-----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, MD0XtQyIv4AwHrgAYB75LE2BjhfiLGYHzVH9NeTrcVoKvpJHX3j2tz/VLmIx9FN8 /QjLCZFWqkBziwn4QYHFRQ== 0001020242-02-000472.txt : 20021213 0001020242-02-000472.hdr.sgml : 20021213 20021213095913 ACCESSION NUMBER: 0001020242-02-000472 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: 02856318 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 im02s211.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 33-071-5871 (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 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. 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: 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-S2 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 > 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: November 25, > 2002 Underwriter(s): Bear, Stearns & Co. Inc Under >writer Record Date: October 31 >, 2002 > Page 1 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) 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 >42022266.89 297657.7238 2774133.34 3071791.064 0 > 0 39248133.55 LTA6 90299000 > 90299000 489119.5833 0 489119.5833 0 > 0 90299000 LTA7 48440480 >42022268.63 157583.5074 2774133.46 2931716.967 0 > 0 39248135.17 LTMB 20000000 > 19864651.3 107600.1945 27909.7 135509.8945 0 > 0 19836741.6 LTIO 0 > 0 329932.5293 0 329932.5293 0 > 0 0 LTPO 220587 > 218709.91 0 280.31 280.31 0 > 0 218429.6 LTP 100 > 100 74647.3717 0 74647.3717 0 > 0 100 LTR2 50 > 0 0 0 0 0 > 0 0 Total 249999505 >231926996.7 1659665.91 5576456.81 7236122.72 0 > 0 226350539.9 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) 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 867.5031425 6.144813926 57.26890928 63. >4137232 810.2342332 LTA6 F-30/360 > 90299000 1000 5.416666666 0 5.41 >6666666 1000 LTA7 F-30/360 > 48440480 867.5031426 3.253136786 57.26890939 60.5 >2204618 810.2342332 LTMB F-30/360 > 20000000 993.232565 5.380009725 1.395485 6.77 >5494725 991.83708 LTIO F-30/360 > 242265076.9 925.669673 1.361865827 0 1.36 >1865827 902.6927325 LTPO F-30/360 > 220587 991.4904777 0 1.270745783 1.27 >0745783 990.2197319 LTP F-30/360 > 100 1000 746473.717 0 746 >473.717 1000 LTR2 F-30/360 > 50 0 0 0 > 0 0 > Page 2 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) LTA1 5098810 69239.797 >4638381.818 460428.1822 5098810 5168049.797 0 > 0 0 LTA2 12500000 541666.6664 > 0 0 0 541666.6664 0 > 0 12500000 LTA3 25000000 1083333.334 > 0 0 0 1083333.334 0 > 0 25000000 LTA4 48440478 2630135.959 > 8757262.47 435081.9803 9192344.45 11822480.41 0 > 0 39248133.55 LTA6 90299000 3912956.666 > 0 0 0 3912956.666 0 > 0 90299000 LTA7 48440480 1392424.977 >8757262.832 435081.9984 9192344.83 10584769.81 0 > 0 39248135.17 LTMB 20000000 863716.4318 > 149909.427 13348.97303 163258.4 1026974.832 0 > 0 19836741.6 LTIO 0 2773442.243 > 0 0 0 2773442.243 0 > 0 0 LTPO 220587 0 >2000.400422 156.9995775 2157.4 2157.4 0 > 0 218429.6 LTP 100 237349.5836 > 0 0 0 237349.5836 0 > 0 100 LTR2 50 0.2708 >44.04173125 5.958268754 50 50.2708 0 > 0 0 Total 249999505 13504265.93 >22304860.99 1344104.092 23648965.08 37153231.01 0 > 0 226350539.9 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) 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 1354 >16.6667 0 LTA4 0.085 42022266.89 > 0 0 0 0 0 2976 >57.7238 0 LTA6 0.065 90299000 > 0 0 0 0 0 4891 >19.5833 0 LTA7 0.045 42022268.63 > 0 0 0 0 0 1575 >83.5074 0 LTMB 0.065 19864651.3 > 0 0 0 0 0 1076 >00.1945 0 LTIO 0.017654537 224257434.5 > 0 0 0 0 0 3299 >32.5293 0 LTPO 218709.91 > 0 0 0 0 0 > 0 0 LTP 0.065 100 > 0 0 0 0 0 746 >47.3717 0 LTR2 0.065 0 > 0 0 0 0 0 > 0 0 Total 456184431.2 > 0 0 0 0 0 165 >9665.91 0 > Page 3 