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): August 26, 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).

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

August 26, 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,

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 January 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 August 26, 2002.

	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	August 26, 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 Report				22
			10.	Realized Loss Report				23
			11.	Realized Loss Detail Report				26
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
			13.	Additional Certificate Report				28
				Total Number of Pages				28
			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: January 1, 2002
	Certificate Insurer(s):							Closing Date: January 31, 2002
								First Payment Date: February 25, 2002
	Servicer(s):		Impac Funding Corporation Master Servicer
			GMAC Sub-Servicer
								Distribution Date: August 26, 2002
	Underwriter(s):		Bear, Stearns & Co. Inc Underwriter					Record Date: July 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 August 26, 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)
LT1A		173,248,268.86			162,549,352.71	1,061,728.95	995,519.64	2,057,248.59	-	-	161,553,833.06
LT1B		1,194.11			1,142.75	7.74	4.84	12.58	-	-	1,137.91
LT1C		538.39			527.94	3.17	1.00	4.17	-	-	526.94
LT1D		20,000,000.00			20,000,000.00	130,634.65	-	130,634.65	-	-	20,000,000.00
LT1E		5,000,000.00			5,000,000.00	32,658.66	-	32,658.66	-	-	5,000,000.00
LT1F		1,750,000.00			1,750,000.00	11,430.53	-	11,430.53	-	-	1,750,000.00
LT1P		100.00			100.00	0.65	-	0.65	-	-	100.00
R-1		-			-	-	-	-	-	-	-
Total		200,000,101.36			189,301,123.39	1,236,464.35	995,525.48	2,231,989.83	-	-	188,305,597.91
	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)
LT1A				F-30/360		173,248,268.86	938.245177	6.128367	5.746203	11.874569	932.498975
LT1B				F-30/360		1,194.11	956.985119	6.481815	4.051721	10.533535	952.933398
LT1C				F-30/360		538.39	980.583406	5.887925	1.853861	7.741786	978.729545
LT1D				F-30/360		20,000,000.00	1,000.000000	6.531733	-	6.531733	1,000.000000
LT1E				F-30/360		5,000,000.00	1,000.000000	6.531732	-	6.531732	1,000.000000
LT1F				F-30/360		1,750,000.00	1,000.000000	6.531731	-	6.531731	1,000.000000
LT1P				F-30/360		100.00	1,000.000000	6.500000	-	6.500000	1,000.000000
R-1				F-30/360		-	-	-	-	-	-
							Page 2 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for August 26, 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)
LT1A	173,248,268.86		7,728,201.11		10,668,789.90	1,025,645.91	11,694,435.81	19,422,636.92	-	-	161,553,833.06
LT1B	1,194.11		55.60		51.28	4.92	56.20	111.80	-	-	1,137.91
LT1C	538.39		22.55		10.46	0.99	11.45	34.00	-	-	526.94
LT1D	20,000,000.00		916,386.10		-	-	-	916,386.10	-	-	20,000,000.00
LT1E	5,000,000.00		229,096.52		-	-	-	229,096.52	-	-	5,000,000.00
LT1F	1,750,000.00		80,183.79		-	-	-	80,183.79	-	-	1,750,000.00
LT1P	100.00		28,380.16		-	-	-	28,380.16	-	-	100.00
R-1	-		-		-	-	-	-	-	-	-
Total	200,000,101.36		8,982,325.83		10,668,851.64	1,025,651.82	11,694,503.46	20,676,829.29	-	-	188,305,597.91
	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)
