-----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, RQ9TedTxyV4GJi2JJ2ao3GI5gnKGOt+eRen/Y5wiRyHNIfKHiCHLWSHb3ciJpMk2 AmWsIAUGKLO7qjFDz9LBFQ== 0001020242-02-000471.txt : 20021213 0001020242-02-000471.hdr.sgml : 20021213 20021213095901 ACCESSION NUMBER: 0001020242-02-000471 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021125 ITEM INFORMATION: Other events FILED AS OF DATE: 20021213 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: 02856317 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 im02s111.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): November 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 November 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: Dec 12, 2002 By: /s/ Katie Wannenmacher Katie Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of November 25, 2002. IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates November 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: November 25, > 2002 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: October 31 >, 2002 > Page 1 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for November 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 >154428927.5 1007449.63 6240731.25 7248180.88 18652.9619 > 0 148169543.3 LT1B 1194.11 > 1103.0794 7.46 30.9303 38.3903 0.1381 > 0 1072.011 LT1C 538.39 > 519.7261 3.11 6.4299 9.5399 0 > 0 513.2962 LT1D 20000000 > 20000000 130474.21 0 130474.21 0 > 0 20000000 LT1E 5000000 > 5000000 32618.55 0 32618.55 0 > 0 5000000 LT1F 1750000 > 1750000 11416.49 0 11416.49 0 > 0 1750000 LT1P 100 > 100 73262.19 0 73262.19 0 > 0 100 R-1 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >181180650.3 1255231.64 6240768.61 7496000.25 18653.1 > 0 174921228.6 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 > 173248268.9 891.3735674 5.815063184 36.02189673 41.8 >3695992 855.2440046 LT1B F-30/360 > 1194.11 923.7669896 6.247330648 25.90238755 32. >1497182 897.7489511 LT1C F-30/360 > 538.39 965.3338658 5.776481733 11.94282955 17.7 >1931128 953.3910362 LT1D F-30/360 > 20000000 1000 6.5237105 0 6. >5237105 1000 LT1E F-30/360 > 5000000 1000 6.52371 0 >6.52371 1000 LT1F F-30/360 > 1750000 1000 6.523708571 0 6.52 >3708571 1000 LT1P F-30/360 > 100 1000 732621.9 0 7 >32621.9 1000 R-1 F-30/360 > 0 0 0 0 > 0 0 > Page 2 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for November 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 10829354.58 >23569072.98 1490998.677 25060071.66 35889426.24 18653.9619 > 0 148169543.3 LT1B 1194.11 78.38 > 114.75 7.2108 121.9608 200.3408 0.1381 > 0 1072.011 LT1C 538.39 31.97 > 23.63 1.4639 25.0939 57.0639 0 > 0 513.2962 LT1D 20000000 1308066.6 > 0 0 0 1308066.6 0 > 0 20000000 LT1E 5000000 327016.64 > 0 0 0 327016.64 0 > 0 5000000 LT1F 1750000 114455.83 > 0 0 0 114455.83 0 > 0 1750000 LT1P 100 179889.11 > 0 0 0 179889.11 0 > 0 100 R-1 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 12758893.11 >23569211.36 1491007.352 25060218.71 37819111.82 18654.1 > 0 174921228.6 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 0.078284527 154428927.5 > 1007449.63 0 0 0 1007449.63 100 >7449.63 0 LT1B 0.081100557 1103.0794 > 7.46 0 0 0 7.46 > 7.46 0 LT1C 0.071902085 519.7261 > 3.11 0 0 0 3.11 > 3.11 0 LT1D 0.078284527 20000000 > 130474.21 0 0 0 130474.21 13 >0474.21 0 LT1E 0.078284527 5000000 > 32618.55 0 0 0 32618.55 3 >2618.55 0 LT1F 0.078284527 1750000 > 11416.49 0 0 0 11416.49 1 >1416.49 0 LT1P 0.078284527 100 > 0.65 0 0 0 0.65 7 >3262.19 0 R-1 0 > 0 0 0 0 0 > 0 0 Total 181180650.3 > 1181970.1 0 0 0 1181970.1 125 >5231.64 0 > Page 3 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for