8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) April 30, 2007

Impac Secured Assets Trust 2007-3

(Exact name of issuing entity as specified in its charter)

Impac Secured Assets Corp.

(Exact name of depositor as specified in its charter)

Impac Funding Corporation

(Exact name of sponsor as specified in its charter)

CALIFORNIA	333-139462-02	33-0715871
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
19500 Jamboree Road Irvine, California		92612
(Address of Principal Executive Offices)		(Zip Code)

Registrants telephone number, including area code, is (949) 475-3600

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):

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

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

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

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

2

Item 8.01. Other Events.

On April 30, 2007, a single series of certificates, entitled Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3 (the “Certificates”), were issued pursuant to a Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Agreement”) among Impac Secured Assets Corp., as depositor, Impac Funding Corporation, as master servicer, and Deutsche Bank National Trust Company, as trustee (the “Trustee”).

The tables annexed as Exhibit 99.1 hereto describe characteristics of the Mortgage Pool as of the Cut-off Date.

3

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits:

Exhibit No. Description

      99.1 Characteristics of the Mortgage Pool as of April 1, 2007, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.

4

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized.

IMPAC SECURED ASSETS CORP.
By:	/s/ Gretchen Verdugo
	Name:Gretchen Verdugo
	Title:EVP, CFO

Dated: May 18, 2007

5

EXHIBIT INDEX

Exhibit Number Description

99.1 Characteristics of the Mortgage Pool as of April 1, 2007, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2007-3.

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EX-99.1

THE MORTGAGE POOL

Mortgage Loan Programs

Loan Programs	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
15YR FIXED	$	6,637,054.50		23		0.92	%	$	288,567.59		6.314	%		180		723		57.43	%
15YR FIXED IO		127,000.00		1		0.02			127,000.00		11.550			176		687		100.00
20YR FIXED		74,717.88		1		0.01			74,717.88		12.650			236		729		95.00
25YR FIXED		459,397.60		1		0.06			459,397.60		6.625			299		775		59.06
30YR FIXED		80,061,872.33		241		11.13			332,206.94		6.398			359		730		65.66
30YR FIXED IO		63,084,868.26		194		8.77			325,179.73		6.625			359		721		67.61
30/15 FIXED BAL		22,526,032.77		309		3.13			72,899.78		12.392			178		679		95.69
30/15 FIXED BAL IO		548,149.71		7		0.08			78,307.10		12.548			178		707		96.20
40/30 FIXED BAL		8,242,567.10		24		1.15			343,440.30		6.843			360		683		75.04
2/6 LIBOR		2,682,657.90		11		0.37			243,877.99		8.412			359		650		81.31
2/6 LIBOR 40/30 BAL		2,870,303.97		10		0.40			287,030.40		9.155			359		635		87.34
2/6 LIBOR IO		2,018,800.00		7		0.28			288,400.00		7.321			359		680		76.07
3/6 LIBOR		2,910,409.67		9		0.40			323,378.85		6.706			359		689		71.53
3/6 LIBOR 40/30 BAL		4,017,375.74		13		0.56			309,028.90		7.544			359		676		87.37
3/6 LIBOR IO		27,360,050.00		67		3.80			408,358.96		6.207			359		730		69.50
5/1 LIBOR IO		897,580.00		2		0.12			448,790.00		6.872			358		653		72.17
5/6 LIBOR		57,047,877.89		211		7.93			270,369.09		7.519			359		696		78.64
5/6 LIBOR 40/30 BAL		22,683,131.73		86		3.15			263,757.35		7.698			359		682		86.13
5/6 LIBOR IO		391,946,699.12		1,094		54.48			358,269.38		6.875			360		704		75.36
7/6 LIBOR		5,524,816.55		17		0.77			324,989.21		6.845			360		722		67.89
7/6 LIBOR 40/30 BAL		298,199.45		1		0.04			298,199.45		6.750			358		760		80.00
7/6 LIBOR IO		16,966,819.31		45		2.36			377,040.43		6.488			360		719		68.97
10/1 CMT IO		500,931.27		1		0.07			500,931.27		6.625			358		799		50.10
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

