8-K 1 imh05002_10506.txt 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): June 27, 2005 IMPAC CMB TRUST Collateralized Asset-Backed Bonds, Series 2005-2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-117817-06 Pooling and Servicing Agreement) (Commission N/A (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On June 27, 2005 a distribution was made to holders of IMPAC CMB TRUST, Collateralized Asset-Backed Bonds, Series 2005-2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Collateralized Asset-Backed Bonds, Series 2005-2 Trust, relating to the June 27, 2005 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 CMB TRUST Collateralized Asset-Backed Bonds, Series 2005-2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Indenture Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Collateralized Asset-Backed Bonds, Series 2005-2 Trust, relating to the June 27, 2005 distribution. EX-99.1

Impac Assets Corp. Collateralized Asset-Backed Bonds Record Date: 45/2931/2005 Distribution Date: 56/2527/2005 Impac Assets Corp. Collateralized Asset-Backed Bonds Series 2005-2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com 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~~ 1-A-1 45254NMY0 SEN 3.~~28000~~35000% ~~821~~810,~~468~~805,~~408~~055.2690 2,~~245~~489,~~346~~847.9819 ~~10,663,352.36~~ 1-A-2 45254NMZ7 SEN 3.~~33000~~40000% 9190,~~274~~089,~~267~~450.5866 ~~253~~280,~~286~~778.0979 1~~,184,816.93 1~~-A-IO 45254NNA1 SEN 1.00000% 0.00 ~~950~~831,~~000~~250.00 ~~0.00~~ 2-A-1 45254NNJ2 SEN 3.~~32000~~39000% 37,~~419~~331,~~665~~890.0817 ~~103~~116,~~527~~008.7485 ~~87,774.92~~ 2-A-2 45254NNK9 SEN 3.~~42000~~49000% 39,~~531~~438,~~276~~548.1000 ~~112~~126,~~664~~170.1449 ~~92,728.10~~ 1-M-1 45254NNB9 MEZ 3.~~45000~~52000% ~~118~~116,~~538~~999,~~009~~286.8557 ~~340~~377,~~796~~517.7870 1~~,538,723.28 1~~-M-2 45254NNC7 MEZ 3.~~51000~~58000% 5857,~~676~~914,~~314~~646.8885 ~~171~~190,~~628~~056.2257 ~~761,668.03~~ 1-M-3 45254NND5 MEZ 3.~~53000~~60000% 27,~~856~~494,~~432~~832.~~31 81,944.~~34 ~~361~~90,~~599~~732.9795 1-M-4 45254NNE3 MEZ 3.~~69000~~76000% 2019,~~151~~889,~~461~~878.6772 6168,~~965~~553.7478 ~~261,582.96~~ 1-M-5 45254NNF0 MEZ 3.~~75000~~82000% 20,~~744~~474,~~151~~875.7215 6471,~~825~~696.4719 ~~269,276.57~~ 1-M-6 45254NNG8 MEZ 3.~~80000~~87000% 11,~~853~~699,~~800~~928.9866 3741,~~537~~505.0450 ~~153,872.33~~ 2-M-1 45254NNL7 MEZ 3.~~54000~~61000% 7,~~544~~526,~~464~~767.5356 2224,~~256~~907.1733 ~~17,696.97~~ 2-M-2 45254NNM5 MEZ 3.~~77000~~84000% 11,~~467~~440,~~026~~128.7264 3640,~~025~~269.5825 ~~26,898.08~~ 1-B 45254NNH6 SUB 4.~~32000~~39000% 14,~~817~~624,~~251~~910.2382 5358,~~342~~853.1008 ~~192,340.41~~ 2-B 45254NNN3 SUB 4.~~67000~~74000% 21,~~727~~676,~~418~~452.5880 8494,~~555~~184.8719 ~~50,965.78~~ OWNER CERT SEN 0.00000% 0.00 ~~739~~669,~~348~~898.2083 ~~0.00~~ Totals 1,~~303~~287,~~069~~406,~~949~~652.4984 5,~~359~~572,~~050~~230.~~46 15,663,296.~~69

