D 20000000 655045.83 > 0 0 0 655045.83 0 > 0 20000000 LT1E 5000000 163761.45 > 0 0 0 163761.45 0 > 0 5000000 LT1F 1750000 57316.52 > 0 0 0 57316.52 0 > 0 1750000 LT1P 100 12552.78 > 0 0 0 12552.78 0 > 0 100 R-1 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 6480113.28 > 8028397.17 714111.9016 8742509.072 15222622.35 0 > 0 191257592.3 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) LT1A 0.078569963 167478894.4 > 1096567.55 0 0 0 1096567.55 109 >6567.55 0 LT1B 0.081421865 1166.5912 > 7.92 0 0 0 7.92 > 7.92 0 LT1C 0.072124684 532.7756 > 3.2 0 0 0 3.2 > 3.2 0 LT1D 0.078569963 20000000 > 130949.94 0 0 0 130949.94 13 >0949.94 0 LT1E 0.078569963 5000000 > 32737.48 0 0 0 32737.48 3 >2737.48 0 LT1F 0.078569963 1750000 > 11458.12 0 0 0 11458.12 1 >1458.12 0 LT1P 0.078569963 100 > 0.65 0 0 0 0.65 > 4994.3 0 R-1 0 > 0 0 0 0 0 > 0 0 Total 194230693.7 > 1271724.86 0 0 0 1271724.86 127 >6718.51 0 > Page 3 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for June 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) LT2-1AA 135091675 >131958334.9 746625.14 2169222.36 2915847.5 0 > 0 129789112.5 LT2-AI1 308000 > 270938.08 1532.98 23554.33 25087.31 0 > 0 247383.75 LT2-AI2 179000 > 179000 1012.79 0 1012.79 0 > 0 179000 LT2-AI3 191000 > 191000 1080.69 0 1080.69 0 > 0 191000 LT2-AI4 255000 > 255000 1442.8 0 1442.8 0 > 0 255000 LT2-AI5 100000 > 100000 565.8 0 565.8 0 > 0 100000 LT2-AI6 252440 > 252440 1428.31 0 1428.31 0 > 0 252440 LT2-1M1 41354.3473 > 41354.3473 233.98 0 233.98 0 > 0 41354.3473 LT2-1M2 27569.5648 > 27569.5648 155.99 0 155.99 0 > 0 27569.5648 LT2-1B 24123.3692 > 24123.3692 136.49 0 136.49 0 > 0 24123.3692 LT2-1ZZ 1378486.49 >1351602.703 6228.01 22134.92 28362.93 0 14 >19.4053 1330887.188 LT2-2AA 60908326.36 >58387646.96 330359.46 744417.07 1074776.53 0 > 0 57643229.89 LT2-AII 579560 > 550968.82 3117.4 8083.19 11200.59 0 > 0 542885.63 LT2-2M1 18645.6527 > 18645.6527 105.5 0 105.5 0 > 0 18645.6527 LT2-2M2 12430.4352 > 12430.4352 70.33 0 70.33 0 > 0 12430.4352 LT2-2B 10876.6308 > 10876.6308 61.54 0 61.54 0 > 0 10876.6308 LT2-2ZZ 621513.54 >598662.2875 2900.15 7596.09 10496.24 0 4 >87.1006 591553.2982 LT2A-IO 0 > 0 172760.42 0 172760.42 0 > 0 0 LT2P 100 > 100 4994.22 0 4994.22 0 > 0 100 R-2 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >194230693.8 1274812 2975007.96 4249819.96 0 19 >06.5059 191257592.3 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) LT2-1AA F-30/360 > 135091675 976.8058241 5.526803485 16.05740961 21. >5842131 960.7484145 LT2-AI1 F-30/360 > 308000 879.6690909 4.977207792 76.4750974 81.4 >5230519 803.1939935 LT2-AI2 F-30/360 > 179000 1000 5.658044693 0 5.65 >8044693 1000 LT2-AI3 F-30/360 > 191000 1000 5.658062827 0 5.65 >8062827 1000 LT2-AI4 F-30/360 > 255000 1000 5.658039216 0 5.65 >8039216 1000 LT2-AI5 F-30/360 > 100000 1000 5.658 0 > 5.658 1000 LT2-AI6 F-30/360 > 252440 1000 5.658017747 0 5.65 >8017747 1000 LT2-1M1 F-30/360 > 41354.3473 1000 5.657929946 0 5.65 >7929946 1000 LT2-1M2 F-30/360 > 27569.5648 1000 5.658050866 0 5.65 >8050866 1000 LT2-1B F-30/360 > 24123.3692 1000 5.657999049 0 5.65 >7999049 1000 LT2-1ZZ F-30/360 > 1378486.49 980.4976058 4.518005831 16.05740801 20.5 >7541384 965.4698817 LT2-2AA F-30/360 > 60908326.36 958.6151919 5.423880112 