-----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, FxCXayDYUz7c35zeyR4hckYHNm351ECQWUNewdsHzDD8aP94yY8xflYaT3z+mMW/ X7JqGVrWBaXzEkHvXJ2YzA== 0001020242-03-000975.txt : 20031128 0001020242-03-000975.hdr.sgml : 20031127 20031128115856 ACCESSION NUMBER: 0001020242-03-000975 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20031125 ITEM INFORMATION: Other events FILED AS OF DATE: 20031128 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: 031028284 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 im031011.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):  November 25, 2003


                           IMPAC CMB TRUST SERIES 2003-10.
              (as Company under a Series 2003-10 Indenture, dated as of
               September 29,2003 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
     November 25, 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:  Nov 26, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of November 25, 2003.
< /TR> 84,582.48 < TD ALIGN="right"> 16,981.89 < TD ALIGN="center" COLSPAN=11 VALIGN="bottom"> Series 2003-10< TD BGCOLOR=#FFFFCC ALIGN="center">(7)=(1)-(3)-(5)+(6)< TD ALIGN="right"> 79,096.90 < TD BGCOLOR=#CCFFFF ALIGN="center">Non-< TD BGCOLOR=#FFFFCC ALIGN="center">(4)< TD ALIGN="center">  < TD ALIGN="right">        < TD ALIGN="center" COLSPAN=2>1103074460 1< TD ALIGN="left">Cumulative< TD ALIGN="left">  0.00
                       
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  
  
 November 25, 2003 Distribution
  
  
 Contents
            
       &nb sp;    
            
   TABLE OF CONTENTS       < /FONT> 
            
        Page   
            
    1. Contents    1    
    2. Certificate Payment Report    2    
    3. Collection Account Report    6    
    4. Credit Enhancement Report    9    
    5. Collateral Report    10    
    6. Delinquency Report    ; 13    
    7. REO Report    16    
    8. Prepayment Report    17    
    9. Prepayment Detail Report    20    
    10. Realized Loss Report    22    
    11. Realized Loss Detail Report    25    
    12. Triggers, Adj. Rate Cert. and Miscellaneous Report    26    
            
            
    &n bsp;       
            
            
    Total Number of Pages    26    
            
            
            
   CONTACTS        
            
     Administrator: James Noriega        
     Direct Phone Number: (714)247-6281        
     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        
            
            
            
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        
   Countrywide Funding Corporation         
         Distribution Date: November 25, 2003    
 Underwriter(s): Countrywide Securities Underwriter     Record Date: November 24, 2003    
   Countrywide Securities      October 31, 2003    
            
            
            
            
            
            
      Page 1 of 26    © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  Series 2003-10
 Certificate Payment Report for November 25, 2003 Distribution
            
            
 Distribution in Dollars - Current Period          ; 
     Prior     Current
 ClassOriginalPrincipal  TotalRealizedDeferredPrincipal
ClassTypeFace ValueBalanceInterestPrincipalDistributionLossesInterestBalance
     (1)(2)(3)(4)=(2)+(3)(5)(6)(7)=(1)-(3)-(5)+(6)
            
1-A-1STEP. FLT, 685,100,000.00 682,645,099.54 808,365.57 8,301,797.64 9,110,163.21 - - 674,343,301.90
1-A-2STEP. FLT, 75,000,000.00 74,731,254.51 83,678.25 908,823.27 992,501.52 - - 73,822,431.24
2-ASTEP, AFC 94,900,000.00 94,833,135.01 324,724.46 431,831.57 756,556.03 - - 94,401,303.44
M-1MEZ, STEP, 22,500,000.00 22,426,566.00 28,724.69 253,747.44 282,472.13 - - 22,172,818.56
M-2MEZ, STEP, 14,500,000.00 14,452,675.87 19,675.71 163,526.13 183,201.84 - - 14,289,149.74
M-3MEZ, STEP, 35,500,000.00 35,384,137.47 51,021.96 400,357.07 451,379.03 - - 34,983,780.40
M-4MEZ, STEP, 41,000,000.00 40,866,186.93 78,020.36 462,384.22 540,404.58 - - 40,403,802.71
M-5MEZ, STEP, 24,000,000.00 23,921,670.40 51,451.53 270,663.94 322,115.47 - - 23,651,006.46
M-6MEZ, STEP, 7,500,000.00 7,475,522.00 16,981.89 101,564.37 - - 7,390,939.52
CertR - - 2,806,038.18 - 2,806,038.18 - - -
  
  
Total  1,000,000,000.00 996,736,247.73 4,268,682.60 11,277,713.76 15,546,396.36 - - 985,458,533.97
            
            
 Interest Accrual Detail   Current Period Factor Information per $1,000 of Original Face      
      Orig. PrincipalPrior   Current
 PeriodPeriod  (with Notional)Principal  TotalPrincipal
ClassSt artingEndingMethodCusipBalanceBalanceInterestPrincipalDistributionBalance
      (1)(2)(3)(4)=(2)+(3)(5)
 &nbs p;         
1-A-110/27/0311/24/03 A-Act/360 45254NFP7 685,100,000.00 996.416727 1.179923 12.117644 13.297567 984.299083
1-A-210/27/0311/24/03 A-Act/360 452 54NFQ5 75,000,000.00 996.416727 1.115710 12.117644 13.233354 984.299083
2-A10/27/0311/24/03 A-30/360 45254NFR3 94,900,000.00 999.295416 3.421754 4.550385 7.972139 994.745031
M-110/27/0311/24/03 A-Act/360 45254NFS1 22,500,000.00 996.736267 1.276653 11.277664 12.554317 985.458603
M-210/27/0311/24/03 A-Act/360 45254NFT9 14,500,000.00 996.7 36267 1.356946 11.277664 12.634610 985.458603
M-310/27/0311/24/03 A-Act/360 45254NFU6 35,500,000.00 996.736267 1.437238 11.277664 12.714902 985.458603
M-410/27/0311/24/03 A-Act/360 45254NFV4 41,000,000.00 996.736267 1.902936 11.277664 13.180600 985.458603
M-510/27/0311/24/03 A-Act/360 45254NFW2 24,000,000.00 996.736267 2.143814 11.277664 13.421478 985.458603
M-610/27/0311/24/03 A-Act/360 45254NFX0 7,500,000.00 996.736267 2.264252 11.277664 13.541916 985.458603
Cert10/27/0311/24/03 A-Act/360 - - - - - -
            
