8-K 1 imh05002_10508.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): August 25, 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 August 25, 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 August 25, 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: 8/29/2005 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 August 25, 2005 distribution. EX-99.1

Impac Assets Corp. Collateralized Asset-Backed Bonds Record Date: 57/3129/2005 Distribution Date: 68/2725/2005 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 Class CUSIP Description Rate Balance Distribution 1-A-1 45254NMY0 SEN 3.~~35000~~72000% ~~810~~779,~~805~~198,~~055~~293.9001 2,~~489~~496,~~847~~031.1987 1-A-2 45254NMZ7 SEN 3.~~40000~~77000% 9086,~~089~~577,~~450~~588.6611 ~~280~~281,~~778~~064.7952 1-A-IO 45254NNA1 SEN 1.00000% 0.00 ~~831~~498,~~250~~750.00 2-A-1 45254NNJ2 SEN 3.~~39000~~76000% 3736,~~331~~726,~~890~~469.1715 ~~116~~118,~~008~~912.8515 2-A-2 45254NNK9 SEN 3.~~49000~~86000% 3938,~~438~~798,~~548~~962.0076 ~~126~~128,~~170~~963.4944 1-M-1 45254NNB9 MEZ 3.~~52000~~89000% ~~116~~112,~~999~~438,~~286~~426.5712 ~~377~~376,~~517~~637.7049 1-M-2 45254NNC7 MEZ 3.~~58000~~95000% 5755,~~914~~657,~~646~~020.8593 ~~190~~189,~~056~~311.5717 1-M-3 45254NND5 MEZ 3.~~60000~~97000% 2726,~~494~~423,~~832~~030.3414 90,~~732~~330.9506 1-M-4 45254NNE3 MEZ 34.~~76000~~13000% 19,~~889~~114,~~878~~532.7244 6867,~~553~~978.7871 1-M-5 45254NNF0 MEZ 34.~~82000~~19000% 2019,~~474~~676,~~875~~724.1557 7170,~~696~~994.1972 1-M-6 45254NNG8 MEZ 34.~~87000~~24000% 11,~~699~~243,~~928~~842.6661 41,~~505~~052.5052 2-M-1 45254NNL7 MEZ 3.~~61000~~98000% 7,~~526~~404,~~767~~704.5600 2425,~~907~~377.3357 2-M-2 45254NNM5 MEZ 34.~~84000~~21000% 11,~~440~~254,~~128~~601.6408 40,~~269~~801.2506 1-B 45254NNH6 SUB 4.~~39000~~76000% 14,~~624~~054,~~910~~803.8226 5857,~~853~~609.08 2-B 45254NNN3 SUB 45.~~74000~~11000% 21,~~676~~324,~~452~~920.8010 9493,~~184~~835.1957 OWNER CERT SEN 0.00000% 0.00 ~~669~~1,~~898~~100,827.8328 Totals 1,~~287~~239,~~406~~893,~~652~~918.8428 5,~~572~~678,~~230~~477.6921

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses 1-A-1 1220,~~762~~234,~~840~~889.5513 0.00 ~~798~~758,~~042~~963,~~215~~403.3588 1522,~~252~~730,~~687~~921.7400 0.00 1-A-2 12,~~418~~248,~~093~~321.3901 0.00 8884,~~671~~329,~~357~~267.2610 12,~~698~~529,~~872~~385.1853 0.00 1-A-IO 0.00 0.00 0.00 ~~831~~498,~~250~~750.00 0.00 2-A-1 7278,~~270~~530.4454 0.00 3736,~~259~~647,~~619~~938.7361 ~~188~~197,~~279~~442.2969 0.00 2-A-2 7682,~~348~~962.7006 0.00 3938,~~362~~716,~~199~~000.3070 ~~202~~211,~~519~~925.1950 0.00 1-M-1 12,~~841~~919,~~679~~897.7342 0.00 ~~115~~109,~~157~~518,~~606~~528.8370 23,~~219~~296,~~197~~534.4391 0.00 1-M-2 ~~911~~1,~~631~~445,349.4722 0.00 5754,~~003~~211,~~015~~671.3871 1,~~101~~634,~~688~~660.0439 0.00 1-M-3 ~~432~~686,~~794~~175.7489 0.00 2725,~~062~~736,~~037~~854.6124 ~~523~~776,~~527~~505.6995 0.00 1-M-4 ~~313~~496,~~085~~382.5556 0.00 1918,~~576~~618,~~793~~149.1688 ~~381~~564,~~639~~361.3327 0.00 1-M-5 ~~322~~510,~~293~~982.9505 0.00 2019,~~152~~165,~~581~~742.2052 ~~393~~581,~~990~~976.1477 0.00 1-M-6 ~~184~~291,~~167~~989.9774 0.00 1110,~~515~~951,~~760~~852.6887 ~~225~~333,~~673~~042.4726 0.00 2-M-1 1415,~~571~~833.0014 0.00 