-----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, MQd4BHRRrcuAe25PNBRjNu34qH1ZLpmRI3HHkmUZnyRjFEU/R5sOb46BBloEB4hr eeDuhZzh2QLvz4UwMX4dxw== 0001020242-02-000311.txt : 20021031 0001020242-02-000311.hdr.sgml : 20021031 20021030185146 ACCESSION NUMBER: 0001020242-02-000311 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020625 ITEM INFORMATION: Other events FILED AS OF DATE: 20021031 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: 02803848 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 im02s28k3.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 33-071-5871 (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. Deutsche Bank National Trust Company, 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 March 1, 2002. Date: October 30, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of June 25, 2002. IMPAC Secured Assets Corp. 2002-S2 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 > 16 8. Prepayment Report > 17 9. Prepayment Detail R >eport 20 10. Realized Loss Repor >t 21 11. Realized Loss Detai >l Report 24 12. Triggers, Adj. Rate > Cert. and Miscellaneous Report 25 Total Number of Pag >es 25 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: March 1, 20 >02 Certificate Insurer(s): > Closing Date: March 28, >2002 > First Payment Date: April 25, 2002 > Servicer(s): Impac Funding Corporation Mas >ter Servicer Wendover Funding, Inc. Sub-Se >rvicer GMAC Sub-Servicer > Distribution Date: June 25, 200 >2 Underwriter(s): Countrywide Securities Underw >riter Record Date: May 31, 20 >02 > Page 1 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) LTA1 5000000 > 3073429.32 16647.7422 2923979.92 2940627.662 0 > 0 149449.4 LTA2 12500000 > 12500000 67708.3333 0 67708.3333 0 > 0 12500000 LTA3 25000000 > 25000000 135416.6667 0 135416.6667 0 > 0 25000000 LTA4 48440478 > 48440478 343120.0525 0 343120.0525 0 > 0 48440478 LTA6 90299000 > 90299000 489119.5833 0 489119.5833 0 > 0 90299000 LTA7 48440480 > 48440480 181651.8 0 181651.8 0 > 0 48440480 LTMB 20000000 >19948981.83 108056.9849 14644.85 122701.8349 0 > 0 19934336.98 LTIO 0 > 0 356775.5754 0 356775.5754 0 > 0 0 LTPO 319397 > 318857.66 0 227.26 227.26 0 > 0 318630.4 LTP 100 > 100 0.5417 0 0.5417 0 > 0 100 LTR2 50 > 0 0 0 0 0 > 0 0 Total 249999505 >248021326.8 1698497.28 2938852.03 4637349.31 0 > 0 245082474.8 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) LTA1 F-30/360 > 5000000 614.685864 3.32954844 584.795984 588. >1255324 29.88988 LTA2 F-30/360 > 12500000 1000 5.416666664 0 5.41 >6666664 1000 LTA3 F-30/360 > 25000000 1000 5.416666668 0 5.41 >6666668 1000 LTA4 F-30/360 > 48440478 1000 7.083333333 0 7.08 >3333333 1000 LTA6 F-30/360 > 90299000 1000 5.416666666 0 5.41 >6666666 1000 LTA7 F-30/360 > 48440480 1000 3.75 0 > 3.75 1000 LTMB F-30/360 > 20000000 997.4490915 5.402849245 0.7322425 6.13 >5091745 996.716849 LTIO F-30/360 > 242265076.9 991.9002525 1.472666139 0 1.47 >2666139 979.8089229 LTPO F-30/360 > 319397 998.3113805 0 0.711528286 0.71 >1528286 997.5998522 LTP F-30/360 > 100 1000 5.417 0 > 5.417 1000 LTR2 F-30/360 > 50 0 0 0 > 0 0 > Page 2 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) LTA1 5000000 66291.0294 >4406477.949 444072.6506 4850550.6 4916841.629 0 > 0 149449.4 LTA2 12500000 203124.9999 > 0 0 0 203124.9999 0 > 0 12500000 LTA3 25000000 406250.0001 > 0 0 0 406250.0001 0 > 0 25000000 LTA4 48440478 1029360.158 > 0 0 0 1029360.158 0 > 0 48440478 LTA6 90299000 1467358.75 > 0 0 0 1467358.75 0 > 0 90299000 