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): ~~April~~May 2527, 2003 IMPAC CMB TRUST SERIES 2003-4. (as Company under a Series 2003-14 Indenture, dated as of March 31,2003 providing for, inter alia, the issuance of Collateralized Asset Backed Bonds, Series 2003-4). IMPAC CMB TRUST COLLATERLIZED AS BOND SERIES 2003-34 (Exact name of Registrant as specified in its Charter) California (State or Other Jurisdiction of Incorporation) 333-103591-01 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 ~~April~~May 2527, 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 March 31,2003. Date: ~~May~~Jun 0102, 2003 By: /s/ David Co David Co Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~April~~May 2527, 2003.

	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	April 25, 2003 Distribution
	May 27, 2003 Distribution - REVISED
	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				15
			8.	Prepayment Report				16
			9.	Prepayment Detail Report				19
			10.	Realized Loss Report				20
			11.	Realized Loss Detail Report				23
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
				Total Number of Pages				24
			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 Funding Corp.					Cut-Off Date: March 1, 2003
	Certificate Insurer(s):		AMBAC Indemnity Corporation					Closing Date: March 31, 2003
								First Payment Date: April 25, 2003
	Servicer(s):		Impac Funding Corp. Master Servicer
			Wendover Funding, Inc. Sub-Servicer
			Countrywide Home Loans, Inc. Sub-Servicer
			GMAC Sub-Servicer					Distribution Date: ~~April~~May 2527, 2003
	Underwriter(s):		Countrywide Funding Corporation Underwriter					Record Date: ~~April~~May 2423, 2003
								March 31, 2003
								April 30, 2003
						Page 1 of 24					© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Certificate Payment Report for April 25, 2003 Distribution
	Certificate Payment Report for May 27, 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)
1-A-1	FLT, STEP,	253,125,000.00			253,~~125~~051,~~000~~220.0004	~~208~~368,~~674~~892.2045	~~241~~1,~~906~~477,534.2287	~~450~~1,~~580~~846,427.4232	-	-	~~252~~251,~~883~~573,~~093~~685.7817
2-A-1	FLT, STEP,	11,217,000.00			11,~~217~~205,~~000~~240.0066	1718,~~579~~227.5319	1113,~~759~~884.3487	2932,~~338~~112.8706	-	-	11,~~205~~191,~~240~~355.6679
3-A-1	STEP, AFC	259,500,000.00			~~259~~258,~~500~~775,~~000~~853.0024	~~885~~934,~~153~~827.7077	~~662~~1,~~961~~545,281.0674	12,~~548~~480,~~114~~109.7651	-	-	~~258~~257,~~837~~230,~~038~~571.9450
3-A-IO	IO, NTL	-			-	~~193~~187,~~753~~503.5948	-	~~193~~187,~~753~~503.5948	-	-	-
3-M-1	MEZ, STEP,	18,750,000.00			18,~~750~~697,~~000~~677.0026	6375,~~956~~211.1941	47111,~~901~~653.8130	~~111~~186,~~858~~864.0071	-	-	18,~~702~~586,~~098~~023.1996
3-M-2	MEZ, STEP,	15,000,000.00			1514,~~000~~958,~~000~~141.0081	5165,~~164~~180.9510	3889,~~321~~322.4564	89154,~~486~~502.4074	-	-	14,~~961~~868,~~678~~819.5517
1-B-1	SUB, FLT, S	14,850,000.00			14,~~850~~845,~~000~~671.0058	1257,~~242~~007.2238	1486,~~191~~682.8305	26143,~~434~~689.0543	-	-	14,~~835~~758,~~808~~989.1753
3-B-1	SUB, STEP,	5,250,000.00			5,~~250~~235,~~000~~349.0063	1725,~~907~~146.7385	1331,~~412~~262.5193	3156,~~320~~409.2478	-	-	5,~~236~~204,~~587~~086.4970
Cert	R	-			-	241,~~114~~022,354.5825	-	241,~~114~~022,354.5825	-	-	-
