

                           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):  July 25, 2005
                          (Date of earliest event reported)

                 Impac CMB Trust Series 2005-4 (as Issuer under the
                    Indenture dated as May 6, 2005, providing
                   for the issuance Trust Certificates, Series 2005-4)
                  (Exact name of Registrant as specified in its Charter)


                                       California
                    (State or Other Jurisdiction of Incorporation)

               333-117817                          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 8.01  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 9.01 Financial Statements and Exhibits

     (c) Exhibits:

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     July 25, 2005.

                                    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,
                                  in its capacity as Indenture Trustee under
                                  the Indenture on behalf of Impac
                                  Assets Corp., Registrant


          Date:  Jul 27, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President


                                   EXHIBIT INDEX

          DOCUMENT

          99.1 Monthly Remittance Statement to the Certificateholders
          dated as of July 25, 2005.



Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Impac Funding Corporation						1. Certificate Payment Report					2
				Impac Funding Corporation						2. Collection Account Report					6
										2. Collection Account Report					6
										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12
				Certificate Insurer(s)						5. Delinquency Report					12
										6. REO Report					15

										7. Foreclosure Report					16
										8. Prepayment Report					17
										9. Prepayment Detail Report					20
										9. Prepayment Detail Report					20
										10. Realized Loss Report					25
										11. Realized Loss Detail Report					28
				Servicer(s)						11. Realized Loss Detail Report					28
				Servicer(s)						12. Triggers and Adj. Cert. Report					29
				Impac Funding Corp.						12. Triggers and Adj. Cert. Report					29
				Impac Funding Corp.						13. Additional Certificate Report					30
										13. Additional Certificate Report					30
										14. Other Related Information					31


				Underwriter(s)
				UBS Warburg, London
				Countrywide Funding Corporation
				Bear Stearns & Co.

										Total Number of Pages					31
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			April 01, 2005			Marion Hogan
				Close Date:			May 06, 2005			Administrator
				First Distribution Date:			May 25, 2005			(714) 247-6282
										marion.c.hogan@db.com
										marion.c.hogan@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			July 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			June 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							July 22, 2005
							July 22, 2005

										https://www.tss.db.com/invr






Page 1 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	Class		Original		Principal						Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

1-A-1A		$	1,047,829,000.00		1,018,276,230.64		2,838,802.52		30,408,267.71		33,247,070.23		0.00		0.00		987,867,962.93
1-A-1A		$	1,047,829,000.00		1,018,276,230.64		2,838,802.52		30,408,267.71		33,247,070.23		0.00		0.00		987,867,962.93
1-A-1B		$	200,000,000.00		194,359,238.13		526,727.79		5,804,051.56		6,330,779.35		0.00		0.00		188,555,186.57
1-A-2		$	138,648,000.00		134,737,598.24		382,964.08		4,023,600.70		4,406,564.78		0.00		0.00		130,713,997.54
1-A-IO		$	0.00		0.00		843,750.00		0.00		843,750.00		0.00		0.00		0.00
2-A-1		$	62,027,000.00		61,692,742.75		173,429.68		153,100.98		326,530.66		0.00		0.00		61,539,641.77
2-A-2		$	13,336,000.00		13,264,133.64		38,113.25		32,917.19		71,030.44		0.00		0.00		13,231,216.45
1-M-1		$	162,956,000.00		158,360,020.05		461,191.18		4,729,025.13		5,190,216.31		0.00		0.00		153,630,994.92
1-M-2		$	84,629,000.00		82,242,139.82		241,432.40		2,455,955.40		2,697,387.80		0.00		0.00		79,786,184.42
1-M-3		$	45,015,000.00		43,745,405.52		129,100.76		1,306,346.90		1,435,447.66		0.00		0.00		42,439,058.62
1-M-4		$	27,009,000.00		26,247,243.32		80,930.93		783,808.14		864,739.07		0.00		0.00		25,463,435.18
1-M-5		$	28,810,000.00		27,997,448.26		86,980.79		836,073.63		923,054.42		0.00		0.00		27,161,374.63
1-M-6		$	22,508,000.00		21,873,188.66		69,145.18		653,187.96		722,333.14		0.00		0.00		21,220,000.70
2-M-1		$	7,443,000.00		7,402,890.42		21,962.45		18,371.53		40,333.98		0.00		0.00		7,384,518.89
2-M-2		$	11,165,000.00		11,104,832.94		35,104.43		27,558.52		62,662.95		0.00		0.00		11,077,274.42
1-B-1		$	25,209,000.00		24,498,010.15		87,922.43		731,571.69		819,494.12		0.00		0.00		23,766,438.46
1-B-2		$	18,006,000.00		17,498,162.21		68,924.60		522,538.76		591,463.36		0.00		0.00		16,975,623.45
2-B-1		$	17,368,000.00		17,274,405.59		66,699.67		42,869.36		109,569.03		0.00		0.00		17,231,536.23
2-B-2		$	10,358,000.00		10,302,181.80		46,716.25		25,566.61		72,282.86		0.00		0.00		10,276,615.19
CERT		$	1,922,316,000.00		0.00		1,620,496.68		0.00		1,620,496.68		0.00		0.00		0.00


