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): December 26, 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 December 26, 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: Jan 02, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of December 26, 2003. |
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
December 26, 2003 Distribution | |||||||||||
Contents | |||||||||||
&nb sp; | |||||||||||
TABLE OF CONTENTS | |||||||||||
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: December 26, 2003 | |||||||||||
Underwriter(s): | Countrywide Securities Underwriter | Record Date: December 24, 2003 | |||||||||
Countrywide Securities | November 28, 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 December 26, 2003 Distribution | |||||||||||
Distribution in Dollars - Current Period | &nbs p; | ||||||||||
Prior | 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) | |||||
1-A-1 | STEP. FLT, | 685,100,000.00 | 674,343,301.90 | 852,880.37 | 8,029,984.16 | 8,882,864.53 | - | - | 666,313,317.74 | ||
1-A-2 | STEP. FLT, | 75,000,000.00 | 73,822,431.24 | 88,281.89 | 879,067.01 | 967,348.90 | - | - | 72,943,364.23 | ||
2-A | STEP, AFC | 94,900,000.00 | 94,401,303.44 | 323,245.80 | 820,559.32 | 1,143,805.12 | - | - | 93,580,744.12 | ||
M-1 | MEZ, STEP, | 22,500,000.00 | 22,172,818.56 | 30,334.42 | 256,041.85 | 286,376.27 | - | - | 21,916,776.71 | ||
M-2 | MEZ, STEP, | 14,500,000.00 | 14,289,149.74 | 20,779.30 | 165,004.75 | 185,784.05 | - | - | 14,124,144.99 | ||
M-3 | MEZ, STEP, | 35,500,000.00 | 34,983,780.40 | 53,885.96 | 403,977.14 | 457,863.10 | - | - | 34,579,803.26 | ||
M-4 | MEZ, STEP, | 41,000,000.00 | 40,403,802.71 | 82,413.94 | 466,565.15 | 548,979.09 | - | - | 39,937,237.56 | ||
M-5 | MEZ, STEP, | 24,000,000.00 | 23,651,006.46 | 54,352.15 | 273,111.31 | 327,463.46 | - | - | 23,377,895.15 | ||
M-6 | MEZ, STEP, | 7,500,000.00 | 7,390,939.52 | 17,939.71 | 85,347.28 | 103,286.99 | - | - | 7,305,592.24 | ||
Cert | R | - | - | 2,674,960.11 | - | 2,674,960.11 | - | - | - | ||
Total | 1,000,000,000.00 | 985,458,533.97 | 4,199,073.65 | 11,379,657.97 | 15,578,731.62 | - | - | 974,078,876.00 | |||
�� | |||||||||||
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 | St arting | Ending | Method | Cusip | Balance | Balance | Interest | Principal | Distribution | Balance | |
(1) | (2) | (3) | (4)=(2)+(3) | (5) | |||||||
&nbs p; | |||||||||||
1-A-1 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFP7 | 685,100,000.00 | 984.299083 | 1.244899 | 11.720894 | 12.965793 | 972.578190 | |
1-A-2 | 11/25/03 | 12/25/03 | A-Act/360 | 452 54NFQ5 | 75,000,000.00 | 984.299083 | 1.177092 | 11.720893 | 12.897985 | 972.578190 | |
2-A | 11/25/03 | 12/25/03 | A-30/360 | 45254NFR3 | 94,900,000.00 | 994.745031 | 3.406173 | 8.646568 | 12.052741 | 986.098463 | |
M-1 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFS1 | 22,500,000.00 | 985.458603 | 1.348196 | 11.379638 | 12.727834 | 974.078965 | |
M-2 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFT9 | 14,500,000.00 | 985.45 8603 | 1.433055 | 11.379638 | 12.812693 | 974.078965 | |
M-3 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFU6 | 35,500,000.00 | 985.458603 | 1.517914 | 11.379638 | 12.897552 | 974.078965 | |
M-4 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFV4 | 41,000,000.00 | 985.458603 | 2.010096 | 11.379638 | 13.389734 | 974.078965 | |
M-5 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFW2 | 24,000,000.00 | 985.458603 | 2.264673 | 11.379638 | 13.644311 | 974.078965 | |
M-6 | 11/25/03 | 12/25/03 | A-Act/360 | 45254NFX0 | 7,500,000.00 | 985.458603 | 2.391961 | 11.379637 | 13.771599 | 974.078965 | |
Cert | 11/25/03 | 12/25/03 | 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 December 26, 2003 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) | |||
1-A-1 | 685,100,000.00 | 2,444,543.61 | 16,642,336.77 | 2,144,345.49 | 18,786,682.26 | 21,231,225.87 | - | - | 666,313,317.74 | ||
1-A-2 | 75,000,000.00 | 253,043.47 | 1,821,887.69 | 234,748.08 | 2,056,635.77 | 2,309,679.24 | - | - - | 72,943,364.23 | ||
2-A | 94,900,000.00 | 972,923.68 | 2,319,056.52 | - | 1,319,255.88 | 2,292,179.56 | - | - | 93,580,744.12 | ||
M-1 | 22,500,000.00 | 86,884.11 | 546,928.47 | 36,294.82 | 583,223.29 | 670,107.40 | - | - | 21,916,776.71 | ||
M-2 | 14,500,000.00 | 59,514.45 | 352,465.02 | 23,390.00 | 375,855.01 | 435,369.46 | - | - | 14,124,144.99 | ||
M-3 | 35,500,000.00 | 154,331.81 | 862,931.59 | 57,265.15 | 920,196.74 | 1,074,528.55 | - | - | 34,579,803.26 | ||
M-4 | 41,000,000.00 | 236,010.97 | 996,625.22 | 66,137.22 | 1,062,762.44 | 1,298,773.41 | - | - | 39,937,237.56 | ||
M-5 | 24,000,000.00 | 155,643.68 | 583,390.37 | 38,714.48 | 622,104.85 | 777,748.53 | - | - | 23,377,895.15 | ||
M-6 | 7,500,000.00 | 51,371.60 | 182,309.49 | 12,098.27 | 194,407.76 | 245,779.36 | - | - | 7,305,592.24 | ||