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) 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 >42022266.89 73538.97 2774133.34 2847672.31 0 > 0 39248133.55 A-5 IO,INV,NTL 0 > 0 224118.76 0 224118.76 0 > 0 0 A-6 SEQ,AS 90299000 > 90299000 489119.58 0 489119.58 0 > 0 90299000 A-7 SEQ,AS 48440480 >42022268.63 157583.51 2774133.46 2931716.97 0 > 0 39248135.17 A-PO PO,RSTP 220587 > 218709.91 0 280.31 280.31 0 > 0 218429.6 A-IO IO,CSTR,NTL 0 > 0 329932.53 0 329932.53 0 > 0 0 M-1 MEZ,NAS 6250000 > 6187653.87 33516.46 8707 42223.46 0 > 0 6178946.87 M-2 MEZ,NAS 5000000 > 4973453.62 26939.54 6982.8 33922.34 0 > 0 4966470.82 M-3 MEZ,NAS 3500000 > 3481417.52 18857.68 4887.96 23745.64 0 > 0 3476529.56 B-1 SUB,NAS 1500000 > 1492036.09 8081.86 2094.84 10176.7 0 > 0 1489941.25 B-2 SUB,NAS 1125000 > 1119027.06 6061.4 1571.13 7632.53 0 > 0 1117455.93 B-3 SUB,NAS 2625000 > 2611063.14 14143.26 3665.97 17809.23 0 > 0 2607397.17 P SUB,NAS 100 > 100 74647.37 0 74647.37 0 > 0 100 R R,CPT,AS 100 > 0 0 0 0 0 > 0 0 Total 249999555 >231926996.7 1659665.92 5576456.81 7236122.73 0 > 0 226350539.9 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) A-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 867.5031425 1.51813056 57.26890928 58.7 >8703984 810.2342332 A-5 A-30/360 4525 >4TLF9 48440478 867.5031425 4.626683494 0 4.62 >6683494 810.2342332 A-6 F-30/360 4525 >4TLG7 90299000 1000 5.41666663 0 5.4 >1666663 1000 A-7 F-30/360 4525 >4TLT9 48440480 867.5031426 3.253136839 57.26890939 60.5 >2204623 810.2342332 A-PO F-30/360 4525 >4TLJ1 220587 991.4904777 0 1.270745783 1.27 >0745783 990.2197319 A-IO A-30/360 4525 >4TLH5 242265076.9 925.669673 1.36186583 0 1.3 >6186583 902.6927325 M-1 F-30/360 4525 >4TLL6 6250000 990.0246192 5.3626336 1.39312 6. >7557536 988.6314992 M-2 F-30/360 4525 >4TLM4 5000000 994.690724 5.387908 1.39656 6 >.784468 993.294164 M-3 F-30/360 4525 >4TLN2 3500000 994.69072 5.387908571 1.39656 6.78 >4468571 993.29416 B-1 F-30/360 4525 >4TLQ5 1500000 994.6907267 5.387906667 1.39656 6.78 >4466667 993.2941667 B-2 F-30/360 4525 >4TLR3 1125000 994.69072 5.387911111 1.39656 6.78 >4471111 993.29416 B-3 F-30/360 4525 >4TLS1 2625000 994.69072 5.387908571 1.39656 6.78 >4468571 993.29416 P F-30/360 4525 >4TLP7 100 1000 746473.7 0 7 >46473.7 1000 R F-30/360 4525 >4TLK8 100 0 0 0 > 0 0 > Page 4 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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) A-1 5098810 69239.79 >4638381.818 460428.1822 5098810 5168049.79 0 > 0 0 A-2 12500000 541666.64 > 0 0 0 541666.64 0 > 0 12500000 A-3 25000000 1083333.36 > 0 0 0 1083333.36 0 > 0 25000000 A-4 48440478 653172.42 > 8757262.47 435081.9803 9192344.45 9845516.87 0 > 0 39248133.55 A-5 0 1976963.55 > 0 0 0 1976963.55 0 > 0 0 A-6 90299000 3912956.64 > 0 0 0 3912956.64 0 > 0 90299000 A-7 48440480 1392424.98 >8757262.832 435081.9984 9192344.83 10584769.81 0 > 0 39248135.17 A-PO 220587 0 >2000.400422 156.9995775 2157.4 2157.4 0 > 0 218429.6 A-IO 0 2773442.23 > 0 0 0 2773442.23 0 > 0 0 M-1 6250000 269259.37 >63851.50186 7201.628138 71053.13 340312.5 0 > 0 6178946.87 M-2 5000000 216166.2 >31293.78207 2235.397929 33529.18 249695.38 0 > 0 4966470.82 M-3 3500000 151316.33 >21905.66042 1564.779579 23470.44 174786.77 0 > 0 3476529.56 B-1 1500000 64849.87 >9388.130992 670.6190083 10058.75 74908.62 0 > 0 1489941.25 B-2 1125000 48637.41 >7041.105561 502.9644391 7544.07 56181.48 0 > 0 1117455.93 B-3 2625000 113487.25 >16429.24606 1173.58394 17602.83 131090.08 0 > 0 2607397.17 P 100 237349.57 > 0 0 0 237349.57 0 > 0 100 R 100 0.54 >88.08346249 11.91653751 100 100.54 0 > 0 0 Total 249999555 13504266.15 >22304905.03 1344110.05 23649015.08 37153281.23 0 > 0 