-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GXnliVrD72dawWYfc7zXfyNz2GqCR0twfV9Rm3qq5mbIwqQf1osvL5o4dkSKADm4 p+vH4cZtYdxFjKZB75Kmaw== 0001020242-02-000409.txt : 20021121 0001020242-02-000409.hdr.sgml : 20021121 20021120195157 ACCESSION NUMBER: 0001020242-02-000409 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021025 ITEM INFORMATION: Other events FILED AS OF DATE: 20021121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPAC SECURED ASSETS CORP MORTGAGE PASS THR CERT SER 2002-3 CENTRAL INDEX KEY: 0001176349 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-66328-04 FILM NUMBER: 02835390 BUSINESS ADDRESS: STREET 1: C/O NORWEST BANK MINNESOTA NA STREET 2: 1761 EAST ST ANDREW PLACE CITY: SANTA ANA STATE: CA ZIP: 92705 8-K 1 im02s38k4.txt 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): October 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, as trustee). IMPAC SECURED ASSETS CORP MORTGAGE PASS THR CERT SER 2002-3 (Exact name of Registrant as specified in its Charter) CALIFORNIA (State or Other Jurisdiction of Incorporation) 333-66328-04 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 October 25, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Deutsche Bank National Trust Company, N.A., not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of June 1, 2002. Date: November 20, 2002 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of October 25, 2002. IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates October 25, 2002 Distribution Contents TABLE OF CONTENTS > Page 1. Contents > 1 2. Certificate Payment > Report 2 3. Collection Account >Report 8 4. Credit Enhancement >Report 11 5. Collateral Report > 12 6. Delinquency Report > 15 7. REO Report > 16 8. Prepayment Report > 17 9. Prepayment Detail R >eport 20 10. Realized Loss Repor >t 21 11. Realized Loss Detai >l Report 24 12. Triggers, Adj. Rate > Cert. and Miscellaneous Report 25 13. Additional Certific >ate Report 26 Total Number of Pag >es 26 CONTACTS Administrator: Ja >mes F Noriega Direct Phone Number >: (714)247-6281 Address: Deutsche > Bank 17 >61 E. St. Andrew Place, Santa Ana, CA 92705 Web Site: http:// >www.corporatetrust.db.com/invr Factor Information: > (800) 735-7777 Main Phone Number: > (714) 247-6000 ISSUANCE INFORMATION Seller: Impac Secured Asset Corp. > Cut-Off Date: June 1, 200 >2 Certificate Insurer(s): > Closing Date: June 28, 2 >002 > First Payment Date: July 25, 2002 > Servicer(s): Impac Funding Corporation Mas >ter Servicer GMAC Sub-Servicer > Distribution Date: October 25, >2002 Underwriter(s): UBS Securities Underwriter > Record Date: September >30, 2002 > Page 1 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) LT-1 129000084 >124437765.2 820390.81 1138224.66 1958615.47 0 > 0 123299540.5 LT-2 2500000 > 2500000 16481.95 0 16481.95 0 > 0 2500000 LT-3 2500000 > 2500000 16481.95 0 16481.95 0 > 0 2500000 LT-4 2250000 > 2250000 14833.76 0 14833.76 0 > 0 2250000 LT-5 13750000 > 13750000 90650.73 0 90650.73 0 > 0 13750000 LT-P 100 > 100 5179.7 0 5179.7 0 > 0 100 R-1 0 > 0 0 0 0 0 > 0 0 Total 150000184 >145437865.2 964018.9 1138224.66 2102243.56 0 > 0 144299640.5 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) LT-1 F-30/360 > 129000084 964.6332102 6.359614541 8.823441231 15.1 >8305577 955.809769 LT-2 F-30/360 > 2500000 1000 6.59278 0 >6.59278 1000 LT-3 F-30/360 > 2500000 1000 6.59278 0 >6.59278 1000 LT-4 F-30/360 > 2250000 1000 6.592782222 