0001056404-01-500626.txt : 20011010 0001056404-01-500626.hdr.sgml : 20011010 ACCESSION NUMBER: 0001056404-01-500626 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010925 ITEM INFORMATION: Changes in control of registrant FILED AS OF DATE: 20011009 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPAC SECURED ASSETS CORP MORT PASS THR CERT SER 2001-2 CENTRAL INDEX KEY: 0001137305 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 522289287 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-53986-01 FILM NUMBER: 1754280 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA NA STREET 2: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 9494753600 MAIL ADDRESS: STREET 1: 1401 DOVE STREET STREET 2: SUITE 200 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 8-K 1 imp01002.txt SEPTEMBER 8K 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): September 25, 2001 IMPAC FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2001-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-53986-01 Pooling and Servicing Agreement) (Commission 52-2289287 (State or other File Number) 52-2289309 jurisdiction 52-2289310 of Incorporation) IRS EIN 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 September 25, 2001 a distribution was made to holders of IMPAC FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2001-2 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 2001-2 Trust, relating to the September 25, 2001 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 2001-2 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 10/4/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-2 Trust, relating to the September 25, 2001 distribution. EX-99.1
Impac Mortgage Pass-Through Certificates Mortgage Pass-Through Certificates Record Date: 8/31/01 Distribution Date: 9/25/01 IMP Series: 2001-2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 45254TFL3 SEN 6.02000% 54,174,104.87 271,773.43 3,737,785.80 A-2 45254TFM1 SEN 6.38000% 70,379,900.00 374,186.47 0.00 A-3 45254TFN9 SEN 6.74000% 32,517,000.00 182,637.15 0.00 A-4 45254TFP4 SEN 7.37000% 47,023,000.00 288,799.59 0.00 A-5 45254TFQ2 SEN 6.72000% 25,000,000.00 140,000.00 0.00 A-IO 45254TFU3 IO 8.00000% 0.00 166,666.67 0.00 M-1 45254TFR0 MEZ 8.00000% 2,500,700.00 16,671.33 0.00 M-2 45254TFS8 MEZ 8.00000% 1,875,540.00 12,503.60 0.00 B 45254TFT6 SUB 8.00000% 625,180.00 4,167.87 0.00 X IMP01002X SUB 0.00000% 693,395.36 30,893.23 0.00 R-1 IMP0102R1 SUB 6.00000% 0.00 0.00 0.00 R-2 IMP0102R2 SUB 0.00000% 0.00 0.00 0.00 R-3 IMP0102R3 SUB 0.00000% 0.00 0.00 0.00 Totals 234,788,820.23 1,488,299.34 3,737,785.80
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 50,436,319.07 4,009,559.23 0.00 A-2 0.00 70,379,900.00 374,186.47 0.00 A-3 0.00 32,517,000.00 182,637.15 0.00 A-4 0.00 47,023,000.00 288,799.59 0.00 A-5 0.00 25,000,000.00 140,000.00 0.00 A-IO 0.00 0.00 166,666.67 0.00 M-1 0.00 2,500,700.00 16,671.33 0.00 M-2 0.00 1,875,540.00 12,503.60 0.00 B 0.00 625,180.00 4,167.87 0.00 X 0.00 816,968.30 30,893.23 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 231,174,607.37 5,226,085.14 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 70,150,000.00 54,174,104.87 0.00 3,737,785.80 0.00 0.00 A-2 70,379,900.00 70,379,900.00 0.00 0.00 0.00 0.00 A-3 32,517,000.00 32,517,000.00 0.00 0.00 0.00 0.00 A-4 47,023,000.00 47,023,000.00 0.00 0.00 0.00 0.00 A-5 25,000,000.00 25,000,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 2,500,700.00 2,500,700.00 0.00 0.00 0.00 0.00 M-2 1,875,540.00 1,875,540.00 0.00 0.00 0.00 0.00 B 625,180.00 625,180.00 0.00 0.00 0.00 0.00 X 9.61 693,395.36 0.00 0.00 0.00 0.00 R-1 100.