226350539.9 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) A-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 0.021 42022266.89 > 0 0 0 0 0 7 >3538.97 0 A-5 0.064 42022266.89 > 0 0 0 0 0 22 >4118.76 0 A-6 0.065 90299000 > 0 0 0 0 0 48 >9119.58 0 A-7 0.045 42022268.63 > 0 0 0 0 0 15 >7583.51 0 A-PO 218709.91 > 0 0 0 0 0 > 0 0 A-IO 0.017654667 224257434.5 > 0 0 0 0 0 32 >9932.53 0 M-1 0.065 6187653.87 > 0 0 0 0 0 3 >3516.46 0 M-2 0.065 4973453.62 > 0 0 0 0 0 2 >6939.54 0 M-3 0.065 3481417.52 > 0 0 0 0 0 1 >8857.68 0 B-1 0.065 1492036.09 > 0 0 0 0 0 >8081.86 0 B-2 0.065 1119027.06 > 0 0 0 0 0 > 6061.4 0 B-3 0.065 2611063.14 > 0 0 0 0 0 1 >4143.26 0 P 0.065 100 > 0 0 0 0 0 7 >4647.37 0 R 0.065 0 > 0 0 0 0 0 > 0 0 Total 498206698.1 > 0 0 0 0 0 165 >9665.92 0 > Page 5 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates REMIC II Component Classes 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) 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates REMIC II Component Classes 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) 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for November 25, 2002 Distribution Collection Account Report SUMMARY > TOTAL Principal - Collections > 5,576,456.82 Principal - Withdrawals > 0.00 Principal - Other Accounts > 0.00 TOTAL NET PRINCIPAL > 5,576,456.82 Interest Collections > 1,681,455.59 Interest Withdrawals > 0.00 Interest Fees > (21,789.69) TOTAL NET INTEREST > 1,659,665.90 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 7,236,122.72 PRINCIPAL - COLLECTIONS > TOTAL Scheduled Principal > 176,321.43 Curtailments > 24,490.85 Prepayments In Full > 5,226,363.34 Repurchases/Substitutions > 149,281.20 Liquidations > 0.00 Insurance Principal > 0.00 Other Principal > 0.00 Delinquent Principal > (144,599.90) Principal Advanced > 144,599.90 Total Realized Loss Of Principal > 0.00 TOTAL PRINCIPAL COLLECTED > 5,576,456.82 Page 8 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for November 25, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > TOTAL INTEREST - COLLECTIONS > TOTAL Scheduled Interest > 1,650,534.05 Repurchases/Substitutions > 995.21 Liquidation Interest > 0.00 Insurance Interest > 0.00 Other Interest > 0.00 Delinquent Interest > (1,372,783.13) Interest Advanced > 1,328,062.63 Prepayment Interest Shortfalls > (17,957.57) Compensating Interest > 17,957.57 Civil Relief Act Shortfalls > 0.00 Prepayment Premiums > 74,646.83 TOTAL INTEREST COLLECTED > 1,681,455.59 Page 9 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collection Account Report for November 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 > 10,847.61 Trustee Fee Amount > 1,546.18 Current Servicing Fees > 9,395.90 TOTAL INTEREST OTHER FEES > 21,789.69 Page 10 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Credit Enhancement Report for November 25, 2002 Distribution Credit Enhancement Report ACCOUNTS > TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > TOTAL Radian PMI Premium > 10,847.61 STRUCTURAL FEATURES > TOTAL SPACE INTENTIONALLY LEFT BLANK Page 11 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for November 25, 2002 Distribution Collateral Report COLLATERAL > TOTAL Loan Count: Original > 1147 Prior > 1378 Prefunding > 0 Scheduled Paid Offs > 0 Full Voluntary Prepayments > -28 Repurchases > -1 Liquidations > 0 Current > 1349 Principal Balance: Original > 193381668.6 Prior > 231927441.7 Prefunding > 0 Scheduled Principal > -176321.43 Partial and Full Voluntary Prepayments > -5250854.19 Repurchases > -149281.2 Liquidations > 0 Current > 226350984.9 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for November 25, 2002 Distribution Collateral Report