UNITED STATES
                       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):  December 26, 2000


                            IMPAC FUNDING CORPORATION
            Mortgage Pass-Through Certificates, Series 2000-1 Trust
              (Exact name of registrant as specified in its charter)



New York (governing law of           333-08439         52-2232858
Pooling and Servicing Agreement)     (Commission       52-2232860
(State or other                      File Number)       IRS EIN
jurisdiction
of Incorporation)



       c/o Wells Fargo Bank Minnesota, N.A.
       11000 Broken Land Parkway
       Columbia, MD                                        21044
       (Address of principal executive offices)            (Zip Code)


       Registrant's telephone number, including area code:  (410) 884-2000


       Former name or former address, if changed since last report)



ITEM 5.  Other Events

 On December 26, 2000 a distribution was made to holders of IMPAC FUNDING
 CORPORATION, Mortgage Pass-Through Certificates, Series 2000-1 Trust.


ITEM 7.  Financial Statements and Exhibits

      (c)  Exhibits furnished in accordance with Item 601(a) of
Regulation S-K


           Exhibit Number               Description

           EX-99.1                      Monthly report distributed to
                                        holders of Mortgage Pass-Through
                                        Certificates, Series 2000-1 Trust,
                                        relating to the December 26, 2000
                                        distribution.



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.



                             IMPAC FUNDING CORPORATION
            Mortgage Pass-Through Certificates, Series 2000-1 Trust

              By:   Wells Fargo Bank MN, N.A., as Trustee
              By:   /s/  Sherri J. Sharps, Vice President
              By:   Sherri J. Sharps, Vice President
              Date: 12/29/2000


                                INDEX TO EXHIBITS

Exhibit Number               Description

EX-99.1                      Monthly report distributed to holders of
                             Mortgage Pass-Through Certificates, Series 2000-1
                             Trust, relating to the December 26, 2000
                             distribution.