SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K /A

Current Report Pursuant To Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2002

IMPAC SECURED ASSETS CORP.

(as company (the "Company"), Impac Funding Corporation, as master

servicer (the "Master Servicer"), and Deutsche Bank National Trust

Company, formerly known as Bankers Trust Company of

California, N.A., as trustee (the "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

July 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.,

formerly known as 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 March 1, 2002.

Date: Jan 23, 2003 By: /s/ Katie Wannenmacher

Katie Wannenmacher

Vice President

EXHIBIT INDEX

DOCUMENT

Monthly Remittance Statement to the Certificateholders

dated as of July 25, 2002.

	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	July 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 Report				20
			10.	Realized Loss Report				21
			11.	Realized Loss Detail Report				24
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				25
				Total Number of Pages				25
			CONTACTS
				Administrator: James F Noriega
				Direct Phone Number: (714)247-6281
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: http://www-apps.gis.deutsche-bank.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Impac Secured Asset Corp.					Cut-Off Date: March 1, 2002
	Certificate Insurer:							Closing Date: March 28, 2002
	Servicer(s):		Impac Funding Corporation Master Servicer					First Payment Date: April 25, 2002
			Wendover Funding, Inc. Sub-Servicer
			GMAC Sub-Servicer
	Underwriter(s):		Bear, Stearns & Co. Inc Underwriter					Distribution Date: July 25, 2002
								Record Date: June 28, 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 July 25, 2002 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
LTA1		5,098,810.00			248,092.56	1,343.83	248,092.56	249,436.39	-	-	-
LTA2		12,500,000.00			12,500,000.00	67,708.33	-	67,708.33	-	-	12,500,000.00
LTA3		25,000,000.00			25,000,000.00	135,416.67	-	135,416.67	-	-	25,000,000.00
LTA4		48,440,478.00			48,440,478.00	343,120.05	1,236,845.33	1,579,965.38	-	-	47,203,632.67
LTA6		90,299,000.00			90,299,000.00	489,119.58	-	489,119.58	-	-	90,299,000.00
LTA7		48,440,480.00			48,440,480.00	181,651.80	1,236,845.38	1,418,497.18	-	-	47,203,634.62
LTMB		20,000,000.00			19,934,503.82	107,978.56	14,674.16	122,652.72	-	-	19,919,829.66
LTIO		-			-	350,670.37	-	350,670.37	-	-	-
LTPO		220,587.00			219,820.40	-	278.88	278.88	-	-	219,541.52
LTP		100.00			100.00	31,601.42	-	31,601.42	-	-	100.00
LTR2		50.00			-	-	-	-	-	-	-
Total		249,999,505.00			245,082,474.78	1,708,610.62	2,736,736.31	4,445,346.93	-	-	242,345,738.47
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
LTA1				F-30/360		5,098,810.00	48.656953	0.263558	48.656953	48.920512	-
LTA2				F-30/360		12,500,000.00	1,000.000000	5.416667	-	5.416667	1,000.000000
LTA3				F-30/360		25,000,000.00	1,000.000000	5.416667	-	5.416667	1,000.000000
LTA4				F-30/360		48,440,478.00	1,000.000000	7.083333	25.533302	32.616635	974.466698
LTA6				F-30/360		90,299,000.00	1,000.000000	5.416667	-	5.416667	1,000.000000
LTA7				F-30/360		48,440,480.00	1,000.000000	3.750000	25.533301	29.283301	974.466699
LTMB				F-30/360		20,000,000.00	996.725191	5.398928	0.733708	6.132636	995.991483
LTIO				F-30/360		242,265,076.86	979.808923	1.447466	-	1.447466	968.553412
LTPO				F-30/360		220,587.00	996.524727	-	1.264263	1.264263	995.260464
LTP				F-30/360		100.00	1,000.000000	316,014.217000	-	316,014.217000	1,000.000000
LTR2				F-30/360		50.00	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for July 25, 2002 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
LTA1	5,098,810.00		69,239.80		4,638,381.82	460,428.18	5,098,810.00	5,168,049.80	-	-	-
