-----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, IBCVh2PsIp/r1SRuFHZRB4V/VfbLIln4Y4XlKXkzeBwQdbUFMaQbxdDaVkO620fF 1Un4yiLhh85gjUmI1tAhVQ== 0001020242-02-000301.txt : 20021030 0001020242-02-000301.hdr.sgml : 20021030 20021030101044 ACCESSION NUMBER: 0001020242-02-000301 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020826 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: 02802171 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 im02s18k7.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): August 26, 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 August 26, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Bankers Trust Company of California, N.A., not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the 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 August 26, 2002. IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates August 26, 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: August 26, 2 >002 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: July 31, 2 >002 > 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 August 26, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) LT1A 173248268.9 >162549352.7 1061728.95 995519.6437 2057248.594 0 > 0 161553833.1 LT1B 1194.11 > 1142.7455 7.74 4.8382 12.5782 0 > 0 1137.9073 LT1C 538.39 > 527.9363 3.17 0.9981 4.1681 0 > 0 526.9382 LT1D 20000000 > 20000000 130634.65 0 130634.65 0 > 0 20000000 LT1E 5000000 > 5000000 32658.66 0 32658.66 0 > 0 5000000 LT1F 1750000 > 1750000 11430.53 0 11430.53 0 > 0 1750000 LT1P 100 > 100 0.65 0 0.65 0 > 0 100 R-1 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >189301123.4 1236464.35 995525.48 2231989.83 0 > 0 188305597.9 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) LT1A F-30/360 > 173248268.9 938.2451771 6.128366863 5.746202546 11.8 >7456941 932.4989746 LT1B F-30/360 > 1194.11 956.9851186 6.481814908 4.051720528 10.5 >3353544 952.9333981 LT1C F-30/360 > 538.39 980.5834061 5.88792511 1.853860584 7.74 >1785694 978.7295455 LT1D F-30/360 > 20000000 1000 6.5317325 0 6. >5317325 1000 LT1E F-30/360 > 5000000 1000 6.531732 0 6 >.531732 1000 LT1F F-30/360 > 1750000 1000 6.531731429 0 6.53 >1731429 1000 LT1P F-30/360 > 100 1000 6.5 0 > 6.5 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 August 26, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) LT1A 173248268.9 7728201.11 > 10668789.9 1025645.907 11694435.81 19422636.92 0 > 0 161553833.1 LT1B 1194.11 55.6 > 51.28 4.9226 56.2026 111.8026 0 > 0 1137.9073 LT1C 538.39 22.55 > 10.46 0.9919 11.4519 34.0019 0 > 0 526.9382 LT1D 20000000 916386.1 > 0 0 0 916386.1 0 > 0 20000000 LT1E 5000000 229096.52 > 0 0 0 229096.52 0 > 0 5000000 LT1F 1750000 80183.79 > 0 0 0 80183.79 0 > 0 1750000 LT1P 100 28380.16 > 0 0 0 28380.16 0 > 0 100 R-1 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 8982325.83 >10668851.64 1025651.822 11694503.46 20676829.29 0 > 0 188305597.9 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) LT1A 0.078380793 162549352.7 > 1061728.95 0 0 0 1061728.95 106 >1728.95 0 LT1B 0.081249357 1142.7455 > 7.74 0 0 0 7.74 > 7.74 0 LT1C 0.071956869 527.9363 > 3.17 0 0 0 3.17 > 3.17 0 LT1D 0.078380793 20000000 > 130634.65 0 0 0 130634.65 13 >0634.65 0 LT1E 0.078380793 5000000 > 32658.66 0 0 0 32658.66 3 >2658.66 0 LT1F 0.078380793 1750000 > 11430.53 0 0 0 11430.53 1 >1430.53 0 LT1P 0.078380793 100 > 0.65 0 0 0 0.65 > 0.65 0 R-1 0 > 0 0 0 0 0 > 0 0 Total 189301123.4 > 1236464.35 0 0 0 1236464.35 123 >6464.35 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 August 26, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) LT2-1AA 135091675 >128247855.9 728295.83 689556.4 1417852.23 0 > 0 127558299.5 LT2-AI1 308000 > 231548.47 1314.92 7036.29 8351.21 0 > 0 224512.18 LT2-AI2 179000 > 179000 1016.51 0 1016.51 0 > 0 179000 LT2-AI3 191000 > 191000 1084.65 0 1084.65 0 > 0 191000 LT2-AI4 255000 > 255000 1448.1 0 1448.1 0 > 0 255000 LT2-AI5 100000 > 100000 567.88 0 567.88 0 > 0 100000 LT2-AI6 252440 > 252440 1433.56 0 1433.56 0 > 0 252440 LT2-1M1 41354.3473 > 41354.3473 234.84 0 234.84 0 > 0 41354.3473 LT2-1M2 27569.5648 > 27569.5648 156.56 0 156.56 0 > 0 27569.5648 LT2-1B 24123.3692 > 24123.3692 136.99 0 136.99 0 > 0 24123.3692 LT2-1ZZ 1378486.49 >1315268.156 7469.16 7036.29 14505.45 0 > 0 1308231.866 LT2-2AA 60908326.36 > 57267147.1 325209.52 286058.57 611268.09 0 > 0 56981088.53 LT2-AII 579560 > 539021.66 3061 2918.97 5979.97 0 > 0 536102.69 LT2-2M1 18645.6527 > 18645.6527 105.89 0 105.89 0 > 0 18645.6527 LT2-2M2 12430.4352 > 12430.4352 70.59 0 70.59 0 > 0 12430.4352 LT2-2B 10876.6308 > 10876.6308 61.77 0 61.77 0 > 0 10876.6308 LT2-2ZZ 621513.54 >587742.0903 3337.68 2918.97 6256.65 0 > 0 584823.1203 LT2A-IO 0 > 0 161458.33 0 161458.33 0 > 0 0 LT2P 100 > 100 0.57 0 0.57 0 > 0 100 R-2 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >189301123.4 1236464.35 995525.49 2231989.84 0 > 0 188305597.9 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) LT2-1AA F-30/360 > 135091675 949.3394462 5.391122955 5.104358948 10. >4954819 944.2350872 LT2-AI1 F-30/360 > 308000 751.7807468 4.269220779 22.8450974 27.1 >1431818 728.9356494 LT2-AI2 F-30/360 > 179000 1000 5.678826816 0 5.67 >8826816 1000 LT2-AI3 F-30/360 > 191000 1000 5.678795812 0 5.67 >8795812 1000 LT2-AI4 F-30/360 > 255000 1000 5.678823529 0 5.67 >8823529 1000 LT2-AI5 F-30/360 > 100000 1000 5.6788 0 > 5.6788 1000 LT2-AI6 F-30/360 > 252440 1000 5.678814768 0 5.67 >8814768 1000 LT2-1M1 F-30/360 > 41354.3473 1000 5.678725825 0 5.67 >8725825 1000 LT2-1M2 F-30/360 > 27569.5648 1000 5.678725839 0 5.67 >8725839 1000 LT2-1B F-30/360 > 24123.3692 1000 5.678725839 0 5.67 >8725839 1000 LT2-1ZZ F-30/360 > 1378486.49 954.1393157 5.418377368 5.104359057 10.5 >2273643 949.0349567 LT2-2AA F-30/360 > 60908326.36 940.2186946 5.339327797 4.696542937 10.0 >3587073 935.5221517 LT2-AII F-30/360 > 579560 930.0532473 5.281592933 5.036527711 10.3 >1812064 925.0167196 LT2-2M1 F-30/360 > 18645.6527 1000 5.679071776 0 5.67 >9071776 1000 LT2-2M2 F-30/360 > 12430.4352 1000 5.678803587 0 5.67 >8803587 1000 LT2-2B F-30/360 > 10876.6308 1000 5.679148363 0 5.67 >9148363 1000 LT2-2ZZ F-30/360 > 621513.54 945.662568 5.370245031 4.696550939 10.0 >6679597 940.9660171 LT2A-IO F-30/360 > 26750000 934.5794393 6.035825421 0 6.03 >5825421 934.5794393 LT2P F-30/360 > 100 1000 5.7 0 > 5.7 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 August 26, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) LT2-1AA 135091675 5249809.06 > 6880980.3 652395.18 7533375.48 12783184.54 0 > 0 127558299.5 LT2-AI1 308000 10927.64 > 76216.84 7270.98 83487.82 94415.46 0 > 0 224512.18 LT2-AI2 179000 7104.19 > 0 0 0 7104.19 0 > 0 179000 LT2-AI3 191000 7580.45 > 0 0 0 7580.45 0 > 0 191000 LT2-AI4 255000 10120.51 > 0 0 0 10120.51 0 > 0 255000 LT2-AI5 100000 3968.82 > 0 0 0 3968.82 0 > 0 100000 LT2-AI6 252440 10018.9 > 0 0 0 10018.9 0 > 0 252440 LT2-1M1 41354.3473 1641.27 > 0 0 0 1641.27 0 > 0 41354.3473 LT2-1M2 27569.5648 1094.18 > 0 0 0 1094.18 0 > 0 27569.5648 LT2-1B 24123.3692 957.41 > 0 0 0 957.41 0 > 0 24123.3692 LT2-1ZZ 1378486.49 47109.03 > 70214.07 6657.1 76871.17 123980.2 0 66 >16.5462 1308231.866 LT2-2AA 60908326.36 2350997.87 > 3575426.57 351811.26 3927237.83 6278235.7 0 > 0 56981088.53 LT2-AII 579560 22253.65 > 39529.92 3927.39 43457.31 65710.96 0 > 0 536102.69 LT2-2M1 18645.6527 740.02 > 0 0 0 740.02 0 > 0 18645.6527 LT2-2M2 12430.4352 493.35 > 0 0 0 493.35 0 > 0 12430.4352 LT2-2B 10876.6308 431.68 > 0 0 0 