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1-A-1 12,762,840.55 0.00 ~~810~~798,~~805~~042,~~055~~215.9035 1215,~~908~~252,~~699~~687.3474 0.00 1-A-2 1,418,093.39 0.00 9088,~~089~~671,~~450~~357.6626 1,~~438~~698,~~103~~872.0218 0.00 1-A-IO 0.00 0.00 ~~950~~0.00 831,~~000~~250.00 0.00 2-A-1 72,270.44 0.00 37,~~331~~259,~~890~~619.1773 ~~191~~188,~~302~~279.6629 0.00 2-A-2 76,348.70 0.00 39,~~438~~362,~~548~~199.0030 ~~205~~202,~~392~~519.2419 0.00 1-M-1 1,841,679.73 0.00 ~~116~~115,~~999~~157,~~286~~606.5783 12,~~879~~219,~~520~~197.0643 0.00 1-M-2 911,631.47 0.00 57,~~914~~003,~~646~~015.8538 ~~933~~1,~~296~~101,688.2504 0.00 1-M-3 432,794.74 0.00 27,~~494~~062,~~832~~037.3461 ~~443~~523,~~544~~527.3169 0.00 1-M-4 313,085.55 0.00 19,~~889~~576,~~878~~793.7216 ~~323~~381,~~548~~639.7033 0.00 1-M-5 322,293.95 0.00 20,~~474~~152,~~875~~581.1520 ~~334~~393,~~102~~990.0414 0.00 1-M-6 184,167.97 0.00 11,~~699~~515,~~928~~760.6668 ~~191~~225,~~409~~673.3747 0.00 2-M-1 14,571.00 0.00 7,~~526~~512,~~767~~196.56 39,~~953~~478.1433 0.00 2-M-2 22,146.83 0.00 11,~~440~~417,~~128~~981.6481 62,~~923~~416.6608 0.00 1-B 230,209.97 0.00 14,~~624~~394,~~910~~700.8285 ~~245~~289,~~682~~063.5105 0.00 2-B 41,963.23 0.00 21,~~676~~634,~~452~~489.8057 ~~135~~136,~~521~~147.6542 0.00 OWNER CERT 0.00 0.00 ~~739~~0.00 669,~~348~~898.2083 0.00 Totals 18,644,097.52 0.00 1,~~287~~268,~~406~~762,~~652~~555.8429 2124,~~022~~216,~~347~~328.1521 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) 1-A-1 831,600,000.00 ~~821~~810,~~468~~805,~~408~~055.2690 0.00 1012,~~663~~762,~~352~~840.3655 0.00 0.00 1-A-2 92,400,000.00 9190,~~274~~089,~~267~~450.5866 0.00 1,~~184~~418,~~816~~093.9339 0.00 0.00 1-A-IO 0.00 0.00 0.00 0.00 0.00 0.00 2-A-1 37,462,000.00 37,~~419~~331,~~665~~890.0817 0.00 8772,~~774~~508.9279 0.00 0.00 2-A-2 39,576,000.00 39,~~531~~438,~~276~~548.1000 0.00 9276,~~728~~600.1050 0.00 0.00 1-M-1 120,000,000.00 ~~118~~116,~~538~~999,~~009~~286.8557 0.00 1,~~538~~841,~~723~~679.2873 0.00 0.00 1-M-2 59,400,000.00 5857,~~676~~914,~~314~~646.8885 0.00 ~~761~~911,~~668~~631.0347 0.00 0.00 1-M-3 28,200,000.00 27,~~856~~494,~~432~~832.3134 0.00 ~~361~~432,~~599~~794.9774 0.00 0.00 1-M-4 20,400,000.00 2019,~~151~~889,~~461~~878.6772 0.00 ~~261~~313,~~582~~085.9655 0.00 0.00 1-M-5 21,000,000.00 20,~~744~~474,~~151~~875.7215 0.00 ~~269~~322,~~276~~293.5795 0.00 0.00 1-M-6 12,000,000.00 11,~~853~~699,~~800~~928.9866 0.00 ~~153~~184,~~872~~167.3397 0.00 0.00 2-M-1 7,553,000.00 7,~~544~~526,~~464~~767.5356 0.00 1714,~~696~~619.9705 0.00 0.00 2-M-2 11,480,000.00 11,~~467~~440,~~026~~128.7264 0.00 2622,~~898~~219.0887 0.00 0.00 1-B 15,000,000.00 14,~~817~~624,~~251~~910.2382 0.00 ~~192~~230,~~340~~209.4197 0.00 0.00 2-B 21,752,000.00 21,~~727~~676,~~418~~452.5880 0.00 5042,~~965~~101.7863 0.00 0.00 OWNER CERT 0.00 0.00 0.00 0.00 0.00 0.00 Totals 1,317,823,000.00 1,~~303~~287,~~069~~406,~~949~~652.4984 0.00 1518,~~663~~644,~~296~~847.6916 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 1-A-1 1012,~~663~~762,~~352~~840.3655 ~~810~~798,~~805~~042,~~055~~215.9035 0.