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): ~~April~~September 2627, 2004 ~~IMPAC~~(Date of earliest event reported) Impac CMB ~~TRUST~~Trust ~~SERIES~~Series 2004-1 (as ~~Company~~Issuer under athe ~~Series 2004-1~~ Indenture, dated as of January 2429, 2004, providing for, ~~inter alia,~~ the issuance ofTrust ~~Collateralized Asset Backed Bonds~~Certificates, Series 2004-1). ~~IMH ASSETS CORP IMPAC CMB TRUST SERIES 2004-1~~ (Exact name of Registrant as specified in its Charter) California (State or Other Jurisdiction of Incorporation) 333-109503-03 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 (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(b) under the Exchange Act (17 CFR 240.14a-12(b)) [ ] 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 58.01 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 79.01 Financial ~~Statement~~Statements and Exhibits (c) Exhibits: ~~(as~~Exhibit ~~noted~~No. inDescription ~~Item~~99.1 ~~5 above)~~ Monthly Remittance Statement to the Certificateholders dated as of ~~April~~September 2627, 2004.. ~~SIGNATURE~~Signatures 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 aTrustee ~~duly~~under ~~authorized agent of~~ the ~~Registrant~~Indenture ~~pursuant~~Agreement toon ~~the~~behalf ~~Indenture,~~of ~~dated~~Impac asAssets ofCorporation ~~January 29,2004~~Inc., Registrant Date: ~~Apr~~Sep 2627, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of ~~April~~September 2627, 2004.

	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	April 26, 2004 Distribution
	September 27, 2004 Distribution
	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				12
			8.	Prepayment Report				13
			9.	Prepayment Detail Report				16
			10.	Realized Loss Report				1819
			11.	Realized Loss Detail Report				2122
			12.	Triggers, Adj. Rate Cert. and Miscellaneous Report				2223
			13.	Other Related Information				2324
				Total Number of Pages				2324
			CONTACTS
				Administrator: Alan Sueda
				Direct Phone Number: (714)247-6315
				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 Mortgage Holdings Inc.					Cut-Off Date: January 1, 2004
	Certificate Insurer(s):							Closing Date: January 29, 2004
								First Payment Date: February 25, 2004
	Servicer(s):		Impac Funding Corp. Master Servicer
			Countrywide Home Loans Serv Sub-Servicer
			Wells Fargo Sub-Servicer
								Distribution Date: April 26, 2004
								Distribution Date: September 27, 2004
	Underwriter(s):		Countrywide Securities Lead Underwriter					Record Date: ~~April~~September 2324, 2004
			Merrill Lynch & Co. Co-Lead Underwriter					~~March~~August 31, 2004
						Page 1 of 23					© COPYRIGHT 2004 Deutsche Bank
						Page 1 of 24					© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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)
A-1	STEP, FLT,	869,000,000.00			~~856~~756,~~034~~682,~~035~~922.3658	1,~~080~~349,~~505~~102.1859	1223,~~088~~928,~~915~~161.7955	1325,~~169~~277,~~420~~264.9714	-	-	~~843~~732,~~945~~754,~~119~~761.5703
A-2	STEP, FLT,	21,000,000.00			2018,~~686~~285,~~668~~778.2933	2834,~~317~~613.7545	~~292~~578,~~137~~240.2196	~~320~~612,~~454~~854.9641	-	-	2017,~~394~~707,~~531~~537.0837
M-1	MEZ, STEP,	48,500,000.00			4742,~~776~~231,~~352~~440.9544	6983,~~647~~811.3181	~~674~~1,~~697~~335,461.8326	~~744~~1,~~345~~419,273.1407	-	-	4740,~~101~~895,~~655~~979.1218
M-2	MEZ, STEP,	23,500,000.00			2320,~~149~~462,~~366~~656.9072	3743,~~244~~798.7661	~~326~~647,~~915~~079.4417	~~364~~690,~~160~~877.2078	-	-	2219,~~822~~815,~~451~~577.4655
M-3	MEZ, STEP,	21,500,000.00			2118,~~179~~721,~~208~~154.01	3944,~~346~~876.2617	~~299~~592,~~092~~008.8560	~~338~~636,~~439~~884.1177	-	-	2018,~~880~~129,~~115~~145.1641
M-4	MEZ, STEP,	16,500,000.00			1614,~~253~~367,~~810~~397.7925	3337,~~085~~073.5387	~~229~~454,~~536~~332.3818	~~262~~491,~~621~~406.9105	-	-	1613,~~024~~913,~~274~~065.4107
Cert	R	-			-	~~3,001,192.07~~-	-	~~3,001,192.07~~-	-	-	-
Total		1,000,000,000.00			~~985~~870,~~079~~751,~~442~~349.3033	41,~~289~~593,~~338~~276.8650	1327,~~911~~535,~~295~~283.5072	1829,~~200~~128,~~634~~560.3622	-	-	~~971~~843,~~168~~216,~~146~~065.8061
	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)
A-1	0308/25/04	0409/2526/04		A-Act/360	45254NGP6	869,000,000.00	~~985~~870.~~079442~~751349	1.~~243389~~552477	1327.~~911296~~535284	1529.~~154685~~087761	~~971~~843.~~168147~~216066
A-2	0308/25/04	0409/2526/04		A-Act/360	45254NGQ4	21,000,000.00	~~985~~870.~~079442~~751349	1.~~348464~~648260	1327.~~911296~~535284	1529.~~259760~~183543	~~971~~843.~~168147~~216065
