-----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, FeJfMV7Mcw3Uz/pm8fnU/j/OU4+sPMm02RJfdsNY0xvl9VJ6zS4GD/GrB7BC+XE8 L5Xlaswc7Six1FZnIeDulQ== 0001020242-03-000881.txt : 20031029 0001020242-03-000881.hdr.sgml : 20031029 20031029161011 ACCESSION NUMBER: 0001020242-03-000881 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031027 ITEM INFORMATION: Other events FILED AS OF DATE: 20031029 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003 10 CENTRAL INDEX KEY: 0001265232 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330705301 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-103591-07 FILM NUMBER: 03963861 BUSINESS ADDRESS: STREET 1: 1401 DOVE STREET STREET 2: SUITE 200 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 MAIL ADDRESS: STREET 1: 1401 DOVE STREET CITY: NEWPORT BEACH STATE: CA ZIP: 92660 8-K 1 im031010.htm 8K Impac CMB Trust 2003-10 



                           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 27, 2003


                           IMPAC CMB TRUST SERIES 2003-10.
              (as Company under a Series 2003-10 Indenture, dated as of
               July 31,2003 providing for, inter alia, the issuance of
               Collateralized Asset Backed Bonds, Series 2003-10).


                        IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003 10
                 (Exact name of Registrant as specified in its Charter)


                                       California
                    (State or Other Jurisdiction of Incorporation)

               333-103591-07                          33-0705301
          (Commission File Number)        (I.R.S. Employer Identification No.)


          1401 DOVE STREET
          NEWPORT BEACH, CALIFORNIA                    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 27, 2003..



                                     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,
                                  not in its individual capacity, but solely as
                                  a duly authorized agent of the Registrant
                                  pursuant to the Indenture, dated as of
                                  September 29,2003.



          Date:  Oct 29, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of October 27, 2003.
< /TR>< TD ALIGN="center">  - < TD ALIGN="left">  < TD ALIGN="left">Weighted Average Coupon Original < TD ALIGN="right"> < TD ALIGN="right">  2,819,225.23 < TD ALIGN="right"> < TD ALIGN="right"> < TD ALIGN="right"> < TD COLSPAN=4 ALIGN="left">Loan Group 1 = Group 1 - Adj Group 0.00   
                       
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  
  
 October 27, 2003 Distribution
  
  
 Contents
            
       &nbs p;    
             
   TABLE OF CONTENTS        
            
        Page   
             
    1. Contents    1    
    2. Certificate Payment Report    2    
    3. Collection Account Report    4    
    4. Credit Enhancement Report    7    
    5. Collateral Report    8    
    6. Delinquency Report   < /FONT> 11    
    7. REO Report    14    
    8. Prepayment Report    15    
    9. Prepayment Detail Report    18    
    10. Realized Loss Report    19    
    11. Realized Loss Detail Report    22    
 < FONT SIZE="-1" FACE="Times New Roman">   12. Triggers, Adj. Rate Cert. and Miscellaneous Report    23    
    13. Other Related Information    24    
            
            
            
            
    Total Number of Pages    24    
            
            
            
   CONTACTS        
            
     Administrator: James Noriega        
      Direct Phone Number: (714)247-6281        
   &n bsp; Address: Deutsche Bank        
     1761 E. St. Andrew Place, Santa Ana, CA 92705       
            
     Web Site: https://www.corporatetrust.db.com/invr        
     Factor Information: (800) 735-7777        
     Main Phone Number: (714) 247-6000   &n bsp;    
            
            
            
< FONT SIZE="-1" FACE="Times New Roman">ISSUANCE INFORMATION           
            
 Seller: IMPAC Mortgage Holdings Inc.     Cut-Off Date: September 1, 2003    
 Certificate Insurer(s):        Closing Date: September 29, 2003    
         First Payment Date: October 27, 2003    
 Servicer(s): Impac Funding Corp. Master Servicer         
   Impac Funding Corp. Sub-Servicer   < FONT SIZE="-1" FACE="Times New Roman">     
   Countrywide Funding Corporation         
         Distribution Date: October 27, 2003    
 Underwriter(s): Countrywide Securities Underwriter     Record Date: October 24, 2003    
   Countrywide Securities      September 30, 2003    
            
            
< FONT SIZE="-1" FACE="Times New Roman">            
            
      < FONT SIZE="-1" FACE="Arial">      
            
      Page 1 of 24    © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  Series 2003-10
 Certificate Payment Report for October 27, 2003 Distribution
            
            
 Distribution in Dollars - Current Period          
     Prior     Current
 ClassOriginalPrincipal  TotalRealizedDeferredPrincipal
ClassTypeFace ValueBalanceInterestPrincipalDistributionLossesInterestBalance
< FONT FACE="Times New Roman" SIZE=-2>     (1)(2)(3)(4)=(2)+(3)(5)(6)(7)=(1)- (3)-(5)+(6)
            