~~97499405~~95964672 1012,~~663~~762,~~352~~840.3655 1-A-2 1,~~184~~418,~~816~~093.9339 9088,~~089~~671,~~450~~357.6626 0.~~97499405~~95964672 1,~~184~~418,~~816~~093.9339 1-A-IO 0.00 0.00 0.00000000 0.00 2-A-1 8772,~~774~~270.9244 37,~~331~~259,~~890~~619.1773 0.~~99652689~~99459772 8772,~~774~~270.9244 2-A-2 9276,~~728~~348.1070 39,~~438~~362,~~548~~199.0030 0.~~99652688~~99459772 9276,~~728~~348.1070 1-M-1 1,~~538~~841,~~723~~679.2873 ~~116~~115,~~999~~157,~~286~~606.5783 0.~~97499405~~95964672 1,~~538~~841,~~723~~679.2873 1-M-2 ~~761~~911,~~668~~631.0347 57,~~914~~003,~~646~~015.8538 0.~~97499405~~95964672 ~~761~~911,~~668~~631.0347 1-M-3 ~~361~~432,~~599~~794.9774 27,~~494~~062,~~832~~037.3461 0.~~97499405~~95964672 ~~361~~432,~~599~~794.9774 1-M-4 ~~261~~313,~~582~~085.9655 19,~~889~~576,~~878~~793.7216 0.~~97499405~~95964672 ~~261~~313,~~582~~085.9655 1-M-5 ~~269~~322,~~276~~293.5795 20,~~474~~152,~~875~~581.1520 0.~~97499405~~95964672 ~~269~~322,~~276~~293.5795 1-M-6 ~~153~~184,~~872~~167.3397 11,~~699~~515,~~928~~760.6668 0.~~97499405~~95964672 ~~153~~184,~~872~~167.3397 2-M-1 1714,~~696~~571.9700 7,~~526~~512,~~767~~196.56 0.~~99652688~~99459772 1714,~~696~~571.9700 2-M-2 2622,~~898~~146.0883 11,~~440~~417,~~128~~981.6481 0.~~99652689~~99459772 2622,~~898~~146.0883 1-B ~~192~~230,~~340~~209.4197 14,~~624~~394,~~910~~700.8285 0.~~97499405~~95964672 ~~192~~230,~~340~~209.4197 2-B 5041,~~965~~963.7823 21,~~676~~634,~~452~~489.8057 0.~~99652688~~99459772 5041,~~965~~963.7823 OWNER CERT 0.00 0.00 0.00000000 0.00 Totals 1518,~~663~~644,~~296~~097.6952 1,~~287~~268,~~406~~762,~~652~~555.8429 0.~~97691925~~96277160 1518,~~663~~644,~~296~~097.6952

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A-1 831,600,000.00 ~~987~~974.~~81674875~~99405471 0.00000000 1215.~~82269404~~34733111 0.00000000 1-A-2 92,400,000.00 ~~987~~974.~~81674870~~99405476 0.00000000 1215.~~82269405~~34733106 0.00000000 1-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 37,462,000.00 ~~998~~996.~~86992366~~52688511 0.00000000 21.~~34303881~~93552907 0.00000000 2-A-2 39,576,000.00 ~~998~~996.~~86992369~~52688498 0.00000000 21.~~34303871~~93552911 0.00000000 1-M-1 120,000,000.00 ~~987~~974.~~81674875~~99405475 0.00000000 1215.~~82269400~~34733108 0.00000000 1-M-2 59,400,000.00 ~~987~~974.~~81674882~~99405471 0.00000000 1215.~~82269411~~34733114 0.00000000 1-M-3 28,200,000.00 ~~987~~974.~~81674858~~99405461 0.00000000 1215.~~82269397~~34733121 0.00000000 1-M-4 20,400,000.00 ~~987~~974.~~81674853~~99405490 0.00000000 1215.~~82269412~~34733088 0.00000000 1-M-5 21,000,000.00 ~~987~~974.~~81674857~~99405476 0.00000000 1215.~~82269381~~34733095 0.00000000 1-M-6 12,000,000.00 ~~987~~974.~~81674833~~99405500 0.00000000 1215.~~82269417~~34733083 0.00000000 2-M-1 7,553,000.00 ~~998~~996.~~86992321~~52688468 0.00000000 21.~~34303853~~93552893 0.00000000 2-M-2 11,480,000.00 ~~998~~996.~~86992334~~52688502 0.00000000 21.~~34303833~~93552875 0.00000000 1-B 15,000,000.00 ~~987~~974.~~81674867~~99405467 0.00000000 1215.~~82269400~~34733133 0.00000000 2-B 21,752,000.00 ~~998~~996.~~86992369~~52688488 0.00000000 21.~~34303880~~93552915 0.00000000 OWNER CERT 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000.00 denomination