7

Mortgage Loan Principal Balances Outstanding

Range of Mortgage Loan Principal Balances Outstanding ($)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
0.01 - 250,000.00	$	161,473,843.93		1,129		22.44	%	$	143,023.78		7.989	%		333		696		77.86	%
250,000.01 - 300,000.00		65,828,052.80		237		9.15			277,755.50		6.889			358		703		72.86
300,000.01 - 350,000.00		60,687,159.55		187		8.43			324,530.26		7.059			358		696		76.14
350,000.01 - 400,000.00		59,074,390.65		157		8.21			376,270.00		6.940			356		705		75.20
400,000.01 - 450,000.00		66,076,453.91		155		9.18			426,299.70		6.748			358		709		74.73
450,000.01 - 500,000.00		85,770,133.33		180		11.92			476,500.74		6.742			358		712		75.13
500,000.01 - 550,000.00		49,413,815.73		94		6.87			525,678.89		6.658			360		715		72.97
550,000.01 - 600,000.00		39,355,492.01		68		5.47			578,757.24		6.675			357		716		70.26
600,000.01 - 650,000.00		26,545,580.03		42		3.69			632,037.62		6.445			355		725		71.45
650,000.01 - 700,000.00		19,698,118.36		29		2.74			679,245.46		6.473			353		714		71.12
700,000.01 - 750,000.00		24,267,130.12		33		3.37			735,367.58		6.685			360		710		72.17
750,000.01 - 800,000.00		7,846,906.24		10		1.09			784,690.62		6.829			360		727		69.07
800,000.01 - 850,000.00		9,180,417.16		11		1.28			834,583.38		6.536			359		720		72.35
850,000.01 - 900,000.00		14,057,582.00		16		1.95			878,598.88		6.249			349		719		70.73
900,000.01 - 950,000.00		5,635,500.00		6		0.78			939,250.00		6.915			360		725		71.75
950,000.01 - 1,000,000.00		11,783,981.62		12		1.64			981,998.47		6.687			359		726		64.02
1,000,000.01 - 1,050,000.00		1,031,800.00		1		0.14			1,031,800.00		6.375			360		663		76.43
1,050,000.01 - 1,150,000.00		3,369,035.70		3		0.47			1,123,011.90		6.875			360		686		76.66
1,200,000.01 - 1,300,000.00		1,225,000.00		1		0.17			1,225,000.00		6.750			360		661		69.01
1,300,000.01 - 1,400,000.00		1,327,819.61		1		0.18			1,327,819.61		7.000			358		665		70.00
1,800,000.01 +		5,839,100.00		3		0.81			1,946,366.67		6.088			359		732		66.81
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Original Loan-to-Value Ratios

Range of Original Loan-to-Value Ratios (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
10.01 - 15.00	$	76,732.40		1		0.01	%	$	76,732.40		5.875	%		179		663		14.00	%
15.01 - 20.00		198,000.00		2		0.03			99,000.00		7.003			360		696		16.98
20.01 - 25.00		1,935,300.74		10		0.27			193,530.07		6.254			331		701		22.25
25.01 - 30.00		4,727,367.88		15		0.66			315,157.86		6.074			354		748		28.18
30.01 - 35.00		5,752,669.92		22		0.80			261,485.00		6.061			341		759		33.09
35.01 - 40.00		7,921,705.38		27		1.10			293,396.50		6.121			357		750		38.10
40.01 - 45.00		9,218,492.80		27		1.28			341,425.66		6.064			354		727		42.77
45.01 - 50.00		15,733,600.74		51		2.19			308,501.98		6.206			346		730		47.86
50.01 - 55.00		25,440,955.55		68		3.54			374,131.70		6.191			360		735		52.54
55.01 - 60.00		36,282,995.55		96		5.04			377,947.87		6.139			355		728		58.18
60.01 - 65.00		30,218,913.72		82		4.20			368,523.34		6.229			355		723		63.40
65.01 - 70.00		93,154,222.66		242		12.95			384,934.80		6.376			358		714		68.84
70.01 - 75.00		105,028,129.22		296		14.60			354,824.76		6.717			358		705		74.34
75.01 - 80.00		268,141,139.89		761		37.27			352,353.67		6.936			359		700		79.65
80.01 - 85.00		12,950,278.43		49		1.80			264,291.40		7.884			356		671		84.54
85.01 - 90.00		38,168,039.85		194		5.30			196,742.47		8.797			341		690		89.75
90.01 - 95.00		44,807,485.96		283		6.23			158,330.34		9.415			318		696		94.77
95.01 +		19,731,282.06		149		2.74			132,424.71		9.818			278		688		99.81
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