12.2219262 17.6 >4580632 946.3932657 LT2-AII F-30/360 > 579560 950.6674374 5.378908137 13.94711505 19.3 >2602319 936.7203223 LT2-2M1 F-30/360 > 18645.6527 1000 5.658155373 0 5.65 >8155373 1000 LT2-2M2 F-30/360 > 12430.4352 1000 5.657887183 0 5.65 >7887183 1000 LT2-2B F-30/360 > 10876.6308 1000 5.658002109 0 5.65 >8002109 1000 LT2-2ZZ F-30/360 > 621513.54 963.2328967 4.666270022 12.22192199 16.8 >8819201 951.7947078 LT2A-IO F-30/360 > 26750000 1000 6.458333458 0 6.45 >8333458 1000 LT2P F-30/360 > 100 1000 49942.2 0 >49942.2 1000 R-2 F-30/360 > 0 0 0 0 > 0 0 > Page 4 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for June 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) LT2-1AA 135091675 3790541.67 > 4848911.54 453650.9 5302562.44 9093104.11 0 > 0 129789112.5 LT2-AI1 308000 8219.46 > 55380.23 5236.02 60616.25 68835.71 0 > 0 247383.75 LT2-AI2 179000 5079.55 > 0 0 0 5079.55 0 > 0 179000 LT2-AI3 191000 5420.09 > 0 0 0 5420.09 0 > 0 191000 LT2-AI4 255000 7236.25 > 0 0 0 7236.25 0 > 0 255000 LT2-AI5 100000 2837.74 > 0 0 0 2837.74 0 > 0 100000 LT2-AI6 252440 7163.6 > 0 0 0 7163.6 0 > 0 252440 LT2-1M1 41354.3473 1173.52 > 0 0 0 1173.52 0 > 0 41354.3473 LT2-1M2 27569.5648 782.35 > 0 0 0 782.35 0 > 0 27569.5648 LT2-1B 24123.3692 684.56 > 0 0 0 684.56 0 > 0 24123.3692 LT2-1ZZ 1378486.49 32252.4 > 49478.67 4629.1 54107.77 86360.17 0 65 >08.4683 1330887.188 LT2-2AA 60908326.36 1701142 > 3019839.59 245256.88 3265096.47 4966238.47 0 > 0 57643229.89 LT2-AII 579560 16135.12 > 33837.99 2836.38 36674.37 52809.49 0 > 0 542885.63 LT2-2M1 18645.6527 529.12 > 0 0 0 529.12 0 > 0 18645.6527 LT2-2M2 12430.4352 352.75 > 0 0 0 352.75 0 > 0 12430.4352 LT2-2B 10876.6308 308.65 > 0 0 0 308.65 0 > 0 10876.6308 LT2-2ZZ 621513.54 14034.46 > 30814.69 2502.62 33317.31 47351.77 0 33 >57.0682 591553.2982 LT2A-IO 0 863802.1 > 0 0 0 863802.1 0 > 0 0 LT2P 100 12552.35 > 0 0 0 12552.35 0 > 0 100 R-2 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 6470247.74 > 8038262.71 714111.9 8752374.61 15222622.35 0 98 >65.5365 191257592.3 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) LT2-1AA 0.067896444 131958334.9 > 746625.14 0 0 0 746625.14 74 >6625.14 0 LT2-AI1 0.067896444 270938.08 > 1532.98 0 0 0 1532.98 >1532.98 0 LT2-AI2 0.067896444 179000 > 1012.79 0 0 0 1012.79 >1012.79 0 LT2-AI3 0.067896444 191000 > 1080.69 0 0 0 1080.69 >1080.69 0 LT2-AI4 0.067896444 255000 > 1442.8 0 0 0 1442.8 > 1442.8 0 LT2-AI5 0.067896444 100000 > 565.8 0 0 0 565.8 > 565.8 0 LT2-AI6 0.067896444 252440 > 1428.31 0 0 0 1428.31 >1428.31 0 LT2-1M1 0.067896444 41354.3473 > 233.98 0 0 0 233.98 > 233.98 0 LT2-1M2 0.067896444 27569.5648 > 155.99 0 0 0 155.99 > 155.99 0 LT2-1B 0.067896444 24123.3692 > 136.49 0 0 0 136.49 > 136.49 0 LT2-1ZZ 0.067896444 1351602.703 > 7647.42 0 0 1419.4053 6228.0147 76 >47.4153 0 LT2-2AA 0.067896444 58387646.96 > 330359.46 0 0 0 330359.46 33 >0359.46 0 LT2-AII 0.067896444 550968.82 > 3117.4 0 0 0 3117.4 > 3117.4 0 LT2-2M1 0.067896444 18645.6527 > 105.5 0 0 0 105.5 > 105.5 0 LT2-2M2 0.067896444 12430.4352 > 70.33 0 0 0 70.33 > 70.33 0 LT2-2B 0.067896444 10876.6308 > 61.54 0 0 0 61.54 > 61.54 0 LT2-2ZZ 0.067896444 598662.2875 > 3387.25 0 0 487.1006 2900.1494 33 >87.2506 0 LT2A-IO 0.0775 26750000 > 172760.42 0 0 0 172760.42 17 >2760.42 0 LT2P 0.067896444 100 > 0.57 0 0 0 0.57 >4994.22 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 220980693.8 > 1271724.86 0 0 1906.5059 1269818.354 1276 >718.506 0 > Page 5 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for June 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-I-1 FLT 30800000 >27093808.09 43621.03 2355433.146 2399054.176 0 > 0 24738374.94 A-I-2 AFC, SEQ 17900000 > 17900000 68467.5 0 68467.5 0 > 0 17900000 A-I-3 AFC, SEQ 19100000 > 19100000 88655.83 0 88655.83 0 > 0 19100000 A-I-4 STEP,AFC 25500000 > 25500000 133662.5 0 133662.5 0 > 0 25500000 A-I-5 STEP,AFC 10000000 > 10000000 56250 0 56250 0 > 0 10000000 A-I-6 STEP,AFC 25244000 > 25244000 147887.77 0 147887.77 0 > 0 25244000 A-II STEP,AFC 57956000 >55096880.95 298441.44 808319.4536 1106760.894 0 > 0 54288561.5 A-IO IO,NTL,DRB 0 > 0 172760.42 0 172760.42 0 > 0 0 M-1 MEZ,STEP,AF 6000000 > 6000000 35000 0 35000 0 > 0 6000000 M-2 MEZ,STEP,AF 4000000 > 4000000 23333.34 0 23333.34 0 > 0 4000000 B MEZ,STEP,AF 3500000 > 3500000 20416.67 0 20416.67 0 > 0 3500000 C SUB 1.36 >795904.7116 0 0 0 0 19 >0651.15 986555.8616 P SUB 100 > 100 4993.65 0 4993.65 0 > 0 100 R-3 R 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >194230693.8 1093490.15 3163752.6 4257242.75 0 19 >0651.15 191257592.3 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-I-1 37404 37431 F-30/360 4525 >4TKM5 30800000 879.6690937 1.416267208 76.47510216 77.8 >9136936 803.1939916 A-I-2 F-30/360 4525 >4TKN3 17900000 1000 3.825 0 > 3.825 1000 A-I-3 F-30/360 4525 >4TKP8 19100000 1000 4.641666492 0 4.64 >1666492 1000 A-I-4 F-30/360 4525 >4TKQ6 25500000 1000 5.241666667 0 5.24 >1666667 1000 A-I-5 F-30/360 4525 >4TKR4 10000000 1000 5.625 0 > 5.625 1000 A-I-6 F-30/360 4525 >4TKX1 25244000 1000 5.858333465 0 5.85 >8333465 1000 A-II F-30/360 4525 >4TKS2 57956000 950.6674193 5.149448547 13.94712288 19.0 >9657143 936.7202964 A-IO F-30/360 4525 >4TKT0 26750000 1000 6.458333458 0 6.45 >8333458 1000 M-1 F-30/360 4525 >4TKU7 6000000 1000 5.833333333 0 5.83 >3333333 1000 M-2 F-30/360 4525 >4TKV5 4000000 1000 5.833335 0 5 >.833335 1000 B F-30/360 4525 >4TKW3 3500000 1000 5.833334286 0 5.83 >3334286 1000 C F-30/360 4525 >4TKZ6 200000101.4 975.1324981 0 0 > 0 961.2202536 P F-30/360 4525 >4TKY9 100 1000 49936.5 0 >49936.5 1000 R-3 F-30/360 4525 >4TLA0 0 0 0 0 > 0 0 > Page 6 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for June 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-I-1 30800000 242684.93 > 5610484.85 451140.2105 6061625.06 6304309.99 0 > 0 24738374.94 A-I-2 17900000 342337.5 > 0 0 0 342337.5 0 > 0 17900000 A-I-3 19100000 443279.15 > 0 0 0 443279.15 0 > 0 19100000 A-I-4 25500000 668312.5 > 0 0 0 668312.5 0 > 0 25500000 A-I-5 10000000 281250 > 0 0 0 281250 0 > 0 10000000 A-I-6 25244000 739438.84 > 0 0 0 739438.84 0 > 0 25244000 A-II 57956000 1539887.89 >3404466.792 262971.7095 3667438.501 5207326.391 0 > 0 54288561.5 A-IO 0 863802.1 > 0 0 0 863802.1 0 > 0 0 M-1 6000000 175000 > 0 0 0 175000 0 > 0 6000000 M-2 4000000 116666.68 > 0 0 0 116666.68 0 > 0 4000000 B 3500000 102083.34 > 0 0 0 102083.34 0 > 0 3500000 C 1.36 0 > 0 0 0 0 0 9 >86554.5 986555.8616 P 100 12549.5 > 0 0 0 12549.5 0 > 0 100 R-3 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 