LT1A	7.83808%	162,549,352.71			1,061,728.95	-	-	-	1,061,728.95	1,061,728.95	-
LT1B	8.12494%	1,142.75			7.74	-	-	-	7.74	7.74	-
LT1C	7.19569%	527.94			3.17	-	-	-	3.17	3.17	-
LT1D	7.83808%	20,000,000.00			130,634.65	-	-	-	130,634.65	130,634.65	-
LT1E	7.83808%	5,000,000.00			32,658.66	-	-	-	32,658.66	32,658.66	-
LT1F	7.83808%	1,750,000.00			11,430.53	-	-	-	11,430.53	11,430.53	-
LT1P	7.83808%	100.00			0.65	-	-	-	0.65	0.65	-
R-1		-			-	-	-	-	-	-	-
Total		189,301,123.39			1,236,464.35	-	-	-	1,236,464.35	1,236,464.35	-
							Page 3 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for August 26, 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)
LT2-1AA		135,091,674.97			128,247,855.90	728,295.83	689,556.40	1,417,852.23	-	-	127,558,299.50
LT2-AI1		308,000.00			231,548.47	1,314.92	7,036.29	8,351.21	-	-	224,512.18
LT2-AI2		179,000.00			179,000.00	1,016.51	-	1,016.51	-	-	179,000.00
LT2-AI3		191,000.00			191,000.00	1,084.65	-	1,084.65	-	-	191,000.00
LT2-AI4		255,000.00			255,000.00	1,448.10	-	1,448.10	-	-	255,000.00
LT2-AI5		100,000.00			100,000.00	567.88	-	567.88	-	-	100,000.00
LT2-AI6		252,440.00			252,440.00	1,433.56	-	1,433.56	-	-	252,440.00
LT2-1M1		41,354.35			41,354.35	234.84	-	234.84	-	-	41,354.35
LT2-1M2		27,569.56			27,569.56	156.56	-	156.56	-	-	27,569.56
LT2-1B		24,123.37			24,123.37	136.99	-	136.99	-	-	24,123.37
LT2-1ZZ		1,378,486.49			1,315,268.16	7,469.16	7,036.29	14,505.45	-	-	1,308,231.87
LT2-2AA		60,908,326.36			57,267,147.10	325,209.52	286,058.57	611,268.09	-	-	56,981,088.53
LT2-AII		579,560.00			539,021.66	3,061.00	2,918.97	5,979.97	-	-	536,102.69
LT2-2M1		18,645.65			18,645.65	105.89	-	105.89	-	-	18,645.65
LT2-2M2		12,430.44			12,430.44	70.59	-	70.59	-	-	12,430.44
LT2-2B		10,876.63			10,876.63	61.77	-	61.77	-	-	10,876.63
LT2-2ZZ		621,513.54			587,742.09	3,337.68	2,918.97	6,256.65	-	-	584,823.12
LT2A-IO		-			-	161,458.33	-	161,458.33	-	-	-
LT2P		100.00			100.00	0.57	-	0.57	-	-	100.00
R-2		-			-	-	-	-	-	-	-
Total		200,000,101.36			189,301,123.38	1,236,464.35	995,525.49	2,231,989.84	-	-	188,305,597.89
	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)
LT2-1AA				F-30/360		135,091,674.97	949.339446	5.391123	5.104359	10.495482	944.235087
LT2-AI1				F-30/360		308,000.00	751.780747	4.269221	22.845097	27.114318	728.935649
LT2-AI2				F-30/360		179,000.00	1,000.000000	5.678827	-	5.678827	1,000.000000
LT2-AI3				F-30/360		191,000.00	1,000.000000	5.678796	-	5.678796	1,000.000000
LT2-AI4				F-30/360		255,000.00	1,000.000000	5.678824	-	5.678824	1,000.000000
LT2-AI5				F-30/360		100,000.00	1,000.000000	5.678800	-	5.678800	1,000.000000
LT2-AI6				F-30/360		252,440.00	1,000.000000	5.678815	-	5.678815	1,000.000000
LT2-1M1				F-30/360		41,354.35	1,000.000000	5.678726	-	5.678726	1,000.000000
LT2-1M2				F-30/360		27,569.56	1,000.000000	5.678726	-	5.678726	1,000.000000
LT2-1B				F-30/360		24,123.37	1,000.000000	5.678726	-	5.678726	1,000.000000
LT2-1ZZ				F-30/360		1,378,486.49	954.139316	5.418377	5.104359	10.522736	949.034957
LT2-2AA				F-30/360		60,908,326.36	940.218695	5.339328	4.696543	10.035871	935.522152
LT2-AII				F-30/360		579,560.00	930.053247	5.281593	5.036528	10.318121	925.016720
LT2-2M1				F-30/360		18,645.65	1,000.000000	5.679072	-	5.679072	1,000.000000
LT2-2M2				F-30/360		12,430.44	1,000.000000	5.678804	-	5.678804	1,000.000000
