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):  August 25, 2004
                            (Date of earliest event reported)

            Impac Secured Asset Corporation (as Depositor under the Pooling
          and Servicing Agreement, dated as May 1, 2004, providing for the
            issuance of Mortgage Pass-Through Certificates, Series 2004-2)
                   (Exact name of registrant as specified in charter)


                                       California
                    (State or Other Jurisdiction of Incorporation)

               333-85310-04                          33-0715871
          (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


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

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
(17 CFR 240.14a-12(b))

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01  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 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     August 25, 2004.

                                    Signatures

               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,
                                  in its capacity as Trustee under the
                                  Indenture Agreement on behalf of Impac
                                  Assets Corporation Inc., Registrant


          Date:  Aug 26, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of August 25, 2004.











			

< TD ALIGN="right">< TD ALIGN="right">< TD ALIGN="right">< TD ALIGN="right">< TD ALIGN="right">< TD ALIGN="right">< /TR>< TD ALIGN="right">< TR VALIGN="bottom">< TR VALIGN="bottom">< TD ALIGN="left">< TD ALIGN="right">

	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	August 25, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
&nb sp;
			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				14
			8.	Prepayment Report				15
			9.	Prepayment Detail Report				18
			10.	Realized Loss Report				19
			11.	Realized Loss Detail Report				22
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				23
			13.	Additional Certificate Report				24
				Total Number of Pages				24
			CONTACTS
	&n bsp;			Administrator: Alan Sueda
		& nbsp;		Direct Phone Number: (714)247-6315
				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: May 1, 2004
	Certificate Insurer(s):							Closing Date: May 28, 2004
								First Payment Date: June 25, 2004
	Servicer(s):		Impac Funding Corp. Master Servicer
			Countrywide Home Loans Serv Sub-Servicer
			GMAC Sub-Servicer
								Distribution Date: August 25, 2004
	Underwriter(s):		Countrywide Securities Underwriter					Record Date: August 24, 2004	< /FONT>
								July 30, 2004
& nbsp;
								&n bsp;
						Page 1 of 24					© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	REMIC 2
	Certificate Payment Report for August 25, 2004 Distribution
											< /FONT>
	Distribution in Dollars - Current Period
					Prior						Curre nt
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT,AS	57,124,000.00			56,815,596.54	77,647.98	2,295,329.87	2,372,977.85	-	-	54,520,266.67
A-2	AFC,SEQ,AS	13,944,000.00			13,944,000.00	46,933.18	-	46,933.18	-	-	13,944,000.00
A-3	AFC,SEQ,AS	40,997,000.00			40,997,000.00	170,650.01	-	170,650.01	-	-	40,997,000.00
A-4	AFC,SEQ,AS	26,259,000.00			26,259,000.00	127,246.74	-	127,246.74	-	-	26,259,000.00
A-5	STEP,AFC,SE	31,326,000.00			31,326,000.00	154,019.50	-	154,019.50	-	-	31,326,000.00
A-6	STEP,AFC,SE	18,850,000.00			18,850,000.00	90,165.83	-	90,165.83	-	-	18,850,000.00
M-1	MEZ,STEP,AF	5,000,000.00			5,000,000.00	24,583.33	-	24,583.33	-	-	5,000,000.00
M-2	MEZ,STEP,AF	4,000,000.00			4,000,000.00	9,666.67	-	9,666.67	-	-	4,000,000.00
M-3	MEZ,STEP,AF	2,500,000.00			2,500,000.00	8,020.83	-	8,020.83	-	-	2,500,000.00
C	SUB	-			-	-	-	-	-	-	-
P	SUB	100.00			100.00	17,200.71	-	17,200.71	-	-	100.00
R	R	-			-	-	-	-	-	-	-
Total		200,000,100.00			199,691,6 96.54	726,134.78	2,295,329.87	3,021,464.65	-	-	197,396,366.67
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	05/28/04	08/24/04		A-Act/360	45254TPG3	57,124,000.00	994.601158	1.359288	40.181533	41.540821	954.419625
A-2	05/28/04	08/24/04		A-30/360	45254TPH1	13,944,000.00	1,000.000000	3.365833	-	3.365833	1,000.000000