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A-1 0.00000000 1215.~~82269404~~34733111 ~~974~~959.~~99405471~~64672361 0.~~97499405~~95964672 1215.~~82269404~~34733111 1-A-2 0.00000000 1215.~~82269405~~34733106 ~~974~~959.~~99405476~~64672359 0.~~97499405~~95964672 1215.~~82269405~~34733106 1-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 0.00000000 21.~~34303881~~92916662 ~~996~~994.~~52688511~~59771849 0.~~99652689~~99459772 21.~~34303881~~92916662 2-A-2 0.00000000 21.~~34303871~~92916667 ~~996~~994.~~52688498~~59771831 0.~~99652688~~99459772 21.~~34303871~~92916667 1-M-1 0.00000000 1215.~~82269400~~34733108 ~~974~~959.~~99405475~~64672358 0.~~97499405~~95964672 1215.~~82269400~~34733108 1-M-2 0.00000000 1215.~~82269411~~34733114 ~~974~~959.~~99405471~~64672357 0.~~97499405~~95964672 1215.~~82269411~~34733114 1-M-3 0.00000000 1215.~~82269397~~34733121 ~~974~~959.~~99405461~~64672376 0.~~97499405~~95964672 1215.~~82269397~~34733121 1-M-4 0.00000000 1215.~~82269412~~34733088 ~~974~~959.~~99405490~~64672353 0.~~97499405~~95964672 1215.~~82269412~~34733088 1-M-5 0.00000000 1215.~~82269381~~34733095 ~~974~~959.~~99405476~~64672381 0.~~97499405~~95964672 1215.~~82269381~~34733095 1-M-6 0.00000000 1215.~~82269417~~34733083 ~~974~~959.~~99405500~~64672333 0.~~97499405~~95964672 1215.~~82269417~~34733083 2-M-1 0.00000000 21.~~34303853~~92916722 ~~996~~994.~~52688468~~59771746 0.~~99652688~~99459772 21.~~34303853~~92916722 2-M-2 0.00000000 21.~~34303833~~92916638 ~~996~~994.~~52688502~~59771864 0.~~99652689~~99459772 21.~~34303833~~92916638 1-B 0.00000000 1215.~~82269400~~34733133 ~~974~~959.~~99405467~~64672333 0.~~97499405~~95964672 1215.~~82269400~~34733133 2-B 0.00000000 21.~~34303880~~92916651 ~~996~~994.~~52688488~~59771837 0.~~99652688~~99459772 21.~~34303880~~92916651 OWNER CERT 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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 1-A-1 831,600,000.00 3.~~28000~~35000% ~~821~~810,~~468~~805,~~408~~055.2690 2,~~245~~489,~~346~~847.9819 0.00 0.00 1-A-2 92,400,000.00 3.~~33000~~40000% 9190,~~274~~089,~~267~~450.5866 ~~253~~280,~~286~~778.0979 0.00 0.00 1-A-IO 0.00 1.00000% 1997,~~140~~500,000~~,000~~.00 ~~950~~831,~~000~~250.00 0.00 0.00 2-A-1 37,462,000.00 3.~~32000~~39000% 37,~~419~~331,~~665~~890.0817 ~~103~~116,~~527~~008.7485 0.00 0.00 2-A-2 39,576,000.00 3.~~42000~~49000% 39,~~531~~438,~~276~~548.1000 ~~112~~126,~~664~~170.1449 0.00 0.00 1-M-1 120,000,000.00 3.~~45000~~52000% ~~118~~116,~~538~~999,~~009~~286.8557 ~~340~~377,~~796~~517.7870 0.00 0.00 1-M-2 59,400,000.00 3.~~51000~~58000% 5857,~~676~~914,~~314~~646.8885 ~~171~~190,~~628~~056.2257 0.00 0.00 1-M-3 28,200,000.00 3.~~53000~~60000% 27,~~856~~494,~~432~~832.3134 8190,~~944~~732.3495 0.00 0.00 1-M-4 20,400,000.00 3.