-----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, VQnqFO2HR/aC1JAU4f8am2sz0vXpMb6JqRTDPjXOXB9P0d54k3TVP7psIaaCrvZF ZdydU3QUcZCZsr/DTQVTRQ== 0001020242-02-000439.txt : 20021204 0001020242-02-000439.hdr.sgml : 20021204 20021204105013 ACCESSION NUMBER: 0001020242-02-000439 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021025 ITEM INFORMATION: Other events FILED AS OF DATE: 20021204 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 SEC ACT: 1934 Act SEC FILE NUMBER: 333-08439 FILM NUMBER: 02848080 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 1 im02s18k9.txt IMPAC SECURED ASSETS CORP SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 25, 2002 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 October 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: December 3, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of October 25, 2002. IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates October 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.corporatetrust.db.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: October 25, >2002 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: September >30, 2002 > 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 October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) LT1A 173248268.9 >159066306.3 1038482.95 4637377.816 5675860.766 1 > 0 154428927.5 LT1B 1194.11 > 1125.7965 7.62 22.7171 30.3371 0 > 0 1103.0794 LT1C 538.39 > 524.4329 3.15 4.7068 7.8568 0 > 0 519.7261 LT1D 20000000 > 20000000 130572.33 0 130572.33 0 > 0 20000000 LT1E 5000000 > 5000000 32643.08 0 32643.08 0 > 0 5000000 LT1F 1750000 > 1750000 11425.08 0 11425.08 0 > 0 1750000 LT1P 100 > 100 67441.3 0 67441.3 0 > 0 100 R-1 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >185818056.5 1280575.51 4637405.24 5917980.75 1 > 0 181180650.3 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 > 173248268.9 918.1408122 5.994189476 26.76723898 32.7 >6142846 891.3735674 LT1B F-30/360 > 1194.11 942.7912839 6.381321654 19.02429424 25. >4056159 923.7669896 LT1C F-30/360 > 538.39 974.0762273 5.850777318 8.742361485 14. >5931388 965.3338658 LT1D F-30/360 > 20000000 1000 6.5286165 0 6. >5286165 1000 LT1E F-30/360 > 5000000 1000 6.528616 0 6 >.528616 1000 LT1F F-30/360 > 1750000 1000 6.528617143 0 6.52 >8617143 1000 LT1P F-30/360 > 100 1000 674413 0 > 674413 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 October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) LT1A 173248268.9 9821904.95 >17480748.16 1338592.247 18819340.41 28641245.36 1 > 0 154428927.5 LT1B 1194.11 70.92 > 84.58 6.4505 91.0305 161.9505 0 > 0 1103.0794 LT1C 538.39 28.86 > 17.36 1.304 18.664 47.524 0 > 0 519.7261 LT1D 20000000 1177592.39 > 0 0 0 1177592.39 0 > 0 20000000 LT1E 5000000 294398.09 > 0 0 0 294398.09 0 > 0 5000000 LT1F 1750000 103039.34 > 0 0 0 103039.34 0 > 0 1750000 LT1P 100 106626.92 > 0 0 0 106626.92 0 > 0 100 R-1 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 11503661.47 > 17480850.1 1338600.002 18819450.1 30323111.57 1 > 0 181180650.3 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 0.078343401 159066306.3 > 1038482.95 0 0 0 1038482.95 103 >8482.95 0 LT1B 0.081178962 1125.7965 > 7.62 0 0 0 7.62 > 7.62 0 LT1C 0.071968177 524.4329 > 3.15 0 0 0 3.15 > 3.15 0 LT1D 0.078343401 20000000 > 130572.33 0 0 0 130572.33 13 >0572.33 0 LT1E 0.078343401 5000000 > 32643.08 0 0 0 