Total		577,692,000.00			~~577~~576,~~692~~769,~~000~~154.0022	12,~~474~~754,~~546~~350.6988	13,~~030~~355,~~454~~622.2240	26,~~505~~109,~~000~~973.9128	-	-	~~576~~573,~~661~~413,~~545~~531.7882
	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)
1-A-1	0304/25/03	0405/2426/03		A-Act/360	45254NED5	253,125,000.00	~~1,000~~999.~~000000~~708524	01.~~824392~~457353	05.~~955679~~837175	17.~~780071~~294528	~~999~~993.~~044321~~871349
2-A-1	0304/25/03	0405/2426/03		A-Act/360	45254NEF0	11,217,000.00	~~1,000~~998.~~000000~~951650	1.~~567222~~624961	1.~~048350~~237842	2.~~615572~~862803	~~998~~997.~~951650~~713809
3-A-1	0304/25/03	0405/2426/03		A-Act/360	45254NEG8	259,500,000.00	~~1,000~~997.~~000000~~209454	3.~~410997~~602419	25.~~554763~~954843	59.~~965760~~557262	~~997~~991.~~445237~~254611
3-A-IO	0304/25/03	0405/2426/03		A-Act/360	45254NEH6	37,500,695.00	1,000.000000	5.~~166667~~000000	-	5.~~166667~~000000	1,000.000000
3-M-1	0304/25/03	0405/2426/03		A-Act/360	45254NEJ2	18,750,000.00	~~1,000~~997.~~000000~~209454	34.~~410997~~011275	25.~~554763~~954843	59.~~965760~~966118	~~997~~991.~~445237~~254611
3-M-2	0304/25/03	0405/2426/03		A-Act/360	45254NEK9	15,000,000.00	~~1,000~~997.~~000000~~209454	34.~~410997~~345340	25.~~554763~~954843	510.~~965760~~300183	~~997~~991.~~445237~~254611
1-B-1	0304/25/03	0405/2426/03		A-Act/360	45254NEE3	14,850,000.00	~~1,000~~999.~~000000~~708524	03.~~824392~~838881	05.~~955679~~837175	19.~~780071~~676056	~~999~~993.~~044321~~871349
3-B-1	0304/25/03	0405/2426/03		A-Act/360	45254NEL7	5,250,000.00	~~1,000~~997.~~000000~~209453	34.~~410996~~789876	25.~~554763~~954843	510.~~965759~~744719	~~997~~991.~~445236~~254610
Cert	0304/25/03	0405/2426/03		-Act/360		-	-	-	-	-	-
							Page 2 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Certificate Payment Report for April 25, 2003 Distribution
	Certificate Payment Report for May 27, 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)
1-A-1	253,125,000.00		~~208~~655,~~674~~415.2089		~~171~~1,~~027~~330,922.2132	70220,~~879~~392.0151	~~241~~1,~~906~~551,314.2283	~~450~~2,~~580~~206,730.4272	-	-	~~252~~251,~~883~~573,~~093~~685.7817
2-A-1	11,217,000.00		1732,~~579~~404.5323		-0.00	1125,~~759~~644.3421	1125,~~759~~644.3421	2958,~~338~~048.8744	-	-	11,~~205~~191,~~240~~355.6679
3-A-1	259,500,000.00		~~885~~1,~~153~~742,752.7023		~~463~~1,~~680~~794,440.4246	~~199~~474,~~280~~988.6403	~~662~~2,~~961~~269,428.0649	14,~~548~~012,~~114~~180.7672	-	-	~~258~~257,~~837~~230,~~038~~571.9450
3-A-IO	-		~~193~~375,~~753~~006.5996		-	-	-	~~193~~375,~~753~~006.5996	-	-	-
3-M-1	18,750,000.00		63133,~~956~~587.1945		36136,~~382~~520.7009	1127,~~519~~455.1196	47163,~~901~~976.8105	~~111~~297,~~858~~563.0050	-	-	18,~~702~~586,~~098~~023.1996
3-M-2	15,000,000.00		51111,~~164~~880.9594		34121,~~289~~571.7625	49,~~031~~609.6958	38131,~~321~~180.4584	89243,~~486~~061.4078	-	-	14,~~961~~868,~~678~~819.5517
1-B-1	14,850,000.00		12101,~~242~~454.2226		1078,~~033~~080.6078	412,~~158~~929.2369	1491,~~191~~010.8347	26192,~~434~~464.0573	-	-	14,~~835~~758,~~808~~989.1753
3-B-1	5,250,000.00		1741,~~907~~492.7314		936,~~380~~303.8271	49,~~031~~609.6958	1345,~~412~~913.5129	3187,~~320~~405.2443	-	-	5,~~236~~204,~~587~~086.4970
Cert	-		241,~~114~~142,485.5829		-	-	-	241,~~114~~142,485.5829	-	-	-
Total	577,692,000.00		14,~~474~~336,~~546~~479.6939		~~724~~3,~~794~~497,838.5161	~~305~~780,~~659~~629.7157	14,~~030~~278,~~454~~468.2218	28,~~505~~614,~~000~~947.9157	-	-	~~576~~573,~~661~~413,~~545~~531.7882