431.68 0 > 0 10876.6308 LT2-2ZZ 621513.54 20677.39 > 36483.95 3589.91 40073.86 60751.25 0 33 >83.4403 584823.1203 LT2A-IO 0 1198020.85 > 0 0 0 1198020.85 0 > 0 0 LT2P 100 28379.56 > 0 0 0 28379.56 0 > 0 100 R-2 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 8972325.83 >10678851.65 1025651.82 11704503.47 20676829.3 0 99 >99.9865 188305597.9 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) LT2-1AA 0.068145776 128247855.9 > 728295.81 0 0 0 728295.83 72 >8295.83 0 LT2-AI1 0.068145776 231548.47 > 1314.92 0 0 0 1314.92 >1314.92 0 LT2-AI2 0.068145776 179000 > 1016.51 0 0 0 1016.51 >1016.51 0 LT2-AI3 0.068145776 191000 > 1084.65 0 0 0 1084.65 >1084.65 0 LT2-AI4 0.068145776 255000 > 1448.1 0 0 0 1448.1 > 1448.1 0 LT2-AI5 0.068145776 100000 > 567.88 0 0 0 567.88 > 567.88 0 LT2-AI6 0.068145776 252440 > 1433.56 0 0 0 1433.56 >1433.56 0 LT2-1M1 0.068145776 41354.3473 > 234.84 0 0 0 234.84 > 234.84 0 LT2-1M2 0.068145776 27569.5648 > 156.56 0 0 0 156.56 > 156.56 0 LT2-1B 0.068145776 24123.3692 > 136.99 0 0 0 136.99 > 136.99 0 LT2-1ZZ 0.068145776 1315268.156 > 7469.16 0 0 0 7469.16 >7469.16 0 LT2-2AA 0.068145776 57267147.1 > 325209.52 0 0 0 325209.52 32 >5209.52 0 LT2-AII 0.068145776 539021.66 > 3061 0 0 0 3061 > 3061 0 LT2-2M1 0.068145776 18645.6527 > 105.89 0 0 0 105.89 > 105.89 0 LT2-2M2 0.068145776 12430.4352 > 70.59 0 0 0 70.59 > 70.59 0 LT2-2B 0.068145776 10876.6308 > 61.77 0 0 0 61.77 > 61.77 0 LT2-2ZZ 0.068145776 587742.0903 > 3337.68 0 0 0 3337.68 >3337.68 0 LT2A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 LT2P 0.068145776 100 > 0.57 0 0 0 0.57 > 0.57 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 214301123.4 > 1236464.33 0 0 0 1236464.35 123 >6464.35 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 August 26, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) A-I-1 FLT 30800000 >23154856.91 42540.72 703628.98 746169.7 0 > 0 22451227.93 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 >53902166.48 291970.07 291896.5 583866.57 0 > 0 53610269.98 A-IO IO,NTL,DRB 0 > 0 161458.33 0 161458.33 0 > 0 0 M-1 MEZ,STEP,AF 6000000 > 6000000 35000 0 35000 0 > 0 6000000 M-2 MEZ,STEP,AF 4000000 > 4000000 23333.33 0 23333.33 0 > 0 4000000 B MEZ,STEP,AF 3500000 > 3500000 20416.67 0 20416.67 0 > 0 3500000 C SUB 1.36 > 1000000 173439.4 0 173439.4 0 > 0 1000000 P SUB 100 > 100 0 0 0 0 > 0 100 R-3 R 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >189301123.4 1243082.12 995525.48 2238607.6 0 > 0 188305597.9 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-I-1 37462 37493 F-30/360 4525 >4TKM5 30800000 751.7810684 1.381192208 22.84509675 24.2 >2628896 728.9359716 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 930.0532556 5.037788495 5.036519083 10.0 >7430758 925.0167366 A-IO F-30/360 4525 >4TKT0 26750000 934.5794393 6.035825421 0 6.03 >5825421 934.5794393 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 5.8333325 0 5. >8333325 1000 B F-30/360 4525 >4TKW3 3500000 1000 5.833334286 0 5.83 >3334286 1000 C F-30/360 4525 >4TKZ6 200000101.4 951.5051347 0.867196561 0 0.86 >7196561 946.5275097 P F-30/360 4525 >4TKY9 100 1000 0 0 > 0 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 August 26, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) A-I-1 30800000 327899.35 >7662354.176 686417.8981 8348772.074 8676671.424 0 > 0 22451227.93 A-I-2 17900000 479272.5 > 0 0 0 479272.5 0 > 0 17900000 A-I-3 19100000 620590.81 > 0 0 0 620590.81 0 > 0 19100000 A-I-4 25500000 935637.5 > 0 0 0 935637.5 0 > 0 25500000 A-I-5 10000000 393750 > 0 0 0 393750 0 > 0 10000000 A-I-6 25244000 1035214.38 > 0 0 0 1035214.38 0 > 0 25244000 A-II 57956000 2125921 >4006496.064 339233.9518 4345730.016 6471651.016 0 > 0 53610269.98 A-IO 0 1198020.85 > 0 0 0 1198020.85 