32643.08 3 >2643.08 0 LT1F 0.078343401 1750000 > 11425.08 0 0 0 11425.08 1 >1425.08 0 LT1P 0.078343401 100 > 0.65 0 0 0 0.65 >67441.3 0 R-1 0 > 0 0 0 0 0 > 0 0 Total 185818056.5 > 1213134.86 0 0 0 1213134.86 128 >0575.51 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 October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) LT2-1AA 135091675 >126042011.9 713360.38 2841744.25 3555104.63 0 > 0 123200267.6 LT2-AI1 308000 > 209039.86 1183.11 28997.39 30180.5 0 > 0 180042.47 LT2-AI2 179000 > 179000 1013.09 0 1013.09 0 > 0 179000 LT2-AI3 191000 > 191000 1081 0 1081 0 > 0 191000 LT2-AI4 255000 > 255000 1443.23 0 1443.23 0 > 0 255000 LT2-AI5 100000 > 100000 565.97 0 565.97 0 > 0 100000 LT2-AI6 252440 > 252440 1428.74 0 1428.74 0 > 0 252440 LT2-1M1 41354.3473 > 41354.3473 234.05 0 234.05 0 > 0 41354.3473 LT2-1M2 27569.5648 > 27569.5648 156.04 0 156.04 0 > 0 27569.5648 LT2-1B 24123.3692 > 24123.3692 136.53 0 136.53 0 > 0 24123.3692 LT2-1ZZ 1378486.49 >1292759.546 7316.63 28997.39 36314.02 0 > 0 1263762.156 LT2-2AA 60908326.36 >56059585.62 317281.06 1702913.87 2020194.93 0 > 0 54356671.75 LT2-AII 579560 > 526699.6 2980.97 17376.67 20357.64 0 > 0 509322.93 LT2-2M1 18645.6527 > 18645.6527 105.53 0 105.53 0 > 0 18645.6527 LT2-2M2 12430.4352 > 12430.4352 70.35 0 70.35 0 > 0 12430.4352 LT2-2B 10876.6308 > 10876.6308 61.56 0 61.56 0 > 0 10876.6308 LT2-2ZZ 621513.54 >575420.0303 3256.71 17376.67 20633.38 0 > 0 558043.3603 LT2A-IO 0 > 0 161458.33 0 161458.33 0 > 0 0 LT2P 100 > 100 67441.22 0 67441.22 0 > 0 100 R-2 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >185818056.5 1280574.5 4637406.24 5917980.74 0 > 0 181180650.3 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 933.010949 5.280565069 21.03567263 26. >3162377 911.9752763 LT2-AI1 F-30/360 > 308000 678.7008442 3.841266234 94.14737013 97.9 >8863636 584.553474 LT2-AI2 F-30/360 > 179000 1000 5.65972067 0 5.6 >5972067 1000 LT2-AI3 F-30/360 > 191000 1000 5.659685864 0 5.65 >9685864 1000 LT2-AI4 F-30/360 > 255000 1000 5.65972549 0 5.6 >5972549 1000 LT2-AI5 F-30/360 > 100000 1000 5.6597 0 > 5.6597 1000 LT2-AI6 F-30/360 > 252440 1000 5.659721122 0 5.65 >9721122 1000 LT2-1M1 F-30/360 > 41354.3473 1000 5.659622634 0 5.65 >9622634 1000 LT2-1M2 F-30/360 > 27569.5648 1000 5.65986446 0 5.6 >5986446 1000 LT2-1B F-30/360 > 24123.3692 1000 5.659657192 0 5.65 >9657192 1000 LT2-1ZZ F-30/360 > 1378486.49 937.8108205 5.307727027 21.03567225 26.3 >4339927 916.7751483 LT2-2AA F-30/360 > 60908326.36 920.3928095 5.209157417 27.95863836 33.1 >6779578 892.4341711 LT2-AII F-30/360 > 579560 908.7921872 5.143505418 29.98252122 35.1 >2602664 878.809666 LT2-2M1 F-30/360 > 18645.6527 1000 5.659764327 0 5.65 >9764327 1000 LT2-2M2 F-30/360 > 12430.4352 1000 5.659496137 0 5.65 >9496137 1000 LT2-2B F-30/360 > 10876.6308 1000 5.659840913 0 5.65 >9840913 1000 LT2-2ZZ F-30/360 > 621513.54 925.8366765 5.239966293 27.95863466 33.1 >9860095 897.8780419 LT2A-IO F-30/360 > 26750000 934.5794393 6.035825421 0 6.03 >5825421 934.5794393 LT2P F-30/360 > 100 1000 674412.2 0 6 >74412.2 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 October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) LT2-1AA 135091675 6686969.81 > 11040311.9 851095.47 11891407.37 18578377.18 0 > 0 123200267.6 LT2-AI1 308000 13384.69 > 118659 9298.53 127957.53 141342.22 0 > 0 180042.47 LT2-AI2 179000 9132.97 > 0 0 0 9132.97 0 > 0 179000 