	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)
1-A-1	01.~~95736~~64000%	253,~~125~~051,~~000~~220.0004			~~208~~368,~~674~~892.2045	-	-	-	~~355~~368,~~289~~892.0645	~~208~~368,~~674~~892.2045	-
2-A-1	1.~~82000~~83000%	11,~~217~~205,~~000~~240.0066			1718,~~579~~227.5319	-	-	-	1718,~~579~~227.5319	1718,~~579~~227.5319	-
3-A-1	34.~~96116~~33500%	~~259~~258,~~500~~775,~~000~~853.0024			~~885~~934,~~153~~827.7077	-	-	-	~~885~~934,~~153~~827.7077	~~885~~934,~~153~~827.7077	-
3-A-IO	6.00000%	37,500,695.00			~~193~~187,~~753~~503.5948	-	-	-	~~193~~187,~~753~~503.5948	~~193~~187,~~753~~503.5948	-
3-M-1	34.~~96116~~82700%	18,~~750~~697,~~000~~677.0026			6375,~~956~~211.1941	-	-	-	6375,~~956~~211.1941	6375,~~956~~211.1941	-
3-M-2	35.~~96116~~22900%	1514,~~000~~958,~~000~~141.0081			5165,~~164~~180.9510	-	-	-	5165,~~164~~180.9510	5165,~~164~~180.9510	-
1-B-1	04.~~95736~~32000%	14,~~850~~845,~~000~~671.0058			1257,~~242~~007.2238	-	-	-	5557,~~114~~007.1338	1257,~~242~~007.2238	-
3-B-1	35.~~96116~~76394%	5,~~250~~235,~~000~~349.0063			1725,~~907~~146.7385	-	-	-	1725,~~907~~146.7385	1725,~~907~~146.7385	-
Cert		-			-	-	-	-	-	241,~~114~~022,354.5825	-
Total		~~615~~614,~~192~~269,~~695~~849.0022			1,~~450~~731,~~432~~996.1163	-	-	-	1,~~639~~731,~~918~~996.8863	12,~~474~~754,~~546~~350.6988	-
							Page 3 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for April 25, 2003 Distribution
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report
SUMMARY					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Principal Collections				~~833~~1,~~028~~777,520.2061	1113,~~805~~884.7387	791,~~502~~564,216.0391	~~376~~3,~~006~~355,622.7939
	Principal Withdrawals				0.00	0.00	0.00	0.00
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL PRINCIPAL				~~833~~1,~~028~~777,520.2061	1113,~~805~~884.7387	791,~~502~~564,216.0391	~~376~~3,~~006~~355,622.7939
	Interest Collections				1,~~207~~643,505.1073	6360,~~170~~656.6037	~~633~~1,~~168~~279,211.05	12,~~903~~983,~~843~~373.7515
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	(16,~~685~~070.9496)	(9890,~~598~~488.3937)	(~~115~~106,~~284~~559.33)
	Interest Fees				(6626,~~000~~224.3135)	(4,~~836~~831.9493)	(~~137~~91,~~057~~406.2265)	(~~207~~122,~~894~~462.4793)
	TOTAL INTEREST				1,~~141~~617,~~504~~281.7938	4139,~~647~~753.7248	~~397~~1,~~512~~097,316.4403	12,~~580~~754,~~664~~350.9589
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS				13,~~974~~394,~~532~~801.99	53,~~453~~638.4535	~~477~~2,~~014~~661,532.4794	16,~~956~~109,~~671~~973.7428
PRINCIPAL - COLLECTIONS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Scheduled Principal				~~229~~317,~~230~~143.3319	1113,~~805~~884.7387	75158,~~037~~284.2496	~~316~~489,~~073~~313.3002
	Curtailments				15134,~~817~~058.3668	0.00	418,~~464~~247.7963	4152,~~464~~306.7931
	Prepayments in Full				~~587~~1,~~980~~326,318.5174	0.00	01,387,684.0032	02,714,003.0006
	Repurchases/Substitutions				0.00	0.00	0.00	0.00
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Principal				0.00	0.00	0.00	0.00
	Other Additional Principal				0.00	0.00	0.00	0.00
	Delinquent Principal				(55247,~~468~~489.7019)	0.00	(22129,~~722~~170.8065)	(22376,~~722~~659.8084)
	Realized Losses				0.00	0.00	0.00	0.00
	Substitution Adjustments- Principal				0.00	0.00	0.00	0.00
