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): ~~July~~August 25, 2003 IMPAC CMB TRUST SERIES 2003-7. (as Company under a Series 2003-7 Indenture, dated as of June 29,2003 providing for, inter alia, the issuance of Collateralized Asset Backed Bonds, Series 2003-7). IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003-7 (Exact name of Registrant as specified in its Charter) California (State or Other Jurisdiction of Incorporation) 333-103591-04 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 ~~July~~August 25, 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 June 30,2003. Date: Aug 0528, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~July~~August 25, 2003.

	Impac 2003-7
	Collateralized Asset-Backed Bonds
	July 25, 2003 Distribution
	August 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
			13.	Other Related Information				22
				Total Number of Pages				22
			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: June 1, 2003
	Certificate Insurer(s):		AMBAC Indemnity Corporation					Closing Date: June 30, 2003
								First Payment Date: July 25, 2003
	Servicer(s):		Impac Funding Corp. Master Servicer
			Wendover Funding, Inc. Sub-Servicer
			Countrywide Home Loans, Inc. Sub-Servicer
								Distribution Date: July 25, 2003
								Distribution Date: August 25, 2003
	Underwriter(s):		Bear, Stearns & Co. Inc Underwriter					Record Date: ~~July~~August 2422, 2003
			Countrywide Securities
						Page 1 of 22					© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Certificate Payment Report for July 25, 2003 Distribution
	Certificate Payment Report for August 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	FLT, STEP,	278,250,000.00			278,~~250~~187,~~000~~284.0083	~~277~~340,~~042~~161.3223	62524,~~715~~013.1775	~~339~~864,~~757~~174.4998	-	-	~~278~~277,~~187~~663,~~284~~271.8308
M	MEZ, FLT, S	13,500,000.00			13,~~500~~496,~~000~~957.0022	2531,~~910~~961.1654	325,~~042~~423.7885	2857,~~952~~385.9439	-	-	13,~~496~~471,~~957~~533.2237
B	SUB, FLT, S	6,000,000.00			65,~~000~~998,~~000~~647.0065	1721,~~140~~178.6356	111,~~352~~299.3549	1832,~~492~~478.9805	-	-	5,~~998~~987,~~647~~348.6516
Cert	R	-			-	~~737~~681,~~630~~894.4099	-	~~737~~681,~~630~~894.4099	-	-	-
Total		297,750,000.00			297,~~750~~682,~~000~~889.0070	1,~~057~~075,~~723~~196.5132	67560,~~110~~737.3009	1,~~124~~635,~~833~~933.8141	-	-	297,~~682~~122,~~889~~152.7061
	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	0607/3025/03	0708/24/03		A-Act/360	45254NEX1	278,250,000.00	~~1,000~~999.~~000000~~774609	01.~~995660~~222502	01.~~225391~~883248	13.~~221051~~105750	~~999~~997.~~774609~~891361
M	0607/3025/03	0708/24/03		A-Act/360	45254NEY9	13,500,000.00	~~1,000~~999.~~000000~~774609	12.~~919271~~367521	01.~~225391~~883248	24.~~144662~~250770	~~999~~997.~~774609~~891361
B	0607/3025/03	0708/24/03		A-Act/360	45254NEZ6	6,000,000.00	~~1,000~~999.~~000000~~774608	23.~~856772~~529760	01.~~225392~~883248	35.~~082163~~413008	~~999~~997.~~774608~~891360
Cert	0607/3025/03	0708/24/03		-		-	-	-	-	-	-
							Page 2 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Certificate Payment Report for July 25, 2003 Distribution
	Certificate Payment Report for August 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	278,250,000.00		~~277~~617,~~042~~203.3255		~~587~~384,309.9240	62202,~~127~~419.2552	62586,~~715~~728.1792	~~339~~1,~~757~~203,932.4947	-	-	~~278~~277,~~187~~663,~~284~~271.8308
M	13,500,000.00		2557,~~910~~871.1670		2818,645.5274	39,~~014~~820.2689	328,~~042~~466.7863	2886,~~952~~338.9433	-	-	13,~~496~~471,~~957~~533.2237
B	6,000,000.00		1738,~~140~~319.6319		128,287.6800	14,~~339~~364.6784	112,~~352~~651.3584	1850,~~492~~971.9803	-	-	5,~~998~~987,~~647~~348.6516
Cert	-		~~737~~1,~~630~~419,525.4039		-	-	-	~~737~~1,~~630~~419,525.4039	-	-	-
Total	297,750,000.00		12,~~057~~132,~~723~~919.5183		~~629~~411,242.1214	66216,~~481~~605.1825	67627,~~110~~847.3039	12,~~124~~760,~~833~~767.8122	-	-	297,~~682~~122,~~889~~152.7061
	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.~~43375~~42000%	278,~~250~~187,~~000~~284.0083			~~277~~340,~~042~~161.3223	-	-	-	~~277~~340,~~042~~161.3223	~~277~~340,~~042~~161.3223	-
M	2.~~76375~~75000%	13,~~500~~496,~~000~~957.0022			2531,~~910~~961.1654	-	-	-	~~25,910.16~~-	2531,~~910~~961.1654	-
B	4.~~11375~~10000%	65,~~000~~998,~~000~~647.0065			1721,~~140~~178.6356	-	-	-	1721,~~140~~178.6356	1721,~~140~~178.6356	-
Cert		-			-	-	-	-	~~737~~681,~~630~~894.4099	~~737~~681,~~630~~894.4099	-
Total		297,~~750~~682,~~000~~889.0070			~~320~~393,~~093~~301.1133	-	-	-	1,~~057~~043,~~723~~234.5178	1,~~057~~075,~~723~~196.5132	-
							Page 3 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report for August 25, 2003 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal Collections							67560,~~901~~737.5609
	Principal Withdrawals							0.00
	Principal Other Accounts							0.00
	TOTAL PRINCIPAL							67560,~~901~~737.5609
	Interest Collections							1,~~365~~357,~~768~~396.3531
	Interest Withdrawals							0.00