1-A-1< /TD>STEP. FLT, 685,100,000.00 685,100,000.00 783,297.67 2,454,900.46 3,238,198.13 - - 682,645,099.54
1-A-2STEP. FLT, 75,000,000.00 75,000,000.00 81,083.33 268,745.49 349,828.82 - - 74,731,254.51
2-ASTEP, AFC 94,900,000.00 94,900,000.00 324,953.42 66,864.99 391,818.41 - - 94,833,135.01
M-1MEZ, STEP, 22,500,000.00 22,500,000.00 27,825.00 73,434.00 101,259.00 - - 22,426,566.00
M-2MEZ, STEP, 14,500,000.00 14,500,000.00 19,059.44 47,324.13 66,383.57 - - 14,452,675.87
M-3MEZ, STEP, 35,500,000.00 35,500,000.00 49,423.89 115,862.53 165,286.42 - - 35,384,137.47
M-4MEZ, STEP, 41,000,000.00 4 1,000,000.00 75,576.67 133,813.07 209,389.74 - - 40,866,186.93
M-5MEZ, STEP, 24,000,000.00 24,000,000.00 49,840.00 78,329.60 128,169.60 - - 23,921,670.40
M-6MEZ, STEP, 7,500,000.00 7,500,000.00 16,450.00 24,478.00 40,928.00 - - 7,475,522.00
CertR - - 2,862,270.20 - 2,862,270.20 - - -
M-1-1  20,002,458.00 20,002,458.00 24,736.37 71,674.27 96,410.64 - - 19,930,783.73
M-1-2  2,497,542.00 2,497,542.00 3,088.63 1,759.73 4,848.36 - - 2,495,782.27
M-2-1  12,890,473.00 12,890,473.00 16,943.81 46,190.09 63,133.90 - - 12,844,282.91
M-2-2  1,609,527.00 1,609,527.00 2,115.63 1,134.05 3,249.68 < /TD> - - 1,608,392.95
M-3-1  31,559,434.00 31,559,434.00 43,937.75 113,086.07 157,023.82 - - 31,446,347.93
M-3-2  3,940,566.00 3,940,566.00 5,486.14 2,776.46 8,262.60 - - 3,937,789.54
M-4-1  36,448,924.00 36,448,924.00 67,187.52 130,606.45 197,793.97 - - 36,318,317.55
M-4-2  4,551,076.00 4,551,076.00 8,389.15 3,206.61 11,595.76 - - < /TD> 4,547,869.39
M-5-1  21,335,956.00 21,335,956.00 44,307.67 76,452.56 120,760.23 - - 21,259,503.44
M-5-2  2,664,044.00 2,664,044.00 5,532.33 1,877.04 7,409.37 - - 2,662,166.96
M-6-1  6,667,486.00 6,667,486.00 14,624.02 23,891.42 38,515.44 - - 6,643,594.58
M-6-2  832,514.00 832,514.00 1,825.98 586.58 2,412.56 - - 831,927.42
Total  1,145,000,000.00 1,145,000,000.00 4,527,954.62 3,736,993.59 8,264,948.21 - - 1,141,263,006.40
            
            
 Interest Accrual Detail   Current Period Factor Information per $1,000 of Original Face      
      Orig. PrincipalPrior   Current
 PeriodPeriod  (with Notional)Principal  TotalPrincipal
ClassStartingEndingMethodCusipBalanceBalanceInterestPrincipalDistributionBalance
 < /FONT>     (1)(2)(3)(4)=(2)+(3)(5)
           
1-A-109/29/0310/26/03 A-Act/360 45254NFP7 685,100,000.00 1,000.000000 1.143333 3.583273 4.726607 996.416727
1-A-209/29/0310/26/03 A-Act/360 45254NFQ5 75,000,000.00 1,000.000000 1.081111 3.583273 4.664384 996.416727
2-A09/29/0310/26/03 A-Act/360 45254NFR3 94,900,000.00 1,000.000000 3.424167 0.704584 4.128750 999.295416
M-109/29/0310/26/03 A-Act/360 45254NFS1 22,500,000.00 1,000.000000 1.236667 3.263733 4.500400 996.736267
M-209/29/0310/26/03 A-Act/360 45254NFT9 14,500,000.00 1,000.000000 1.314444 3.263733 4.578177 996.736267
M-309/29/0310/26/03 A-Act/360 45254NFU6 35,500,000.00 1,000.000000 1.392222 3.263733 4.655956 996.736267
M-409/29/0310/26/03 A-Act/360 45254NFV4 41,000,000.00 1,000.000000 1.843333 3.263733 5.107067 996.736267
M-509/29/0310/26/03 A-Act/360 45254NFW2 24,000,000.00 1,000.000000 2.076667 3.263733 5.340400 996.736267
M-609/29/0310/26/03 A-Act/360 45254NFX0 7,500,000.00 1,000.000000 2.193333 3.263733 < /TD> 5.457067 996.736267
Cert09/29/0310/26/03 A-Act/360 - - - - - -
M-1-109/29/0310/26/03 A-Act/360 20,002,458.00 1,000.000000 1.236667 3.583273 4.819940 996.416727
M-1-209/29/0310/26/03 A-Act/360 2,497,542.00 1,000.000000 1.236668 0.704584 1.941252 999.295415
M-2-109/29/0310/26/03 A-Act/360 12,890,473.00 1,000.000000 1.314444 3.583273 4.897718 996.416727
M-2-209/29/0310/26/03 A-Act/360 1,609,527.00 1,000.000000 1.314442 0.704584 2.019026 999.295414
M-3-109/29/0310/26/03 A-Act/360 31,559,434.00 1,000.000000 1.392222 3.583273 4.975496 996.416727
M-3-209/29/03< /TD>10/26/03 A-Act/360 3,940,566.00 1,000.000000 1.392221 0.704584 2.096805 999.295416
M-4-109/29/0310/26/03 A-Act/360 36,448,924.00 1,000.000000 1.843333 3.583273 5.426607 996.416727
M-4-209/29/0310/26/03 A-Act/360 4,551,076.00 1,000.000000 1.843333 0.704584 2.547917 999.295417
M-5-109/29/0310/26/03 A-Act/360 21,335,956.00 1,000.000000 2.076667 3.583273 5.659940 996.416727
M-5-209/29/0310/26/03 A-Act/360 2,664,044.00 1,000.000000 2.076666 0.704584 2.781250 999.295417
M-6-109/29/0310/26/03 A-Act/360 6,667,486.00 1,000.000000 2.193333 3.583273 5.776607 996.416727
M-6-209/29/0310/26/03 A-Act/360 832,514.00 1,000 .000000 2.193332 0.704584 2.897916 999.295411
           