~~69000~~76000% 2019,~~151~~889,~~461~~878.6772 6168,~~965~~553.7478 0.00 0.00 1-M-5 21,000,000.00 3.~~75000~~82000% 20,~~744~~474,~~151~~875.7215 6471,~~825~~696.4719 0.00 0.00 1-M-6 12,000,000.00 3.~~80000~~87000% 11,~~853~~699,~~800~~928.9866 3741,~~537~~505.0450 0.00 0.00 2-M-1 7,553,000.00 3.~~54000~~61000% 7,~~544~~526,~~464~~767.5356 2224,~~256~~907.1733 0.00 0.00 2-M-2 11,480,000.00 3.~~77000~~84000% 11,~~467~~440,~~026~~128.7264 3640,~~025~~269.5825 0.00 0.00 1-B 15,000,000.00 4.~~32000~~39000% 14,~~817~~624,~~251~~910.2382 5358,~~342~~853.1008 0.00 0.00 2-B 21,752,000.00 4.~~67000~~74000% 21,~~727~~676,~~418~~452.5880 8494,~~555~~184.8719 0.00 0.00 OWNER CERT 0.00 0.00000% 1,~~306~~290,~~227~~699,~~214~~743.4597 0.00 0.00 0.00 Totals 1,317,823,000.00 4,~~619~~902,~~702~~331.2686 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 1-A-1 0.00 0.00 2,~~245~~489,~~346~~847.9819 0.00 ~~810~~798,~~805~~042,~~055~~215.9035 1-A-2 0.00 0.00 ~~253~~280,~~286~~778.0979 0.00 9088,~~089~~671,~~450~~357.6626 1-A-IO 0.00 0.00 ~~950~~831,~~000~~250.00 0.00 ~~997~~798,~~500~~000,000.00 2-A-1 0.00 0.00 ~~103~~116,~~527~~008.7485 0.00 37,~~331~~259,~~890~~619.1773 2-A-2 0.00 0.00 ~~112~~126,~~664~~170.1449 0.00 39,~~438~~362,~~548~~199.0030 1-M-1 0.00 0.00 ~~340~~377,~~796~~517.7870 0.00 ~~116~~115,~~999~~157,~~286~~606.5783 1-M-2 0.00 0.00 ~~171~~190,~~628~~056.2257 0.00 57,~~914~~003,~~646~~015.8538 1-M-3 0.00 0.00 8190,~~944~~732.3495 0.00 27,~~494~~062,~~832~~037.3461 1-M-4 0.00 0.00 6168,~~965~~553.7478 0.00 19,~~889~~576,~~878~~793.7216 1-M-5 0.00 0.00 6471,~~825~~696.4719 0.00 20,~~474~~152,~~875~~581.1520 1-M-6 0.00 0.00 3741,~~537~~505.0450 0.00 11,~~699~~515,~~928~~760.6668 2-M-1 0.00 0.00 2224,~~256~~907.1733 0.00 7,~~526~~512,~~767~~196.56 2-M-2 0.00 0.00 3640,~~025~~269.5825 0.00 11,~~440~~417,~~128~~981.6481 1-B 0.00 0.00 5358,~~342~~853.1008 0.00 14,~~624~~394,~~910~~700.8285 2-B 0.00 0.00 8494,~~555~~184.8719 0.00 21,~~676~~634,~~452~~489.8057 OWNER CERT 0.00 0.00 ~~739~~669,~~348~~898.2083 0.00 1,~~290~~272,~~699~~160,~~743~~214.9786 Totals 0.00 0.00 5,~~359~~572,~~050~~230.4669 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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 1-A-1 831,600,000.00 3.~~28000~~35000% ~~987~~974.~~81674875~~99405471 2.~~70003244~~99404424 0.00000000 0.00000000 1-A-2 92,400,000.00 3.~~33000~~40000% ~~987~~974.~~81674870~~99405476 23.~~74119145~~03873149 0.00000000 0.00000000 1-A-IO 0.00 1.00000% ~~950~~831.~~00000000~~25000000 0.~~79166667~~69270833 0.00000000 0.00000000 2-A-1 37,462,000.00 3.~~32000~~39000% ~~998~~996.~~86992366~~52688511 23.~~76354012~~09670733 0.00000000 0.00000000 2-A-2 39,576,000.00 3.~~42000~~49000% ~~998~~996.~~86992369~~52688498 23.~~84677936~~18805564 0.00000000 0.00000000 1-M-1 120,000,000.00 3.~~45000~~52000% ~~987~~974.~~81674875~~99405475 23.~~83997317~~14598083 0.00000000 0.00000000 1-M-2 59,400,000.00 3.~~51000~~58000% ~~987~~974.~~81674882~~99405471 23.~~88936397~~19960556 0.00000000 0.00000000 1-M-3 28,200,000.00 3.~~53000~~60000% ~~987~~974.