LTA2	12,500,000.00		270,833.33		-	-	-	270,833.33	-	-	12,500,000.00
LTA3	25,000,000.00		541,666.67		-	-	-	541,666.67	-	-	25,000,000.00
LTA4	48,440,478.00		1,372,480.21		1,155,393.40	81,451.93	1,236,845.33	2,609,325.54	-	-	47,203,632.67
LTA6	90,299,000.00		1,956,478.33		-	-	-	1,956,478.33	-	-	90,299,000.00
LTA7	48,440,480.00		726,607.20		1,155,393.44	81,451.94	1,236,845.38	1,963,452.58	-	-	47,203,634.62
LTMB	20,000,000.00		432,659.00		70,867.87	9,302.47	80,170.34	512,829.34	-	-	19,919,829.66
LTIO	-		1,422,392.26		-	-	-	1,422,392.26	-	-	-
LTPO	220,587.00		-		942.30	103.18	1,045.48	1,045.48	-	-	219,541.52
LTP	100.00		57,409.08		-	-	-	57,409.08	-	-	100.00
LTR2	50.00		0.27		44.04	5.96	50.00	50.27	-	-	-
Total	249,999,505.00		6,849,766.15		7,021,022.87	632,743.66	7,653,766.53	14,503,532.68	-	-	242,345,738.47
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
LTA1	6.50000%	248,092.56			-	-	-	-	-	1,343.83	-
LTA2	6.50000%	12,500,000.00			-	-	-	-	-	67,708.33	-
LTA3	6.50000%	25,000,000.00			-	-	-	-	-	135,416.67	-
LTA4	8.50000%	48,440,478.00			-	-	-	-	-	343,120.05	-
LTA6	6.50000%	90,299,000.00			-	-	-	-	-	489,119.58	-
LTA7	4.50000%	48,440,480.00			-	-	-	-	-	181,651.80	-
LTMB	6.50000%	19,934,503.82			-	-	-	-	-	107,978.56	-
LTIO	1.77274%	237,373,484.01			-	-	-	-	-	350,670.37	-
LTPO		219,820.40			-	-	-	-	-	-	-
LTP	6.50000%	100.00			-	-	-	-	-	31,601.42	-
LTR2	6.50000%	-			-	-	-	-	-	-	-
Total		482,455,958.79			-	-	-	-	-	1,708,610.62	-
							Page 3 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for July 25, 2002 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	SEQ,AS	5,098,810.00			248,092.56	1,343.83	248,092.56	249,436.39	-	-	-
A-2	SEQ,AS	12,500,000.00			12,500,000.00	67,708.33	-	67,708.33	-	-	12,500,000.00
A-3	NAS	25,000,000.00			25,000,000.00	135,416.67	-	135,416.67	-	-	25,000,000.00
A-4	FLT,AS	48,440,478.00			48,440,478.00	85,174.51	1,236,845.33	1,322,019.84	-	-	47,203,632.67
A-5	IO,INV,NTL	-			-	257,945.55	-	257,945.55	-	-	-
A-6	SEQ,AS	90,299,000.00			90,299,000.00	489,119.58	-	489,119.58	-	-	90,299,000.00
A-7	SEQ,AS	48,440,480.00			48,440,480.00	181,651.80	1,236,845.38	1,418,497.18	-	-	47,203,634.62
A-PO	PO,RSTP	220,587.00			219,820.40	-	278.88	278.88	-	-	219,541.52
A-IO	IO,CSTR,NTL	-			-	350,670.37	-	350,670.37	-	-	-
M-1	MEZ,NAS	6,250,000.00			6,209,468.81	33,634.62	4,587.75	38,222.37	-	-	6,204,881.06
M-2	MEZ,NAS	5,000,000.00			4,990,921.82	27,034.16	3,667.78	30,701.94	-	-	4,987,254.04
M-3	MEZ,NAS	3,500,000.00			3,493,645.27	18,923.91	2,567.45	21,491.36	-	-	3,491,077.82
B-1	SUB,NAS	1,500,000.00			1,497,276.55	8,110.25	1,100.34	9,210.59	-	-	1,496,176.21
B-2	SUB,NAS	1,125,000.00			1,122,957.41	6,082.69	825.25	6,907.94	-	-	1,122,132.16
B-3	SUB,NAS	2,625,000.00			2,620,233.96	14,192.93	1,925.59	16,118.52	-	-	2,618,308.37
P	SUB,NAS	100.00			100.00	31,601.42	-	31,601.42	-	-	100.00
R	R,CPT,AS	100.00			-	-	-	-	-	-	-
Total		249,999,555.00			245,082,474.78	1,708,610.62	2,736,736.31	4,445,346.93	-	-	242,345,738.47
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1				F-30/360	45254TLB8	5,098,810.00	48.656953	0.263558	48.656953	48.920511	-
A-2				F-30/360	45254TLC6	12,500,000.00	1,000.000000	5.416666	-	5.416666	1,000.000000
A-3				F-30/360	45254TLD4	25,000,000.00	1,000.000000	5.416667	-	5.416667	1,000.000000
A-4				A-30/360	45254TLE2	48,440,478.00	1,000.000000	1.758333	25.533302	27.291635	974.466698
A-5				A-30/360	45254TLF9	48,440,478.00	1,000.000000	5.325000	-	5.325000	974.466698
A-6				F-30/360	45254TLG7	90,299,000.00	1,000.000000	5.416667	-	5.416667	1,000.000000
A-7				F-30/360	45254TLT9	48,440,480.00	1,000.000000	3.750000	25.533301	29.283301	974.466699
A-PO				F-30/360	45254TLJ1	220,587.00	996.524727	-	1.264263	1.264263	995.260464
A-IO				A-30/360	45254TLH5	242,265,076.86	979.808923	1.447466	-	1.447466	968.553412