8

Mortgage Rates

Range of Mortgage Rates (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
5.000 - 5.499	$	7,020,241.26		20		0.98	%	$	351,012.06		5.348	%		342		747		63.07	%
5.500 - 5.999		116,042,994.66		273		16.13			425,065.91		5.780			356		741		66.20
6.000 - 6.499		178,622,596.87		469		24.83			380,858.42		6.221			358		723		67.13
6.500 - 6.999		149,713,909.46		443		20.81			337,954.65		6.708			357		699		74.19
7.000 - 7.499		81,836,393.88		248		11.37			329,985.46		7.185			359		693		78.57
7.500 - 7.999		72,990,557.88		249		10.14			293,134.77		7.731			359		682		80.02
8.000 - 8.499		42,361,901.48		158		5.89			268,113.30		8.205			359		686		83.07
8.500 - 8.999		23,864,474.64		94		3.32			253,877.39		8.720			359		681		88.82
9.000 - 9.499		6,476,931.46		27		0.90			239,886.35		9.153			357		680		90.06
9.500 - 9.999		7,663,332.30		29		1.07			264,252.84		9.766			360		675		89.28
10.000 - 10.499		2,977,427.47		13		0.41			229,032.88		10.210			331		680		91.86
10.500 - 10.999		4,070,375.21		26		0.57			156,552.89		10.748			308		675		91.40
11.000 - 11.499		2,956,559.32		23		0.41			128,546.06		11.220			287		686		93.04
11.500 - 11.999		5,452,525.03		58		0.76			94,009.05		11.777			229		675		95.62
12.000 - 12.499		6,484,620.07		79		0.90			82,083.80		12.291			191		683		94.54
12.500 - 12.999		6,439,462.67		89		0.90			72,353.51		12.732			187		666		95.64
13.000 - 13.499		1,811,531.19		30		0.25			60,384.37		13.172			187		677		94.65
13.500 - 13.999		1,521,621.15		29		0.21			52,469.69		13.685			177		676		94.80
14.000 - 14.499		1,042,537.14		14		0.14			74,466.94		14.354			178		653		93.88
14.500 - 14.999		137,319.61		4		0.02			34,329.90		14.603			179		654		93.09
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Types of Mortgaged Properties

Property Type	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
Two Family	$	36,590,582.56		131		5.09	%	$	279,317.42		7.653	%		343		699		75.30	%
Three Family		15,047,850.79		49		2.09			307,099.00		7.930			335		717		74.06
Four Family		8,129,013.00		27		1.13			301,074.56		8.508			341		721		78.62
Condominium		66,517,190.49		309		9.25			215,265.99		7.390			349		704		77.82
Planned Unit Development (detached)		77,487,280.11		215		10.77			360,405.95		6.777			355		721		73.43
Hi Rise Condo		9,856,019.05		36		1.37			273,778.31		7.633			342		717		76.10
Planned Unit Development (attached)		45,079,546.20		165		6.27			273,209.37		7.395			355		697		79.94
Single Family Residence		458,698,092.81		1,430		63.75			320,767.90		6.868			353		706		73.27
Townhouse		2,081,737.74		13		0.29			160,133.67		7.993			323		694		77.65
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

9

Occupancy Types⁽¹⁾

Occupancy Type	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
Investor	$	143,836,359.17		701		19.99	%	$	205,187.39		7.710	%		345		710		74.57	%
Owner Occupied		552,864,335.88		1,592		76.84			347,276.59		6.849			354		706		74.24
Second Home		22,786,617.70		82		3.17			277,885.58		7.245			356		719		75.88
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

(1) Based on representations by the Mortgagors at the time of origination of the Mortgage Loans.