M-1	0308/25/04	0409/2526/04		A-Act/360	45254NGR2	48,500,000.00	~~985~~870.~~079442~~751349	1.~~436027~~728079	1327.~~911295~~535284	1529.~~347323~~263362	~~971~~843.~~168147~~216066
M-2	0308/25/04	0409/2526/04		A-Act/360	45254NGS0	23,500,000.00	~~985~~870.~~079443~~751350	1.~~584883~~863771	1327.~~911296~~535284	1529.~~496179~~399054	~~971~~843.~~168147~~216066
M-3	0308/25/04	0409/2526/04		A-Act/360	45254NGT8	21,500,000.00	~~985~~870.~~079442~~751349	12.~~830059~~087264	1327.~~911296~~535284	1529.~~741354~~622547	~~971~~843.~~168147~~216066
M-4	0308/25/04	0409/2526/04		A-Act/360	45254NGU5	16,500,000.00	~~985~~870.~~079442~~751348	2.~~005184~~246901	1327.~~911295~~535284	1529.~~916479~~782185	~~971~~843.~~168146~~216065
Cert	0308/25/04	0409/2526/04		-		-	-	-	-	-	-
							Page 2 of 23				© COPYRIGHT 2004 Deutsche Bank
							Page 2 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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)
A-1	869,000,000.00		38,~~003~~625,~~088~~444.7890		23132,~~858~~986,~~087~~342.1082	13,~~196~~258,~~793~~896.3315	25136,~~054~~245,~~880~~238.4397	28144,~~057~~870,~~969~~683.2187	-	-	~~843~~732,~~945~~754,~~119~~761.5703
A-2	21,000,000.00		78224,~~691~~493.2846		~~576~~3,~~547~~213,709.5609	2878,~~921~~753.3653	~~605~~3,~~468~~292,462.9262	~~684~~3,~~160~~516,956.2008	-	-	2017,~~394~~707,~~531~~537.0837
M-1	48,500,000.00		~~193~~549,~~517~~369.0358		17,~~331~~422,~~550~~137.3266	66181,~~794~~883.5616	17,~~398~~604,~~344~~020.8882	18,~~591~~153,~~861~~390.9140	-	-	4740,~~101~~895,~~655~~979.1218
M-2	23,500,000.00		~~103~~291,~~467~~639.3624		~~645~~3,~~184~~596,293.1751	3288,~~364~~128.3895	~~677~~3,~~548~~684,422.5546	~~781~~3,~~015~~976,061.9170	-	-	2219,~~822~~815,~~451~~577.4655
M-3	21,500,000.00		~~109~~305,~~280~~168.4685		~~590~~3,~~274~~290,225.8897	2980,~~609~~628.9662	~~619~~3,~~884~~370,854.8459	~~729~~3,~~165~~676,023.3044	-	-	2018,~~880~~129,~~115~~145.1641
M-4	16,500,000.00		91255,~~880~~221.0578		~~453~~2,~~001~~525,057.6514	2261,~~723~~877.9277	~~475~~2,~~725~~586,934.5892	~~567~~2,~~605~~842,156.6370	-	-	1613,~~024~~913,~~274~~065.4107
Cert	-		915,~~485~~664,~~260~~445.7388		-	-	-	915,~~485~~664,~~260~~445.7388	-	-	-
Total	1,000,000,000.00		1325,~~065~~915,~~185~~783.69		27153,~~454~~033,~~645~~766.6919	13,~~377~~750,~~207~~168.5118	28156,~~831~~783,~~853~~934.2037	41182,~~897~~699,~~038~~718.8906	-	-	~~971~~843,~~168~~216,~~146~~065.8061
	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)
A-1	1.~~42000~~94500%	~~856~~756,~~034~~682,~~035~~922.3658			1,~~080~~349,~~505~~102.1859	-	-	-	1,~~080~~349,~~505~~102.1859	1,~~080~~349,~~505~~102.1859	-
A-2	12.~~54000~~06500%	2018,~~686~~285,~~668~~778.2933			2834,~~317~~613.7545	-	-	-	2834,~~317~~613.7545	2834,~~317~~613.7545	-
M-1	12.~~64000~~16500%	4742,~~776~~231,~~352~~440.9544			6983,~~647~~811.3181	-	-	-	6983,~~647~~811.3181	6983,~~647~~811.3181	-
M-2	12.~~81000~~33500%	2320,~~149~~462,~~366~~656.9072			3743,~~244~~798.7661	-	-	-	3743,~~244~~798.7661	3743,~~244~~798.7661	-
M-3	2.~~09000~~61500%	2118,~~179~~721,~~208~~154.01			3944,~~346~~876.2617	-	-	-	3944,~~346~~876.2617	3944,~~346~~876.2617	-
M-4	2.~~29000~~81500%	1614,~~253~~367,~~810~~397.7925			3337,~~085~~073.5387	-	-	-	3337,~~085~~073.5387	3337,~~085~~073.5387	-
Cert		-			-	-	-	-	~~3,001,192.07~~-	~~3,001,192.07~~-	-
Total		~~985~~870,~~079~~751,~~442~~349.3033			1,~~288~~593,~~146~~276.7950	-	-	-	41,~~289~~593,~~338~~276.8650	41,~~289~~593,~~338~~276.8650	-
							Page 3 of 23				© COPYRIGHT 2004 Deutsche Bank
							Page 3 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
SUMMARY								TOTAL
	Principal Collections							1326,~~911~~057,~~295~~547.5016
	Principal Withdrawals							0.00
	Principal Other Accounts							0.00
	TOTAL PRINCIPAL							1326,~~911~~057,~~295~~547.5016
	Interest Collections							43,~~633~~851,~~871~~195.3004
	Interest Withdrawals							0.00
	Interest Other Accounts - Cap Contract Amt (Paid) / Received							(32665,~~483~~430.9911)
	Interest Fees							(~~312~~114,~~048~~751.4587)
	Interest Earnings							0.00
	TOTAL INTEREST							43,~~289~~071,~~338~~013.8606
	TOTAL AVAILABLE FUNDS TO BONDHOLDERS							1829,~~200~~128,~~634~~560.3622
PRINCIPAL - COLLECTIONS								TOTAL
	Scheduled Principal							~~492~~440,~~244~~893.2580
	Curtailments							~~267~~159,~~157~~365.1743
	Prepayments in Full							1225,~~972~~457,~~120~~287.8593