0 > 0 0 M-1 6000000 245000 > 0 0 0 245000 0 > 0 6000000 M-2 4000000 163333.35 > 0 0 0 163333.35 0 > 0 4000000 B 3500000 142916.68 > 0 0 0 142916.68 0 > 0 3500000 C 1.36 335178.39 > 0 0 0 335178.39 0 9999 >98.6384 1000000 P 100 28375.58 > 0 0 0 28375.58 0 > 0 100 R-3 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 8031110.39 >11668850.24 1025651.85 12694502.09 20725612.48 0 9999 >98.6384 188305597.9 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-I-1 0.0206688 23154856.91 > 42540.72 0 0 0 42540.72 4 >2540.72 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 0.068145776 25244000 > 143356 0 0 4531.77 143356 14 >7887.77 0 A-II 0.065 53902166.48 > 291970.07 0 0 0 291970.07 29 >1970.07 0 A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 M-1 0.068145776 6000000 > 34072.89 0 0 927.11 34072.89 > 35000 0 M-2 0.068145776 4000000 > 22715.26 0 0 618.07 22715.26 2 >3333.33 0 B 0.068145776 3500000 > 19875.85 0 0 540.82 19875.85 2 >0416.67 0 C 0.010994509 190301123.4 > 173439.4 0 0 0 173439.4 1 >73439.4 0 P 100 > 0 0 0 0 0 > 0 0 R-3 0 > 0 0 0 0 0 > 0 0 Total 403602246.8 > 1236464.35 0 0 6617.77 1236464.35 124 >3082.12 0 > Page 7 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for August 26, 2002 Distribution Collection Account Report SUMMARY > GROUP 2 GROUP 1 TOTAL Principal Collections > 291,896.50 703,628.98 995,525.48 Other Principal Deposits > 0.00 0.00 0.00 TOTAL NET PRINCIPAL > 291,896.50 703,628.98 995,525.48 Interest Collections > 355,816.21 907,059.40 1,262,875.61 Interest Withdrawals > 0.00 0.00 0.00 Interest Fees > (4,762.00) (15,031.50) (19,793.50) TOTAL NET INTEREST > 351,054.21 892,027.90 1,243,082.11 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 642,950.71 1,595,656.88 2,238,607.59 PRINCIPAL - COLLECTIONS > GROUP 2 GROUP 1 TOTAL Scheduled Principal > 54,560.12 101,572.12 156,132.24 Curtailments > 237,336.38 74,984.80 312,321.18 Prepayments In Full > 0.00 527,072.06 527,072.06 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 > (43,019.72) (80,346.46) (123,366.18) Total Realized Loss Of Principal > 0.00 0.00 0.00 Pre-funding Principal Paid > 0.00 0.00 0.00 Principal Advanced > 43,019.72 80,346.46 123,366.18 TOTAL PRINCIPAL COLLECTED > 291,896.50 703,628.98 995,525.48 Page 8 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for August 26, 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 > 366,120.96 925,547.42 1,291,668.38 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 > 0.00 (1,919.07) (1,919.07) Delinquent Interest > (297,141.00) (746,242.84) (1,043,383.84) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 0.00 1,919.07 1,919.07 Civil Relief Act Shortfalls > 0.00 0.00 0.00 Prepayment Premiums > 0.00 0.00 0.00 Pre-funding Intererst Coverage > 0.00 0.00 0.00 Interest Advanced > 286,192.31 721,780.99 1,007,973.30 Net WAC Shortfall > 643.94 5,973.83 6,617.77 TOTAL INTEREST COLLECTED > 355,816.21 907,059.40 1,262,875.61 Page 9 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for August 26, 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 > 1,588.48 7,867.79 9,456.27 Trustee Fee Amount > 486.97 1,090.54 1,577.51 Extraordinary Trust Fund Expenses > 0.00 0.00 0.00 Current Servicing Fees > 13,635.24 30,535.03 44,170.27 Delinquent Servicing Fees > (10,948.69) (24,461.86) (35,410.55) TOTAL INTEREST OTHER FEES > 4,762.00 15,031.50 19,793.50 Page 10 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Credit Enhancement Report for August 26, 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 > 1,000,000.00 Excess Overcollateralized Amount > 0.00 Overcollateralization Release Amount > 0.00 Overcollateralization Deficiency Amount > 0.00 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 August 26, 2002 