8-K 1 imp01002.txt AUGUST 8K UNITED STATES 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 27, 2001 IMPAC FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2001-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-53986-01 Pooling and Servicing Agreement) (Commission 52-2289287 (State or other File Number) 52-2289309 jurisdiction 52-2289310 of Incorporation) IRS EIN 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 Former name or former address, if changed since last report) ITEM 5. Other Events On August 27, 2001 a distribution was made to holders of IMPAC FUNDING CORPORATION, Mortgage Pass-Through Certificates, Series 2001-2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-2 Trust, relating to the August 27, 2001 distribution. 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. IMPAC FUNDING CORPORATION Mortgage Pass-Through Certificates, Series 2001-2 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Officer By: Beth Belfield, Officer Date: 8/31/01 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2001-2 Trust, relating to the August 27, 2001 distribution. EX-99.1

Impac Mortgage Pass-Through Certificates Mortgage Pass-Through Certificates Record Date: 67/3031/01 Distribution Date: 78/2527/01 IMP Series: 2001-2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 45254TFL3 SEN 6.02000% 6157,~~315~~463,~~380~~628.7042 ~~307~~288,~~598~~275.8386 3,~~851~~289,~~752~~523.2856 A-2 45254TFM1 SEN 6.38000% 70,379,900.00 374,186.4746 0.00 A-3 45254TFN9 SEN 6.74000% 32,517,000.00 182,637.15 0.00 A-4 45254TFP4 SEN 7.37000% 47,023,000.00 288,799.59 0.00 A-5 45254TFQ2 SEN 6.72000% 25,000,000.00 140,000.00 0.00 A-IO 45254TFU3 IO 8.00000% 0.00 166,666.6766 0.00 M-1 45254TFR0 MEZ 8.00000% 2,500,700.00 16,671.33 0.00 M-2 45254TFS8 MEZ 8.00000% 1,875,540.00 12,503.60 0.00 B 45254TFT6 SUB 8.00000% 625,180.00 4,167.87 0.00 X IMP01002X SUB 0.00000% ~~429~~561,~~193~~731.3979 3332,~~134~~915.6089 0.00 R-1 IMP0102R1 SUB 6.00000% 0.00 0.00 0.00 R-2 IMP0102R2 SUB 0.00000% 0.00 0.00 0.00 R-3 IMP0102R3 SUB 0.00000% 0.00 0.00 0.00 Totals ~~241~~237,~~665~~946,~~894~~680.0921 1,~~526~~506,~~366~~824.1141 3,~~851~~289,~~752~~523.2856

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 5754,~~463~~174,~~628~~104.4287 43,~~159~~577,~~351~~799.1142 0.00 A-2 0.00 70,379,900.00 374,186.4746 0.00 A-3 0.00 32,517,000.00 182,637.15 0.00 A-4 0.00 47,023,000.00 288,799.59 0.00 A-5 0.00 25,000,000.00 140,000.00 0.00 A-IO 0.00 0.00 166,666.6766 0.00 M-1 0.00 2,500,700.00 16,671.33 0.00 M-2 0.00 1,875,540.00 12,503.60 0.00 B 0.00 625,180.00 4,167.87 0.00 X 0.00 ~~561~~693,~~731~~395.7936 3332,~~134~~915.6089 0.00 R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 Totals 0.00 ~~237~~234,~~946~~788,~~680~~820.2123 54,~~378~~796,~~118~~347.3997 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 70,150,000.00 6157,~~315~~463,~~380~~628.7042 0.00 3,~~851~~289,~~752~~523.2856 0.00 0.00 A-2 70,379,900.00 70,379,900.00 0.00 0.00 0.00 0.00 A-3 32,517,000.00 32,517,000.00 0.00 0.00 0.00 0.00 A-4 47,023,000.00 47,023,000.00 0.00 0.00 0.00 0.00 A-5 25,000,000.00 25,000,000.00 0.00 0.00 0.00 0.00 A-IO 0.00 0.00 0.00 0.00 0.00 