CHARACTERISTICS > TOTAL Weighted Average Coupon Original > 0.085584298 Weighted Average Coupon Prior > 0.085516856 Weighted Average Coupon Current > 0.085450652 Weighted Average Months to Maturity Original > 340 Weighted Average Months to Maturity Prior > 334 Weighted Average Months to Maturity Current > 332 Weighted Avg Remaining Amortization Term Original > 349.7924593 Weighted Avg Remaining Amortization Term Prior > 342.5360838 Weighted Avg Remaining Amortization Term Current > 341.2364303 Weighted Average Seasoning Original > 2.9738338 Weighted Average Seasoning Prior > 8.45448837 Weighted Average Seasoning Current > 9.47708149 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Collateral Report for November 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 > 9,395.90 Delinquent Servicing Fees > 44,720.51 TOTAL SERVICING FEES > 54,116.41 Total Servicing Fees > 54,116.41 Compensating Interest > (17,957.57) Delinquent Servicing Fees > (44,720.51) COLLECTED SERVICING FEES > (8,561.67) ADDITIONAL COLLATERAL INFORMATION > TOTAL Weighted Average Net Mortgage Rate > 8.2009% Page 14 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 > 3271185.04 849900.75 0 4121085.79 % Balance >0.014451826 0.003754791 0 0.018206617 # Loans > 18 6 0 24 % # Loans >0.013343217 0.004447739 0 0.017790956 FORECLOSURE Balance 453350.65 > 0 0 2790086.44 3243437.09 % Balance 0.002002866 > 0 0 0.012326372 0.014329238 # Loans 2 > 0 0 14 16 % # Loans 0.00148258 > 0 0 0.010378058 0.011860638 BANKRUPTCY Balance 0 > 314811.68 0 149986.96 464798.64 % Balance 0 >0.001390812 0 0.00066263 0.002053442 # Loans 0 > 3 0 1 4 % # Loans 0 > 0.00222387 0 0.00074129 0.002965159 REO Balance 0 > 0 0 433648.95 433648.95 % Balance 0 > 0 0 0.001915825 0.001915825 # Loans 0 > 0 0 2 2 % # Loans 0 > 0 0 0.00148258 0.00148258 TOTAL Balance 453350.65 > 3585996.72 849900.75 3373722.35 8262970.47 % Balance 0.002002866 >0.015842638 0.003754791 0.014904827 0.036505123 # Loans 2 > 21 6 17 46 % # Loans 0.00148258 >0.015567087 0.004447739 0.012601927 0.034099333 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 = 2 Loan Group 1 >= Pool Group; REO Book Value = Not Available Total Original Principal Balance = 435,100.00 Total Current Balance = 433,648.95 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 1100347427 1 180500 179756.89 37347 > 0.1GA - 92.80% 360 37350 1109005505 1 254600 253892.06 37377 > 0.10625GA - 95.00% 360 37348 Page 16 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > TOTAL Current Number of Paid in Full Loans > 28 Number of Repurchased Loans > 1 Total Number of Loans Prepaid in Full > 29 Paid in Full Balance > 5226363.34 Repurchased Loans Balance > 149281.2 Curtailments Amount > 24490.85 Total Prepayment Amount > 5400135.39 Cumulative Number of Paid in Full Loans > 125 Number of Repurchased Loans > 2 Total Number of Loans Prepaid in Full > 127 Paid in Full Balance > 21673567.66 Repurchased Loans Balance > 272289.41 Curtailments Amount > 311848.84 Total Prepayment Amount > 22257705.91 SPACE INTENTIONALLY LEFT BLANK Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 17 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for November 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > TOTAL SMM > 0.023301442 3 Months Avg SMM > 0.015914664 12 Months Avg SMM Avg SMM Since Cut-off > 0.01173575 CPR > 0.246424872 3 Months Avg CPR > 0.175115531 12 Months Avg CPR Avg CPR Since Cut-off > 0.13208534 PSA > 13.00109492 3 Months Avg PSA Approximation > 10.35057948 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 10.99801572 CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 18 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Prepayment