Distribution Collateral Report COLLATERAL > GROUP 2 GROUP 1 TOTAL Loan Count: Original > 120 695 815 Prior > 142 850 992 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > 0 -4 -4 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 142 846 988 Principal Balance: Original > 48517658.43 107380483.9 155898142.4 Prior > 58436718.27 130864405.1 189301123.4 Prefunding > 0 0 0 Scheduled Principal > -54560.12 -101572.12 -156132.24 Partial and Full Voluntary Prepayments > -237336.38 -602056.86 -839393.24 Repurchases > 0 0 0 Liquidations > 0 0 0 Current > 58144821.77 130160776.1 188305597.9 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 August 26, 2002 Distribution Collateral Report CHARACTERISTICS > GROUP 2 GROUP 1 TOTAL Weighted Average Coupon Original > 0.076153553 0.084312099 0.081773046 Weighted Average Coupon Prior > 0.075170985 0.084927384 0.081926844 Weighted Average Coupon Current > 0.075183064 0.084870817 0.081880235 Weighted Average Months to Maturity Original > 344 340 341.2496346 Weighted Average Months to Maturity Prior > 340 335 336.5434858 Weighted Average Months to Maturity Current > 338 333 334.5438952 Weighted Avg Remaining Amortization Term Original > 345.1975174 348.1456083 347.2245992 Weighted Avg Remaining Amortization Term Prior > 341.7247372 343.1120601 342.6837975 Weighted Avg Remaining Amortization Term Current > 339.6787056 341.4494236 340.902663 Weighted Average Seasoning Original > 1.84278944 1.99128947 1.944896778 Weighted Average Seasoning Prior > 6.36515231 6.51432198 6.468273727 Weighted Average Seasoning Current > 7.36664987 7.51573854 7.469703084 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 August 26, 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 > 2,686.54 6,073.17 8,759.71 Delinquent Servicing Fees > 10,948.69 24,461.86 35,410.55 TOTAL SERVICING FEES > 13,635.23 30,535.03 44,170.26 Total Servicing Fees > 13,635.23 30,535.03 44,170.26 Compensating Interest > 0.00 1,919.07 1,919.07 Delinquent Servicing Fees > (10,948.69) (24,461.86) (35,410.55) COLLECTED SERVICING FEES > 2,686.54 7,992.24 10,678.78 Current PPIS > 0.00 (1,919.07) (1,919.07) Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 43,019.72 80,346.46 123,366.18 Total Advanced Interest For Current Payment Date > 286,192.31 721,780.99 1,007,973.30 TOTAL ADVANCES FOR CURRENT PERIOD > 329,212.03 802,127.45 1,131,339.48 ADDITIONAL COLLATERAL INFORMATION > GROUP 2 GROUP 1 TOTAL Weighted Average Net Mortgage Rate > 7.1957% 8.1249% 7.8381% Page 14 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for August 26, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2735858.97 1415266.76 2598093.75 6749219.48 % Balance >0.014528824 0.007515798 0.01379722 0.035841842 # Loans > 14 8 14 36 % # Loans > 0.01417004 0.008097166 0.01417004 0.036437247 FORECLOSURE Balance 0 > 0 0 75684.44 75684.44 % Balance 0 > 0 0 0.000401923 0.000401923 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.001012146 0.001012146 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 > 2735858.97 1415266.76 2673778.19 6824903.92 % Balance 0 >0.014528824 0.007515798 0.014199143 0.036243765 # Loans 0 > 14 8 15 37 % # Loans 0 > 0.01417004 0.008097166 0.015182186 0.037449393 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 August 26, 2002 Distribution Delinquency Report - Group 1 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 1972076.75 1415266.76 1961844.85 5349188.36 % Balance >0.015151083 0.01087322 0.015072474 0.041096777 # Loans > 12 8 12 32 % # Loans >0.014184397 0.009456265 0.014184397 0.037825059 FORECLOSURE Balance 0 > 0 0 75684.44 75684.44 % Balance 0 > 0 0 0.000581469 0.000581469 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.001182033 0.001182033 