Cert | - | 8,343,268.49 | - | - | - | 8,343,268.49 | - | - | - | ||
Total | 1,000,000,000.00 | 12,757,535.87 | 24,307,931.13 | 2,612,993.50 | 25,921,123.99 | 38,678,659.86 | - | - | 974,078,876.00 | ||
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) | |||||
1-A-1 | 1.46875% | 674,343,301.90 | 852,880.37 | - | - | - | 852,880.37 | 852,880.37 | - | ||
1-A-2 | 1.38875% | 73,822,431.24 | 88,281.89 | - | - | - | 88,281.89 | 88,281.89 | 0.00 | ||
2-A | 4.10900% | 94,401,303.44 | 323,245.80 | - | - | - | 323,245.80 | 323,245.80 | - | ||
M-1 | 1.58875% | 22,172,818.56 | 30,334.42 | - | - | - | 30,334.42 | 30,334.42 | - | ||
M-2 | 1.68875% | 14,289,149.74 | 20,779.30 | - | - | - | 20,779.30 | 20,779.30 | - | ||
M-3 | 1.78875% | 34,983,780.40 | 53,885.96 | - | - | - | 53,885.96 | 53,885.96 | - | ||
M-4 | 2.36875% | 40,403,802.71 | 82,413.94 | - | - | - | 82,413.94 | 82,413.94 | - | ||
M-5 | 2.66875% | 23,651,006.46 | 54,352.15 | - | - | - | 54,352.15 | 54,352.15 | - | ||
M-6 | 2.81875% | 7,390,939.52 | 17,939.71 | - | - | - | 17,939.71 | 17,939.71 | - | ||
Cert | - | - | - | - | - | - | 2,674,960.11 | - | |||
Total | 985,458,533.97 | 1,524,113.54 | - | - | - | 1,524,113.54 | 4,199,073.65 | 0.00 | |||
Page 3 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Certificate Payment Report for December 26, 2003 Distribution | |||||||||||
Distribution in Dollars - Current Period | |||||||||||
Prior | 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) | |||||
M-1-1 | 20,002,458.00 | 19,688,401.07 | 26,935.51 | 234,446.68 | 261,382.19 | - | - | 19,453,954.39 | |||
M-1-2 | 2,497,542.00 | 2,484,417.49 | 3,398.91 | 21,595.17 | 24,994.08 | - | - | 2,462,822.32 | |||
M-2-1 | 12,890,473.00 | 12,688,080.75 | 18,451.02 | 151,087.86 | 169,538.88 | - | - | 12,536,992.89 | |||
M-2-2 | 1,609,527.0 0 | 1,601,068.98 | 2,328.28 | 13,916.88 | 16,245.16 | - | - | 1,587,152.10 | |||
M-3-1 | 31,559,434.00 | 31,063,921.96 | 47,848.15 | 369,904.77 | 417,752.92 | - | - | 30,694,017.19 | |||
M-3-2 | 3,940,566.00 | 3,919,858.45 | 6,037.81 | 34,072.37 | 40,110.18 | - | - | 3,885,786.08 | |||
M-4-1 | 36,448,924.00 | 35,876,642.48 | 73,179.63 | 427,213.96 | 500,393.59 | - | - | 35,449,428.52 | |||
M-4-2 | 4,551,076.00 | 4,527,160.24 | 9,234.31 | 39,351.19 | 48,585.50 | - | - | 4,487,809.05 | |||
M-5-1 | 21,335,956.00 | 21,000,961.93 | 48,262.11 | 250,076.47 | 298,338.58 | - | - | 20,750,885.46 | |||
M-5-2 | 2,664,044.00 | 2,650,044.53 | 6,090.04 | 23,034.84 | 29,124.88 | - | - | 2,627,009.69 | |||
M-6-1 | 6,667,486.00 | 6,562,800.36 | 15,929.60 | 78,148.89 | 94,078.49 | - | - | 6,484,651.47 | |||
M-6-2 | 832,514.00 | 828,139.16 | 2,010.11 | 7,198.39 | 9,208.50 | - | - | 820,940.77 | |||
Total | 145,000,000.00 | 142,891,497.40 | 259,705.48 | 1,650,047.47 | 1,909,752.95 | - | - | 141,241,449.93 | |||
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 | |
&nb sp; | (1) | (2) | (3) | (4)=(2)+(3) | (5) | ||||||
M-1-1 | 11/25/03 | 12/25/03 | A-Act/360 | 20,002,458.00 | 984.299083 | 1.346610 | 11.720894 | 13.067504 | 972.578190 | ||
M-1-2 | 11/25/03 | 12/25/03 | A-Act/360 | 2,497,542.00 | 994.745029 | 1.360902 | 8.646569 | 10.007471 | 986.098460 | ||
M-2-1 | 11/25/03 | 12/25/03 | A-Act/360 | 12,890,473.00 | 984.299083 | 1.431369 | 11.720893 | 13.152262 | 972.578189 | ||
M-2-2 | 11/25/03 | 12/25/03 | A-Act/360 | 1,609,527.00 | 994.745028 | 1.446562 | 8.646565 | 10.093127 | 986.098462 | ||
M-3-1 | 11/25/03 | 12/25/03 | A-Act/360 | 31,559,434.00 | 984.299083 | 1.516128 | 11.720894 | 13.237022 | 972.578190 | ||
M-3-2 | 11/25/03 | 12/25/03 | A-Act/360 | 3,940,566.00 | 994.745032 | 1.532219 | 8.646568 | 10.178786 | 986.098464 | ||
M-4-1 | 11/25/03 | 12/25/03 | A-Act/360 | 36,448,924.00 | 984.299083 | 2.007731 | 11.720894 | 13.728624 | 972.578190 | ||
M-4-2 | 11/25/03 | 12/25/03 | A-Act/360 | 4,551,076.00 | 994.745032 | 2.029039 | 8.646568 | 10.675607 | 986.098463 | ||
M-5- 1 | 11/25/03 | 12/25/03 | A-Act/360 | 21,335,956.00 | 984.299083 | 2.262008 | 11.720894 | 13.982902 | 972.578190 | ||
M-5-2 | 11/25/03 | 12/25/03 | A-Act/360 | 2,664,044.00 | 994.745030 | 2.286013 | 8.646569 | 10.932582 | 986.098462 | ||
M-6-1 | 11/25/03 | 12/25/03 | A-Act/360 | 6,667,486.00 | 984.299084 | 2.389146 | 11.720893 | 14.110039 | 972.578191 | ||
M-6-2 | 11/25/03 | 12/25/03 | A-Act/360 | 832,514.00 | 994.745025 | 2.414506 | 8.646569 | 11.061075 | 986.098456 | ||
Page 4 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Certificate Payment Report for December 26, 2003 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) | |||
M-1-1 | 20,002,458.00 | 77,199.89 | 485,896.43 | 62,607.18 | 548,503.61 | 625,703.50 | - | - | 19,453,954.39 | ||
M-1-2 | 2,497,542.00 | 9,684.22 | 61,032.04 | - | 34,719.68 | 44,403.90 | - | - | 2,462,822.32 | ||
M-2-1 | 12,890,473.00 | 52,880.89 | 313,133.25 | 40,346.85 | 353,480.11 | 406,361.00 | - | - | 12,536,992.89 | ||