	Termination Price Amounts- Principal				0.00	0.00	0.00	0.00
	Additional Principal Amts				0.00	0.00	0.00	0.00
	Principal Advanced				55247,~~468~~489.7019	0.00	22129,~~722~~170.8065	78376,~~191~~659.5084
	TOTAL PRINCIPAL				~~833~~1,~~028~~777,520.2061	1113,~~805~~884.7387	791,~~502~~564,216.0391	~~376~~3,~~006~~355,622.7939
				Page 4 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for April 25, 2003 Distribution
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Scheduled Interest				1,~~172~~698,~~841~~453.4583	60,~~711~~656.7937	~~622~~1,~~578~~352,925.8375	13,~~856~~112,~~132~~035.0795
	Repurchases/Substitutions				0.00	0.00	0.00	0.00
	Liquidations				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Additional Interest				0.00	0.00	0.00	0.00
	Prepayment Interest Shortfalls				(~~106~~4,781.2701)	0.00	0(6,677.0098)	(~~106~~11,458.2799)
	Relief Act Interest Shortfalls				0.00	0.00	0(222.0035)	0(222.0035)
	Delinquent Interest				(~~286~~1,~~056~~342,414.0965)	0.00	(~~213~~1,~~936~~097,583.2316)	(~~499~~2,~~992~~439,997.3281)
	Interest Realized Losses				0.00	0.00	0.00	0.00
	Compensating Interest				~~106~~4,781.2701	0.00	06,677.0098	~~106~~11,458.2799
	Substitution Adjustments- Interest				0.00	0.00	0.00	0.00
	Termination Price Amounts- Interest				0.00	0.00	0.00	0.00
	Additional Interest Amts				~~46,091~~0.6800	~~2,458~~0.8100	~~24,219~~0.3000	~~72,769~~0.7900
	Interest Prepayment Premiums				0.00	0.00	0.00	0.00
	Interest Advanced				~~274~~1,~~628~~287,466.0655	0.00	~~200~~1,~~306~~024,090.1581	~~474~~2,~~934~~311,557.2136
	Cap Contract Payment Amt				0.00	0.00	0.00	0.00
	TOTAL INTEREST				1,~~207~~643,505.1073	6360,~~170~~656.6037	~~633~~1,~~168~~279,211.05	12,~~903~~983,~~843~~373.7515
				Page 5 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for April 25, 2003 Distribution
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Prev. Unreimbursed PMI Premiums				0.00	0.00	0.00	0.00
	Prev. Unreimbursed Spec Haz Premiums				0.00	0.00	0.00	0.00
	Prev. Unreimbursed Liq. Expenses				0.00	0.00	0.00	0.00
	Prev. Unreimbursed Master/Sub-Servicing Fees				0.00	0.00	0.00	0.00
	Amt Rvcd Not Due Bondholder /Deposits in Error				0.00	0.00	0.00	0.00
	Prev. Unreimb. P&I Advances/Non Recov Advances				0.00	0.00	0.00	0.00
	Prev. Unreimbursed Servicing Advances				0.00	0.00	0.00	0.00
	Clear and Terminate Collection Account				0.00	0.00	0.00	0.00
	TOTAL INTEREST WITHDRAWALS				0.00	0.00	0.00	0.00
INTEREST - OTHER ACCOUNTS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Cap Contract Payment Amounts				0.00	0.00	0.00	0.00
	Floor Contract Payment Amounts				0.00	0.00	0.00	0.00
	Swap Contract Payment Amounts				0.00	16,~~685~~070.9496	9890,~~598~~488.3937	~~115~~106,~~284~~559.33
INTEREST - FEES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Owner Trustee Fee				~~425~~423.0082	18.1614	382.5039	~~825~~824.6635
	Indenture Trustee Fee				1,~~250~~246.0053	53.4137	1,~~125~~124.0167	2,~~428~~424.4257
	Bond Insurance Premium Amount				0.00	1,~~774~~771.1696	4039,~~039~~832.8250	41,~~813~~604.9846
	Radian PMI Insurance Premiums				59,~~753~~696.3346	0.00	1832,~~014~~460.5080	2342,~~767~~157.8326
	Current Servicing Fees				5814,~~571~~857.9854	2,~~991~~988.2146	7717,~~495~~606.3929	~~139~~35,~~058~~452.5829
	TOTAL INTEREST FEES				6626,~~000~~224.3135	4,~~836~~831.9493	~~137~~91,~~057~~406.2265	~~207~~122,~~894~~462.4793
