-----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, VBGmr+RWo6W6g3arjhi0tAhWqaamzKCa30/NVxU6Nv30HMFor80JQWpvHM6QTQCj wu5XzgpTNTB0dd2aw/5Hfg== 0001020242-02-000440.txt : 20021204 0001020242-02-000440.hdr.sgml : 20021204 20021204105039 ACCESSION NUMBER: 0001020242-02-000440 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: 02848081 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 im02s28k7.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 33-071-5871 (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 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. 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: 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-S2 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 > 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.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: 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: October 25, >2002 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: September >30, 2002 > 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 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) LTA1 5098810 > 0 0 0 0 0 > 0 0 LTA2 12500000 > 12500000 67708.3333 0 67708.3333 0 > 0 12500000 LTA3 25000000 > 25000000 135416.6667 0 135416.6667 0 > 0 25000000 LTA4 48440478 >43262045.22 306439.487 1239778.33 1546217.817 0 > 0 42022266.89 LTA6 90299000 > 90299000 489119.5833 0 489119.5833 0 > 0 90299000 LTA7 48440480 >43262047.02 162232.6763 1239778.39 1402011.066 0 > 0 42022268.63 LTMB 20000000 >19890223.12 107738.7086 25571.82 133310.5286 0 > 0 19864651.3 LTIO 0 > 0 334567.2231 0 334567.2231 0 > 0 0 LTPO 220587 > 218989.39 0 279.48 279.48 0 > 0 218709.91 LTP 100 > 100 24230.7317 0 24230.7317 0 > 0 100 LTR2 50 > 0 0 0 0 0 > 0 0 Total 249999505 >234432404.8 1627453.41 2505408.02 4132861.43 0 > 0 231926996.7 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 > 5098810 0 0 0 > 0 0 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 893.0969926 6.326103698 25.59385004 31.9 >1995374 867.5031425 LTA6 F-30/360 > 90299000 1000 5.416666666 0 5.41 >6666666 1000 LTA7 F-30/360 > 48440480 893.0969928 3.349113723 25.59385023 28.9 >4296395 867.5031426 LTMB F-30/360 > 20000000 994.511156 5.38693543 1.278591 6.6 >6552643 993.232565 LTIO F-30/360 > 242265076.9 935.9703277 1.3809965 0 1. >3809965 925.669673 LTPO F-30/360 > 220587 992.7574608 0 1.266983095 1.26 >6983095 991.4904777 LTP F-30/360 > 100 1000 242307.317 0 242 >307.317 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 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) LTA1 5098810 69239.797 >4638381.818 460428.1822 5098810 5168049.797 0 > 0 0 LTA2 12500000 473958.3331 > 0 0 0 473958.3331 0 > 0 12500000 LTA3 25000000 947916.6669 > 0 0 0 947916.6669 0 > 0 25000000 LTA4 48440478 2332478.235 >6070844.174 347366.9357 6418211.11 8750689.345 0 > 0 42022266.89 LTA6 90299000 3423837.083 > 0 0 0 3423837.083 0 > 0 90299000 LTA7 48440480 1234841.47 > 6070844.42 347366.9501 6418211.37 7653052.84 0 > 0 42022268.63 LTMB 20000000 756116.2373 > 122882.201 12466.49902 135348.7 891464.9373 0 > 0 19864651.3 LTIO 0 2443509.714 > 0 0 0 2443509.714 0 > 0 0 LTPO 220587 0 >1728.953516 148.1364837 1877.09 1877.09 0 > 0 218709.91 LTP 100 162702.2119 > 0 0 0 162702.2119 0 > 0 100 LTR2 50 0.2708 >44.04173125 5.958268754 50 