Total			3,844,632,000.00		1,870,875,872.14		7,820,395.07		52,554,811.77		60,375,206.84		0.00		0.00		1,818,321,060.37
Total





Page 2 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
1-A-1A	06/27/05		07/24/05		A-Act/360		45254NPA9		1,047,829,000.00		971.796191		2.709223		29.020258		31.729481	942.775933
1-A-1B	06/27/05		07/24/05		A-Act/360		45254NPB7		200,000,000.00		971.796191		2.633639		29.020258		31.653897	942.775933
1-A-2	06/27/05		07/24/05		A-Act/360		45254NPC5		138,648,000.00		971.796191		2.762132		29.020258		31.782390	942.775933
1-A-IO	06/01/05		06/30/05		F-30/360		45254NPD3		1,800,000,000.00		750.000000		0.468750		0.000000		0.468750	650.000000
2-A-1	06/27/05		07/24/05		A-Act/360		45254NPE1		62,027,000.00		994.611101		2.796035		2.468296		5.264331	992.142805
2-A-2	06/27/05		07/24/05		A-Act/360		45254NPF8		13,336,000.00		994.611101		2.857922		2.468296		5.326218	992.142805
1-M-1	06/27/05		07/24/05		A-Act/360		45254NPG6		162,956,000.00		971.796191		2.830158		29.020258		31.850416	942.775933
1-M-2	06/27/05		07/24/05		A-Act/360		45254NPH4		84,629,000.00		971.796191		2.852833		29.020258		31.873091	942.775933
1-M-3	06/27/05		07/24/05		A-Act/360		45254NPJ0		45,015,000.00		971.796191		2.867950		29.020258		31.888207	942.775933
1-M-4	06/27/05		07/24/05		A-Act/360		45254NPK7		27,009,000.00		971.796191		2.996443		29.020258		32.016701	942.775933
1-M-5	06/27/05		07/24/05		A-Act/360		45254NPL5		28,810,000.00		971.796191		3.019118		29.020258		32.039376	942.775933
1-M-6	06/27/05		07/24/05		A-Act/360		45254NPM3		22,508,000.00		971.796191		3.072027		29.020258		32.092285	942.775933
2-M-1	06/27/05		07/24/05		A-Act/360		45254NPN1		7,443,000.00		994.611100		2.950752		2.468296		5.419049	992.142804
2-M-2	06/27/05		07/24/05		A-Act/360		45254NPP6		11,165,000.00		994.611101		3.144150		2.468296		5.612445	992.142805
1-B-1	06/27/05		07/24/05		A-Act/360		45254NPQ4		25,209,000.00		971.796190		3.487740		29.020258		32.507998	942.775932
1-B-2	06/27/05		07/24/05		A-Act/360		45254NPR2		18,006,000.00		971.796191		3.827868		29.020258		32.848126	942.775933
2-B-1	06/27/05		07/24/05		A-Act/360		45254NPS0		17,368,000.00		994.611100		3.840377		2.468296		6.308673	992.142805
2-B-2	06/27/05		07/24/05		A-Act/360		45254NPT8		10,358,000.00		994.611103		4.510161		2.468296		6.978457	992.142807
CERT	06/01/05		06/30/05		A-30/360				1,922,316,000.00		0.000000		0.842992		0.000000		0.842992	0.000000