LTA7 48440480 544955.4 > 0 0 0 544955.4 0 > 0 48440480 LTMB 20000000 324679.9346 >57313.18677 8349.833235 65663.02 390342.9546 0 > 0 19934336.98 LTIO 0 1073327.321 > 0 0 0 1073327.321 0 > 0 0 LTPO 319397 0 >678.0104153 88.58958473 766.6 766.6 0 > 0 318630.4 LTP 100 1.6251 > 0 0 0 1.6251 0 > 0 100 LTR2 50 0.2708 >44.04173103 5.958268966 50 50.2708 0 > 0 0 Total 249999505 5115349.489 >4464513.188 452517.0317 4917030.22 10032379.71 0 > 0 245082474.8 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) LTA1 0.065 3073429.32 > 0 0 0 0 0 166 >47.7422 0 LTA2 0.065 12500000 > 0 0 0 0 0 677 >08.3333 0 LTA3 0.065 25000000 > 0 0 0 0 0 1354 >16.6667 0 LTA4 0.085 48440478 > 0 0 0 0 0 3431 >20.0525 0 LTA6 0.065 90299000 > 0 0 0 0 0 4891 >19.5833 0 LTA7 0.045 48440480 > 0 0 0 0 0 1 >81651.8 0 LTMB 0.065 19948981.83 > 0 0 0 0 0 1080 >56.9849 0 LTIO 0.017789466 240302790.9 > 0 0 0 0 0 3567 >75.5754 0 LTPO 318857.66 > 0 0 0 0 0 > 0 0 LTP 0.065 100 > 0 0 0 0 0 > 0.5417 0 LTR2 0.065 0 > 0 0 0 0 0 > 0 0 Total 488324117.7 > 0 0 0 0 0 169 >8497.28 0 > Page 3 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) A-1 SEQ,AS 5000000 > 3073429.32 16647.74 2923979.92 2940627.66 0 > 0 149449.4 A-2 SEQ,AS 12500000 > 12500000 67708.33 0 67708.33 0 > 0 12500000 A-3 NAS 25000000 > 25000000 135416.67 0 135416.67 0 > 0 25000000 A-4 FLT,AS 48440478 > 48440478 85174.51 0 85174.51 0 > 0 48440478 A-5 IO,INV,NTL 0 > 0 257945.55 0 257945.55 0 > 0 0 A-6 SEQ,AS 90299000 > 90299000 489119.58 0 489119.58 0 > 0 90299000 A-7 SEQ,AS 48440480 > 48440480 181651.8 0 181651.8 0 > 0 48440480 A-PO PO,RSTP 319397 > 318857.66 0 227.26 227.26 0 > 0 318630.4 A-IO IO,CSTR,NTL 0 > 0 356775.58 0 356775.58 0 > 0 0 M-1 MEZ,NAS 6250000 > 6213952.74 33658.91 4650.77 38309.68 0 > 0 6209301.97 M-2 MEZ,NAS 5000000 > 4994556.03 27053.85 3634.21 30688.06 0 > 0 4990921.82 M-3 MEZ,NAS 3500000 > 3496189.22 18937.69 2543.95 21481.64 0 > 0 3493645.27 B-1 SUB,NAS 1500000 > 1498366.81 8116.15 1090.26 9206.41 0 > 0 1497276.55 B-2 SUB,NAS 1125000 > 1123775.11 6087.12 817.7 6904.82 0 > 0 1122957.41 B-3 SUB,NAS 2625000 > 2622141.92 14203.27 1907.96 16111.23 0 > 0 2620233.96 P SUB,NAS 100 > 100 13692.99 0 13692.99 0 > 0 100 R R,CPT,AS 100 > 0 0 0 0 0 > 0 0 Total 249999555 >248021326.8 1712189.74 2938852.03 4651041.77 0 > 0 245082474.8 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-1 F-30/360 4525 >4TLB8 5000000 614.685864 3.329548 584.795984 588 >.125532 29.88988 A-2 F-30/360 4525 >4TLC6 12500000 1000 5.4166664 0 5. >4166664 1000 A-3 F-30/360 4525 >4TLD4 25000000 1000 5.4166668 0 5. >4166668 1000 A-4 A-30/360 4525 >4TLE2 48440478 1000 1.758333392 0 1.75 >8333392 1000 A-5 A-30/360 4525 >4TLF9 48440478 1000 5.325000096 0 5.32 >5000096 1000 A-6 F-30/360 4525 >4TLG7 90299000 1000 5.41666663 0 5.4 >1666663 1000 A-7 F-30/360 4525 >4TLT9 48440480 1000 3.75 0 > 3.75 1000 A-PO F-30/360 4525 >4TLJ1 319397 998.3113805 0 0.711528286 0.71 >1528286 997.5998522 A-IO A-30/360 4525 >4TLH5 242265076.9 991.9002525 1.472666158 0 1.47 >2666158 979.8089229 M-1 F-30/360 4525 >4TLL6 6250000 994.2324384 5.3854256 0.7441232 6. >1295488 993.4883152 M-2 F-30/360 4525 >4TLM4 5000000 998.911206 5.41077 0.726842 6 >.137612 998.184364 M-3 F-30/360 4525 >4TLN2 3500000 998.9112057 5.410768571 0.726842857 6.13 >7611429 998.1843629 B-1 F-30/360 4525 >4TLQ5 1500000 998.9112067 5.410766667 0.72684 6.13 >7606667 998.1843667 B-2 F-30/360 4525 >4TLR3 1125000 998.9112089 5.410773333 0.726844444 6.13 >7617778 998.1843644 