	Interest Other Accounts							(~~142~~124,~~283~~191.7338)
	Interest Fees							(~~166~~158,~~552~~008.3761)
	TOTAL INTEREST							1,~~056~~075,~~932~~196.2532
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							1,~~124~~635,~~833~~933.8141
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal							66150,~~481~~124.1807
	Curtailments							194,~~420~~166.3802
	Prepayments in Full							0316,447.00
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Delinquent Principal							(924,~~583~~724.7324)
	Realized Losses							0.00
	Substitution Adjustments- Principal							0.00
	Termination Price Amounts- Principal							0.00
	Additional Principal Amts							0.00
	Principal Advanced							924,~~583~~724.7324
	TOTAL PRINCIPAL							67560,~~901~~737.5609
				Page 4 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report for August 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							1,373,~~215~~275.8385
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Interest							0.00
	Other Additional Interest							0.00
	Prepayment Interest Shortfalls							0(517.0001)
	Relief Act Interest Shortfalls							0.00
	Delinquent Interest							(~~106~~230,~~790~~214.5826)
	Interest Realized Losses							0.00
	Compensating Interest							0517.0001
	Substitution Adjustments- Interest							0.00
	Termination Price Amounts- Interest							0.00
	Additional Interest Amts							0.00
	Interest Prepayment Premiums							0.00
	Interest Advanced							99214,~~343~~334.1072
	Cap Contract Payment Amt							0.00
	TOTAL INTEREST							1,~~365~~357,~~768~~396.3531
				Page 5 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report for August 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
	Cap Contract Payment Amounts							0.00
	Floor Contract Payment Amounts							0.00
	Swap Contract Payment Amounts							~~142~~124,~~283~~191.7338
INTEREST - FEES								TOTAL
	Owner Trustee Fee							~~425~~424.0090
	Indenture Trustee Fee							1,312.5021
	Bond Insurance Premium Amount							4443,~~046~~963.2235
	Radian PMI Insurance Premiums							26,~~965~~960.8535
	Current Servicing Fees							9385,~~802~~347.80
	TOTAL INTEREST FEES							~~166~~158,~~552~~008.3761
				Page 6 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Credit Enhancement Report for July 25, 2003 Distribution
	Credit Enhancement Report for August 25, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES								TOTAL
	Current Periods Required Overcollateralization Amt							2,250,005.98
	Current Periods Overcollateralization Amt							2,250,005.98
	Current Periods Extra Principal Distribution							0.00
	Current Periods Net Monthly Excess Cashflow							~~737~~681,~~630~~894.4099
	Current Periods Overcollateralization Release							~~791~~0.2600
	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%
	Available Funds Rate							54.~~1116~~1941%
				Page 7 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for July 25, 2003 Distribution
	Collateral Report for August 25, 2003 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							1169
	Prior							-1,169
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							-(2)
	Repurchases							-
	Liquidations							-
	Current							1,~~169~~167
	Principal Balance:
	Original							300,000,797.24
	Prior							-299,932,895.68
	Prefunding							-
	Scheduled Principal							(66150,~~481~~124.1807)
	Partial and Full Voluntary Prepayments							(1410,~~420~~613.3802)
	Repurchases							-
	Liquidations							-
	Current							299,~~932~~372,~~895~~158.6859
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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for July 25, 2003 Distribution
	Collateral Report for August 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							5.492849%
	Weighted Average Coupon Prior							5.492849%
	Weighted Average Coupon Current							5.~~492849~~494332%
	Weighted Average Months to Maturity Original							359
	Weighted Average Months to Maturity Prior							-359
	Weighted Average Months to Maturity Current							~~359~~358
	Weighted Avg Remaining Amortization Term Original							359
	Weighted Avg Remaining Amortization Term Prior							-359
	Weighted Avg Remaining Amortization Term Current							~~359~~358
	Weighted Average Seasoning Original							1.14
	Weighted Average Seasoning Prior							-1.14
	Weighted Average Seasoning Current							12.14
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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for July 25, 2003 Distribution
	Collateral Report for August 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							3.121%
	Weighted Average Margin Prior							03.~~000~~121%
	Weighted Average Margin Current							3.121%
	Weighted Average Max Rate Original							11.511%
	Weighted Average Max Rate Prior							011.~~000~~511%
	Weighted Average Max Rate Current							11.511%
	Weighted Average Min Rate Original							3.250%
	Weighted Average Min Rate Prior							03.~~000~~250%
	Weighted Average Min Rate Current							3.250%
	Weighted Average Cap Up Original							1.010%