Page 3 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Distribution to Date -
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
1-A-1A	1,047,829,000.00		7,898,779.40		58,367,723.21		1,593,313.86		59,961,037.07		67,859,816.47		0.00		0.00		987,867,962.93
1-A-1B	200,000,000.00		1,481,974.27		11,140,696.28		304,117.15		11,444,813.43		12,926,787.70		0.00		0.00		188,555,186.57
1-A-2	138,648,000.00		1,066,445.27		7,723,176.29		210,826.17		7,934,002.46		9,000,447.73		0.00		0.00		130,713,997.54
1-A-IO	0.00		2,925,000.00		0.00		0.00		0.00		2,925,000.00		0.00		0.00		0.00
2-A-1	62,027,000.00		476,504.17		467,872.37		19,485.86		487,358.23		963,862.40		0.00		0.00		61,539,641.77
2-A-2	13,336,000.00		104,812.96		100,594.03		4,189.52		104,783.55		209,596.51		0.00		0.00		13,231,216.45
1-M-1	162,956,000.00		1,285,579.56		9,077,216.51		247,788.57		9,325,005.08		10,610,584.64		0.00		0.00		153,630,994.92
1-M-2	84,629,000.00		673,216.25		4,714,129.93		128,685.65		4,842,815.58		5,516,031.83		0.00		0.00		79,786,184.42
1-M-3	45,015,000.00		360,064.77		2,507,492.21		68,449.17		2,575,941.38		2,936,006.15		0.00		0.00		42,439,058.62
1-M-4	27,009,000.00		226,108.31		1,504,495.32		41,069.50		1,545,564.82		1,771,673.13		0.00		0.00		25,463,435.18
1-M-5	28,810,000.00		243,080.99		1,604,817.29		43,808.08		1,648,625.37		1,891,706.36		0.00		0.00		27,161,374.63
1-M-6	22,508,000.00		193,363.88		1,253,773.96		34,225.34		1,287,999.30		1,481,363.18		0.00		0.00		21,220,000.70
2-M-1	7,443,000.00		60,475.81		56,142.88		2,338.23		58,481.11		118,956.92		0.00		0.00		7,384,518.89
2-M-2	11,165,000.00		96,900.21		84,218.08		3,507.50		87,725.58		184,625.79		0.00		0.00		11,077,274.42
1-B-1	25,209,000.00		246,974.37		1,404,229.09		38,332.45		1,442,561.54		1,689,535.91		0.00		0.00		23,766,438.46
1-B-2	18,006,000.00		194,175.67		1,002,996.88		27,379.67		1,030,376.55		1,224,552.22		0.00		0.00		16,975,623.45
2-B-1	17,368,000.00		185,357.68		131,007.59		5,456.18		136,463.77		321,821.45		0.00		0.00		17,231,536.23
2-B-2	10,358,000.00		126,272.30		78,130.83		3,253.98		81,384.81		207,657.11		0.00		0.00		10,276,615.19
CERT	1,922,316,000.00		6,054,918.01		0.00		0.00		0.00		6,054,918.01		0.00		0.00		0.00


Total	3,844,632,000.00		23,900,003.88		101,218,712.75		2,776,226.88		103,994,939.63		127,894,943.51		0.00		0.00		1,818,321,060.37



