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 1125, 2003 IMPAC CMB TRUST SERIES 2003-4. (as Company under a Series 2003-4 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 2003-4 (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 June 1125, 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: ~~Jun~~Jul 1702, 2003 By: /s/ David Co David Co Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of June 1125, 2003.

	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	June 11, 2003 Distribution - SUPPLEMENTAL
	June 25, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	~~Collateral~~Credit Enhancement Report				7
				Total Number of Pages				9
			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: June 1125, 2003
	Underwriter(s):		Countrywide Funding Corporation Underwriter					Record Date: ~~April~~June 2324, 2003
								March 31, 2003
								May 30, 2003
						Page 1 of 9					© COPYRIGHT 2003 Deutsche Bank
						Page 1 of 24					© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Certificate Payment Report for June 11, 2003 Distribution
	Certificate Payment Report for June 25, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
1-A-1	FLT, STEP,	253,125,000.00			251,573,685.17	-332,356.79	-2,958,482.78	-3,290,839.57	-	-	~~251~~248,~~573~~615,~~685~~202.1739
2-A-1	FLT, STEP,	11,217,000.00			11,191,355.79	-16,497.92	-11,930.51	-28,428.43	-	-	11,~~191~~179,~~355~~425.7928
3-A-1	STEP, AFC	259,500,000.00			257,230,571.50	~~129~~929,~~519~~245.2944	-618,219.99	~~129~~1,~~519~~547,465.2943	-	-	~~257~~256,~~230~~612,~~571~~351.5051
3-A-IO	IO, NTL	-			-	-187,503.48	-	-187,503.48	-	-	-
3-M-1	MEZ, STEP,	18,750,000.00			18,586,023.96	1774,~~045~~762.8428	-44,669.07	17119,~~045~~431.8435	-	-	18,~~586~~541,~~023~~354.9689
3-M-2	MEZ, STEP,	15,000,000.00			14,868,819.17	1864,~~661~~790.6688	-35,735.26	18100,~~661~~526.6614	-	-	14,~~868~~833,~~819~~083.1791
1-B-1	SUB, FLT, S	14,850,000.00			14,758,989.53	-51,361.28	-173,564.32	-224,925.60	-	-	14,~~758~~585,~~989~~425.5321
3-B-1	SUB, STEP,	5,250,000.00			5,204,086.70	924,~~817~~965.2122	-12,507.34	937,~~817~~472.2156	-	-	5,~~204~~191,~~086~~579.7036
Cert	R	-			-	-1,037,009.52	-	-1,037,009.52	-	-	-
Total		577,692,000.00			573,413,531.82	~~175~~2,~~044~~718,492.0081	-3,855,109.28	~~175~~6,~~044~~573,602.0009	-	-	~~573~~569,~~413~~558,~~531~~422.8255
	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	0405/2527/03	06/1024/03		A-Act/360	45254NED5	253,125,000.00	993.871349	-1.313014	-11.687833	-13.000848	~~993~~982.~~871349~~183516
2-A-1	0405/2527/03	06/1024/03		A-Act/360	45254NEF0	11,217,000.00	997.713809	-1.470796	-1.063610	-2.534406	~~997~~996.~~713809~~650199
3-A-1	0405/2527/03	06/1024/03		AF-~~Act~~30/360	45254NEG8	259,500,000.00	991.254611	03.~~499111~~580907	-2.382351	05.~~499111~~963258	~~991~~988.~~254611~~872260
3-A-IO	0405/2527/03	06/1024/03		AF-~~Act~~30/360	45254NEH6	37,500,695.00	1,000.000000	-5.000000	-	-5.000000	1,000.000000
3-M-1	0405/2527/03	06/1024/03		AF-~~Act~~30/360	45254NEJ2	18,750,000.00	991.254611	03.~~909111~~987322	-2.382351	06.~~909111~~369672	~~991~~988.~~254611~~872261
3-M-2	0405/2527/03	06/1024/03		AF-~~Act~~30/360	45254NEK9	15,000,000.00	991.254611	14.~~244111~~319392	-2.382351	16.~~244111~~701743	~~991~~988.~~254611~~872261
1-B-1	0405/2527/03	06/1024/03		A-Act/360	45254NEE3	14,850,000.00	993.871349	-3.458672	-11.687833	-15.146505	~~993~~982.~~871349~~183516