LT2-2B				F-30/360		10,876.63	1,000.000000	5.679148	-	5.679148	1,000.000000
LT2-2ZZ				F-30/360		621,513.54	945.662568	5.370245	4.696551	10.066796	940.966017
LT2A-IO				F-30/360		26,750,000.00	934.579439	6.035825	-	6.035825	934.579439
LT2P				F-30/360		100.00	1,000.000000	5.700000	-	5.700000	1,000.000000
R-2				F-30/360		-	-	-	-	-	-
							Page 4 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REMIC II
	Certificate Payment Report for August 26, 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)
LT2-1AA	135,091,674.97		5,249,809.06		6,880,980.30	652,395.18	7,533,375.48	12,783,184.54	-	-	127,558,299.50
LT2-AI1	308,000.00		10,927.64		76,216.84	7,270.98	83,487.82	94,415.46	-	-	224,512.18
LT2-AI2	179,000.00		7,104.19		-	-	-	7,104.19	-	-	179,000.00
LT2-AI3	191,000.00		7,580.45		-	-	-	7,580.45	-	-	191,000.00
LT2-AI4	255,000.00		10,120.51		-	-	-	10,120.51	-	-	255,000.00
LT2-AI5	100,000.00		3,968.82		-	-	-	3,968.82	-	-	100,000.00
LT2-AI6	252,440.00		10,018.90		-	-	-	10,018.90	-	-	252,440.00
LT2-1M1	41,354.35		1,641.27		-	-	-	1,641.27	-	-	41,354.35
LT2-1M2	27,569.56		1,094.18		-	-	-	1,094.18	-	-	27,569.56
LT2-1B	24,123.37		957.41		-	-	-	957.41	-	-	24,123.37
LT2-1ZZ	1,378,486.49		47,109.03		70,214.07	6,657.10	76,871.17	123,980.20	-	6,616.55	1,308,231.87
LT2-2AA	60,908,326.36		2,350,997.87		3,575,426.57	351,811.26	3,927,237.83	6,278,235.70	-	-	56,981,088.53
LT2-AII	579,560.00		22,253.65		39,529.92	3,927.39	43,457.31	65,710.96	-	-	536,102.69
LT2-2M1	18,645.65		740.02		-	-	-	740.02	-	-	18,645.65
LT2-2M2	12,430.44		493.35		-	-	-	493.35	-	-	12,430.44
LT2-2B	10,876.63		431.68		-	-	-	431.68	-	-	10,876.63
LT2-2ZZ	621,513.54		20,677.39		36,483.95	3,589.91	40,073.86	60,751.25	-	3,383.44	584,823.12
LT2A-IO	-		1,198,020.85		-	-	-	1,198,020.85	-	-	-
LT2P	100.00		28,379.56		-	-	-	28,379.56	-	-	100.00
R-2	-		-		-	-	-	-	-	-	-
Total	200,000,101.36		8,972,325.83		10,678,851.65	1,025,651.82	11,704,503.47	20,676,829.30	-	9,999.99	188,305,597.89
	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)
LT2-1AA	6.81458%	128,247,855.90			728,295.81	-	-	-	728,295.83	728,295.83	-
LT2-AI1	6.81458%	231,548.47			1,314.92	-	-	-	1,314.92	1,314.92	-
LT2-AI2	6.81458%	179,000.00			1,016.51	-	-	-	1,016.51	1,016.51	-
LT2-AI3	6.81458%	191,000.00			1,084.65	-	-	-	1,084.65	1,084.65	-
LT2-AI4	6.81458%	255,000.00			1,448.10	-	-	-	1,448.10	1,448.10	-
LT2-AI5	6.81458%	100,000.00			567.88	-	-	-	567.88	567.88	-
LT2-AI6	6.81458%	252,440.00			1,433.56	-	-	-	1,433.56	1,433.56	-
LT2-1M1	6.81458%	41,354.35			234.84	-	-	-	234.84	234.84	-
LT2-1M2	6.81458%	27,569.56			156.56	-	-	-	156.56	156.56	-
LT2-1B	6.81458%	24,123.37			136.99	-	-	-	136.99	136.99	-
LT2-1ZZ	6.81458%	1,315,268.16			7,469.16	-	-	-	7,469.16	7,469.16	-
LT2-2AA	6.81458%	57,267,147.10			325,209.52	-	-	-	325,209.52	325,209.52	-
LT2-AII	6.81458%	539,021.66			3,061.00	-	-	-	3,061.00	3,061.00	-
LT2-2M1	6.81458%	18,645.65			105.89	-	-	-	105.89	105.89	-
LT2-2M2	6.81458%	12,430.44			70.59	-	-	-	70.59	70.59	-
LT2-2B	6.81458%	10,876.63			61.77	-	-	-	61.77	61.77	-
LT2-2ZZ	6.81458%	587,742.09			3,337.68	-	-	-	3,337.68	3,337.68	-
LT2A-IO	7.75000%	25,000,000.00			161,458.33	-	-	-	161,458.33	161,458.33	-
LT2P	6.81458%	100.00			0.57	-	-	-	0.57	0.57	-
R-2		-			-	-	-	-	-	-	-