Page 4 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Interest Detail -
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued		Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
1-A-1A	3.58438%		1,018,276,230.64		2,838,802.52		0.00		0.00		0.00		2,838,802.52		2,838,802.52		0.00
1-A-1B	3.48438%		194,359,238.13		526,727.79		0.00		0.00		0.00		526,727.79		526,727.79		0.00
1-A-2	3.65438%		134,737,598.24		382,964.08		0.00		0.00		0.00		382,964.08		382,964.08		0.00
1-A-IO	0.75000%		1,350,000,000.00		843,750.00		0.00		0.00		0.00		843,750.00		843,750.00		0.00
2-A-1	3.61438%		61,692,742.75		173,429.68		0.00		0.00		0.00		173,429.68		173,429.68		0.00
2-A-2	3.69438%		13,264,133.64		38,113.25		0.00		0.00		0.00		38,113.25		38,113.25		0.00
1-M-1	3.74438%		158,360,020.05		461,191.18		0.00		0.00		0.00		461,191.18		461,191.18		0.00
1-M-2	3.77438%		82,242,139.82		241,432.40		0.00		0.00		0.00		241,432.40		241,432.40		0.00
1-M-3	3.79438%		43,745,405.52		129,100.76		0.00		0.00		0.00		129,100.76		129,100.76		0.00
1-M-4	3.96438%		26,247,243.32		80,930.93		0.00		0.00		0.00		80,930.93		80,930.93		0.00
1-M-5	3.99438%		27,997,448.26		86,980.79		0.00		0.00		0.00		86,980.79		86,980.79		0.00
1-M-6	4.06438%		21,873,188.66		69,145.18		0.00		0.00		0.00		69,145.18		69,145.18		0.00
2-M-1	3.81438%		7,402,890.42		21,962.45		0.00		0.00		0.00		21,962.45		21,962.45		0.00
2-M-2	4.06438%		11,104,832.94		35,104.43		0.00		0.00		0.00		35,104.43		35,104.43		0.00
1-B-1	4.60883%		24,498,010.15		87,816.72		0.00		0.00		0.00		87,816.72		87,922.43		0.00
1-B-2	4.60883%		17,498,162.21		62,724.74		0.00		0.00		0.00		62,724.74		68,924.60		0.00
2-B-1	4.96438%		17,274,405.59		66,699.67		0.00		0.00		0.00		66,699.67		66,699.67		0.00
2-B-2	5.83020%		10,302,181.80		46,716.25		0.00		0.00		0.00		46,716.25		46,716.25		0.00
CERT	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		1,620,496.68		0.00


Total			3,220,875,872.14		6,193,592.82		0.00		0.00		0.00		6,193,592.82		7,820,395.07		0.00



Page 5 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										120,844.69		52,254,427.58		52,375,272.27
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										120,844.69		52,254,427.58		52,375,272.27
Interest Collections										561,740.67		8,639,719.37		9,201,460.04
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		(762,989.71)		(762,989.71)
Interest Fees										-175.44		-438,360.32		-438,535.76
TOTAL NET INTEREST										561,565.23		7,438,369.34		7,999,934.57
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										682,409.92		59,692,796.92		60,375,206.84



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											125,820.57		775,816.69		901,637.26
Curtailments											-4,975.88		473,674.38		468,698.50
Prepayments In Full											0.00		50,079,942.10		50,079,942.10
Repurchased/Substitutions											0.00		924,994.41		924,994.41
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Other Additional Principal											0.00		0.00		0.00
Delinquent Principal											-125,820.57		-422,767.04		-548,587.61
Realized Losses											-0.00		-0.00		-0.00
Advanced Principal											125,820.57		422,767.04		548,587.61
TOTAL PRINCIPAL COLLECTED											120,844.69		52,254,427.58		52,375,272.27


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
Closing Deposit										0.00		0.00		0.00
TOTAL PRINCIPAL OTHER ACCOUNTS										0.00		0.00		0.00





Page 6 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										578,562.29		8,840,911.87		9,419,474.16
Repurchased/Substitution Interest										0.00		5,385.86		5,385.86
Liquidation Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Additional Interest										0.00		0.00		0.00
Prepayment Interest Shortfalls										-0.00		-110,714.19		-110,714.19
Delinquent Interest										-578,562.29		-3,246,195.97		-3,824,758.26
Compensating Interest										0.00		110,714.19		110,714.19
Civil Relief Act Shortfalls										-0.00		-0.00		-0.00
Interest Advanced										561,740.67		3,039,617.60		3,601,358.27
TOTAL INTEREST COLLECTED										561,740.67		8,639,719.37		9,201,460.04