B-3 F-30/360 4525 >4TLS1 2625000 998.9112076 5.410769524 0.726841905 6.13 >7611429 998.1843657 P F-30/360 4525 >4TLP7 100 1000 136929.9 0 1 >36929.9 1000 R F-30/360 4525 >4TLK8 100 0 0 0 > 0 0 > Page 4 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) A-1 5000000 66291.02 >4406477.949 444072.6506 4850550.6 4916841.62 0 > 0 149449.4 A-2 12500000 203124.99 > 0 0 0 203124.99 0 > 0 12500000 A-3 25000000 406250.01 > 0 0 0 406250.01 0 > 0 25000000 A-4 48440478 258349.22 > 0 0 0 258349.22 0 > 0 48440478 A-5 0 771010.94 > 0 0 0 771010.94 0 > 0 0 A-6 90299000 1467358.74 > 0 0 0 1467358.74 0 > 0 90299000 A-7 48440480 544955.4 > 0 0 0 544955.4 0 > 0 48440480 A-PO 319397 0 >678.0104153 88.58958473 766.6 766.6 0 > 0 318630.4 A-IO 0 1073327.32 > 0 0 0 1073327.32 0 > 0 0 M-1 6250000 101353.44 >35047.82196 5650.20804 40698.03 142051.47 0 > 0 6209301.97 M-2 5000000 81209.64 >8096.497726 981.6822742 9078.18 90287.82 0 > 0 4990921.82 M-3 3500000 56846.74 >5667.552041 687.1779593 6354.73 63201.47 0 > 0 3493645.27 B-1 1500000 24362.89 >2428.945685 294.5043149 2723.45 27086.34 0 > 0 1497276.55 B-2 1125000 18272.17 >1821.711834 220.8781658 2042.59 20314.76 0 > 0 1122957.41 B-3 2625000 42635.06 >4250.657519 515.3824807 4766.04 47401.1 0 > 0 2620233.96 P 100 25807.65 > 0 0 0 25807.65 0 > 0 100 R 100 0.54 >88.08346207 11.91653793 100 100.54 0 > 0 0 Total 249999555 5141155.77 > 4464557.23 452522.99 4917080.22 10058235.99 0 > 0 245082474.8 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-1 0.065 3073429.32 > 0 0 0 0 0 1 >6647.74 0 A-2 0.065 12500000 > 0 0 0 0 0 6 >7708.33 0 A-3 0.065 25000000 > 0 0 0 0 0 13 >5416.67 0 A-4 0.0211 48440478 > 0 0 0 0 0 8 >5174.51 0 A-5 0.0639 48440478 > 0 0 0 0 0 25 >7945.55 0 A-6 0.065 90299000 > 0 0 0 0 0 48 >9119.58 0 A-7 0.045 48440480 > 0 0 0 0 0 1 >81651.8 0 A-PO 318857.66 > 0 0 0 0 0 > 0 0 A-IO 0.017816302 240302790.9 > 0 0 0 0 0 35 >6775.58 0 M-1 0.065 6213952.74 > 0 0 0 0 0 3 >3658.91 0 M-2 0.065 4994556.03 > 0 0 0 0 0 2 >7053.85 M-3 0.065 3496189.22 > 0 0 0 0 0 1 >8937.69 0 B-1 0.065 1498366.81 > 0 0 0 0 0 >8116.15 0 B-2 0.065 1123775.11 > 0 0 0 0 0 >6087.12 0 B-3 0.065 2622141.92 > 0 0 0 0 0 1 >4203.27 0 P 0.065 100 > 0 0 0 0 0 1 >3692.99 0 R 0.065 0 > 0 0 0 0 0 > 0 0 Total 536764595.7 > 0 0 0 0 0 171 >2189.74 0 > Page 5 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates REMIC II Component Classes 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) R-1 50 > 0 0 0 0 0 > 0 0 R-2 50 > 0 0 0 0 0 > 0 0 Total 100 > 0 0 0 0 0 > 0 0 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) R-1 F-30/360 > 50 0 0 0 > 0 0 R-2 F-30/360 > 50 0 0 0 > 0 0 > Page 6 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates REMIC II Component Classes 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) R-1 50 0.27 >44.04173103 5.958268966 50 50.27 0 > 0 0 R-2 50 0.27 >44.04173103 5.958268966 50 50.27 0 > 0 0 Total 100 0.54 >88.08346207 11.91653793 100 100.54 0 > 0 0 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) R-1 0.065 0 > 0 0 0 0 0 > 0 0 R-2 0.065 0 > 0 0 0 0 0 > 0 0 Total 0 > 0 0 0 0 0 > 0 0 > Page 7 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report SUMMARY > TOTAL Principal - Collections > 2,938,852.03 Principal - Withdrawals > 0.00 Principal - Other Accounts > 0.00 TOTAL NET PRINCIPAL > 2,938,852.03 Interest Collections > 1,744,622.96 Interest Withdrawals > 0.00 Interest Fees > (32,433.21) TOTAL NET INTEREST > 1,712,189.75 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 