	Repurchases/Substitutions							~~179,773~~0.2300
	Liquidations							0.00
	Insurance Principal							0.00
	Other Additional Principal							0.00
	Delinquent Principal							(~~135~~354,~~548~~569.3453)
	Realized Losses							0.00
	Substitution Adjustments- Principal							0.00
	Termination Price Amounts- Principal							0.00
	Additional Principal Amts							0.00
	Principal Advanced							~~135~~354,~~548~~569.3453
	TOTAL PRINCIPAL							1326,~~911~~057,~~295~~547.5016
				Page 4 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 4 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS								TOTAL
	Scheduled Interest							4,~~708~~079,~~576~~271.1317
	Repurchases/Substitutions							~~917~~0.5900
	Liquidations							0.00
	Insurance Interest							0.00
	Other Additional Interest							0.00
	Prepayment Interest Shortfalls							(3163,~~698~~035.2130)
	Relief Act Interest Shortfalls							0.00
	Delinquent Interest							(13,~~113~~160,~~929~~054.0904)
	Interest Realized Losses							0.00
	Compensating Interest							3163,~~698~~035.2130
	Substitution Adjustments- Interest							0.00
	Termination Price Amounts- Interest							0.00
	Additional Interest Amts							0.00
	Interest Prepayment Premiums							0.00
	Interest Advanced							12,~~038~~931,~~306~~977.6791
	TOTAL INTEREST							43,~~633~~851,~~871~~195.3004
				Page 5 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 5 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS								TOTAL
	Prev. Unreimbursed PMI Premiums							0.00
	Prev. Unreimbursed Spec Haz Premiums							0.00
	Prev. Unreimbursed Liq. Expenses							0.00
	Prev. Unreimbursed Master/Sub-Servicing Fees							0.00
	Amt Rvcd Not Due Bondholder /Deposits in Error							0.00
	Prev. Unreimb. P&I Advances/Non Recov Advances							0.00
	Prev. Unreimbursed Servicing Advances							0.00
	Clear and Terminate Collection Account							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - FEES								TOTAL
	Owner Trustee Fee							1,~~395~~236.5310
	Indenture Trustee Fee							21,~~134~~890.3450
	Radian PMI Insurance Premiums							5044,~~353~~008.0383
	Current Servicing Fees							~~258~~67,~~165~~616.5544
	TOTAL INTEREST FEES							~~312~~114,~~048~~751.4587
				Page 6 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 6 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Credit Enhancement Report for April 26, 2004 Distribution
	Credit Enhancement Report for September 27, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES								TOTAL
	Current Period Required Overcollateralization Amt							05,000,000.0074
	Current Period Overcollateralization Amt							03,264,217.0074
	Current Period Net Monthly Excess Cashflow							31,~~001~~477,~~192~~736.0756
	Current Period Overcollateralization Release							0.00
	Available Funds Rate							43.~~8986~~8475%
				Page 7 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 7 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
COLLATERAL								TOTAL
	Loan Count:
	Original							3940
	Prior							3,~~886~~493
	Prefunding							-
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(4999)
	Repurchases							~~(1)~~-
	Liquidations							-
	Current							3,~~836~~394
	Principal Balance:
	Original							1,000,000,049.26
	Prior							~~985~~872,~~079~~537,~~442~~830.3051
	Prefunding							-
	Scheduled Principal							(~~492~~440,~~244~~893.2580)
	Partial and Full Voluntary Prepayments							(1325,~~239~~616,~~278~~653.0236)
	Repurchases							~~(179,773.23)~~-
	Liquidations							-
	Current							~~971~~846,~~168~~480,~~146~~283.8035
PREFUNDING								TOTAL
SPACE INTENTIONALLY LEFT BLANK
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 8 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
CHARACTERISTICS								TOTAL
	Weighted Average Coupon Original							5.749443%
	Weighted Average Coupon Prior							5.~~744952~~609998%
	Weighted Average Coupon Current							5.~~736992~~610216%
	Weighted Average Months to Maturity Original							358
	Weighted Average Months to Maturity Prior							~~357~~352
	Weighted Average Months to Maturity Current							~~356~~351
	Weighted Avg Remaining Amortization Term Original							358
	Weighted Avg Remaining Amortization Term Prior							~~357~~352
	Weighted Avg Remaining Amortization Term Current							~~356~~351
	Weighted Average Seasoning Original							2.15
	Weighted Average Seasoning Prior							38.1209
	Weighted Average Seasoning Current							49.1209
Note: Original information refers to deal issue.