            
       Page 2 of 26   © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  Series 2003-10
 Certificate Payment Report for November 25, 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 1,591,663.24 9,269,979.69 1,486,718.41 10,756,698.10 12,348,361.34 - - 674,343,301.90
1-A-2 75,000,000.00 164,761.58 1,014,813.13 162,755.63 1,177,568.76 1,342,330.34 - - 73,822,431.24
2-A 94,900,000.00 649,677.88 1,287,000.42 - 498,696.56 1,148,374.44 - - 94,401,303.44
M-1 22,500,000.00 56,549.69 304,520.88 22,660.56 327,181.44 383,731.13 - - 22,172,818.56
M-2 14,500,000.00 38,735.15 196,246.79 14,603.47 210,850.26 249,585.41 - - 14,289,149.74
M-3 35,500,000.00 100,445.85 480,466.28 35,753.32 516,219.60 616,665.45 - - 34,983,780.40
M-4 41,000,000.00 153,597.03 554,904.71 41,292.57 596,197.29 749,794.32 - - 40,403,802.71
M-5 24,000,000.00 101,291.53 324,822.27 24,171.27 348,993.54 450,285.07 - - 23,651,006.46
M-6 7,500,000.00 33,431.89 101,506.96 7,553.52 109,060.48 142,492.37 - - 7,390,939.52
Cert - 5,668,308.38 - - - 5,668,308.38 - - -
 
 
Total 1,000,000,000.00 8,558,462.22 13,534,261.13 1,795,508.75 14,541,466.02 23,099,928.24 - - 985,458,533.97
            
            
 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% 682,645,099.54 808,365.57 - - - 808,365.57 808,365.57 -
1-A-21.39000% 74,731,254.51 83,678.25 - - - 83,678.25 83,678.25 0.00
2-A4.10900% 94,833,135.01 324,724.46 - - - 324,724.46 324,724.46 -
M-11.59000% 22,426,566.00 28,724.69 - - - 28,724.69 28,724.69 -
M-21.69000% 14,452,675.87 19,675.71 - - - 19,675.71 19,675.71 -
M-31.79000% 35,384,137.47 51,021.96 - - - 51,021.96 51,021.96 -
M-42.37000% 40,866,186.93 78,020.36 - - - 78,020.36 78,020.36 -
M-52.67000% 23,921,670.40 51,451.53 - - - 51,451.53 51,451.53 -
M-62.82000% 7,475,522.00 16,981.89 - - - 16,981.89 -
Cert  - - - - - - 2,806,038.18 -
  
  
Total  996,736,247.73 1,462,644.42 - - - 1,462,644.42 4,268,682.60 0.00
             
            
       Page 3 of 26   © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
 
 Certificate Payment Report for November 25, 2003 Distribution
            
            
 Distribution in Dollars - Current Period          
     Prior     Current
 ClassOriginalPrincipal  TotalRealizedDeferredPrincipal
ClassTypeFace ValueBalanceInterestPrincipalDistributionLossesInterestBalance
   (1)(2)(3)(4)=(2)+(3)(5)(6)
          
M-1-1  20,002,458.00 19,930,783.73 25,528.01 242,382.66 267,910.67 - - 19,688,401.07
M-1-2  2,497,542.00 2,495,782.27 3,196.68 11,364.78 14,561.46 - - 2,484,417.49
M-2-1  12,890,473.00 12,844,282.91 17,486.06 156,202.16 173,688.22 - - 12,688,080.75
M-2-2  1,6 09,527.00 1,608,392.95 2,189.65 7,323.97 9,513.62 - - 1,601,068.98
M-3-1  31,559,434.00 31,446,347.93 45,343.89 382,425.97 427,769.86 - - 31,063,921.96
M-3-2  3,940,566.00 3,937, 789.54 5,678.07 17,931.09 23,609.16 - - 3,919,858.45
M-4-1  36,448,924.00 36,318,317.55 69,337.72 441,675.07 511,012.79 - - 35,876,642.48
M-4-2  4,551,076.00 4,547,869.39 8,6 82.64 20,709.15 29,391.79 - - 4,527,160.24
M-5-1  21,335,956.00 21,259,503.44 45,725.65 258,541.51 304,267.16 - - 21,000,961.93
M-5-2  2,664,044.00 2,662,166.96 5,725.88 12,122 .43 17,848.31 - - 2,650,044.53
M-6-1  6,667,486.00 6,643,594.58 15,092.03 80,794.22 95,886.25 - - 6,562,800.36
M-6-2  832,514.00 831,927.42 1,889.86 3,788.26 5,678.12 - - 828,139.16
  
  
Total  145,000,000.00 144,526,758.67 245,876.14 1,635,261.27 1,881,137.41 - - 142,891,497.40
   &nbs p;        
            