Loan Purposes

Loan Purpose	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
Refinance - Cashout	$	278,677,438.09		921		38.73	%	$	302,581.37		6.897	%		353		702		70.20	%
Purchase		255,956,805.88		974		35.57			262,789.33		7.598			348		706		81.70
Refinance - No Cashout		184,853,068.78		480		25.69			385,110.56		6.458			355		715		70.44
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Loan Documentation Types

Loan Documentation Type	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
Alternative	$	,290,663.01		6		0.32	%	$	381,777.17		7.192	%		359		746		79.26	%
Express No Doc		27,997,014.78		118		3.89			237,262.84		7.524			358		701		76.63
Express No Doc Verified Assets		2,571,075.80		9		0.36			285,675.09		7.321			360		718		69.60
Express Non-Verified Assets		21,717,416.86		67		3.02			324,140.55		7.411			356		688		73.30
Express Verified Assets		87,448,476.00		278		12.15			314,562.86		7.274			357		696		79.33
FISA		1,019,994.86		6		0.14			169,999.14		6.693			360		689		58.19
Full		136,800,339.02		399		19.01			342,857.99		6.281			354		735		69.74
NINA		315,400.00		1		0.04			315,400.00		10.125			359		638		95.00
SISA		49,709,069.94		168		6.91			295,887.32		7.205			359		696		74.85
Stated		389,617,862.48		1,323		54.15			294,495.74		7.162			348		702		74.72
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

10

Remaining Terms to Stated Maturity

Range of Remaining Terms (months)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
121 - 180	$	29,838,236.98		340		4.15	%	$	87,759.52		11.039	%		178		689		87.21	%
181 - 240		74,717.88		1		0.01			74,717.88		12.650			236		729		95.00
241 - 360		689,574,357.89		2,034		95.84			339,023.77		6.860			359		708		73.80
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Credit Bureau Risk Scores⁽¹⁾

Range of Credit Bureau Risk Scores	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
0 - 500	$	1,272,160.96		7		0.18	%	$	181,737.28		7.569	%		359		0		71.07	%
581 - 600		666,663.69		3		0.09			222,221.23		8.181			355		593		80.35
601 - 620		10,249,056.63		40		1.42			256,226.42		7.969			357		613		74.53
621 - 640		52,031,220.68		199		7.23			261,463.42		7.638			353		631		76.98
641 - 660		74,032,170.63		306		10.29			241,935.20		7.765			348		650		77.23
661 - 680		89,340,230.78		320		12.42			279,188.22		7.613			346		670		78.86
681 - 700		122,404,946.07		399		17.01			306,779.31		7.090			349		690		77.43
701 - 720		102,354,220.13		319		14.23			320,859.62		6.848			354		709		74.64
721 - 740		74,918,241.35		237		10.41			316,110.72		6.812			352		730		74.55
741 - 760		62,283,925.38		203		8.66			306,817.37		6.656			356		751		71.31
761 - 780		70,032,779.53		180		9.73			389,071.00		6.363			357		772		67.29
781 - 800		43,534,392.50		119		6.05			365,835.23		6.197			358		790		65.91
801 +		16,367,304.42		43		2.27			380,634.99		6.252			354		805		66.92
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

______________________

(1) The Credit Bureau Risk Scores referenced in this table with respect to substantially all of the Mortgage Loans were obtained by the respective originators from one or more credit reporting agencies, and were determined at the time of origination.