~~81674858~~99405461 23.~~90582766~~21748050 0.00000000 0.00000000 1-M-4 20,400,000.00 3.~~69000~~76000% ~~987~~974.~~81674853~~99405490 3.~~03753627~~36047941 0.00000000 0.00000000 1-M-5 21,000,000.00 3.~~75000~~82000% ~~987~~974.~~81674857~~99405476 3.~~08692714~~41410429 0.00000000 0.00000000 1-M-6 12,000,000.00 3.~~80000~~87000% ~~987~~974.~~81674833~~99405500 3.~~12808667~~45879167 0.00000000 0.00000000 2-M-1 7,553,000.00 3.~~54000~~61000% ~~998~~996.~~86992321~~52688468 23.~~94666623~~29767377 0.00000000 0.00000000 2-M-2 11,480,000.00 3.~~77000~~84000% ~~998~~996.~~86992334~~52688502 3.~~13811672~~50777439 0.00000000 0.00000000 1-B 15,000,000.00 4.~~32000~~39000% ~~987~~974.~~81674867~~99405467 3.~~55614000~~92353867 0.00000000 0.00000000 2-B 21,752,000.00 4.~~67000~~74000% ~~998~~996.~~86992369~~52688488 34.~~88726876~~32990943 0.00000000 0.00000000 OWNER CERT 0.00 0.00000% ~~988~~977.~~93373768~~17801919 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000.00 denomination

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A-1 0.00000000 0.00000000 2.~~70003244~~99404424 0.00000000 ~~974~~959.~~99405471~~64672361 1-A-2 0.00000000 0.00000000 23.~~74119145~~03873149 0.00000000 ~~974~~959.~~99405476~~64672359 1-A-IO 0.00000000 0.00000000 0.~~79166667~~69270833 0.00000000 ~~831~~665.~~25000000~~00000000 2-A-1 0.00000000 0.00000000 23.~~76354012~~09670733 0.00000000 ~~996~~994.~~52688511~~59771849 2-A-2 0.00000000 0.00000000 23.~~84677936~~18805564 0.00000000 ~~996~~994.~~52688498~~59771831 1-M-1 0.00000000 0.00000000 23.~~83997317~~14598083 0.00000000 ~~974~~959.~~99405475~~64672358 1-M-2 0.00000000 0.00000000 23.~~88936397~~19960556 0.00000000 ~~974~~959.~~99405471~~64672357 1-M-3 0.00000000 0.00000000 23.~~90582766~~21748050 0.00000000 ~~974~~959.~~99405461~~64672376 1-M-4 0.00000000 0.00000000 3.~~03753627~~36047941 0.00000000 ~~974~~959.~~99405490~~64672353 1-M-5 0.00000000 0.00000000 3.~~08692714~~41410429 0.00000000 ~~974~~959.~~99405476~~64672381 1-M-6 0.00000000 0.00000000 3.~~12808667~~45879167 0.00000000 ~~974~~959.~~99405500~~64672333 2-M-1 0.00000000 0.00000000 23.~~94666623~~29767377 0.00000000 ~~996~~994.~~52688468~~59771746 2-M-2 0.00000000 0.00000000 3.~~13811672~~50777439 0.00000000 ~~996~~994.~~52688502~~59771864 1-B 0.00000000 0.00000000 3.~~55614000~~92353867 0.00000000 ~~974~~959.~~99405467~~64672333 2-B 0.00000000 0.00000000 34.~~88726876~~32990943 0.00000000 ~~996~~994.~~52688488~~59771837 OWNER CERT 0.00000000 0.00000000 0.~~55975436~~50717482 0.00000000 ~~977~~963.~~17801919~~14189621 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,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 2124,~~396~~315,~~193~~212.4330 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0270,274.0032 Total Deposits 2124,~~396~~585,~~193~~486.4362 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~373~~369,~~846~~158.2841 Payment of Interest and Principal 2124,~~022~~216,~~347~~328.1521 Total Withdrawals (Pool Distribution Amount) 2124,~~396~~585,~~193~~486.4362 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~370~~366,~~689~~039.5722 Indenture Trustee Fee - Wells Fargo Bank N.A. 1,~~306~~290.2370 Owner Trustee Fee - Wilmington Trust Company 1,~~850~~828.4849 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~373~~369,~~846~~158.2841