November 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 >123200267.6 675653.46 5125570.47 5801223.93 0 > 0 118074697.1 LT2-AI1 308000 > 180042.47 1014.1 52301.74 53315.84 0 > 0 127740.73 LT2-AI2 179000 > 179000 1008.23 0 1008.23 0 > 0 179000 LT2-AI3 191000 > 191000 1075.82 0 1075.82 0 > 0 191000 LT2-AI4 255000 > 255000 1436.3 0 1436.3 0 > 0 255000 LT2-AI5 100000 > 100000 563.26 0 563.26 0 > 0 100000 LT2-AI6 252440 > 252440 1421.88 0 1421.88 0 > 0 252440 LT2-1M1 41354.3473 > 41354.3473 232.93 0 232.93 0 > 0 41354.3473 LT2-1M2 27569.5648 > 27569.5648 155.29 0 155.29 0 > 0 27569.5648 LT2-1B 24123.3692 > 24123.3692 135.88 0 135.88 0 > 0 24123.3692 LT2-1ZZ 1378486.49 >1263762.156 6745.16 52301.74 59046.9 0 > 0 1211460.416 LT2-2AA 60908326.36 >54356671.75 306167.48 1008662.82 1314830.3 0 > 0 53348008.93 LT2-AII 579560 > 509322.93 2868.79 10292.47 13161.26 0 > 0 499030.46 LT2-2M1 18645.6527 > 18645.6527 105.02 0 105.02 0 > 0 18645.6527 LT2-2M2 12430.4352 > 12430.4352 70.02 0 70.02 0 > 0 12430.4352 LT2-2B 10876.6308 > 10876.6308 61.26 0 61.26 0 > 0 10876.6308 LT2-2ZZ 621513.54 >558043.3603 3143.22 10292.47 13435.69 0 > 0 547750.8903 LT2A-IO 0 > 0 161458.33 0 161458.33 0 > 0 0 LT2P 100 > 100 73262.1 0 73262.1 0 > 0 100 R-2 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >181180650.3 1236578.53 6259421.71 7496000.24 0 > 0 174921228.6 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 911.9752763 5.001444095 37.94142364 42.9 >4286773 874.0338527 LT2-AI1 F-30/360 > 308000 584.553474 3.292532468 169.8108442 173. >1033766 414.7426299 LT2-AI2 F-30/360 > 179000 1000 5.632569832 0 5.63 >2569832 1000 LT2-AI3 F-30/360 > 191000 1000 5.632565445 0 5.63 >2565445 1000 LT2-AI4 F-30/360 > 255000 1000 5.63254902 0 5.6 >3254902 1000 LT2-AI5 F-30/360 > 100000 1000 5.6326 0 > 5.6326 1000 LT2-AI6 F-30/360 > 252440 1000 5.632546348 0 5.63 >2546348 1000 LT2-1M1 F-30/360 > 41354.3473 1000 5.632539629 0 5.63 >2539629 1000 LT2-1M2 F-30/360 > 27569.5648 1000 5.632660549 0 5.63 >2660549 1000 LT2-1B F-30/360 > 24123.3692 1000 5.632712366 0 5.63 >2712366 1000 LT2-1ZZ F-30/360 > 1378486.49 916.7751483 4.893163661 37.94142371 42.8 >3458737 878.8337246 LT2-2AA F-30/360 > 60908326.36 892.4341711 5.026693365 16.56034372 21.5 >8703709 875.8738274 LT2-AII F-30/360 > 579560 878.809666 4.949944786 17.75911036 22.7 >0905515 861.0505556 LT2-2M1 F-30/360 > 18645.6527 1000 5.632412106 0 5.63 >2412106 1000 LT2-2M2 F-30/360 > 12430.4352 1000 5.632948394 0 5.63 >2948394 1000 LT2-2B F-30/360 > 10876.6308 1000 5.632258843 0 5.63 >2258843 1000 LT2-2ZZ F-30/360 > 621513.54 897.8780419 5.057363674 16.56033109 21.6 >1769476 881.3177108 LT2A-IO F-30/360 > 26750000 934.5794393 6.035825421 0 6.03 >5825421 934.5794393 LT2P F-30/360 > 100 1000 732621 0 > 732621 1000 R-2 F-30/360 > 0 0 0 0 > 0 0 > Page 4 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for November 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 7362623.27 > 16069684.9 947292.94 17016977.84 24379601.11 0 > 0 118074697.1 LT2-AI1 308000 14398.79 > 169979.13 10280.14 180259.27 194658.06 0 > 0 127740.73 LT2-AI2 179000 10141.2 > 0 0 0 10141.2 0 > 0 179000 LT2-AI3 191000 10821.06 > 0 0 0 10821.06 0 > 0 191000 LT2-AI4 255000 14446.98 > 0 0 0 14446.98 0 > 0 255000 LT2-AI5 100000 5665.48 > 0 0 0 5665.48 0 > 0 100000 LT2-AI6 252440 14301.93 > 0 0 0 14301.93 0 > 0 252440 LT2-1M1 41354.3473 2342.91 > 0 0 0 2342.91 0 > 0 41354.3473 LT2-1M2 27569.5648 1561.95 > 0 0 0 1561.95 0 > 0 27569.5648 LT2-1B 24123.3692 1366.7 > 0 0 0 1366.7 0 > 0 24123.3692 LT2-1ZZ 1378486.49 68594.08 > 163976.36 9666.26 