11

Gross Margins

Range of Gross Margins (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
2.250 - 2.499	$	6,614,668.29		20		0.92	%	$	330,733.41		7.238	%		359		696		74.22	%
2.500 - 2.749		22,481,168.16		63		3.12			356,843.94		6.785			359		696		75.24
2.750 - 2.999		51,475,182.36		160		7.15			321,719.89		6.947			359		694		78.07
3.000 - 3.249		290,585,491.94		778		40.39			373,503.20		6.556			360		712		71.71
3.250 - 3.499		1,738,899.09		7		0.24			248,414.16		7.110			359		729		83.65
3.500 - 3.749		29,340,267.70		92		4.08			318,915.95		7.296			359		718		80.91
3.750 - 3.999		44,626,423.72		139		6.20			321,053.41		7.147			360		701		81.83
4.000 - 4.249		20,871,032.60		71		2.90			293,958.21		8.543			360		676		90.96
4.250 - 4.499		3,103,590.00		13		0.43			238,737.69		9.253			360		641		90.56
4.500 - 4.749		2,831,535.27		10		0.39			283,153.53		8.262			359		679		81.87
4.750 - 4.999		538,750.00		2		0.07			269,375.00		9.227			360		636		92.13
5.000 - 5.249		51,693,031.35		180		7.18			287,183.51		7.714			359		687		78.86
5.250 - 5.499		704,000.00		2		0.10			352,000.00		6.566			360		708		80.00
5.500 - 5.749		3,946,000.70		14		0.55			281,857.19		8.798			359		628		85.77
5.750 - 5.999		687,393.00		2		0.10			343,696.50		5.811			359		783		66.43
6.000 - 6.249		501,500.00		2		0.07			250,750.00		7.996			360		647		65.90
6.250 - 6.499		224,696.23		1		0.03			224,696.23		9.800			359		673		84.99
6.500 - 6.749		4,687,793.62		14		0.65			334,842.40		8.335			359		650		83.29
6.750 - 6.999		454,500.00		1		0.06			454,500.00		7.950			360		691		90.00
7.000 - 7.249		383,836.36		2		0.05			191,918.18		9.438			358		640		80.00
7.500 - 7.749		235,892.21		1		0.03			235,892.21		9.850			359		613		80.00
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