0 6.59 >2782222 1000 LT-5 F-30/360 > 13750000 1000 6.592780364 0 6.59 >2780364 1000 LT-P F-30/360 > 100 1000 51797 0 > 51797 1000 R-1 F-30/360 > 0 0 0 0 > 0 0 > Page 2 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC I Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) LT-1 129000084 3356763.11 > 5269053.61 431489.9 5700543.51 9057306.62 0 > 0 123299540.5 LT-2 2500000 65994.21 > 0 0 0 65994.21 0 > 0 2500000 LT-3 2500000 65994.21 > 0 0 0 65994.21 0 > 0 2500000 LT-4 2250000 59394.79 > 0 0 0 59394.79 0 > 0 2250000 LT-5 13750000 362968.15 > 0 0 0 362968.15 0 > 0 13750000 LT-P 100 15742.66 > 0 0 0 15742.66 0 > 0 100 R-1 0 0 > 0 0 0 0 0 > 0 0 Total 150000184 3926857.13 > 5269053.61 431489.9 5700543.51 9627400.64 0 > 0 144299640.5 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) LT-1 0.079113361 124437765.2 > 820390.81 0 0 0 820390.81 82 >0390.81 0 LT-2 0.079113361 2500000 > 16481.95 0 0 0 16481.95 1 >6481.95 0 LT-3 0.079113361 2500000 > 16481.95 0 0 0 16481.95 1 >6481.95 0 LT-4 0.079113361 2250000 > 14833.76 0 0 0 14833.76 1 >4833.76 0 LT-5 0.079113361 13750000 > 90650.73 0 0 0 90650.73 9 >0650.73 0 LT-P 0.079113361 100 > 0.66 0 0 0 0.66 > 5179.7 0 R-1 0 > 0 0 0 0 0 > 0 0 Total 145437865.2 > 958839.86 0 0 0 958839.86 9 >64018.9 0 > Page 3 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) MT-AA 147000080.3 >142529007.8 866774.95 1115460.16 1982235.11 0 > 0 141413547.7 MT-A1 287500 > 234983.87 1429.03 13513.04 14942.07 0 > 0 221470.83 MT-A2 317500 > 317500 1930.84 0 1930.84 0 > 0 317500 MT-A3 567500 > 567500 3451.19 0 3451.19 0 > 0 567500 MT-A4 222500 > 222500 1353.11 0 1353.11 0 > 0 222500 MT-M1 41250 > 41250 250.86 0 250.86 0 > 0 41250 MT-M2 33750 > 33750 205.25 0 205.25 0 > 0 33750 MT-B 30000 > 30000 182.44 0 182.44 0 > 0 30000 MT-ZZ 1500003.68 > 1461273.44 6755.79 11382.25 18138.04 0 >2130.79 1452021.98 MT-IO 0 > 0 49374.5 0 49374.5 0 > 0 0 MT-P 100 > 100 5179.65 0 5179.65 0 > 0 100 MT-J 0 > 0 25000.5 0 25000.5 0 > 0 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 150000184 >145437865.2 961888.11 1140355.45 2102243.56 0 >2130.79 144299640.5 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) MT-AA F-30/360 > 147000080.3 969.5845576 5.89642501 7.588160208 13.4 >8458522 961.9963974 MT-A1 F-30/360 > 287500 817.3352 4.97053913 47.00187826 51.9 >7241739 770.3333217 MT-A2 F-30/360 > 317500 1000 6.081385827 0 6.08 >1385827 1000 MT-A3 F-30/360 > 567500 1000 6.08139207 0 6.0 >8139207 1000 MT-A4 F-30/360 > 222500 1000 6.081393258 0 6.08 >1393258 1000 MT-M1 F-30/360 > 41250 1000 6.081454545 0 6.08 >1454545 1000 MT-M2 F-30/360 > 33750 1000 6.081481481 0 6.08 >1481481 1000 MT-B F-30/360 > 30000 1000 6.081333333 0 6.08 >1333333 1000 MT-ZZ F-30/360 > 1500003.68 974.1799033 4.503848951 7.58814805 12 >.091997 968.0122785 MT-IO F-30/360 > 21000000 1000 2.351166667 0 2.35 >1166667 1000 MT-P F-30/360 > 100 1000 51796.5 0 >51796.5 1000 MT-J F-30/360 > 21000000 1000 1.1905 0 > 1.1905 1000 R-2 F-30/360 > 0 0 0 0 > 0 0 > Page 4 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC II Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) MT-AA 147000080.3 3541342.34 > 5164489.86 422042.78 5586532.64 9127874.98 0 > 0 141413547.7 MT-A1 287500 6479.42 > 60888.61 5140.56 66029.17 72508.59 0 > 0 221470.83 MT-A2 317500 7743.65 > 0 0 0 7743.65 0 > 0 317500 MT-A3 567500 13841.01 > 0 0 0 13841.01 0 > 0 567500 MT-A4 222500 5426.65 > 0 0 0 5426.65 0 > 0 222500 MT-M1 41250 