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 9 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS								TOTAL
	Weighted Average Margin Original							3.472%
	Weighted Average Margin Prior							3.~~472~~475%
	Weighted Average Margin Current							3.~~474~~475%
	Weighted Average Max Rate Original							11.709%
	Weighted Average Max Rate Prior							11.~~707~~686%
	Weighted Average Max Rate Current							11.~~701~~678%
	Weighted Average Min Rate Original							3.646%
	Weighted Average Min Rate Prior							3.~~646~~639%
	Weighted Average Min Rate Current							3.~~647~~641%
	Weighted Average Cap Up Original							1.066%
	Weighted Average Cap Up Prior							1.~~066~~063%
	Weighted Average Cap Up Current							1.~~066~~064%
	Weighted Average Cap Down Original							1.066%
	Weighted Average Cap Down Prior							1.~~066~~063%
	Weighted Average Cap Down Current							1.~~066~~064%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES								TOTAL
	Current Servicing Fees							~~258~~67,~~165~~616.5544
	Delinquent Servicing Fees							75228,~~622~~076.4212
	TOTAL SERVICING FEES							~~333~~295,~~787~~692.9756
	Total Servicing Fees							~~333~~295,~~787~~692.9756
	Compensating Interest							3163,~~698~~035.2130
	Delinquent Servicing Fees							(75228,~~622~~076.4212)
	COLLECTED SERVICING FEES							~~289~~130,~~863~~651.7674
	Current PPIS							3163,~~698~~035.2130
	Current Net PPIS							0.00
	Total Advanced Principal For Current Payment Date							~~135~~354,~~548~~569.3453
	Total Advanced Interest For Current Payment Date							12,~~038~~931,~~306~~977.6791
	TOTAL ADVANCES FOR CURRENT PERIOD							13,~~173~~286,~~855~~547.0144
ADDITIONAL COLLATERAL INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK
				Page 10 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 10 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Delinquency Report for April 26, 2004 Distribution
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,~~497~~588,~~652~~481.1881	~~720~~2,~~575~~088,834.4118	-468,117.45	68,~~218~~145,~~227~~433.5944
		% Balance			0.5766%	0.0725%	0.0006%	0.6496%
		# Loans			1924	38	-2	2234
		% # Loans			0.5071%	0.0824%	0.0006%	01.5700%
FORECLOSURE		Balance		-98,900.42	-	-	-3,782,471.83	-3,881,372.25
		% Balance		0.0001%	0.00%	0.00%	0.0045%	0.0046%
		# Loans		-1	-	-	-14	-15
		% # Loans		0.0003%	0.00%	0.00%	0.0041%	0.0044%
BANKRUPTCY		Balance		~~193~~238,~~900~~199.0030	~~396,943.42~~-	-	-131,000.00	~~590~~369,~~843~~199.4230
		% Balance		0.0203%	0.0400%	0.00%	0.0002%	0.0604%
		# Loans		12	1-	-	-1	23
		% # Loans		0.0306%	0.0300%	0.00%	0.0003%	0.0509%
REO		Balance		-	-	-	-76,127.60	-76,127.60
		% Balance		0.00%	0.00%	0.00%	0.0001%	0.0001%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0003%	0.0003%
TOTAL		Balance		~~193~~337,~~900~~099.0072	5,~~894~~588,~~595~~481.6081	~~720~~2,~~575~~088,834.4118	-4,457,716.88	612,~~809~~472,~~071~~132.0159
		% Balance		0.0204%	0.6166%	0.0725%	0.0053%	01.7047%
		# Loans		13	2024	38	-18	2453
		% # Loans		0.0309%	0.5271%	0.0824%	0.0053%	01.6356%
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 23				© COPYRIGHT 2004 Deutsche Bank
				Page 11 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	REO Report for April 26, 2004 Distribution
	REO Report for September 27, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Adjustable; REO Book Value = 000.00
Total Loan Count = 1				Loan Group 1 = Adjustable; REO Book Value = Not Available
Total Original Principal Balance = 000.00
Total Original Principal Balance = 76,500.00
Total Current Balance = 000.00
Total Current Balance = 76,127.60
REO Book Value = 000.00
REO Book Value = Not Available
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
2503042877 1		76,500.00	76,127.60	Mar-01-04	8.625%	MI - 75.00%	360	Dec-30-03
				Page 12 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 12 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS								TOTAL
	Current
	Number of Paid in Full Loans							4999
	Number of Repurchased Loans							1-
	Total Number of Loans Prepaid in Full							5099
	Paid in Full Balance							1225,~~972~~457,~~120~~287.8593
	Repurchased Loans Balance							~~179,773.23~~-
	Curtailments Amount							~~267~~159,~~157~~365.1743
	Total Prepayment Amount							1325,~~419~~616,~~051~~653.2536
	Cumulative
	Number of Paid in Full Loans							~~103~~542
	Number of Repurchased Loans							14
	Total Number of Loans Prepaid in Full							~~104~~546
	Paid in Full Balance							26147,~~868~~820,~~284~~150.3760
	Repurchased Loans Balance							~~179~~1,~~773~~090,218.2388
	Curtailments Amount							~~406~~859,~~637~~228.3525
	Total Prepayment Amount							27149,~~454~~769,~~694~~597.9573
	Current Prin Balance of Repurchases Per Sec 3.18							0.00
	Cumulative Prin Balance of Repurchases Per Sec 3.18							0.00