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 250,071,429.61 234,788,820.23 0.00 3,737,785.80 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 3,737,785.80 50,436,319.07 0.71897818 3,737,785.80 A-2 0.00 70,379,900.00 1.00000000 0.00 A-3 0.00 32,517,000.00 1.00000000 0.00 A-4 0.00 47,023,000.00 1.00000000 0.00 A-5 0.00 25,000,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 2,500,700.00 1.00000000 0.00 M-2 0.00 1,875,540.00 1.00000000 0.00 B 0.00 625,180.00 1.00000000 0.00 X 0.00 816,968.30 85,012.31009365 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 3,737,785.80 231,174,607.37 0.92443430 3,737,785.80
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 70,150,000.00 772.26093899 0.00000000 53.28276265 0.00000000 A-2 70,379,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 32,517,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 47,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 25,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 2,500,700.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 1,875,540.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 625,180.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 9.61 72153523.4131113 0.00000000 0.00000000 0.00000000 R-1 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination except R-1,R-2, and R-3 which are per $100.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 53.28276265 718.97817634 0.71897818 53.28276265 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 85,012,310.093652 85012.31009365 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 70,150,000.00 6.02000% 54,174,104.87 271,773.43 0.00 0.00 A-2 70,379,900.00 6.38000% 70,379,900.00 374,186.47 0.00 0.00 A-3 32,517,000.00 6.74000% 32,517,000.00 182,637.15 0.00 0.00 A-4 47,023,000.00 7.37000% 47,023,000.00 288,799.59 0.00 0.00 A-5 25,000,000.00 6.72000% 25,000,000.00 140,000.00 0.00 0.00 A-IO 0.00 8.00000% 25,000,000.00 166,666.67 0.00 0.00 M-1 2,500,700.00 8.00000% 2,500,700.00 16,671.33 0.00 0.00 M-2 1,875,540.00 8.00000% 1,875,540.00 12,503.60 0.00 0.00 B 625,180.00 8.00000% 625,180.00 4,167.87 0.00 0.00 X 9.61 0.00000% 0.00 0.00 0.00 0.00 R-1 100.00 6.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 250,071,429.61 1,457,406.11 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 271,773.43 0.00 50,436,319.07 A-2 0.00 0.00 374,186.47 0.00 70,379,900.00 A-3 0.00 0.00 182,637.15 0.00 32,517,000.00 A-4 0.00 0.00 288,799.59 0.00 47,023,000.00 A-5 0.00 0.00 140,000.00 0.00 25,000,000.00 A-IO 0.00 0.00 166,666.67 0.00 25,000,000.00 M-1 0.00 0.00 16,671.33 0.00 2,500,700.00 M-2 0.00 0.00 12,503.60 0.00 1,875,540.00 B 0.00 0.00 4,167.87 0.00 625,180.00 X 0.00 0.00 30,893.23 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,488,299.34 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 70,150,000.00 6.02000% 772.26093899 3.87417577 0.00000000 0.00000000 A-2 70,379,900.00 6.38000% 1000.00000000 5.31666669 0.00000000 0.00000000 A-3 32,517,000.00 6.74000% 1000.00000000 5.61666667 0.00000000 0.00000000 A-4 47,023,000.00 7.37000% 1000.00000000 6.14166663 0.00000000 0.00000000 A-5 25,000,000.00 6.72000% 1000.00000000 5.60000000 0.00000000 0.00000000 A-IO 0.00 8.00000% 1000.00000000 6.66666680 0.00000000 0.00000000 M-1 2,500,700.00 8.00000% 1000.00000000 6.66666533 0.00000000 0.00000000 M-2 1,875,540.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000 B 625,180.00 8.00000% 1000.00000000 6.66667200 0.00000000 0.00000000 X 9.61 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination except R-1,R-2, and R-3 which are per $100.