50.2708 0 > 0 0 Total 249999505 11844600.02 >16904725.61 1167782.662 18072508.27 29917108.29 0 > 0 231926996.7 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 0 > 0 0 0 0 0 > 0 0 LTA2 0.065 12500000 > 0 0 0 0 0 677 >08.3333 0 LTA3 0.065 25000000 > 0 0 0 0 0 354 >16.6667 0 LTA4 0.085 43262045.22 > 0 0 0 0 0 306 >439.487 0 LTA6 0.065 90299000 > 0 0 0 0 0 4891 >19.5833 0 LTA7 0.045 43262047.02 > 0 0 0 0 0 1622 >32.6763 0 LTMB 0.065 19890223.12 > 0 0 0 0 0 1077 >38.7086 0 LTIO 0.017705517 226752923.4 > 0 0 0 0 0 345 >67.2231 0 LTPO 218989.39 > 0 0 0 0 0 > 0 0 LTP 0.065 100 > 0 0 0 0 0 242 >30.7317 0 LTR2 0.065 0 > 0 0 0 0 0 > 0 0 Total 461185328.1 > 0 0 0 0 0 162 >7453.41 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 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-1 SEQ,AS 5098810 > 0 0 0 0 0 > 0 0 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 >43262045.22 75122.74 1239778.33 1314901.07 0 > 0 42022266.89 A-5 IO,INV,NTL 0 > 0 231316.75 0 231316.75 0 > 0 0 A-6 SEQ,AS 90299000 > 90299000 489119.58 0 489119.58 0 > 0 90299000 A-7 SEQ,AS 48440480 >43262047.02 162232.68 1239778.39 1402011.07 0 > 0 42022268.63 A-PO PO,RSTP 220587 > 218989.39 0 279.48 279.48 0 > 0 218709.91 A-IO IO,CSTR,NTL 0 > 0 334567.22 0 334567.22 0 > 0 0 M-1 MEZ,NAS 6250000 > 6195633.17 33559.68 7979.3 41538.98 0 > 0 6187653.87 M-2 MEZ,NAS 5000000 > 4979850.9 26974.19 6397.28 33371.47 0 > 0 4973453.62 M-3 MEZ,NAS 3500000 > 3485895.62 18881.93 4478.1 23360.03 0 > 0 3481417.52 B-1 SUB,NAS 1500000 > 1493955.27 8092.26 1919.18 10011.44 0 > 0 1492036.09 B-2 SUB,NAS 1125000 > 1120466.45 6069.19 1439.39 7508.58 0 > 0 1119027.06 B-3 SUB,NAS 2625000 > 2614421.71 14161.45 3358.57 17520.02 0 > 0 2611063.14 P SUB,NAS 100 > 100 24230.73 0 24230.73 0 > 0 100 R R,CPT,AS 100 > 0 0 0 0 0 > 0 0 Total 249999555 >234432404.8 1627453.4 2505408.02 4132861.42 0 > 0 231926996.7 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 5098810 0 0 0 > 0 0 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 893.0969926 1.550825737 25.59385004 27.1 >4467578 867.5031425 A-5 A-30/360 4525 >4TLF9 48440478 893.0969926 4.775278023 0 4.77 >5278023 867.5031425 A-6 F-30/360 4525 >4TLG7 90299000 1000 5.41666663 0 5.4 >1666663 1000 A-7 F-30/360 4525 >4TLT9 48440480 893.0969928 3.349113799 25.59385023 28.9 >4296403 867.5031426 A-PO F-30/360 4525 >4TLJ1 220587 992.7574608 0 1.266983095 1.26 >6983095 991.4904777 A-IO A-30/360 4525 >4TLH5 242265076.9 935.9703277 1.380996487 0 1.38 >0996487 925.669673 M-1 F-30/360 4525 >4TLL6 6250000 991.3013072 5.3695488 1.276688 6. >6462368 990.0246192 M-2 F-30/360 4525 >4TLM4 5000000 995.97018 5.394838 1.279456 6 >.674294 994.690724 M-3 F-30/360 4525 >4TLN2 3500000 995.9701771 5.394837143 1.279457143 6.67 >4294286 994.69072 B-1 F-30/360 4525 >4TLQ5 1500000 995.97018 5.39484 1.279453333 6.67 >4293333 994.6907267 B-2 F-30/360 4525 >4TLR3 1125000 995.9701778 5.394835556 1.279457778 6.67 >4293333 994.69072 B-3 F-30/360 4525 >4TLS1 2625000 995.9701752 5.394838095 1.279455238 6.67 >4293333 994.69072 P F-30/360 4525 >4TLP7 100 1000 242307.3 0 2 >42307.3 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 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-1 5098810 69239.79 >4638381.818 460428.1822 5098810 5168049.79 0 > 0 0 A-2 12500000 473958.31 > 0 0 0 473958.31 0 > 0 