A-3	05/28/04	08/24/04		A-30/360	45254TPJ7	40,997,000.00	1,000.000000	4.162500	-	4.162500	1,000.000000
A-4	05/28/04	08/24/04		A-30/360	45254TPK4	26,259,000.00	1,000.000000	4.845833	-	4.845833	1,000.000000
A-5	05/28/04	08/24/04		A-30/360	45254TPL2	31,326,000.00	1,000.000000	4.916667	-	4.916667	1,000.000000
A-6	05/28/04	08/24/04		A-30/360	45254TPM0	18,850,000.00	1,000.000000	4.783333	-	4.783333	1,000.000000
M-1	05/28/04	08/24/04		A-30/360	45254TPN8	5,000,000.00	1,000.000000	4.916666	-	4.916666	1,000.000000
M-2	05/28/04	08/24/04		A-30/360	45254TPP3	4,000,000.00	1,000.000000	2.416668	-	2.416668	1,000.000000
M-3	05/28/04	08/24/04		A-30/360	45254TPQ1	2,500,000.00	1,000.000000	3.208332	-	3.208332	1,000.000000
C	05/28/04	08/24/04		A-30/360	45254TPR9	-	-	-	-	-	-
P	05/28/04	08/24/04		A-30/360	45254TPS7	100.00	1,000.000000	172,007.100000	-	172,007.100000	1,000.000000
R	05/28/04	08/24/04		A-30/360	45254TPT5	-	-	-	-	-	-
							Page 2 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	REMIC 2
	Certificate Payment Report for August 25, 2004 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	57,124,000.00		208,184.94		2,209,849.96	393,883.37	2,603,733.33	2,811,918.27	-	-	54,520,266.67
A-2	13,944,000.00		140,799.54		-	-	-	140,799.54	-	-	13,944,000.00
A-3	40,997,000.00		511,950.03		-	-	-	511,950.03	-	-	40,997,000.00
A-4	26,259,000.00		381,740.22		-	-	-	381,740.22	-	-	26,259,000.00
A-5	31,326,000.00		462,058.50		-	-	-	462,058.50	-	-	31,326,000.00
A-6	18,850,000.00		270,497.49		-	-	-	270,497.49	-	-	18,850,000.00
M-1	5,000,000.00		73,749.99		-	-	-	73,749. 99	-	-	5,000,000.00
M-2	4,000,000.00		27,072.22		-	-	-	27,072.22	-	-	4,000,000.00
M-3	2,500,000.00		22,791.67		-	-	-	22,791.67	-	-	2,500,000.00
C	-		500,052.98		-	-	-	500,052.98	-	-	-
P	100.00		17,200.71		-	-	-	17,200.71	-	-	100.00
R	-		-		-	-	-	-	-	-	-
Total	200,000,100.00		2,616,098.29		2,209,849.96	393,883.37	2,603,733.33	5,219,831.62	-	-	197,396,366.67
	Interest Detail				&nb sp;
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	1.64000%	56,815,596.54			77,647.98	-	-	-	77,647.98	77,647.98	-
A-2	4.03900%	13,944,000.00			46,933.18	-	-	-	46,933.18	46,933.18	-
A-3	4.99500%	40,997,000.00			170,650.01	-	-	-	170,650.01	170,650.01	-
A-4	5.81500%	26,259,000.00			127,246.74	-	-	-	127,246.74	127,246.74	-
A-5	5.90000%	31,326,000.00			154,019.50	-	-	-	154,019.50	154,019.50	-
A-6	5.74000%	18,850,000.00	90,165.83	-	-	-	90,165.83	90,165.83	-
M-1	5.90000%	5,000,000.00			24,583.33	-	-	-	24,583.33	24,583.33	-
M-2	2.90000%	4,000,000.00			9,666.67	-	-	-	9,666.67	9,666.67	-
M-3	3.85000%	2,500,000.00			8,020.83	-	-	-	8,020.83	8,020.83	-
C	2.07825%	-			345,844.04	-	-	-	345,844.04	-	345,844.04
P		100.00			-	-	-	-	17,200.71	17,200.71	-
R		-			-	-	-	-	-	-	-
Total		199,691,696.54			1,054,778.11	-	-	-	1,071,978.82	726,134.78	345,844.04
							Page 3 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for August 25, 2004 Distribution
	Distribution in Dollars - Current Period
					Prior	< /TD>					Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
REMIC1		200,000,100.00			199,691,696.54	726,134.78	2,295,329.87	3,021,464.65	-	-	197,396,366.67
Total		200,000,100.00			199,691,696.54	726,134.78	2,295,329.87	3,021,464.65	-	-	197,396,366.67
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
REMIC1	05/28/04	08/24/04		A-30/360		200,000,100.00	998.457983	3.630672	11.476644	15.107316	986.981340
							Page 4 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	REMIC I
	Certificate Payment Report for August 25, 2004 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5) =(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
REMIC1	200,000,100.00		2,616,098.29		-	2,603,733.33	2,603,733.33	5,219,831.62	-	-	197,396,366.67
Total	200,000,100.00		2,616,098.29		-	2,603,733.33	2,603,733.33	5,219,831.62	-	-	197,396,366.67
							< /TD>
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
REMIC1	6.33839%	199,691,696.54			-	-	-	-	-	726,134.78	-
									< /TD>
Total		199,691,696.54			-	-	-	-	-	726,1 34.78	-
							Page 5 of 24				© COPYRIGHT 2004 Deutsche Bank
&nb sp;	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
									&nb sp;
	Collection Account Report for August 25, 2004 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal Collections							1,949,485.84
	Other Principal Deposits							0.00
	TOTAL NET PRINCIPAL				< /TD>			1,949,485.84