Total		214,301,123.38			1,236,464.33	-	-	-	1,236,464.35	1,236,464.35	-
							Page 5 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REMIC III
	Certificate Payment Report for August 26, 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-I-1	FLT	30,800,000.00			23,154,856.91	42,540.72	703,628.98	746,169.70	-	-	22,451,227.93
A-I-2	AFC, SEQ	17,900,000.00			17,900,000.00	68,467.50	-	68,467.50	-	-	17,900,000.00
A-I-3	AFC, SEQ	19,100,000.00			19,100,000.00	88,655.83	-	88,655.83	-	-	19,100,000.00
A-I-4	STEP,AFC	25,500,000.00			25,500,000.00	133,662.50	-	133,662.50	-	-	25,500,000.00
A-I-5	STEP,AFC	10,000,000.00			10,000,000.00	56,250.00	-	56,250.00	-	-	10,000,000.00
A-I-6	STEP,AFC	25,244,000.00			25,244,000.00	147,887.77	-	147,887.77	-	-	25,244,000.00
A-II	STEP,AFC	57,956,000.00			53,902,166.48	291,970.07	291,896.50	583,866.57	-	-	53,610,269.98
A-IO	IO,NTL,DRB	-			-	161,458.33	-	161,458.33	-	-	-
M-1	MEZ,STEP,AF	6,000,000.00			6,000,000.00	35,000.00	-	35,000.00	-	-	6,000,000.00
M-2	MEZ,STEP,AF	4,000,000.00			4,000,000.00	23,333.33	-	23,333.33	-	-	4,000,000.00
B	MEZ,STEP,AF	3,500,000.00			3,500,000.00	20,416.67	-	20,416.67	-	-	3,500,000.00
C	SUB	1.36			1,000,000.00	173,439.40	-	173,439.40	-	-	1,000,000.00
P	SUB	100.00			100.00	-	-	-	-	-	100.00
R-3	R	-			-	-	-	-	-	-	-
Total		200,000,101.36			189,301,123.39	1,243,082.12	995,525.48	2,238,607.60	-	-	188,305,597.91
	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-I-1	07/25/02	08/25/02		F-30/360	45254TKM5	30,800,000.00	751.781068	1.381192	22.845097	24.226289	728.935972
A-I-2				F-30/360	45254TKN3	17,900,000.00	1,000.000000	3.825000	-	3.825000	1,000.000000
A-I-3				F-30/360	45254TKP8	19,100,000.00	1,000.000000	4.641666	-	4.641666	1,000.000000
A-I-4				F-30/360	45254TKQ6	25,500,000.00	1,000.000000	5.241667	-	5.241667	1,000.000000
A-I-5				F-30/360	45254TKR4	10,000,000.00	1,000.000000	5.625000	-	5.625000	1,000.000000
A-I-6				F-30/360	45254TKX1	25,244,000.00	1,000.000000	5.858333	-	5.858333	1,000.000000
A-II				F-30/360	45254TKS2	57,956,000.00	930.053256	5.037788	5.036519	10.074308	925.016737
A-IO				F-30/360	45254TKT0	26,750,000.00	934.579439	6.035825	-	6.035825	934.579439
M-1				F-30/360	45254TKU7	6,000,000.00	1,000.000000	5.833333	-	5.833333	1,000.000000
M-2				F-30/360	45254TKV5	4,000,000.00	1,000.000000	5.833333	-	5.833333	1,000.000000
B				F-30/360	45254TKW3	3,500,000.00	1,000.000000	5.833334	-	5.833334	1,000.000000
C				F-30/360	45254TKZ6	200,000,101.36	951.505135	0.867197	-	0.867197	946.527510
P				F-30/360	45254TKY9	100.00	1,000.000000	-	-	-	1,000.000000
R-3				F-30/360	45254TLA0	-	-	-	-	-	-
							Page 6 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REMIC III
	Certificate Payment Report for August 26, 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-I-1	30,800,000.00		327,899.35		7,662,354.18	686,417.90	8,348,772.07	8,676,671.42	-	-	22,451,227.93
A-I-2	17,900,000.00		479,272.50		-	-	-	479,272.50	-	-	17,900,000.00
A-I-3	19,100,000.00		620,590.81		-	-	-	620,590.81	-	-	19,100,000.00
A-I-4	25,500,000.00		935,637.50		-	-	-	935,637.50	-	-	25,500,000.00
A-I-5	10,000,000.00		393,750.00		-	-	-	393,750.00	-	-	10,000,000.00
A-I-6	25,244,000.00		1,035,214.38		-	-	-	1,035,214.38	-	-	25,244,000.00
A-II	57,956,000.00		2,125,921.00		4,006,496.06	339,233.95	4,345,730.02	6,471,651.02	-	-	53,610,269.98