M-1				F-30/360	45254TLL6	6,250,000.00	993.515010	5.381539	0.734040	6.115579	992.780970
M-2				F-30/360	45254TLM4	5,000,000.00	998.184364	5.406832	0.733556	6.140388	997.450808
M-3				F-30/360	45254TLN2	3,500,000.00	998.184363	5.406831	0.733557	6.140389	997.450806
B-1				F-30/360	45254TLQ5	1,500,000.00	998.184367	5.406833	0.733560	6.140393	997.450807
B-2				F-30/360	45254TLR3	1,125,000.00	998.184364	5.406836	0.733556	6.140391	997.450809
B-3				F-30/360	45254TLS1	2,625,000.00	998.184366	5.406830	0.733558	6.140389	997.450808
P				F-30/360	45254TLP7	100.00	1,000.000000	316,014.200000	-	316,014.200000	1,000.000000
R				F-30/360	45254TLK8	100.00	-	-	-	-	-
							Page 4 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for July 25, 2002 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	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	5,098,810.00		69,239.79		4,638,381.82	460,428.18	5,098,810.00	5,168,049.79	-	-	-
A-2	12,500,000.00		270,833.32		-	-	-	270,833.32	-	-	12,500,000.00
A-3	25,000,000.00		541,666.68		-	-	-	541,666.68	-	-	25,000,000.00
A-4	48,440,478.00		343,523.73		1,155,393.40	81,451.93	1,236,845.33	1,580,369.06	-	-	47,203,632.67
A-5	-		1,028,956.49		-	-	-	1,028,956.49	-	-	-
A-6	90,299,000.00		1,956,478.32		-	-	-	1,956,478.32	-	-	90,299,000.00
A-7	48,440,480.00		726,607.20		1,155,393.44	81,451.94	1,236,845.38	1,963,452.58	-	-	47,203,634.62
A-PO	220,587.00		-		942.30	103.18	1,045.48	1,045.48	-	-	219,541.52
A-IO	-		1,422,392.26		-	-	-	1,422,392.26	-	-	-
M-1	6,250,000.00		134,988.56		39,180.34	5,938.60	45,118.94	180,107.50	-	-	6,204,881.06
M-2	5,000,000.00		108,243.80		11,522.74	1,223.22	12,745.96	120,989.76	-	-	4,987,254.04
M-3	3,500,000.00		75,770.65		8,065.92	856.26	8,922.18	84,692.83	-	-	3,491,077.82
B-1	1,500,000.00		32,473.14		3,456.82	366.97	3,823.79	36,296.93	-	-	1,496,176.21
B-2	1,125,000.00		24,354.86		2,592.62	275.22	2,867.84	27,222.70	-	-	1,122,132.16
B-3	2,625,000.00		56,827.99		6,049.44	642.19	6,691.63	63,519.62	-	-	2,618,308.37
P	100.00		57,409.07		-	-	-	57,409.07	-	-	100.00
R	100.00		0.54		88.08	11.92	100.00	100.54	-	-	-
Total	249,999,555.00		6,849,766.40		7,021,066.91	632,749.62	7,653,816.53	14,503,582.93	-	-	242,345,738.47
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	6.50000%	248,092.56			-	-	-	-	-	1,343.83	-
A-2	6.50000%	12,500,000.00			-	-	-	-	-	67,708.33	-
A-3	6.50000%	25,000,000.00			-	-	-	-	-	135,416.67	-
A-4	2.11000%	48,440,478.00			-	-	-	-	-	85,174.51	-
A-5	6.39000%	48,440,478.00			-	-	-	-	-	257,945.55	-
A-6	6.50000%	90,299,000.00			-	-	-	-	-	489,119.58	-
A-7	4.50000%	48,440,480.00			-	-	-	-	-	181,651.80	-
A-PO		219,820.40			-	-	-	-	-	-	-
A-IO	1.77275%	237,373,484.01			-	-	-	-	-	350,670.37	-
M-1	6.50000%	6,209,468.81			-	-	-	-	-	33,634.62	-
M-2	6.50000%	4,990,921.82			-	-	-	-	-	27,034.16	-
M-3	6.50000%	3,493,645.27			-	-	-	-	-	18,923.91	-
B-1	6.50000%	1,497,276.55			-	-	-	-	-	8,110.25	-
B-2	6.50000%	1,122,957.41			-	-	-	-	-	6,082.69	-
B-3	6.50000%	2,620,233.96			-	-	-	-	-	14,192.93	-
P	6.50000%	100.00			-	-	-	-	-	31,601.42	-
R	6.50000%	-			-	-	-	-	-	-	-
Total		530,896,436.79			-	-	-	-	-	1,708,610.62	-
							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 July 25, 2002 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
R-1		50.00			-	-	-	-	-	-	-
R-2		50.00			-	-	-	-	-	-	-
Total		100.00			-	-	-	-	-	-	-
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
R-1				F-30/360		50.00	-	-	-	-	-
R-2				F-30/360		50.00	-	-	-	-	-
							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 July 25, 2002 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	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	50.00		0.27		44.04	5.96	50.00	50.27	-	-	-
R-2	50.00		0.27		44.04	5.96	50.00	50.27	-	-	-
Total	100.00		0.54		88.08	11.92	100.00	100.54	-	-	-