 Interest Accrual Detail   Current Period Factor Information per $1,000 of Original Face      
    & nbsp;Orig. PrincipalPrior   Current
 PeriodPeriod  (with Notional)Principal  TotalPrincipal
ClassStartingEndingMethodCusipBalanceBalanceInterestPrincipalDistributionBalance
      (1)(2)(3)(4)=(2)+(3)(5)
           
M-1-110/27/0311/24/03 A-Act/360 20,002,458.00 996.416727 1.276244 12.117644 13.393887 984.299083
M-1-210/27/0311/24/03 A-Act/360 2,497,542.00 999.295415 1.279930 4.550386 5.830316 994.745029
M-2-110/27/0311/24/03 A-Act/360 12,890,473.00 996.416727 1.356510 12.117644 13.474154 984.299083
M-2-210/27/0311/24/03 A-Act/360 1,609,527.00 999.295414 1.360431 4.550387 5.910817 994.745028
M-3-110/27/0311/24/03 A-Act/360 31,559,434.00 996.416727 1.436778 12.117643 13.554421 984.299083
M-3-210/27/0311/24/03 A-Act/360 3,940,566.00 999.295416 1.440928 4.550384 5.991312 994.745032
M-4-110/27/0311/24/03 A-Act/360 36,448,924.00 996.416727 1.902326 12.117644 14.019969 984.299083
M-4-210/27/0311/24/03 A-Act/360 4,551,076.00 999.295417 1.907821 4.550385 6.458207 994.745032
M-5-110/27/0311/24/03 A-Act/360 21,335,956.00 996.416727 2.143126 12.117644 14.260770 984.299083
M-5-210/27/0311/24/03 A-Act/360 2,664,044.00 999.295417 2.149319 4.550387 6.699705 994.745030
M-6-110/27/0311/24/03 A-Act/360 6,667,486.00 996.416727 2.263526 12.117644 14.381170 984.299084
M-6-210/27/0311/24/03 A-Act/360 832,514.00 999.295411 2.270064 4.550386 6.820450 994.745025
            
            
       Page 4 of 26   © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10
 Collateralized Asset-Backed Bonds
  Series 2003-10
 Certificate Payment Report for November 25, 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)
         
M-1-1 20,002,458.00 50,264.38 270,650.09 43,406.84 314,056.93 364,321.31 - - 19,688,401.07
M-1-2 2,497,542.00 6,285.31 33,870.79 - 13,124.51 19,409.82 - - 2,484,417.49
M-2-1 12,890,473.00 34,429.87 174,418.95 27,973.30 202,392.25 236,822.12 - - 12,688,080.75
M-2-2 1,609,527.00 4,305.28 21,827.84 - 8,458.02 12,763.30 - - 1,601,068.98
M-3-1 31,559,434.00 89,281.64 427,025.71 68,486.34 495,512.04 584,793.68 - - 31,063,921.96
M-3-2 3,940,566.00 11,164.21 53,440.57 - 20,707.55 31,871.76 - - 3,919,858.45
M-4-1 36,448,924.00 136,525.24 493,184.62 572,281.52 708,806.76 - - 35,876,642.48
M-4-2 4,551,076.00 17,071.79 61,720.09 - 23,915.76 40,987.55 - - 4,527,160.24
M-5-1 21,335,956.00 90,033.32 288,693.44 46,300.62 334,994.07 425,027.39 - - 21,000,961.93
M-5-2 2,664,044.00 11,258.21 36,128.83 - 13,999.47 25,257.68 - - 2,650,044.53
M-6-1 6,667,486.00 29,716.05 90,216.70 14,468.95 104,685.64 134,401.69 - - 6,562,800.36
M-6-2 832,514.00 3,715.84 11,290.26 - 4,374.84 8,090.68 - - 828,139.16
 
 
Total 145,000,000.00 484,051.14 1,962,467.89 279,732.94 2,108,502.60 2,592,553.74 - - 142,891,497.40
            
            
 Interest Detail  < /FONT>        
 Pass-Prior Principal PriorUnscheduled Paid orCurrent
 Through(with Notional)AccruedSupportedUnpaidInterestOptimalDeferredUnpaid
ClassRateBalanceInterestInterest SFInterestAdjustmentsInterestInterestInterest
   (1)(2)(3)(5)=(1)-(2)+(3)+(4)(6)(7)=(5)-(6)
          
M-1-11.59000% 19,930,783.73 25,528.01 - - - 25,528.01 25,528.01 -
M-1-21.59000% 2,495,782.27 3,196.68 - - - 3,196.68 3,196.68 -
M-2-11.69000% 12,844,282.91 17,486.06 - - - 17,486.06 17,486.06 -
M-2-21.69000% 1,608,392.95 2,189.65 - - - 2,189.65 2,189.65 -
M-3-11.79000% 31,446,347.93 45,343.89 - - - 45,343.89 45,343.89 -
M-3-21.79000% 3,937,789.54 5,678.07 - - - 5,678.07 5,678.07 -
M-4-12.37000% 36,318,317.55 69,337.72 - - - 69,337.72 69,337.72 -
M-4-22.37000% 4,547,869.39 8,682.64 - - - 8,682.64 8,682.64 -
M-5-12.67000% 21,259,503.44 45,725.65 - - - 45,725.65 45,725.65 -
M-5-22.67000% 2,662,166.96 5,725.88 - - - 5,725.88 5,725.88 -
M-6-12. 82000% 6,643,594.58 15,092.03 - - - 15,092.03 15,092.03 -
M-6-22.82000% 831,927.42 1,889.86 - - - 1,889.86 1,889.86 -
  
  
Total  144,526,758.67 245,876.14 - - - 245,876.14 245,876.14 -
           
            
       Page 5 of 26   © COPYRIGHT 2003 Deutsche Bank
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10< /B>   
 Collection Account Report for November 25, 2003 Distribution   
            