5527292.43 >9014951.642 714111.92 9729063.562 15256355.99 0 9 >86554.5 191257592.3 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-I-1 0.0207 27093808.09 > 43621.03 0 0 0 43621.03 4 >3621.03 0 A-I-2 0.0459 17900000 > 68467.5 0 0 0 68467.5 >68467.5 0 A-I-3 0.0557 19100000 > 88655.83 0 0 0 88655.83 8 >8655.83 0 A-I-4 0.0629 25500000 > 133662.5 0 0 0 133662.5 1 >33662.5 0 A-I-5 0.0675 10000000 > 56250 0 0 0 56250 > 56250 0 A-I-6 0.067896444 25244000 > 142831.49 0 0 5056.28 142831.49 14 >7887.77 0 A-II 0.065 55096880.95 > 298441.44 0 0 0 298441.44 29 >8441.44 0 A-IO 0.0775 26750000 > 172760.42 0 0 0 172760.42 17 >2760.42 0 M-1 0.067896444 6000000 > 33948.22 0 0 1051.78 33948.22 > 35000 0 M-2 0.067896444 4000000 > 22632.15 0 0 701.19 22632.15 2 >3333.34 0 B 0.067896444 3500000 > 19803.13 0 0 613.54 19803.13 2 >0416.67 0 C 0.011778846 195026598.5 > 190651.11 0 0 0 190651.11 19 >0651.15 190651.11 P 100 > 0 0 0 0 4993.65 >4993.65 0 R-3 0 > 0 0 0 0 0 > 0 0 Total 415211387.5 > 1271724.82 0 0 7422.79 1276718.47 12 >84141.3 190651.11 > Page 7 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report SUMMARY > GROUP 2 GROUP 1 TOTAL Principal Collections > 759,609.25 2,213,492.20 2,973,101.45 Other Principal Deposits > 0.00 0.00 0.00 TOTAL NET PRINCIPAL > 759,609.25 2,213,492.20 2,973,101.45 Interest Collections > 363,707.09 936,627.93 1,305,328.67 Interest Withdrawals > 0.00 0.00 0.00 Interest Fees > (4,881.60) (16,305.77) (21,187.37) TOTAL NET INTEREST > 358,825.49 920,322.16 1,284,141.30 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 1,118,434.74 3,133,814.36 4,257,242.75 PRINCIPAL - COLLECTIONS > GROUP 2 GROUP 1 TOTAL Scheduled Principal > 53,844.72 101,272.21 155,116.93 Curtailments > 41,869.72 38,485.36 80,355.08 Prepayments In Full > 663,894.81 2,073,734.63 2,737,629.44 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidations > 0.00 0.00 0.00 Insurance Principal > 0.00 0.00 0.00 Other Principal > 0.00 0.00 0.00 Delinquent Principal > (42,571.41) (78,005.09) (120,576.50) Total Realized Loss Of Principal > 0.00 0.00 0.00 Pre-funding Principal Paid > 0.00 0.00 0.00 Principal Advanced > 42,571.41 78,005.09 120,576.50 TOTAL PRINCIPAL COLLECTED > 759,609.25 2,213,492.20 2,973,101.45 Page 8 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK INTEREST - COLLECTIONS > GROUP 2 GROUP 1 TOTAL Scheduled Interest > 374,088.51 954,467.87 1,328,556.38 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidation Interest > 0.00 0.00 0.00 Insurance Interest > 0.00 0.00 0.00 Other Interest > 0.00 0.00 0.00 Prepayment Interest Shortfalls > (2,179.53) (6,588.33) (8,767.86) Delinquent Interest > (301,616.10) (749,195.47) (1,050,811.57) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 2,179.53 6,588.33 8,767.86 Civil Relief Act Shortfalls > 0.00 0.00 0.00 Prepayment Premiums > 0.00 0.00 4,993.65 Pre-funding Intererst Coverage > 0.00 0.00 0.00 Interest Advanced > 290,508.76 724,658.66 1,015,167.42 Net WAC Shortfall > 725.92 6,696.87 7,422.79 TOTAL INTEREST COLLECTED > 363,707.09 936,627.93 1,305,328.67 Page 9 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report INTEREST - WITHDRAWALS > GROUP 2 GROUP 1 TOTAL Undistributed Receipts on Repurchased Loans > 0.00 0.00 0.00 Reimburse Advances