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 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2953 0 0 0 2953 715,~~710~~049,~~807~~855.8364 0.00 0.00 0.00 715,~~710~~049,~~807~~855.8364 60 Days 211 0 0 0 211 ~~225~~4,~~498~~050,331.8856 0.00 0.00 0.00 ~~225~~4,~~498~~050,331.8856 90 Days 01 0 0 0 01 0138,348.00 0.00 0.00 0.00 0138,348.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3165 0 0 0 3165 719,~~936~~238,~~306~~535.7120 0.00 0.00 0.00 719,~~936~~238,~~306~~535.7120 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% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~651832~~207564% 0.000000% 0.000000% 0.000000% 01.~~651832~~207564% 01.~~597413~~183016% 0.000000% 0.000000% 0.000000% 01.~~597413~~183016% 60 Days 0.~~044954~~250627% 0.000000% 0.000000% 0.000000% 0.~~044954~~250627% 0.~~017471~~318382% 0.000000% 0.000000% 0.000000% 0.~~017471~~318382% 90 Days 0.~~000000~~022784% 0.000000% 0.000000% 0.000000% 0.~~000000~~022784% 0.~~000000~~010875% 0.000000% 0.000000% 0.000000% 0.~~000000~~010875% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~696786~~480975% 0.000000% 0.000000% 0.000000% 01.~~696786~~480975% 01.~~614884~~512273% 0.000000% 0.000000% 0.000000% 01.~~614884~~512273%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 2953 0 0 0 2953 715,~~710~~049,~~807~~855.8364 0.00 0.00 0.00 715,~~710~~049,~~807~~855.8364 60 Days 211 0 0 0 211 ~~225~~4,~~498~~050,331.8856 0.00 0.00 0.00 ~~225~~4,~~498~~050,331.8856 90 Days 01 0 0 0 01 0138,348.00 0.00 0.00 0.00 0138,348.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3165 0 0 0 3165 719,~~936~~238,~~306~~535.7120 0.00 0.00 0.00 719,~~936~~238,~~306~~535.7120 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~668665~~239186% 0.000000% 0.000000% 0.000000% 01.~~668665~~239186% 01.~~659047~~306892% 0.000000% 0.000000% 0.000000% 01.~~659047~~306892% 60 Days 0.~~046115~~257190% 0.000000% 0.000000% 0.000000% 0.~~046115~~257190% 0.~~019274~~351721% 0.000000% 0.000000% 0.000000% 0.~~019274~~351721% 90 Days 0.~~000000~~023381% 0.000000% 0.000000% 0.000000% 0.~~000000~~023381% 0.~~000000~~012014% 0.000000% 0.000000% 0.000000% 0.~~000000~~012014% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~714780~~519757% 0.000000% 0.000000% 0.000000% 01.~~714780~~519757% 01.~~678321~~670627% 0.000000% 0.000000% 0.000000% 01.~~678321~~670627% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 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 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 5.~~907553~~883769% Weighted Average Net Coupon 5.~~567010~~543452% Weighted Average Pass-Through Rate 5.