7,~~512~~388,~~196~~870.5686 3941,~~478~~210.3371 0.00 2-M-2 2224,~~146~~065.8320 0.00 11,~~417~~230,~~981~~535.8188 6264,~~416~~866.0826 0.00 1-B ~~230~~364,~~209~~987.9718 0.00 1413,~~394~~689,~~700~~816.8509 ~~289~~422,~~063~~596.0526 0.00 2-B 4145,~~963~~598.2311 0.00 21,~~634~~279,~~489~~321.5799 ~~136~~139,~~147~~433.4268 0.00 OWNER CERT 0.00 0.00 0.00 ~~669~~1,~~898~~100,827.8328 0.00 Totals 1829,~~644~~445,~~097~~963.5225 0.00 1,~~268~~210,~~762~~447,~~555~~955.2903 2435,~~216~~124,~~328~~440.2146 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee. This report has been compiled from information provided to Wells Fargo Bank, N.A. by various third parties, which may include the Servicer, Master Servicer, Special Servicer and others. Wells Fargo Bank, N.A. has not independently confirmed the accuracy of information received from these third parties and assumes no duty to do so. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished by third parties.

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 ~~810~~779,~~805~~198,~~055~~293.9001 0.00 1220,~~762~~234,~~840~~889.5513 0.00 0.00 1-A-2 92,400,000.00 9086,~~089~~577,~~450~~588.6611 0.00 12,~~418~~248,~~093~~321.3901 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 3736,~~331~~726,~~890~~469.1715 0.00 7278,~~508~~530.7954 0.00 0.00 2-A-2 39,576,000.00 3938,~~438~~798,~~548~~962.0076 0.00 7682,~~600~~962.5006 0.00 0.00 1-M-1 120,000,000.00 ~~116~~112,~~999~~438,~~286~~426.5712 0.00 12,~~841~~919,~~679~~897.7342 0.00 0.00 1-M-2 59,400,000.00 5755,~~914~~657,~~646~~020.8593 0.00 ~~911~~1,~~631~~445,349.4722 0.00 0.00 1-M-3 28,200,000.00 2726,~~494~~423,~~832~~030.3414 0.00 ~~432~~686,~~794~~175.7489 0.00 0.00 1-M-4 20,400,000.00 19,~~889~~114,~~878~~532.7244 0.00 ~~313~~496,~~085~~382.5556 0.00 0.00 1-M-5 21,000,000.00 2019,~~474~~676,~~875~~724.1557 0.00 ~~322~~510,~~293~~982.9505 0.00 0.00 1-M-6 12,000,000.00 11,~~699~~243,~~928~~842.6661 0.00 ~~184~~291,~~167~~989.9774 0.00 0.00 2-M-1 7,553,000.00 7,~~526~~404,~~767~~704.5600 0.00 1415,~~619~~833.0514 0.00 0.00 2-M-2 11,480,000.00 11,~~440~~254,~~128~~601.6408 0.00 2224,~~219~~065.8720 0.00 0.00 1-B 15,000,000.00 14,~~624~~054,~~910~~803.8226 0.00 ~~230~~364,~~209~~987.9718 0.00 0.00 2-B 21,752,000.00 21,~~676~~324,~~452~~920.8010 0.00 4245,~~101~~598.6311 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,~~287~~239,~~406~~893,~~652~~918.8428 0.00 1829,~~644~~445,~~847~~963.1625 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 1220,~~762~~234,~~840~~889.5513 ~~798~~758,~~042~~963,~~215~~403.3588 0.~~95964672~~91265441 1220,~~762~~234,~~840~~889.5513 1-A-2 12,~~418~~248,~~093~~321.3901 8884,~~671~~329,~~357~~267.2610 0.~~95964672~~91265441 12,~~418~~248,~~093~~321.3901 1-A-IO 0.00 0.00 0.00000000 0.00 2-A-1 7278,~~270~~530.4454 3736,~~259~~647,~~619~~938.7361 0.~~99459772~~97826968 7278,~~270~~530.4454 2-A-2 7682,~~348~~962.7006 3938,~~362~~716,~~199~~000.3070 0.~~99459772~~97826968 7682,~~348~~962.7006 1-M-1 12,~~841~~919,~~679~~897.7342 ~~115~~109,~~157~~518,~~606~~528.8370 0.~~95964672~~91265441 12,~~841~~919,~~679~~897.7342 1-M-2 ~~911~~1,~~631~~445,349.4722 5754,~~003~~211,~~015~~671.3871 0.~~95964672~~91265441 ~~911~~1,~~631~~445,349.4722 1-M-3 ~~432~~686,~~794~~175.7489 2725,~~062~~736,~~037~~854.6124 0.