            
            
       Page 2 of 24   © COPYRIGHT 2003 Deutsche Bank
 Imp ac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  Series 2003-10
 Certificate Payment Report for October 27, 2003 Distribution
             
            
 Distribution in Dollars - to Date          
          Current
 Original Unscheduled Scheduled TotalTotalRealizedDeferredPrincipal
ClassFace ValueInterestPrincipalPrincipalPrincipalDistributionLossesInterestBalance
 (1)(2)(3)(4)(5)=(3)+(4)(6)=(2)+(5)(7)(8)(9)=(1)-(5)-(7)+(8)
         
1-A-1 685,100,000.00 783,297.67 1,964,609.67 490,290.79 2,454,900.46 3,238,198.13 - - 682,645,099.54
1-A-2 75,000,000.00 81,083.33 215,071.85 53,673.64 268,745.49 349,828.82 - - 74,731,254.51
2-A 94,900,000.00 324,953.42 272,137.58 - 66,864.99 391,818.41 - - 94,833,135.01
M-1 22,500,000.00 27,825.00 64,521.56 8,912.44 73,434.00 101,259.00 - - 22,426,566.00
M-2 14,500,000.00 19,059.44 41,580.56 5,743.57 47,324.13 66,383.57 - - 14,452,675.87
M-3 35,500,000.00 49,423.89 101,800.68 14,061.86 115,862.53 165,286.42 - - 35,384,137.47
M-4 41,000,000.00 75,576.67 117,572.61 16,240.45 133,813.07 209,389.74 - - 40,866,186.93
M-5 24,000,000.00 49,840.00 68,822.99 9,506.61 78,329.60 128,169.60 - - 23,921,670.40
M-6 7,500,000.00 16,450.00 21,507.19 2,970.81 24,478.00 40,928.00 - - 7,475,522.00
Cert - 2,862,270.20 - - - 2,862,270.20 - - -
M-1-1 20,002,458.00 24,736.37 57,359.54 14,314.73 71,674.27 96,410.64 - - 19,930,783.73
M-1-2 2,497,542.00 3,088.63 7,162.01 - 1,759.73 4,848.36 - - 2,495,782.27
M- 2-1 12,890,473.00 16,943.81 36,965.04 9,225.05 46,190.09 63,133.90 - - 12,844,282.91
M-2-2 1,609,527.00 2,115.63 4,615.52 - 1,134.05 3,249.68 - - 1,608,392.95
M-3-1 31,559,434.00 43,937.75 90,500.61 22,585.46 113,086.07 157,023.82 - - 31,446,347.93
M-3-2 3,940,566.00 5,486.14 11,300.06 - 2,776.46 8,262.60 - - 3,937,789.54
M-4-1 36,448, 924.00 67,187.52 104,521.83 26,084.62 130,606.45 197,793.97 - - 36,318,317.55
M-4-2 4,551,076.00 8,389.15 13,050.78 - 3,206.61 11,595.76 - - 4,547,869.39
M-5-1 21,335,956.00 44,307.67 61,183.51 15,269.04 76,452.56 120,760.23 - - 21,259,503.44
M-5-2 2,664,044.00 5,532.33 7,639.48 - 1,877.04 7,409.37 - - 2,662,166.96
M-6-1 6,667,486.00 14,624.02 19,119.85 4,771.58 23,891.42 38,515.44 - - 6,643,594.58
M-6-2 832,514.00 1,825.98 2,387.34 - 586.58 2,412.56 - - 831,927.42
Total 1,145,000,000.00 4,527,954.62 3,283,430.26 693,650.65 3,736,993.59 8,264,948.21 - - 1,141,263,006.40
            
            
 Interest Detail          
 Pass-Prior Principal Non-PriorUnscheduled Paid orCurrent
 Through(with Notional)AccruedSupportedUnpaidInterestOptimalDeferredUnpaid
ClassRateBalanceInterestInterest SFInterestAdjustmentsInterestInterestInterest
   (1)(2)(3)(4)(5)=(1)-(2)+(3)+(4)(6)(7)=(5)-(6)
          