A-IO	-		1,198,020.85		-	-	-	1,198,020.85	-	-	-
M-1	6,000,000.00		245,000.00		-	-	-	245,000.00	-	-	6,000,000.00
M-2	4,000,000.00		163,333.35		-	-	-	163,333.35	-	-	4,000,000.00
B	3,500,000.00		142,916.68		-	-	-	142,916.68	-	-	3,500,000.00
C	1.36		335,178.39		-	-	-	335,178.39	-	999,998.64	1,000,000.00
P	100.00		28,375.58		-	-	-	28,375.58	-	-	100.00
R-3	-		-		-	-	-	-	-	-	-
Total	200,000,101.36		8,031,110.39		11,668,850.24	1,025,651.85	12,694,502.09	20,725,612.48	-	999,998.64	188,305,597.91
	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-I-1	2.06688%	23,154,856.91			42,540.72	-	-	-	42,540.72	42,540.72	-
A-I-2	4.59000%	17,900,000.00			68,467.50	-	-	-	68,467.50	68,467.50	-
A-I-3	5.57000%	19,100,000.00			88,655.83	-	-	-	88,655.83	88,655.83	-
A-I-4	6.29000%	25,500,000.00			133,662.50	-	-	-	133,662.50	133,662.50	-
A-I-5	6.75000%	10,000,000.00			56,250.00	-	-	-	56,250.00	56,250.00	-
A-I-6	6.81458%	25,244,000.00			143,356.00	-	-	4,531.77	143,356.00	147,887.77	-
A-II	6.50000%	53,902,166.48			291,970.07	-	-	-	291,970.07	291,970.07	-
A-IO	7.75000%	25,000,000.00			161,458.33	-	-	-	161,458.33	161,458.33	-
M-1	6.81458%	6,000,000.00			34,072.89	-	-	927.11	34,072.89	35,000.00	-
M-2	6.81458%	4,000,000.00			22,715.26	-	-	618.07	22,715.26	23,333.33	-
B	6.81458%	3,500,000.00			19,875.85	-	-	540.82	19,875.85	20,416.67	-
C	1.09945%	190,301,123.38			173,439.40	-	-	-	173,439.40	173,439.40	-
P		100.00			-	-	-	-	-	-	-
R-3		-			-	-	-	-	-	-	-
Total		403,602,246.77			1,236,464.35	-	-	6,617.77	1,236,464.35	1,243,082.12	-
							Page 7 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Collection Account Report for August 26, 2002 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					291,896.50	703,628.98	995,525.48
	Other Principal Deposits					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					291,896.50	703,628.98	995,525.48
	Interest Collections					355,816.21	907,059.40	1,262,875.61
	Interest Withdrawals					0.00	0.00	0.00
	Interest Fees					(4,762.00)	(15,031.50)	(19,793.50)
	TOTAL NET INTEREST					351,054.21	892,027.90	1,243,082.11
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS					642,950.71	1,595,656.88	2,238,607.59
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal					54,560.12	101,572.12	156,132.24
	Curtailments					237,336.38	74,984.80	312,321.18
	Prepayments In Full					0.00	527,072.06	527,072.06
	Repurchases/Substitutions					0.00	0.00	0.00
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Delinquent Principal					(43,019.72)	(80,346.46)	(123,366.18)
	Total Realized Loss Of Principal					0.00	0.00	0.00
	Pre-funding Principal Paid					0.00	0.00	0.00
	Principal Advanced					43,019.72	80,346.46	123,366.18
	TOTAL PRINCIPAL COLLECTED					291,896.50	703,628.98	995,525.48
				Page 8 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Collection Account Report for August 26, 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					366,120.96	925,547.42	1,291,668.38
	Repurchases/Substitutions					0.00	0.00	0.00
	Liquidation Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Prepayment Interest Shortfalls					0.00	(1,919.07)	(1,919.07)
	Delinquent Interest					(297,141.00)	(746,242.84)	(1,043,383.84)
	Interest Realized Losses					0.00	0.00	0.00