M-2-2 | 1,609,527.00 | 6,633.56 | 39,331.76 | - | 22,374.90 | 29,008.46 | - | - | 1,587,152.10 | ||
M-3-1 | 31,559,434.00 | 137,129.79 | 766,636.59 | 98,780.22 | 865,416.81 | 1,002,546.60 | - | - | 30,694,017.19 | ||
M-3-2 | 3,940,566.00 | 17,202.02 | 96,295.00 | - | 54,779.92 | 71,981.94 | - | - | 3,885,786.08 | ||
M-4-1 | 36,448,924.00 | 209,704.87 | 885,411.28 | 114,084.20 | 999,495.48 | 1,209,200.35 | - | - | 35,449,428.52 | ||
M-4-2 | 4,551,076.00 | 26,306.10 | 111,213.94 | - | 63,266.95 | 89,573.05 | - | - | 4,487,809.05 | ||
M-5-1 | 21,335,956.00 | 138,295.43 | 518,289.54 | 66,781.00 | 585,070.54 | 723,365.97 | - | - | 20,750,885.46 | ||
M-5-2 | 2,664,044.00 | 17,348.25 | 65,100.83 | - | 37,034.31 | 54,382.56 | - | - | 2,627,009.69 | ||
M-6-1 | 6,667,486.00 | 45,645.65 | 161,965.48 | 20,869.06 | 182,834.53 | 228,480.18 | - | - | 6,484,651.47 | ||
M-6-2 | 832,514.00 | 5,725.95 | 20,344.01 | - | 11,573.23 | 17,299.18 | - | - | 820,940.77 | ||
Total | 145,000,000.00 | 743,756.62 | 3,524,650.15 | 403,468.51 | 3,758,550.07 | 4,502,306.69 | - | - | 141,241,449.93 | ||
Interest Detail | |||||||||||
Pass- | Prior Principal | Non- | Prior | Unscheduled | Paid or | Current | |||||
Through | (with Notional) | Accrued | Suppor ted | 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) | |||||
&n bsp; | |||||||||||
M-1-1 | 1.58875% | 19,688,401.07 | 26,935.51 | - | - | - | 26,935.51 | 26,935.51 | - | ||
M-1-2 | 1.58875% | 2,484,417.49 | 3,398.91 | - | - | - | 3,398.91 | 3,398.91 | - | ||
M-2-1 | 1.68875% | 12,688,080.75 | 18,451.02 | - | - | - | 18,451.02 | 18,451.02 | - | ||
M-2-2 | 1.68875% | 1,601,068.98 | 2,328.28 | - | - | - | 2,328.28 | 2,328.28 | - | ||
M-3-1 | 1.78875% | 31,063,921.96 | 47,848.15 | - | - | - | 47,848.15 | 47,848.15 | - | ||
M-3-2 | 1.78875% | 3,919,858.45 | 6,037.81 | - | - | - | 6,037.81 | 6,037.81 | - | ||
M-4-1 | 2.36875% | 35,876,642.48 | 73,179.63 | - | - | - | 73,179.63 | 73,179.63 | - | ||
M-4-2 | 2.36875% | 4,527,160.24 | 9,234.31 | - | - | - | 9,234.31 | 9,234.31 | - | ||
M-5-1 | 2.66875% | 21,000,961.93 | 48,262.11 | - | - | - | 48,262.11 | 48,262.11 | - | ||
M-5-2 | 2.6 6875% | 2,650,044.53 | 6,090.04 | - | - | - | 6,090.04 | 6,090.04 | - | ||
M-6-1 | 2.81875% | 6,562,800.36 | 15,929.60 | - | - | - | 15,929.60 | 15,929.60 | - | ||
M-6-2 | 2.81875% | 828,139.16 | 2,010.11 | - | - | - | 2,010.11 | 2,010.11 | - | ||
Total | 142,891,497.40 | 259,705.48 | - | - | - | 259,705.48 | 259,705.48 | - | |||
Page 5 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collection Account Report for December 26, 2003 Distribution | |||||||||||
&nb sp; | |||||||||||
Collection Account Report | |||||||||||
SUMMARY | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Principal Collections | 11,379,657.96 | ||||||||||
Principal Withdr awals | 0.00 | ||||||||||
Principal Other Accounts | 0.00 | ||||||||||
TOTAL PRINCIPAL | 11,379,657.96 | ||||||||||
Interest Collections | 4,347,780.29 | ||||||||||
Interest Withdrawals | 0.00 | ||||||||||
Interest Other Accounts | 0.00 | ||||||||||
Interest Fees | (138,803.06) | ||||||||||
Interest Earnings | 0.00 | ||||||||||
TOTAL INTEREST | 4,208,977.23 | ||||||||||
TOTAL AVAILABLE FUNDS TO BONDHOLDERS | 15,588,635.19 | ||||||||||
PRINCIPAL - COLLECTIONS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Scheduled Principal | 605,987.96 | ||||||||||
Curtailments | 133,599.29 | ||||||||||
Prepayments in Full | 10,551,023.62 | ||||||||||
Repurchases/Substitutions | 89,047.09 | ||||||||||
Liquidations | 0.00 | ||||||||||
Insurance Principal | 0.00 | ||||||||||
Other Additional Principal | 0.00 | ||||||||||
Delinquent Principal | (439,392.34) | ||||||||||
Realized Losses | 0.00 | ||||||||||
Substitution Adjustments- Principal | 0.00 | ||||||||||
Termination Price Amounts- Principal | 0.00 | ||||||||||
Additional Principal Amts | 0.00 | ||||||||||
Principal Advanced | 439,392.34 | ||||||||||
TOTAL PRINCIPAL | 11,379,657.96 | ||||||||||
Page 6 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collection Account Report for December 26, 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 | &nbs p; | |||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
INTEREST - COLLECTIONS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Scheduled Interest | 4,590,509.39 | ||||||||||
Repurchases/Substitutions | 426.68 | ||||||||||
Liquidations | 0.00 | ||||||||||
Insurance Interest | 0.00 | ||||||||||
Other Additional Interest | 0.00 | ||||||||||
Prepayment Interest Shortfalls | &nb sp; | (28,377.76) | |||||||||
Relief Act Interest Shortfalls | (168.20) | ||||||||||
Delinquent Interest | (3,412,874.42) | ||||||||||
Interest Realized Losses | 0.00 | ||||||||||
Compensating Interest | 28,377.76 | ||||||||||
Substitution Adjustments- Interest | 0.00 | ||||||||||
Termination Price Amounts- Interest | 0.00 | ||||||||||
Additional Interest Amts | 0.00 | ||||||||||
Interest Prepayment Premiums | 0.00 | ||||||||||