173642.62 242236.7 0 66 >16.5462 1211460.416 LT2-2AA 60908326.36 3297772.55 > 7047355.52 512961.91 7560317.43 10858089.98 0 > 0 53348008.93 LT2-AII 579560 31145.4 > 74957.75 5571.79 80529.54 111674.94 0 > 0 499030.46 LT2-2M1 18645.6527 1056.37 > 0 0 0 1056.37 0 > 0 18645.6527 LT2-2M2 12430.4352 704.25 > 0 0 0 704.25 0 > 0 12430.4352 LT2-2B 10876.6308 616.22 > 0 0 0 616.22 0 > 0 10876.6308 LT2-2ZZ 621513.54 30395.76 > 71911.78 5234.31 77146.09 107541.85 0 33 >83.4403 547750.8903 LT2A-IO 0 1682395.84 > 0 0 0 1682395.84 0 > 0 0 LT2P 100 179888.26 > 0 0 0 179888.26 0 > 0 100 R-2 0 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 12730239 >23597865.44 1491007.35 25088872.79 37819111.79 0 99 >99.9865 174921228.6 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 0.067590779 123200267.6 > 693933.5 0 0 18280.038 675653.462 67 >5653.46 0 LT2-AI1 0.067590779 180042.47 > 1014.1 0 0 0 1014.1 > 1014.1 0 LT2-AI2 0.067590779 179000 > 1008.23 0 0 0 1008.23 >1008.23 0 LT2-AI3 0.067590779 191000 > 1075.82 0 0 0 1075.82 >1075.82 0 LT2-AI4 0.067590779 255000 > 1436.3 0 0 0 1436.3 > 1436.3 0 LT2-AI5 0.067590779 100000 > 563.26 0 0 0 563.26 > 563.26 0 LT2-AI6 0.067590779 252440 > 1421.88 0 0 0 1421.88 >1421.88 0 LT2-1M1 0.067590779 41354.3473 > 232.93 0 0 0 232.93 > 232.93 0 LT2-1M2 0.067590779 27569.5648 > 155.29 0 0 0 155.29 > 155.29 0 LT2-1B 0.067590779 24123.3692 > 135.88 0 0 0 135.88 > 135.88 0 LT2-1ZZ 0.067590779 1263762.156 > 7118.22 0 0 373.062 6745.158 >6745.16 0 LT2-2AA 0.067590779 54356671.75 > 306167.48 0 0 0 306167.48 30 >6167.48 0 LT2-AII 0.067590779 509322.93 > 2868.79 0 0 0 2868.79 >2868.79 0 LT2-2M1 0.067590779 18645.6527 > 105.02 0 0 0 105.02 > 105.02 0 LT2-2M2 0.067590779 12430.4352 > 70.02 0 0 0 70.02 > 70.02 0 LT2-2B 0.067590779 10876.6308 > 61.26 0 0 0 61.26 > 61.26 0 LT2-2ZZ 0.067590779 558043.3603 > 3143.22 0 0 0 3143.22 >3143.22 0 LT2A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 LT2P 0.067590779 100 > 0.56 0 0 0 0.56 >73262.1 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 206180650.3 > 1181970.09 0 0 18653.1 1163316.99 123 >6578.53 0 > Page 5 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for November 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 > 18004256.6 31937.55 5230173.928 5262111.478 0 > 0 12774082.67 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 >50932293.67 275883.26 1029247.772 1305131.032 0 > 0 49903045.9 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 128773.94 0 128773.94 0 > 0 1000000 P SUB 100 > 100 73261.54 0 73261.54 0 > 0 100 R-3 R 0 > 0 0 0 0 0 > 0 0 Total 200000101.4 >181180650.3 1244988.22 6259421.7 7504409.92 0 > 0 174921228.6 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 37554 37584 F-30/360 4525 >4TKM5 30800000 584.5537857 1.036933442 169.8108418 170. >8477753 414.7429439 A-I-2 F-30/360 4525 >4TKN3 17900000 1000 3.825 0 > 3.825 1000 A-I-3 F-30/360 4525 >4TKP8 19100000 1000 4.641666492 0 4.64 >1666492 1000 A-I-4 F-30/360 4525 >4TKQ6 25500000 1000 5.241666667 0 5.24 >1666667 1000 A-I-5 F-30/360 4525 >4TKR4 10000000 1000 5.625 0 > 5.625 1000 A-I-6 F-30/360 4525 >4TKX1 25244000 1000 5.858333465 0 5.85 >8333465 1000 A-II F-30/360 4525 >4TKS2 57956000 878.8096775 4.760219132 17.75912368 22.5 >1934282 861.0505538 A-IO F-30/360 4525 >4TKT0 26750000 934.5794393 6.035825421 0 6.03 >5825421 934.5794393 M-1 F-30/360 4525 >4TKU7 6000000 1000 5.833333333 0 5.83 >3333333 1000 M-2 F-30/360 4525 >4TKV5 4000000 1000 5.8333325 0 5. >8333325 1000 B F-30/360 4525 >4TKW3 3500000 1000 5.833334286 0 5.83 >3334286 1000 C F-30/360 4525 >4TKZ6 200000101.4 910.9027897 