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 > 1972076.75 1415266.76 2037529.29 5424872.8 % Balance 0 >0.015151083 0.01087322 0.015653942 0.041678246 # Loans 0 > 12 8 13 33 % # Loans 0 >0.014184397 0.009456265 0.01536643 0.039007092 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 August 26, 2002 Distribution Delinquency Report - Group 2 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 763782.22 0 636248.9 1400031.12 % Balance > 0.01313586 0 0.010942486 0.024078346 # Loans > 2 0 2 4 % # Loans >0.014084507 0 0.014084507 0.028169014 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 > 763782.22 0 636248.9 1400031.12 % Balance 0 > 0.01313586 0 0.010942486 0.024078346 # Loans 0 > 2 0 2 4 % # Loans 0 >0.014084507 0 0.014084507 0.028169014 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 August 26, 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 August 26, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > GROUP 2 GROUP 1 TOTAL Current Number of Paid in Full Loans > 0 4 4 Number of Repurchased Loans > 0 0 0 Total Number of Loans Prepaid in Full > 0 4 4 Paid in Full Balance > 0 527072.06 527072.06 Repurchased Loans Balance > 0 0 0 Curtailments Amount > 237336.38 74984.8 312321.18 Total Prepayment Amount > 237336.38 602056.86 839393.24 Cumulative Number of Paid in Full Loans > 10 41 51 Number of Repurchased Loans > 0 4 4 Total Number of Loans Prepaid in Full > 10 45 55 Paid in Full Balance > 3323246.24 6394716.92 9717963.16 Repurchased Loans Balance > 0 617628.32 617628.32 Curtailments Amount > 324625.41 8035.3 332660.71 Total Prepayment Amount > 3647871.65 7020380.54 10668252.19 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 August 26, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > GROUP 2 GROUP 1 TOTAL SMM > 0.004065221 0.004604189 0.00443783 3 Months Avg SMM > 0.007182385 0.010484437 0.009469374 12 Months Avg SMM Avg SMM Since Cut-off > 0.008639623 0.00765018 0.007956139 CPR > 0.047706581 0.05387242 0.051973167 3 Months Avg CPR > 0.082864113 0.118805965 0.107897214 12 Months Avg CPR Avg CPR Since Cut-off > 0.098888185 0.08803632 0.091404698 PSA > 3.238010631 3.583973825 3.47893123 3 Months Avg PSA Approximation > 6.507569781 9.120339007 8.340757533 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 11.10676976 9.593129567 10.05281462 Group 1 Group 2 CPR by Groups Tota >l CPR PSA by Groups Tota >l PS Page 20 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for August 26, 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 August 26, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 4 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 529,005.00 > Loan Group 2 = Group 2 Group Total Prepayment Amount = 527,072.06 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 1100343022 1 135755 135276.35 > 37455 0.095MA - 95.00% Paid Off - 36 37265 1100345594 1 108000 107648.55 > 37448 0.09125NJ - 80.00% Paid Off - 36 37271 1109004452 1 161950 161395.07 > 37467 0.08875CO - 88.02% Paid Off - 36 37256 2500013566 1 123300 122752.09 > 37438 0.085FL - 90.00% Paid Off - 36 37256 Page > 22 of 28 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for August 26, 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 August 26, 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 August 26, 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 August 26, 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 August 26 >, 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 > 167,834.58 Net WAC Shortfall > 6,617.77 Net WAC Shortfall Reserve Fund Ending Balance > 161,216.81 Page 27 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Additional Certificate Report for August 26, 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-----