				Page 6 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Credit Enhancement Report for April 25, 2003 Distribution
	Credit Enhancement Report for May 27, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current Periods Required Overcollateralization Amt				1,500,000.25	1,602,435.20	2,~~277~~025,~~357~~010.5853	5,~~379~~127,~~793~~445.0398
	Current Periods Overcollateralization Amt				1,~~429~~500,~~619~~000.0225	1,602,435.20	2,~~203~~025,~~000~~010.2054	5,~~235~~127,~~054~~445.4299
	Current Periods Net Monthly Excess Cashflow				50329,411.1477	2421,~~114~~526.5829	~~176~~671,~~596~~638.0255	~~200~~693,~~710~~164.6084
	Current Periods Overcollateralization Release				500.1400	460.3900	0.00	460.3900
	Current Periods Principal Available Funds Shortfall						0.00	0.00
	60 Day Rolling Delinquency Amount				0.00	0.00	0.00	0.00
	90 Day Rolling Delinquency Amount				0.00	0.00	0.00	0.00
	Available Funds Rate				35.~~7361~~7639%	43.~~0570~~9910%	04.~~9574~~6080%	04.~~9574~~6080%
	90 Day Delinquency Percentage							0.0000%
				Page 7 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for April 25, 2003 Distribution
	Collateral Report for May 27, 2003 Distribution
	Collateral Report
COLLATERAL					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Loan Count:
	Original				1456	24	1004	2484
	Prior				-1,452	-24	-1,004	-2,480
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(48)	-	-(6)	(414)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				1,~~452~~444	24	~~1,004~~998	2,~~480~~466
	Principal Balance:
	Original				300,000,050.39	12,819,481.59	270,001,404.18	582,820,936.16
	Prior				-299,167,022.19	-12,807,675.86	-269,921,902.15	-581,896,600.20
	Prefunding				-	-	-	-
	Scheduled Principal				(~~229~~317,~~230~~143.3319)	(1113,~~805~~884.7387)	(75158,~~037~~284.2496)	(~~316~~489,~~073~~313.3002)
	Partial and Full Voluntary Prepayments				(~~603~~1,~~797~~460,377.8742)	-	(41,~~464~~405,931.7995)	(~~608~~2,~~262~~866,309.6637)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				~~299~~297,~~167~~389,~~022~~501.1958	12,~~807~~793,~~675~~790.8699	~~269~~268,~~921~~357,~~902~~685.1524	~~581~~578,~~896~~540,~~600~~977.2081
PREFUNDING					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for April 25, 2003 Distribution
	Collateral Report for May 27, 2003 Distribution
	Collateral Report
CHARACTERISTICS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Weighted Average Coupon Original				4.691365%	5.683081%	2.767003%	3.821686%
	Weighted Average Coupon Prior				4.691365%	5.683081%	2.767003%	3.821686%
	Weighted Average Coupon Current				46.~~691365~~812732%	5.~~683081~~683126%	26.~~767003~~014743%	36.~~821686~~417709%
	Weighted Average Months to Maturity Original				342	357	359	350
	Weighted Average Months to Maturity Prior				-342	-357	-359	-350
	Weighted Average Months to Maturity Current				~~342~~341	~~357~~356	~~359~~358	~~350~~349
	Weighted Avg Remaining Amortization Term Original				344	356	359	351
	Weighted Avg Remaining Amortization Term Prior				-344	-356	-359	-351
	Weighted Avg Remaining Amortization Term Current				~~344~~343	~~356~~355	~~359~~358	~~351~~350
	Weighted Average Seasoning Original				1.59	1.81	1.33	1.47
	Weighted Average Seasoning Prior				-1.59	-1.81	-1.33	-1.47
	Weighted Average Seasoning Current				12.5958	12.81	12.33	12.47
Note: Original information refers to deal issue.