            
 Collection Account Report   < /TD>
            
            
SUMMARY & nbsp;  GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Principal Collections    505,071.26 10,772,642.50 11,277,713.76    
 Principal Withdrawals    0.00 0.00 0.00    
 Principal Other Accounts&n bsp;   0.00 0.00 0.00    
 TOTAL PRINCIPAL    505,071.26 10,772,642.50 11,277,713.76    
            
 Interest Collections    606,311.85 3,949,060.97 4,555,372.82    
 Interest Withdrawals    0.00 0.00 0.00    
 Interest Other Accounts    0.00 0.00 0.00    
 Interest Fees    (17,009.86)(274,601.87)(291,611.73)   
 Interest Earnings    0.00 0.00 0.00    
 TOTAL INTEREST    589,301.99 3,674,459.10 4,263,761.09    
            
 TOTAL AVAILABLE FUNDS TO BONDHOLDERS    1,094,373.25 14,447,101.60 15,541,474.85    
            
            
PRINCIPAL - COLLECTIONS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Scheduled Principal    < /FONT>105,356.34 505,720.97 611,077.31    
 Curtailments    7,032.97 1,015,344.79 1,022,377.76    
 Prepayments in Full    392,681.95 9,251,576.74 9,644,258.69    
 Repurchases/Substitutions    0.00 0.00 0.00    
 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    (47,206.00)(141,622.78)(188,828.78)   
 Realized Losses    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    47,206.00 141,622.78 188,828.78    
             
 TOTAL PRINCIPAL    505,071.26 10,772,642.50 11,277,713.76    
< I>            
            
    Page 6 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collection Account Report for November 25, 2003 Distribution   
     
     
 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   
        ;     
            
INTEREST - COLLECTIONS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Scheduled Interest    618,926.34 4,031,523.16 4,650,449.50    
 Repurchases/Substitutions    0.00 0.00 0.00    
 Liquidations    0.00 0.00 0.00    
 Insurance Interest    0.00 0.00 0.00    
 Other Additional Interest    0.00 0.00 0.00    
 Prepayment Interest Shortfalls    (1,400.01)(22,651.08)(24,051.09)   
 Relief Act Interest Shortfalls    (168.87)0.00 (168.87)   
 Delinquent Interest    (289,201.22)(1,151,523.36)(1,440,724.58)   
 Interest Realized Losses     0.00 0.00 0.00    
 Compensating Interest    1,400.01 22,651.08 24,051.09    
 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    
 Interest Prepayment Premiums    0.00 0.00 0.00    
 Interest Advanced    276,755.60 1,069,061.17 1,345,816.77    
 Cap Contract Payment Amt    0.00 0.00 0.00    
            
 TOTAL INTEREST    606,311.85 3,949,060.97 4,555,372.82    
           
            
    Page 7 of 26   © COPYRIGHT 2003 Deutsche Bank  
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds    ;
 Series 2003-10   
 Collection Account Report for November 25, 2003 Distribution   
     
     
 Collection Account Report   
            
            
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 AC COUNTS    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    157.13 1,254.91 1,412.04    
 Indenture Trustee Fee    341.99 2,731.28 3,073.27    
 Bond Insurance Premium Amount     0.00 4,921.50 4,921.50    
 Radian PMI Insurance Premiums    1,895.37 49,192.40 51,087.77    
 Current Servicing Fees    14,615.37 216,501.78 231,117.15    
          < FONT SIZE="-1" FACE="Arial">  
 TOTAL INTEREST FEES    17,009.86 274,601.87 291,611.73    
            
            
    Page 8 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10  < /TD> 
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Credit Enhancement Report for November 25, 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&nbs p;  
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    0.00 0.00 0.00    
 Current Periods Net Monthly Excess Cashflow    238,783.63 2,591,474.50 2,830,258.13 < FONT SIZE="-1" FACE="Arial">   
 Current Periods Overcollateralization Release    0.01 0.00 0.01     
 Current Periods Principal Available Funds Shortfall     0.00 0.00    
            
            
 Available Funds Rate    6.5973%5.1493%5.1493%   
            
      < /TD>      
    Page 9 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds    
 Series 2003-10   
 Collateral Report for November 25, 2003 Distribution   
     
     
 Collateral Report   
             
            
COLLATERAL    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
 Loan Count:          
 Original    56235224084   
 Prior   560 3,506 4,066    
 Prefunding   - - -    
 Scheduled Paid Offs   - - -    
 Full Voluntary Prepayments   (6) (45) (51)   
 Repurchases   - - -    
 Liquidations   - - -    
 Current   554 3,461 4,015    
            
 Principal Balance:          
 Original   110,995,332.93 889,004,734.33 1,000,000,067.26    
 < /TD>Prior   110,917,063.55 885,819,184.19 996,736,247.74    
 Prefunding   - - -    
 Scheduled Principal   (105,356.34) (505,720.97) (611,077.31)   
 Partial and Full Voluntary Prepayments   (399,714.92) (10,266,921.53) (10,666,636.45)   
 Repurchases   - - -    
 Liquidations   - - -    
 Current   110,411,992.29 875,046,541.69 985,458,533.98    
            
PREFUNDING    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
    &n bsp;       
  Group 1 - Adj          
  Group 2 - Fix          
Current Prin Balance by Groups (in millions of dollars)Total Current Principal Balance (in millions of dollars)   
            
            
    Page 10 of 26    © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collateral Report for November 25, 2003 Distribution   
     
     
 Collateral Report   
            
            
CHARACTERISTICS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Weighted Average Coupon Original< /FONT>    6.697981%5.471194%5.607362%   
 Weighted Average Coupon Prior    6.697981%5.471194%5.607362%   
 Weighted Average Coupon Current    6.696099%5.461417%5.598813%   
 Weighted Average Months to Maturity Original   347 355 354    
 Weighted Average Months to Maturity Prior   347 355 354    
 Weighted Average Months to Maturity Current   346 355 354    
 Weighted Avg Remaining Amortization Term Original   347 355 354    
 Weighted Avg Remaining Amortization Term Prior   347 355 354    
 Weighted Avg Remaining Amortization Term Current   346 354 353    
 Weighted Average Seasoning Original   3.47 5.13 4.95    
 Weighted Average Seasoning Prior   3.47 5.13 4.95    
 Weighted Average Seasoning Current   4.40 5.93 5.76    
            
Note: Original information refers to deal issue.           
            