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														201,419.79
Deriviative Contract Payments														964,409.50

TOTAL INTEREST OTHER ACCOUNTS										0.00		-762,989.71		-762,989.71



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Servicing Fees										0.00		381,916.79		381,916.79
Owner Trustee Fee										175.44		2,478.93		2,654.37
Primary Mortgage Insurance														53,964.60

TOTAL INTEREST FEES										175.44		438,360.32		438,535.76




Page 7 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Credit Enhancement Report

ACCOUNTS


RESERVE

Reserve Funds Distribution to Certificate Holders						6,305.57
Required Reserve Funds Deposited						6,305.57
Releases						0.00




INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralized Amount/(Undercollateralized Amount)										2,978,491.77		0.00		2,978,491.77
Overcollateralization Release Amount										0.00		0.00		0.00
Overcollateralization Deficiency Amount										1,232,949.70		0.00		1,232,949.70
Overcollateralization Target Amount										4,031,901.97		0.00		4,031,901.97



Page 8 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										103		7,292		7,395
Prior										103		7,094		7,197
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-0		-185		-185
Repurchases										-0		-2		-2
Liquidations										-0		-0		-0
Current										103		6,907		7,010
Principal Balance:


Original										124,058,522.19		1,800,593,709.86		1,924,652,232.05
Prior										123,840,139.41		1,749,834,685.00		1,873,674,824.41
Prefunding										0.00		0.00		0.00
Scheduled Principal										-125,820.57		-775,816.69		-901,637.26
Partial Prepayments										(4,975.88)		-473,674.38		-468,698.50
Full Voluntary Prepayments										-0.00		-50,079,942.10		-50,079,942.10
Repurchases										-0.00		-924,994.41		-924,994.41
Liquidations										-0.00		-0.00		-0.00
Current										123,719,294.72		1,697,580,257.42		1,821,299,552.14





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 9 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										5.60611%		6.06652%		6.03684%
Weighted Average Coupon Prior										5.60618%		6.06567%		6.03586%
Weighted Average Coupon Current										5.60622%		6.06661%		6.03618%
Weighted Average Months to Maturity Original										356		352		352
Weighted Average Months to Maturity Prior										356		351		351
Weighted Average Months to Maturity Current										354		350		350
Weighted Avg Remaining Amortization Term Original										356		352		352
Weighted Avg Remaining Amortization Term Prior										356		351		351
Weighted Avg Remaining Amortization Term Current										354		350		350
Weighted Average Seasoning Original										1.37		5.83		5.54
Weighted Average Seasoning Prior										2.37		6.77		6.48
Weighted Average Seasoning Current										3.37		7.64		7.35









Page 10 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										2.54639%		3.39316%		3.33799%
Weighted Average Margin Prior										2.54639%		3.39542%		3.33974%
Weighted Average Margin Current										2.54639%		3.39969%		3.34269%
Weighted Average Max Rate Original										11.60729%		12.00778%		11.98169%
Weighted Average Max Rate Prior										11.60736%		12.00266%		11.97674%
Weighted Average Max Rate Current										11.60739%		11.99461%		11.96874%
Weighted Average Min Rate Original										5.60729%		3.52069%		3.65664%
Weighted Average Min Rate Prior										5.60736%		3.52392%		3.66055%
Weighted Average Min Rate Current										5.60739%		3.52969%		3.66849%
Weighted Average Cap Up Original										1.01865%		1.19649%		1.18491%
Weighted Average Cap Up Prior										1.01865%		1.19742%		1.18569%
Weighted Average Cap Up Current										1.01866%		1.19737%		1.18543%
Weighted Average Cap Down Original										1.01865%		1.19649%		1.18491%
Weighted Average Cap Down Prior										1.01865%		1.19742%		1.18569%
Weighted Average Cap Down Current										1.01866%		1.19737%		1.18543%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										0.00		381,916.81		381,916.81
Delinquent Servicing Fees										16,821.62		206,578.37		223,399.99
TOTAL SERVICING FEES										16,821.62		588,495.18		605,316.80