Interest Advanced | 3,169,886.84 | ||||||||||
Cap Contract Payment Amt | 0.00 | ||||||||||
TOTAL INTEREST | &nb sp; | 4,347,780.29 | |||||||||
Page 7 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collection Account Report for December 26, 2003 Distribution | |||||||||||
Collection Account Report | |||||||||||
INTEREST - WITHDRAWALS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
P rev. Unreimbursed PMI Premiums | 0.00 | ||||||||||
Prev. Unreimbursed Spec Haz Premiums | 0.00 | ||||||||||
Prev. Unreimbursed Liq. Expenses | 0.00 | ||||||||||
Prev. Unreimbursed Master/Sub-Servicing Fees | 0.00 | ||||||||||
Amt Rvcd Not Due Bondholder /Deposits in Error | 0.00 | ||||||||||
Prev. Unreimb. P&I Advances/Non Recov Advances | 0.00 | ||||||||||
Prev. Unreimbursed Servicing Advances | 0.00 | ||||||||||
Clear and Terminate Collection Account | 0.00 | ||||||||||
TOTAL INTEREST WITHDRAWALS | 0.00 | ||||||||||
INTEREST - OTHER ACCOUNTS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Cap Contract Payment Amounts | 0.00 | ||||||||||
Floo r Contract Payment Amounts | 0.00 | ||||||||||
Swap Contract Payment Amounts | 0.00 | ||||||||||
INTEREST - FEES | GROUP 2 - FIX | GROUP 1 - - ADJ | TOTAL | ||||||||
Owner Trustee Fee | 1,396.07 | ||||||||||
Indenture Trustee Fee | 3,038.50 | ||||||||||
Bond Insurance Premium Amount | 4,862.89 | ||||||||||
Radian PMI Insurance Premiums | 50,279.90 | ||||||||||
Current Servicing Fees | 79,225.70 | ||||||||||
TOTAL INTEREST FEES | 138,803.06 | ||||||||||
Page 8 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Credit Enhancement Report for December 26, 2003 Distribution | |||||||||||
&nb sp; | Credit Enhancement Report | ||||||||||
ACCOUNTS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
INSURANCE | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
STRUCTURAL FEATURES | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Current Periods Required Overcollateralization Amt | 0.00 | ||||||||||
Current Periods Overcollateralization Amt | 0.00 | ||||||||||
Current Periods Net Monthly Excess Cashflow | 2,718,272.54 | ||||||||||
Current Periods Overcollateralization Release | 0.00 | ||||||||||
Current Periods Principal Available Funds Shortfall | 0.00 | ||||||||||
Available Funds Rate | 4.8083% | ||||||||||
Page 9 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collateral Report for December 26, 2003 Distribution | |||||||||||
Collateral Report | |||||||||||
COLLATERAL | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Loan Count: | & nbsp; | ||||||||||
Original | 562 | 3522 | 4084 | ||||||||
Prior | 554 | 3,461 | 4,015 | ||||||||
Prefunding | - | - | - | ||||||||
Scheduled Paid Offs | - | - | - | ||||||||
Full Voluntary Prepayments | (8) | (47) | (55) | ||||||||
Repurchases | (1) | - | (1) | ||||||||
Liquidations | - | - | - | &nb sp; | |||||||
Current | 545 | 3,414 | 3,959 | ||||||||
Principal Balance: | |||||||||||
Original | 110,995,332.93 | 889,004,734.33 | 1,000,000,067.26 | ||||||||
Prior | 110,411,992.29 | 875,046,541.69 | 985,458,533.98 | ||||||||
Prefunding | - | - | - | ||||||||
Scheduled Principal | (104,834.02) | (501,153.94) | (605,987.96) | ||||||||
Partial and Full Voluntary Prepayments | (765,847.05) | (9,918,775.86) | (10,684,622.91) | ||||||||
Repurchases | (89,047.09) | - | (89,047.09) | ||||||||
Liquidations | - | - | - | ||||||||
Current | 109,452,264.13 | 864,626,611.89 | 974,078,876.02 | ||||||||
PREFUNDING | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
Group 1 - Adj | |||||||||||
Group 2 - Fix | |||||||||||
Current Prin Balance by Groups (in millions of dollars) | Total Current Principal Balance (in millions of dollars) | ||||||||||
Page 10 of 26 | © COPYR IGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collateral Report for December 26, 2003 Distribution | |||||||||||
Collateral Report | |||||||||||
CHARACTERISTICS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Weighted Average Coupon Original | 6.697981% | 5.471194% | 5.607362% | ||||||||
Weighted Average Coupon Prior | 6.696099% | 5.461417% | 5.598813% | ||||||||
Weighted Average Coupon Current | 6.686563% | 5.452106% | 5.590416% | ||||||||
Weighted Average Months to Maturity Original | 347 | 355 | 354 | ||||||||
Weighted Average Months to Maturity Prior | 346 | 355 | 354 | ||||||||
Weighted Average Months to Maturity Current | 345 | 354 | 353 | ||||||||
Weighted Avg Remaining Amortization Term Original | 347 | 355 | 354 | ||||||||
Weighted Avg Remaining Amortization Term Prior | 346 | 354 | 353 | ||||||||
Weighted Avg Remaining Amortization Term Current | 346 | 353 | 352 | ||||||||
Weighted Average Seasoning Original | 3.47 | 5.13 | 4.95 | ||||||||
Weighted Average Seasoning Prior | 4.40 | 5.93 | 5.76 | ||||||||
Weighted Average Seasoning Current | 5.31 | 6.83 | 6.66 | ||||||||
Note: Original information refers to deal issue. | |||||||||||