~~95964672~~91265441 ~~432~~686,~~794~~175.7489 1-M-4 ~~313~~496,~~085~~382.5556 1918,~~576~~618,~~793~~149.1688 0.~~95964672~~91265441 ~~313~~496,~~085~~382.5556 1-M-5 ~~322~~510,~~293~~982.9505 2019,~~152~~165,~~581~~742.2052 0.~~95964672~~91265441 ~~322~~510,~~293~~982.9505 1-M-6 ~~184~~291,~~167~~989.9774 1110,~~515~~951,~~760~~852.6887 0.~~95964672~~91265441 ~~184~~291,~~167~~989.9774 2-M-1 1415,~~571~~833.0014 7,~~512~~388,~~196~~870.5686 0.~~99459772~~97826968 1415,~~571~~833.0014 2-M-2 2224,~~146~~065.8320 11,~~417~~230,~~981~~535.8188 0.~~99459772~~97826968 2224,~~146~~065.8320 1-B ~~230~~364,~~209~~987.9718 1413,~~394~~689,~~700~~816.8509 0.~~95964672~~91265441 ~~230~~364,~~209~~987.9718 2-B 4145,~~963~~598.2311 21,~~634~~279,~~489~~321.5799 0.~~99459772~~97826968 4145,~~963~~598.2311 OWNER CERT 0.00 0.00 0.00000000 0.00 Totals 1829,~~644~~445,~~097~~963.5225 1,~~268~~210,~~762~~447,~~555~~955.2903 0.~~96277160~~91852089 1829,~~644~~445,~~097~~963.5225

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 ~~974~~936.~~99405471~~98688433 0.00000000 1524.~~34733111~~33247851 0.00000000 1-A-2 92,400,000.00 ~~974~~936.~~99405476~~98688431 0.00000000 1524.~~34733106~~33247846 0.00000000 1-A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 37,462,000.00 ~~996~~980.~~52688511~~36594816 0.00000000 12.~~93552907~~09627196 0.00000000 2-A-2 39,576,000.00 ~~996~~980.~~52688498~~36594805 0.00000000 12.~~93552911~~09627198 0.00000000 1-M-1 120,000,000.00 ~~974~~936.~~99405475~~98688433 0.00000000 1524.~~34733108~~33247850 0.00000000 1-M-2 59,400,000.00 ~~974~~936.~~99405471~~98688434 0.00000000 1524.~~34733114~~33247845 0.00000000 1-M-3 28,200,000.00 ~~974~~936.~~99405461~~98688440 0.00000000 1524.~~34733121~~33247837 0.00000000 1-M-4 20,400,000.00 ~~974~~936.~~99405490~~98688431 0.00000000 1524.~~34733088~~33247843 0.00000000 1-M-5 21,000,000.00 ~~974~~936.~~99405476~~98688429 0.00000000 1524.~~34733095~~33247857 0.00000000 1-M-6 12,000,000.00 ~~974~~936.~~99405500~~98688417 0.00000000 1524.~~34733083~~33247833 0.00000000 2-M-1 7,553,000.00 ~~996~~980.~~52688468~~36594731 0.00000000 12.~~93552893~~09627168 0.00000000 2-M-2 11,480,000.00 ~~996~~980.~~52688502~~36594774 0.00000000 12.~~93552875~~09627178 0.00000000 1-B 15,000,000.00 ~~974~~936.~~99405467~~98688400 0.00000000 1524.~~34733133~~33247867 0.00000000 2-B 21,752,000.00 ~~996~~980.~~52688488~~36594796 0.00000000 12.~~93552915~~09627207 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 1524.~~34733111~~33247851 ~~959~~912.~~64672361~~65440582 0.~~95964672~~91265441 1524.~~34733111~~33247851 1-A-2 0.00000000 1524.~~34733106~~33247846 ~~959~~912.~~64672359~~65440584 0.~~95964672~~91265441 1524.~~34733106~~33247846 1-A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 0.00000000 12.~~92916662~~09627196 ~~994~~978.~~59771849~~26967621 0.~~99459772~~97826968 12.~~92916662~~09627196 2-A-2 0.00000000 12.~~92916667~~09627198 ~~994~~978.~~59771831~~26967607 0.~~99459772~~97826968 12.~~92916667~~09627198 1-M-1 0.00000000 1524.~~34733108~~33247850 ~~959~~912.~~64672358~~65440583 0.~~95964672~~91265441 1524.~~34733108~~33247850 1-M-2 0.00000000 1524.~~34733114~~33247845 ~~959~~912.~~64672357~~65440589 0.~~95964672~~91265441 1524.