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): ~~August~~September 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 ~~August~~September 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~~Oct 2801, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~August~~September 25, 2003.

	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	August 25, 2003 Distribution
	September 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: August 25, 2003
								Distribution Date: September 25, 2003
	Underwriter(s):		Bear, Stearns & Co. Inc Underwriter					Record Date: ~~August~~September 2224, 2003
			Countrywide Securities
						Page 1 of 22					© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Certificate Payment Report for August 25, 2003 Distribution
	Certificate Payment Report for September 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~~277,~~187~~663,~~284~~271.8308	~~340~~341,~~161~~911.2347	~~524~~2,~~013~~136,930.7544	~~864~~2,~~174~~478,841.9891	-	-	~~277~~275,~~663~~526,~~271~~340.0864
M	MEZ, FLT, S	13,500,000.00			13,~~496~~471,~~957~~533.2237	3132,~~961~~017.5434	25103,~~423~~678.8557	57135,~~385~~695.3991	-	-	13,~~471~~367,~~533~~854.3780
B	SUB, FLT, S	6,000,000.00			5,~~998~~987,~~647~~348.6516	21,~~178~~190.5622	1146,~~299~~079.4936	3267,~~478~~269.0558	-	-	5,~~987~~941,~~348~~268.1680
Cert	R	-			-	~~681~~679,~~894~~788.9997	-	~~681~~679,~~894~~788.9997	-	-	-
Total		297,750,000.00			297,~~682~~122,~~889~~152.7061	1,~~075~~074,~~196~~908.3200	~~560~~2,~~737~~286,688.0937	13,~~635~~361,~~933~~596.4137	-	-	~~297~~294,~~122~~835,~~152~~464.6124
	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	0708/25/03	0809/24/03		A-Act/360	45254NEX1	278,250,000.00	~~999~~997.~~774609~~891361	1.~~222502~~228792	17.~~883248~~679894	38.~~105750~~908686	~~997~~990.~~891361~~211467
M	0708/25/03	0809/24/03		A-Act/360	45254NEY9	13,500,000.00	~~999~~997.~~774609~~891361	2.~~367521~~371655	17.~~883248~~679894	410.~~250770~~051549	~~997~~990.~~891361~~211467
B	0708/25/03	0809/24/03		A-Act/360	45254NEZ6	6,000,000.00	~~999~~997.~~774608~~891360	3.~~529760~~531703	17.~~883248~~679893	511.~~413008~~211597	~~997~~990.~~891360~~211467
Cert	0708/25/03	0809/24/03		-		-	-	-	-	-	-
							Page 2 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Certificate Payment Report for August 25, 2003 Distribution
	Certificate Payment Report for September 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		~~617~~959,~~203~~115.5502		~~384~~2,~~309~~381,654.4074	~~202~~342,~~419~~004.5262	~~586~~2,~~728~~723,659.9236	13,~~203~~682,~~932~~774.4738	-	-	~~277~~275,~~663~~526,~~271~~340.0864
M	13,500,000.00		5789,~~871~~889.7004		18115,~~645~~551.7498	916,~~820~~593.8922	28132,~~466~~145.6320	86222,~~338~~034.3324	-	-	13,~~471~~367,~~533~~854.3780
B	6,000,000.00		3859,~~319~~509.1941		851,~~287~~356.0044	47,~~364~~374.8476	1258,~~651~~731.8420	50118,~~971~~240.0361	-	-	5,~~987~~941,~~348~~268.1680
Cert	-		12,~~419~~099,~~525~~314.3936		-	-	-	12,~~419~~099,~~525~~314.3936	-	-	-
Total	297,750,000.00		23,~~132~~207,~~919~~827.83		~~411~~2,~~242~~548,563.1416	~~216~~365,~~605~~972.2560	~~627~~2,~~847~~914,535.3976	26,~~760~~122,~~767~~363.2259	-	-	~~297~~294,~~122~~835,~~152~~464.6124
	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.~~42000~~43000%	~~278~~277,~~187~~663,~~284~~271.8308			~~340~~341,~~161~~911.2347	-	-	-	~~340~~341,~~161~~911.2347	~~340~~341,~~161~~911.2347	-
M	2.~~75000~~76000%	13,~~496~~471,~~957~~533.2237			3132,~~961~~017.5434	-	-	-	-	3132,~~961~~017.5434	-
B	4.~~10000~~11000%	5,~~998~~987,~~647~~348.6516			21,~~178~~190.5622	-	-	-	21,~~178~~190.5622	21,~~178~~190.5622	-
Cert		-			-	-	-	-	~~681~~679,~~894~~788.9997	~~681~~679,~~894~~788.9997	-
Total		297,~~682~~122,~~889~~152.7061			~~393~~395,~~301~~119.3303	-	-	-	1,~~043~~042,~~234~~890.7866	1,~~075~~074,~~196~~908.3200	-