3-B-1	0405/2527/03	06/1024/03		AF-~~Act~~30/360	45254NEL7	5,250,000.00	991.254610	14.~~869945~~755280	-2.382351	17.~~869945~~137631	~~991~~988.~~254610~~872259
Cert	0405/2527/03	06/1024/03		-Act/360		-	-	-	-	-	-
							Page 2 of 9				© COPYRIGHT 2003 Deutsche Bank
							Page 2 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Certificate Payment Report for June 11, 2003 Distribution
	Certificate Payment Report for June 25, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
1-A-1	253,125,000.00		~~655~~987,~~415~~772.8968		14,~~330~~140,~~922~~572.3231	~~220~~369,~~392~~225.5130	14,~~551~~509,~~314~~797.8361	25,~~206~~497,~~730~~570.7229	-	-	~~251~~248,~~573~~615,~~685~~202.1739
2-A-1	11,217,000.00		3248,~~404~~902.2315		0.00	2537,~~644~~574.2172	2537,~~644~~574.2172	5886,~~048~~476.4487	-	-	11,~~191~~179,~~355~~425.7928
3-A-1	259,500,000.00		12,~~872~~671,~~271~~997.5267		12,~~794~~135,~~440~~567.4613	~~474~~752,~~988~~081.0335	2,~~269~~887,~~428~~648.49	45,~~141~~559,~~700~~646.0116	-	-	~~257~~256,~~230~~612,~~571~~351.5051
3-A-IO	-		~~375~~562,~~006~~510.9644		-	-	-	~~375~~562,~~006~~510.9644	-	-	-
3-M-1	18,750,000.00		~~150~~208,~~633~~349.2973		~~136~~165,~~520~~172.0921	2743,~~455~~472.9691	~~163~~208,~~976~~645.0512	~~314~~416,~~609~~994.3485	-	-	18,~~586~~541,~~023~~354.9689
3-M-2	15,000,000.00		~~130~~176,~~542~~671.6082		~~121~~151,~~571~~700.2558	915,~~609~~215.5852	~~131~~166,~~180~~916.8410	~~261~~343,~~723~~587.4492	-	-	14,~~868~~833,~~819~~083.1791
1-B-1	14,850,000.00		~~101~~152,~~454~~815.2654		78242,~~080~~913.7857	1221,~~929~~661.6922	91264,~~010~~574.4779	~~192~~417,~~464~~390.7333	-	-	14,~~758~~585,~~989~~425.5321
3-B-1	5,250,000.00		5166,~~309~~457.3536		3643,~~303~~205.7112	915,~~609~~215.5852	4558,~~913~~420.2963	97124,~~222~~877.6499	-	-	5,~~204~~191,~~086~~579.7036
Cert	-		12,~~142~~179,~~485~~494.2981		-	-	-	12,~~142~~179,~~485~~494.2981	-	-	-
Total	577,692,000.00		47,~~511~~054,~~523~~972.3920		36,~~497~~879,~~838~~130.6192	~~780~~1,~~629~~254,446.5754	48,~~278~~133,~~468~~577.1846	815,~~789~~188,~~991~~549.5766	-	-	~~573~~569,~~413~~558,~~531~~422.8255
	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	1.64000%	251,573,685.17			-332,356.79	-	-	-	-332,356.79	-332,356.79	-
2-A-1	1.83000%	11,191,355.79			-16,497.92	-	-	-	-16,497.92	-16,497.92	-
3-A-1	04.~~60422~~33500%	257,230,571.50			~~129~~929,~~519~~245.2944	-	-	-	~~129~~929,~~519~~245.2944	~~129~~929,~~519~~245.2944	-
3-A-IO	6.00000%	37,500,695.00			-187,503.48	-	-	-	-187,503.48	-187,503.48	-
3-M-1	14.~~10056~~82700%	18,586,023.96			1774,~~045~~762.8428	-	-	-	1774,~~045~~762.8428	1774,~~045~~762.8428	-
3-M-2	15.~~50610~~22900%	14,868,819.17			1864,~~661~~790.6688	-	-	-	1864,~~661~~790.6688	1864,~~661~~790.6688	-
1-B-1	4.32000%	14,758,989.53			-51,361.28	-	-	-	-51,361.28	-51,361.28	-
3-B-1	25.~~26373~~75668%	5,204,086.70			924,~~817~~965.2122	-	-	-	924,~~817~~965.2122	924,~~817~~965.2122	-
Cert		-			-	-	-	-	-	-1,037,009.52	-
Total		610,914,226.82			~~175~~1,~~044~~681,483.0029	-	-	-	~~175~~1,~~044~~681,483.0029	~~175~~2,~~044~~718,492.0081	-
							Page 3 of 9				© COPYRIGHT 2003 Deutsche Bank
							Page 3 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for June 11, 2003 Distribution
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report