~~34733114~~33247845 1-M-3 0.00000000 1524.~~34733121~~33247837 ~~959~~912.~~64672376~~65440567 0.~~95964672~~91265441 1524.~~34733121~~33247837 1-M-4 0.00000000 1524.~~34733088~~33247843 ~~959~~912.~~64672353~~65440588 0.~~95964672~~91265441 1524.~~34733088~~33247843 1-M-5 0.00000000 1524.~~34733095~~33247857 ~~959~~912.~~64672381~~65440571 0.~~95964672~~91265441 1524.~~34733095~~33247857 1-M-6 0.00000000 1524.~~34733083~~33247833 ~~959~~912.~~64672333~~65440583 0.~~95964672~~91265441 1524.~~34733083~~33247833 2-M-1 0.00000000 12.~~92916722~~09627168 ~~994~~978.~~59771746~~26967563 0.~~99459772~~97826968 12.~~92916722~~09627168 2-M-2 0.00000000 12.~~92916638~~09627178 ~~994~~978.~~59771864~~26967596 0.~~99459772~~97826968 12.~~92916638~~09627178 1-B 0.00000000 1524.~~34733133~~33247867 ~~959~~912.~~64672333~~65440600 0.~~95964672~~91265441 1524.~~34733133~~33247867 2-B 0.00000000 12.~~92916651~~09627207 ~~994~~978.~~59771837~~26967589 0.~~99459772~~97826968 12.~~92916651~~09627207 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.~~35000~~72000% ~~810~~779,~~805~~198,~~055~~293.9001 2,~~489~~496,~~847~~031.1987 0.00 0.00 1-A-2 92,400,000.00 3.~~40000~~77000% 9086,~~089~~577,~~450~~588.6611 ~~280~~281,~~778~~064.7952 0.00 0.00 1-A-IO 0.00 1.00000% ~~997~~598,500,000.00 ~~831~~498,~~250~~750.00 0.00 0.00 2-A-1 37,462,000.00 3.~~39000~~76000% 3736,~~331~~726,~~890~~469.1715 ~~116~~118,~~008~~912.8515 0.00 0.00 2-A-2 39,576,000.00 3.~~49000~~86000% 3938,~~438~~798,~~548~~962.0076 ~~126~~128,~~170~~963.4944 0.00 0.00 1-M-1 120,000,000.00 3.~~52000~~89000% ~~116~~112,~~999~~438,~~286~~426.5712 ~~377~~376,~~517~~637.7049 0.00 0.00 1-M-2 59,400,000.00 3.~~58000~~95000% 5755,~~914~~657,~~646~~020.8593 ~~190~~189,~~056~~311.5717 0.00 0.00 1-M-3 28,200,000.00 3.~~60000~~97000% 2726,~~494~~423,~~832~~030.3414 90,~~732~~330.9506 0.00 0.00 1-M-4 20,400,000.00 34.~~76000~~13000% 19,~~889~~114,~~878~~532.7244 6867,~~553~~978.7871 0.00 0.00 1-M-5 21,000,000.00 34.~~82000~~19000% 2019,~~474~~676,~~875~~724.1557 7170,~~696~~994.1972 0.00 0.00 1-M-6 12,000,000.00 34.~~87000~~24000% 11,~~699~~243,~~928~~842.6661 41,~~505~~052.5052 0.00 0.00 2-M-1 7,553,000.00 3.~~61000~~98000% 7,~~526~~404,~~767~~704.5600 2425,~~907~~377.3357 0.00 0.00 2-M-2 11,480,000.00 34.~~84000~~21000% 11,~~440~~254,~~128~~601.6408 40,~~269~~801.2506 0.00 0.00 1-B 15,000,000.00 4.~~39000~~76000% 14,~~624~~054,~~910~~803.8226 5857,~~853~~609.08 0.00 0.00 2-B 21,752,000.00 45.~~74000~~11000% 21,~~676~~324,~~452~~920.8010 9493,~~184~~835.1957 0.00 0.00 OWNER CERT 0.00 0.00000% 1,~~290~~243,~~699~~434,~~743~~305.9700 0.00 0.00 0.00 Totals 1,317,823,000.00 4,~~902~~577,~~331~~649.8693 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,~~489~~496,~~847~~031.1987 0.00 ~~798~~758,~~042~~963,~~215~~403.3588 1-A-2 0.00 0.00 ~~280~~281,~~778~~064.7952 0.00 8884,~~671~~329,~~357~~267.2610 1-A-IO 0.00 0.00 ~~831~~498,~~250~~750.00 0.00 ~~798~~418,~~000~~950,000.00 2-A-1 0.00 0.00 ~~116~~118,~~008~~912.8515 0.00 3736,~~259~~647,~~619~~938.7361 2-A-2 0.00 0.00 ~~126~~128,~~170~~963.4944 0.00 3938,~~362~~716,~~199~~000.3070 1-M-1 0.00 0.00 ~~377~~376,~~517~~637.7049 0.00 ~~115~~109,~~157~~518,~~606~~528.8370 1-M-2 0.00 0.00 ~~190~~189,~~056~~311.5717 0.00 5754,~~003~~211,~~015~~671.3871 