	Interest Collections							1,091,544.55
	Interest Withdrawals							0.00
	Interest Fees							(19,565.73)
	TOTAL NET I NTEREST							1,071,978.82
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							3,021,464.66
									< /FONT>
PRINCIPAL - COLLECTIONS								TOTAL			;
	Scheduled Principal							175 ,388.74
	Curtailments							12,760.66
	Prepayments In Full							1,761,336.44
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Principal							0.00
	Delinquent Principal							(119,532.68)
	Total Realized Loss Of Principal							0.00
	Principal Advanced							119,532. 68
										&nb sp;
	TOTAL PRINCIPAL COLLECTED							1,949,485.84
				Page 6 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Collection Account Report for August 25 , 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
							< /TD>
PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS								TOTAL
	Scheduled Interest							1,105,914.14
	Repurchases/Substitutions							0.00		&n bsp;
	Liquidation Interest							0.00
	Insurance Interest							0.00
	Other Interest							0.00
	Prepayment Interest Shortfalls							(4,752.10)
	Delinquent Interest							(753,883.87)
	Interest Realized Losses							0.00
	Compensating Interest							4,752.10
	Civil Relief Act Shortfalls							0.00
	Prepayment Premiums							17,200.71
	Interest Advanced							722,313.57
	TOTAL INTEREST COLLECTED							1,091,544.55
				Page 7 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Collection Account Report for August 25, 2004 Distribution
	Collection Account Report
INTEREST - WITHDR AWALS								TOTAL
	Credit Risk Manager Fees							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
				&n bsp;
INTEREST - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - FEES								TOTAL
	Radian PMI Fee							2,377.60
	Trustee Fee Amount							2,163.33
	Retained Spread							0.00
	Current Servicing Fees							46,595.10
	Delinquent Servicing Fees							(31,570.30)		< /FONT>
	TOTAL INTEREST OTHER FEES							19,565.73
	&nbs p;
				Page 8 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for August 25, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES								TOTAL
	Overcollateralization Amount							345,844.03
	Excess Overcollateralized Amount							0.00
	Overcollateralization Release Amount							0.00
	Overcollateralization Deficiency Amount							1,300,000.65
	Overcollateralization Target Amount							1,300,000.65
				Page 9 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Throug h Certificates
	Collateral Report for August 25, 2004 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							778
	Prior							994
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(11)
	Repurchases							-
	Liquidations							-
	Current							983
	Principal Balance:
	Original							159,954,948.80
	Prior							199,693,302.83
	Prefunding							-
	Scheduled Principal							(175,388.74)
	Partial and Full Voluntary Prepayments							(1,774,097.10)
	Repurchases							-
	Liquidations							-
	Current< /FONT>							197,743,816.99
PREFUNDING							TOTAL
	Prefund Amount Deposited							(1,606.29)
	Amount of Funds Transferred							0.00
	Prefund Amount Remaining							(1,606.29)
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 10 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Collateral Report for August 25, 2004 Distribution
	Collateral Report
			< /FONT>
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							6.570520%
	Weighted Average Coupon Prior							6.645956%
	Weighted Average Coupon Current							6.645676%
	Weighted Average Months to Maturity Original							352
	Weighted Average Months to Maturity Pr ior							351
	Weighted Average Months to Maturity Current							350
	Weighted Avg Remaining Amortization Term Original						352
	Weighted Avg Remaining Amortization Term Prior							351
	Weighted Avg Remaining Amortization Term Current							350
	Weighted Average Seasoning Original							1.38
	Weighted Average Seasoning Prior							2.28
	Weighted Average Seasoning Current							3.28
Note: Original information refers to deal issue.
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				P age 11 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Collateral Report for August 25, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							0.000%