12500000 A-3 25000000 947916.69 > 0 0 0 947916.69 0 > 0 25000000 A-4 48440478 579633.45 >6070844.174 347366.9357 6418211.11 6997844.56 0 > 0 42022266.89 A-5 0 1752844.79 > 0 0 0 1752844.79 0 > 0 0 A-6 90299000 3423837.06 > 0 0 0 3423837.06 0 > 0 90299000 A-7 48440480 1234841.47 > 6070844.42 347366.9501 6418211.37 7653052.84 0 > 0 42022268.63 A-PO 220587 0 >1728.953516 148.1364837 1877.09 1877.09 0 > 0 218709.91 A-IO 0 2443509.7 > 0 0 0 2443509.7 0 > 0 0 M-1 6250000 235742.91 >55419.80762 6926.322376 62346.13 298089.04 0 > 0 6187653.87 M-2 5000000 189226.66 >24531.77053 2014.609474 26546.38 215773.04 0 > 0 4973453.62 M-3 3500000 132458.65 >17172.25234 1410.227661 18582.48 151041.13 0 > 0 3481417.52 B-1 1500000 56768.01 >7359.527528 604.3824719 7963.91 64731.92 0 > 0 1492036.09 B-2 1125000 42576.01 >5519.652963 453.2870368 5972.94 48548.95 0 > 0 1119027.06 B-3 2625000 99343.99 > 12879.19 1057.670001 13936.86 113280.85 0 > 0 2611063.14 P 100 162702.2 > 0 0 0 162702.2 0 > 0 100 R 100 0.54 >88.08346249 11.91653751 100 100.54 0 > 0 0 Total 249999555 11844600.23 >16904769.65 1167788.62 18072558.27 29917158.5 0 > 0 231926996.7 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 0 > 0 0 0 0 0 > 0 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 0.0208375 43262045.22 > 0 0 0 0 0 7 >5122.74 0 A-5 0.0641625 43262045.22 > 0 0 0 0 0 23 >1316.75 0 A-6 0.065 90299000 > 0 0 0 0 0 48 >9119.58 0 A-7 0.045 43262047.02 > 0 0 0 0 0 16 >2232.68 0 A-PO 218989.39 > 0 0 0 0 0 > 0 0 A-IO 0.017705644 226752923.4 > 0 0 0 0 0 33 >4567.22 0 M-1 0.065 6195633.17 > 0 0 0 0 0 3 >3559.68 0 M-2 0.065 4979850.9 > 0 0 0 0 0 2 >6974.19 0 M-3 0.065 3485895.62 > 0 0 0 0 0 1 >8881.93 0 B-1 0.065 1493955.27 > 0 0 0 0 0 >8092.26 0 B-2 0.065 1120466.45 > 0 0 0 0 0 >6069.19 0 B-3 0.065 2614421.71 > 0 0 0 0 0 1 >4161.45 0 P 0.065 100 > 0 0 0 0 0 2 >4230.73 0 R 0.065 0 > 0 0 0 0 0 > 0 0 Total 504447373.3 > 0 0 0 0 0 16 >27453.4 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 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) 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 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) R-1 50 0.27 >44.04173125 5.958268754 50 50.27 0 > 0 0 R-2 50 0.27 >44.04173125 5.958268754 50 50.27 0 > 0 0 Total 100 0.54 >88.08346249 11.91653751 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 October 25, 2002 Distribution Collection Account Report SUMMARY > TOTAL Principal - Collections > 2,505,408.02 Principal - Withdrawals > 0.00 Principal - Other Accounts > 0.00 TOTAL NET PRINCIPAL > 2,505,408.02 Interest Collections > 1,649,273.33 Interest Withdrawals > 0.00 Interest Fees > (21,819.93) TOTAL NET INTEREST > 1,627,453.40 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 4,132,861.42 PRINCIPAL - COLLECTIONS > TOTAL Scheduled Principal > 178,150.16 Curtailments > 43,149.31 Prepayments In Full > 2,161,100.34 Repurchases/Substitutions > 123,008.21 Liquidations > 0.00 Insurance Principal > 0.00 Other Principal > 0.00 Delinquent Principal > (145,387.30) Principal Advanced > 145,387.30 Total Realized Loss Of Principal > 0.00 TOTAL PRINCIPAL COLLECTED > 2,505,408.02 Page 8 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for October 25, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > TOTAL INTEREST - COLLECTIONS > TOTAL Scheduled Interest > 1,669,638.29 Repurchases/Substitutions > 1,025.07 Liquidation Interest > 0.00 Insurance Interest > 0.00 Other Interest > 0.00 Delinquent Interest > (1,400,918.17) Interest Advanced > 1,355,297.95 Prepayment Interest Shortfalls > (6,642.01) Compensating Interest > 6,642.01 Civil Relief Act Shortfalls > 0.00 Prepayment Premiums > 24,230.19 TOTAL INTEREST COLLECTED > 1,649,273.33 Page 9 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for October 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 > 11,176.26 Trustee Fee Amount > 1,562.89 Current Servicing Fees > 9,080.78 TOTAL INTEREST OTHER FEES > 21,819.93 Page 10 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Credit Enhancement Report for October 25, 2002 Distribution Credit Enhancement Report ACCOUNTS > TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > TOTAL Radian PMI Premium > 11,176.26 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 October 25, 2002 Distribution Collateral Report COLLATERAL > TOTAL Loan Count: Original > 1147 Prior > 1393 Prefunding > 0 Scheduled Paid Offs > 0 Full Voluntary Prepayments > -14 Repurchases > -1 Liquidations > 0 Current > 1378 Principal Balance: Original > 193381668.6 Prior > 234432849.8 Prefunding > 0 Scheduled Principal > -178150.16 Partial and Full Voluntary Prepayments > -2204249.65 Repurchases > -123008.21 Liquidations > 0 Current > 231927441.7 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 October 25, 2002 Distribution Collateral Report CHARACTERISTICS > TOTAL Weighted Average Coupon Original > 0.085584298 Weighted Average Coupon Prior > 0.085555654 Weighted Average Coupon Current > 0.085516856 Weighted Average Months to Maturity Original > 340 Weighted Average Months to Maturity Prior > 335 Weighted Average Months to Maturity Current > 334 Weighted Avg Remaining Amortization Term Original > 349.7924593 Weighted Avg Remaining Amortization Term Prior > 343.6687263 Weighted Avg Remaining Amortization Term Current > 342.5360838 Weighted Average Seasoning Original > 2.9738338 Weighted Average Seasoning Prior > 7.44607174 Weighted Average Seasoning Current > 8.45448837 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 October 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 > 9,080.78 Delinquent Servicing Fees > 45,620.22 TOTAL SERVICING FEES > 54,701.00 Total Servicing Fees > 54,701.00 Compensating Interest > (6,642.01) Delinquent Servicing Fees > (45,620.22) COLLECTED SERVICING FEES > 2,438.77 ADDITIONAL COLLATERAL INFORMATION > TOTAL Weighted Average Net Mortgage Rate > 8.2065% Page 14 of 25 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 > 3795122.67 1084482.2 1813234.91 6692839.78 % Balance >0.016363405 0.004675955 0.007818113 0.028857473 # Loans > 22 6 9 37 % # Loans >0.015965167 0.004354136 0.006531205 0.026850508 FORECLOSURE Balance 0 > 0 0 987931 987931 % Balance 0 > 0 0 0.004259655 0.004259655 # Loans 0 > 0 0 5 5 % # Loans 0 > 0 0 0.003628447 0.003628447 BANKRUPTCY Balance 0 > 124343.85 0 150054.54 274398.39 % Balance 0 >0.000536133 0 0.000646989 0.001183122 # Loans 0 > 1 0 1 2 % # Loans 0 >0.000725689 0 0.000725689 0.001451379 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 > 3919466.52 1084482.2 2951220.45 7955169.17 % Balance 0 >0.016899538 0.004675955 0.012724757 0.03430025 # Loans 0 > 23 6 15 