4,651,041.78 PRINCIPAL - COLLECTIONS > TOTAL Scheduled Principal > 180,578.51 Curtailments > 20,287.40 Prepayments In Full > 2,737,986.12 Repurchases/Substitutions > 0.00 Liquidations > 0.00 Insurance Principal > 0.00 Other Principal > 0.00 Delinquent Principal > (121,428.18) Principal Advanced > 121,428.18 Total Realized Loss Of Principal > 0.00 TOTAL PRINCIPAL COLLECTED > 2,938,852.03 Page 8 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > TOTAL INTEREST - COLLECTIONS > TOTAL Scheduled Interest > 1,770,274.22 Repurchases/Substitutions > 0.00 Liquidation Interest > 0.00 Insurance Interest > 0.00 Other Interest > 0.00 Delinquent Interest > (1,209,590.96) Interest Advanced > 1,170,247.25 Prepayment Interest Shortfalls > (10,574.06) Compensating Interest > 10,574.06 Civil Relief Act Shortfalls > 0.00 Prepayment Premiums > 13,692.45 TOTAL INTEREST COLLECTED > 1,744,622.96 Page 9 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for June 25, 2002 Distribution Collection Account Report INTEREST - WITHDRAWALS > TOTAL Undistributed Receipts on Repurchased Loans > 0.00 Reimburse Advances from Late Collections > 0.00 Reimbursements to Sub-Servicer > 0.00 Reimburse Fees and Advances from Late Collections > 0.00 Interest Earnings on the Custodial Account > 0.00 Prev. Unreimbursed P&I Advances > 0.00 Prev. Unreimbursed Servicing Advances > 0.00 TOTAL INTEREST WITHDRAWALS > 0.00 INTEREST - OTHER ACCOUNTS > TOTAL INTEREST - FEES > TOTAL Radian PMI Fee > 12,251.70 Trustee Fee Amount > 1,653.48 Current Servicing Fees > 18,528.03 TOTAL INTEREST OTHER FEES > 32,433.21 Page 10 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Credit Enhancement Report for June 25, 2002 Distribution Credit Enhancement Report ACCOUNTS > TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > TOTAL Radian PMI Premium > 12,251.70 STRUCTURAL FEATURES > TOTAL SPACE INTENTIONALLY LEFT BLANK Page 11 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report COLLATERAL > TOTAL Loan Count: Original > 1147 Prior > 1466 Prefunding > 0 Scheduled Paid Offs > 0 Full Voluntary Prepayments > -15 Repurchases > 0 Liquidations > 0 Current > 1451 Principal Balance: Original > 193381668.6 Prior > 248021771.8 Prefunding > 0 Scheduled Principal > -180578.51 Partial and Full Voluntary Prepayments > -2758273.52 Repurchases > 0 Liquidations > 0 Current > 245082919.8 PREFUNDING > TOTAL PRE-FUNDING ACCOUNT Pre-Funding Account Beginning Balance > 0.00 Balance of Subsequent Mortgage Loans added this period > 0.00 Withdrawal of remaining amounts > 0.00 Pre-Funding Account Ending Balance > 0.00 INTEREST COVERAGE ACCOUNT Interest Coverage Account Beginning Balance > 0.00 Interest Coverage Account Requirement > 0.00 Withdrawal of remaining amounts > 0.00 Interest Coverage Account Ending Balance > 0.00 Current Prin Balance by Groups (in millions of dollars) Tota >l Current Principal Balance (in millions of dollars) Page 12 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report CHARACTERISTICS > TOTAL Weighted Average Coupon Original > 0.085584298 Weighted Average Coupon Prior > 0.085686298 Weighted Average Coupon Current > 0.085650911 Weighted Average Months to Maturity Original > 340 Weighted Average Months to Maturity Prior > 340 Weighted Average Months to Maturity Current > 339 Weighted Avg Remaining Amortization Term Original > 349.7924593 Weighted Avg Remaining Amortization Term Prior > 348.3274069 Weighted Avg Remaining Amortization Term Current > 