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 13 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 13 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES								TOTAL
	SMM							12.3694%
	3 Months Avg SMM							02.9286%
	12 Months Avg SMM
	Avg SMM Since Cut-off							02.9201%
	CPR							1530.1808%
	3 Months Avg CPR							1029.5543%
	12 Months Avg CPR
	Avg CPR Since Cut-off							1021.5566%
	PSA							~~1844~~1654.7421%
	3 Months Avg PSA Approximation							~~1685~~1818.5647%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							~~1685~~1930.5688%
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 14 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 14 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
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 PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*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 15 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 15 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Prepayment Detail Report for April 26, 2004 Distribution
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 50						Loan Group 1 = Adjustable
Total Loan Count = 99						Loan Group 1 = Adjustable
Total Original Principal Balance = 13,180,693.00
Total Original Principal Balance = 25,585,679.00
Total Prepayment Amount = 13,151,894.08
Total Prepayment Amount = 25,457,287.93
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
1103040569 1			96,300.00	95,489.56	Mar-17-04	7.000%	MI - 90.00%	Paid Off - 360	Dec-31-03
1103065318 1			313,450.00	309,570.67	Aug-20-04	5.000%	NY - 94.99%	Paid Off - 360	Dec-16-03
1103074504 1			111,595.00	111,215.59	Mar-31-04	8.000%	CA - 55.00%	Paid Off - 360	Dec-24-03
1103073656 1			214,200.00	212,696.48	Aug-31-04	7.375%	CA - 85.00%	Paid Off - 360	Jan-05-04
1103075588 1			500,000.00	497,302.18	Mar-12-04	5.625%	CA - 87.26%	Paid Off - 360	Dec-31-03
1103080875 1			171,000.00	169,672.75	Aug-02-04	6.250%	CA - 95.00%	Paid Off - 360	Dec-30-03
1103079903 1			399,950.00	399,950.00	Mar-16-04	4.250%	CA - 80.00%	Paid Off - 360	Dec-17-03
1103083069 1			572,000.00	572,000.00	Aug-09-04	5.250%	CA - 79.89%	Paid Off - 360	Dec-22-03
1103081832 1			164,000.00	163,496.21	Mar-01-04	7.375%	IL - 100.00%	Paid Off - 360	Jan-07-04
1103084489 1			214,300.00	212,181.26	Aug-16-04	5.750%	CA - 80.00%	Paid Off - 360	Dec-31-03
1103085822 1			187,500.00	186,534.79	Mar-26-04	5.875%	IL - 75.00%	Paid Off - 360	Dec-31-03
1103087140 1			185,250.00	185,250.00	Aug-27-04	6.750%	CA - 95.00%	Paid Off - 360	Nov-20-03
1103087835 1			200,000.00	198,895.36	Mar-03-04	5.500%	CA - 80.00%	Paid Off - 360	Dec-30-03
1103087213 1			228,000.00	228,000.00	Aug-16-04	5.625%	CA - 80.00%	Paid Off - 360	Jan-12-04
1103093082 1			292,500.00	292,500.00	Mar-29-04	6.000%	CA - 90.00%	Paid Off - 360	Dec-30-03
1103088292 1			400,000.00	399,626.64	Aug-24-04	7.125%	CA - 87.92%	Paid Off - 360	Dec-17-03
1103093306 1			419,650.00	419,650.00	Mar-01-04	3.750%	FL - 70.00%	Paid Off - 360	Dec-22-03
1103089411 1			194,000.00	192,462.42	Aug-27-04	6.750%	CA - 69.95%	Paid Off - 360	Dec-23-03
1103093752 1			251,250.00	251,250.00	Mar-01-04	4.125%	CA - 75.00%	Paid Off - 360	Dec-23-03
1103090947 1			88,000.00	88,000.00	Aug-31-04	6.375%	FL - 80.00%	Paid Off - 360	Nov-24-03
1103094979 1			135,000.00	135,000.00	Mar-12-04	4.750%	CA - 48.22%	Paid Off - 360	Dec-16-03
1103091754 1			167,000.00	165,324.38	Aug-31-04	5.500%	CA - 64.24%	Paid Off - 360	Dec-16-03
1103095995 1			84,000.00	83,834.03	Mar-11-04	8.125%	FL - 80.00%	Paid Off - 360	Dec-15-03
1103093357 1			304,800.00	301,741.77	Aug-13-04	5.500%	CA - 80.00%	Paid Off - 360	Dec-23-03
1103098083 1			243,900.00	243,900.00	Mar-22-04	5.750%	CA - 90.00%	Paid Off - 360	Jan-05-04
1103093882 1			315,000.00	312,007.26	Aug-25-04	4.500%	CA - 79.75%	Paid Off - 360	Dec-31-03
1103098294 1			87,500.00	87,173.23	Mar-23-04	6.375%	FL - 51.17%	Paid Off - 360	Dec-17-03
1103093971 1			315,200.00	312,180.81	Aug-05-04	5.750%	CA - 80.00%	Paid Off - 360	Dec-22-03
1103098439 1			289,850.00	289,850.00	Mar-16-04	7.000%	NV - 85.00%	Paid Off - 360	Dec-16-03
1103094243 1			162,369.00	161,434.96	Aug-17-04	8.375%	NC - 95.00%	Paid Off - 360	Dec-19-03
1103099140 1			351,500.00	350,541.55	Mar-09-04	6.500%	CA - 95.00%	Paid Off - 360	Jan-12-04
1103094561 1			248,000.00	240,205.24	Aug-04-04	4.625%	CA - 80.00%	Paid Off - 360	Jan-07-04
1103099468 1			457,600.00	456,382.11	Mar-01-04	6.625%	MN - 80.00%	Paid Off - 360	Jan-07-04
1103094844 1			248,000.00	246,127.86	Aug-25-04	6.375%	CA - 80.00%	Paid Off - 360	Jan-06-04
1103100329 1			265,500.00	265,500.00	Mar-11-04	8.125%	CA - 90.00%	Paid Off - 360	Jan-09-04
1103095036 1			215,550.00	213,625.53	Aug-13-04	6.125%	CA - 79.99%	Paid Off - 360	Jan-06-04
1103102140 1			400,000.00	400,000.00	Mar-16-04	8.000%	CA - 93.90%	Paid Off - 360	Dec-31-03