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
R-1	6.50000%	-			-	-	-	-	-	-	-
R-2	6.50000%	-			-	-	-	-	-	-	-
Total		-			-	-	-	-	-	-	-
							Page 7 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Collection Account Report for July 25, 2002 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal - Collections							2,736,736.33
	Principal - Withdrawals							0.00
	Principal - Other Accounts							0.00
	TOTAL NET PRINCIPAL							2,736,736.33
	Interest Collections							1,730,257.47
	Interest Withdrawals							0.00
	Interest Fees							(21,646.86)
	TOTAL NET INTEREST							1,708,610.61
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							4,445,346.94
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal							180,226.63
	Curtailments							28,986.53
	Prepayments In Full							2,527,523.17
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Principal							0.00
	Delinquent Principal							(153,533.21)
	Principal Advanced							153,533.21
	Total Realized Loss Of Principal							0.00
	TOTAL PRINCIPAL COLLECTED							2,736,736.33
				Page 8 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Collection Account Report for July 25, 2002 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS								TOTAL
INTEREST - COLLECTIONS								TOTAL
	Scheduled Interest							1,747,783.36
	Repurchases/Substitutions							0.00
	Liquidation Interest							0.00
	Insurance Interest							0.00
	Other Interest							0.00
	Delinquent Interest							(1,509,284.31)
	Interest Advanced							1,460,157.54
	Prepayment Interest Shortfalls							(5,096.66)
	Compensating Interest							5,096.66
	Civil Relief Act Shortfalls							0.00
	Prepayment Premiums							31,600.88
	TOTAL INTEREST COLLECTED							1,730,257.47
				Page 9 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Collection Account Report for July 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							11,953.73
	Trustee Fee Amount							1,633.89
	Current Servicing Fees							8,059.24
	TOTAL INTEREST OTHER FEES							21,646.86
				Page 10 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for July 25, 2002 Distribution
	Credit Enhancement Report
ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE								TOTAL
	Radian PMI Premium							11,953.73
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 July 25, 2002 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							1147
	Prior							1,451
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(16)
	Repurchases							-
	Liquidations							-
	Current							1,435
	Principal Balance:
	Original							193,381,668.57
	Prior							245,082,919.79
	Prefunding							-
	Scheduled Principal							(180,226.63)
	Partial and Full Voluntary Prepayments							(2,556,509.70)
	Repurchases							-
	Liquidations							-
	Current							242,346,183.46
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)					Total 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 July 25, 2002 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							8.558430%
	Weighted Average Coupon Prior							8.565091%
	Weighted Average Coupon Current							8.557675%
	Weighted Average Months to Maturity Original							340
	Weighted Average Months to Maturity Prior							339
	Weighted Average Months to Maturity Current							337
	Weighted Avg Remaining Amortization Term Original							350
	Weighted Avg Remaining Amortization Term Prior							347
	Weighted Avg Remaining Amortization Term Current							346
	Weighted Average Seasoning Original							2.97
	Weighted Average Seasoning Prior							4.42
	Weighted Average Seasoning Current							5.43
Note: Original information refers to deal issue.
WAC by Groups					Total WAC
WARAT by Groups					Total 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 July 25, 2002 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							0.000%