0.643869374 0 0.64 >3869374 879.605697 P F-30/360 4525 >4TKY9 100 1000 732615.4 0 7 >32615.4 1000 R-3 F-30/360 4525 >4TLA0 0 0 0 0 > 0 0 > Page 6 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for November 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 433606.11 > 17016987.7 1008929.631 18025917.33 18459523.44 0 > 0 12774082.67 A-I-2 17900000 684675 > 0 0 0 684675 0 > 0 17900000 A-I-3 19100000 886558.3 > 0 0 0 886558.3 0 > 0 19100000 A-I-4 25500000 1336625 > 0 0 0 1336625 0 > 0 25500000 A-I-5 10000000 562500 > 0 0 0 562500 0 > 0 10000000 A-I-6 25244000 1478877.69 > 0 0 0 1478877.69 0 > 0 25244000 A-II 57956000 2977488.84 >7570876.364 482077.7386 8052954.103 11030442.94 0 > 0 49903045.9 A-IO 0 1682395.84 > 0 0 0 1682395.84 0 > 0 0 M-1 6000000 350000 > 0 0 0 350000 0 > 0 6000000 M-2 4000000 233333.34 > 0 0 0 233333.34 0 > 0 4000000 B 3500000 204166.69 > 0 0 0 204166.69 0 > 0 3500000 C 1.36 801475.59 > 0 0 0 801475.59 0 9999 >98.6384 1000000 P 100 179882.58 > 0 0 0 179882.58 0 > 0 100 R-3 0 0 >1.42109E-14 0 0 0 0 > 0 0 Total 200000101.4 11811584.98 >24587864.06 1491007.37 26078871.43 37890456.41 0 9999 >98.6384 174921228.6 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 0.0206 18004256.6 > 31937.55 0 0 0 31937.55 3 >1937.55 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 0.067590779 25244000 > 142188.47 0 0 5699.3 142188.47 14 >7887.77 0 A-II 0.065 50932293.67 > 275883.26 0 0 0 275883.26 27 >5883.26 0 A-IO 0.0775 25000000 > 161458.33 0 0 0 161458.33 16 >1458.33 0 M-1 0.067590779 6000000 > 33795.39 0 0 1204.61 33795.39 > 35000 0 M-2 0.067590779 4000000 > 22530.26 0 0 803.07 22530.26 2 >3333.33 0 B 0.067590779 3500000 > 19713.98 0 0 702.69 19713.98 2 >0416.67 0 C 0.00976442 182180650.3 > 147427 0 0 0 147427 12 >8773.94 18653.06 P 100 > 0 0 0 0 73261.54 7 >3261.54 0 R-3 0 > 0 0 0 0 0 > 0 0 Total 387361300.5 > 1181970.07 0 0 8409.67 1255231.61 124 >4988.22 18653.06 > Page 7 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for November 25, 2002 Distribution Collection Account Report SUMMARY > GROUP 2 GROUP 1 TOTAL Principal Collections > 1,026,180.61 5,214,587.99 6,240,768.60 Other Principal Deposits > 0.00 0.00 0.00 TOTAL NET PRINCIPAL > 1,026,180.61 5,214,587.99 6,240,768.60 Interest Collections > 337,186.77 871,755.23 1,282,203.54 Interest Withdrawals > 0.00 0.00 0.00 Interest Fees > (4,008.52) (14,553.70) (18,562.22) TOTAL NET INTEREST > 333,178.25 857,201.53 1,263,641.32 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 1,359,358.86 6,071,789.52 7,504,409.92 PRINCIPAL - COLLECTIONS > GROUP 2 GROUP 1 TOTAL Scheduled Principal > 54,246.66 98,160.68 152,407.34 Curtailments > 147.80 33,100.63 33,248.43 Prepayments In Full > 971,786.15 4,787,514.58 5,759,300.73 Repurchases/Substitutions > 0.00 212,298.03 212,298.03 Liquidations > 0.00 102,167.17 102,167.17 Insurance Principal > 0.00 0.00 0.00 Other Principal > 0.00 0.00 0.00 Delinquent Principal > (42,131.46) (79,989.51) (122,120.97) Total Realized Loss Of Principal > 0.00 (18,653.10) (18,653.10) Pre-funding Principal Paid > 0.00 0.00 0.00 Principal Advanced > 42,131.46 79,989.51 122,120.97 TOTAL PRINCIPAL COLLECTED > 1,026,180.61 5,214,587.99 6,240,768.60 Page 8 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for November 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 > 347,057.96 884,675.40 1,231,733.36 Repurchases/Substitutions > 0.00 1,680.69 1,680.69 Liquidation Interest > 0.00 925.89 925.89 Insurance Interest > 0.00 0.00 0.00 Other Interest > 0.00 0.00 0.00 Prepayment Interest Shortfalls > (2,743.99) (18,114.00) (20,857.99) Delinquent