SUMMARY					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Principal Collections				0711,131.0067	011,930.0051	03,132,047.0011	03,855,109.0029
	Principal Withdrawals				0.00	0.00	0.00	0.00
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL PRINCIPAL				0711,131.0067	011,930.0051	03,132,047.0011	03,855,109.0029
	Interest Collections				~~175~~1,~~044~~673,430.0048	062,610.0077	01,275,274.0083	~~175~~3,~~044~~011,316.0008
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Other Accounts				0.00	0(16,872.0028)	0(108,942.0063)	0(125,814.0091)
	Interest Fees				0(66,475.0084)	0(4,928.0062)	0(95,603.0091)	0(167,008.0037)
	TOTAL INTEREST				~~175~~1,~~044~~606,954.0064	040,809.0087	01,070,728.0029	~~175~~2,~~044~~718,492.0080
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS				~~175~~2,~~044~~318,086.0031	052,740.0038	04,202,775.0040	~~175~~6,~~044~~573,602.0009
PRINCIPAL - COLLECTIONS					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Scheduled Principal				0318,737.0040	011,930.0051	0157,564.0032	0488,232.0023
	Curtailments				050,300.0085	0.00	041,648.0068	091,949.0053
	Prepayments in Full				0342,093.0042	0.00	02,932,834.0011	03,274,927.0053
	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				0(61,751.0064)	0.00	0(120,622.0091)	0(182,374.0055)
	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				061,751.0064	0.00	0120,622.0091	0182,374.0055
	TOTAL PRINCIPAL				0711,131.0067	011,930.0051	03,132,047.0011	03,855,109.0029
				Page 4 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 4 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for June 11, 2003 Distribution
	Collection Account Report for June 25, 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				~~175~~1,~~044~~687,693.0067	062,610.0077	01,343,530.0081	~~175~~3,~~044~~093,835.0025
	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				0(2,024.0005)	0.00	0(5,045.0070)	0(7,069.0075)
	Relief Act Interest Shortfalls				0.00	0.00	0(221.0046)	0(221.0046)
	Delinquent Interest				0(364,889.0040)	0.00	0(1,016,844.0023)	0(1,381,733.0063)
	Interest Realized Losses				0.00	0.00	0.00	0.00
	Compensating Interest				02,024.0005	0.00	05,045.0070	07,069.0075
	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				0.00	0.00	0.00	0.00
	Interest Prepayment Premiums				0.00	0.00	0.00	0.00
	Interest Advanced				0350,626.0021	0.00	0948,809.0071	01,299,435.0092
	Cap Contract Payment Amt				0.00	0.00	0.00	0.00
	TOTAL INTEREST				~~175~~1,~~044~~673,430.0048	062,610.0077	01,275,274.0083	~~175~~3,~~044~~011,316.0008
				Page 5 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 5 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collection Account Report for June 11, 2003 Distribution
	Collection Account Report for June 25, 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	016,872.0028	0108,942.0063	0125,814.0091
INTEREST - FEES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Owner Trustee Fee				0421.0030	018.0073	0380.0017	0820.0020
	Indenture Trustee Fee				01,239.0012	055.0008	01,118.0016	02,412.0036
	Bond Insurance Premium Amount				0.00	01,770.0008	039,364.0007	041,134.0015
	Radian PMI Insurance Premiums				09,687.0072	0.00	032,205.0030	041,893.0002
	Current Servicing Fees				055,127.0070	03,084.0073	022,536.0021	080,748.0064