	Compensating Interest					0.00	1,919.07	1,919.07
	Civil Relief Act Shortfalls					0.00	0.00	0.00
	Prepayment Premiums					0.00	0.00	0.00
	Pre-funding Intererst Coverage					0.00	0.00	0.00
	Interest Advanced					286,192.31	721,780.99	1,007,973.30
	Net WAC Shortfall					643.94	5,973.83	6,617.77
	TOTAL INTEREST COLLECTED					355,816.21	907,059.40	1,262,875.61
				Page 9 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Collection Account Report for August 26, 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					1,588.48	7,867.79	9,456.27
	Trustee Fee Amount					486.97	1,090.54	1,577.51
	Extraordinary Trust Fund Expenses					0.00	0.00	0.00
	Current Servicing Fees					13,635.24	30,535.03	44,170.27
	Delinquent Servicing Fees					(10,948.69)	(24,461.86)	(35,410.55)
	TOTAL INTEREST OTHER FEES					4,762.00	15,031.50	19,793.50
				Page 10 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for August 26, 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							0.00
	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 August 26, 2002 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					120	695	815
	Prior					142	850	992
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					-	(4)	(4)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					142	846	988
	Principal Balance:
	Original					48,517,658.43	107,380,483.93	155,898,142.36
	Prior					58,436,718.27	130,864,405.12	189,301,123.39
	Prefunding					-	-	-
	Scheduled Principal					(54,560.12)	(101,572.12)	(156,132.24)
	Partial and Full Voluntary Prepayments					(237,336.38)	(602,056.86)	(839,393.24)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					58,144,821.77	130,160,776.14	188,305,597.91
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)					Total 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 August 26, 2002 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.615355%	8.431210%	8.177305%
	Weighted Average Coupon Prior					7.517098%	8.492738%	8.192684%
	Weighted Average Coupon Current					7.518306%	8.487082%	8.188024%
	Weighted Average Months to Maturity Original					344	340	341
	Weighted Average Months to Maturity Prior					340	335	337
	Weighted Average Months to Maturity Current					338	333	335
	Weighted Avg Remaining Amortization Term Original					345	348	347
	Weighted Avg Remaining Amortization Term Prior					342	343	343
	Weighted Avg Remaining Amortization Term Current					340	341	341
	Weighted Average Seasoning Original					1.84	1.99	1.94
	Weighted Average Seasoning Prior					6.37	6.51	6.47
	Weighted Average Seasoning Current					7.37	7.52	7.47
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total 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 August 26, 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					2,686.54	6,073.17	8,759.71
	Delinquent Servicing Fees					10,948.69	24,461.86	35,410.55
	TOTAL SERVICING FEES					13,635.23	30,535.03	44,170.26
	Total Servicing Fees					13,635.23	30,535.03	44,170.26
	Compensating Interest					0.00	1,919.07	1,919.07
	Delinquent Servicing Fees					(10,948.69)	(24,461.86)	(35,410.55)
	COLLECTED SERVICING FEES					2,686.54	7,992.24	10,678.78
	Current PPIS					0.00	(1,919.07)	(1,919.07)
	Current Net PPIS					0.00	0.00	0.00