Interest > (288,826.93) (703,803.96) (992,630.89) Interest Realized Losses > 0.00 0.00 0.00 Compensating Interest > 2,743.99 18,114.00 20,857.99 Civil Relief Act Shortfalls > 0.00 0.00 0.00 Prepayment Premiums > 0.00 0.00 73,261.54 Pre-funding Intererst Coverage > 0.00 0.00 0.00 Interest Advanced > 278,125.98 680,697.30 958,823.28 Net WAC Shortfall > 829.76 7,579.91 8,409.67 TOTAL INTEREST COLLECTED > 337,186.77 871,755.23 1,282,203.54 Page 9 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collection Account Report for November 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 > 1,304.99 7,279.51 8,584.50 Trustee Fee Amount > 462.22 1,047.62 1,509.84 Extraordinary Trust Fund Expenses > 0.00 0.00 0.00 Current Servicing Fees > 12,942.26 29,333.23 42,275.49 Delinquent Servicing Fees > (10,700.95) (23,106.66) (33,807.61) TOTAL INTEREST OTHER FEES > 4,008.52 14,553.70 18,562.22 Page 10 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Credit Enhancement Report for November 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 > 18,653.10 Overcollateralization Target Amount > 1,000,000.00 Page 11 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for November 25, 2002 Distribution Collateral Report COLLATERAL > GROUP 2 GROUP 1 TOTAL Loan Count: Original > 120 695 815 Prior > 137 820 957 Prefunding > 0 0 0 Scheduled Paid Offs > 0 0 0 Full Voluntary Prepayments > -2 -24 -26 Repurchases > 0 -1 -1 Liquidations > 0 -1 -1 Current > 135 794 929 Principal Balance: Original > 48517658.43 107380483.9 155898142.4 Prior > 55466845.83 125713804.4 181180650.3 Prefunding > 0 0 0 Scheduled Principal > -54246.66 -98160.68 -152407.34 Partial and Full Voluntary Prepayments > -971933.95 -4820615.21 -5792549.16 Repurchases > 0 -212298.03 -212298.03 Liquidations > 0 -102167.17 -102167.17 Current > 54440665.22 120480563.4 174921228.6 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for November 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 > 0.075142089 0.084805905 0.081830877 Weighted Average Coupon Current > 0.075084412 0.084695422 0.081753097 Weighted Average Months to Maturity Original > 344 340 341.2496346 Weighted Average Months to Maturity Prior > 335 330 331.5307056 Weighted Average Months to Maturity Current > 334 329 330.556148 Weighted Avg Remaining Amortization Term Original > 345.1975174 348.1456083 347.2245992 Weighted Avg Remaining Amortization Term Prior > 336.7954996 339.0247192 338.3422634 Weighted Avg Remaining Amortization Term Current > 335.6219769 337.5039611 336.9182319 Weighted Average Seasoning Original > 1.84278944 1.99128947 1.944896778 Weighted Average Seasoning Prior > 9.36766108 9.52589257 9.477451406 Weighted Average Seasoning Current > 10.35643426 10.51925843 10.46858273 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Collateral Report for November 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 > 2,241.32 6,226.56 8,467.88 Delinquent Servicing Fees > 10,700.95 23,106.66 33,807.61 TOTAL SERVICING FEES > 12,942.27 29,333.22 42,275.49 Total Servicing Fees > 12,942.27 29,333.22 42,275.49 Compensating Interest > 2,743.99 18,114.00 20,857.99 Delinquent Servicing Fees > (10,700.95) (23,106.66) (33,807.61) COLLECTED SERVICING FEES > 4,985.31 24,340.56 29,325.87 Current PPIS > (2,743.99) (18,114.00) (20,857.99) Current Net PPIS > 0.00 0.00 0.00 Total Advanced Principal For Current Payment Date > 42,131.46 79,989.51 122,120.97 Total Advanced Interest For Current Payment Date > 278,125.98 680,697.30 958,823.28 TOTAL ADVANCES FOR CURRENT PERIOD > 320,257.44 760,686.81 1,080,944.25 ADDITIONAL COLLATERAL