12

Geographic Distribution

Geographic Distribution	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
Alabama	$	1,057,211.47		7		0.15	%	$	151,030.21		8.025	%		325		769		87.64	%
Arizona		19,473,308.87		83		2.71			234,618.18		7.582			352		700		76.64
Arkansas		1,252,210.00		4		0.17			313,052.50		9.463			360		708		86.29
California		412,448,849.70		1,109		57.33			371,910.59		6.651			354		712		71.41
Colorado		15,395,684.20		58		2.14			265,442.83		6.889			352		730		73.08
Connecticut		9,509,747.85		22		1.32			432,261.27		7.103			360		716		76.98
Delaware		299,974.75		2		0.04			149,987.38		7.544			331		741		82.40
District of Columbia		585,480.00		2		0.08			292,740.00		8.245			360		676		81.74
Florida		96,013,586.98		417		13.34			230,248.41		7.735			351		690		79.46
Georgia		3,820,327.50		20		0.53			191,016.38		7.879			358		680		90.06
Hawaii		18,418,498.68		45		2.56			409,299.97		6.796			355		692		73.22
Idaho		1,326,007.13		6		0.18			221,001.19		7.041			350		739		80.90
Illinois		17,215,360.78		79		2.39			217,915.96		8.298			347		694		82.33
Indiana		1,940,657.28		10		0.27			194,065.73		9.140			359		677		88.67
Kentucky		149,000.00		1		0.02			149,000.00		7.500			360		694		100.00
Louisiana		160,000.00		1		0.02			160,000.00		7.370			360		790		80.00
Maine		257,325.00		3		0.04			85,775.00		7.535			360		714		77.54
Maryland		12,568,285.48		50		1.75			251,365.71		7.425			347		700		79.59
Massachusetts		4,071,173.16		13		0.57			313,167.17		7.667			359		688		74.27
Michigan		2,850,631.26		17		0.40			167,684.19		7.534			355		681		76.71
Minnesota		3,739,221.98		23		0.52			162,574.87		8.174			338		715		84.37
Mississippi		278,150.00		2		0.04			139,075.00		6.625			360		726		74.99
Missouri		869,926.48		5		0.12			173,985.30		7.009			342		738		76.81
Montana		480,612.51		2		0.07			240,306.26		7.131			359		704		80.00
Nevada		13,220,581.84		58		1.84			227,941.07		7.454			351		687		78.14
New Hampshire		656,098.02		3		0.09			218,699.34		7.488			357		694		78.37
New Jersey		11,907,067.97		41		1.65			290,416.29		7.558			351		695		76.80
New Mexico		277,450.00		2		0.04			138,725.00		8.246			360		728		77.91
New York		16,941,775.62		51		2.35			332,191.68		8.035			330		699		78.41
North Carolina		2,227,081.94		15		0.31			148,472.13		7.436			359		700		83.04
Ohio		89,980.71		2		0.01			44,990.36		9.713			307		697		99.56
Oklahoma		29,683.70		1		0.00			29,683.70		12.425			178		707		95.00
Oregon		3,018,386.13		15		0.42			201,225.74		7.156			357		710		75.90
Pennsylvania		2,891,111.20		16		0.40			180,694.45		7.402			356		694		77.58
Rhode Island		722,725.31		7		0.10			103,246.47		9.730			275		694		92.41
South Carolina		2,090,880.47		15		0.29			139,392.03		7.645			348		673		72.56
South Dakota		19,994.88		1		0.00			19,994.88		12.500			179		721		94.97
Tennessee		752,624.80		4		0.10			188,156.20		7.030			360		735		78.93
Texas		5,825,727.17		27		0.81			215,767.67		6.980			349		742		73.75
Utah		4,885,971.60		25		0.68			195,438.86		7.391			356		714		79.22
Virginia		11,326,560.63		50		1.57			226,531.21		7.763			340		703		79.31
Washington		17,678,505.19		58		2.46			304,801.81		6.634			350		715		75.56
Wisconsin		643,400.00		2		0.09			321,700.00		7.375			359		737		86.42
Wyoming		100,474.51		1		0.01			100,474.51		8.375			359		752		72.90
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

13

Next Rate Adjustment Dates

Next Rate Adjustment Date	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
January 2009	$	419,140.29		1		0.06	%	$	419,140.29		7.950	%		357		658		76.36	%
February 2009		247,893.33		1		0.03			247,893.33		8.990			358		652		80.00
March 2009		4,822,828.25		20		0.67			241,141.41		8.503			359		638		82.03
April 2009		2,081,900.00		6		0.29			346,983.33		8.191			360		685		84.02
July 2009		322,301.29		1		0.04			322,301.29		8.700			351		598		95.00
January 2010		204,750.00		1		0.03			204,750.00		6.625			357		753		61.49
February 2010		1,544,200.00		4		0.21			386,050.00		6.331			358		733		62.66
March 2010		17,787,429.12		42		2.47			423,510.22		6.550			359		713		74.45
April 2010		13,101,050.00		39		1.82			335,924.36		6.225			360		723		69.03
May 2010		1,623,000.00		3		0.23			541,000.00		5.875			360		776		74.83
December 2011		3,647,374.82		12		0.51			303,947.90		7.557			356		681		79.32
January 2012		7,047,920.61		23		0.98			306,431.33		7.263			357		667		79.14
February 2012		16,757,465.33		44		2.33			380,851.48		7.057			358		687		75.46
March 2012		153,162,417.51		473		21.29			323,810.61		6.984			359		702		76.79
April 2012		239,738,581.47		688		33.32			348,457.24		6.883			360		703		75.42
May 2012		51,926,634.00		152		7.22			341,622.59		7.425			360		704		78.22
January 2014		400,283.26		1		0.06			400,283.26		7.000			357		702		80.00
February 2014		787,329.76		3		0.11			262,443.25		6.484			358		741		78.42
March 2014		6,240,153.13		16		0.87			390,009.57		6.471			359		709		70.97
April 2014		14,231,569.16		40		1.98			355,789.23		6.380			360		730		65.66
May 2014		1,130,500.00		3		0.16			376,833.33		9.573			360		664		86.67
February 2017		500,931.27		1		0.07			500,931.27		6.625			358		799		50.10
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

