~~Item~~SECURITIES ~~601(a)~~AND ofEXCHANGE ~~Sequentially~~COMMISSION ~~Exhibit~~Washington, ~~Regulation~~D.C. S20549 FORM 8-K ~~Numbered~~Current ~~Number~~Report ~~S-K~~Pursuant ~~Exhibit~~To ~~No.~~Section ~~Description~~13 ~~Page~~or ~~------~~15(d) ~~---------------~~of ~~-----------~~the ~~----~~Securities ~~3.1~~Exchange ~~Amended~~Act ~~and~~of ~~Restated~~1934 ~~Trust~~Date ~~Agreement,~~of ~~dated~~Report as(Date of ~~January~~earliest 30event reported): April 25, 2003, ~~among~~IMPAC ~~IMH~~CMB ~~Assets~~TRUSR ~~Corp~~SERIES., (as ~~Depositor,~~Company ~~Wilmington~~under ~~Trust~~a ~~Company,~~Series as2003-2F ~~Owner~~Indenture, ~~Trustee~~dated ~~and~~as ~~Deutsche~~of ~~Bank~~January ~~National~~30,2003 ~~Trust~~providing ~~Company~~for, asinter ~~Certificate~~alia, ~~Registrar~~the ~~and~~issuance ~~Certificate~~of ~~Paying Agent,~~ Collateralized Asset- Backed Bonds, Series 2003-2F). ~~4.1~~IMH ~~Indenture~~ASSETS ~~dated~~CORP asIMPAC ofCMB ~~January~~TRUST ~~30,~~SERIES 2003,-2F ~~between~~(Exact ~~Impac~~name ~~CMB~~of ~~Trust~~Registrant ~~Series~~as ~~2003~~specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-~~2F,~~83600-06 as33-0705301 ~~Issuer~~(Commission ~~and~~File ~~Deutsche~~Number) ~~Bank~~(I.R.S. ~~National~~Employer ~~Trust~~Identification ~~Company,~~No.) as1401 ~~Indenture~~DOVE ~~Trustee~~STREET NEWPORT BEACH, ~~Collateralized~~CALIFORNIA ~~Asset-Backed~~92660 ~~Bonds~~(Address of principal executive offices) (Zip Code) Registrant's Telephone Number, ~~Series~~Including ~~2003~~Area Code: (949) 475-2F3600 Item 5. 99Other 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.1 ~~Servicing~~Item ~~Agreement,~~7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of ~~January~~April 3025, 2003,.. ~~between~~SIGNATURE ~~Impac~~Pursuant ~~Funding~~to ~~Corporation~~the ~~(formerly~~requirements ~~known~~of asthe ~~ICI~~Securities ~~Funding~~Exchange ~~Corporation)~~Act of 1934, asthe ~~Master~~Registrant ~~Servicer,~~has ~~Impac~~duly ~~CMB~~caused ~~Trust~~this ~~Series~~report ~~2003-2F~~to be signed on its behalf by the undersigned, ashereunto ~~Issuer~~duly ~~and~~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, ~~Trustee~~dated as of January 30,2003. ~~Collateralized~~Date: ~~Asset-Backed~~May ~~Bonds~~01, ~~Series~~2003 By: /s/ David Co David Co Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of April 25, 2003~~-2F~~.


	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds


	April 25, 2003 Distribution


	Contents



			TABLE OF CONTENTS

								Page

			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				12
			8.	Prepayment Report				13
			9.	Prepayment Detail Report				16
			10.	Realized Loss Report				17
			11.	Realized Loss Detail Report				20
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				21





				Total Number of Pages				21



			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: January 1, 2003
	Certificate Insurer(s):							Closing Date: January 30, 2003
								First Payment Date: February 25, 2003
	Servicer(s):		Impac Funding Corporation Master Servicer


								Distribution Date: April 25, 2003
	Underwriter(s):		Bear, Stearns & Co. Inc Lead Underwriter					Record Date: March 31, 2003







						Page 1 of 21					© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Certificate Payment Report for April 25, 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)