INFORMATION > GROUP 2 GROUP 1 TOTAL Weighted Average Net Mortgage Rate > 7.1902% 8.1101% 7.8285% Page 14 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for November 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2612575.08 618741.08 0 3231316.16 % Balance >0.014935723 0.003537256 0 0.018472979 # Loans > 17 4 0 21 % # Loans >0.018299247 0.004305705 0 0.022604952 FORECLOSURE Balance 0 > 0 0 3495157.06 3495157.06 % Balance 0 > 0 0 0.01998132 0.01998132 # Loans 0 > 0 0 21 21 % # Loans 0 > 0 0 0.022604952 0.022604952 BANKRUPTCY Balance 0 > 314963.85 0 262891.48 577855.33 % Balance 0 >0.001800604 0 0.001502914 0.003303517 # Loans 0 > 2 0 2 4 % # Loans 0 >0.002152853 0 0.002152853 0.004305705 REO Balance 0 > 0 0 1079444.96 1079444.96 % Balance 0 > 0 0 0.006171035 0.006171035 # Loans 0 > 0 0 5 5 % # Loans 0 > 0 0 0.005382131 0.005382131 TOTAL Balance 0 > 2927538.93 618741.08 4837493.5 8383773.51 % Balance 0 >0.016736327 0.003537256 0.027655268 0.047928851 # Loans 0 > 19 4 28 51 % # Loans 0 >0.020452099 0.004305705 0.030139935 0.05489774 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for November 25, 2002 Distribution Delinquency Report - Group 1 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2288050.9 618741.08 0 2906791.98 % Balance >0.018991038 0.005135609 0 0.024126647 # Loans > 16 4 0 20 % # Loans >0.020151134 0.005037783 0 0.025188917 FORECLOSURE Balance 0 > 0 0 3173126.05 3173126.05 % Balance 0 > 0 0 0.026337244 0.026337244 # Loans 0 > 0 0 20 20 % # Loans 0 > 0 0 0.025188917 0.025188917 BANKRUPTCY Balance 0 > 314963.85 0 262891.48 577855.33 % Balance 0 > 0.00261423 0 0.002182024 0.004796254 # Loans 0 > 2 0 2 4 % # Loans 0 >0.002518892 0 0.002518892 0.005037783 REO Balance 0 > 0 0 766010.57 766010.57 % Balance 0 > 0 0 0.00635796 0.00635796 # Loans 0 > 0 0 4 4 % # Loans 0 > 0 0 0.005037783 0.005037783 TOTAL Balance 0 > 2603014.75 618741.08 4202028.1 7423783.93 % Balance 0 >0.021605267 0.005135609 0.034877228 0.061618104 # Loans 0 > 18 4 26 48 % # Loans 0 >0.022670025 0.005037783 0.032745592 0.060453401 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Delinquency Report for November 25, 2002 Distribution Delinquency Report - Group 2 Group CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 324524.18 0 0 324524.18 % Balance >0.005961062 0 0 0.005961062 # Loans > 1 0 0 1 % # Loans >0.007407407 0 0 0.007407407 FORECLOSURE Balance 0 > 0 0 322031.01 322031.01 % Balance 0 > 0 0 0.005915266 0.005915266 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.007407407 0.007407407 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 313434.39 313434.39 % Balance 0 > 0 0 0.005757358 0.005757358 # Loans 0 > 0 0 1 1 % # Loans 0 > 0 0 0.007407407 0.007407407 TOTAL Balance 0 > 324524.18 0 635465.4 959989.58 % Balance 0 >0.005961062 0 0.011672624 0.017633686 # Loans 0 > 1 0 2 3 % # Loans 0 >0.007407407 0 0.014814815 0.022222222 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates REO Report for November 25, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 0 Loan Group 1 >= Group 1 Group; REO Book Value = Not Available Total Original Principal Balance = 000.00 Loan Group 2 > = Group 2 Group; REO Book Value = Not Available Total Current Balance = 000.00 REO Book Value = Not Available REO Book Value reported corresponds to total REO loans, including loans that be >come REO during current distribution. Loan Number Original Stated Curr >ent State & & Principal Principal Paid to Note > LTV at Original Origination Loan Group Balance Balance Date Rate > Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page 18 