14

Maximum Mortgage Rates

Range of Maximum Mortgage Rates (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
10.500 - 10.999	$	604,218.95		2		0.08	%	$	302,109.48		5.933	%		360		733		62.85	%
11.000 - 11.499		3,700,098.44		11		0.51			336,372.59		5.575			359		731		65.45
11.500 - 11.999		95,741,691.06		234		13.31			409,152.53		5.852			360		734		68.26
12.000 - 12.499		140,595,292.03		355		19.54			396,043.08		6.364			359		712		71.46
12.500 - 12.999		122,475,768.05		366		17.02			334,633.25		6.902			359		691		76.30
13.000 - 13.499		67,402,745.26		223		9.37			302,254.46		7.447			359		692		79.50
13.500 - 13.999		41,809,679.44		140		5.81			298,640.57		7.757			360		685		80.95
14.000 - 14.499		21,038,704.98		74		2.92			284,306.82		8.223			360		692		85.95
14.500 - 14.999		22,400,599.38		83		3.11			269,886.74		8.739			359		680		89.09
15.000 - 15.499		6,293,317.92		25		0.87			251,732.72		9.198			360		676		89.67
15.500 - 15.999		7,167,166.24		27		1.00			265,450.60		9.758			360		675		89.07
16.000 - 16.499		1,981,994.93		7		0.28			283,142.13		10.210			360		679		89.60
16.500 - 16.999		2,848,695.30		11		0.40			258,972.30		10.754			360		664		88.60
17.000 - 17.499		1,771,869.62		8		0.25			221,483.70		11.189			360		682		90.71
17.500 - 17.999		1,448,491.00		6		0.20			241,415.17		11.797			360		651		91.15
18.000 - 18.499		445,320.00		2		0.06			222,660.00		12.477			360		633		90.00
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Initial Periodic Rate Caps

Initial Periodic Rate Cap (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
1.000	$	440,000.00		1		0.06	%	$	440,000.00		7.000	%		358		658		80.00	%
2.000		500,000.00		1		0.07			500,000.00		5.875			357		660		71.43
3.000		450,193,529.95		1,279		62.57			351,988.69		6.841			360		706		74.55
5.000		44,432,709.17		131		6.18			339,180.99		7.503			359		687		77.57
6.000		42,159,413.48		162		5.86			260,243.29		7.631			359		690		86.40
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

15

Subsequent Periodic Rate Caps

Subsequent Periodic Rate Cap (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
1.000	$	493,060,699.45		1,405		68.53	%	$	350,932.88		6.899	%		360		704		74.85	%
2.000		44,365,224.35		168		6.17			264,078.72		7.600			359		691		85.62
3.000		299,728.80		1		0.04			299,728.80		6.500			360		672		60.61
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Original Prepayment Penalty Terms

Original Prepayment Penalty Term (months)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
NO	$	217,173,018.56		778		30.18	%	$	279,142.70		7.360	%		349		713		74.43	%
6		3,416,578.45		13		0.47			262,813.73		7.744			334		707		70.78
12		97,738,574.75		288		13.58			339,370.05		6.946			353		706		74.42
24		67,847,189.36		250		9.43			271,388.76		7.398			347		696		75.72
36		330,607,851.63		1,038		45.95			318,504.67		6.763			355		705		74.02
60		2,704,100.00		8		0.38			338,012.50		7.095			360		674		76.83
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Months to Roll