	TOTAL INTEREST FEES				066,475.0084	04,928.0062	095,603.0091	0167,008.0037
				Page 6 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 6 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for June 11, 2003 Distribution
	Credit Enhancement Report for June 25, 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	2,025,010.53	5,127,445.98
	Current Periods Overcollateralization Amt				1,500,000.24	1,602,435.20	2,025,010.53	5,127,445.97
	Current Periods Net Monthly Excess Cashflow				325,687.34	24,311.95	687,231.69	711,543.64
	Current Periods Overcollateralization Release				0.00	0.00	0.01	0.01
	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				5.7567%	4.5265%	4.9895%	4.9895%
	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 June 25, 2003 Distribution
	Collateral Report
COLLATERAL					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Loan Count:
	Original				1456	24	1004	2484
	Prior				1,444	24	998	2,466
	Prefunding				8-	-	6-	14-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(83)	-	(67)	(1410)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				1,~~444~~441	24	~~998~~991	2,~~466~~456
	Principal Balance:
	Original				300,000,050.39	12,819,481.59	270,001,404.18	582,820,936.16
	Prior				297,389,501.58	12,793,790.99	268,357,685.24	578,540,977.81
	Prefunding				-	-	-	-
	Scheduled Principal				-(318,737.40)	-(11,930.51)	-(157,564.32)	-(488,232.23)
	Partial and Full Voluntary Prepayments				-(392,394.27)	-	-(2,974,482.79)	-(3,366,877.06)
	Repurchases				-	-	-	-
	Liquidations				-	-	-	-
	Current				~~297~~296,~~389~~678,~~501~~369.5891	12,~~793~~781,~~790~~860.9948	~~268~~265,~~357~~225,~~685~~638.2413	~~578~~574,~~540~~685,~~977~~868.8152
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 7 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 8 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for June 11, 2003 Distribution
	Collateral Report for June 25, 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				6.812732%	5.683126%	6.014743%	6.417709%
	Weighted Average Coupon Current				6.~~853452~~810033%	5.~~689294~~872608%	6.~~049802~~007791%	6.~~454933~~417181%
	Weighted Average Months to Maturity Original				342	357	359	350
	Weighted Average Months to Maturity Prior				341	356	358	349
	Weighted Average Months to Maturity Current				~~341~~340	~~356~~355	~~358~~357	~~349~~348
	Weighted Avg Remaining Amortization Term Original				344	356	359	351
	Weighted Avg Remaining Amortization Term Prior				343	355	358	350
	Weighted Avg Remaining Amortization Term Current				~~343~~342	~~355~~354	~~358~~357	~~350~~349
	Weighted Average Seasoning Original				1.59	1.81	1.33	1.47
	Weighted Average Seasoning Prior				2.58	2.81	2.33	2.47
	Weighted Average Seasoning Current				23.58	23.81	23.33	23.47
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 8 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 9 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Collateral Report for June 11, 2003 Distribution
	Collateral Report for June 25, 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~~128%
	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~~021%
	Weighted Average Min Rate Original					5.683%	3.538%
	Weighted Average Min Rate Prior					5.683%	3.537%
	Weighted Average Min Rate Current					5.683%	3.~~537~~534%
	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				055,127.0070	03,084.0073	022,536.0021	080,748.0064