from Late Collections > 0.00 0.00 0.00 Reimbursement for Expenses > 0.00 0.00 0.00 Reimbursements to Sub-Servicer > 0.00 0.00 0.00 Reimburse Fees and Advances from Late Collections > 0.00 0.00 0.00 Interest Earnings on the Custodial Account > 0.00 0.00 0.00 Prev. Unreimbursed P&I Advances > 0.00 0.00 0.00 Prev. Unreimbursed Servicing Advances > 0.00 0.00 0.00 TOTAL INTEREST WITHDRAWALS > 0.00 0.00 0.00 INTEREST - OTHER ACCOUNTS > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK INTEREST - FEES > GROUP 2 GROUP 1 TOTAL Radian PMI Fee > 1,590.42 8,302.01 9,892.43 Trustee Fee Amount > 496.50 1,122.09 1,618.59 Extraordinary Trust Fund Expenses > 0.00 0.00 0.00 Current Servicing Fees > 13,902.02 31,418.48 45,320.50 Delinquent Servicing Fees > (11,107.34) (24,536.81) (35,644.15) TOTAL INTEREST OTHER FEES > 4,881.60 16,305.77 21,187.37 Page 10 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Credit Enhancement Report for June 25, 2002 Distribution Credit Enhancement Report ACCOUNTS > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK STRUCTURAL FEATURES > GROUP 2 GROUP 1 TOTAL Overcollateralization Amount > 986,555.86 Excess Overcollateralized Amount > 0.00 Overcollateralization Release Amount > 0.00 Overcollateralization Deficiency Amount > 204,095.29 Overcollateralization Target Amount > 1,000,000.00 Page 11 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report COLLATERAL > GROUP 2 GROUP 1 TOTAL Loan Count: Original > 120 695 815 Prior > 145 872 1017 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -2 -12 -14 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 143 860 1003 Principal Balance: Original > 48517658.43 107380483.9 155898142.4 Prior > 59580085.49 134650608.3 194230693.8 Prefunding > 0 0 0 Scheduled Principal > -53844.72 -101272.21 -155116.93 Partial and Full Voluntary Prepayments > -705764.53 -2112219.99 -2817984.52 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 58820476.24 132437116.1 191257592.3 PREFUNDING > GROUP 2 GROUP 1 TOTAL PRE-FUNDING ACCOUNT Beginning Pre-Funded Amount > 0.00 Balance of Subsequent Mortgage Loans added this period > 0.00 Withdrawal remaining amounts > 0.00 Pre-Funding Account Ending Balance > 0.00 INTEREST COVERAGE ACCOUNT Beginning Interest Coverage Amount > 735,957.61 Interest Coverage withdrawn to support certificates > 0.00 Interest Coverage withdrawn from account > 735,957.61 Ending Interest Coverage Amount > 0.00 Group 1 Group 2 Current Prin Balance by Groups (in millions of dollars) Tota >l Current Principal Balance (in millions of dollars) Page 12 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report CHARACTERISTICS > GROUP 2 GROUP 1 TOTAL Weighted Average Coupon Original > 0.076153553 0.084312099 0.081773046 Weighted Average Coupon Prior > 0.075560566 0.085104153 0.082166335 Weighted Average Coupon Current > 0.07534501 0.085061736 0.082081139 Weighted Average Months to Maturity Original > 344 340 341.2496346 Weighted Average Months to Maturity Prior > 343 337 338.8404944 Weighted Average Months to Maturity Current > 341 335 336.845275 Weighted Avg Remaining Amortization Term Original > 345.1975174 348.1456083 347.2245992 Weighted Avg Remaining Amortization Term Prior > 344.7059787 345.5218083 345.2715534 Weighted Avg