SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
Annual Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the fiscal year ended
December 31, 2003
Commission file number: 333-85310-02
IMPAC SECURED ASSETS CORP MOR PASS THRU CERT SER 2003-3
(Exact name of Registrant as specified in its Charter)
Delaware 33-0715871
(State or other jurisdiction (I.R.S. Employer
incorporation or organization) Identification Number)
1401 Dove Street
Newport Beach, California 92660
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(949) 475-3600
Securities registered pursuant to Section 12(b) of the Act:
none
Securities registered pursuant to Section 12(g) of the Act:
none.
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of the Registrant's knowledge, in definitive proxy
or information statements incorporated by reference in Part III of the
Form 10-K or any amendment to this Form 10-K. [x]
State the aggregate market value of the voting and non-voting common
equity held by non-affiliates of the registrant as of December 31, 2003.
NOT APPLICABLE.
Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of December 31, 2003.
NOT APPLICABLE
DOCUMENTS INCORPORATED BY REFERENCE
None
PART I
ITEM 1. Business.
Omitted.
ITEM 2. Properties.
Omitted
ITEM 3. Legal Proceedings.
None.
ITEM 4. Submission of Matters to a Vote of Security Holders.
No matters were submitted to a vote of Certificateholders during the
fiscal year covered by this report.
PART II
ITEM 5. Market for Registrant's Common Equity and Related Stockholder
Matters.
The Trust does not issue stock.
There is currently no established public trading market for Registrant's
Certificates. Registrant believes the Certificates are traded primarily
in intra-dealer markets and non-centralized inter-dealer markets.
As of December 31, 2003 the number of registered holders of all class of
Certificates was 5.
ITEM 6. Selected Financial Data.
Omitted.
ITEM 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Omitted.
ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk.
Omitted.
ITEM 8. Financial Statements and Supplementary Data.
Omitted.
ITEM 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.
None.
ITEM 9A. Controls and Procedures
Not Applicable
PART III
ITEM 10. Directors and Executive Officers of Registrant.
Not Applicable.
ITEM 11. Executive Compensation.
Not Applicable.
ITEM 12. Security Ownership of Certain Beneficial Owners and Management.
Security ownership of certain beneficial owners. Under the Pooling
and Servicing Agreement governing the Trust, the holders of the
Certificates generally do not have the right to vote and are prohibited
from taking part in management of the Trust. For purposes of this Item
and Item 13 only, however, the Certificateholders are treated as "voting
security" holders.
As of December 31, 2003, the following are the only persons known to the
Registrant to be the beneficial owners of more than 5% of any class of
voting securities:
CEDEFAST
CEDE & CO FAST
P.O. BOX 20
BOWLING GREEN STATION
NEW YORK, NEW YORK, 10274
SERIES 2003-3
CLASS A-1
$345,000,000
100.0%
CEDEFAST
CEDE & CO FAST
P.O. BOX 20
BOWLING GREEN STATION
NEW YORK, NEW YORK, 10274
SERIES 2003-3
CLASS A-IO
$50,000,000
100.0%
CEDEFAST
CEDE & CO FAST
P.O. BOX 20
BOWLING GREEN STATION
NEW YORK, NEW YORK, 10274
SERIES 2003-3
CLASS M-1
$24,000,000
100.0%
CEDEFAST
CEDE & CO FAST
P.O. BOX 20
BOWLING GREEN STATION
NEW YORK, NEW YORK, 10274
SERIES 2003-3
CLASS M-2
$21,000,000
100.0%
CEDEFAST
CEDE & CO FAST
P.O. BOX 20
BOWLING GREEN STATION
NEW YORK, NEW YORK, 10274
SERIES 2003-3
CLASS B
$8,000,000
100.0%
ITEM 13. Certain Relationships and Related Transactions.
None
ITEM 14. Principal Accountant Fees and Services
NOT APPLICABLE
PART IV
ITEM 15. Exhibits, Financial Statement Schedules, and Reports on Form
8-K.
(a) The following is a list of documents filed as part of this Annual
Report on Form 10-K:
EXHIBITS 31, 99.1 and 99.2
(b) The following reports on Form 8-K were filed during the last quarter
of the period covered by this report.
Monthly Remittance Statement to the Certificate holders dated as of
October 27,2003, and filed with the Securities and Exchange Commission on
Form 8-K on October 29,2003.
Monthly Remittance Statement to the Certificate holders dated as of
November 25,2003, and filed with the Securities and Exchange Commission on
Form 8-K on November 28,2003.
Monthly Remittance Statement to the Certificate holders dated as of
December 26,2003, and filed with the Securities and Exchange Commission on
Form 8-K on January 6,2004.
(c) The exhibits required to be filed by Registrant pursuant to Item 601
of Regulation S-K are listed above and in the Exhibit Index that
immediately follows the signature page hereof.
(d) Not Applicable. The Trust does not have any subsidiaries or
affiliates. Therefore, no financial statements are filed with respect to
subsidiaries or affiliates.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
By: Impac Funding Corporation,
as Master Servicer on behalf of the Registrant
By: /s/: Richard J. Johnson
Richard J. Johnson
Executive Vice President
And Chief Financial Officer
Date: March 30, 2004
EXHIBIT INDEX
Exhibit Document
31 Section 302 Certification
99.1 Servicer's Annual Statement of Compliance for Year End
December 31,2003.
99.2 Servicer's Annual Independent Accountant's Report for Year End
December 31,2003.