	Total Advanced Principal For Current Payment Date					43,019.72	80,346.46	123,366.18
	Total Advanced Interest For Current Payment Date					286,192.31	721,780.99	1,007,973.30
	TOTAL ADVANCES FOR CURRENT PERIOD					329,212.03	802,127.45	1,131,339.48
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Weighted Average Net Mortgage Rate					7.1957%	8.1249%	7.8381%
				Page 14 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Delinquency Report for August 26, 2002 Distribution
	Delinquency Report - Total
				CURRENT	1 PAYMENT	2 PAYMTS	3+ PAYMTS	TOTAL
DELINQUENT		Balance			2,735,858.97	1,415,266.76	2,598,093.75	6,749,219.48
		% Balance			1.45%	0.75%	1.38%	3.58%
		# Loans			14	8	14	36
		% # Loans			1.42%	0.81%	1.42%	3.64%
FORECLOSURE		Balance		-	-	-	75,684.44	75,684.44
		% Balance		0.00%	0.00%	0.00%	0.04%	0.04%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.10%	0.10%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	2,735,858.97	1,415,266.76	2,673,778.19	6,824,903.92
		% Balance		0.00%	1.45%	0.75%	1.42%	3.62%
		# Loans		-	14	8	15	37
		% # Loans		0.00%	1.42%	0.81%	1.52%	3.74%
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 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Delinquency Report for August 26, 2002 Distribution
	Delinquency Report - Group 1 Group
				CURRENT	1 PAYMENT	2 PAYMTS	3+ PAYMTS	TOTAL
DELINQUENT		Balance			1,972,076.75	1,415,266.76	1,961,844.85	5,349,188.36
		% Balance			1.52%	1.09%	1.51%	4.11%
		# Loans			12	8	12	32
		% # Loans			1.42%	0.95%	1.42%	3.78%
FORECLOSURE		Balance		-	-	-	75,684.44	75,684.44
		% Balance		0.00%	0.00%	0.00%	0.06%	0.06%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.12%	0.12%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	1,972,076.75	1,415,266.76	2,037,529.29	5,424,872.80
		% Balance		0.00%	1.52%	1.09%	1.57%	4.17%
		# Loans		-	12	8	13	33
		% # Loans		0.00%	1.42%	0.95%	1.54%	3.90%
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 16 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Delinquency Report for August 26, 2002 Distribution
	Delinquency Report - Group 2 Group
				CURRENT	1 PAYMENT	2 PAYMTS	3+ PAYMTS	TOTAL
DELINQUENT		Balance			763,782.22	-	636,248.90	1,400,031.12
		% Balance			1.31%	0.00%	1.09%	2.41%
		# Loans			2	-	2	4
		% # Loans			1.41%	0.00%	1.41%	2.82%
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		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	763,782.22	-	636,248.90	1,400,031.12
		% Balance		0.00%	1.31%	0.00%	1.09%	2.41%
		# Loans		-	2	-	2	4
		% # Loans		0.00%	1.41%	0.00%	1.41%	2.82%
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 17 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	REO Report for August 26, 2002 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 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 18 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Prepayment Report for August 26, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					-	4	4
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					-	4	4
	Paid in Full Balance					-	527,072.06	527,072.06
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					237,336.38	74,984.80	312,321.18
	Total Prepayment Amount					237,336.38	602,056.86	839,393.24
	Cumulative
	Number of Paid in Full Loans					10	41	51
	Number of Repurchased Loans					-	4	4