LT2-AI3 191000 9745.24 > 0 0 0 9745.24 0 > 0 191000 LT2-AI4 255000 13010.68 > 0 0 0 13010.68 0 > 0 255000 LT2-AI5 100000 5102.22 > 0 0 0 5102.22 0 > 0 100000 LT2-AI6 252440 12880.05 > 0 0 0 12880.05 0 > 0 252440 LT2-1M1 41354.3473 2109.98 > 0 0 0 2109.98 0 > 0 41354.3473 LT2-1M2 27569.5648 1406.66 > 0 0 0 1406.66 0 > 0 27569.5648 LT2-1B 24123.3692 1230.82 > 0 0 0 1230.82 0 > 0 24123.3692 LT2-1ZZ 1378486.49 61848.92 > 112656.23 8684.65 121340.88 183189.8 0 66 >16.5462 1263762.156 LT2-2AA 60908326.36 2991605.07 > 6091854.43 459800.18 6551654.61 9543259.68 0 > 0 54356671.75 LT2-AII 579560 28276.61 > 65207.75 5029.32 70237.07 98513.68 0 > 0 509322.93 LT2-2M1 18645.6527 951.35 > 0 0 0 951.35 0 > 0 18645.6527 LT2-2M2 12430.4352 634.23 > 0 0 0 634.23 0 > 0 12430.4352 LT2-2B 10876.6308 554.96 > 0 0 0 554.96 0 > 0 10876.6308 LT2-2ZZ 621513.54 27252.54 > 62161.78 4691.84 66853.62 94106.16 0 33 >83.4403 558043.3603 LT2A-IO 0 1520937.51 > 0 0 0 1520937.51 0 > 0 0 LT2P 100 106626.16 > 0 0 0 106626.16 0 > 0 100 R-2 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 11493660.47 >17490851.09 1338599.99 18829451.08 30323111.55 0 99 >99.9865 181180650.3 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 0.067916534 126042011.9 > 713361.38 0 0 0.98 713360.38 71 >3360.38 0 LT2-AI1 0.067916534 209039.86 > 1183.11 0 0 0 1183.11 >1183.11 0 LT2-AI2 0.067916534 179000 > 1013.09 0 0 0 1013.09 >1013.09 0 LT2-AI3 0.067916534 191000 > 1081 0 0 0 1081 > 1081 0 LT2-AI4 0.067916534 255000 > 1443.23 0 0 0 1443.23 >1443.23 0 LT2-AI5 0.067916534 100000 > 565.97 0 0 0 565.97 > 565.97 0 LT2-AI6 0.067916534 252440 > 1428.74 0 0 0 1428.74 >1428.74 0 LT2-1M1 0.067916534 41354.3473 > 234.05 0 0 0 234.05 > 234.05 0 LT2-1M2 0.067916534 27569.5648 > 156.04 0 0 0 156.04 > 156.04 0 LT2-1B 0.067916534 24123.3692 > 136.53 0 0 0 136.53 > 136.53 0 LT2-1ZZ 0.067916534 1292759.546 > 7316.65 0 0 0.02 7316.63 >7316.63 0 LT2-2AA 0.067916534 56059585.62 > 317281.06 0 0 0 317281.06 31 >7281.06 0 LT2-AII 0.067916534 526699.6 > 2980.97 0 0 0 2980.97 >2980.97 0 LT2-2M1 0.067916534 18645.6527 > 105.53 0 0 0 105.53 > 105.53 0 LT2-2M2 0.067916534 12430.4352 > 70.35 0 0 0 70.35 > 70.35 0 LT2-2B 0.067916534 10876.6308 > 61.56 0 0 0 61.56 > 61.56 0 LT2-2ZZ 0.067916534 575420.0303 > 3256.71 0 0 0 3256.71 >3256.71 0 LT2A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 LT2P 0.067916534 100 > 0.57 0 0 0 0.57 6 >7441.22 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 210818056.5 > 1213134.87 0 0 1 1213133.85 12 >80574.5 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 October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) A-I-1 FLT 30800000 >20903995.64 35602.12 2899739.035 2935341.155 0 > 0 18004256.6 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 >52669960.88 285295.62 1737667.215 2022962.835 0 > 0 50932293.67 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 164462.1 0 164462.1 0 > 0 1000000 P SUB 100 > 100 67440.65 0 67440.65 0 > 0 100 R-3 R 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >185818056.5 1287932.42 4637406.25 5925338.67 0 > 0 181180650.3 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 37524 37553 F-30/360 4525 >4TKM5 30800000 678.701157 1.155912987 94.14737128 95.3 >0328426 584.5537857 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 4.64 >1666492 1000 A-I-4 F-30/360 4525 >4TKQ6 25500000 1000 5.241666667 