1- A-11.47000% 685,100,000.00 783,297.67 - - - 783,297.67 783,297.67 -
1-A-2 1.39000% 75,000,000.00 81,083.33 - - - 81,083.33 81,083.33 0.00
2-A4.10900% 94,900,000.00 324,953.42 - - - 324,953.42 324,953.42 -
M-11.59000% 22,500,000.00 27,825.00 - - - 27,825.00 27,825.00 -
M-21.69000% 14,500,000.00 19,059.44 - - - 19,059.44 19,059.44 -
M-31.79000% 35,500,000.00 49,423.89 - - - 49,423.89 49,423.89 -
M-42.37000% 41,000,000.00 75,576.67 - - - 75,576.67 75,576.67 -
M-52.67000% 24,000,000.0 0 49,840.00 - - - 49,840.00 49,840.00 -
M-62.82000% 7,500,000.00 16,450.00 - - - 16,450.00 16,450.00 -
Cert  - - - - - - 2,862,270.20 -
M-1-11.59000% 20,002,458.00 24,736.37 - - - 24,736.37 24,736.37 -
M-1-21.59000% 2,497,542.00 3,088.63 - - - 3,088.63 3,088.63 -
M-2-11.69000% 12,890,473.00 16,943.81 - - - 16,943.81 16,943.81 -
M-2-21.69000% 1,609,527.00 2,115.63 - - - 2,115.63 2,115.63 -
M-3-11.79000% 31,559,434.00 43,937.75 - - - 43,937.75 43,937.75 -
M-3-21.79000% 3,940,566.00 5,486.14 - - - 5,486.14 5,486.14 -
M-4-12.37000% 36,448,924.00 67,187.52 - - - 67,187.52 67,187.52 -
M-4-22.37000% 4,551,076.00 8,389.15 - - - 8,389.15 8,389.15 -
M-5-12.67000% 21,335,956.00 44,307.67 - - - 44,307.67 44,307.67 -
M-5-22.67000% 2,664,044.00 5,532.33 - - - 5,532.33 5,532.33 -
M-6-12.82000% 6,667,486.00 14,624.02 - - - 14,624.02 14,624.02 -
M-6-22.82000% 832,514.00 1,825.98 - - - 1,825.98 1,825.98 -
Total  1,145,000,000.00 1,665,684.42 - - - 1,665,684.42 4,527,954.62 0.00
            
             
       Page 3 of 24   © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collection Account Report for October 27, 2003 Distribution   
             
            
 Collection Account Report   
            
            
SUMMARY    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Principal Collections    78,269.38 3,185,550.14 3,263,819.52    
 Principal Withdrawals    0.00 0.00 0.00    
 Princip al Other Accounts    0.00 0.00 0.00    
 TOTAL PRINCIPAL    78,269.38 3,185,550.14 3,263,819.52    
             
 Interest Collections    615,786.50 3,919,836.33 4,535,622.83    
 Interest Withdrawals    0.00 0.00 0.00    
 Interest Other Accounts    0.00 0.00 0.00    
 Interest Fees    (25,748.15)(220,162.32)(245,910.47) & nbsp; 
 Interest Earnings    0.00 0.00 0.00    
 TOTAL INTEREST    590,038.35 3,699,674.01 4,289,712.36    
            
 TOTAL AVAILABLE FUNDS TO BONDHOLDERS < /TD>   668,307.73 6,885,224.15 7,553,531.88    
            
            
PRINCIPAL - COLLECTIONS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Scheduled Principal  & nbsp; 29,869.93 366,324.91 396,194.84    
 Curtailments     798.85 107,194.38 107,993.23    
 Prepayments in Full    17,519.00 2,712,030.85 2,729,549.85    
 Repurchases/Substitutions    30,081.60 0.00 30,081. 60    
 Liquidations    0.00 0.00 0.00     
 Insurance Principal    0.00 0.00 0.00    
 Other Additional Principal    0.00 0.00 0.00    
 Delinquent Principal    (16,534.07)(235,481.80)(252,015.87)   
 Realized Losses&nb sp;   0.00 0.00 0.00    
 Substitution Adjustments- Principal    0.00 0.00 0.00    
 Termination Price Amounts- Principal    0.00 0.00 0.00    
 Additional Principal Amts    0.00 0.00 0.00    
 Principal Advanced    16,534.07 235,481.80 252,015.87    
            
 TOTAL PRINCIPAL    78,269.38 3,185,550.14 3,263,819.52    
            
            
    Page 4 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collection Account Report for October 27, 2003 Distribution   
     
   < /FONT>  
 Collection Account Report   
            
           
PRINCIPAL - WITHDRAWALS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
PRINCIPAL - OTHER ACCOUNTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
     & nbsp;      
            
INTEREST - COLLECTIONS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Scheduled Interest    619,186.45 4,053,264.46 4,672,450.91    
 Repurchases/Substitutions    350.70 0.00 350.70    
 Liquidations    0.00 0.00 0.00    
 Insurance Interest    0.00 0.00 0.00   < /FONT> 
 Other Additional Interest    0.00 0.00 0.00    
 Prepayment Interest Shortfalls    (88.51)(2,885.60)(2,974.11)   
 Relief Act Interest Shortfalls    0.00 (169.53)(169.53)   
 Delinquent Interest    (81,345.76)(1,847,575.56)(1,928,921.32)   
 Interest Realized Losses &nbs p;  0.00 0.00 0.00    
 Compensating Interest    88.51 2,885.60 2,974.11    
 Substitution Adjustments- Interest    0.00 0.00 0.00    
 Termination Price Amounts- Interest    0.00 0.00 0.00    
 Additional Interest Amts    0.00 0.00 0.00 & nbsp;  
 Interest Prepayment Premiums    0.00 0.00 0.00    
 Interest Advanced    77,595.11 1,714,316.96 1,791,912.07    
 Cap Contract Payment Amt    0.00 0.00 0.00    
            
 TOTAL INTEREST    615,786.50 3,919,836.33 4,535,622.83    
            
            
    Page 5 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collection Account Report for October 27, 2003 Distribution   
     
     
 Collection Account Report   
            < /TD>
            
INTEREST - WITHDRAWALS     GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Prev. Unreimbursed PMI Premiums    0.00 0.00 0.00    
 Prev. Unreimbursed Spec Haz Premiums    0.00 0.00 0.00    
 Prev. Unreimbursed Liq. Expenses    0.00 0.00 0.00    
 Prev. Unreimbursed Master/Sub-Servicing Fees    0.00 0.00 0.00    
 Amt Rvcd Not Due Bondholder /Deposits in Error    0.00 0.00 0.00    
 Prev. Unreimb. P&I Advances/Non Recov Advances    0.00 0.00 0.00    
 Prev. Unreimbursed Servicing Advances     0.00 0.00 0.00    
 Clear and Terminate Collection Account    0.00 0.00 0.00    
            