							Page 3 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for August 25, 2003 Distribution
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal Collections							~~560~~2,~~737~~286,688.0937
	Principal Withdrawals							0.00
	Principal Other Accounts							0.00
	TOTAL PRINCIPAL							~~560~~2,~~737~~286,688.0937
	Interest Collections							1,~~357~~286,~~396~~425.3188
	Interest Withdrawals							0.00
	Interest Other Accounts							(~~124~~121,~~191~~960.3889)
	Interest Fees							(~~158~~89,~~008~~556.6199)
	TOTAL INTEREST							1,~~075~~074,~~196~~908.3200
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							13,~~635~~361,~~933~~596.4137
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal							~~150~~149,~~124~~367.0735
	Curtailments							9424,~~166~~306.0224
	Prepayments in Full							~~316~~2,~~447~~113,014.0078
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Delinquent Principal							(24125,~~724~~560.2411)
	Realized Losses							0.00
	Substitution Adjustments- Principal							0.00
	Termination Price Amounts- Principal							0.00
	Additional Principal Amts							0.00
	Principal Advanced							24125,~~724~~560.2411
	TOTAL PRINCIPAL							~~560~~2,~~737~~286,688.0937
				Page 4 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for August 25, 2003 Distribution
	Collection Account Report for September 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~~370,~~275~~209.8584
	Repurchases/Substitutions							0.00
	Liquidations							0.00
	Insurance Interest							0.00
	Other Additional Interest							0.00
	Prepayment Interest Shortfalls							(~~517~~3,334.0181)
	Relief Act Interest Shortfalls							0.00
	Delinquent Interest							(~~230~~1,~~214~~145,619.2608)
	Interest Realized Losses							0.00
	Compensating Interest							~~517~~3,334.0181
	Substitution Adjustments- Interest							0.00
	Termination Price Amounts- Interest							0.00
	Additional Interest Amts							0.00
	Interest Prepayment Premiums							0.00
	Interest Advanced							~~214~~1,~~334~~061,835.7212
	Cap Contract Payment Amt							0.00
	TOTAL INTEREST							1,~~357~~286,~~396~~425.3188
				Page 5 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collection Account Report for August 25, 2003 Distribution
	Collection Account Report for September 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							~~124~~121,~~191~~960.3889
INTEREST - FEES								TOTAL
	Owner Trustee Fee							424.9011
	Indenture Trustee Fee							1,~~312~~309.2175
	Bond Insurance Premium Amount							43,~~963~~625.3500
	Radian PMI Insurance Premiums							26,~~960~~943.3598
	Current Servicing Fees							8517,~~347~~254.8015
	TOTAL INTEREST FEES							~~158~~89,~~008~~556.6199
				Page 6 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Credit Enhancement Report for August 25, 2003 Distribution
	Credit Enhancement Report for September 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							~~681~~679,~~894~~788.9997
	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%
	Available Funds Rate							4.~~1941~~1999%
				Page 7 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for August 25, 2003 Distribution
	Collateral Report for September 25, 2003 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							1169
	Prior							1,~~169~~167
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(27)
	Repurchases							-
	Liquidations							-
	Current							1,~~167~~160
	Principal Balance:
	Original							300,000,797.24
	Prior							299,~~932~~372,~~895~~158.6859
	Prefunding							-
	Scheduled Principal							(~~150~~149,~~124~~367.0735)
	Partial and Full Voluntary Prepayments							(~~410~~2,~~613~~137,321.02)
	Repurchases							-
	Liquidations							-
	Current							~~299~~297,~~372~~085,~~158~~470.5922