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 908.7922024 4.922624405 29.98252493 34.9 >0514933 878.8096775 A-IO F-30/360 4525 >4TKT0 26750000 934.5794393 6.035825421 6.03 >5825421 934.5794393 M-1 F-30/360 4525 >4TKU7 6000000 1000 5.833333333 5.83 >3333333 1000 M-2 F-30/360 4525 >4TKV5 4000000 1000 5.8333325 5. >8333325 1000 B F-30/360 4525 >4TKW3 3500000 1000 5.833334286 5.83 >3334286 1000 C F-30/360 4525 >4TKZ6 200000101.4 934.0898092 0.822310083 0.82 >2310083 910.9027897 P F-30/360 4525 >4TKY9 100 1000 674406.5 0 6 >74406.5 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 October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) A-I-1 30800000 401668.56 > 11914160.5 881582.8995 12795743.4 13197411.96 0 > 0 18004256.6 A-I-2 17900000 616207.5 > 0 0 0 616207.5 0 > 0 17900000 A-I-3 19100000 797902.47 > 0 0 0 797902.47 0 > 0 19100000 A-I-4 25500000 1202962.5 > 0 0 0 1202962.5 0 > 0 25500000 A-I-5 10000000 506250 > 0 0 0 506250 0 > 0 10000000 A-I-6 25244000 1330989.92 > 0 0 0 1330989.92 0 > 0 25244000 A-II 57956000 2701605.58 > 6566689.2 457017.1304 7023706.33 9725311.91 0 > 0 50932293.67 A-IO 0 1520937.51 > 0 0 0 1520937.51 0 > 0 0 M-1 6000000 315000 > 0 0 0 315000 0 > 0 6000000 M-2 4000000 210000.01 > 0 0 0 210000.01 0 > 0 4000000 B 3500000 183750.02 > 0 0 0 183750.02 0 > 0 3500000 C 1.36 672701.65 > 0 0 0 672701.65 0 9999 >98.6384 1000000 P 100 106621.04 > 0 0 0 106621.04 0 > 0 100 R-3 0 0 >1.42109E-14 0 0 0 0 > 0 0 Total 200000101.4 10566596.76 > 18480849.7 1338600.03 19819449.73 30386046.49 0 999 >98.6384 181180650.3 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 0.0204375 20903995.64 > 35602.12 0 0 0 35602.12 3 >5602.12 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 0.067916534 25244000 > 142873.75 0 0 5014.02 142873.75 14 >7887.77 0 A-II 0.065 52669960.88 > 285295.62 0 0 0 285295.62 28 >5295.62 0 A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 M-1 0.067916534 6000000 > 33958.27 0 0 1041.73 33958.27 > 35000 0 M-2 0.067916534 4000000 > 22638.84 0 0 694.49 22638.84 2 >3333.33 0 B 0.067916534 3500000 > 19808.99 0 0 607.68 19808.99 2 >0416.67 0 C 0.010620912 186818056.5 > 164463.1 0 0 0 164463.1 1 >64462.1 1 P 100 > 0 0 0 0 67440.65 6 >7440.65 0 R-3 0 > 0 0 0 0 0 > 0 0 Total 396636113 > 1213134.85 0 0 7357.92 1280575.5 128 >7932.42 1 > Page 7 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for October 25, 2002 Distribution Collection Account Report SUMMARY > GROUP 2 GROUP 1 TOTAL Principal Collections > 1,737,666.84 2,899,738.41 4,637,405.25 Other Principal Deposits > 0.00 0.00 0.00 TOTAL NET PRINCIPAL > 1,737,666.84 2,899,738.41 4,637,405.25 Interest Collections > 347,691.92 890,784.78 1,305,917.35 Interest Withdrawals > 0.00 0.00 0.00 Interest Fees > (3,894.98) (14,088.95) (17,983.93) TOTAL NET INTEREST > 343,796.94 876,695.83 1,287,933.42 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 2,081,463.78 3,776,434.24 5,925,338.67 PRINCIPAL - COLLECTIONS > GROUP 2 GROUP 1 TOTAL Scheduled Principal > 54,644.92 100,944.12 155,589.04 Curtailments > 18,238.85 14,867.53 33,106.38 Prepayments In Full > 1,664,783.07 2,700,285.69 4,365,068.76 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidations > 0.00 83,642.07 83,642.07 Insurance Principal > 0.00 0.00 0.00 Other Principal > 0.00 0.00 0.00 Delinquent Principal > (46,266.15) (84,279.97) (130,546.12) Total Realized Loss Of Principal > 0.00 (1.00) (1.00) Pre-funding Principal Paid > 0.00 0.00 0.00 Principal Advanced > 46,266.15 84,279.97 130,546.12 TOTAL PRINCIPAL COLLECTED > 1,737,666.84 2,899,738.41 4,637,405.25 Page 8 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for October 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 > 358,205.55 908,287.59 1,266,493.14 Repurchases/Substitutions > 0.00 0.00 0.00 Liquidation Interest > 0.00 644.74 644.74 Insurance Interest > 0.00 0.00 0.00 Other Interest > 0.00 0.00 0.00 Prepayment Interest Shortfalls > (6,706.52) (11,165.20) (17,871.72) Delinquent Interest > (302,402.08) (754,131.89) (1,056,533.97) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 6,706.52 11,165.20 17,871.72 Civil Relief Act Shortfalls > 0.00 0.00 0.00 Prepayment Premiums > 0.00 0.00 67,440.65 Pre-funding Intererst Coverage > 0.00 0.00 0.00 Interest Advanced > 291,166.88 729,347.99 1,020,514.87 Net WAC Shortfall > 721.57 6,636.35 7,357.92 TOTAL INTEREST COLLECTED > 347,691.92 890,784.78 1,305,917.35 Page 9 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for October 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 > 1,305.75 7,791.23 9,096.98 Trustee Fee Amount > 476.70 1,071.78 1,548.48 Extraordinary Trust Fund Expenses > 0.00 0.00 0.00 Current Servicing Fees > 13,347.72 30,009.83 43,357.55 Delinquent Servicing Fees > (11,235.19) (24,783.89) (36,019.08) TOTAL INTEREST OTHER FEES > 3,894.98 14,088.95 17,983.93 Page 10 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Credit Enhancement Report for October 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 > 1,000,000.00 Excess Overcollateralized Amount > 0.00 Overcollateralization Release Amount > 0.00 Overcollateralization Deficiency Amount > 1.00 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 October 25, 2002 Distribution Collateral Report COLLATERAL > GROUP 2 GROUP 1 TOTAL Loan Count: Original > 120 695 815 Prior > 140 837 977 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -3 -16 -19 Repurchases > 0 0 0 Liquidations > 0 -1 -1 Current > 137 820 957 Principal Balance: Original > 48517658.43 107380483.9 155898142.4 Prior > 57204512.67 128613543.9 185818056.5 Prefunding > 0 0 0 Scheduled Principal > -54644.92 -100944.12 -155589.04 Partial and Full Voluntary Prepayments > -1683021.92 -2715153.22 -4398175.14 Repurchases > 0 0 0 Liquidations > 0 -83642.07 -83642.07 Current > 55466845.83 125713804.4 181180650.3 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 October 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 > 0.075226331 0.084849885 0.081878333 Weighted Average Coupon Current > 0.075142089 0.084805905 0.081830877 Weighted Average Months to Maturity Original > 344 340 341.2496346 Weighted Average Months to Maturity Prior > 337 332 333.5392614 Weighted Average Months to Maturity Current > 335 330 331.5307056 Weighted Avg Remaining Amortization Term Original > 345.1975174 348.1456083 347.2245992 Weighted Avg Remaining Amortization Term Prior > 338.4988665 340.3732872 339.7962425 Weighted Avg Remaining Amortization Term Current > 336.7954996 339.0247192 338.3422634 Weighted Average Seasoning Original > 1.84278944 1.99128947 1.944896778 Weighted Average Seasoning Prior > 8.33971875 8.52150899 8.46554445 Weighted Average Seasoning Current > 9.36766108 9.52589257 9.477451406 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 October 