 TOTAL INTEREST WITHDRAWALS    0.00 0.00 0.00    
            
INTEREST - OTHER ACCOUNTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Cap Contract Payment Amounts    0.00 0.00 0.00    
 Floor Contract Payment Amounts    0.00 0.00 0.00    
 Swap Contract Payment Amounts    0.00 0.00 0.00    
            
            
INTEREST - FEES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Owner Trustee Fee    157.24 1,259.42 1,416.66    
 Indenture Trustee Fee    342.24 2,741.10 3,083.34    
 Bond Insurance Premium Amount    0.00 0.00 0.00    
 Radian PMI Insurance Premiums    1,896.13 49,381.30 51,277.43    
 Current Servicing Fees    23,352.54 166,780.50 190,133.04    
            
 TOTAL INTEREST FEES    25,748.15 220,162.32 245,910.47    
            
            
    Page 6 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Credit Enhancement Report for October 27, 2003 Distribution   
     
     
 Credit Enhancement Report   
            
            
ACCOUNTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
INSURANCE    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
STRUCTURAL FEATURES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Current Periods Required Overcollateralization Amt    0.00 0.00 0.00    
 Current Periods Overcollateralization Amt    0.01 0.00 0.01    
 Current Periods Net Monthly Excess Cashflow    238,799.50 2,626,614.33 2,865,413.83    
 Current Periods Overcollateralization Release    63.93 3.33 67.26 &n bsp;  
 Current Periods Principal Available Funds Shortfall     0.00 0.00    
            
            
 Available Funds Rate    6.8347%5.3436%5.3436%   
            
            
    Page 7 of 24 &nbs p; © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collateral Report for October 27, 2003 Distribution   
     
     
  Collateral Report   
            
            
COLLATERAL    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
 Loan Count:          
 Original&n bsp;   56235224084   
 Prior   - - -    
 Prefunding   - - -    
 Scheduled Paid Offs   - -    
 Full Voluntary Prepayments   (1) (16) (17)   
 Repurchases   (1) - (1)   
 Liquidations   - - -    
 Current   560 3,506 4,066    
            
 Principal Balance:          
 Original   110,995,332.93 889,004,734.33 1,000,000,067.26    
Prior   - - -    
&nb sp;Prefunding   - - -    
 Scheduled Principal   (29,869.93) (366,324.91) (396,194.84)   
 Partial and Full Voluntary Prepayments    (18,317.85) (2,819,225.23) (2,837,543.08)   
 Repurchases  (30,081.60) - (30,081.60)   
 Liquidations   - - -    
 Current   110,917,063.55 885,819,184.19 996,736,247.74    
            
PREFUNDING    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
  Group 1 - Adj          
  Group 2 - Fix           
Current Prin Balance by Groups (in millions of dollars)Total Current Principal Balance (in millions of dollars)   
            
            
    Page 8 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collateral Report for October 27, 2003 Distribution   
     
     
 Collateral Report   
            
            
CHARACTERISTICS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
     6.697981%5.471194%5.607362%   
 Weighted Average Coupon Prior           
 Weighted Average Coupon Current    6.697981%5.471194%5.607362%   
 Weighted Average Months to Maturity Original   347 355 354    
 Weighted Average Months to Maturity Prior   - - -    
 Weighted Average Months to Maturity Current   347 355 354    
 Weighted Avg Remaining Amortization Term Original   347 355 354    
 Weighted Avg Remaining Amortization Term Prior   < /TD> - - -    
 Weighted Avg Remaining Amortization Term Current   347 355 354    
 Weighted Average Seasoning Original   3.47 5.13 4.95    
 Weighted Average Seasoning Prior   - - -    
 Weighted Average Seasoning Current   3.47 5.13 4.95    
            
Note: Original information refers to deal issue.           
            
            
  ; Group 1 - Adj          
  Group 2 - Fix          
WAC by GroupsTotal WAC   
            
            
WARAT by GroupsTotal WARAT   
          < FONT SIZE="-1" FACE="Arial">  
            
Note: Dates correspond to distribution dates.           
    Page 9 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003- 10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collateral Report for October 27, 2003 Distribution   
     
     
 Collateral Report   
            
             
ARM CHARACTERISTICS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Weighted Average Margin Original     3.187%    
 Weighted Average Margin Prior          
 Weighted Average Margin Current     3.187%    
 Weighted Average Max Rate Original     11.599%    
 Weighted Average Max Rate Prior          
 Weighted Average Max Rate Current     11.599%    
 Weighted Average Min Rate Original     3.350%    
 Weighted Average Min Rate Prior          
 Weighted Average Min Rate Current     3.350%    
 Weighted Average Cap Up Original     1.048%    
 Weighted Average Cap Up Prior          
 Weighted Average Cap Up Current     1.048%    
 Weighted Average Cap Down Original     0.535%    
 Weighted Average Cap Down Prior          
 Weighted Average Cap Down Current     0.535%    
   & nbsp;        
Note: Original information refers to deal issue.     ;       
            
SERVICING FEES / ADVANCES    GROUP 2 - FIX GROUP 1 - ADJ < /FONT>TOTAL   
    
 Current Servicing Fees    23,352.54 166,780.50 190,133.04    
 Delinquent Servicing Fees    3,750.66 133,258.59 137,009.25    
 TOTAL SERVICING FEES    27,103.20 3 00,039.09 327,142.29    
            