0.00 M-1 2,500,700.00 2,500,700.00 0.00 0.00 0.00 0.00 M-2 1,875,540.00 1,875,540.00 0.00 0.00 0.00 0.00 B 625,180.00 625,180.00 0.00 0.00 0.00 0.00 X 9.61 ~~429~~561,~~193~~731.3979 0.00 0.00 0.00 0.00 R-1 100.00 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 0.00 Totals 250,071,429.61 ~~241~~237,~~665~~946,~~894~~680.0921 0.00 3,~~851~~289,~~752~~523.2856 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 3,~~851~~289,~~752~~523.2856 5754,~~463~~174,~~628~~104.4287 0.~~81915365~~77226094 3,~~851~~289,~~752~~523.2856 A-2 0.00 70,379,900.00 1.00000000 0.00 A-3 0.00 32,517,000.00 1.00000000 0.00 A-4 0.00 47,023,000.00 1.00000000 0.00 A-5 0.00 25,000,000.00 1.00000000 0.00 A-IO 0.00 0.00 0.00000000 0.00 M-1 0.00 2,500,700.00 1.00000000 0.00 M-2 0.00 1,875,540.00 1.00000000 0.00 B 0.00 625,180.00 1.00000000 0.00 X 0.00 ~~561~~693,~~731~~395.7936 5872,~~452~~153.~~83975026~~52341311 0.00 R-1 0.00 0.00 0.00000000 0.00 R-2 0.00 0.00 0.00000000 0.00 R-3 0.00 0.00 0.00000000 0.00 Totals 3,~~851~~289,~~752~~523.2856 ~~237~~234,~~946~~788,~~680~~820.2123 0.~~95151486~~93888702 3,~~851~~289,~~752~~523.2856

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 70,150,000.00 ~~874~~819.~~06102210~~15364818 0.00000000 5446.~~90737391~~89270934 0.00000000 A-2 70,379,900.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-3 32,517,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 47,023,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-5 25,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 2,500,700.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 1,875,540.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 625,180.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 9.61 ~~44661122~~58452839.~~7887617~~7502601 0.00000000 0.00000000 0.00000000 R-1 100.00 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination except R-1,R-2, and R-3 which are per $100.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 5446.~~90737391~~89270934 ~~819~~772.~~15364818~~26093899 0.~~81915365~~77226094 5446.~~90737391~~89270934 A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 5872,~~452~~153,~~839~~523.~~750260~~413111 ~~58452~~72153.~~83975026~~52341311 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 70,150,000.00 6.02000% 6157,~~315~~463,~~380~~628.7042 ~~307~~288,~~598~~275.8387 0.00 0.00 A-2 70,379,900.00 6.38000% 70,379,900.00 374,186.47 0.00 0.00 A-3 32,517,000.00 6.74000% 32,517,000.00 182,637.15 0.00 0.00 A-4 47,023,000.00 7.37000% 47,023,000.00 288,799.59 0.00 0.00 A-5 25,000,000.00 6.72000% 25,000,000.00 140,000.00 0.00 0.00 A-IO 0.00 8.00000% 25,000,000.00 166,666.67 0.00 0.00 M-1 2,500,700.00 8.00000% 2,500,700.00 16,671.33 0.00 0.00 M-2 1,875,540.00 8.00000% 1,875,540.00 12,503.60 0.00 0.00 B 625,180.00 8.00000% 625,180.00 4,167.87 0.00 0.00 X 9.61 0.00000% 0.00 0.00 0.00 0.00 R-1 100.00 6.00000% 0.00 0.00 0.00 0.00 R-2 0.00 0.00000% 0.00 0.00 0.00 0.00 R-3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 250,071,429.61 1,~~493~~473,~~231~~908.5155 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~307~~288,~~598~~275.8386 0.00 5754,~~463~~174,~~628~~104.4287 A-2 0.00 0.00 