~~421664~~398258% Weighted Average Maturity(Stepdown Calculation ) ~~356~~355 Beginning Scheduled Collateral Loan Count 4,~~503~~449 Number Of Loans Paid In Full 5460 Ending Scheduled Collateral Loan Count 4,~~449~~389 Beginning Scheduled Collateral Balance 1,~~306~~290,~~227~~699,~~214~~743.4597 Ending Scheduled Collateral Balance 1,~~290~~272,~~699~~160,~~743~~214.9786 Ending Actual Collateral Balance at 2931-~~Apr~~May-2005 1,~~290~~272,~~699~~160,~~743~~214.9786 Monthly P &I Constant 6,~~813~~691,~~963~~638.4714 Special Servicing Fee 0.00 Prepayment Penalties 0270,274.0032 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~383~~363,~~457~~155.8087 Unscheduled Principal 1518,~~144~~176,~~012~~373.6824

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 5.~~941744~~914713 5.~~572180~~583831 5.~~907553~~883769 Weighted Average Net Rate 5.~~580041~~553007 5.~~439180~~450831 5.~~567010~~543452 Weighted Average Maturity ~~356~~355 ~~356~~355 ~~356~~355 Beginning Loan Count 4,~~391~~337 112 4,~~503~~449 Loans Paid In Full 5460 0 5460 Ending Loan Count 4,~~337~~277 112 4,~~449~~389 Beginning Scheduled Balance 1,~~185~~169,~~380~~992,~~098~~865.5066 120,~~847~~706,~~115~~878.9531 1,~~306~~290,~~227~~699,~~214~~743.4597 Ending ~~scheduled~~Scheduled Balance 1,~~169~~151,~~992~~576,~~865~~068.6633 120,~~706~~584,~~878~~146.3153 1,~~290~~272,~~699~~160,~~743~~214.9786 Record Date 0405/2931/2005 0405/2931/2005 0405/2931/2005 Principal And Interest Constant 6,~~114~~008,~~022~~682.6198 ~~699~~682,~~940~~955.8616 6,~~813~~691,~~963~~638.4714 Scheduled Principal ~~244~~241,~~668~~873.5508 ~~138~~121,~~789~~282.2579 ~~383~~363,~~457~~155.8087 Unscheduled Principal 1518,~~142~~174,~~564~~924.2925 1,448.3999 1518,~~144~~176,~~012~~373.6824 Scheduled Interest 5,~~869~~766,~~354~~809.0690 561,~~151~~672.6137 6,~~430~~328,~~505~~482.6727 Servicing Fees ~~357~~352,~~295~~660.6887 13,~~393~~378.8935 ~~370~~366,~~689~~039.5722 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~185~~169.3899 120.8571 1,~~306~~290.2370 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~153~~151,~~712~~688.9323 3,~~192~~188.3867 ~~156~~154,~~905~~876.3190 Pool Insurance Fee 0.00 0.00 0.00 Spread ~~Fee~~ 1 0.00 0.00 0.00 Spread ~~Fee~~ 2 0.00 0.00 0.00 Spread ~~Fee~~ 3 0.00 0.00 0.00 Net Interest 5,~~357~~261,~~160~~290.0781 544,~~444~~984.4964 5,~~901~~806,~~604~~275.5645 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 5.~~423233~~396229 5.~~406280~~417931 5.~~421664~~398258

Miscellaneous Reporting Group 1 Group 1 Target Overcollateralization 0.00 Group 1 Overcollateralization Amount 0.00 Group 1 Overcollateralization Increase 0.00 Group 1 Overcollateralization Release 0.00 Group 1 Net Derivative Contract Payment -~~468~~360,~~260~~873.0200 Group 2 Group 2 Target Overcollateralization 4,838,750.22 Group 2 Overcollateralization Amount 3,293,091.1314 Group 2 Overcollateralization Increase ~~135~~104,~~826~~568.2242 Group 2 Overcollateralization Release 0.00 Group 2 Net Derivative Contract Payment -4938,~~588~~876.8013

Group

Filing Compare · IMPAC CMB TRUST SERIES 2005-2, COLLATERALIZED ASSET-BACKED BONDS, SERIES 2005-2