Report for November 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,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 19 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 = 29 > Loan Group 1 = Pool Group Total Original Principal Balance = 5,400,978.00 Total Prepayment Amount = 5,375,644.54 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 1100341974 1 110000 109181.86 > 37547 0.08875FL - 61.12% Paid Off - 36 37315 1100342429 1 105300 104223.52 > 37545 0.07875FL - 90.00% Paid Off - 36 37309 1100342657 1 193500 192129.87 > 37531 0.08375GA - 90.00% Paid Off - 36 37301 1100343294 1 149800 149273.81 > 37537 0.1075PA - 89.97% Paid Off - 36 37291 1100344471 1 117593 116916.52 > 37537 0.08375FL - 70.00% Paid Off - 36 37284 1100344939 1 140000 139338.93 > 37531 0.0875GA - 62.23% Paid Off - 36 37319 1100346027 1 183100 182365.29 > 37533 0.08875CA - 89.98% Paid Off - 36 37334 1100346248 1 213600 212940.01 > 37538 0.09375CA - 85.44% Paid Off - 36 37340 1100346489 1 89300 89024.1 > 37532 0.09375FL - 95.00% Paid Off - 36 37355 1100347035 1 75600 75319.25 > 37546 0.0925TN - 90.00% Paid Off - 36 37328 1100347136 1 301500 300436.58 > 37546 0.095NY - 90.00% Paid Off - 36 37320 1100347258 1 130500 129985.35 > 37538 0.09625CA - 90.00% Paid Off - 36 37301 1100347348 1 71250 70954.17 > 37539 0.09375FL - 95.00% Paid Off - 36 37295 1100347431 1 105200 104636.23 > 37543 0.08125NJ - 80.00% Paid Off - 36 37299 1100347645 1 283500 281988.44 > 37547 0.0875NY - 75.00% Paid Off - 36 37306 1100347664 1 80300 79932.71 > 37536 0.09375MN - 89.98% Paid Off - 36 37295 1100347772 1 335550 334020.94 > 37536 0.0825NV - 89.25% Paid Off - 36 37328 1100348073 1 221250 220339.25 > 37554 0.0875CA - 64.69% Paid Off - 36 37342 1100349084 1 188300 187405.22 > 37546 0.0725CA - 70.00% Paid Off - 36 37354 1100349306 1 85500 85249.26 > 37543 0.09625FL - 83.82% Paid Off - 36 37354 1100349473 1 256410 255531.43 > 37551 0.08875VA - 88.72% Paid Off - 36 37361 1109004183 1 157425 156131.93 > 37530 0.07125NJ - 75.00% Paid Off - 36 37259 1109004892 1 532000 529386.15 > 37557 0.07875CA - 70.00% Paid Off - 36 37329 1109004917 1 550000 547957.32 > 37559 0.0925MO - 45.84% Paid Off - 36 37336 1109005162 1 80000 79667.83 > 37560 0.09375GA - 58.61% Paid Off - 36 37314 1109005407 1 75000 74608.09 > 37553 0.0825MI - 68.18% Paid Off - 36 37344 1109005626 1 199500 198735.28 > 37554 0.08875CA - 90.68% Paid Off - 36 37361 2500012483 1 220000 218684 > 37551 0.08375MA - 70.07% Paid Off - 36 37291 1100347844 1 150000 149281.2 > 37561 0.08SC - 88.24% Repur/Subs - 37344 Page > 20 of 25 COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for November 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for November 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 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 Mortgage Pass-Through Certificates Realized Loss Report for November 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 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 23 of 25 > COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-S2 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 = 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 COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-S2 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 > 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 > 5,548,266.80 Subordinate Principal Distribution Amount > 27,890.25 Senior Accelerated Distribution Percentage > 100.0000% Senior Percentage > 91.4267% Special Hazard Amount > 2,499,996.00 Fraud Loss Amount > 3,867,633.37 Bankruptcy Amount > 100,000.00 Page 25 of 25 > COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----