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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for August 25, 2003 Distribution
	Collateral Report for September 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							5.492849%
	Weighted Average Coupon Prior							5.~~492849~~494332%
	Weighted Average Coupon Current							5.~~494332~~492334%
	Weighted Average Months to Maturity Original							359
	Weighted Average Months to Maturity Prior							~~359~~358
	Weighted Average Months to Maturity Current							~~358~~357
	Weighted Avg Remaining Amortization Term Original							359
	Weighted Avg Remaining Amortization Term Prior							~~359~~358
	Weighted Avg Remaining Amortization Term Current							~~358~~357
	Weighted Average Seasoning Original							1.14
	Weighted Average Seasoning Prior							12.14
	Weighted Average Seasoning Current							23.1415
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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Collateral Report for August 25, 2003 Distribution
	Collateral Report for September 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							3.121%
	Weighted Average Margin Prior							3.121%
	Weighted Average Margin Current							3.121%
	Weighted Average Max Rate Original							11.511%
	Weighted Average Max Rate Prior							11.511%
	Weighted Average Max Rate Current							11.~~511~~510%
	Weighted Average Min Rate Original							3.250%
	Weighted Average Min Rate Prior							3.250%
	Weighted Average Min Rate Current							3.250%
	Weighted Average Cap Up Original							1.010%
	Weighted Average Cap Up Prior							1.010%
	Weighted Average Cap Up Current							1.010%
	Weighted Average Cap Down Original							1.010%
	Weighted Average Cap Down Prior							1.010%
	Weighted Average Cap Down Current							1.010%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							8517,~~347~~254.8015
	Delinquent Servicing Fees							1583,~~879~~783.5596
	TOTAL SERVICING FEES							101,~~227~~038.3511
	Total Servicing Fees							101,~~227~~038.3511
	Compensating Interest							~~517~~3,334.0181
	Delinquent Servicing Fees							(1583,~~879~~783.5596)
	COLLECTED SERVICING FEES							8520,~~864~~588.8196
	Current PPIS							~~517~~3,334.0181
	Current Net PPIS							16,~~034~~669.0262
	Total Advanced Principal For Current Payment Date							24125,~~724~~560.2411
	Total Advanced Interest For Current Payment Date							~~214~~1,~~334~~061,835.7212
	TOTAL ADVANCES FOR CURRENT PERIOD							~~239~~1,~~058~~187,395.9623
ADDITIONAL COLLATERAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 10 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Delinquency Report for August 25, 2003 Distribution
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-1,581,316.19	-	-	-1,581,316.19
		% Balance			0.0053%	0.00%	0.00%	0.0053%
		# Loans			-6	-	-	-6
		% # Loans			0.0052%	0.00%	0.00%	0.0052%
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		-	-1,581,316.19	-	-	-1,581,316.19
		% Balance		0.00%	0.0053%	0.00%	0.00%	0.0053%
		# Loans		-	-6	-	-	-6
		% # Loans		0.00%	0.0052%	0.00%	0.00%	0.0052%
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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	REO Report for August 25, 2003 Distribution
	REO Report for September 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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							27
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							27
	Paid in Full Balance							~~316~~2,~~447~~113,014.0078
	Repurchased Loans Balance							-
	Curtailments Amount							9424,~~166~~306.0224
	Total Prepayment Amount							~~410~~2,~~613~~137,321.02
	Cumulative
	Number of Paid in Full Loans							29
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							29
	Paid in Full Balance							~~316~~2,~~447~~429,461.0078