            
  Group 1 - Adj          
  Group 2 - Fix &nbs p;        
WAC by GroupsTotal WAC   
            
            
WARAT by GroupsTotal WARAT   
            < /FONT>
            
Note: Dates correspond to distrib ution dates.           
    Page 11 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Collateral Report for November 25, 2003 Distribution   
     
    
 Collateral Report   
            
            
ARM CHARACTERISTICS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Weighted Average Margin Original     3.187%    
 Weighted Average Margin Prior     3.187%    
 Weighted Average Margin Current     3.185%    
 Weighted Average Max Rate Original     11.599%    
 Weighted Average Max Rate Prior     11.599%    
 Weighted Average Max Rate Current     11.594%    
 Weighted Average Min Rate Original     3.350%    
 Weighted Average Min Rate Prior     3.350%    
 Weighted Average Min Rate Current     3.347%    
 Weighted Average Cap Up Original     1.048%    
 Weighted Average Cap Up Prior     1.048%    
 Weighted Average Cap Up Current     1.048%    
 Weighted Average Cap Down Original     0.535%    
 Weighted Average Cap Down Prior     0.535%    
 Weighted Average Cap Down Current     0.537%    
            
Note: Original information refers to deal issue.           
         ;    
SERVICING FEES / ADVANCES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Current Servicing Fees    14,615.37 216,501.78 231,117.15    
 Delinquent Servicing Fees    12,445.62 82,462.19 94,907.81    
 TOTAL SERVICING FEES    27,060.99 298,963.97 326,024.96 < /TD>   
             
 Total Servicing Fees    27,060.99 298,963.97 326,024.96    
 Compensating Interest    1,400.01 22,651.08 24,051.09    
 Delinquent Servicing Fees    (12,445.62)(82,462.19)(94,907.81)   
 COLLECTED SERVICING FEES    16,015.38 239,152.86 255,168.24    
           
 Current PPIS    1,400.01 22,651.08 24,051.09    
 Current Net PPIS    2,800.02 45,302.16 48,102.18    
            
 Total Advanced Principal For Current Payment Date    47,206.00 141,622.78 188,828.78 & nbsp;  
 Total Advanced Interest For Current Payment Date    276,755.60 1,069,061.17 1,345,816.77  &nbs p; 
 TOTAL ADVANCES FOR CURRENT PERIOD    323,961.60 1,210,683.95 1,534,645.55    
            
            
ADDITIONAL COLLATERAL INFORMATION    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
            
    Page 12 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Delinquency Report for November 25, 2003 Dis tribution   
     
     
 Delinquency Report - Total   
            
            
     <1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL   
DELINQUENT  Balance   1,391,007.12 - - 1,391,007.12    
   % Balance   0.14%0.00%0.00%0.14%   
   # Loans   12 - - 12    
   % # Loans   0.30%0.00%0.00%0.30%   
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   825,247.23 54,602.99 - - 879,850.22    
   % Balance  0.08%0.01%0.00%0.00%0.09%   
   # Loans   8 2 - - 10    
   % # Loans  0.20%0.05%0.00%0.00%0.25%   
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   825,247.23 1,445,610.11 - - 2,270,857.34    
  < /FONT> % Balance  0.08%0.15%0.00%0.00%0.23%   
   # Loans   8 14 - - 22    
   % # Loans  0.20%0.35%0.00%0.00%0.55%   
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+   < /TD>        
        6 Months Moving Average    
1 or 2 Payments Delinquent3 or More Payments Delinquent   
 &n bsp;          
            
Total ForeclosureTotal Bankruptcy and REO   
            
            
Note: Dates correspond to distribution dates.            
    Page 13 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Delinquency Report for November 25, 2003 Distribution   
     
     
 Delinquency Report - Group 1 - Adj Group   
            
            
     <1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS T OTAL   
DELINQUENT  Balance   1,327,228.60 - - 1,327,228.60    
   % Balance   0.15%0.00%0.00%0.15%   
   # Loans   9 - - 9    
   % # Loans   0.26%0.00%0.00%0.26%   
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   784,830.80 - - - 784,830.80    
   % 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   784,830.80 1,327,228.60 - - 2,112,059.40    
   % Balance  0.09%0.15%0.00%0.00%0.24%   
 &n bsp; # Loans   7 9 - - 16    
   % # Loans  0.20%0.26%0.00%0.00%0.46%   
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  &nbs p;
            
            
Total ForeclosureTotal Bankruptcy and REO   
             
            
Note: Dates correspond to distribution dates.           
    Page 14 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10    
 Delinquency Report for November 25, 2003 Distribution   
     
 < FONT SIZE="-1" FACE="Times New Roman" COLOR=#3366FF>    
 Delinquency Report - Group 2 - Fix Group   
            