374,186.4746 0.00 70,379,900.00 A-3 0.00 0.00 182,637.15 0.00 32,517,000.00 A-4 0.00 0.00 288,799.59 0.00 47,023,000.00 A-5 0.00 0.00 140,000.00 0.00 25,000,000.00 A-IO 0.00 0.00 166,666.6766 0.00 25,000,000.00 M-1 0.00 0.00 16,671.33 0.00 2,500,700.00 M-2 0.00 0.00 12,503.60 0.00 1,875,540.00 B 0.00 0.00 4,167.87 0.00 625,180.00 X 0.00 0.00 3332,~~134~~915.6089 0.00 0.00 R-1 0.00 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 0.00 R-3 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~526~~506,~~366~~824.1141 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 70,150,000.00 6.02000% ~~874~~819.~~06102210~~15364818 4.~~38487284~~10942081 0.00000000 0.00000000 A-2 70,379,900.00 6.38000% 1000.00000000 5.31666669 0.00000000 0.00000000 A-3 32,517,000.00 6.74000% 1000.00000000 5.61666667 0.00000000 0.00000000 A-4 47,023,000.00 7.37000% 1000.00000000 6.14166663 0.00000000 0.00000000 A-5 25,000,000.00 6.72000% 1000.00000000 5.60000000 0.00000000 0.00000000 A-IO 0.00 8.00000% 1000.00000000 6.66666680 0.00000000 0.00000000 M-1 2,500,700.00 8.00000% 1000.00000000 6.66666533 0.00000000 0.00000000 M-2 1,875,540.00 8.00000% 1000.00000000 6.66666667 0.00000000 0.00000000 B 625,180.00 8.00000% 1000.00000000 6.66667200 0.00000000 0.00000000 X 9.61 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-1 100.00 6.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination except R-1,R-2, and R-3 which are per $100.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 4.~~38487284~~10942067 0.00000000 ~~819~~772.~~15364818~~26093899 A-2 0.00000000 0.00000000 5.~~31666669~~31666655 0.00000000 1000.00000000 A-3 0.00000000 0.00000000 5.61666667 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 6.14166663 0.00000000 1000.00000000 A-5 0.00000000 0.00000000 5.60000000 0.00000000 1000.00000000 A-IO 0.00000000 0.00000000 6.~~66666680~~66666640 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 6.66666533 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 6.66666667 0.00000000 1000.00000000 B 0.00000000 0.00000000 6.66667200 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~3447929~~3425170.~~24037461~~65556712 0.00000000 0.00000000 R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 R-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 54,~~582~~996,~~808~~704.9308 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Losses 0.00 Total Deposits 54,~~582~~996,~~808~~704.9308 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~204~~200,~~690~~356.5411 Payment of Interest and Principal 54,~~378~~796,~~118~~347.3997 Total Withdrawals (Pool Distribution Amount) 54,~~582~~996,~~808~~704.9308 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~161~~158,~~429~~980.4522 Trustee Fee: Wells Fargo Bank Minnesota, N.A. 21,~~013~~982.8990 MBIA Fee 4,997.33 GEMICO Fee 3634,~~249~~395.8766 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~204~~200,~~690~~356.5411