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 3.87417577 0.00000000 718.97817634 A-2 0.00000000 0.00000000 5.31666669 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 5.61666667 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 6.14166663 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 5.60000000 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 6.66666680 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 6.66666533 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 6.66666667 0.00000000 1000.00000000 B 0.00000000 0.00000000 6.66667200 0.00000000 1000.00000000 X 0.00000000 0.00000000 3214696.14984391 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 5,423,792.36 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Prepayment Penalties 0.00 Total Deposits 5,423,792.36 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 197,707.22 Payment of Interest and Principal 5,226,085.14 Total Withdrawals (Pool Distribution Amount) 5,423,792.36 Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 156,829.71 GEMICO Fee 33,923.94 MBIA Fee 4,997.00 Special Servicing Fee 0.00 Trustee Fee: Wells Fargo Bank Minnesota, N.A. 1,956.57 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 197,707.22
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 2 0 0 2 158,795.03 0.00 0.00 158,795.03 30 Days 80 0 0 0 80 12,091,835.59 0.00 0.00 0.00 12,091,835.59 60 Days 20 0 6 0 26 3,321,738.66 0.00 762,496.14 0.00 4,084,234.80 90 Days 9 0 11 0 20 1,454,811.14 0.00 1,425,412.37 0.00 2,880,223.51 120 Days 0 1 17 1 19 0.00 139,652.67 3,018,951.55 85,274.64 3,243,878.86 150 Days 0 0 0 1 1 0.00 0.00 0.00 497,083.73 497,083.73 180+ Days 0 0 0 2 2 0.00 0.00 0.00 472,563.10 472,563.10 Totals 109 3 34 4 150 16,868,385.39 298,447.70 5,206,860.06 1,054,921.47 23,428,614.62 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.134138% 0.000000% 0.000000% 0.134138% 0.068691% 0.000000% 0.000000% 0.068691% 30 Days 5.365526% 0.000000% 0.000000% 0.000000% 5.365526% 5.230607% 0.000000% 0.000000% 0.000000% 5.230607% 60 Days 1.341382% 0.000000% 0.402414% 0.000000% 1.743796% 1.436896% 0.000000% 0.329836% 0.000000% 1.766732% 90 Days 0.603622% 0.000000% 0.737760% 0.000000% 1.341382% 0.629313% 0.000000% 0.616596% 0.000000% 1.245908% 120 Days 0.000000% 0.067069% 1.140174% 0.067069% 1.274313% 0.000000% 0.060410% 1.305918% 0.036888% 1.403216% 150 Days 0.000000% 0.000000% 0.000000% 0.067069% 0.067069% 0.000000% 0.000000% 0.000000% 0.215025% 0.215025% 180+ Days 0.000000% 0.000000% 0.000000% 0.134138% 0.134138% 0.000000% 0.000000% 0.000000% 0.204418% 0.204418% Totals 7.310530% 0.201207% 2.280349% 0.268276% 10.060362% 7.296816% 0.129101% 2.252349% 0.456331% 10.134597%
OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 0.00
COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 9.248717% Weighted Average Net Coupon 8.447164% Weighted Average Pass-Through Rate 8.263779% Weighted Average Maturity(Stepdown Calculation ) 343 Beginning Scheduled Collateral Loan Count 1,511 Number Of Loans Paid In Full 20 Ending Scheduled Collateral Loan Count 1,491 Beginning Scheduled Collateral Balance 234,788,820.23 Ending Scheduled Collateral Balance 231,174,607.37 Ending Actual Collateral Balance at 31-Aug-2001 231,174,607.37 Monthly P &I Constant 1,954,034.67 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans 231,174,607.37 Scheduled Principal 144,455.18 Unscheduled Principal 3,469,757.68
Miscellaneous Reporting Overcollateralization Target 1,250,000.00 Overcollaterized Amount 816,968.30 Overcollateralization Deficiency Amount 556,604.64 Excess Cash Amount 123,572.94