Remaining Amortization Term Current > 342.8890236 343.9916718 343.6525569 Weighted Average Seasoning Original > 1.84278944 1.99128947 1.944896778 Weighted Average Seasoning Prior > 4.39992733 4.52911331 4.48948563 Weighted Average Seasoning Current > 5.36844162 5.509668 5.466234415 Note: Original information refers to deal issue. Group 1 Group 2 WAC by Groups Tota >l WAC WARAT by Groups Tota >l WARAT Note: Dates correspond to distribution dates. Page 13 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report ARM CHARACTERISTICS > GROUP 2 GROUP 1 TOTAL Weighted Average Margin Original Weighted Average Margin Prior Weighted Average Margin Current Weighted Average Max Rate Original Weighted Average Max Rate Prior Weighted Average Max Rate Current Weighted Average Min Rate Original Weighted Average Min Rate Prior Weighted Average Min Rate Current Weighted Average Cap Up Original Weighted Average Cap Up Prior Weighted Average Cap Up Current Weighted Average Cap Down Original Weighted Average Cap Down Prior Weighted Average Cap Down Current Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > GROUP 2 GROUP 1 TOTAL Current Servicing Fees > 2,794.68 6,881.67 9,676.35 Delinquent Servicing Fees > 11,107.34 24,536.81 35,644.15 TOTAL SERVICING FEES > 13,902.02 31,418.48 45,320.50 Total Servicing Fees > 13,902.02 31,418.48 45,320.50 Compensating Interest > 2,179.53 6,588.33 8,767.86 Delinquent Servicing Fees > (11,107.34) (24,536.81) (35,644.15) COLLECTED SERVICING FEES > 4,974.21 13,470.00 18,444.21 Current PPIS > (2,179.53) (6,588.33) (8,767.86) Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 42,571.41 78,005.09 120,576.50 Total Advanced Interest For Current Payment Date > 290,508.76 724,658.66 1,015,167.42 TOTAL ADVANCES FOR CURRENT PERIOD > 333,080.17 802,663.75 1,135,743.92 ADDITIONAL COLLATERAL INFORMATION > GROUP 2 GROUP 1 TOTAL Weighted Average Net Mortgage Rate > 7.2125% 8.1422% 7.8570% Page 14 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for June 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 1743960.18 1750614.66 520507.8 4015082.64 % Balance >0.009118384 0.009153177 0.002721501 0.020993063 # Loans > 12 8 5 25 % # Loans >0.011964108 0.007976072 0.004985045 0.024925224 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 0 > 1743960.18 1750614.66 520507.8 4015082.64 % Balance 0 >0.009118384 0.009153177 0.002721501 0.020993063 # Loans 0 > 12 8 5 25 % # Loans 0 >0.011964108 0.007976072 0.004985045 0.024925224 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 15 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for June 25, 2002 Distribution Delinquency Report - Group 1 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 1743960.18 1113854.73 520507.8 3378322.71 % Balance >0.013168213 0.008410442 0.003930226 0.025508882 # Loans > 12 6 5 23 % # Loans >0.013953488 0.006976744 0.005813953 0.026744186 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 0 > 1743960.18 1113854.73 520507.8 3378322.71 % Balance 0 >0.013168213 0.008410442 0.003930226 0.025508882 # Loans 0 > 12 6 5 23 % # Loans 0 >0.013953488 0.006976744 0.005813953 0.026744186 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 16 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for June 25, 2002 Distribution