 Total Servicing Fees    27,103.20 300,039.09 327,142.29    
 Compensating Interest    88.51 2,885.60 2,974.11    
 Delinquent Servicing Fees    (3,750.66)(133,258.59)(137,009.25)   
 COLLECTED SERVICING FEES    23,441.05 169,666.10 193,107.15    
  & nbsp;         
 Current PPIS    88.51 2,885.60 2,974.11    
 Current Net PPIS    177.02 5,771.20 5,948.22    
            
 Total Advanced Principal For Current Payment Date    16,534.07 235,481.80 252,015.87    
 Total Advanced Interest For Current Payment Date    77,595.11 1,714,316.96 1,791,912.07    
 TOTAL ADVANCES FOR CURRENT PERIOD    94,129.18 1,949,798.76 2,043,927.94  &nbs p; 
            
            
ADDITIONAL COLLATERAL INFORMATION &n bsp;  GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
    Page 10 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Delinquency Report for October 27, 2003 Distribution   
     
     
 Delinquency Report - Total   
            
           
     <1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL   
DELINQUENT  Balance   15,624.11 - - 15,624.11     
   % Balance   0.00%0.00%0.00%0.00%   
   # Loans   1 - - 1    
   % # Loans   0.02%0.00%0.00%0.02%   
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   834,819 .31 - - - 834,819.31    
   % Balance  0.08%0.00%0.00%0.00%0.08%   
   # Loans   9 - - - 9    
   % # Loans  0.22%0.00%0.00%0.00%0.22%   
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   834,819.31 15,624.11 - - 850,443.42    
   % Balance  0.08%0.00%0.00%0.00%0.09%   
   # Loans   9 1 - - 10    
   % # Loans  0.22%0.02%0.00%0.00%0.25%   
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+           
         6 Months Moving Average    
1 or 2 Payments Delinquent3 or More Payments Delinquent   
            
            
Total ForeclosureTotal Bankruptcy and REO   
            
            
Note: Dates correspond to distribution dates.           
    Page 11 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10< FONT SIZE="-1" FACE="Arial">   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Delinquency Report for October 27, 2003 Distribution   
     
     
 Delinquency Report - Group 1 - Adj Group   
            
            
     <1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL   
DELINQUENT  Balance   - - - -    
   % Balance   0.00%0.00%0.00%0.00%   
   # Loans   - - - -    
   % # Loans   0.00%0.00%0.00%0.00%   < /FONT>
FORECLOSURE  Balance   - - - - -   & nbsp;
   % Balance  0.00%0.00%0.00%0.00%0.00%   
   # Loans   - - - - -    
   % # Loans  0.00%0.00%0.00%0.00%0.00%   
BANKRUPTCY  Balanc e   786,093.05 - - - 786,093.05    
   % Balance  0.09%0.00%0.00%0.00%0.09%   
   # Loans   7 - - - 7    
   % # Loans  0.20%0.00%0.00%0.00%0.20%   
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   786,093.05 - - - 786,093.05    
   % Balance  0.09%0.00%0.00%0.00%0.09%   
   # Loans   7 - - - 7    
   % # Loans  0.20%0.00%0.00%0.00%0.20%   
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payment s = 61-90days, 3+ Payments = 91+           
        6 Months Moving Average    
1 or 2 Payments Delinquent3 or More Payments Delinquent&n bsp;  
            
            
Total ForeclosureTotal Bankruptcy and REO   
        &nbs p;   
            
Note: Dates correspond to distribution dates.           
    Page 12 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Delinquency Report for October 27, 2003 Distribution   
     
     
 Delinquency Report - Group 2 - Fix Group   
 & nbsp;          
            
     <1 PAYMENT < /FONT> 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL   
DELINQUENT  Balance   15,624.11 - - 15,624.11    
   % Balance   0.01%0.00%0.00%0.01%   
   # Loans   1 - - 1    
   % # Loans   0.18%0.00%0.00%0.18 %   
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   48,726.26 - - - 48,726.26    
   % Balance  0.04%0.00%0.00%0.00%0.04%   
   # Loans   2 - - - 2    
   % # Loans  0.36%0.00%0.00%0.00%0.36%   
REO  Balance   - - - - -    
   % Balance  < /FONT>0.00%0.00%0.00%0.00%0.00%   
   # Loans   - - - - -    
   % # Loans  0.00%0.00%0.00%0.00%0.00%   
            
TOTAL  Balance   48,726.26 15,624.11 - - 64,350.37    
   % Balance  0.04%0.01%0.00%0.00%0.06%   
   # Loans   2 1 - - 3    
   % # Loans  0.36%0.18%0.00%0.00%0.54%  < FONT SIZE="-1" FACE="Arial"> 
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+   
        6 Months Moving Average    
1 or 2 Payments Delinquent3 or More Payments Delinquent   
            
     < /FONT>       
Total ForeclosureTotal Bankruptcy and REO   
            
            
Note: Dates correspond to distribution dates.           
    Page 13 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
Collateralized Asset-Backed Bonds   
 Series 2003-10   
 REO Report for October 27, 2003 Dis tribution   
     
     
 REO Report - Mortgage Loans that Become REO During Current Distribution   
             
            
SUMMARY    LOAN GROUP       
            
Total Loan Count = 0 Loan Group 1 = Group 1 - Adj Group; REO Book Value = 000.00   
Total Original Principal Balance = 000.00 Loan Group 2 = Group 2 - Fix 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 BalanceDateRateOriginationTermDate   
SPACE INTENTIONALLY LEFT BLANK   
          