1103095444 1			112,550.00	112,549.05	Aug-12-04	6.250%	AZ - 79.83%	Paid Off - 360	Nov-20-03
1103103223 1			600,000.00	598,199.12	Mar-24-04	6.000%	CA - 80.00%	Paid Off - 360	Jan-07-04
1103096890 1			90,000.00	89,492.99	Aug-17-04	7.875%	TN - 90.00%	Paid Off - 360	Jan-13-04
1103103773 1			318,000.00	316,848.65	Mar-25-04	5.000%	CA - 64.90%	Paid Off - 360	Dec-24-03
1103097145 1			200,650.00	198,772.39	Aug-02-04	5.875%	CA - 89.98%	Paid Off - 360	Jan-07-04
1103105750 1			215,000.00	215,000.00	Mar-23-04	5.875%	CA - 69.81%	Paid Off - 360	Jan-16-04
1103097666 1			366,660.00	364,158.24	Aug-04-04	6.875%	CA - 90.00%	Paid Off - 360	Dec-16-03
1103106221 1			99,750.00	99,576.58	Mar-09-04	8.750%	NJ - 95.00%	Paid Off - 360	Dec-22-03
1103098112 1			183,200.00	181,712.77	Aug-19-04	6.625%	TX - 80.00%	Paid Off - 360	Jan-09-04
1103106396 1			292,000.00	292,000.00	Mar-19-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-07-04
1103098170 1			255,250.00	255,250.00	Aug-09-04	6.750%	CA - 94.89%	Paid Off - 360	Dec-31-03
1103106519 1			280,000.00	280,000.00	Mar-02-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-15-04
1103098308 1			280,000.00	277,206.28	Aug-30-04	4.875%	CA - 80.00%	Paid Off - 360	Dec-18-03
1103106779 1			232,750.00	232,174.32	Mar-03-04	7.000%	CA - 95.00%	Paid Off - 360	Jan-12-04
1103098859 1			100,800.00	100,057.05	Aug-18-04	7.125%	MI - 80.00%	Paid Off - 360	Dec-22-03
1103107636 1			463,500.00	463,500.00	Mar-29-04	5.375%	CA - 90.00%	Paid Off - 360	Jan-12-04
1103099049 1			144,000.00	142,588.17	Aug-25-04	5.625%	CA - 80.00%	Paid Off - 360	Dec-31-03
1103107804 1			156,038.00	155,406.63	Mar-26-04	7.125%	NC - 94.57%	Paid Off - 360	Dec-18-03
1103099071 1			423,000.00	423,000.00	Aug-24-04	6.750%	CA - 90.00%	Paid Off - 360	Jan-02-04
1103107853 1			66,500.00	66,257.56	Mar-19-04	6.500%	AZ - 95.00%	Paid Off - 360	Dec-18-03
1103099165 1			375,900.00	375,896.63	Aug-11-04	4.250%	CA - 80.00%	Paid Off - 360	Dec-24-03
1103108293 1			163,100.00	162,743.60	Mar-18-04	7.625%	NJ - 75.51%	Paid Off - 360	Jan-13-04
1103099284 1			297,600.00	297,600.00	Aug-04-04	4.125%	CA - 80.00%	Paid Off - 360	Dec-19-03
1103109599 1			241,600.00	241,600.00	Mar-25-04	5.750%	NV - 80.00%	Paid Off - 360	Jan-12-04
1103099566 1			280,000.00	278,099.82	Aug-18-04	7.000%	CA - 80.00%	Paid Off - 360	Dec-24-03
1103110386 1			82,400.00	82,140.68	Mar-29-04	5.750%	AZ - 80.00%	Paid Off - 360	Jan-15-04
1103099689 1			185,250.00	185,249.92	Aug-31-04	5.500%	NV - 93.57%	Paid Off - 360	Jan-07-04
1103111456 1			328,000.00	327,246.66	Mar-25-04	7.375%	CA - 79.04%	Paid Off - 360	Dec-15-03
1103100473 1			197,500.00	195,482.85	Aug-17-04	4.375%	CA - 79.99%	Paid Off - 360	Jan-09-04
1103112047 1			394,400.00	393,493.24	Mar-24-04	5.250%	CA - 80.00%	Paid Off - 360	Dec-31-03
1103100681 1			217,600.00	217,600.00	Aug-19-04	5.250%	CA - 80.00%	Paid Off - 360	Dec-18-03
1103114153 1			132,810.00	132,289.69	Mar-31-04	6.125%	NV - 78.59%	Paid Off - 360	Dec-19-03
1103102223 1			273,000.00	272,375.69	Aug-23-04	4.875%	CA - 70.00%	Paid Off - 360	Jan-07-04
1103114175 1			289,750.00	289,050.73	Mar-11-04	7.125%	MA - 95.00%	Paid Off - 360	Jan-13-04
1103102359 1			165,200.00	163,775.76	Aug-20-04	6.875%	NV - 94.99%	Paid Off - 360	Nov-19-03
1103114202 1			448,000.00	446,589.34	Mar-02-04	7.250%	IL - 80.00%	Paid Off - 360	Dec-19-03
1103102925 1			256,000.00	256,000.00	Aug-19-04	5.625%	CA - 79.76%	Paid Off - 360	Jan-12-04
1103114232 1			50,400.00	50,289.86	Mar-17-04	7.625%	MD - 80.00%	Paid Off - 360	Dec-19-03
1103103158 1			200,000.00	198,650.72	Aug-19-04	6.250%	CA - 78.75%	Paid Off - 360	Jan-07-04
1103115533 1			584,000.00	584,000.00	Mar-30-04	5.375%	CA - 80.00%	Paid Off - 360	Dec-05-03
1103103284 1			136,000.00	135,021.34	Aug-06-04	6.625%	CA - 80.00%	Paid Off - 360	Jan-08-04
1103115981 1			417,300.00	417,300.00	Mar-18-04	5.625%	CA - 65.00%	Paid Off - 360	Dec-16-03
1103103791 1			297,500.00	297,500.00	Aug-06-04	4.750%	CA - 70.00%	Paid Off - 360	Dec-23-03
1103115988 1			350,000.00	349,500.00	Mar-17-04	5.000%	CA - 50.35%	Paid Off - 360	Dec-16-03
1103103919 1			384,000.00	384,000.00	Aug-30-04	6.250%	HI - 80.00%	Paid Off - 360	Jan-15-04
1103116412 1			146,000.00	145,711.52	Mar-17-04	8.125%	FL - 80.00%	Paid Off - 360	Dec-17-03
1103104000 1			382,050.00	382,050.00	Aug-23-04	6.375%	CA - 77.19%	Paid Off - 360	Dec-31-03
1103117027 1			420,000.00	418,709.07	Mar-11-04	5.875%	VA - 80.00%	Paid Off - 360	Dec-15-03
1103104100 1			194,000.00	194,000.00	Aug-13-04	6.250%	NV - 80.00%	Paid Off - 360	Dec-22-03
1103119277 1			152,900.00	152,900.00	Mar-26-04	7.375%	AZ - 90.00%	Paid Off - 360	Jan-09-04
1103104356 1			237,500.00	237,500.00	Aug-18-04	5.750%	AZ - 95.00%	Paid Off - 360	Dec-17-03
					Page 16 of 23				© COPYRIGHT 2004 Deutsche Bank
					Page 16 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Prepayment Detail Report for April 26, 2004 Distribution