Delinquency Report - Group 2 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 0 636759.93 0 636759.93 % Balance > 0 0.010825481 0 0.010825481 # Loans > 0 2 0 2 % # Loans > 0 0.013986014 0 0.013986014 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 0 > 0 636759.93 0 636759.93 % Balance 0 > 0 0.010825481 0 0.010825481 # Loans 0 > 0 2 0 2 % # Loans 0 > 0 0.013986014 0 0.013986014 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 17 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REO Report for June 25, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 0 Loan Group 1 >= Group 1 Group; REO Book Value = 000.00 Total Original Principal Balance = 000.00 Loan Group 2 > = Group 2 Group; REO Book Value = 000.00 Total Current Balance = 000.00 REO Book Value = 000.00 REO Book Value reported corresponds to total REO loans,including loans thatbe >come REO during current distribution. Loan Number Original Stated Curr >ent State & & Principal Principal Paid to Note > LTV at Original Origination Loan Group Balance Balance Date Rate > Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page 18 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > GROUP 2 GROUP 1 TOTAL Current Number of Paid in Full Loans > 2 12 14 Number of Repurchased Loans > 0 0 0 Total Number of Loans Prepaid in Full > 2 12 14 Paid in Full Balance > 663894.81 2073734.63 2737629.44 Repurchased Loans Balance > 0 0 0 Curtailments Amount > 41869.72 38485.36 80355.08 Total Prepayment Amount > 705764.53 2112219.99 2817984.52 Cumulative Number of Paid in Full Loans > 9 27 36 Number of Repurchased Loans > 0 4 4 Total Number of Loans Prepaid in Full > 9 31 40 Paid in Full Balance > 3004729.83 4392471.24 7397201.07 Repurchased Loans Balance > 0 617628.32 617628.32 Curtailments Amount > 76220.03 -63251.69 12968.34 Total Prepayment Amount > 3080949.86 4946847.87 8027797.73 SPACE INTENTIONALLY LEFT BLANK Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 19 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > GROUP 2 GROUP 1 TOTAL SMM > 0.01185636 0.015698479 0.014520037 3 Months Avg SMM > 0.01509293 0.008827355 0.010771705 12 Months Avg SMM Avg SMM Since Cut-off > 0.010156555 0.007563412 0.008364563 CPR > 0.133355555 0.172938372 0.160977546 3 Months Avg CPR > 0.166811897 0.10093376 0.121870915 12 Months Avg CPR Avg CPR Since Cut-off > 0.115295702 0.087078985 0.095883363 PSA > 12.42032272 15.69408284 14.72472037 3 Months Avg PSA Approximation > 18.99967717 11.15986231 13.59709202 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 16.53681863 12.03446435 13.40231852 Group 1 Group 2 CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 20 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments Group 1 Group 2 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 21 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Detail Report for June 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 14 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 2,747,350.00 > Loan Group 2 = Group 2 Group Total Prepayment Amount = 2,737,629.44 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 1100342962 1 192000 191379.38 > 37390 0.0825CA - 80.00% Paid Off - 36 37273 1100343448 1 105600 105282.13 > 37405 0.095GA - 80.00% Paid Off - 36 37256 1100344435 1 109950 109763.21 > 37404 0.1025OR - 100.00% Paid Off - 36 37274 1100345327 1 216500 215927.73 > 37396 0.08125MD - 55.95% Paid Off - 36 37273 1100345418 1 285000 284408.12 > 37386 0.10375FL - 95.00% Paid Off - 36 37242 1100345428 1 161500 161210.03 > 37377 0.0999MA - 95.00% Paid Off - 36 37266 1100345453 1 187500 187228.28 > 37397 0.1099CA - 75.00% Paid Off - 36 37271 1100345509 1 250800 250313.6 > 37396 0.09625TX - 95.00% Paid Off - 36 37264 1109000752 1 117900 116694.44 > 37396 0.085DC - 90.00% Paid Off - 18 37249 1109003571 1 64800 64620.24 > 37400 0.09CA - 90.00% Paid Off - 36 37244 1109004308 1 133200 132503.92 > 37399 0.0825GA - 90.00% Paid Off - 36 37256 1109004319 1 255550 254403.55 > 37405 0.09NY - 95.00% Paid Off - 36 37256 1100336565 2 304100 301828.26 > 37390 0.085IL - 89.98% Paid Off - 36 37243 1100342728 2 362950 362066.55 > 37397 0.09625VA - 90.00% Paid Off - 36 37267 Page > 22 of 28 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral COLLATERAL REALIZED LOSSES > GROUP 2 GROUP 1 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. SPACE INTENTIONALLY LEFT BLANK Group 1 > 3 Months Moving Average Group 2 Collateral Loss Severity Approximation by Groups Coll >ateral Loss Severity Approximation Page 23 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > GROUP 2 GROUP 1 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 Group 1 Group 2 CDR by Groups Tota >l CDR SDA by Groups Tota >l SDA Page 24 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral Group 1 Group 2 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 cluderealized gains and additional realized losses and gains from priorperiod >s. Dates correspond to distribution dates. Page 25 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Detail Report for June 25, 2002 Distribution Realized Loss Detail Report - Loans Liquidated During Current >Distribution SUMMARY > LOAN GROUP Total Loan Count = 0 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 0.00 > Loan Group 2 = Group 2 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 > 26 of 28 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Triggers, Adj. Rate Cert. and Miscellaneous Report for June 25, >2002 Distribution Triggers, Adj. Rate Cert. and Miscellaneous Report TRIGGER EVENTS > GROUP 2 GROUP 1 TOTAL Optional Termination Date Reached > No No No After the 36th Distribution > No No No Stepdown date occurred > No No No Trigger Event in Effect > No No No ADJUSTABLE RATE CERTIFICATE INFORMATION > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK ADDITIONAL INFORMATION > GROUP 2 GROUP 1 TOTAL NET WAC SHORTFALL RESERVE FUND Original Net WAC Shortfall Reserve Fund Balance > 210,000.00 Net WAC Shortfall Reserve Fund Beginning Balance > 183,689.15 Net WAC Shortfall > 7,422.79 Net WAC Shortfall Reserve Fund Ending Balance > 176,266.36 Page 27 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Additional Certificate Report for June 25, 2002 Distribution Additional Certificate Report CLASS > Net PPIS & Other Int. Shortfalls A-I-1 > 0.00 A-I-2 > 0.00 A-I-3 > 0.00 A-I-4 > 0.00 A-I-5 > 0.00 A-I-6 > 0.00 A-II > 0.00 A-IO > 0.00 M-1 > 0.00 M-2 > 0.00 B > 0.00 Page 28 of 28 > (c) COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----