1006.07 > 0 0 0 1006.07 0 > 0 41250 MT-M2 33750 823.14 > 0 0 0 823.14 0 > 0 33750 MT-B 30000 731.67 > 0 0 0 731.67 0 > 0 30000 MT-ZZ 1500003.68 27196.99 > 52698.87 4306.56 57005.43 84202.42 0 >9023.73 1452021.98 MT-IO 0 197498 > 0 0 0 197498 0 > 0 0 MT-P 100 15742.46 > 0 0 0 15742.46 0 > 0 100 MT-J 0 100002 > 0 0 0 100002 0 > 0 0 R-2 0 0 > 0 0 0 0 0 > 0 0 Total 150000184 3917833.4 > 5278077.34 431489.9 5709567.24 9627400.64 0 >9023.73 144299640.5 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) MT-AA 0.07297672 142529007.8 > 866774.95 0 0 0 866774.95 86 >6774.95 0 MT-A1 0.07297672 234983.87 > 1429.03 0 0 0 1429.03 >1429.03 0 MT-A2 0.07297672 317500 > 1930.84 0 0 0 1930.84 >1930.84 0 MT-A3 0.07297672 567500 > 3451.19 0 0 0 3451.19 >3451.19 0 MT-A4 0.07297672 222500 > 1353.11 0 0 0 1353.11 >1353.11 0 MT-M1 0.07297672 41250 > 250.86 0 0 0 250.86 > 250.86 0 MT-M2 0.07297672 33750 > 205.25 0 0 0 205.25 > 205.25 0 MT-B 0.07297672 30000 > 182.44 0 0 0 182.44 > 182.44 0 MT-ZZ 0.07297672 1461273.44 > 8886.58 0 0 -2130.79 6755.79 >8886.58 2130.79 MT-IO 0.028214 21000000 > 49374.5 0 0 0 49374.5 >49374.5 0 MT-P 0.07297672 100 > 0.61 0 0 0 0.61 >5179.65 0 MT-J 0.014286 21000000 > 25000.5 0 0 0 25000.5 >25000.5 0 R-2 0 > 0 0 0 0 0 > 0 0 Total 187437865.2 > 958839.86 0 0 -2130.79 956709.07 9 >64018.9 2130.79 > Page 5 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - Current Period Prio >r > Current Class Original Prin >cipal Total Realized Deferred > Principal Class Type Face Value Bala >nce Interest Principal Distribution Losses Interest > Balance (1) > (2) (3) (4)=(2)+(3) (5) (6) > (7)=(1)-(3)-(5)+(6) A-1 FLT, SEQ 28750000 >23498387.46 40608.15 1351303.85 1391912 0 > 0 22147083.61 A-2 STEP, AFC, 31750000 > 31750000 137847.92 0 137847.92 0 > 0 31750000 A-3 STEP, AFC, 56750000 > 56750000 300775 0 300775 0 > 0 56750000 A-4 STEP, AFC, 22250000 > 22250000 129791.67 0 129791.67 0 > 0 22250000 A-IO IO, NTL, AR 0 > 0 49374.5 0 49374.5 0 > 0 0 M-1 MEZ, STEP, 4125000 > 4125000 23925 0 23925 0 > 0 4125000 M-2 MEZ, STEP, 3375000 > 3375000 20193.75 0 20193.75 0 > 0 3375000 B MEZ, STEP, 3000000 > 3000000 19225 0 19225 0 > 0 3000000 C SUB 84 > 689377.69 24019.68 0 24019.68 0 21 >3079.19 902456.88 P SUB 100 > 100 5179.04 0 5179.04 0 > 0 100 R-3 R 0 > 0 0 0 0 0 > 0 0 Total 150000184 >145437865.2 750939.71 1351303.85 2102243.56 0 21 >3079.19 144299640.5 Interest Accrual Detail Curr >ent Period Factor Information per $1,000 of Original Face > Orig. PrincipalPrior > Current Period Period > (with Notional)Principal Total > Principal Class Starting Ending Method Cusi >p Balance Balance Interest Principal Distribu >tion Balance > (1) (2) (3) (4)=(2)+ >(3) (5) A-1 37524 37553 F-30/360 4525 >4TLU6 28750000 817.335216 1.412457391 47.00187304 48.4 >1433043 770.333343 A-2 F-30/360 4525 >4TLV4 31750000 1000 4.341666772 0 4.34 >1666772 1000 A-3 F-30/360 4525 >4TLW2 56750000 1000 5.3 0 > 5.3 1000 A-4 F-30/360 4525 >4TLX0 22250000 1000 5.833333483 0 5.83 >3333483 1000 A-IO F-30/360 4525 >4TLY8 21000000 1000 2.351166667 0 2.35 >1166667 1000 M-1 F-30/360 4525 >4TLZ5 4125000 1000 5.8 0 > 5.8 1000 M-2 F-30/360 4525 >4TMA9 3375000 1000 5.983333333 0 5.98 >3333333 1000 B F-30/360 4525 >4TMB7 3000000 1000 6.408333333 0 6.40 >8333333 1000 C F-30/360 4525 >4TMD3 150000268 974.1798765 0.160130914 0 0.16 >0130914 968.0122511 P F-30/360 4525 >4TMC5 100 1000 51790.4 0 >51790.4 1000 R-3 F-30/360 4525 >4TME1 0 