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for April 25, 2003 Distribution
	Collateral Report for May 27, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Weighted Average Margin Original					2.907%	3.129%
	Weighted Average Margin Prior					2.907%	3.129%
	Weighted Average Margin Current					2.907%	3.129%
	Weighted Average Max Rate Original					10.683%	12.025%
	Weighted Average Max Rate Prior					10.683%	12.025%
	Weighted Average Max Rate Current					10.683%	12.025%
	Weighted Average Min Rate Original					5.683%	3.538%
	Weighted Average Min Rate Prior					5.683%	3.538%
	Weighted Average Min Rate Current					5.683%	3.~~538~~537%
	Weighted Average Cap Up Original					1.000%	1.054%
	Weighted Average Cap Up Prior					1.000%	1.054%
	Weighted Average Cap Up Current					1.000%	1.054%
	Weighted Average Cap Down Original					1.000%	1.011%
	Weighted Average Cap Down Prior					1.000%	1.011%
	Weighted Average Cap Down Current					1.000%	1.011%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current Servicing Fees				5814,~~571~~857.9854	2,~~991~~988.2146	7717,~~495~~606.3929	~~139~~35,~~058~~452.5829
	Delinquent Servicing Fees				1154,~~428~~948.0310	0.00	1373,~~630~~492.0835	25128,~~058~~440.1145
	TOTAL SERVICING FEES				7069,~~000~~805.0164	2,~~991~~988.2146	91,~~125~~098.4764	~~164~~163,~~116~~892.6974
	Total Servicing Fees				7069,~~000~~805.0164	2,~~991~~988.2146	91,~~125~~098.4764	~~164~~163,~~116~~892.6974
	Compensating Interest				~~106~~4,781.2701	0.00	06,677.0098	~~106~~11,458.2799
	Delinquent Servicing Fees				(1154,~~428~~948.0310)	0.00	(1373,~~630~~492.0835)	(25128,~~058~~440.1145)
	COLLECTED SERVICING FEES				5819,~~678~~638.2555	2,~~991~~988.2146	7724,~~495~~284.3927	~~139~~46,~~164~~911.8528
	Current PPIS				~~106~~4,781.2701	0.00	06,677.0098	~~106~~11,458.2799
	Current Net PPIS				~~212~~9,562.5402	0.00	013,355.0096	~~212~~22,917.5498
	Total Advanced Principal For Current Payment Date				55247,~~468~~489.7019	0.00	22129,~~722~~170.8065	78376,~~191~~659.5084
	Total Advanced Interest For Current Payment Date				~~274~~1,~~628~~287,466.0655	0.00	~~200~~1,~~306~~024,090.1581	~~474~~2,~~934~~311,557.2136
	TOTAL ADVANCES FOR CURRENT PERIOD				~~330~~1,~~096~~534,955.7674	0.00	~~223~~1,~~028~~153,261.9546	~~553~~2,~~125~~688,217.7120
ADDITIONAL COLLATERAL INFORMATION					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 10 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Delinquency Report for April 25, 2003 Distribution
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Delinquency Report for April 25, 2003 Distribution
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report - Group 1 - Adj Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Delinquency Report for April 25, 2003 Distribution
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report - Group 2 - Adj Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Delinquency Report for April 25, 2003 Distribution
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report - Group 2 - Fixed Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-	-	-	-
		% Balance			0.00%	0.00%	0.00%	0.00%
		# Loans			-	-	-	-
		% # Loans			0.00%	0.00%	0.00%	0.00%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 14 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	REO Report for April 25, 2003 Distribution
	REO Report for May 27, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 - Adj Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 - Adj Group; REO Book Value = 000.00