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > GROUP 2 GROUP 1 TOTAL Current Number of Paid in Full Loans > 2 24 26 Number of Repurchased Loans > 0 1 1 Total Number of Loans Prepaid in Full > 2 25 27 Paid in Full Balance > 971786.15 4787514.58 5759300.73 Repurchased Loans Balance > 0 212298.03 212298.03 Curtailments Amount > 147.8 33100.63 33248.43 Total Prepayment Amount > 971933.95 5032913.24 6004847.19 Cumulative Number of Paid in Full Loans > 17 90 107 Number of Repurchased Loans > 0 5 5 Total Number of Loans Prepaid in Full > 17 95 112 Paid in Full Balance > 6840560.72 15311856.52 22152417.24 Repurchased Loans Balance > 0 829926.35 829926.35 Curtailments Amount > 347028.04 72085.14 419113.18 Total Prepayment Amount > 7187588.76 16213868.01 23401456.77 SPACE INTENTIONALLY LEFT BLANK Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 19 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > GROUP 2 GROUP 1 TOTAL SMM > 0.017539945 0.040065975 0.033170775 3 Months Avg SMM > 0.020759964 0.024176428 0.023118491 12 Months Avg SMM Avg SMM Since Cut-off > 0.012291393 0.012637229 0.01252939 CPR > 0.191316055 0.387795346 0.332890334 3 Months Avg CPR > 0.222554531 0.254486253 0.244729243 12 Months Avg CPR Avg CPR Since Cut-off > 0.137922997 0.141538197 0.1404124 PSA > 9.236579436 18.43263706 15.89949387 3 Months Avg PSA Approximation > 11.89545354 13.36275853 12.9205726 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 11.64383357 11.66147698 11.65535448 Group 1 Group 2 CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 20 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Report for November 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,W >ASm)/(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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Prepayment Detail Report for November 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 27 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 6,013,037.00 > Loan Group 2 = Group 2 Group Total Prepayment Amount = 5,971,598.76 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 1100334235 1 110400 109444.76 > 37553 0.0825CA - 80.00% Paid Off - 36 37281 1100340208 1 210000 208330.9 > 37533 0.0825MA - 73.69% Paid Off - 18 37256 1100342220 1 239750 237730.44 > 37531 0.075CA - 80.01% Paid Off - 36 37270 1100342354 1 101700 100722.56 > 37550 0.0875FL - 90.00% Paid Off - 36 37246 1100342525 1 142400 141048.56 > 37554 0.06875AZ - 80.00% Paid Off - 36 37243 1100342942 1 161173 160122.39 > 37543 0.0775FL - 87.14% Paid Off - 36 37265 1100343525 1 279000 277420.33 > 37539 0.0899FL - 90.00% Paid Off - 36 37265 1100343642 1 238984 237667.72 > 37557 0.09125TX - 90.00% Paid Off - 36 37274 1100345161 1 261250 260086.76 > 37537 0.09625CA - 95.00% Paid Off - 36 37267 1100345169 1 201000 200312.63 > 37551 0.10875IL - 75.00% Paid Off - 18 37280 1100345239 1 284000 282282.03 > 37533 0.08125CA - 94.99% Paid Off - 36 37272 1100345292 1 206000 204657.13 > 37530 0.0775CA - 65.40% Paid Off - 36 37270 1100345376 1 201400 200379.67 > 37551 0.09NV - 95.00% Paid Off - 36 37267 1100345404 1 233130 232036.71 > 37557 0.09375CA - 95.00% Paid Off - 36 37274 1100345531 1 218700 217297.14 > 37536 0.08375CA - 90.00% Paid Off - 36 37243 1109003793 1 198000 196729.98 > 37533 0.08375CA - 90.00% Paid Off - 36 37245 1109004020 1 44900 44665.32 > 37559 0.0999FL - 89.98% Paid Off - 36 37244 1109004427 1 300000 298732.14 > 37557 0.09875NV - 89.52% Paid Off - 36 37258 1109004437 1 200000 198452.63 > 37551 0.06875CA - 54.65% Paid Off - 36 37279 1109004444 1 276250 274777.12 > 37533 0.0875UT - 85.00% Paid