	Repurchased Loans Balance							-
	Curtailments Amount							95119,~~586~~892.4064
	Total Prepayment Amount							~~412~~2,~~033~~549,354.4042
	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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							0.1471%
	3 Months Avg SMM							0.28%
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.0728%
	CPR							18.6324%
	3 Months Avg CPR							3.36%
	12 Months Avg CPR
	Avg CPR Since Cut-off							03.8236%
	PSA							~~380~~1309.2764%
	3 Months Avg PSA Approximation							783.01%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							~~249~~783.8401%
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 14 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Report for August 25, 2003 Distribution
	Prepayment Report for September 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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Prepayment Detail Report for August 25, 2003 Distribution
	Prepayment Detail Report for September 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 2						Loan Group 1 = Adjustable Group
Total Loan Count = 7						Loan Group 1 = Adjustable Group
Total Original Principal Balance = 316,447.00
Total Original Principal Balance = 2,116,750.00
Total Prepayment Amount = 316,447.00
Total Prepayment Amount = 2,113,014.78
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
1100378282 1			176,947.00	176,947.00	Jul-23-03	6.250%	CA - 80.00%	Paid Off - 360	Jun-19-03
1100377889 1			260,950.00	260,950.00	Aug-18-03	5.375%	CA - 89.99%	Paid Off - 360	Jun-24-03
1100378927 1			139,500.00	139,500.00	Jul-21-03	7.000%	FL - 90.00%	Paid Off - 360	Jun-26-03
1100377981 1			402,000.00	401,178.29	Aug-27-03	5.875%	NJ - 89.28%	Paid Off - 360	Jun-27-03
1100378552 1			288,000.00	287,490.40	Aug-20-03	6.625%	CA - 90.00%	Paid Off - 360	Jun-02-03
1100379067 1			238,000.00	237,517.72	Aug-25-03	8.000%	CA - 70.00%	Paid Off - 360	Jun-24-03
1103045808 1			370,000.00	369,278.93	Aug-21-03	6.125%	NY - 66.08%	Paid Off - 360	Jun-02-03
1103049646 1			317,800.00	316,862.13	Aug-22-03	3.875%	CA - 70.00%	Paid Off - 360	Jun-20-03
2500028015 1			240,000.00	239,737.31	Aug-11-03	5.500%	CA - 79.74%	Paid Off - 360	Jun-09-03
					Page 16 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report for September 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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report for September 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 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Report for August 25, 2003 Distribution
	Realized Loss Report for September 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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Realized Loss Detail Report for August 25, 2003 Distribution
	Realized Loss Detail Report for September 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
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 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.~~1000~~1100%
ADDITIONAL INFORMATION								TOTAL
	Current Periods Net Mortgage Rate							4.~~9745~~9724%
				Page 21 of 22				© COPYRIGHT 2003 Deutsche Bank
	Impac 2003-7
	Impac CMB Trust 2003-7
	Collateralized Asset-Backed Bonds
	Series 2003-7
	Other Related Information for August 25, 2003 Distribution
	Other Related Information for September 25, 2003 Distribution
	Other Related Information
ADDITIONAL INFORMATION								TOTAL
	Total Derivative Payments							~~124~~121,~~191~~960.3889
	FXIMP037A1							6,~~809~~694.0392
	FXIMP037B1							5453,~~936~~784.3519
	FXIMP037C1							1312,~~065~~672.8963
	FXIMP037D1							1211,~~094~~925.6238
	FXIMP037E1							2,~~796~~746.69
	FXIMP037F1							29,~~633~~336.0859
	FXIMP037G1							4,~~855~~800.7249
				Page 22 of 22				© COPYRIGHT 2003 Deutsche Bank

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