1-M-3 0.00 0.00 90,~~732~~330.9506 0.00 2725,~~062~~736,~~037~~854.6124 1-M-4 0.00 0.00 6867,~~553~~978.7871 0.00 1918,~~576~~618,~~793~~149.1688 1-M-5 0.00 0.00 7170,~~696~~994.1972 0.00 2019,~~152~~165,~~581~~742.2052 1-M-6 0.00 0.00 41,~~505~~052.5052 0.00 1110,~~515~~951,~~760~~852.6887 2-M-1 0.00 0.00 2425,~~907~~377.3357 0.00 7,~~512~~388,~~196~~870.5686 2-M-2 0.00 0.00 40,~~269~~801.2506 0.00 11,~~417~~230,~~981~~535.8188 1-B 0.00 0.00 5857,~~853~~609.08 0.00 1413,~~394~~689,~~700~~816.8509 2-B 0.00 0.00 9493,~~184~~835.1957 0.00 21,~~634~~279,~~489~~321.5799 OWNER CERT 0.00 0.00 ~~669~~1,~~898~~100,827.8328 0.00 1,~~272~~214,~~160~~112,~~214~~264.8650 Totals 0.00 0.00 5,~~572~~678,~~230~~477.6921 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.~~35000~~72000% ~~974~~936.~~99405471~~98688433 23.~~99404424~~00148133 0.00000000 0.00000000 1-A-2 92,400,000.00 3.~~40000~~77000% ~~974~~936.~~99405476~~98688431 3.~~03873149~~04182381 0.00000000 0.00000000 1-A-IO 0.00 1.00000% ~~831~~498.~~25000000~~75000000 0.~~69270833~~41562500 0.00000000 0.00000000 2-A-1 37,462,000.00 3.~~39000~~76000% ~~996~~980.~~52688511~~36594816 3.~~09670733~~17420720 0.00000000 0.00000000 2-A-2 39,576,000.00 3.~~49000~~86000% ~~996~~980.~~52688498~~36594805 3.~~18805564~~25862745 0.00000000 0.00000000 1-M-1 120,000,000.00 3.~~52000~~89000% ~~974~~936.~~99405475~~98688433 3.~~14598083~~13864575 0.00000000 0.00000000 1-M-2 59,400,000.00 3.~~58000~~95000% ~~974~~936.~~99405471~~98688434 3.~~19960556~~18705673 0.00000000 0.00000000 1-M-3 28,200,000.00 3.~~60000~~97000% ~~974~~936.~~99405461~~98688440 3.~~21748050~~20319362 0.00000000 0.00000000 1-M-4 20,400,000.00 34.~~76000~~13000% ~~974~~936.~~99405490~~98688431 3.~~36047941~~33228971 0.00000000 0.00000000 1-M-5 21,000,000.00 34.~~82000~~19000% ~~974~~936.~~99405476~~98688429 3.~~41410429~~38070095 0.00000000 0.00000000 1-M-6 12,000,000.00 34.~~87000~~24000% ~~974~~936.~~99405500~~98688417 3.~~45879167~~42104333 0.00000000 0.00000000 2-M-1 7,553,000.00 3.~~61000~~98000% ~~996~~980.~~52688468~~36594731 3.~~29767377~~35993248 0.00000000 0.00000000 2-M-2 11,480,000.00 34.~~84000~~21000% ~~996~~980.~~52688502~~36594774 3.~~50777439~~55409930 0.00000000 0.00000000 1-B 15,000,000.00 4.~~39000~~76000% ~~974~~936.~~99405467~~98688400 3.~~92353867~~84060533 0.00000000 0.00000000 2-B 21,752,000.00 45.~~74000~~11000% ~~996~~980.~~52688488~~36594796 4.~~32990943~~31388240 0.00000000 0.00000000 OWNER CERT 0.00 0.00000% ~~977~~941.~~17801919~~39374926 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 23.~~99404424~~00148133 0.00000000 ~~959~~912.~~64672361~~65440582 1-A-2 0.00000000 0.00000000 3.~~03873149~~04182381 0.00000000 ~~959~~912.~~64672359~~65440584 1-A-IO 0.00000000 0.00000000 0.~~69270833~~41562500 0.00000000 ~~665~~349.~~00000000~~12500000 2-A-1 0.00000000 0.00000000 3.~~09670733~~17420720 0.00000000 ~~994~~978.~~59771849~~26967621 2-A-2 0.00000000 0.00000000 3.~~18805564~~25862745 0.00000000 ~~994~~978.~~59771831~~26967607 1-M-1 0.00000000 0.00000000 3.~~14598083~~13864575 0.00000000 ~~959~~912.~~64672358~~65440583 1-M-2 0.00000000 0.00000000 3.~~19960556~~18705673 0.00000000 ~~959~~912.~~64672357~~65440589 1-M-3 0.00000000 0.00000000 3.~~21748050~~20319362 0.00000000 ~~959~~912.