Total Current Balance = 000.00				Loan Group 3 = Group 2 - Fixed Group; REO Book Value = 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 15 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Prepayment Report for April 25, 2003 Distribution
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current
	Number of Paid in Full Loans				48	-	-6	414
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				48	-	-6	414
	Paid in Full Balance				~~587~~1,~~980~~326,318.5174	-	-1,387,684.32	~~587~~2,~~980~~714,003.5106
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				15134,~~817~~058.3668	-	418,~~464~~247.7963	20152,~~282~~306.1531
	Total Prepayment Amount				~~603~~1,~~797~~460,377.8742	-	41,~~464~~405,931.7995	~~608~~2,~~262~~866,309.6637
	Cumulative
	Number of Paid in Full Loans				412	-	-6	418
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				412	-	-6	418
	Paid in Full Balance				~~587~~1,~~980~~914,299.5125	-	-1,387,684.32	~~587~~3,~~980~~301,983.5157
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				15149,~~817~~876.3604	-	422,~~464~~712.7942	20172,~~282~~588.1546
	Total Prepayment Amount				~~603~~2,~~797~~064,175.8729	-	41,~~464~~410,396.7974	~~608~~3,~~262~~474,572.6603
	Current Prin Balance of Repurchases Per Sec 3.18				0.00	0.00	0.00	0.00
	Cumulative Prin Balance of Repurchases Per Sec 3.18				0.00	0.00	0.00	0.00
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Prepayment Report for April 25, 2003 Distribution
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	SMM				0.2049%	0.00%	0.0052%	0.1049%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off				0.2035%	0.00%	0.0026%	0.1030%
	CPR				25.3971%	0.00%	06.0208%	15.2576%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off				24.3906%	0.00%	03.0210%	13.2553%
	PSA				~~753~~1105.3512%	0.00%	71305.4419%	~~422~~1165.4864%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				~~753~~974.3571%	0.00%	7845.4436%	~~422~~894.4852%
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Prepayment Report for April 25, 2003 Distribution
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
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 18 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Prepayment Detail Report for April 25, 2003 Distribution
	Prepayment Detail Report for May 27, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 4						Loan Group 1 = Group 1 - Adj Group
Total Loan Count = 14						Loan Group 1 = Group 1 - Adj Group
Total Original Principal Balance = 588,750.00						Loan Group 2 = Group 2 - Adj Group
Total Original Principal Balance = 2,721,550.00						Loan Group 2 = Group 2 - Adj Group
Total Prepayment Amount = 587,980.51						Loan Group 3 = Group 2 - Fixed Group
Total Prepayment Amount = 2,714,003.06						Loan Group 3 = Group 2 - Fixed Group
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
1100362556 3			164,000.00	163,680.39	Mar-31-03	6.125%	CA - 69.79%	Paid Off - 360	Feb-24-03
1100356344 1			254,000.00	252,613.69	Apr-09-03	6.500%	RI - 94.43%	Paid Off - 360	Feb-25-03
1100365847 3			198,000.00	197,719.60	Mar-31-03	7.750%	CA - 90.00%	Paid Off - 360	Mar-19-03
1100370061 1			259,200.00	258,851.36	Apr-01-03	8.005%	IL - 90.00%	Paid Off - 360	Mar-10-03
1100369881 3			90,000.00	89,942.61	Mar-31-03	8.250%	FL - 90.00%	Paid Off - 360	Feb-21-03
1100373777 1			189,400.00	188,772.32	Apr-09-03	6.990%	SC - 79.98%	Paid Off - 360	Mar-20-03
1100371190 3			136,750.00	136,637.91	Mar-27-03	7.000%	FL - 79.98%	Paid Off - 360	Feb-27-03
1103024632 1			175,500.00	175,196.95	Apr-16-03	6.750%	CA - 90.00%	Paid Off - 360	Mar-19-03
2500025300 1			296,250.00	296,250.00	Apr-01-03	5.625%	IL - 75.00%	Paid Off - 360	Mar-13-03
2500025847 1			216,000.00	216,000.00	Apr-01-03	7.000%	IL - 90.00%	Paid Off - 360	Mar-26-03