Off - 36 37256 1109004500 1 72000 71692.48 > 37553 0.1075CO - 89.95% Paid Off - 36 37266 2500012739 1 230000 228709.88 > 37554 0.085CA - 87.79% Paid Off - 36 37251 2500013465 1 121500 118356.87 > 37539 0.08375FL - 90.00% Paid Off - 18 37256 2500013554 1 288000 285858.43 > 37545 0.0725CA - 80.00% Paid Off - 36 37259 1100341106 2 480000 475697.74 > 37560 0.06875CA - 67.61% Paid Off - 36 37242 1100342542 2 500000 496088.41 > 37533 0.07375CA - 41.67% Paid Off - 36 37244 1100340975 1 213500 212298.03 > 37561 0.095GA - 94.89% Repur/Subs - 37249 Page > 22 of 28 COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for November 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 18653.1 18653.1 Net Liquidation Proceeds > 0 83514.07 83514.07 Cumulative Number of Loans Liquidated > 0 2 2 Collateral Realized Loss/(Gain) Amount > 0 18654.1 18654.1 Net Liquidation Proceeds > 0 167155.14 167155.14 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for November 25, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > GROUP 2 GROUP 1 TOTAL MDR > 0 0.000812697 0.000563897 3 Months Avg MDR > 0 0.000487739 0.000338038 12 Months Avg MDR Avg MDR Since Cut-off > 0 0.000146347 0.000101423 CDR > 0 0.009708885 0.006745813 3 Months Avg CDR > 0 0.005837197 0.004048925 12 Months Avg CDR Avg CDR Since Cut-off > 0 0.001754748 0.001216403 SDA > 0 0.046148142 0.032219324 3 Months Avg SDA Approximation > 0 0.030650397 0.02137645 12 Months Avg SDA Approximation Avg SDA Since Cut-off Approximation > 0 0.014457553 0.010097117 Loss Severity Approximation for Current Period > 0.182574304 0.182574304 3 Months Avg Loss Severity Approximation > 0.09129313 0.09129313 12 Months Avg Loss Severity Approximation Avg Loss Severity Approximation Since Cut-off > 0.09129313 0.09129313 Group 1 Group 2 CDR by Groups Tota >l CDR SDA by Groups Tota >l SDA Page 24 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Report for November 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 mo >nths 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 prior period >s. Dates correspond to distribution dates. Page 25 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Realized Loss Detail Report for November 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 = 102,600.00 > Loan Group 2 = Group 2 Group Total Prior Principal Balance = 102,167.17 Total Realized Loss Amount = 18,653.10 Total Net Liquidation Proceeds = 83,514.07 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 1109004006 1 102600 102167.17 > 18653.1 0.10875GA - 95.00% 360 37281 Page > 26 of 28 COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Triggers, Adj. Rate Cert. and Miscellaneous Report for November >25, 2002 Distribution Triggers, Adj. Rate Cert. and Miscellaneous Report TRIGGER EVENTS > GROUP 2 GROUP 1 TOTAL Optional Termination Date Reached > No No No After the 36th Distribution > No No No Stepdown date occurred > No No No Trigger Event in Effect > No No No ADJUSTABLE RATE CERTIFICATE INFORMATION > GROUP 2 GROUP 1 TOTAL SPACE INTENTIONALLY LEFT BLANK ADDITIONAL INFORMATION > GROUP 2 GROUP 1 TOTAL NET WAC SHORTFALL RESERVE FUND Original Net WAC Shortfall Reserve Fund Balance > 210,000.00 Net WAC Shortfall Reserve Fund Beginning Balance > 147,065.08 Net WAC Shortfall > 8,409.67 Net WAC Shortfall Reserve Fund Ending Balance > 138,655.41 Page 27 of 28 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S1 Mortgage Pass-Through Certificates Additional Certificate Report for November 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 > COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----