	Weighted Average Cap Up Prior							01.~~000~~010%
	Weighted Average Cap Up Current							1.010%
	Weighted Average Cap Down Original							1.010%
	Weighted Average Cap Down Prior							01.~~000~~010%
	Weighted Average Cap Down Current							1.010%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							9385,~~802~~347.80
	Delinquent Servicing Fees							715,~~447~~879.4755
	TOTAL SERVICING FEES							101,~~250~~227.2735
	Total Servicing Fees							101,~~250~~227.2735
	Compensating Interest							0517.0001
	Delinquent Servicing Fees							(715,~~447~~879.4755)
	COLLECTED SERVICING FEES							9385,~~802~~864.8081
	Current PPIS							0517.0001
	Current Net PPIS							01,034.0002
	Total Advanced Principal For Current Payment Date							924,~~583~~724.7324
	Total Advanced Interest For Current Payment Date							99214,~~343~~334.1072
	TOTAL ADVANCES FOR CURRENT PERIOD							~~108~~239,~~926~~058.8396
ADDITIONAL COLLATERAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 10 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report for August 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
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		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	REO Report for July 25, 2003 Distribution
	REO Report for August 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Adjustable 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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							-2
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							-2
	Paid in Full Balance							-316,447.00
	Repurchased Loans Balance							-
	Curtailments Amount							194,~~420~~166.3802
	Total Prepayment Amount							1410,~~420~~613.3802
	Cumulative
	Number of Paid in Full Loans							-2
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							-2
	Paid in Full Balance							-316,447.00
	Repurchased Loans Balance							-
	Curtailments Amount							195,~~420~~586.3840
	Total Prepayment Amount							1412,~~420~~033.3840
	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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							0.0014%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.0007%
	CPR							01.0163%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off							0.0182%
	PSA							2380.4827%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							2249.4884%
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 14 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report for August 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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report for August 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Adjustable Group
Total Loan Count = 2						Loan Group 1 = Adjustable Group
Total Original Principal Balance = 0.00
Total Original Principal Balance = 316,447.00
Total Prepayment Amount = 0.00
Total Prepayment Amount = 316,447.00
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
SPACE INTENTIONALLY LEFT BLANK
1100378282 1			176,947.00	176,947.00	Jul-23-03	6.250%	CA - 80.00%	Paid Off - 360	Jun-19-03
1100378927 1			139,500.00	139,500.00	Jul-21-03	7.000%	FL - 90.00%	Paid Off - 360	Jun-26-03
					Page 16 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report for August 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 Percentage For Related Payment Date							0.0000%
							3 Months Moving Average
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 17 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%
	CDR							0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%
	SDA							0.00%
	3 Months Avg SDA Approximation
	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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report for August 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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Detail Report for July 25, 2003 Distribution
	Realized Loss Detail Report for August 25, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Adjustable 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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
	Current Periods Basis Risk Shortfall Carry Forward Amt							0.00
	Cumulative Basis Risk Shortfall Carry Forward Amt							0.00
	Current Periods LIBOR Rate							1.~~1138~~1000%
ADDITIONAL INFORMATION								TOTAL
	Current Periods Net Mortgage Rate							4.~~9730~~9745%
				Page 21 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Other Related Information for July 25, 2003 Distribution
	Other Related Information for August 25, 2003 Distribution
	Other Related Information
ADDITIONAL INFORMATION								TOTAL
	Total Derivative Payments							~~142~~124,~~283~~191.7338
	FXIMP037A1							76,~~675~~809.8803
	FXIMP037B1							6454,~~633~~936.7035
	FXIMP037C1							1613,~~646~~065.2589
	FXIMP037D1							1312,~~394~~094.0862
	FXIMP037E1							32,~~225~~796.0069
	FXIMP037F1							3129,~~421~~633.3208
	FXIMP037G1							54,~~287~~855.5072
				Page 22 of 22				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003 7