0 0 0 > 0 0 > Page 6 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REMIC III Certificate Payment Report for October 25, 2002 Distribution Distribution in Dollars - to Date > > Current Original Unsc >heduled Scheduled Total Total Realized Deferred > Principal Class Face Value Interest Prin >cipal Principal Principal Distribution Losses Interest > Balance (1) (2) (3) > (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) > (9)=(1)-(5)-(7)+(8) A-1 28750000 187942.53 > 6171426.49 431489.9 6602916.39 6790858.92 0 > 0 22147083.61 A-2 31750000 551391.68 > 0 0 0 551391.68 0 > 0 31750000 A-3 56750000 1203100 > 0 0 0 1203100 0 > 0 56750000 A-4 22250000 519166.68 > 0 0 0 519166.68 0 > 0 22250000 A-IO 0 197498 > 0 0 0 197498 0 > 0 0 M-1 4125000 95700 > 0 0 0 95700 0 > 0 4125000 M-2 3375000 80775 > 0 0 0 80775 0 > 0 3375000 B 3000000 76900 > 0 0 0 76900 0 > 0 3000000 C 84 96270.34 > 0 0 0 96270.34 0 90 >2372.88 902456.88 P 100 15740.02 > 0 0 0 15740.02 0 > 0 100 R-3 0 0 > 0 0 0 0 0 > 0 0 Total 150000184 3024484.25 > 6171426.49 431489.9 6602916.39 9627400.64 0 90 >2372.88 144299640.5 Interest Detail Pass- Prior Principal > Non- Prior Unscheduled Paid or > Current Through (with Notional) Accr >ued Supported Unpaid Interest Optimal Deferred > Unpaid Class Rate Balance Inte >rest Interest SF Interest Adjustments Interest Interest > Interest (1) > (2) (3) (4) (5)=(1)-(2)+(3)(6) > (7)=(5)-(6) A-1 0.0207375 23498387.46 > 40608.15 0 0 0 40608.15 4 >0608.15 0 A-2 0.0521 31750000 > 137847.92 0 0 0 137847.92 13 >7847.92 0 A-3 0.0636 56750000 > 300775 0 0 0 300775 > 300775 0 A-4 0.07 22250000 > 129791.67 0 0 0 129791.67 12 >9791.67 0 A-IO 0.028214 21000000 > 49374.5 0 0 0 49374.5 >49374.5 0 M-1 0.0696 4125000 > 23925 0 0 0 23925 > 23925 0 M-2 0.0718 3375000 > 20193.75 0 0 0 20193.75 2 >0193.75 0 B 0.07297672 3000000 > 18244.18 0 0 0 18244.18 > 19225 0 C 0.019643866 146127242.6 > 238080.17 0 0 -214060.49 24019.68 23 >7098.87 214060.49 P 100 > 0 0 0 0 0 >5179.04 0 R-3 0 > 0 0 0 0 0 > 0 0 Total 311875730 > 958840.34 0 0 -214060.49 744779.85 9 >64018.9 214060.49 > Page 7 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collection Account Report for October 25, 2002 Distribution Collection Account Report SUMMARY > TOTAL Principal Collections > 1,138,224.66 Other Principal Deposits > 0.00 TOTAL NET PRINCIPAL > 1,138,224.66 Interest Collections > 984,724.86 Interest Withdrawals > 0.00 Interest Fees > (19,725.14) TOTAL NET INTEREST > 964,999.72 TOTAL AVAILABLE FUNDS TO BONDHOLDERS > 2,103,224.38 PRINCIPAL - COLLECTIONS > TOTAL Scheduled Principal > 108,105.98 Curtailments > 17,027.46 Prepayments In Full > 1,013,091.22 Repurchases/Substitutions > 0.00 Liquidations > 0.00 Insurance Principal > 0.00 Other Principal > 0.00 Delinquent Principal > (91,577.35) Total Realized Loss Of Principal > 0.00 Principal Advanced > 91,577.35 TOTAL PRINCIPAL COLLECTED > 1,138,224.66 Page 8 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collection Account Report for October 25, 2002 Distribution Collection Account Report PRINCIPAL - WITHDRAWALS > TOTAL SPACE INTENTIONALLY LEFT BLANK PRINCIPAL - OTHER ACCOUNTS > TOTAL SPACE INTENTIONALLY LEFT BLANK INTEREST - COLLECTIONS > TOTAL Scheduled Interest > 1,032,974.01 Repurchases/Substitutions > 0.00 Liquidation Interest > 0.00 Insurance Interest > 0.00 Other Interest > 0.00 Prepayment Interest Shortfalls > (3,089.02) Delinquent Interest > (879,857.39) Interest