            
     <1 PAYMENT 1 PAYMENT 2 PAYMENTS 3+ PAYMENTS TOTAL   
DELINQUENT  Balance   63,778.52 - - 63,778.52    
   % Balance   0.06%0.00%0.00%0.06%   
   # Loans   3 - - 3 < /FONT>   
   % # Loans   0.54%0.00%0.00%0.54%    
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   40,416.43 54,602.99 - - 95,019.42    
   % Balance  0.04%0.05%0.00%0.00%0.09%   
   # Loans  < /TD> 1 2 - - 3    
   % # Loans  < /TD>0.18%0.36%0.00%0.00%0.54%   
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   40,416.43 118,381.51 - - 158,797.94    
   % Balance  0.04%0.11%0.00%0.00%0.14%   
   # Loans   1 5 - - 6    
   % # Loans  0.18%0.90%0.00%0.00%1.08%   
Not e: <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 15 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 REO Report for November 25, 2003 Distribution &nb sp; 
     
     
 REO Report - Mortgage Loans that Become REO During Current Distribution   
        & nbsp;   
            
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   
          
    &nb sp;       
    Page 16 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Ass et-Backed Bonds   
 Series 2003-10   
 Prepayment Report for November 25, 2003 Distribution   
     
     
 Prepayment Report - Voluntary Prepayments   
            
            
VOLUNTARY PREPAYMENTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Current          
 Number of Paid in Full Loans   6 45 51    
 Number of Repurchased Loans   - - -    
 Total Number of Loans Prepaid in Full   6 45 51    
            
 Paid in Full Balance   392,681.95 9,251,576.74 9,644,258.69    
 Repurchased Loans Balance   - - -    
 Curtailments Amount   7,032.97 1,015,344.79 1,022,377.76    
 Total Prepayment Amount   399,714.92 10,266,921.53 10,666,636.45    
            
 Cumulative          
 Number of Paid in Full Loans   7 61 68    
 Number of Repurchased Loans   1 - 1    
 Total Number of Loans Prepaid in Full   8 61 69    
             
 Paid in Full Balance   410,200.95 11,963,607.59 12,373,808.54    
 Repurchased Loans Balance   30,081.60 - 30,081.60    
 Curtailments Amount   7,831.82 1,122,539.17 1,130,370.99    
 Total Prepayment Amount   448,114.37 13,086,146.76 13,534,261.13    
            
    
 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 17 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Prepayment Report for November 25, 2003 Distribution   
     
     
 Prepayment Report - Voluntary Prepayments   
            
             
VOLUNTARY PREPAYMENT RATES    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
            
 SMM    0.36%1.16%1.07%   
 3 Months Avg SMM          
 12 Months Avg SMM          
 Avg SMM Since Cut-off   &nb sp;0.20%0.74%0.68%   
            
 CPR    4.24%13.06%12.12%   
 3 Months Avg CPR          
 12 Months Avg CPR          
&nbs p;Avg CPR Since Cut-off    2.40%8.52%7.86%   
            
 PSA    482.58%1101.16%1052.17%   
 3 Months Avg PSA Approximation          
 12 Months Avg PSA Approximation          
 Avg PSA Since Cut-off Approximation    305.01%770.03%733.76%   
            
            
            
  Group 1 - Adj          
  Group 2 - Fix          
            
            
CPR by GroupsTotal CPR   
           
            
PSA by GroupsTotal PSA   
            
            
    Page 18 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Prepayment Report for November 25, 2 003 Distribution   
     
     
 Prepayment Report - Voluntary Prepayments   
            
  Group 1 - Adj          
  Group 2 - Fix        &n bsp; 
    
CPR Avg since Cut-Off by Groups Total CPR Avg since Cut-Off    
           
   &n bsp;        
PSA Avg since Cut-Off by Groups Total PSA Avg since Cut-Off     
            
            
PREPAYMENT CALCULATION METHODOLOGY   
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)   
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)   
PSA Standard Prepayment Model: CPR/(0.02*min(30,W AS))   
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m)   
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)    
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))   
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)   
Weighted Average Seasoning (WAS)   
    
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.   
Dates correspond to distribution dates.   
            
    Page 19 of 26   © COPYRIGHT 2003 Deutsche Bank   
            
            
 Impac CMB Trust 2003-10  
 Collateralized Asset-Backed Bonds  
 Series 2003-10  
 Prepayment Detail Report for November 25, 2003 Distribution  
    
    
 Prepayment Detail Report - Loans Prepaid in Full During Current Distribution  
            
           
SUMMARY     LOAN GROUP     
     ;        
Total Loan Count = 51     Loan Group 1 = Group 1 - Adj Group  
Total Original Principal Balance = 9,851,275.00 Loan Group 2 = Group 2 - Fix Group  
Total Prepayment Amount = 9,644,258.69    
            
            
Loan Number  Original    Current State & Type Prepayment    
&Loan Principal Prepayment Prepayment Note LTV at & Origination   
Loan GroupStatus Balance AmountDateRateOriginationOriginal TermDate  
   