~~64672376~~65440567 1-M-4 0.00000000 0.00000000 3.~~36047941~~33228971 0.00000000 ~~959~~912.~~64672353~~65440588 1-M-5 0.00000000 0.00000000 3.~~41410429~~38070095 0.00000000 ~~959~~912.~~64672381~~65440571 1-M-6 0.00000000 0.00000000 3.~~45879167~~42104333 0.00000000 ~~959~~912.~~64672333~~65440583 2-M-1 0.00000000 0.00000000 3.~~29767377~~35993248 0.00000000 ~~994~~978.~~59771746~~26967563 2-M-2 0.00000000 0.00000000 3.~~50777439~~55409930 0.00000000 ~~994~~978.~~59771864~~26967596 1-B 0.00000000 0.00000000 3.~~92353867~~84060533 0.00000000 ~~959~~912.~~64672333~~65440600 2-B 0.00000000 0.00000000 4.~~32990943~~31388240 0.00000000 ~~994~~978.~~59771837~~26967589 OWNER CERT 0.00000000 0.00000000 0.~~50717482~~83342716 0.00000000 ~~963~~919.~~14189621~~19427678 (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 2435,~~315~~238,~~212~~870.3017 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 ~~270~~240,~~274~~635.3252 Total Deposits 2435,~~585~~479,~~486~~505.6269 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~369~~355,~~158~~065.4123 Payment of Interest and Principal 2435,~~216~~124,~~328~~440.2146 Total Withdrawals (Pool Distribution Amount) 2435,~~585~~479,~~486~~505.6269 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~366~~352,~~039~~060.2227 Indenture Trustee Fee - Wells Fargo Bank N.A. 1,~~290~~243.7043 Owner Trustee Fee - Wilmington Trust Company 1,~~828~~761.4953 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~369~~355,~~158~~065.4123

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT 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 05 0 0 05 0617,625.0015 0.00 0.00 0617,625.0015 30 Days 5344 0 0 0 5344 1511,~~049~~212,~~855~~595.6439 0.00 0.00 0.00 1511,~~049~~212,~~855~~595.6439 60 Days 1119 01 01 0 1121 47,~~050~~102,~~331~~004.5618 0277,880.0053 0699,900.00 0.00 48,~~050~~079,~~331~~784.5671 90 Days 114 0 03 0 117 ~~138~~3,~~348~~867,911.0085 0.00 0588,800.00 0.00 ~~138~~4,~~348~~456,711.0085 120 Days 0 01 02 0 03 0.00 0596,350.0059 0554,975.0017 0.00 01,151,325.0076 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 6577 07 06 0 6590 1922,~~238~~182,~~535~~511.2042 01,491,856.0027 01,843,675.0017 0.00 1925,~~238~~518,~~535~~042.2086 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~~119133% 0.000000% 0.000000% 0.~~000000~~119133% 0.~~000000~~050871% 0.000000% 0.000000% 0.~~000000~~050871% 30 Days 1.~~207564~~048368% 0.000000% 0.000000% 0.000000% 1.~~207564~~048368% 10.~~183016~~923522% 0.000000% 0.000000% 0.000000% 10.~~183016~~923522% 60 Days 0.~~250627~~452704% 0.~~000000~~023827% 0.~~000000~~023827% 0.000000% 0.~~250627~~500357% 0.~~318382~~584954% 0.~~000000~~022888% 0.~~000000~~057647% 0.000000% 0.~~318382~~665489% 90 Days 0.~~022784~~333572% 0.000000% 0.~~000000~~071480% 0.000000% 0.~~022784~~405051% 0.~~010875~~318579% 0.000000% 0.~~000000~~048496% 0.000000% 0.~~010875~~367076% 120 Days 0.000000% 0.~~000000~~023827% 0.~~000000~~047653% 0.000000% 0.~~000000~~071480% 0.000000% 0.~~000000~~049118% 0.~~000000~~045710% 0.000000% 0.~~000000~~094829% 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 1.~~480975~~834644% 0.~~000000~~166786% 0.~~000000~~142959% 0.000000% 12.~~480975~~144389% 1.~~512273~~827056% 0.~~000000~~122876% 0.~~000000~~151854% 0.000000% 12.~~512273~~101786%

