UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-K

(Mark one)

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2001

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

Commission File Number: 333-53986-01

Impac Funding Corporation
Mortgage Pass-Through Certificates
Series 2001-2

(Exact name of registrant as specified in its charter)

New York 52-2289287
52-2289309
52-2289310
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

c/o Wells Fargo Bank Minnesota, N.A.
11000 Broken Land Parkway
Columbia, MD 21044
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (410) 884-2000

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 ( 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.

Not applicable.

State the aggregate market value of the voting and non-voting common
equity held by non-affiliates of the registrant. The aggregate market
value shall be computed by reference to the price at which the common
equity was sold, or the average bid and asked prices of such common
equity, as of a specified date within 60 days prior to the date of
filing. (See definition of affiliate in Rule 405, 17 CFR 230.405.)

Not applicable.

Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date.

Not applicable.

List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g. Part I, Part II, etc..) into which the
document is incorporated: (1)Any annual report to security holders; (2)
Any proxy or information statement; and (3)Any prospectus filed pursuant
to Rule 424(b) or (c) under the Securities Act of 1933. The listed
documents should be clearly described for identification purposes (e.g.
annual report to security holders for fiscal year ended December 24, 1980).

Not applicable.

PART I

Item 1. Business.

Omitted.

Item 2. Properties.

See Item 14(a), Exhibits 99.1, 99.2, and 99.3, for information
provided in lieu of information required by Item 102 of
Regulation S-K.

Item 3. Legal Proceedings.

The registrant knows of no material pending legal proceedings
involving the trusts created under the Pooling and Servicing
Agreement (the Trusts), the Trustee, the Servicer or the
registrant with respect to the Trusts other than routine
litigation incidental to the duties of the respective parties.

Item 4. Submission of Matters to a Vote of Security Holders.

None.

PART II

Item 5. Market for registrant's Common Equity and Related Stockholder
Matters.

No established public trading market for the Certificates exists.

Records provided to the Trust by the DTC and the Trustee
indicate that as of December 31, 2001, the number of holders of
record for each class of Certificate were as follows:

Class A-1 7
Class A-2 7
Class A-3 1
Class A-4 16
Class A-5 1
Class A-IO 1
Class B 1
Class M-1 1
Class M-2 1
Class R-3 1
Class X 1

Total: 38

Item 6. Selected Financial Data.

Omitted.

Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.

Omitted.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

Item 8. Financial Statements and Supplementary Data.

See Item 14(a), Exhibits 99.1, 99.2, 99.3, for information
provided in lieu of information required by Item 302 of
Regulation S-K.

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

None.

PART III

Item 10. Directors and Executive Officers of the Registrant.

Not applicable.

Item 11. Executive Compensation.

Not applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

Not applicable.

Item 13. Certain Relationships and Related Transactions.

Not applicable.

PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

(a) Exhibits

(99.1) Annual Independent Accountants' Servicing Reports concerning
servicing activities for the year ended December 31, 2001.

a) Impac Funding Corporation, as Servicer <F1>

(99.2) Report of Management as to Compliance with Minimum Servicing
Standards for the year ended December 31, 2001.

a) Impac Funding Corporation, as Servicer <F1>

(99.3) Annual Statements of Compliance under the Pooling and Servicing
Agreements for the year ended December 31, 2001.

a) Impac Funding Corporation, as Servicer <F1>

(99.4) Aggregate Statement of Principal and Interest Distributions to
Certificate Holders.

(b) On November 07, 2001, December 11, 2001, and January 10, 2002
reports on Form 8-K were filed by the Company in order to provide
the statements for the monthly distributions to holders of the
Certificates. No other reports on Form 8-K have been filed during
the last quarter of the period covered by this report.

(d) Omitted.

<F1> Such document (i) is not filed herewith since such document was not
received by the reporting person at least three business days prior to
the due date covered by this report, and (ii) will be included in an
amendment to this report on Form 10-K/A to be filed within 30 days of the
Reporting Person's receipt of such document.

SIGNATURES

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:

Impac Funding Corporation
Mortgage Pass-Through Certificates
Series 2001-2
(Registrant)

Signed: Wells Fargo Bank Minnesota, N.A. as Trustee

By: Beth Belfield, Officer

By: /s/ Beth Belfield, Officer

Dated: March 19, 2002

SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

(a)(i) No annual report is provided to the Certificateholders other than
with respect to aggregate principal and interest distributions.

(a)(ii) No proxy statement, form of proxy or other proxy soliciting
material has been sent to any Certificateholder with respect to any
annual or other meeting of Certificateholders.

Ex-99.4
Schedule of Year-To-Date Principal and Interest Distributions to
Certificateholders

Class Interest Principal Losses Ending Balance
<s> <c> <c> <c> <c>
A-1 2,583,969.32 34,667,262.26 0.00 35,482,737.75
A-2 3,367,678.22 0.00 0.00 70,379,900.00
A-3 1,643,734.35 0.00 0.00 32,517,000.00
A-4 2,599,196.31 0.00 0.00 47,023,000.00
A-5 1,260,000.00 0.00 0.00 25,000,000.00
A-IO 1,468,749.99 0.00 0.00 0.00
B 37,510.83 0.00 0.00 625,180.00
M-1 150,041.97 0.00 0.00 2,500,700.00
M-2 112,532.40 0.00 0.00 1,875,540.00
MBIA 0.00 0.00 0.00 0.00
R-1 0.50 100.00 0.00 0.00
R-2 0.00 0.00 0.00 0.00
R-3 0.00 0.00 0.00 0.00
X 217,636.19 0.00 0.00 1,250,000.00