347.1520254 Weighted Average Seasoning Original > 2.9738338 Weighted Average Seasoning Prior > 3.41176358 Weighted Average Seasoning Current > 4.41542824 Note: Original information refers to deal issue. WAC by Groups Tota >l WAC WARAT by Groups Tota >l WARAT Note: Dates correspond to distribution dates. Page 13 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for June 25, 2002 Distribution Collateral Report ARM CHARACTERISTICS > TOTAL Weighted Average Margin Original > 0 Weighted Average Margin Prior > 0 Weighted Average Margin Current > 0 Weighted Average Max Rate Original > 0 Weighted Average Max Rate Prior > 0 Weighted Average Max Rate Current > 0 Weighted Average Min Rate Original > 0 Weighted Average Min Rate Prior > 0 Weighted Average Min Rate Current > 0 Weighted Average Cap Up Original > 0 Weighted Average Cap Up Prior > 0 Weighted Average Cap Up Current > 0 Weighted Average Cap Down Original > 0 Weighted Average Cap Down Prior > 0 Weighted Average Cap Down Current > 0 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > TOTAL Current Servicing Fees > 18,528.03 Delinquent Servicing Fees > 39,343.71 TOTAL SERVICING FEES > 57,871.74 Total Servicing Fees > 57,871.74 Compensating Interest > (10,574.06) Delinquent Servicing Fees > (39,343.71) COLLECTED SERVICING FEES > 7,953.97 ADDITIONAL COLLATERAL INFORMATION > TOTAL Weighted Average Net Mortgage Rate > 8.2178% Page 14 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 > 218103.22 164979.74 0 383082.96 % Balance >0.000889916 0.000673159 0 0.001563075 # Loans > 1 1 0 2 % # Loans > 0.00068918 0.00068918 0 0.00137836 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 239651.5 > 0 0 0 239651.5 % Balance 0.000977838 > 0 0 0 0.000977838 # Loans 1 > 0 0 0 1 % # Loans 0.00068918 > 0 0 0 0.00068918 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 239651.5 > 218103.22 164979.74 0 622734.46 % Balance 0.000977838 >0.000889916 0.000673159 0 0.002540913 # Loans 1 > 1 1 0 3 % # Loans 0.00068918 > 0.00068918 0.00068918 0 0.00206754 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 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 >= Pool Group; REO Book Value = 000.00 Total Original Principal Balance = 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 16 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > TOTAL Current Number of Paid in Full Loans > 15 Number of Repurchased Loans > 0 Total Number of Loans Prepaid in Full > 15 Paid in Full Balance > 2737986.12 Repurchased Loans Balance > 0 Curtailments Amount > 20287.4 Total Prepayment Amount > 2758273.52 Cumulative Number of Paid in Full Loans > 25 Number of Repurchased Loans > 0 Total Number of Loans Prepaid in Full > 25 Paid in Full Balance > 4285813.3 Repurchased Loans Balance > 0 Curtailments Amount > 131544.79 Total Prepayment Amount > 4417358.09 SPACE INTENTIONALLY LEFT BLANK Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 17 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > TOTAL SMM > 0.011129197 3 Months Avg SMM > 0.006205441 12 Months Avg SMM Avg SMM Since Cut-off > 0.006205441 CPR > 0.12567147 3 Months Avg CPR > 0.071975636 12 Months Avg CPR Avg CPR Since Cut-off > 0.071975636 PSA > 14.23094916 3 Months Avg PSA Approximation > 9.995666853 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 9.995666853 CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 18 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for June 25, 2002 Distribution Prepayment Report - Voluntary