             
    Page 14 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Prepayment Report for October 27, 2003 Distribution  
     
     
 Prepayment Report - Voluntary Prepayments   
            
             
VOLUNTARY PREPAYMENTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Current          
 Number of Paid i n Full Loans   1 16 17    
 Number of Repurchased Loans   1 - 1    
 Total Number of Loans Prepaid in Full   2 16 18    
            
 Paid in Full Balance   17,519.00 2,712,030.85 2,729,549.85    
 Repurchased Loans Balance   30,081.60 - 30,081.60    
 Curtailments Amount   798.85 107,194.38 107,993.23    
 Total Prepayment Amount   48,399.45 2,867,624.68    
            
 Cumulative          
 Number of Paid in Full Loans   1 16 17    
 Number of Repurchased Loans   1 - 1    
 Total Number of Loans Prepaid in Full   2 16 18    
            
 Paid in Full Balance   17,519.00 2,712,030.85 2,729,549.85    
 Repurch ased Loans Balance   30,081.60 - 30,081.60    
 Curtailments Amount< FONT SIZE="-1" FACE="Times New Roman">   798.85 107,194.38 107,993.23    
 Total Prepayment Amount   48,399.45 2,819,225.23 2,867,624.68    
            
    
 Current Prin Balance of Repurchases Per Sec 3.18    0.00 0.00 0.00    
 Cumulative Prin Balance of Repurchases Per Sec 3.18     0.00 0.00 0.00    
             
            
Total Prepayments by Groups (in thousands of dollars)Total Prepayments (in thousands of dollars)   
            
            
    Page 15 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Prepayment Report for October 27, 2003 Distribution   
     
      
 Prepayment Report - Voluntary Prepayments   
            
       & nbsp;    
VOLUNTARY PREPAYMENT RATES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 SMM    0.04%0.32%0.29%   
 3 Months Avg SMM          
 12 Months Avg SMM          
 Avg SMM Since Cut-off    0.04%0.32%0.29%   
            
 CPR    0.52%3.74%3.39%   
 3 Months Avg CPR          
 12 Months Avg CPR          
 Avg CPR Since Cut-off    0.52%3.74%3.39%   
            
 PSA    75.15%364.37%342.35%   
 3 Months Avg PSA Approximation &n bsp;        
 12 Months Avg PSA Approximation          
 Avg PSA Since Cut-off Approximation    75.15%364.37%342.35%   
            
            
            
  Group 1 - Adj          
  Group 2 - Fix          
             
            
CPR by GroupsTotal CPR   
  < FONT SIZE="-1" FACE="Times New Roman">          
            
PSA by GroupsTotal PSA   
            
&nb sp;           
    Page 16 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
  ;Prepayment Report for October 27, 2003 Distribution   
     
     
 Prepayment Report - Voluntary Prepayments   
            
  Group 1 - Adj          
  Group 2 - Fix          
    
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    
            
            
PREPAYM ENT 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.   
         < /TD>   
    Page 17 of 24   © COPYRIGHT 2003 Deutsche Bank   
            
            
 Impac CMB Trust 2003-10  
 Collateralized Asset-Backed Bonds  
 Series 2003-10  
 Prepayment Detail Report for October 27, 2003 Distribution   
    
    
 Prepayment Detail Report - Loans Prepaid in Full During Current Distribution  
            
            
SUMMARY     LOAN GROUP     
            
Total Loan Count = 18     Loan Group 1 = Group 1 - Adj Group  
Total Original Principal Balance = 2,916,728.00 Loan Group 2 = Group 2 - Fix Group  
Total Prepayment Amount = 2,759,631.45    
            
            
Loan Number  Original    Current State & Type Prepayment    
&Loan Principal Prepayment Prepayment Note LTV at & Origination &n bsp; 
Loan GroupStatus Balance AmountDateRateOriginationOriginal TermDate 
   
1100371478 1  168,000.00 167,174.57 Sep-24-037.875%CA - 80.00% Paid Off - 360 Sep-12-03  
1100381780 1  562,400.00 562,400.00 Sep-26-035.250%CA - 79.77% Paid Off - 360 Aug-13-03  
2500028328 1  192,500.00 192,500.00 Sep-30-034.250%CA - 70.00% Paid Off - 360 Sep-17-03  
3900006064 1  119,200.00 115,657.08 Sep-30-038.750%CA - 80.00% Paid Off - 360 Feb-18-00  
3900006215 1&nb sp; 234,650.00 228,339.86 Sep-30-036.000%CA - 95.00% Paid Off - 360 Aug-21-00  
3900006272 1  364,500.00 < FONT SIZE="-1" FACE="Times New Roman"> 347,532.91 Sep-18-034.875%CA - 90.00% Paid Off - 360 Sep-28-00  
3900006284 1  187,500.00 181,969.01 Sep-30-034.750%CA - 94.70% Paid Off - 360 Oct-27-00  
3900006462 1  146,500.00 142,435.57 Sep-25-034.875%CA - 88.25% Paid Off - 360 Aug-17-00  
3900006506 1  118,000.00 114,813.66 Sep-24-038.250%FL - 85.51% Paid Off - 360 Nov-17-00  
3900006650 1  300,000.00 262,444.66 Sep-26-034.596%CA - 93.17% Paid Off - 360 Dec-29-95  
3900006705 1  50,500.00 36.12 Sep-10-039.850%MA - 74.93% Paid Off - 360 Jul-30-96  
3900006716 1  129,600.00 123,068.00 Sep-18-039.990%MD - 90.00% Paid Off - 360 Jul-30-96  
3900006731 1  94,500.00 89,253.67 Sep-29-037.125%CA - 67.50% Paid Off - 360 Aug-30-96  
3900006778 1  66,750.00 63,639.17 Sep-18-0310.750%IL - 75.00% Paid Off - 360 Nov-26-96  
3900006850 1  58,100.00 56,305.04 Sep-24-0310.490%MN - 70.00% Paid Off - 360 Feb-27-98  
3900006889 1  67,528.00 64,461.53 Sep-18-037.990%MA - 64.31% Paid Off - 360 Feb-27-98  
3900003032 2  21,500.00 17,519.00 Sep-18-0313.990%FL - 34.13% Paid Off - 180 Feb-25-98  
3900006646 2  35,000.00 30,081.60 Oct-01-0313.990%CA - 43.21% Repur/Subs - 300 Apr-06-98  
          