Group 1 - Adj | |||||||||||
Group 2 - Fix | |||||||||||
WAC by Groups | Total WAC | ||||||||||
WARAT by Groups | Total WARAT | ||||||||||
Note: Dates correspond to distribution dates. | |||||||||||
Page 11 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Collateral Report for December 26, 2003 Distribution | |||||||||||
Collateral Report | |||||||||||
ARM CHARACTERISTICS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Weighted Average Margin Original | 3.187% | ||||||||||
Weighted Average Margin Prior | 3.185% | ||||||||||
Weighted Average Margin Current | 3.182% | ||||||||||
Weighted Average Max Rate Original | 11.599% | ||||||||||
Weighted Average Max Rate Prior | 11.594% | ||||||||||
Weighted Average Max Rate Current | 11.579% | ||||||||||
Weighted Average Min Rate Original | 3.350% | ||||||||||
Weighted Average Min Rate Prior | 3.347% | ||||||||||
Weighted Average Min Rate Current | 3.340% | ||||||||||
Weighted Average Cap Up Original | 1.048% | ||||||||||
Weighted Average Cap Up Prior | 1.048% | ||||||||||
Weighted Average Cap Up Current | 1.047% | ||||||||||
Weighted Average Cap Down Original | 0.535% | ||||||||||
Weighted Average Cap Down Prior | 0.537% | ||||||||||
Weighted Average Cap Down Current | 0.541% | ||||||||||
Note: Original information refers to deal issue. | |||||||||||
SERVICING FEES / ADVANCES | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Current Servicing Fees | 79,225.70 | ||||||||||
Delinquent Servicing Fees | 242,987.58 | ||||||||||
TOTAL SERVICING FEES | 322,213.28 | ||||||||||
Total Servicing Fees | 322,213.28 | ||||||||||
Compensating Interest | 28,377.76 | ||||||||||
Delinquent Servicing Fees | (242,987.58) | ||||||||||
COLLECTED SERVICING FEES | 107,603.46 | ||||||||||
Current PPIS | 28,377.76 | ||||||||||
Current Net PPIS | 56,755.52 | ||||||||||
Total Advanced Principal For Current Payment Date | 439,392.34 | ||||||||||
Total Advanced Interest For Current Payment Date | 3,169,886.84 | ||||||||||
TOTAL ADVANCES FOR CURRENT PERIOD | 3,609,279.18 | ||||||||||
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 December 26, 2003 Distribution | |||||||||||
Delinquency Report - Total | |||||||||||
<1 PAYMENT | 1 PAYMENT | 2 PAYMENTS | 3+ PAYMENTS | TOTAL | |||||||
DELINQUENT | B alance | 5,912,026.47 | 650,666.41 | - | 6,562,692.88 | ||||||
% Balance | 0.61% | 0.07% | 0.00% | 0.67% | |||||||
# Loans | 28 | 5 | - | 33 | |||||||
% # Loans | 0.71% | 0.13% | 0.00% | 0.83% | |||||||
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 | 823,972.48 | 46,361.97 | - | - | 870,334.45 | |||||
% Balance | 0.08% | 0.00% | 0.00% | 0.00% | 0.09% | ||||||
# Loans | 8 | 1 | - | - | 9 | ||||||
% # Loans | 0.20% | 0.03% | 0.00% | 0.00% | 0.23% | ||||||
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 | 823,972.48 | 5,958,388.44 | 650,666.41 | - | 7,433,027.33 | |||||
% Balance | 0.08% | 0.61% | 0.07% | 0.00% | 0.76% | ||||||
# Loans | 8 | 29 | 5 | - | 42 | ||||||
% # Loans | 0.20% | 0.73% | 0.13% | 0.00% | 1.06% | ||||||
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 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Delinquency Report for December 26, 2003 Distribution | |||||||||||
Delinquency Report - Group 1 - Adj Gr oup | |||||||||||
<1 PAYMENT | 1 PAYMENT | 2 PAYMENTS | 3+ PAYMENTS | TOTAL | |||||||
DELINQUENT | Balance | 4,669,435.99 | 634,839.26 | - | 5,304,275.25 | ||||||
% Balance | 0.54% | 0.07% | 0.00% | 0.61% | |||||||
# Loans | 21 | 4 | - | 25 | |||||||
% # Loans | 0.62% | 0.12% | 0.00% | 0.73% | |||||||
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 | 783,666.66 | - | - | - - | 783,666.66 | |||||
% Balance | 0.09% | 0.00% | 0.00% | 0.00% | 0.09% | ||||||
# Loans | 7 | - | - | - | 7 | ||||||
% # Loans | 0.21% | 0.00% | 0.00% | 0.00% | 0.21% | ||||||
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 | 783,666.66 | 4,669,435.99 | 634,839.26 | - | 6,087,941.91 | |||||
% Balance | 0.09% | 0.54% | 0.07% | 0.00% | 0.70% | ||||||
# Loans | 7 | 21 | 4 | - | 32 | ||||||
% # Loans | 0.21% | 0.62% | 0.12% | 0.00% | 0.94% | ||||||
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 | ||||||||||
&n bsp; | |||||||||||
Total Foreclosure | Total 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 December 26, 2003 Distribution | |||||||||||
Delinquency Report - Group 2 - Fix Group | |||||||||||
<1 PAYMENT | 1 PAYMENT | 2 PAYMENTS | 3+ PAYMENTS | TOTAL | |||||||
DELINQUENT | Balance | 1,242,590.48 | 15,827.15 | - | 1,258,417.63 | ||||||
% Balance | 1.14% | 0.01% | 0.00% | 1.15% | |||||||
# Loans | 7 | 1 | - | 8 | |||||||
% # Loans | 1.28% | 0.18% | 0.00% | 1.47% | |||||||
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 | 40,305.82 | 46,361.97 | - | - | 86,667.79 | |||||
% Balance | 0.04% | 0.04% | 0.00% | 0.00% | 0.08% | ||||||
# Loans | 1 | 1 | - | - | 2 | ||||||
% # Loans | 0.18% | 0.18% | 0.00% | 0.00% | 0.37% | ||||||