	Total Number of Loans Prepaid in Full					10	45	55
	Paid in Full Balance					3,323,246.24	6,394,716.92	9,717,963.16
	Repurchased Loans Balance					-	617,628.32	617,628.32
	Curtailments Amount					324,625.41	8,035.30	332,660.71
	Total Prepayment Amount					3,647,871.65	7,020,380.54	10,668,252.19
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total 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 August 26, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					0.41%	0.46%	0.44%
	3 Months Avg SMM					0.72%	1.05%	0.95%
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.86%	0.77%	0.80%
	CPR					4.77%	5.39%	5.20%
	3 Months Avg CPR					8.29%	11.88%	10.79%
	12 Months Avg CPR
	Avg CPR Since Cut-off					9.89%	8.80%	9.14%
	PSA					323.80%	358.40%	347.89%
	3 Months Avg PSA Approximation					650.76%	912.03%	834.08%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1110.68%	959.31%	1005.28%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 20 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Prepayment Report for August 26, 2002 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
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 21 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for August 26, 2002 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 4						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 529,005.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 527,072.06
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
1100343022 1			135,755.00	135,276.35	Jul-18-02	9.500%	MA - 95.00%	Paid Off - 360	Jan-09-02
1100345594 1			108,000.00	107,648.55	Jul-11-02	9.125%	NJ - 80.00%	Paid Off - 360	Jan-15-02
1109004452 1			161,950.00	161,395.07	Jul-30-02	8.875%	CO - 88.02%	Paid Off - 360	Dec-31-01
2500013566 1			123,300.00	122,752.09	Jul-01-02	8.500%	FL - 90.00%	Paid Off - 360	Dec-31-01
					Page 22 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 26, 2002 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	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
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral 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 August 26, 2002 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR					0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR					0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	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
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 24 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 26, 2002 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
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 25 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for August 26, 2002 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
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 26 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 26, 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							167,834.58
	Net WAC Shortfall							6,617.77
	Net WAC Shortfall Reserve Fund Ending Balance							161,216.81
				Page 27 of 28				© COPYRIGHT 2002 Deutsche Bank
	IMPAC Secured Assets Corp. 2002-S1
	Mortgage Pass-Through Certificates
	Additional Certificate Report for August 26, 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