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
1103121318 1			285,000.00	283,968.39	Mar-31-04	5.000%	PA - 66.27%	Paid Off - 360	Jan-15-04
1103104630 1			160,000.00	158,813.69	Aug-23-04	5.750%	CA - 74.42%	Paid Off - 360	Jan-15-04
1103123047 1			375,850.00	374,873.73	Mar-16-04	6.750%	PA - 79.99%	Paid Off - 360	Jan-15-04
1103105091 1			332,500.00	332,500.00	Aug-30-04	6.500%	CA - 95.00%	Paid Off - 360	Dec-24-03
2503040684 1			218,000.00	218,000.00	Mar-12-04	5.500%	FL - 79.28%	Paid Off - 360	Dec-16-03
1103105272 1			109,420.00	108,687.64	Aug-02-04	7.000%	IL - 80.00%	Paid Off - 360	Jan-12-04
2503044753 1			156,100.00	156,100.00	Mar-17-04	4.875%	NV - 70.00%	Paid Off - 360	Jan-06-04
1103105417 1			360,000.00	357,150.21	Aug-11-04	6.125%	CA - 90.00%	Paid Off - 360	Dec-24-03
3900006624 1			104,000.00	98,186.87	Mar-23-04	7.750%	MD - 80.00%	Paid Off - 360	Jan-23-98
1103106082 1			199,900.00	199,536.63	Aug-17-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103112493 1			179,950.00	179,773.23	Apr-01-04	6.125%	CA - 90.00%	Repur/Subs - 360	Jan-09-04
1103106141 1			491,200.00	486,408.96	Aug-26-04	5.000%	CA - 80.00%	Paid Off - 360	Jan-09-04
					Page 17 of 23				© COPYRIGHT 2004 Deutsche Bank
1103106676 1			304,000.00	301,961.36	Aug-06-04	6.990%	MN - 80.00%	Paid Off - 360	Jan-05-04
1103106698 1			156,800.00	156,800.00	Aug-17-04	4.375%	NV - 80.00%	Paid Off - 360	Jan-13-04
1103106870 1			185,000.00	185,000.00	Aug-12-04	6.250%	CA - 48.31%	Paid Off - 360	Dec-31-03
1103107105 1			217,000.00	216,801.56	Aug-09-04	4.625%	CA - 70.00%	Paid Off - 360	Jan-09-04
1103107159 1			156,000.00	154,610.63	Aug-12-04	5.500%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103107160 1			216,000.00	214,592.92	Aug-20-04	7.375%	MA - 90.00%	Paid Off - 360	Jan-09-04
1103107803 1			118,750.00	117,612.47	Aug-05-04	5.750%	MN - 94.25%	Paid Off - 360	Dec-18-03
1103107936 1			584,000.00	584,000.00	Aug-19-04	6.000%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103108326 1			360,000.00	356,807.68	Aug-12-04	4.875%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103108558 1			226,000.00	224,029.10	Aug-26-04	4.875%	CA - 79.30%	Paid Off - 360	Jan-02-04
1103108958 1			176,000.00	174,433.91	Aug-27-04	5.500%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103108985 1			230,880.00	230,880.00	Aug-23-04	5.375%	FL - 68.30%	Paid Off - 360	Dec-04-03
1103109328 1			334,600.00	334,600.00	Aug-03-04	5.125%	CA - 70.00%	Paid Off - 360	Jan-16-04
1103109334 1			188,400.00	188,379.90	Aug-20-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-09-04
1103109348 1			132,000.00	130,976.20	Aug-03-04	5.500%	NV - 80.00%	Paid Off - 360	Jan-06-04
1103109584 1			225,000.00	225,000.00	Aug-02-04	6.000%	CA - 90.00%	Paid Off - 360	Dec-31-03
1103111216 1			216,000.00	216,000.00	Aug-10-04	5.750%	CA - 80.00%	Paid Off - 360	Jan-05-04
1103112436 1			156,000.00	154,896.45	Aug-05-04	6.000%	MD - 80.00%	Paid Off - 360	Dec-31-03
1103112660 1			382,500.00	379,812.92	Aug-11-04	6.750%	VA - 90.00%	Paid Off - 360	Jan-09-04
1103113863 1			170,100.00	169,084.15	Aug-03-04	7.750%	FL - 90.00%	Paid Off - 360	Jan-14-04
1103114087 1			509,650.00	504,880.89	Aug-31-04	5.875%	VA - 79.02%	Paid Off - 360	Dec-19-03
1103114192 1			98,150.00	97,294.15	Aug-02-04	6.250%	NV - 79.80%	Paid Off - 360	Dec-19-03
1103114245 1			450,000.00	446,352.81	Aug-09-04	6.000%	WA - 79.65%	Paid Off - 360	Dec-19-03
1103117546 1			417,500.00	413,334.35	Aug-18-04	4.875%	CA - 78.77%	Paid Off - 360	Dec-18-03
1103117547 1			267,300.00	265,233.65	Aug-19-04	6.250%	CA - 90.00%	Paid Off - 360	Dec-18-03
1103117551 1			316,400.00	313,954.05	Aug-11-04	6.250%	CA - 80.00%	Paid Off - 360	Dec-18-03
1103117594 1			254,400.00	252,696.96	Aug-03-04	6.999%	CA - 80.00%	Paid Off - 360	Dec-18-03
1103118330 1			128,100.00	126,617.65	Aug-20-04	4.625%	MD - 70.00%	Paid Off - 360	Jan-09-04
1103119286 1			267,200.00	265,439.79	Aug-19-04	6.375%	FL - 94.99%	Paid Off - 360	Dec-31-03
1103122984 1			384,000.00	380,887.80	Aug-19-04	6.000%	WA - 74.00%	Paid Off - 360	Jan-16-04
1103123060 1			524,000.00	520,051.31	Aug-03-04	6.500%	CO - 80.00%	Paid Off - 360	Jan-16-04
1103123929 1			337,250.00	334,876.30	Aug-27-04	6.740%	CA - 95.00%	Paid Off - 360	Dec-30-03
1103123944 1			527,250.00	523,549.70	Aug-26-04	6.755%	CA - 95.00%	Paid Off - 360	Dec-30-03
1103124081 1			216,800.00	214,993.92	Aug-05-04	6.490%	NC - 80.00%	Paid Off - 360	Dec-30-03
2503040424 1			331,200.00	328,443.00	Aug-13-04	5.125%	OR - 80.00%	Paid Off - 360	Jan-06-04
2503040611 1			331,200.00	331,200.00	Aug-06-04	4.750%	CA - 80.00%	Paid Off - 360	Dec-17-03
2503041168 1			157,450.00	157,450.00	Aug-04-04	5.250%	MD - 89.98%	Paid Off - 360	Jan-14-04
2503041736 1			280,800.00	280,800.00	Aug-05-04	4.875%	CA - 80.00%	Paid Off - 360	Dec-29-03