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 | 40,305.82 | 1,288,952.45 | 15,827.15 | - | 1,345,085.42 | |||||
% Balance | 0.04% | 1.18% | 0.01% | 0.00% | 1.23% | ||||||
# Loans | 1 | 8 | 1 | - | 10 | ||||||
% # Loans | 0.18% | 1.47% | 0.18% | 0.00% | 1.83% | ||||||
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 15 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
REO Report for December 26, 2003 Distribution | |||||||||||
REO Report - Mortgage Loans that Become REO During Current Distribution | |||||||||||
&n bsp; | |||||||||||
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 | Balance | Date | Rate | Origination | Term | Date | ||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
Page 16 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Prepayment Report for December 26, 2003 Distribution | |||||||||||
Prepayment Report - Voluntary Prepayments | |||||||||||
VOLUNTARY PREPAYMENTS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Current | |||||||||||
Number of Paid in Full Loans | 8 | 47 | 55 | ||||||||
Number of Repurchased Loans | 1 | - | 1 | ||||||||
Total Number of Loans Prepaid in Full | 9 | 47 | 56 | ||||||||
Paid in Full Balance | 760,019.43 | 9,791,004.19 | 10,551,023.62 | ||||||||
Repurchased Loans Balance | 89,047.09 | - | 89,047.09 | ||||||||
Curtailments Amount | 5,827.62 | 127,771.67 | 133,599.29 | ||||||||
Total Prepayment Amount | 854,894.14 | 9,918,775.86 | 10,773,670.00 | ||||||||
Cumulative | |||||||||||
Number of Paid in Full Loans | 15 | 108 | 123 | ||||||||
Number of Repurchased Loans | 2 | - | 2 | ||||||||
Total Number of Loans Prepaid in Full | 17 | 108 | 125 | ||||||||
Paid in Full Balance | 1,170,220.38 | 21,754,611.78 | 22,924,832.16 | ||||||||
Repurchased Loans Balance | 119,128.69 | - | 119,128.69 | ||||||||
Curtailments Amount | 13,659.44 | 1,250,310.84 | 1,263,970.28 | ||||||||
Total Prepayment Amount | 1,303,008.51 | 23,004,922.62 | 24,307,931.13 | ||||||||
Current Prin Balance of Repurchases Per Sec 3.18 | 0.00 | ||||||||||
Cumulative Prin Balance of Repurchases Per Sec 3.18 | 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 December 26, 2003 Distribution | |||||||||||
Prepayment Report - Voluntary Prepayments | |||||||||||
VOLUNTARY PREPAYMENT RATES | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
SMM | 0.78% | 1.13% | 1.09% | ||||||||
3 Months Avg SMM | 0.39% | 0.87% | 0.82% | ||||||||
12 Months Avg SMM | |||||||||||
Avg SMM Since Cut-off | 0.39% | 0.87% | 0.82% | ||||||||
CPR | 8.91% | 12.79% | 12.37% | ||||||||
3 Months Avg CPR | 4.62% | 9.97% | 9.39% | ||||||||
12 Months Avg CPR | |||||||||||
Avg CPR Since Cut-off | 4.62% | 9.97% | 9.39% | ||||||||
PSA | 838.91% | 936.22% | 928.18% | ||||||||
3 Months Avg PSA Approximation | 525.86% | 835.38% | 810.49% | ||||||||
12 Months Avg PSA Approximation | |||||||||||
Avg PSA Since Cut-off Approximation | 525.86% | 835.38% | 810.49% | ||||||||
Group 1 - Adj | |||||||||||
Group 2 - Fix | |||||||||||
CPR by Groups | Total CPR | ||||||||||
PSA by Groups | Total PSA | ||||||||||
Page 18 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Prepayment Report for December 26, 2003 Distribution | |||||||||||
Prepayment Report - Voluntary Prepayments | |||||||||||
Group 1 - Adj | |||||||||||
Group 2 - Fix | |||||||||||
CPR Avg since Cut-Off by Groups | Total CPR Avg since Cut-Off | ||||||||||
PSA Avg since Cut-Off by Groups | Total PSA Avg since Cut-Off | ||||||||||
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,WAS)) | |||||||||||
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * ( 1-SMMn+1) *.......*(1-SMMm)]^(1/months in period n,m) | |||||||||||
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12) | |||||||||||
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m)) | |||||||||||
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m) | |||||||||||
Weighted Average Seasoning (WAS) | |||||||||||
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases. | |||||||||||
Dates correspond to distribution dates. | |||||||||||
Page 19 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Prepayment Detail Report for December 26, 2003 Distribution | |||||||||||
Prepayment Detail Report - Loans Prepaid in Full During Current Distribution | |||||||||||
SUMMARY | LOAN GROUP | ||||||||||
Total Loan Count = 56 | Loan Group 1 = Group 1 - Adj Group | ||||||||||
Total Original Principal Balance = 10,775,754.00 | Loan Group 2 = Group 2 - Fix Group | ||||||||||
Total Prepayment Amount = 10,640,070.71 | |||||||||||
&nb sp; | |||||||||||
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 | |||
1100378970 1 | 263,100.00 | 262,208.22 | Nov-17-03 | 6.875% | CA - 94.00% | Paid Off - 360 | Aug-18-03 | ||||
1100378987 1 | 141,550.00 | 141,033.99 | Nov-28-03 | 6.500% | IL - 95.00% | Paid Off - 360 | Aug-11-03 | ||||
1100379577 1 | 111,150.00 | 110,663.89 | Nov-12-03 | 7.250% | MD - 84.21% | Paid Off - 360 | Aug-11-03 | ||||