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 > 2,112.53 5,225.94 7,338.47 Delinquent Servicing Fees > 11,235.19 24,783.89 36,019.08 TOTAL SERVICING FEES > 13,347.72 30,009.83 43,357.55 Total Servicing Fees > 13,347.72 30,009.83 43,357.55 Compensating Interest > 6,706.52 11,165.20 17,871.72 Delinquent Servicing Fees > (11,235.19) (24,783.89) (36,019.08) COLLECTED SERVICING FEES > 8,819.05 16,391.14 25,210.19 Current PPIS > (6,706.52) (11,165.20) (17,871.72) Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 46,266.15 84,279.97 130,546.12 Total Advanced Interest For Current Payment Date > 291,166.88 729,347.99 1,020,514.87 TOTAL ADVANCES FOR CURRENT PERIOD > 337,433.03 813,627.96 1,151,060.99 ADDITIONAL COLLATERAL INFORMATION > GROUP 2 GROUP 1 TOTAL Weighted Average Net Mortgage Rate > 7.1968% 8.1179% 7.8343% Page 14 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for October 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2738574.98 1934447.14 720431.01 5393453.13 % Balance >0.015115163 0.010676897 0.003976313 0.029768373 # Loans > 17 11 6 34 % # Loans >0.017763845 0.011494253 0.006269592 0.035527691 FORECLOSURE Balance 273694.27 > 0 0 2099828.08 2373522.35 % Balance 0.001510615 > 0 0 0.011589693 0.013100308 # Loans 1 > 0 0 12 13 % # Loans 0.001044932 > 0 0 0.012539185 0.013584117 BANKRUPTCY Balance 0 > 0 0 118275.61 118275.61 % Balance 0 > 0 0 0.000652805 0.000652805 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.001044932 0.001044932 REO Balance 0 > 0 0 1079969.26 1079969.26 % Balance 0 > 0 0 0.005960732 0.005960732 # Loans 0 > 0 0 5 5 % # Loans 0 > 0 0 0.00522466 0.00522466 TOTAL Balance 273694.27 > 2738574.98 1934447.14 4018503.96 8965220.35 % Balance 0.001510615 >0.015115163 0.010676897 0.022179543 0.049482218 # Loans 1 > 17 11 24 53 % # Loans 0.001044932 >0.017763845 0.011494253 0.02507837 0.0553814 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 October 25, 2002 Distribution Delinquency Report - Group 1 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2738574.98 1934447.14 720431.01 5393453.13 % Balance >0.021784203 0.015387707 0.005730723 0.042902632 # Loans > 17 11 6 34 % # Loans >0.020731707 0.013414634 0.007317073 0.041463415 FORECLOSURE Balance 273694.27 > 0 0 1777695.78 2051390.05 % Balance 0.002177122 > 0 0 0.014140816 0.016317938 # Loans 1 > 0 0 11 12 % # Loans 0.001219512 > 0 0 0.013414634 0.014634146 BANKRUPTCY Balance 0 > 0 0 118275.61 118275.61 % Balance 0 > 0 0 0.000940832 0.000940832 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.001219512 0.001219512 REO Balance 0 > 0 0 766372.71 766372.71 % Balance 0 > 0 0 0.00609617 0.00609617 # Loans 0 > 0 0 4 4 % # Loans 0 > 0 0 0.004878049 0.004878049 TOTAL Balance 273694.27 > 2738574.98 1934447.14 3382775.11 8329491.5 % Balance 0.002177122 >0.021784203 0.015387707 0.026908541 0.066257572 # Loans 1 > 17 11 22 51 % # Loans 0.001219512 >0.020731707 0.013414634 0.026829268 0.062195122 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 October 25, 2002 Distribution Delinquency Report - Group 2 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 0 0 0 0 % Balance > 0 0 0 0 # Loans > 0 0 0 0 % # Loans > 0 0 0 0 FORECLOSURE Balance 0 > 0 0 322132.3 322132.3 % Balance 0 > 0 0 0.005807655 0.005807655 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.00729927 0.00729927 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 313596.55 