	Weighted Average Margin Prior							0.000%
	Weighted Average Margin Current							0.000%
	Weighted Average Max Rate Original							0.000%
	Weighted Average Max Rate Prior							0.000%
	Weighted Average Max Rate Current							0.000%
	Weighted Average Min Rate Original							0.000%
	Weighted Average Min Rate Prior							0.000%
	Weighted Average Min Rate Current							0.000%
	Weighted Average Cap Up Original							0.000%
	Weighted Average Cap Up Prior							0.000%
	Weighted Average Cap Up Current							0.000%
	Weighted Average Cap Down Original							0.000%
	Weighted Average Cap Down Prior							0.000%
	Weighted Average Cap Down Current							0.000%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							8,059.24
	Delinquent Servicing Fees							49,126.77
	TOTAL SERVICING FEES							57,186.01
	Total Servicing Fees							57,186.01
	Compensating Interest							(5,096.66)
	Delinquent Servicing Fees							(49,126.77)
	COLLECTED SERVICING FEES							2,962.58
ADDITIONAL COLLATERAL INFORMATION								TOTAL
	Weighted Average Net Mortgage Rate							8.2111%
				Page 14 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Delinquency Report for July 25, 2002 Distribution
	Delinquency Report - Total
				CURRENT	1 PAYMENT	2 PAYMTS	3+ PAYMTS	TOTAL
DELINQUENT		Balance			3,299,021.18	-	-	3,299,021.18
		% Balance			1.36%	0.00%	0.00%	1.36%
		# Loans			19	-	-	19
		% # Loans			1.32%	0.00%	0.00%	1.32%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		239,475.59	-	-	-	239,475.59
		% Balance		0.10%	0.00%	0.00%	0.00%	0.10%
		# Loans		1	-	-	-	1
		% # Loans		0.07%	0.00%	0.00%	0.00%	0.07%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		239,475.59	3,299,021.18	-	-	3,538,496.77
		% Balance		0.10%	1.36%	0.00%	0.00%	1.46%
		# Loans		1	19	-	-	20
		% # Loans		0.07%	1.32%	0.00%	0.00%	1.39%
Note: Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total 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 July 25, 2002 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
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 that become REO during current distribution.
Loan Number		Original	Stated		Current	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				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Prepayment Report for July 25, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							16
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							16
	Paid in Full Balance							2,527,523.17
	Repurchased Loans Balance							-
	Curtailments Amount							28,986.53
	Total Prepayment Amount							2,556,509.70
	Cumulative
	Number of Paid in Full Loans							41
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							41
	Paid in Full Balance							6,813,336.47
	Repurchased Loans Balance							-
	Curtailments Amount							160,531.32
	Total Prepayment Amount							6,973,867.79
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total 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 July 25, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							1.04%
	3 Months Avg SMM							0.85%
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.73%
	CPR							11.83%
	3 Months Avg CPR							9.72%
	12 Months Avg CPR
	Avg CPR Since Cut-off							8.38%
	PSA							1090.50%
	3 Months Avg PSA Approximation							1100.12%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							1032.72%
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Prepayment Report for July 25, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + 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 (AvgCPRn,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				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for July 25, 2002 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 16						Loan Group 1 = Pool Group