	Delinquent Servicing Fees				014,263.0019	0.00	068,034.0051	082,297.0070
	TOTAL SERVICING FEES				069,390.0089	03,084.0073	090,570.0072	0163,046.0034
	Total Servicing Fees				069,390.0089	03,084.0073	090,570.0072	0163,046.0034
	Compensating Interest				02,024.0005	0.00	05,045.0070	07,069.0075
	Delinquent Servicing Fees				0(14,263.0019)	0.00	0(68,034.0051)	0(82,297.0070)
	COLLECTED SERVICING FEES				057,151.0075	03,084.0073	027,581.0091	087,818.0039
	Current PPIS				02,024.0005	0.00	05,045.0070	07,069.0075
	Current Net PPIS				04,048.0010	0.00	010,091.0040	014,139.0050
	Total Advanced Principal For Current Payment Date				061,751.0064	0.00	0120,622.0091	0182,374.0055
	Total Advanced Interest For Current Payment Date				0350,626.0021	0.00	0948,809.0071	01,299,435.0092
	TOTAL ADVANCES FOR CURRENT PERIOD				0412,377.0085	0.00	01,069,432.0062	01,481,810.0047
ADDITIONAL COLLATERAL INFORMATION					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 9 of 9				© COPYRIGHT 2003 Deutsche Bank
				Page 10 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			2,805,007.40	-	-	2,805,007.40
		% Balance			0.49%	0.00%	0.00%	0.49%
		# Loans			13	-	-	13
		% # Loans			0.53%	0.00%	0.00%	0.53%
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		-	2,805,007.40	-	-	2,805,007.40
		% Balance		0.00%	0.49%	0.00%	0.00%	0.49%
		# Loans		-	13	-	-	13
		% # Loans		0.00%	0.53%	0.00%	0.00%	0.53%
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 June 25, 2003 Distribution
	Delinquency Report - Group 1 - Adj Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			949,920.93	-	-	949,920.93
		% Balance			0.36%	0.00%	0.00%	0.36%
		# Loans			4	-	-	4
		% # Loans			0.40%	0.00%	0.00%	0.40%
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		-	949,920.93	-	-	949,920.93
		% Balance		0.00%	0.36%	0.00%	0.00%	0.36%
		# Loans		-	4	-	-	4
		% # Loans		0.00%	0.40%	0.00%	0.00%	0.40%
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 June 25, 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 June 25, 2003 Distribution
	Delinquency Report - Group 2 - Fixed Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1,855,086.47	-	-	1,855,086.47
		% Balance			0.63%	0.00%	0.00%	0.63%
		# Loans			9	-	-	9
		% # Loans			0.62%	0.00%	0.00%	0.62%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		-	1,855,086.47	-	-	1,855,086.47
		% Balance		0.00%	0.63%	0.00%	0.00%	0.63%
		# Loans		-	9	-	-	9
		% # Loans		0.00%	0.62%	0.00%	0.00%	0.62%
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 June 25, 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 June 25, 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				3	-	7	10
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				3	-	7	10
	Paid in Full Balance				342,093.42	-	2,932,834.11	3,274,927.53
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				50,300.85	-	41,648.68	91,949.53
	Total Prepayment Amount				392,394.27	-	2,974,482.79	3,366,877.06
	Cumulative
	Number of Paid in Full Loans				15	-	13	28
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				15	-	13	28
	Paid in Full Balance				2,256,392.67	-	4,320,518.43	6,576,911.10
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				200,176.89	-	64,361.10	264,537.99
	Total Prepayment Amount				2,456,569.56	-	4,384,879.53	6,841,449.09