	Weighted Average Margin Prior							0.000%
	Weighted Average Margin Current							0.000%
	Weighted Average Max Rate Original						0.000%
	Weighted Average Max Rate Prior							0.000%
	Weighted Average Max Rate Current							0.000%
	Weighted Average Min Rate Original							0.000%
	Weighted Average Min Rate Prior							0.000%
	Weighted Average Min Rate Current							0.000%
	Weighted Average Cap Up Original							0.000%
	Weighted Average Cap Up Prior							0.000%
	Weighted Average Cap Up Current							0.000%
	Weighted Average Cap Down Original							0.000%
	Weighted Average Cap Down Prior			;				0.000%
	Weighted Average Cap Down Current							0.000%
							&n bsp;
Note: Original information refers to deal issue.
										&nbs p;
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							15,024.81
	Delinquent Servicing Fees							31,570.30
	TOTAL SERVICING FEES							46,595.11
	Total Servicing Fees							46,595.11
	Compensating Interest							4,752.10
	Delinquent Servicing Fees							(31,570.30)
	COLLECTED SERVICING FEES							19,776.91
	Current PPIS							(4,752.10)
	Current Net PPIS							0.00
< /TD>	Total Advanced Principal For Current Payment Date							119,532.68
	Total Advanced Intere st For Current Payment Date							722,313.57
	TOTAL ADVANCES FOR CURRENT PERIOD	& nbsp;						841,846.25
ADDITIONAL COLLATERAL INFORMATION								TOT AL
	Weighted Average Mortgage Rate						6.6457%
	Weighted Average Net Mortgage Rate							6.3384%
										;
				Page 12 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Delinquency Report for August 25, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			19,488,724.46	396,870.00	357,214.82	20,242,809.28
		% Balance			9.86%	0.20%	0.18%	10.24%
		# Loans			120	3	1	124
		% # Loans			12.21%	0.31%	0.10%	12.61%
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		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	19,488,724.46	396,870.00	357,214.82	< FONT SIZE="-1" FACE="Times New Roman"> 20,242,809.28
		% Balance		0.00%	9.86%	0.20%	0.18%	10.24%
		# Loans		-	120	3	1	124
		% # Loans		0.00%	12.21%	0.31%	0.10%	12.61%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	REO Report for August 25, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
								< /TD>
SUMMARY				LOAN GROUP
Total Loan Count = 0	Loan Group 1 = Group 1; REO Book Value = 000.00
Total Original Principal Balance = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 14 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							11
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							11
	Paid in Full Balance							1,761,336.44
	Repurchased Loans Balance							-
	Curtailments Amount							12,760.66
	Total Prepayment Amount							1,774,097.10
	Cumulative
	Number of Paid in Full Loans							13
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							13
	Paid in Full Balance							1,935,064.52
	Repurchased Loans Balance							-
	Curtailments Amount							(71,058.59)
	Total Prepayment Amount							1,864,005.93
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
										< /TD>
				Page 15 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	;
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							0.89%
	3 Months Avg SMM							0.31%
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.31%
	CPR							10.16%
	3 Months Avg CPR							3.68%
	12 Months Avg CPR
	Avg CPR Since Cut-off							3.68%
										< FONT SIZE="-1" FACE="Arial">
	PSA							1549.51%
	3 Months Avg PSA Approximation							796.35%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							796.35%
							&nbs p;
									&nb sp;
CPR by Groups					Total CPR					& nbsp;
PSA by Groups					Total PSA
				Page 16 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Report for August 25, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	&n bsp;
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Of f
										& nbsp;
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 Pr epayment 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/(0.002*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 prepaym ents and repurchases.
Dates correspond to distribution dates.
				Page 17 of 24				© COPYRIGHT 2004 Deutsche Bank
									< /TD>