1100378044 1  650,000.00 650,000.00 Oct-07-035.875%CA - 76.47% Paid Off - 360 Aug-15-03  
1100379750 1  263,000.00 260,454.47 Oct-17-037.250%MI - 79.70% Paid Off - 360 Aug-15-03  
1100382528 1  236,000.00 236,000.00 Oct-06-036.250%FL - 80.00% Paid Off - 360 Aug-04-03  
1100385606 1  535,000.00 535,000.00 Oct-29-034.750%CA - 60.45% Paid Off - 360 Aug-22-03  
1100385636 1  840,000.00 837,681.30 Oct-08-034.250%CA - 80.00% Paid Off - 360 Aug-22-03  
1100387035 1  145,000.00 144,860.76 Oct-21- 036.990%MD - 60.42% Paid Off - 360 Sep-05-03  
1103021805 1  184,300.00 182,882.21 Oct-10-036.000%MI - 89.90% Paid Off - 360 Aug-15-03  
1103063600 1  346,150.00 346,150.00 Oct-17-033.500%FL - 70.00% Paid Off - 360 Sep-12-03  
1103065198 1  115,200.00 114,858.15 Oct-09-035.500%NV - 90.00% Paid Off - 360 Aug-27-03  
1103070022 1  457,350.00 457,350.00 Oct-27-037.125%CA - 83.92% Paid Off - 360 Sep-08-03  
  250,000.00 250,000.00 Oct-24-034.875%CA - 35.97% Paid Off - 360 Sep-10-03  
2500028759 1  170,800.00 169,833.68 Oct-06-035.125%CA - 78.17% Paid Off - 360 Aug-14-03  
2500030691 1  315,000.00 < /FONT> 314,663.24 Oct-29-035.625%CA - 70.00% Paid Off - 360 Aug-27-03  
2500031413 1  146,750.00 146,585.56 Oct-23-035.375%FL - 94.99% Paid Off - 360 Aug-25-03  
2503030685 1  462,000.00 462,000.00 Oct-03-034.125% WA - 49.68% Paid Off - 360 Sep-04-03  
2503031373 1  130,200.00 130,200.00 Oct-31-035.125%OH - 79.98% Paid Off - 360 Sep-19-03  
3900006053 1  152,100.00 146,776.98 Oct-14-035.750%CA - 90.00% Paid Off - 360 Apr-26-00  
3900006072 1  287,900.00 277,821.07 Oct-15-035.625%CA - 89.97% Paid Off - 360 Mar-31-00   ;
3900006080 1  114,400.00 111,087.33 Oct-09-038.750%CA - 75.02% Paid Off - 360 Mar-06-00  
3900006122 1  151,050.00 145,853.97 Oct-10-035.000%CA - 94.47% Paid Off - 360 Jun-28-00  
3900006138 1  171,900.00 160,645.42 Oct-21-036.000%CA - 90.00% Paid Off - 360 Apr-28-00  
3900006178 1  251,900.00 243,342.7 8 Oct-20-035.500%CA - 90.00% Paid Off - 360 Jul-18-00  
3900006190 1  205,600.00 201,321.96 Oct-01-037.625%WA - 80.00% Paid Off - 360 Jun-30-00  
3900006276 1  189,050.00 184,510.63 Oct-10-037.875%CA - 95.00% Paid Off - 360 Sep-29-00  
3900006278 1  122,000.00 119,642.50 Oct-30-037.125%SC - 89.05% Paid Off - 360 Sep-18-00  
3900006300 1  99,600.00 96,500.83 Oct-13-034.625%CO - 80.00% Paid Off - 360 Oct-11-00  
3900006313 1  146,000.00 140,985.88 Oct-29-036.125%CA - 81.56% Paid Off - 360 Oct-03-00  
3900006323 1  76,500.00 74,329.12 Oct-20-038.500%CA - 90.00% Paid Off - 360 Nov-13-00  
3900006324 1 < /TD> 157,600.00 154,141.89 Oct-09-036.125%OR - 95.00% Paid Off - 360 Oct-12-00  
3900006332 1  177,200.00 170,383.46 Oct-07-034.500%CA - 80.00% Paid Off - 360 Nov-06-00  
3900006335 1  94,500.00 91,836.55 Oct-15- 035.000%CA - 90.00% Paid Off - 360 Nov-20-00  
3900006438 1  255,000.00 247,340.41 Oct-02-035.500%CA - 75.00% Paid Off - 360 May-31-00  
3900006454 1  157,100.00 151,458.97 Oct-27-034.500%OR - 96.98% Paid Off - 360 Jun-23-00  
3900006475 1  70,750.00 69,525.93 Oct-21-037.875%TN - 94.97% Paid Off - 360 Jul-24-00  
3900006504 1  135,200.00 130,865.66 Oct-15-034.750%CO - 80.00% Paid Off - 360 Oct-20-00  
3900006540 1  91,000.00 85,544.69 Oct-10-039.500%CA - 70.00% Paid Off - 360 Jul-17-96  
3900006550 1  180,000.00 168,435.13 Oct-15-037.875%FL - 80.00% Paid Off - 360 Feb-21-97  
3900006568 1  117,000. 00 106,984.77 Oct-27-039.625%MD - 90.00% Paid Off - 360 Mar-17-97  
3900006668 1  167,300.00 156,426.83 Oct-21-037.800%CA - 77.81% Paid Off - 360 May-22-96  
3900006690 1  367,500.00 347,448.58 Oct-30-039.200%CA - 70.00% Paid Off - 360 Jul-30-96  
3900006694 1  57,000.00 53,945.41 Oct-13-039.850%WA - 75.00% Paid Off - 360 Jul-30-96  
3900006709 1  39,375.00 37,188.26 Oct-15-039.330%OH - 75.00% Paid Off - 360 Jul-30- 96  
3900006722 1  53,250.00 49,272.06 Oct-02-0310.550%TX - 75.00% Paid Off - 360 Jul-30-96  
3900006758 1  35,750.00 34,081.71 Oct-03-039.975%MA - 55.00% Paid Off - 360 Sep-19-96  
            
     Page 20 of 26   © COPYRIGHT 2003 Deutsche Bank  
 Impac CMB Trust 2003-10  
 Collateralized Asset-Backed Bonds  
 Series 2003-10  
 Prepayment Detail Report for November 25, 2003 Distribution  
    
    
 Prepayment Detail Report - Loans Prepaid in Full Durin g Current Distribution  
            
            
            
