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                       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: June 13, 2003
                        (Date of earliest event reported)


 IMPAC SECURED ASSETS CORP. (as company under a Pooling and Servicing Agreement,
              dated as of June 1, 2003, providing for, inter alia,
       the issuance of Mortgage Pass-Through Certificates, Series 2003-2)


                           Impac Secured Assets Corp.
                           --------------------------
             (Exact name of registrant as specified in its charter)




        CALIFORNIA                   333-85310                  33-071-5871
        ----------                   ---------                  -----------
(State or Other Jurisdiction        (Commission              (I.R.S. Employer
of Incorporation)                   File Number)             Identification No.)

1401 Dove Street
Newport Beach, California                                           92660
(Address of Principal                                             (Zip Code)
Executive Offices)


      Registrant's telephone number, including area code, is (949) 475-3600





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Item 5. Other Events

                        Description of the Mortgage Pool

         Impac Secured Asset Corp. (the "Registrant") plans to issue a series of
certificates, entitled Mortgage Pass-Through Certificates, Series 2003-2 (the
"Certificates") pursuant to a Pooling and Servicing Agreement dated as of June
1, 2003, among the Registrant, Impac Funding Corporation, as Master Servicer,
and Deutsche Bank National Trust Company, as Trustee..

                             Collateral Term Sheets

         UBS Warburg LLC (the "Underwriter") has advised the Registrant that it
has furnished to certain prospective purchasers of Certificates certain
materials, herein referred to as "Collateral Term Sheets", in written form,
which Collateral Term Sheets are in the nature of data tables and term sheet
information relating to the Mortgage Loans or other assets of the Trust Fund.

         The Collateral Term Sheets have been provided by the Underwriter. The
information in the Collateral Term Sheets is preliminary and will be superseded
by a prospectus supplement relating to the Certificates and by any other
information subsequently filed with the Commission.

         The Collateral Term Sheets were prepared by the Underwriter at the
request of certain prospective investors. The Collateral Term Sheets may be
based on information that differs from the information set forth in the
prospectus supplement.







Item 7.           Financial Statements and Exhibits

                           (a) Not applicable

                           (b) Not applicable

                           (c) Exhibits


         Exhibit No.                              Description
         -----------                              -----------
             99.1                   Collateral Term Sheets (as defined in Item
                                    5) that have been provided by UBS Warburg
                                    LLC to certain prospective purchasers of
                                    Mortgage Pass-Through Certificates, Series
                                    2003-2 (filed in paper pursuant to the
                                    automatic SEC exemption pursuant to Release
                                    33-7427, August 7, 1997).









                                    SIGNATURE

         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 ASSET CORP.

                                               By:  /s/ Richard J. Johnson
                                                    ---------------------------
                                               Name:    Richard J. Johnson
                                               Title:   Chief Financial Officer


Dated: June 13, 2003













                                  EXHIBIT INDEX





                  Item 601(a) of            Sequentially
Exhibit           Regulation S-K            Numbered
Number.           Exhibit No.               Description                         Page
- -------           -----------               -----------                         ----
                                                                       
1                 99                        Preliminary                         Filed Manually
                                            Collateral Term Sheet