&nbs p;	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for August 25, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP				;
Total Loan Count = 11						Loan Group 1 = Group 1
Total Original Principal Balance = 1,766,574.00
Total Prepayment Amount = 1,761,336.44
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
1103143829 1			192,500.00	192,500.00	Jul-07-04	5.875%	CA - 70.00%	Paid Off - 360	May-25-04
1103153378 1			200,000.00	199,178.35	Jul-07-04	5.875%	NY - 66.67%	Paid Off - 360	Mar-31-04
1103155566 1			234,500.00	232,043.10	Jul-23-04	5.875%	CA - 67.98%	Paid Off - 180	Apr-26-04
1103161311 1			80,000.00	79,797.22	Jul-16-04	6.875%	CA - 80.00%	Paid Off - 360	May-21-04
1103169792 1			141,600.00	141,353.81	Jul-20-04	8.750%	FL - 80.00%	Paid Off - 360	May-04-04
1103176072 1			59,430.00	59,329.86	Jul-09-04	6.875%	OH - 70.00%	Paid Off - 360	May-06-04
1103182756 1			150,000.00	149,759.38	Jul-06-04	7.125%	FL - 95.00%	Paid Off - 360	May-25-04
1103182853 1			211,500.00	211,026.16	Jul-29-04	7.500%	VA - 90.00%	Paid Off - 360	May-24-04
1103182883 1			55,044.00	54,955.70	Jul-12-04	7.125%	OH - 100.00%	Paid Off - 360	May-24-04
1103188175 1			102,000.00	101,862.38	Jul-12-04	7.990%	HI - 75.00%	Paid Off - 360	May-24-04
2503056524 1			340,000.00	339,530.48	Jul-23-04	7.875%	FL - 95.00%	Paid Off - 360	May-03-04
					Page 18 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Cor p. 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 25, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES								TOTAL
	Current									< /FONT>
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
	Cumulative
	Number of Loans Liquidated							-
	Collateral Realized Loss/(Gain) Amount							-
	Net Liquidation Proceeds							-
									< FONT SIZE="-1" FACE="Arial">
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
SPACE INTENTIONALLY LEFT BLANK
							3 Months Moving Average
	< /TD>
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 19 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Report for August 25, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR							0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%
		;
	CDR							0.00%
	3 Months Avg CDR							0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%	& nbsp;
	SDA							0.00%
	3 Months Avg SDA Approximation							0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							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
CDR by Groups					Total CDR
SDA by Groups					Total SDA
									< /FONT>
				Page 20 of 24				© COPYRIGHT 2004 Deutsche Bank
&nb sp;	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
									&nb sp;
	Realized Loss Report for August 25, 2004 Distribution
	Realized Loss Report - Collateral
							;
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											< /TD>
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)))									< /FONT>
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: Defaul t 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	& nbsp;			© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for August 25, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Group 1
Total Prior Principal Balance = 0.00
Total Current Realized Loss Amount = 0.00
Total Revis ions Amount = 0.00
Total Realized Loss Amount = 0.00
Total Ne t Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
		&nbs p;
Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
					< FONT FACE="Times New Roman" SIZE=-1>Page 22 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 25, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
	Optional Termination Date Reached							No
	Trigger Event Occured							No
	Step Down Date Reached							No
ADJUSTABLE RATE CERTIFICATE INFORMATION							TOTAL
SPACE INTENTIONALLY LEFT BLANK
				;
ADDITIONAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 23 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac Secured Assets Corp. 2004-2
	Mortgage Pass-Through Certificates
	Additional Certificate Report for August 25, 2004 Distribution
	Additional Certificate Report
	CLASS							Net PPIS & Other Int. Shortfalls
	A-1							0.00
	A-2							0.00
	A-3							0.00
	A-4							0.00
	A-5							0.00
	A-6							0.00
	M-1							0.00
	M-2							0.00			< /TD>
	M-3							0.00
	C							0.00
	P							0.00
				Page 24 of 24				© COPYRIGHT 2004 Deutsche Bank