A-1	STEP	235,583,000.00			235,227,790.14	927,023.70	1,050,297.65	1,977,321.35	-	-	234,177,492.49
A-IO	IO,NTL	-			-	165,410.41	-	165,410.41	-	-	-
M-1	MEZ,STEP	11,912,000.00			11,894,039.20	53,225.83	53,107.17	106,333.00	-	-	11,840,932.03
M-2	MEZ,STEP	10,588,000.00			10,572,035.51	49,071.86	47,204.39	96,276.25	-	-	10,524,831.12
B	SUB,STEP	5,294,000.00			5,286,017.76	26,430.09	23,602.19	50,032.28	-	-	5,262,415.57
Cert	R	-			-	172,329.27	-	172,329.27	-	-	-


Total		263,377,000.00			262,979,882.61	1,393,491.16	1,174,211.40	2,567,702.56	-	-	261,805,671.21


	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
							(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	03/01/03	03/25/03		F-30/360	45254NDQ7	235,583,000.00	998.492209	3.935020	4.458291	8.393311	994.033918
A-IO	03/01/03	03/25/03		F-30/360	45254NDR5	33,088,000.00	1,000.000000	4.999106	-	4.999106	1,000.000000
M-1	03/01/03	03/25/03		F-30/360	45254NDS3	11,912,000.00	998.492210	4.468253	4.458292	8.926545	994.033918
M-2	03/01/03	03/25/03		F-30/360	45254NDT1	10,588,000.00	998.492209	4.634668	4.458291	9.092959	994.033918
B	03/01/03	03/25/03		F-30/360	45254NDU8	5,294,000.00	998.492210	4.992461	4.458291	9.450752	994.033920
Cert	03/01/03	03/25/03		F-30/360		-	-	-	-	-	-


							Page 2 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Certificate Payment Report for April 25, 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)

A-1	235,583,000.00		2,784,173.41		858,045.51	547,462.00	1,405,507.51	4,189,680.92	-	-	234,177,492.49
A-IO	-		496,124.21		-	-	-	496,124.21	-	-	-
M-1	11,912,000.00		159,828.69		43,386.14	27,681.83	71,067.97	230,896.66	-	-	11,840,932.03
M-2	10,588,000.00		147,355.00		38,563.85	24,605.03	63,168.88	210,523.88	-	-	10,524,831.12
B	5,294,000.00		79,365.35		19,281.91	12,302.52	31,584.43	110,949.78	-	-	5,262,415.57
Cert	-		490,098.61		-	-	-	490,098.61	-	-	-


Total	263,377,000.00		4,156,945.27		959,277.41	612,051.38	1,571,328.79	5,728,274.06	-	-	261,805,671.21


	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)

A-1	4.73000%	235,227,790.14			927,189.54	-	-	-	927,053.29	927,023.70	165.84
A-IO	6.00000%	33,088,000.00			165,440.00	-	-	-	165,576.25	165,410.41	29.59
M-1	5.37000%	11,894,039.20			53,225.83	-	-	-	53,225.83	53,225.83	9.52
M-2	5.57000%	10,572,035.51			49,071.86	-	-	-	49,071.86	49,071.86	8.78
B	6.00000%	5,286,017.76			26,430.09	-	-	-	26,430.09	26,430.09	4.73
Cert		-			-	-	-	-	172,329.27	172,329.27	-


Total		296,067,882.61			1,221,357.32	-	-	-	1,393,686.59	1,393,491.16	218.45


							Page 3 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collection Account Report for April 25, 2003 Distribution


	Collection Account Report


SUMMARY								TOTAL

	Principal Collections							1,174,211.40
	Principal Withdrawals							0.00
	Principal Other Accounts							0.00
	TOTAL PRINCIPAL							1,174,211.40

	Interest Collections							1,462,185.37
	Interest Withdrawals							0.00
	Interest Other Accounts							0.00
	Interest Fees							(68,694.21)
	TOTAL INTEREST							1,393,491.16

	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							2,567,702.56


PRINCIPAL - COLLECTIONS								TOTAL

	Scheduled Principal							306,640.55
	Curtailments							40,796.05
	Prepayments in Full							826,774.80
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Delinquent Principal							(5,896.18)
	Realized Losses							0.00
	Substitution Adjustments- Principal							0.00
	Termination Price Amounts- Principal							0.00
	Additional Principal Amts							0.00
	Principal Advanced							5,896.18