2503042185 1			344,550.00	342,112.69	Aug-17-04	6.000%	CA - 89.50%	Paid Off - 360	Dec-23-03
2503042213 1			180,000.00	178,756.44	Aug-16-04	6.125%	NJ - 90.00%	Paid Off - 360	Dec-30-03
2503043156 1			182,500.00	182,483.61	Aug-03-04	4.625%	CA - 78.50%	Paid Off - 360	Dec-23-03
2503043166 1			111,000.00	109,850.74	Aug-02-04	4.375%	IL - 56.93%	Paid Off - 360	Dec-31-03
2503043299 1			150,100.00	149,454.04	Aug-25-04	7.750%	FL - 95.00%	Paid Off - 360	Jan-05-04
2503043388 1			255,000.00	255,000.00	Aug-09-04	4.875%	FL - 72.86%	Paid Off - 360	Dec-19-03
2503043666 1			330,000.00	330,000.00	Aug-16-04	6.875%	CA - 83.55%	Paid Off - 360	Dec-22-03
2503043681 1			166,500.00	166,500.00	Aug-12-04	6.875%	FL - 90.00%	Paid Off - 360	Jan-15-04
					Page 17 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Realized Loss Report for April 26, 2004 Distribution
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
2503043823 1			340,000.00	340,000.00	Aug-30-04	6.250%	CA - 77.28%	Paid Off - 360	Jan-07-04
2503043832 1			176,000.00	176,000.00	Aug-04-04	5.375%	WA - 80.00%	Paid Off - 360	Jan-13-04
2503045642 1			372,000.00	372,000.00	Aug-02-04	5.000%	CA - 80.00%	Paid Off - 360	Jan-08-04
					Page 18 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES								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%
							3 Months Moving Average
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 18 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 19 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Realized Loss Report for April 26, 2004 Distribution
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS								TOTAL
	MDR							0.00%
	3 Months Avg MDR							0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off							0.00%
	CDR							0.00%
	3 Months Avg CDR							0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off							0.00%
	SDA							0.00%
	3 Months Avg SDA Approximation							0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation							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
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 19 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 20 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Realized Loss Report for April 26, 2004 Distribution
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
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 20 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 21 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Realized Loss Detail Report for April 26, 2004 Distribution
	Realized Loss Detail Report for September 27, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Revisions = 0						Loan Group 1 = Adjustable
Total Prior Principal Balance = 0.00
Total Current Realized Loss Amount = 0.00
Total Revisions Amount = 0.00
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			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
					Page 21 of 23				© COPYRIGHT 2004 Deutsche Bank
					Page 22 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Triggers, Adj. Rate Cert. and Miscellaneous Report for April 26, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
	Current Periods LIBOR Rate							1.~~0900~~6150%
ADDITIONAL INFORMATION								TOTAL
	Current Periods Net Mortgage Rate							5.~~2647~~1387%
				Page 22 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 23 of 24				© COPYRIGHT 2004 Deutsche Bank
	Impac CMB Trust 2004-1
	Mortgage Pass-Through Certificates
	Series 2004-1
	Other Related Information for April 26, 2004 Distribution
	Other Related Information for September 27, 2004 Distribution
	Other Related Information
ADDITIONAL INFORMATION								TOTAL
	Net Derivative Contracts Payment Amt - Paid / (Recvd)							32665,~~483~~430.9911
	RISK ID: 643809D / EFFORT ID: N406967 / GLOBAL DEAL ID: 458369							435,~~837~~621.6245
	RISK ID: 643793D / EFFORT ID: N406968 / GLOBAL DEAL ID: 458375							0159,871.0073
	RISK ID: 630047D / EFFORT ID: N397445 / GLOBAL DEAL ID: 446550							094,614.0078
	RISK ID: 643823D / EFFORT ID: N406971 / GLOBAL DEAL ID: 458383							09,628.0029
	RISK ID: 643807D / EFFORT ID: N406972 / GLOBAL DEAL ID: 458385							084,677.0062
	RISK ID: 643925D / EFFORT ID: N407091 / GLOBAL DEAL ID: 458388							043,425.0034
	RISK ID: 643821D / EFFORT ID: N406980 / GLOBAL DEAL ID: 458396							041,637.0050
	RISK ID: 643799D / EFFORT ID: N406981 / GLOBAL DEAL ID: 458399							2780,~~646~~372.3718
	RISK ID: 643789D / EFFORT ID: N406975 / GLOBAL DEAL ID: 458402							062,600.0069
	RISK ID: 643781D / EFFORT ID: N406978 / GLOBAL DEAL ID: 458409							016,945.0093
	RISK ID: 643791D / EFFORT ID: N406979 / GLOBAL DEAL ID: 458416							036,034.0060
				Page 23 of 23				© COPYRIGHT 2004 Deutsche Bank
				Page 24 of 24				© COPYRIGHT 2004 Deutsche Bank

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