Loan Number  Original    Current State &     
&Loan Principal Prepayment Prepayment Note LTV at Original Origination   
Loan GroupStatus Balance AmountDateRateOriginationTermDate  
   
3900006861 1  60,000.00 55,358.59 Oct-17-038.750%MN - 80.00% Paid Off - 360 Feb-27-98  
1100383710 2  262,500.00 262,273.99 Oct-16-036.750%CA - 77.21% Paid Off - 360 Sep-11-03  
3900002808 2  34,000.00 32,933.02 Oct-01-0314.990%CA - 29.57% Paid Off - 300 May-01-98  
3900006108 2  24,500.00 21,312.82 Oct-24-0313.750%FL - 24.87% Paid Off - 180 May-31-00  
3900006172 2  15,000.00 13,652.64 Oct - -29-0316.250%IN - 15.63% Paid Off - 180 Jul-12-00  
3900006399 2  35,000.00 27,827.80 Oct-24-0313.990%FL - 44.03% Paid Off - 180 Apr-07-00  
3900006518 2  50,000.00 34,681.68 Oct-23-0313.750%CA - 20.83% Paid O ff - 180 Dec-05-95  
          
            
& nbsp;    Page 21 of 26   © COPYRIGHT 2003 Deutsche Bank  
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for November 25, 2003 Distribution   
     
     
 Realized Loss Report - Collateral   
             
            
COLLATERAL REALIZED LOSSES    GROU P 2 - FIX GROUP 1 - ADJ TOTAL   
            
 Current          
 Number of Loans Liquidated   - - -    
 Collateral Realized Loss/(Gain) Amount   - - -    
 Net Liquidation Proceeds   - - -    
            
           
 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;    
         &n bsp;  
Collateral Loss Severity Approximation by GroupsCollateral Loss Severity Approximation   
            
            
    Page 22 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for November 25, 2003 Distribution   
     
     
 Realized Loss Report - Collateral   
            
            
DEFAULT SPEEDS    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%   
            
 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    0.0 0%0.00%0.00%   
 3 Months Avg SDA Approximation          
 12 Months Avg SDA Approximation           
 Avg SDA Since Cut-off Approximation    0.00%0.00%0.00%   
            
 Loss Severity Approximation for Current Period   
 3 Months Avg Loss Severity Approximation   
 12 Months Avg Loss Severity Approximation   
 Avg Loss Severity Approximation Since Cut-off   
            
  Group 1 - Adj          
  Group 2 - Fix          
CDR by GroupsTotal CDR   
            
       &n bsp;    
SDA by GroupsTotal SDA   
            
            
    Page 23 of 26   © COPYRIGHT 2003 Deutsche Bank   
 Impac CMB Trust 2003-10   
 Coll ateralized Asset-Backed Bonds   
 Series 2003-10   
 Realized Loss Report for November 25, 2003 Distribution   
     
     
 < FONT FACE="Times New Roman" SIZE=+1>Realized Loss Report - Collateral   
            
  Group 1 - Adj          
  Group 2 - Fix          
& nbsp;           
CDR Avg since Cut-Off by Groups Total CDR Avg since Cut-Off   
            
            
SDA Avg since Cut-Off by Groups Total SDA Avg since Cut-Off    
            
            
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY   
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)   
Conditional Default Rate (CDR): 1-((1-MDR)^12)   
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))   
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) *.......*(1-MDRm)]^(1/months in period n,m)    
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)   
Average SDA Approximation over period between the nth month and mth month:   
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))   
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)   
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)   
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)   
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.   
Dates correspond to distribution dates.  
            
    Page 24 of 26   © COPYRIGHT 2003 Deutsche Bank   
            
            
 Impac CMB Trust 2003-10  
 Collateralized Asset-Backed Bonds  
 Series 2003-10  
 Realized Loss Detail Report for November 25, 2003 Distribution  
    
    
 Realized Loss Detail Report - Loans Liquidated During Current Distribution   ;
            
             
SUMMARY     LOAN GROUP     
            
Total Loan Count = 0     Loan Group 1 = Group 1 - Adj Group  
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.        < /TD>   
            
Loan Number  Original Prior   Current State &   &n bsp; 
&Loan Principal Principal Realized Note LTV at Original Origination   
Loan GroupStatus Balance BalanceLoss/(Gain)RateOriginationTermDate  
SPACE INTENTIONALLY LEFT BLANK  
         
            
     Page 25 of 26   © COPYRIGHT 2003 Deutsche Bank  
&nb sp;Impac CMB Trust 2003-10   
 Collateralized Asset-Backed Bonds   
 Series 2003-10    
 Triggers, Adj. Rate Cert. and Miscellaneous Report for November 25, 2003 Distribution   
     
     
 Triggers, Adj. Rate Cert. and Miscellaneous Report   
            
            
TRIGGER EVENTS    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
SPACE INTENTIONALLY LEFT BLANK   
            
   &nb sp;        
ADJUSTABLE RATE CERTIFICATE INFORMATION    GROUP 2 - FIX GROUP 1 - ADJ TOTAL   
    
 Current Periods Basis Risk Shortfall Carry Forward Amt    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   
    
 Total Derivative Payments    0.00 0.00 0.00    
            
 FXIMP310A1     0.00 0.00    
 FXIMP310C1     0.00 0.00    
 FXIMP310D1     0.00 0.00    
 FXIMP310E1     0.00 0.00    
 FXIMP310F1     0.00 0.00    
 FXIMP310H1     0.00 0.00    
 FXIMP310B1    0.00     
 FXIMP310G1    0.00  0.00  < /FONT>  
            
            
    Page 26 of 26   © COPYRIGHT 2003 Deutsche Bank   
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