	TOTAL PRINCIPAL							1,174,211.40


				Page 4 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collection Account Report for April 25, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS								TOTAL

	Scheduled Interest							1,464,008.22
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Interest							0.00
	Other Additional Interest							0.00
	Prepayment Interest Shortfalls							0.00
	Relief Act Interest Shortfalls							(218.45)
	Delinquent Interest							(40,897.48)
	Interest Realized Losses							0.00
	Compensating Interest							0.00
	Substitution Adjustments- Interest							0.00
	Termination Price Amounts- Interest							0.00
	Additional Interest Amts							0.00
	Interest Prepayment Premiums							0.00
	Interest Advanced							39,293.08
	Cap Contract Payment Amt							0.00


	TOTAL INTEREST							1,462,185.37


				Page 5 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collection Account Report for April 25, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS								TOTAL

	Prev. 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								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - FEES								TOTAL

	Owner Trustee Fee							374.43
	Indenture Trustee Fee							1,927.21
	Bond Insurance Premium Amount							0.00
	Radian PMI Insurance Premiums							6,326.18
	Current Servicing Fees							60,066.39

	TOTAL INTEREST FEES							68,694.21


				Page 6 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Credit Enhancement Report for April 25, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES								TOTAL


	Current Periods Overcollateralization Target Amt							1,323,501.00
	Current Periods Overcollateralization Amt							1,323,501.00
	Current Periods Extra Principal Distribution							0.00
	Current Periods Principal Available Funds Shortfall							0.00
	Current Periods Net Monthly Excess Cashflow							172,352.29
	Current Periods Overcollateralization Increase							0.00
	Current Periods Overcollateralization Release							0.00
	60 Day Rolling Delinquency Amount							0.00
	90 Day Rolling Delinquency Amount							0.00

	60 Day Delinquency Percentage							0.0000%
	90 Day Delinquency Percentage							0.0000%



				Page 7 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collateral Report for April 25, 2003 Distribution


	Collateral Report


COLLATERAL								TOTAL
	Loan Count:
	*Original*							1223
	Prior							1,222
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(4)
	Repurchases							-
	Liquidations							-
	Current							1,218

	*Principal Balance:*
	Original							265,000,063.42
	Prior							264,303,383.61
	Prefunding							-
	Scheduled Principal							(306,640.55)
	Partial and Full Voluntary Prepayments							(867,570.85)
	Repurchases							-
	Liquidations							-
	Current							263,129,172.21

PREFUNDING								TOTAL
SPACE INTENTIONALLY LEFT BLANK




Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collateral Report for April 25, 2003 Distribution


	Collateral Report


CHARACTERISTICS								TOTAL

	Weighted Average Coupon Original							5.085810%
	Weighted Average Coupon Prior							6.645499%
	Weighted Average Coupon Current							6.646944%
	Weighted Average Months to Maturity Original							338
	Weighted Average Months to Maturity Prior							337
	Weighted Average Months to Maturity Current							336
	Weighted Avg Remaining Amortization Term Original							340
	Weighted Avg Remaining Amortization Term Prior							338
	Weighted Avg Remaining Amortization Term Current							337
	Weighted Average Seasoning Original							0.84
	Weighted Average Seasoning Prior							1.84
	Weighted Average Seasoning Current							2.84

Note: Original information refers to deal issue.




WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Collateral Report for April 25, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS								TOTAL

	Weighted Average Margin Original							0.000%
	Weighted Average Margin Prior							0.000%
	Weighted Average Margin Current							0.000%
	Weighted Average Max Rate Original							0.000%
	Weighted Average Max Rate Prior							0.000%
	Weighted Average Max Rate Current							0.000%
	Weighted Average Min Rate Original							0.000%
	Weighted Average Min Rate Prior							0.000%
	Weighted Average Min Rate Current							0.000%
	Weighted Average Cap Up Original							0.000%
	Weighted Average Cap Up Prior							0.000%
	Weighted Average Cap Up Current							0.000%
	Weighted Average Cap Down Original							0.000%
	Weighted Average Cap Down Prior							0.000%
	Weighted Average Cap Down Current							0.000%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES								TOTAL

	Current Servicing Fees							60,066.39
	Delinquent Servicing Fees							1,604.40
	TOTAL SERVICING FEES							61,670.79