Total Original Principal Balance = 2,533,720.00
Total Prepayment Amount = 2,527,523.17
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
1100344664 1			73,320.00	73,159.40	Jun-28-02	10.125%	WA - 78.00%	Paid Off - 360	Jan-28-02
1100344770 1			125,400.00	125,203.37	Jun-25-02	10.625%	MI - 94.65%	Paid Off - 360	Feb-13-02
1100344793 1			229,900.00	229,479.22	Jun-26-02	8.500%	CA - 95.00%	Paid Off - 360	Mar-04-02
1100345382 1			85,000.00	84,763.46	Jun-10-02	9.875%	FL - 93.41%	Paid Off - 180	Apr-02-02
1100346579 1			106,400.00	104,841.97	Jun-21-02	8.000%	NV - 80.00%	Paid Off - 180	Jan-31-02
1100346701 1			167,200.00	166,964.07	Jun-28-02	9.750%	CA - 95.00%	Paid Off - 360	Mar-21-02
1100346746 1			95,200.00	94,989.65	Jun-18-02	9.000%	CA - 86.55%	Paid Off - 360	Feb-06-02
1100346989 1			108,900.00	108,683.17	Jun-28-02	9.500%	NC - 90.00%	Paid Off - 360	Feb-28-02
1100347054 1			235,000.00	234,650.47	Jun-18-02	9.500%	CA - 89.70%	Paid Off - 360	Mar-11-02
1100347175 1			77,400.00	77,179.37	Jun-24-02	7.750%	CA - 90.00%	Paid Off - 360	Feb-05-02
1100347482 1			108,500.00	108,260.25	Jun-26-02	9.000%	CA - 70.00%	Paid Off - 360	Mar-05-02
1100347498 1			142,500.00	142,244.66	Jun-07-02	10.000%	IL - 95.00%	Paid Off - 360	Mar-20-02
1100347845 1			200,000.00	199,584.37	Jun-27-02	7.875%	FL - 60.61%	Paid Off - 360	Mar-28-02
2500014122 1			122,000.00	121,782.38	Jun-18-02	8.625%	CA - 51.92%	Paid Off - 360	Feb-26-02
2500014302 1			565,000.00	563,855.10	Jun-26-02	8.000%	IL - 70.63%	Paid Off - 360	Mar-01-02
2500015066 1			92,000.00	91,882.26	Jun-26-02	8.250%	CO - 52.88%	Paid Off - 360	Mar-13-02
					Page 20 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Realized Loss Report for July 25, 2002 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES								TOTAL
	Current
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Cumulative
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Note: Collateral realized losses may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
							3 Months Moving Average
Collateral Loss Severity Approximation by Groups					Collateral 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 July 25, 2002 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR							0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%
	CDR							0.00%
	3 Months Avg CDR							0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%
	SDA							0.00%
	3 Months Avg SDA Approximation							0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							0.00%
	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					Total CDR
SDA by Groups					Total SDA
				Page 22 of 25				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Realized Loss Report for July 25, 2002 Distribution
	Realized Loss Report - Collateral
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated 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 (AvgCDRn,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 Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
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 July 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	Realized	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 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 25, 2002 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
	Optional Termination Date Reached?							No
	Credit Support Depletion Date Reached?							No
ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION								TOTAL
	Senior Principal Distribution Amount							2,721,783.28
	Subordinate Principal Distribution Amount							14,649.69
	Senior Accelerated Distribution Percentage							100.0000%
	Senior Percentage							91.8587%
	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