313596.55 % Balance 0 > 0 0 0.005653766 0.005653766 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.00729927 0.00729927 TOTAL Balance 0 > 0 0 635728.85 635728.85 % Balance 0 > 0 0 0.011461421 0.011461421 # Loans 0 > 0 0 2 2 % # Loans 0 > 0 0 0.01459854 0.01459854 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 October 25, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 3 Loan Group 1 >= Group 1 Group; REO Book Value = Not Available Total Original Principal Balance = 598,500.00 Loan Group 2 > = Group 2 Group; REO Book Value = Not Available Total Current Balance = 596,238.98 REO Book Value = Not Available REO Book Value reported corresponds to total REO loans, including loans thatbe >come REO during current distribution. Loan Number Original Stated Curr >ent State & & Principal Principal Paid to Note > LTV at Original Origination Loan Group Balance Balance Date Rate > Origination Term Date 1100343272 1 198000 197226.68 37347 > 0.1025GA - 90.00% 360 37273 1100343353 1 144000 143437.55 37257 > 0.1025CA - 100.00% 360 37259 1109004724 1 256500 255574.75 37347 > 0.10625GA - 95.00% 360 37286 Page 18 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > GROUP 2 GROUP 1 TOTAL Current Number of Paid in Full Loans > 3 16 19 Number of Repurchased Loans > 0 0 0 Total Number of Loans Prepaid in Full > 3 16 19 Paid in Full Balance > 1664783.07 2700285.69 4365068.76 Repurchased Loans Balance > 0 0 0 Curtailments Amount > 18238.85 14867.53 33106.38 Total Prepayment Amount > 1683021.92 2715153.22 4398175.14 Cumulative Number of Paid in Full Loans > 15 66 81 Number of Repurchased Loans > 0 4 4 Total Number of Loans Prepaid in Full > 15 70 85 Paid in Full Balance > 5868774.57 10524341.94 16393116.51 Repurchased Loans Balance > 0 617628.32 617628.32 Curtailments Amount > 346880.24 38984.51 385864.75 Total Prepayment Amount > 6215654.81 11180954.77 17396609.58 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 October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > GROUP 2 GROUP 1 TOTAL SMM > 0.029449271 0.021127525 0.023689091 3 Months Avg SMM > 0.016303423 0.012305173 0.013535575 12 Months Avg SMM Avg SMM Since Cut-off > 0.011706492 0.009541616 0.010208871 CPR > 0.301415599 0.22604912 0.250006149 3 Months Avg CPR > 0.179017454 0.138067319 0.150864231 12 Months Avg CPR Avg CPR Since Cut-off > 0.131776956 0.108677658 0.115856645 PSA > 16.08809267 11.86498371 13.18952419 3 Months Avg PSA Approximation > 10.70933489 8.101546883 8.904852927 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 12.13432342 9.748436473 10.47600735 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 October 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 October 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 19 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 4,389,115.00 > Loan Group 2 = Group 2 Group Total Prepayment Amount = 4,365,068.76 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 1100335936 1 77850 77276.11 > 37504 0.08625CA - 90.00% Paid Off - 36 37281 1100341816 1 100000 99394.16 > 37508 0.09FL - 66.67% Paid Off - 36 37244 1100342532 1 105355 104806 > 37515 0.08875GA - 95.00% Paid Off - 36 37266 1100342886 1 171000 170036.65 > 37510 0.07875SC - 73.71% Paid Off - 36 37266 1100342973 1 202500 201447.54 > 37524 0.08875RI - 90.00% Paid Off - 36 37264 1100343106 1 262500 260565.19 > 37502 0.065CA - 70.00% Paid