	Total Servicing Fees							61,670.79
	Compensating Interest							0.00
	Delinquent Servicing Fees							(1,604.40)
	COLLECTED SERVICING FEES							60,066.39

	Current PPIS							0.00
	Current Net PPIS							0.00

	Total Advanced Principal For Current Payment Date							5,896.18
	Total Advanced Interest For Current Payment Date							39,293.08
	TOTAL ADVANCES FOR CURRENT PERIOD							45,189.26


ADDITIONAL COLLATERAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


				Page 10 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Delinquency Report for April 25, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			513,156.36	-	-	513,156.36
		% Balance			0.20%	0.00%	0.00%	0.20%
		# Loans			3	-	-	3
		% # Loans			0.25%	0.00%	0.00%	0.25%
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		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	513,156.36	-	-	513,156.36
		% Balance		0.00%	0.20%	0.00%	0.00%	0.20%
		# Loans		-	3	-	-	3
		% # Loans		0.00%	0.25%	0.00%	0.00%	0.25%
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 11 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	REO Report for April 25, 2003 Distribution


	REO Report - Mortgage Loans that Become REO During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 0				Loan Group 1 = Fixed Group; REO Book Value = 000.00
Total Original Principal Balance = 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 12 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Prepayment Report for April 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS								TOTAL

	*Current*
	Number of Paid in Full Loans							4
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							4

	Paid in Full Balance							826,774.80
	Repurchased Loans Balance							-
	Curtailments Amount							40,796.05
	Total Prepayment Amount							867,570.85

	*Cumulative*
	Number of Paid in Full Loans							5
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							5

	Paid in Full Balance							914,294.97
	Repurchased Loans Balance							-
	Curtailments Amount							99,474.57
	Total Prepayment Amount							1,013,769.54


	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 13 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Prepayment Report for April 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES								TOTAL

	SMM							0.33%
	3 Months Avg SMM							0.13%
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.13%

	CPR							3.87%
	3 Months Avg CPR							1.53%
	12 Months Avg CPR
	Avg CPR Since Cut-off							1.53%

	PSA							682.30%
	3 Months Avg PSA Approximation							414.10%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							414.10%







CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 14 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Prepayment Report for April 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments




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 15 of 21				© COPYRIGHT 2003 Deutsche Bank


	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Prepayment Detail Report for April 25, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 4						Loan Group 1 = Fixed Group
Total Original Principal Balance = 829,830.00
Total Prepayment Amount = 826,774.80


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

1100361225 1			106,380.00	106,168.19	Mar-27-03	9.500%	FL - 90.00%	Paid Off - 360	Dec-31-02
1100363382 1			517,500.00	515,040.90	Mar-25-03	7.250%	MI - 75.00%	Paid Off - 360	Oct-11-02
1103009552 1			91,800.00	91,594.33	Mar-24-03	7.500%	CA - 90.00%	Paid Off - 360	Jan-10-03
2500022927 1			114,150.00	113,971.38	Mar-12-03	7.250%	NV - 89.98%	Paid Off - 360	Dec-30-02


					Page 16 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Realized Loss Report for April 25, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES								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.


	Cumulative Loss For Related Payment Date							0.0000%
	Cumulative Loss Percentage For Related Payment Date							0.0000%


							3 Months Moving Average


Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 17 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Realized Loss Report for April 25, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS								TOTAL

	MDR							0.00%
	3 Months Avg MDR							0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%

	CDR							0.00%
	3 Months Avg CDR							0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%

	SDA							0.00%
	3 Months Avg SDA Approximation							0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							0.00%

	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



CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 18 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Realized Loss Report for April 25, 2003 Distribution


	Realized Loss Report - Collateral




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 19 of 21				© COPYRIGHT 2003 Deutsche Bank


	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Realized Loss Detail Report for April 25, 2003 Distribution


	Realized Loss Detail Report - Loans Liquidated During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 0						Loan Group 1 = Fixed Group
Total Original Principal Balance = 0.00
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 20 of 21				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-2F
	Collateralized Asset-Backed Bonds
	Series 2003-2F
	Triggers, Adj. Rate Cert. and Miscellaneous Report for April 25, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION								TOTAL


	Current Net Mortgage Rate							6.3278%


				Page 21 of 21				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003-2F