1100380247 1 | 350,000.00 | 349,516.69 | Nov-07-03 | 7.875% | CA - 85.37% | Paid Off - 360 | Sep-24-03 | ||||
1100380879 1 | 205,871.00 | 205,628.27 | Nov-25-03 | 5.125% | CA - 89.90% | Paid Off - 360 | Aug-13-03 | ||||
1100381299 1 | 85,000.00 | 84,530.49 | Nov-24-03 | 5.500% | MA - 51.52% | Paid Off - 360 | Jul-31-03 | ||||
1100381620 1 | 93,000.00 | 93,000.00 | Nov-21-03 | 5.250% | HI - 44.60% | Paid Off - 360 | Aug-20-03 | ||||
1100382044 1 | 216,000.00 | 215,467.74 | Nov-06-03 | 4.875% | CA - 77.14% | Paid Off - 360 | Sep-24-03 | ||||
1100382147 1 | 178,500.00 | 177,792.19 | Nov-21-03 | 4.500% | CA - 70.00% | Paid Off - 360 | Aug-22-03 | ||||
1100382729 1 | 471,750.00 | 470,229.90 | Nov-06-03 | 5.625% | CO - 75.00% | Paid Off - 360 | Aug-18-03 | ||||
1100382733 1 | 204,750.00 | 204,750.00 | Nov-21-03 | 6.875% | CA - 90.00% | Paid Off - 360 | Sep-11-03 | ||||
1100383367 1 | 159,200.00 | 158,662.43 | Nov-10-03 | 5.375% | CA - 80.00% | Paid Off - 360 | Aug-05-03 | ||||
1100384825 1 | 296,000.00 | 295,111.57 | Nov-28-03 | 6.000% | CA - 80.00% | Paid Off - 360 | Aug-18-03 | ||||
1100384884 1 | 300,000.00 | 300,000.00 | Nov-03-03 | 7.750% | CA - 89.55% | Paid Off - 360 | Aug-22-03 | ||||
1103032257 1 | 431,000.00 | 426,822.24 | Nov-19-03 | 4.500% | FL - 89.98% | Paid Off - 360 | Aug-15-03 | ||||
1103050756 1 | 213,500.00 | 212,308.13 | Nov-07-03 | 4.250% | CA - 70.00% | Paid Off - 360 | Sep-12-03 | ||||
1103055623 1 | 213,042.00 | 213,042.00 | Nov-13-03 | 6.375% | FL - 90.00% | Paid Off - 360 | Sep-18-03 | ||||
1103055975 1 | 164,700.00 | 164,127.99 | Nov-04-03 | 6.750% | CA - 90.00% | Paid Off - 360 | Aug-12-03 | ||||
1103061502 1 | 250,000.00 | 249,819.06 | Nov-04-03 | 7.625% | TX - 100.00% | Paid Off - 360 | Sep-25-03 | ||||
1103064893 1 | 112,500.00 | 112,200.58 | Nov-03-03 | 6.625% | FL - 90.00% | Paid Off - 360 | Sep-05-03 | ||||
1103068322 1 | 175,500.00 | 175,209.65 | Nov-19-03 | 8.990% | MN - 90.00% | Paid Off - 360 | Sep-23-03 | ||||
1103070903 1 | 387,000.00 | 386,150.88 | Nov-21-03 | 5.500% | NJ - 90.00% | Paid Off - 360 | Sep-19-03 | ||||
1103075692 1 | 507,500.00 | 507,500.00 | Nov-26-03 | 5.500% | CA - 70.00% | Paid Off - 360 | Sep-23-03 | ||||
1103084578 1 | 95,400.00 | 95,175.52 | Nov-19-03 | 5.125% | IL - 90.00% | Paid Off - 360 | Sep-25-03 | ||||
2500029825 1 | 206,250.00 | 206,250.00 | Nov-07-03 | 6.500% | CA - 89.99% | Paid Off - 360 | Aug-08-03 | ||||
2500029833 1 | 220,000.00 | 220,000.00 | Nov-26-03 | 6.250% | CA - 80.00% | Paid Off - 360 | Jul-30-03 | ||||
2500029869 1 | 405,000.00 | 404,068.87 | Nov-25-03 | 5.250% | NJ - 78.49% | Paid Off - 360 | Aug-15-03 | ||||
2500029950 1 | 380,000.00 | 379,997.25 | Nov-06-03 | 3.750% | CA - 33.19% | Paid Off - 360 | Jul-30-03 | ||||
2500030118 1 | 199,000.00 | 198,245.91 | Nov-24-03 | 4.750% | CA - 66.33% | Paid Off - 360 | Jul-31-03 | ||||
2503032304 1 | 252,900.00 | 252,900.00 | Nov-26-03 | 6.875% | CA - 88.74% | Paid Off - 360 | Sep-04-03 | ||||
2503032528 1 | 209,000.00 | 208,848.73 | Nov-28-03 | 7.625% | NJ - 95.00% | Paid Off - 360 | Sep-12-03 | & nbsp; | |||
3900006078 1 | 144,000.00 | 140,159.13 | Nov-24-03 | 6.375% | CA - 90.00% | Paid Off - 360 | May-31-00 | ||||
3900006113 1 | 114,000.00 | 111,424.33 | Nov-21-03 | 9.750% | NV - 90.48% | Paid Off - 360 | Jun-21-00 | ||||
3900006166 1 | 308,600.00 | 299,522.14 | Nov-03-03 | 6.500% | CA - 90.00% | Paid Off - 360 | Jun-30-00 | ||||
3900006208 1 | 112,500.00 | 108,806.16 | Nov-13-03 | 4.875% | CA - 90.00% | Paid Off - 360 | Aug-24-00 | ||||
3900006245 1 | 121,950.00 | 118,522.22 | Nov-20-03 | 6.125% | WA - 90.00% | Paid Off - 360 | Aug-30-00 | ||||
3900006289 1 | 72,000.00 | 69,032.88 | Nov-04-03 | 6.750% | FL - 90.00% | Paid Off - 360 | Sep-28-00 | ||||
3900006329 1 | 116,000.00 | 111,894.79 | Nov-25-03 | 3.875% | CA - 80.00% | Paid Off - 360 | Nov-01-00 | ||||
3900006432 1 | 156,750.00 | 150,840.54 | Nov-10-03 | 5.000% | CA - 95.00% | Paid Off - 360 | May-26-00 | ||||
3900006452 1 | 360,000.00 | 345,788.90 | Nov-11-03 | 5.875% | WA - 80.00% | Paid Off - 360 | Jun-29-00 | ||||
3900006478 1 | 92,250.00 | 89,839.02 | Nov-06-03 | 6.000% | FL - 90.00% | Paid Off - 360 | Aug-02-00 | ||||
3900006508 1 | 101,700.00 | 99,358.14 | Nov-25-03 | 5.875% | NV - 90.00% | Paid Off - 360 | Oct-31-00 | ||||
3900006569 1 | 252,000.00 | 240,000.91 | Nov-21-03 | 10.125% | VA - 90.00% | Paid Off - 360 | Feb-28-97 | ||||
3900006572 1 | 161,500.00 | 153,317.94 | Nov-13-03 | 9.500% | MA - 85.00% | Paid Off - 360 | Apr-14-97 | ||||
Page 20 of 26 | &nb sp; | © COPYRIGHT 2003 Deutsche Bank | |||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Prepayment Detail Report for December 26, 2003 Distribution | |||||||||||
Prepayment Detail Report - Loans Prepaid in Full During Current Distribution | |||||||||||
Loan Number | Original | Current | State & | ||||||||