Realized Losses > 0.00 Compensating Interest > 3,089.02 Civil Relief Act Shortfalls > 0.00 Prepayment Premiums > 5,179.04 Interest Advanced > 825,448.38 Net WAC Shortfall > 980.82 TOTAL INTEREST COLLECTED > 984,724.86 Page 9 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collection Account Report for October 25, 2002 Distribution Collection Account Report INTEREST - WITHDRAWALS > TOTAL Undistributed Receipts on Repurchased Loans > 0.00 Reimburse Advances from Late Collections > 0.00 Reimbursement for Expenses > 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 SPACE INTENTIONALLY LEFT BLANK INTEREST - FEES > TOTAL Radian PMI Fee > 8,262.91 Trustee Fee Amount > 1,636.18 Retained Spread > 0.00 Current Servicing Fees > 64,235.06 Delinquent Servicing Fees > (54,409.01) TOTAL INTEREST OTHER FEES > 19,725.14 Page 10 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Credit Enhancement Report for October 25, 2002 Distribution Credit Enhancement Report ACCOUNTS > TOTAL SPACE INTENTIONALLY LEFT BLANK INSURANCE > TOTAL SPACE INTENTIONALLY LEFT BLANK STRUCTURAL FEATURES > TOTAL Overcollateralization Amount > 902,456.60 Excess Overcollateralized Amount > 0.00 Overcollateralization Release Amount > 0.00 Overcollateralization Deficiency Amount > 238,079.69 Overcollateralization Target Amount > 1,125,001.38 Page 11 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collateral Report for October 25, 2002 Distribution Collateral Report COLLATERAL > TOTAL Loan Count: Original > 898 Prior > 876 Prefunding > 0 Scheduled Paid Offs > 0 Full Voluntary Prepayments > -8 Repurchases > 0 Liquidations > 0 Current > 868 Principal Balance: Original > 150000183.7 Prior > 145437864.9 Prefunding > 0 Scheduled Principal > -108105.98 Partial and Full Voluntary Prepayments > -1030118.68 Repurchases > 0 Liquidations > 0 Current > 144299640.2 PREFUNDING > TOTAL SPACE INTENTIONALLY LEFT BLANK Current Prin Balance by Groups (in millions of dollars) Tota >l Current Principal Balance (in millions of dollars) Page 12 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collateral Report for October 25, 2002 Distribution Collateral Report CHARACTERISTICS > TOTAL Weighted Average Coupon Original > 0.085360723 Weighted Average Coupon Prior > 0.085355509 Weighted Average Coupon Current > 0.08523013 Weighted Average Months to Maturity Original > 346 Weighted Average Months to Maturity Prior > 344 Weighted Average Months to Maturity Current > 343 Weighted Avg Remaining Amortization Term Original > 349.2666323 Weighted Avg Remaining Amortization Term Prior > 346.8301024 Weighted Avg Remaining Amortization Term Current > 345.7798611 Weighted Average Seasoning Original > 2.29451346 Weighted Average Seasoning Prior > 4.27652073 Weighted Average Seasoning Current > 5.26734256 Note: Original information refers to deal issue. WAC by Groups Tota >l WAC WARAT by Groups Tota >l WARAT Note: Dates correspond to distribution dates. Page 13 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Collateral Report for October 25, 2002 Distribution Collateral Report ARM CHARACTERISTICS > TOTAL Weighted Average Margin Original > 0 Weighted Average Margin Prior > 0 Weighted Average Margin Current > 0 Weighted Average Max Rate Original > 0 Weighted Average Max Rate Prior > 0 Weighted Average Max Rate Current > 0 Weighted Average Min Rate Original > 0 Weighted Average Min Rate Prior > 0 Weighted Average Min Rate Current > 0 Weighted Average Cap Up Original > 0 Weighted Average Cap Up Prior > 0 Weighted Average Cap Up Current > 0 Weighted Average Cap Down Original > 0 Weighted Average Cap Down Prior > 0 Weighted Average Cap Down Current > 0 Note: Original information refers to deal issue. SERVICING FEES / ADVANCES > TOTAL Current Servicing Fees > 9,826.05 Delinquent Servicing Fees > 54,409.01 TOTAL SERVICING FEES > 64,235.06 Total Servicing Fees > 64,235.06 Compensating Interest > 3,089.02 Delinquent Servicing Fees > (54,409.01) COLLECTED SERVICING FEES > 12,915.07 Current PPIS > (3,089.02) Current Net PPIS > 0.00 Total Advanced Principal For Current Payment Date > 91,577.35 Total Advanced Interest For Current Payment Date > 825,448.38 TOTAL ADVANCES FOR CURRENT PERIOD > 917,025.73 ADDITIONAL COLLATERAL INFORMATION > TOTAL Weighted Average Net Mortgage Rate > 7.9113% Page 14 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Delinquency Report for October 25, 2002 Distribution Delinquency Report - Total CURRENT 1 PA >YMENT 2 PAYMTS 3+ PAYMTS TOTAL DELINQUENT Balance > 2303731.85 1679111.84 1049918.58 5032762.27 % Balance >0.015964917 0.011636286 0.007275961 0.034877164 # Loans > 11 9 4 24 % # Loans >0.012672811 0.010368664 0.004608295 0.02764977 FORECLOSURE Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 BANKRUPTCY Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 REO Balance 0 > 0 0 0 0 % Balance 0 > 0 0 0 0 # Loans 0 > 0 0 0 0 % # Loans 0 > 0 0 0 0 TOTAL Balance 0 > 2303731.85 1679111.84 1049918.58 5032762.27 % Balance 0 >0.015964917 0.011636286 0.007275961 0.034877164 # Loans 0 > 11 9 4 24 % # Loans 0 >0.012672811 0.010368664 0.004608295 0.02764977 Note: Current = 0-30days, 1 Payment =31-60days, 2 Payments = 61-90days, 3+ Pay >ments = 91+ > 6 Months Moving Average 1 or 2 Payments Delinquent 3 or > More Payments Delinquent Total Foreclosure Tota >l Bankruptcy and REO Note: Dates correspond to distribution dates. Page 15 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates REO Report for October 25, 2002 Distribution REO Report - Mortgage Loans that Become REO During Current Dis >tribution SUMMARY LOAN GROUP Total Loan Count = 0 Loan Group 1 >= Group 1 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 be >come REO during current distribution. Loan Number Original Stated Curr >ent State & & Principal Principal Paid to Note > LTV at Original Origination Loan Group Balance Balance Date Rate > Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page 16 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Prepayment Report for October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENTS > TOTAL Current Number of Paid in Full Loans > 8 Number of Repurchased Loans > 0 Total Number of Loans Prepaid in Full > 8 Paid in Full Balance > 1013091.22 Repurchased Loans Balance > 0 Curtailments Amount > 17027.46 Total Prepayment Amount > 1030118.68 Cumulative Number of Paid in Full Loans > 30 Number of Repurchased Loans > 0 Total Number of Loans Prepaid in Full > 30 Paid in Full Balance > 5195596.91 Repurchased Loans Balance > 0 Curtailments Amount > 73456.7 Total Prepayment Amount > 5269053.61 SPACE INTENTIONALLY LEFT BLANK Total Prepayments by Groups (in thousands of dollars) Tota >l Prepayments (in thousands of dollars) Page 17 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Prepayment Report for October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments VOLUNTARY PREPAYMENT RATES > TOTAL SMM > 0.007088147 3 Months Avg SMM > 0.010557632 12 Months Avg SMM Avg SMM Since Cut-off > 0.008917667 CPR > 0.081818914 3 Months Avg CPR > 0.11958783 12 Months Avg CPR Avg CPR Since Cut-off > 0.101916298 PSA > 7.76662165 3 Months Avg PSA Approximation > 13.97466155 12 Months Avg PSA Approximation Avg PSA Since Cut-off Approximation > 13.47143398 CPR by Groups Tota >l CPR PSA by Groups Tota >l PSA Page 18 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Prepayment Report for October 25, 2002 Distribution Prepayment Report - Voluntary Prepayments CPR Avg since Cut-Off by Groups Tota >l CPR Avg since Cut-Off PSA Avg since Cut-Off by Groups Tota >l PSA Avg since Cut-Off PREPAYMENT CALCULATION METHODOLOGY Single Monthly Mortality (SMM): (Voluntary partial and full p >repayments + Repurchases)/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn >,m): [(1-SMMn) * (1-SMMn+1) * *(1-SMMm)]^(1/months in period n,m) Average CPR over period between the nth month and mth month (Avg >CPRn,m): 1-((1-AvgSMMn,m)^12) Average PSA Approximation over period between the nth month and >mth month: AvgCPRn,m/(0.02*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+ +min(30,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 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Prepayment Detail Report for October 25, 2002 Distribution Prepayment Detail Report - Loans Prepaid in Full During Curren >t Distribution SUMMARY > LOAN GROUP Total Loan Count = 8 > Loan Group 1 = Group 1 Group Total Original Principal Balance = 1,019,230.00 Total Prepayment Amount = 1,013,091.22 Loan Number Original > Current State & Type Prepayment & Loan Principal Prepayment Prep >ayment Note LTV at & Origination Loan Group Status Balance Amount Date > Rate Origination Original Term Date 1100344200 1 187500 186728.2 > 37522 0.0875MI - 94.92% Paid Off - 36 37396 1100344259 1 116000 115347.3 > 37523 0.085FL - 80.00% Paid Off - 36 37396 1100345923 1 70330 70110.06 > 37526 0.09375OH - 94.46% Paid Off - 36 37376 1100351347 1 115000 114600.59 > 37516 0.0675CA - 69.70% Paid Off - 36 37400 1109005897 1 164000 163469.86 > 37512 0.0825CO - 80.00% Paid Off - 36 37407 1109005935 1 80000 77181.7 > 37502 0.0825MO - 80.00% Paid Off - 18 37407 1109006258 1 136800 136548.31 > 37519 0.09875FL - 90.00% Paid Off - 36 37400 2500015678 1 149600 149105.2 > 37510 0.07CA - 80.00% Paid Off - 36 37369 Page > 20 of 26 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Realized Loss Report for October 25, 2002 Distribution Realized Loss Report - Collateral COLLATERAL REALIZED LOSSES > TOTAL Current Number of Loans Liquidated > 0 Collateral Realized Loss/(Gain) Amount > 0 Net Liquidation Proceeds > 0 Cumulative Number of Loans Liquidated > 0 Collateral Realized Loss/(Gain) Amount > 0 Net Liquidation Proceeds > 0 Note: Collateral realized losses may include adjustments to loan >s liquidated in prior periods. SPACE INTENTIONALLY LEFT BLANK > 3 Months Moving Average Collateral Loss Severity Approximation by Groups Coll >ateral Loss Severity Approximation Page 21 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Realized Loss Report for October 25, 2002 Distribution Realized Loss Report - Collateral DEFAULT SPEEDS > TOTAL MDR > 0 3 Months Avg MDR > 0 12 Months Avg MDR Avg MDR Since Cut-off > 0 CDR > 0 3 Months Avg CDR > 0 12 Months Avg CDR Avg CDR Since Cut-off > 0 SDA > 0 3 Months Avg SDA Approximation > 0 12 Months Avg SDA Approximation Avg SDA Since Cut-off Approximation > 0 Loss Severity Approximation for Current Period 3 Months Avg Loss Severity Approximation 12 Months Avg Loss Severity Approximation Avg Loss Severity Approximation Since Cut-off CDR by Groups Tota >l CDR SDA by Groups Tota >l SDA Page 22 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Realized Loss Report for October 25, 2002 Distribution Realized Loss Report - Collateral CDR Avg since Cut-Off by Groups Tota >l CDR Avg since Cut-Off SDA Avg since Cut-Off by Groups Tota >l SDA Avg since Cut-Off COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY Monthly Default Rate (MDR): (Beg Principal Balance of Liquida >ted Loans)/(Total Beg Principal Balance) Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0. >02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60))) Average MDR over period between nth month and mth month (AvgMDRn >,m): [(1-MDRn) * (1-MDRn+1) * *(1-MDRm)]^(1/months in period n,m) Average CDR over period between the nth month and mth month (Avg >CDRn,m): 1-((1-AvgMDRn,m)^12) Average SDA Approximation over period between the nth month and >mth month: AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX >(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60))) Average WASn,m: (WASn + WASn+1 + + WASm )/(number of months > in the period n,m) Loss Severity Approximation for current period: sum(Realized Los >s Amount)/sum(Beg Principal Balance of Liquidated Loans) Average Loss Severity Approximation over period between nth mont >h and mth month: Avg(Loss Severityn,m) Note: Default rates are calculated since deal issue date and in >clude realized gains and additional realized losses and gains from priorperiod >s. Dates correspond to distribution dates. Page 23 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Realized Loss Detail Report for October 25, 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 Total Prior Principal Balance = 0.00 Total Realized Loss Amount = 0.00 Total Net Liquidation Proceeds = 0.00 Loan Number Original Prior > Current State & & Loan Principal Principal Real >ized Note LTV at Original Origination Loan Group Status Balance Balance Loss >/(Gain) Rate Origination Term Date SPACE INTENTIONALLY LEFT BLANK Page > 24 of 26 (c) COPYRIGHT 2002 Deutsc >he Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Triggers, Adj. Rate Cert. and Miscellaneous Report for October 2 >5, 2002 Distribution Triggers, Adj. Rate Cert. and Miscellaneous Report TRIGGER EVENTS > TOTAL Optional Termination Date Reached > No After the 36th Distribution > No Stepdown date occurred > No Trigger Event in Effect > No ADJUSTABLE RATE CERTIFICATE INFORMATION > TOTAL SPACE INTENTIONALLY LEFT BLANK ADDITIONAL INFORMATION > TOTAL NET WAC SHORTFALL RESERVE FUND Original Net WAC Shortfall Reserve Fund Balance > 5,000.00 Net WAC Shortfall Reserve Fund Beginning Balance > 5,000.00 Net WAC Shortfall > 980.82 Net WAC Shortfall Reserve Fund Ending Balance > 5,000.00 Page 25 of 26 > (c) COPYRIGHT 2002 Deutsche Bank IMPAC Secured Assets Corp. 2002-3 Mortgage Pass-Through Certificates Additional Certificate Report for October 25, 2002 Distribution > Additional Certificate Report CLASS > Net PPIS & Other Int. Shortfalls A-1 > 0.00 A-2 > 0.00 A-3 > 0.00 A-4 > 0.00 A-IO > 0.00 M-1 > 0.00 M-2 > 0.00 B > 0.00 Page 26 of 26 > (c) COPYRIGHT 2002 Deutsche Bank -----END PRIVACY-ENHANCED MESSAGE-----