44 % # Loans 0 >0.016690856 0.004354136 0.010885341 0.031930334 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 October 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 October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > TOTAL Current Number of Paid in Full Loans > 14 Number of Repurchased Loans > 1 Total Number of Loans Prepaid in Full > 15 Paid in Full Balance > 2161100.34 Repurchased Loans Balance > 123008.21 Curtailments Amount > 43149.31 Total Prepayment Amount > 2327257.86 Cumulative Number of Paid in Full Loans > 97 Number of Repurchased Loans > 1 Total Number of Loans Prepaid in Full > 98 Paid in Full Balance > 16447204.32 Repurchased Loans Balance > 123008.21 Curtailments Amount > 287357.99 Total Prepayment Amount > 16857570.52 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 October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > TOTAL SMM > 0.009934733 3 Months Avg SMM > 0.013802518 12 Months Avg SMM Avg SMM Since Cut-off > 0.010072365 CPR > 0.11291364 3 Months Avg CPR > 0.153617505 12 Months Avg CPR Avg CPR Since Cut-off > 0.114392315 PSA > 6.677733468 3 Months Avg PSA Approximation > 10.31609466 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 10.38241518 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 October 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 October 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 = 2,294,100.00 Total Prepayment Amount = 2,284,108.55 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 1100338439 1 80800 80177.64 > 37524 0.08375TN - 80.00% Paid Off - 18 37288 1100345009 1 78408 78067.83 > 37525 0.08875AZ - 90.00% Paid Off - 36 37285 1100345648 1 199700 198991.24 > 37510 0.10125MA - 90.00% Paid Off - 36 37287 1100345940 1 218500 217691.58 > 37525 0.085VA - 95.00% Paid Off - 36 37334 1100346188 1 100000 99700.53 > 37526 0.08625WA - 62.50% Paid Off - 36 37342 1100346664 1 90000 89658.41 > 37515 0.0875CO - 60.00% Paid Off - 36 37320 1100347294 1 96750 96320.03 > 37510 0.0875TX - 90.00% Paid Off - 36 37315 1100347450 1 175000 174202.55 > 37526 0.0825CA - 74.47% Paid Off - 36 37313 1100347859 1 307402 306523.76 > 37509 0.0975FL - 95.00% Paid Off - 36 37315 1100347943 1 180400 179715.34 > 37517 0.08375CA - 92.51% Paid Off - 36 37342 1109004613 1 122940 122167.72 > 37517 0.10625FL - 90.00% Paid Off - 18 37329 1109005021 1 104600 103001.15 > 37519 0.09625CA - 74.72% Paid Off - 18 37323 1109005362 1 141200 140367 > 37504 0.0825MI - 80.00% Paid Off - 36 37344 2500015783 1 275000 274515.56 > 37529 0.1025IL - 94.83% Paid Off - 36 37348 1100347275 1 123400 123008.21 > 37529 0.1FL - 95.00% Repur/Subs - 37335 Page > 20 of 25 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for October 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 October 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 October 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 clude realized 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 October 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 October 2 >5, 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 > 2,479,556.72 Subordinate Principal Distribution Amount > 25,551.64 Senior Accelerated Distribution Percentage > 100.0000% Senior Percentage > 91.5074% 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-----