Prepayments 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 19 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 = 15 > Loan Group 1 = Pool Group Total Original Principal Balance = 2,744,200.00 Total Prepayment Amount = 2,737,986.12 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 1100334018 1 74700 74520.22 > 37377 0.1299MD - 60.25% Paid Off - 36 37301 1100341942 1 351500 351003.95 > 37377 0.0975NV - 95.00% Paid Off - 36 37298 1100345519 1 113000 112702.54 > 37384 0.0925FL - 86.93% Paid Off - 36 37281 1100347107 1 256500 256076.51 > 37391 0.09FL - 90.00% Paid Off - 36 37287 1100347198 1 318500 317786.44 > 37391 0.075CA - 70.00% Paid Off - 36 37295 1100347418 1 76500 76376.94 > 37386 0.09125FL - 90.00% Paid Off - 36 37320 1100347656 1 121050 120936.58 > 37379 0.0975VA - 90.00% Paid Off - 36 37329 1100348435 1 100000 99939.42 > 37378 0.085FL - 80.00% Paid Off - 36 37343 1100349286 1 103500 103449.1 > 37389 0.095FL - 90.00% Paid Off - 36 37361 1109003820 1 273000 272317.89 > 37398 0.095FL - 73.79% Paid Off - 36 37309 1109004730 1 156500 156204.36 > 37399 0.0975GA - 90.00% Paid Off - 36 37308 1109004937 1 134900 134653.1 > 37398 0.085CA - 89.94% Paid Off - 36 37299 1109005048 1 343500 343178.18 > 37405 0.0975NJ - 89.93% Paid Off - 36 37333 2500014185 1 209250 209059.08 > 37407 0.09875MD - 75.00% Paid Off - 36 37306 2500015580 1 111800 109781.81 > 37398 0.07625GA - 67.76% Paid Off - 36 37349 Page > 20 of 25 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral COLLATERAL REALIZED LOSSES > TOTAL Current Number of Loans Liquidated > 0 Collateral Realized Loss/(Gain) Amount > 0 Net Liquidation Proceeds > 0 Cumulative Number of Loans Liquidated > 0 Collateral Realized Loss/(Gain) Amount > 0 Net Liquidation Proceeds > 0 Note: Collateral realized losses may include adjustments to loan >s liquidated in prior periods. SPACE INTENTIONALLY LEFT BLANK > 3 Months Moving Average Collateral Loss Severity Approximation by Groups Coll >ateral Loss Severity Approximation Page 21 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > TOTAL MDR > 0 3 Months Avg MDR > 0 12 Months Avg MDR Avg MDR Since Cut-off > 0 CDR > 0 3 Months Avg CDR > 0 12 Months Avg CDR Avg CDR Since Cut-off > 0 SDA > 0 3 Months Avg SDA Approximation > 0 12 Months Avg SDA Approximation Avg SDA Since Cut-off Approximation > 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 CDR by Groups Tota >l CDR SDA by Groups Tota >l SDA Page 22 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for June 25, 2002 Distribution Realized Loss Report - Collateral 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 23 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 = Pool Group Total Original Principal Balance = 0.00 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 > 24 of 25 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S2 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 > TOTAL Optional Termination Date Reached? > No Credit Support Depletion Date Reached? > No ADJUSTABLE RATE CERTIFICATE INFORMATION > TOTAL SPACE INTENTIONALLY LEFT BLANK ADDITIONAL INFORMATION > TOTAL Senior Principal Distribution Amount > 2,923,979.92 Subordinate Principal Distribution Amount > 14,515.58 Senior Accelerated Distribution Percentage > 100.0000% Senior Percentage > 91.9095% Special Hazard Amount > 2,499,996.00 Fraud Loss Amount > 3,867,633.37 Bankruptcy Amount > 100,000.00 Page 25 of 25 > (c) COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----