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 05 0 0 05 0617,625.0015 0.00 0.00 0617,625.0015 30 Days 5344 0 0 0 5344 1511,~~049~~212,~~855~~595.6439 0.00 0.00 0.00 1511,~~049~~212,~~855~~595.6439 60 Days 1119 01 01 0 1121 47,~~050~~102,~~331~~004.5618 0277,880.0053 0699,900.00 0.00 48,~~050~~079,~~331~~784.5671 90 Days 114 0 03 0 117 ~~138~~3,~~348~~867,911.0085 0.00 0588,800.00 0.00 ~~138~~4,~~348~~456,711.0085 120 Days 0 01 02 0 03 0.00 0596,350.0059 0554,975.0017 0.00 01,151,325.0076 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 6577 07 06 0 6590 1922,~~238~~182,~~535~~511.2042 01,491,856.0027 01,843,675.0017 0.00 1925,~~238~~518,~~535~~042.2086 0-29 Days 0.~~000000~~122369% 0.000000% 0.000000% 0.~~000000~~122369% 0.~~000000~~056395% 0.000000% 0.000000% 0.~~000000~~056395% 30 Days 1.~~239186~~076848% 0.000000% 0.000000% 0.000000% 1.~~239186~~076848% 1.~~306892~~023808% 0.000000% 0.000000% 0.000000% 1.~~306892~~023808% 60 Days 0.~~257190~~465002% 0.~~000000~~024474% 0.~~000000~~024474% 0.000000% 0.~~257190~~513950% 0.~~351721~~648475% 0.~~000000~~025373% 0.~~000000~~063907% 0.000000% 0.~~351721~~737755% 90 Days 0.~~023381~~342633% 0.000000% 0.~~000000~~073421% 0.000000% 0.~~023381~~416055% 0.~~012014~~353174% 0.000000% 0.~~000000~~053763% 0.000000% 0.~~012014~~406937% 120 Days 0.000000% 0.~~000000~~024474% 0.~~000000~~048948% 0.000000% 0.~~000000~~073421% 0.000000% 0.~~000000~~054452% 0.~~000000~~050674% 0.000000% 0.~~000000~~105126% 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 1.~~519757~~884484% 0.~~000000~~171317% 0.~~000000~~146843% 0.000000% 12.~~519757~~202643% 12.~~670627~~025457% 0.~~000000~~136220% 0.~~000000~~168344% 0.000000% 12.~~670627~~330021% 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%

REO Detail - All Mortgage Loans in REO during Current Period

~~COLLATERAL~~Summary ~~STATEMENT~~12 ~~Collateral~~Month ~~Description~~REO ~~Mixed~~History* ~~Fixed~~New &REO ~~Arm~~Loans ~~Weighted~~Month ~~Average~~REO ~~Gross~~Percentage ~~Coupon~~Loans 5in REO 0 Sep-04 0.~~883769~~000% ~~Weighted~~Original ~~Average~~Principal ~~Net~~Balance ~~Coupon~~0.00 5Oct-04 0.~~543452~~000% ~~Weighted~~Current ~~Average~~Principal ~~Pass~~Balance 0.00 Nov-~~Through~~04 ~~Rate~~0.000% 5Dec-04 0.~~398258~~000% ~~Weighted~~Current ~~Average~~REO ~~Maturity(Stepdown~~Total ~~Calculation)~~Jan-05 ~~355~~0.000% ~~Beginning~~Loans ~~Scheduled~~in ~~Collateral~~REO ~~Loan~~0 ~~Count~~Feb-05 ~~4,449~~0.000% ~~Number~~Original OfPrincipal Balance 0.00 Mar-05 0.000% Current Principal Balance 0.00 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com. 1 12 Month REO History* New REO Loans ~~Paid~~Month InREO ~~Full~~Percentage 60Loans ~~Ending~~in ~~Scheduled~~REO ~~Collateral~~0 ~~Loan~~Sep-04 ~~Count~~0.000% ~~4,389~~Original ~~Beginning~~Principal ~~Scheduled~~Balance ~~Collateral~~0.00 Oct-04 0.000% Current Principal Balance ~~1,290,699,743~~0.9700 ~~Ending~~Nov-04 ~~Scheduled~~0.000% ~~Collateral~~Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal Balance ~~1,272,160,214~~0.8600 ~~Ending~~Mar-05 ~~Actual~~0.000% ~~Collateral~~Current Principal Balance at0.00 31Apr-05 0.000% May-~~2005~~05 ~~1,272,160,214~~0.86000% ~~Monthly~~Jun-05 ~~P&I~~0.000% ~~Constant~~Jul-05 ~~6,691,638~~0.14000% ~~Special~~Aug-05 ~~Servicing~~0.000% ~~Fee~~*The 0text reported in the above table is presented graphically on the monthly bond remittance report.00 ~~Prepayment~~The ~~Penalties~~monthly ~~270,274~~bond remittance report can be viewed online at www.32ctslink.com. ~~Realized~~2 ~~Loss~~12 ~~Amount~~Month REO History* New REO Loans Month REO Percentage Loans in REO 0 Sep-04 0.000% Original Principal Balance 0.00 ~~Cumulative~~Oct-04 ~~Realized~~0.000% ~~Loss~~Current Principal Balance 0.00 ~~Scheduled~~Nov-04 0.000% Dec-04 0.000% Current REO Total Jan-05 0.000% Loans in REO 0 Feb-05 0.000% Original Principal ~~363,155~~Balance 0.8700 ~~Unscheduled~~Mar-05 0.000% Current Principal ~~18,176,373~~Balance 0.2400 Apr-05 0.000% May-05 0.000% Jun-05 0.000% Jul-05 0.000% Aug-05 0.000% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

~~Group~~REO Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 5.914713 5.583831 5.883769 Weighted Average Net Rate 5.553007 5.450831 5.543452 Weighted Average Maturity 355 355 355 Beginning Loan ~~Count~~Detail ~~4,337~~- ~~112~~All ~~4,449~~Mortgage Loans ~~Paid~~in InREO ~~Full~~during 60Current 0Period 60Month ~~Ending~~ Loan ~~Count~~First ~~4,277~~Original ~~112~~Loan ~~4,389~~Entered ~~Beginning~~Payment ~~Scheduled~~LTV ~~Balance~~at ~~1,169,992,865.66~~Principal ~~120,706,878.31~~Group ~~1,290,699,743.97~~Number ~~Ending~~REO ~~Scheduled Balance 1,151,576,068.33 120,584,146.53 1,272,160,214.86 Record~~ Date ~~05/31/2005~~State ~~05/31/2005~~Origination ~~05/31/2005~~Balance ~~Principal~~No ~~And~~REO ~~Interest~~loans ~~Constant~~this ~~6,008,682~~period.98 682,955.16 6,691,638.14 Scheduled Principal 241,873.08 121,282.79 363,155.87 Unscheduled Principal 18,174,924.25 1,448.99 18,176,373.24 Scheduled Interest 5,766,809.90 561,672.37 6,328,482.27 Servicing Fees 352,660.87 13,378.35 366,039.22 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,169.99 120.71 1,290.70 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 151,688.23 3,188.67 154,876.90 Pool Insurance Fee 0.00 0.00 0.00 Spread 1 0.00 0.00 0.00 Spread 2 0.00 0.00 0.00 Spread 3 0.00 0.00 0.00 Net Interest 5,261,290.81 544,984.64 5,806,275.45 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 5.396229 5.417931 5.398258

~~Miscellaneous~~REO ~~Reporting~~Loan ~~Group~~Detail 1- ~~Group~~All 1Mortgage ~~Target~~Loans ~~Overcollateralization~~in ~~0.00~~REO ~~Group~~during 1Current ~~Overcollateralization~~Period ~~Amount~~(continued) ~~0.00~~Current ~~Group~~Paid 1Current ~~Overcollateralization~~Approximate ~~Increase~~Loan ~~0.00~~Principal ~~Group~~To 1Months ~~Overcollateralization~~Loan ~~Release~~Delinquent ~~0.00~~ Group 1Number ~~Net~~Balance ~~Derivative~~Date ~~Contract~~Delinquent ~~Payment~~Rate ~~-360,873.00~~Interest ~~Group~~No 2REO ~~Group~~loans 2this ~~Target Overcollateralization 4,838,750~~period.~~22 Group 2 Overcollateralization Amount 3,293,091.14 Group 2 Overcollateralization Increase 104,568.42 Group 2 Overcollateralization Release 0.00 Group 2 Net Derivative Contract Payment -38,876.13~~

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Group

Prepayment - Voluntary Prepayments

Realized Loss Report - Collateral Summary

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