	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 June 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	SMM				0.13%	0.00%	1.11%	0.58%
	3 Months Avg SMM				0.27%	0.00%	0.54%	0.39%
	12 Months Avg SMM
	Avg SMM Since Cut-off				0.27%	0.00%	0.54%	0.39%
	CPR				1.57%	0.00%	12.53%	6.77%
	3 Months Avg CPR				3.24%	0.00%	6.35%	4.62%
	12 Months Avg CPR
	Avg CPR Since Cut-off				3.24%	0.00%	6.35%	4.62%
	PSA				219.59%	0.00%	1880.67%	975.05%
	3 Months Avg PSA Approximation				627.08%	0.00%	1361.55%	934.71%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				627.08%	0.00%	1361.55%	934.71%
	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 June 25, 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 June 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 10						Loan Group 1 = Group 1 - Adj Group
Total Original Principal Balance = 3,391,290.00						Loan Group 2 = Group 2 - Adj Group
Total Prepayment Amount = 3,274,927.53						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
1100370234 1			337,450.00	336,878.26	May-09-03	8.875%	CA - 89.99%	Paid Off - 360	Feb-25-03
1100373821 1			1,000,000.00	1,000,000.00	May-30-03	5.500%	CA - 27.78%	Paid Off - 360	Mar-21-03
1100374108 1			213,000.00	212,532.65	May-01-03	5.500%	IL - 75.00%	Paid Off - 360	Mar-24-03
1103022415 1			480,000.00	479,086.75	May-21-03	6.250%	WA - 80.00%	Paid Off - 360	Mar-24-03
2500024310 1			252,000.00	251,835.16	May-14-03	8.125%	CA - 88.43%	Paid Off - 360	Mar-06-03
2500024973 1			153,000.00	153,000.00	May-27-03	7.500%	CA - 90.00%	Paid Off - 360	Mar-06-03
2500025272 1			500,000.00	499,501.29	May-29-03	5.990%	CA - 89.29%	Paid Off - 360	Mar-25-03
1100366057 3			260,000.00	146,572.26	May-12-03	8.750%	NY - 89.66%	Paid Off - 360	Mar-04-03
1100369244 3			50,400.00	50,228.63	May-12-03	8.000%	FL - 90.00%	Paid Off - 360	Jan-30-03
1100371214 3			145,440.00	145,292.53	May-01-03	9.375%	MD - 80.00%	Paid Off - 360	Mar-13-03
					Page 19 of 24				© COPYRIGHT 2003 Deutsche Bank
	Impac CMB Trust 2003-4
	Mortgage Pass-Through Certificates
	Series 2003-4
	Realized Loss Report for June 25, 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 June 25, 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				0.00%	0.00%	0.00%	0.00%
	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				0.00%	0.00%	0.00%	0.00%
	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				0.00%	0.00%	0.00%	0.00%
	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 June 25, 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 June 25, 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 June 25, 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	0.00	0.00
	Cumulative Basis Risk Shortfall Carry Forward Amt				0.00	0.00	0.00	0.00
	Current Periods LIBOR Rate							1.3200%
ADDITIONAL INFORMATION					GROUP 2 - FIXED	GROUP 2 - ADJ	GROUP 1 - ADJ	TOTAL
	Current Periods Net Mortgage Rate				6.4842%	5.5763%	5.4521%	5.9854%
	Total Derivative Payments				0.00	15,340.77	89,639.37	104,980.14
	333304 - 472661D				0.00	0.00	27,204.75	27,204.75
	333295 - 472655D				0.00	0.00	32,178.28	32,178.28
	333299 - 472667D				0.00	0.00	6,785.93	6,785.93
	333287 - 472439D				0.00	0.00	23,470.41	23,470.41
	333305 - 472659D				0.00	4,402.75	0.00	4,402.75
	333308 - 472651D				0.00	10,938.02	0.00	10,938.02
				Page 24 of 24				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · IMH ASSETS CORP IMPAC CMB TRUST SERIES 2003-4