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0100,471.0093 0.00 0.00 0100,471.0093 30 Days 2077 01 0 0 2078 212,~~994~~497,~~046~~009.2221 058,397.0001 0.00 0.00 212,~~994~~555,~~046~~406.22 60 Days 1819 0 0 0 1819 23,~~866~~521,~~139~~877.0170 0.00 0.00 0.00 23,~~866~~521,~~139~~877.0170 90 Days 914 01 1 20 1214 2,~~044~~081,~~721~~475.4267 0139,709.0006 ~~134~~327,~~543~~178.9699 ~~472,960~~0.9100 2,~~652~~081,~~226~~475.2967 120 Days 012 0 05 0 014 01,941,550.0081 0.00 01,005,148.0069 0.00 02,408,438.0086 150 Days 02 0 0 0 07 0565,871.0042 0.00 0.00 0.00 01,571,020.0011 180+ Days 0 0 0 02 02 0.00 0.00 0.00 0472,762.0087 0472,762.0087 Totals 47124 03 16 2 50135 720,~~904~~607,~~906~~784.6581 0298,578.00 ~~134~~1,~~543~~332,327.9668 472,~~960~~762.9187 822,~~512~~711,~~411~~453.5236 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~000000~~066181% 0.000000% 0.000000% 0.~~000000~~066181% 0.~~000000~~042792% 0.000000% 0.000000% 0.~~000000~~042792% 30 Days 15.~~308901~~095963% 0.~~000000~~066181% 0.000000% 0.000000% 15.~~308901~~162144% 15.~~258285~~322659% 0.~~000000~~024872% 0.000000% 0.000000% 15.~~258285~~347532% 60 Days 1.~~178010~~257445% 0.000000% 0.000000% 0.000000% 1.~~178010~~257445% 1.~~204530~~500019% 0.000000% 0.000000% 0.000000% 1.~~204530~~500019% 90 Days 0.~~589005~~926539% 0.000000% 0.~~065445~~000000% 0.~~130890~~000000% 0.~~785340~~926539% 0.~~859319~~886531% 0.000000% 0.~~056544~~000000% 0.~~198768~~000000% 10.~~114631~~886531% 120 Days 0.~~000000~~794176% 0.~~000000~~066181% 0.~~000000~~066181% 0.000000% 0.~~000000~~926539% 0.~~000000~~826935% 0.~~000000~~059504% 0.~~000000~~139350% 0.000000% 01.~~000000~~025789% 150 Days 0.~~000000~~132363% 0.000000% 0.~~000000~~330907% 0.000000% 0.~~000000~~463269% 0.~~000000~~241013% 0.000000% 0.~~000000~~428108% 0.000000% 0.~~000000~~669120% 180+ Days 0.000000% 0.000000% 0.000000% 0.~~000000~~132363% 0.~~000000~~132363% 0.000000% 0.000000% 0.000000% 0.~~000000~~201357% 0.~~000000~~201357% Totals 38.~~075916~~206486% 0.~~000000~~198544% 0.~~065445~~397088% 0.~~130890~~132363% 38.~~272251~~934480% 38.~~322134~~777158% 0.~~000000~~127169% 0.~~056544~~567458% 0.~~198768~~201357% 39.~~577445~~673141%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 9.~~253741~~253124% Weighted Average Net Coupon 8.~~452157~~451364% Weighted Average Pass-Through Rate 8.~~262158~~267902% Weighted Average Maturity(Stepdown Calculation ) ~~345~~344 Beginning Scheduled Collateral Loan Count 1,~~549~~528 Number Of Loans Paid In Full 2117 Ending Scheduled Collateral Loan Count 1,~~528~~511 Beginning Scheduled Collateral Balance ~~241~~237,~~665~~946,~~894~~680.0921 Ending Scheduled Collateral Balance ~~237~~234,~~946~~788,~~680~~820.2123 Ending Actual Collateral Balance at 3031-~~Jun~~Jul-2001 ~~237~~234,~~946~~788,~~680~~820.2123 Monthly P &I Constant 21,~~010~~983,~~152~~537.0762 Ending Scheduled Balance for Premium Loans ~~237~~234,~~946~~788,~~680~~820.2123 ~~Required~~Scheduled ~~Overcollateralization~~Principal ~~Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount 0.00 Specified O/C Amount 1~~144,~~250,000~~693.0082 ~~Overcollateralized~~Unscheduled ~~Amount~~Principal ~~561~~3,~~731.79 Overcollateralized Deficiency Amount 820~~013,~~806~~166.~~61 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 132,538.40 Excess Cash Amount 132,538.40~~16

Filing Compare · IMPAC SECURED ASSETS CORP MORT PASS THR CERT SER 2001-2