1100366035 3			136,300.00	136,027.94	Apr-03-03	6.000%	CA - 69.99%	Paid Off - 360	Feb-27-03
1100366058 3			118,800.00	118,562.87	Apr-03-03	6.000%	CA - 69.98%	Paid Off - 360	Feb-27-03
1100369269 3			81,500.00	81,215.86	Apr-24-03	7.875%	CA - 79.90%	Paid Off - 360	Mar-14-03
1100370027 3			308,000.00	307,595.69	Apr-22-03	8.125%	CA - 80.00%	Paid Off - 360	Feb-26-03
1100371352 3			105,750.00	105,631.00	Apr-22-03	8.875%	MO - 75.00%	Paid Off - 360	Feb-24-03
1100372223 3			219,450.00	219,139.22	Apr-04-03	7.750%	CA - 95.00%	Paid Off - 360	Feb-28-03
1103015465 3			235,000.00	231,844.76	Apr-09-03	6.375%	CA - 87.04%	Paid Off - 180	Feb-25-03
1103026251 3			126,400.00	126,301.40	Apr-14-03	7.250%	FL - 75.24%	Paid Off - 360	Mar-18-03
					Page 19 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Realized Loss Report for April 25, 2003 Distribution
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	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%	0.0000%	0.0000%	0.0000%
	Group 1 - Adj		Group 2 - Fixed				3 Months Moving Average
	Group 2 - Adj
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Realized Loss Report for April 25, 2003 Distribution
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	MDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	CDR				0.00%	0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.00%	0.00%
	SDA				0.00%	0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	0.00%	0.00%	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
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 21 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Realized Loss Report for April 25, 2003 Distribution
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1 - Adj		Group 2 - Fixed
	Group 2 - Adj
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 22 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Realized Loss Detail Report for April 25, 2003 Distribution
	Realized Loss Detail Report for May 27, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 - Adj Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 - Adj Group
Total Prior Principal Balance = 0.00						Loan Group 3 = Group 2 - Fixed Group
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 23 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Triggers, Adj. Rate Cert. and Miscellaneous Report for April 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for May 27, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADJUSTABLE RATE CERTIFICATE INFORMATION					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current Periods Basis Risk Shortfall Carry Forward Amt				0.00	0.00	~~189,486~~0.7700	~~189,486~~0.7700
	Cumulative Basis Risk Shortfall Carry Forward Amt				0.00	0.00	~~189,486~~0.7700	~~189,486~~0.7700
	Current Periods LIBOR Rate							1.~~3100~~3200%
ADDITIONAL INFORMATION					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current Periods Net Mortgage Rate				46.~~4674~~4871%	5.3964%	25.~~4946~~4587%	35.~~5739~~9861%
	Total Derivative Payments				0.00	16,~~685~~070.9496	9890,~~598~~488.3937	~~115~~106,~~284~~559.33
	333304 - 472661D				0.00	0.00	2928,~~608~~415.3233	2928,~~608~~415.3233
	333295 - 472655D				0.00	0.00	3531,~~696~~566.6791	3531,~~696~~566.6791
	333299 - 472667D				0.00	0.00	76,~~427~~963.7728	76,~~427~~963.7728
	333287 - 472439D				0.00	0.00	2523,~~865~~542.6385	2523,~~865~~542.6385
	333305 - 472659D				0.00	4,~~804~~564.5648	0.00	4,~~804~~564.5648
	333308 - 472651D				0.00	11,~~881~~506.3848	0.00	11,~~881~~506.3848
				Page 24 of 24				© COPYRIGHT 2003 Deutsche Bank

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