            
     Page 18 of 24   © COPYRIGHT 2003 Deutsche Bank  
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for October 27, 2003 Distribution   
     
    
 Realized Loss Report - Collateral   
            
            
COLLATERAL REALIZED LOSSES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Current          
 Number of Loans Liquidated   - - -    
 Collateral Realized Loss/(Gain) Amount   - - -    
 Net Liquidation Proceeds   - - -    
            
 Cumu lative          
 Number of Loans Liquidated   - - -    
 Collateral Realized Loss/(Gain) Amount   - - -    
 Net Liquidation Proceeds   - - -    
            
 Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.          
            
SPACE INTENTIONALLY LEFT BLANK   
     ;        
            
  Group 1 - Adj      3 Months Moving Average     
  Group 2 - Fix          
          &n bsp; 
Collateral Loss Severity Approximation by GroupsCollateral Loss Severity Approximation   
            
            
    Page 19 of 24    © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for October 27, 2003 Distribution   
     
     
 Realized Loss Report - Collateral    
            
            
DEFAULT SPEEDS< /FONT>    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 MDR     0.00%0.00%0.00%   
 3 Months Avg MDR           
 12 Months Avg MDR          
 Avg MDR Since Cut-off    0.00%0.00%0.00%< FONT SIZE="-1" FACE="Arial">   
             
 CDR    0.00%0.00%0.00%   
 3 Months Avg CDR          
 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          
 12 Months Avg SDA Approximation         < /TD> 
 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 - Adj          
  Group 2 - Fix          
CDR by GroupsTotal CDR   
           
            
SDA by GroupsTotal SDA   
            
            
    Page 20 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for October 27, 2003 Distribution   
     
     
 Realized Loss Report - Col lateral   
            
  Group 1 - Adj          
  Group 2 - Fix          
            
CDR Avg since Cut-Off by GroupsTotal 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)  &n bsp;
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 21 of 24   © COPYRIGHT 2003 Deutsche Bank   
            
            
 Impac CMB Trust 2003-10  
 C ollateralized Asset-Backed Bonds  
 Series 2003-10  
 Realized Loss Detail Report for October 27, 2003 Distribution  
    
    
 Realized Loss Detail Report - Loans Liquidated During Current Distribution  
            
   ;          
SUMMARY     LOAN GROUP     
            
Total Loan Count = 0       
Total Original Principal Balance = 0.00 Loan Group 2 = Group 2 - Fix Group  
Total Prior Principal Balance = 0.00    
Total Realized Loss Amount = 0.00    
Total Net Liquidation Proceeds = 0.00       
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.         < /FONT>  
            
Loan Number  Original Prior   Current State &      ;
&Loan Principal Principal Realized Note LTV at Original Origination   
Loan GroupStatus Balance BalanceLoss/(Gain)RateOriginationTermDate  
SPACE INTENTIONALLY LEFT BLANK  
        
            
     Page 22 of 24   © COPYRIGHT 2003 Deutsche Bank  
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Triggers, Adj. Rate Cert. and Miscellaneous Report for October 27, 2003 Distribution   
     
     
 Triggers, Adj. Rate Cert. and Miscellaneous Report   
            
            
TRIGGER EVENTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
ADJUSTABLE RATE CERTIFICATE INFORMATION    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Current Periods Basis Risk Shortfall Carry Forward Amt&nbs p;   0.00 0.00 0.00    
 Cumulative Basis Risk Shortfall Carry Forward Amt     0.00 0.00 0.00    
             
 Current Periods LIBOR Rate      1.1200%   
            
            
ADDITIONAL INFORMATION    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
            
 Current Periods Net Mortgage Rate    6.3791%4.9941%5.1479%   
            
 Total Derivative Payments    0.00 0.00    
 FXIMP310A1    0.00 0.00 0.00    
 FXIMP310C1    0.00 0.00 0.00    
 FXIMP310D1    0.00 0.00 0.00    
 FXIMP310E1    0.00 0.00 0.00    
 FXIMP310F1    0.00 0.00 0.00    
 FXIMP310H1    0.00 0.00 0.00    
 FXIMP310B1    0.00  0.00    
      < /TD>      
    Page 23 of 24   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds  ;  
 Series 2003-10   
 Other Related Information for October 27, 2003 Distribution   
     
     
 Other Related Information   
           
            
ADDITIONAL INFORMATION    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 FXIMP310G1    0.00  0.00    
            
  TOTAL    0.00  0.00    
            
            
    Page 24 of 24  © COPYRIGHT 2003 Deutsche Bank   
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