& | Loan | Principal | Prepayment | Prepayment | Note | LTV at | Original | Origination | |||
Loan Group | Status | Balance | Amount | Date | Rate | Origination | Term | Date | |||
3900006598 1 | 127,500.00 | 114,052.50 | Nov-26-03 | 4.500% | NV - 89.99% | Paid Off - 360 | Aug-19-97 | ||||
3900006721 1 | 108,000.00 | 102,179.22 | Nov-25-03 | 9.250% | TX - 80.00% | Paid Off - 360 | Jul-30-96 | ||||
3900006774 1 | 58,500.00 | 55,003.18 | Nov-13-03 | 7.600% | CA - 75.00% | Paid Off - 360 | Nov-26-96 | ||||
1100380191 2 | 159,291.00 | 158,915.94 | Nov-06-03 | 7.250% | FL - 90.00% | Paid Off - 360 | Aug-26-03 | ||||
1103057449 2 | 68,400.00 | 68,230.80 | Nov-19-03 | 7.000% | MO - 95.00% | Paid Off - 360 | Aug-25-03 | ||||
1103069376 2 | 245,000.00 | 244,576.93 | Nov-14-03 | 6.750% | CA - 70.00% | Paid Off - 360 | Sep-25-03 | ||||
1103079057 2 | 132,050.00 | 131,795.64 | Nov-28-03 | 8.250% | IN - 95.00% | Paid Off - 360 | Sep-17-03 | ||||
3900006224 2 | 38,600.00 | 38,252.07 | Nov-13-03 | 14.125% | CA - 20.00% | Paid Off - 180 | Aug-31-00 | ||||
3900006358 2 | 64,000.00 | 56,933.00 | Nov-06-03 | 13.000% | NV - 51.20% | Paid Off - 240 | Oct-17-97 | ||||
3900006407 2 | 50,000.00 | 44,995.03 | Nov-03-03 | 13.875% | GA - 37.88% | Paid Off - 240 | Apr-07-00 | ||||
3900006529 2 | 23,000.00 | 16,320.02 | Nov-28-03 | 14.250% | CA - 26.74% | Paid Off - 180 | Jun-04-96 | ||||
1100382644 2 | 90,000.00 | 89,047.09 | Dec-01-03 | 5.750% | IL - 90.00% | Repur/Subs - 180 | Aug-25-03 | ||||
Page 21 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Realized Loss Report for December 26, 2003 Distribution | |||||||||||
Realized Loss Report - Collateral | |||||||||||
COLLATERAL REALIZED LOSSES | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Current | |||||||||||
Number of Loans Liquidated | - | - | - | ||||||||
Collateral Realized Loss/(Gain) Amount | - | - | - | ||||||||
Net Liquidation Proceeds | - | - | - | ||||||||
Cumulative | |||||||||||
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. | & nbsp; | ||||||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
Group 1 - Adj | 3 Months Moving Average | ||||||||||
Group 2 - Fix | |||||||||||
Collateral Loss Severity Approximation by Groups | Collateral 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 December 26, 2003 Distribution | &nb sp; | ||||||||||
Realized Loss Repo rt - Collateral | |||||||||||
DEFAULT SPEEDS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
MDR | 0.00% | 0.00% | 0.00% | ||||||||
3 Months Avg MDR | & nbsp; | 0.00% | 0.00% | 0.00% | |||||||
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 | 0.00% | 0.00% | 0.00% | ||||||||
12 Months Avg CDR | |||||||||||
Avg CDR Since Cut-off | 0.00% | 0.00% | 0.00% | ||||||||
SDA | 0.00% | 0.00% | 0.00% | ||||||||
3 Months Avg SDA Approximation | 0.00% | 0.00% | 0.00% | ||||||||
12 Months Avg SDA Approximation | |||||||||||
Avg SDA Since Cut-off Approximation | 0.00% | 0.00% | 0.00% | ||||||||
&n bsp; | 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 Groups | Total CDR | ||||||||||
SDA by Groups | Total SDA | ||||||||||
Page 23 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Realized Loss Report for December 26, 2003 Distribution | |||||||||||
Realized Loss Report - Collateral | |||||||||||
Group 1 - Adj | |||||||||||
Group 2 - Fix | |||||||||||
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 December 26, 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. | |||||||||||
Loan Number | Original | Prior | Current | State & | |||||||
& | Loan | Principal | Principal | Realized | Note | LTV at | Original | Origination | |||
Loan Group | Status | Balance | Balance | Loss/(Gain) | Rate | Origination | Term | Date | |||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
Page 25 of 26 | © COPYRIGHT 2003 Deutsche Bank | ||||||||||
Impac CMB Trust 2003-10 | |||||||||||
Collateralized Asset-Backed Bonds | |||||||||||
Series 2003-10 | |||||||||||
Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution | |||||||||||
Triggers, Adj. Rate Cert. and Miscellaneous Report | |||||||||||
TRIGGER EVENTS | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
SPACE INTENTIONALLY LEFT BLANK | |||||||||||
ADJUSTABLE RATE CERTIFICATE INFORMATION | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | ||||||||
Current Periods Basis Risk Shortfall C arry Forward Amt | 0.00 | ||||||||||
Cumulative Basis Risk Shortfall Carry Forward Amt | &n bsp; | 0.00 | |||||||||
Current Periods LIBOR Rate | 1.1188% | ||||||||||
ADDITIONAL INFORMATION | GROUP 2 - FIX | GROUP 1 - ADJ | TOTAL | &nbs p; | |||||||
Total Derivative Payments | 0.00 | ||||||||||
FXIMP310A1 | 0.00 | ||||||||||
FXIMP310C1 | 0.00 | ||||||||||
FXIMP310D1 | 0.00 | ||||||||||
FXIMP310E1 | 0.00 | ||||||||||
FXIMP310F1 | 0.00 | ||||||||||
FXIMP310H1 | 0.00 | ||||||||||
FXIMP310B1 | 0.00 | ||||||||||
FXIMP310G1 | 0.00 | ||||||||||
Page 26 of 26 | © COPYRIGHT 2003 Deutsche Bank |