Off - 36 37264 1100343445 1 118750 118193.14 > 37512 0.09375GA - 95.00% Paid Off - 36 37243 1100344576 1 292500 291515.27 > 37511 0.10375FL - 90.00% Paid Off - 36 37284 1100345166 1 167200 166694.08 > 37526 0.10875CA - 95.00% Paid Off - 36 37271 1100345317 1 84550 84225.28 > 37509 0.0975FL - 95.00% Paid Off - 36 37270 1100345581 1 92150 91725.83 > 37529 0.08875FL - 95.00% Paid Off - 36 37286 1109004212 1 197900 196563.6 > 37524 0.085CA - 89.96% Paid Off - 36 37244 1109004460 1 200610 199839.62 > 37502 0.0975CA - 90.00% Paid Off - 36 37284 2500012684 1 222300 221495.51 > 37519 0.09375CA - 90.00% Paid Off - 36 37281 2500013028 1 135000 134329.31 > 37508 0.085FL - 90.00% Paid Off - 36 37244 2500013344 1 283450 282178.4 > 37510 0.09CA - 89.99% Paid Off - 36 37246 1100344545 2 540000 537660.85 > 37524 0.085NC - 72.98% Paid Off - 36 37286 1109004119 2 675500 669562.38 > 37505 0.0725CA - 70.00% Paid Off - 36 37270 2500013852 2 460000 457559.84 > 37503 0.075WA - 80.00% Paid Off - 36 37280 Page > 22 of 28 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for October 25, 2002 Distribution Realized Loss Report - Collateral COLLATERAL REALIZED LOSSES > GROUP 2 GROUP 1 TOTAL Current Number of Loans Liquidated > 0 1 1 Collateral Realized Loss/(Gain) Amount > 0 1 1 Net Liquidation Proceeds > 0 83641.07 83641.07 Cumulative Number of Loans Liquidated > 0 1 1 Collateral Realized Loss/(Gain) Amount > 0 1 1 Net Liquidation Proceeds > 0 83641.07 83641.07 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 October 25, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > GROUP 2 GROUP 1 TOTAL MDR > 0 0.000650336 0.000450129 3 Months Avg MDR > 0 0.000216826 0.000150065 12 Months Avg MDR Avg MDR Since Cut-off > 0 7.22805E-05 5.00243E-05 CDR > 0 0.007776183 0.005388194 3 Months Avg CDR > 0 0.002598809 0.0017993 12 Months Avg CDR Avg CDR Since Cut-off > 0 0.000867021 0.000600127 SDA > 0 0.040816036 0.028426385 3 Months Avg SDA Approximation > 0 0.015249354 0.010620478 12 Months Avg SDA Approximation Avg SDA Since Cut-off Approximation > 0 0.007777221 0.005426476 Loss Severity Approximation for Current Period > 1.19557E-05 1.19557E-05 3 Months Avg Loss Severity Approximation > 1.19557E-05 1.19557E-05 12 Months Avg Loss Severity Approximation Avg Loss Severity Approximation Since Cut-off > 1.19557E-05 1.19557E-05 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 October 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 clude realized 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 October 25, 2002 Distribution Realized Loss Detail Report - Loans Liquidated During Current >Distribution SUMMARY > LOAN GROUP Total Loan Count = 1 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 84,000.00 > Loan Group 2 = Group 2 Group Total Prior Principal Balance = 83,642.07 Total Realized Loss Amount = 1.00 Total Net Liquidation Proceeds = 83,641.07 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 1109004532 1 84000 83642.07 > 1 0.0925GA - 80.00% 360 37256 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 October 2 >5, 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 > 154,423.00 Net WAC Shortfall > 7,357.92 Net WAC Shortfall Reserve Fund Ending Balance > 147,065.08 Page 27 of 28 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Additional Certificate Report for October 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-----