Range of Months to Roll	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to- Value Ratio
0.01 - 24.99	$	7,571,761.87		28		1.05	%	$	270,420.07		8.403	%		359		653		82.20	%
25.00 - 31.99		322,301.29		1		0.04			322,301.29		8.700			351		598		95.00
32.00 - 49.99		34,260,429.12		89		4.76			384,948.64		6.385			359		721		71.79
50.00 - 79.99		472,280,393.74		1,392		65.64			339,281.89		6.992			360		702		76.26
80.00 +		23,290,766.58		64		3.24			363,918.23		6.579			360		722		68.45
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

16

Credit Grade Categories⁽¹⁾

Credit Grade Category	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
A+	$	411,562,103.00		1,233		57.20	%	$	333,789.22		6.648	%		352		734		71.91	%
A		186,450,777.36		748		25.91			249,265.75		7.723			347		656		78.21
A-		7,689,569.21		29		1.07			265,157.56		8.093			357		613		76.40
Progressive Express I		81,052,297.13		260		11.27			311,739.60		7.114			357		718		76.59
Progressive Express II		31,298,859.65		98		4.35			319,376.12		7.500			359		650		77.70
Progressive Express III		1,433,706.40		7		0.20			204,815.20		7.552			360		612		65.69
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

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(1) Although the Mortgage Loans were originated by various originators under differing underwriting guidelines, the Mortgage Loans loosely correspond to the Countrywide Home Loans credit grades shown in this table. See “—Underwriting Standards” in the prospectus supplement.

Initial Fixed-Rate Periods

Initial Fixed Period (Months)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
24	$	7,571,761.87		28		1.05	%	$	270,420.07		8.403	%		359		653		82.20	%
36		34,287,835.41		89		4.77			385,256.58		6.406			359		720		71.76
60		472,575,288.74		1,393		65.68			339,250.03		6.992			360		702		76.27
84		22,789,835.31		63		3.17			361,743.42		6.578			360		721		68.85
120		500,931.27		1		0.07			500,931.27		6.625			358		799		50.10
FIXED		181,761,660.15		801		25.26			226,918.43		7.262			329		718		70.29
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

Debt-to-Income Ratios

Range of Debt-to-Income (%)	Aggregate Principal Balance Outstanding		Number of Loans		Percent of Aggregate Principal Balance Outstanding			Average Principal Balance Outstanding		Weighted Average Mortgage Rate			Weighted Average Remaining Term to Maturity (months)		Weighted Average Credit Score		Weighted Average Original Loan-to-Value Ratio
N/A	$	118,177,266.97		414		16.43	%	$	285,452.34		7.458	%		357		696		78.48	%
0.01 - 5.00		24,400,871.02		66		3.39			369,710.17		6.764			359		700		71.95
5.01 - 10.00		1,408,000.00		5		0.20			281,600.00		6.767			360		686		46.47
10.01 - 15.00		3,471,955.00		11		0.48			315,632.27		6.502			360		738		67.97
15.01 - 20.00		12,563,687.22		45		1.75			279,193.05		6.585			357		718		64.11
20.01 - 25.00		20,751,590.25		65		2.88			319,255.23		6.598			357		729		65.69
25.01 - 30.00		45,510,612.12		146		6.33			311,716.52		6.598			355		724		69.20
30.01 - 35.00		72,746,155.06		248		10.11			293,331.27		6.928			351		714		70.98
35.01 - 40.00		111,997,913.96		362		15.57			309,386.50		6.868			350		714		73.45
40.01 - 45.00		199,418,063.16		627		27.72			318,051.14		6.988			351		705		75.90
45.01 - 50.00		97,735,593.19		348		13.58			280,849.41		7.390			345		696		77.77
50.01 - 55.00		11,114,054.80		37		1.54			300,379.86		6.432			354		727		63.62
55.00+		191,550.00		1		0.03			191,550.00		8.250			359		695		75.00
Total/Avg./Wtd.Avg…	$	719,487,312.75		2,375		100.00	%	$	302,942.03		7.034	%		352		707		74.35	%

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