Total Servicing Fees										16,821.62		588,495.18		605,316.80
Compensating Interest										-0.00		-110,714.19		-110,714.19
Delinquent Servicing Fees										-16,821.62		-206,578.37		-223,399.99
COLLECTED SERVICING FEES										0.00		271,202.62		271,202.62


Total Advaced Interest										561,740.67		3,039,617.60		3,601,358.27
Total Advaced Principal										125,820.57		422,767.04		548,587.61
Aggregate Advances with respect to this Distribution										687,561.24		3,462,384.64		4,149,945.88





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Prepayment Interest Shortfall (PPIS)										0.00		110,714.19		110,714.19
Compensating Interest										-0.00		-110,714.19		-110,714.19
Net Prepayment Interest Shortfall (PPIS)										0.00		0.00		0.00






Page 11 of 31
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Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				9,855,067.79		2,753,170.84		809,347.25		13,417,585.88
			% Balance				0.54%		0.15%		0.04%		0.74%
			# Loans				46		14		4		64
			% # Loans				0.66%		0.20%		0.06%		0.91%
	FORECLOSURE		Balance		174,953.28		0.00		0.00		0.00		174,953.28
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.01%		0.00%		0.00%		0.00%		0.01%
	BANKRUPTCY		Balance		2,418,930.37		26,922.64		149,616.00		0.00		2,595,469.01
			% Balance		0.13%		0.00%		0.01%		0.00%		0.14%
			# Loans		17		1		1		0		19
			% # Loans		0.24%		0.01%		0.01%		0.00%		0.27%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		2,593,883.65		9,881,990.43		2,902,786.84		809,347.25		16,188,008.17
			% Balance		0.14%		0.54%		0.16%		0.04%		0.89%
			# Loans		18		47		15		4		84
			% # Loans		0.26%		0.67%		0.21%		0.06%		1.20%









Page 12 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				9,855,067.79		2,753,170.84		809,347.25		13,417,585.88
			% Balance				0.58%		0.16%		0.05%		0.79%
			# Loans				46		14		4		64
			% # Loans				0.67%		0.20%		0.06%		0.93%
	FORECLOSURE		Balance		174,953.28		0.00		0.00		0.00		174,953.28
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.01%		0.00%		0.00%		0.00%		0.01%
	BANKRUPTCY		Balance		2,418,930.37		26,922.64		149,616.00		0.00		2,595,469.01
			% Balance		0.14%		0.00%		0.01%		0.00%		0.15%
			# Loans		17		1		1		0		19
			% # Loans		0.25%		0.01%		0.01%		0.00%		0.28%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		2,593,883.65		9,881,990.43		2,902,786.84		809,347.25		16,188,008.17
			% Balance		0.15%		0.58%		0.17%		0.05%		0.95%
			# Loans		18		47		15		4		84
			% # Loans		0.26%		0.68%		0.22%		0.06%		1.22%










Page 13 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	FORECLOSURE		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%









Page 14 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date




TOTAL


Page 15 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
3900011136 1
3900011136 1			182,400.00		174,953.28		01-Jul-2005		5.750%		CA - 95.00%		360		01-Mar-2002



TOTAL			182,400.00		174,953.28


Page 16 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										0		185		185
Number of Repurchased Loans										0		2		2
Total Number of Loans Prepaid in Full										0		187		187
Curtailments Amount										-4,975.88		473,674.38		468,698.50
Paid in Full Balance										0.00		50,079,942.10		50,079,942.10
Repurchased Loans Balance										0.00		924,994.41		924,994.41
Total Prepayment Amount										-4,975.88		51,478,610.89		51,473,635.01

Cumulative


Number of Paid in Full Loans										0		383		383
Number of Repurchased Loans										0		2		2
Total Number of Loans Prepaid in Full										0		385		385
Paid in Full Balance										0.00		97,907,461.50		97,907,461.50
Repurchased Loans Balance										0.00		924,994.41		924,994.41
Curtailments Amount										-15,524.63		1,759,521.76		1,743,997.13
Total Prepayment Amount										-15,524.63		100,591,977.67		100,576,453.04










Page 17 of 31
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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										0.00%		2.94%		2.75%
3 Months Avg SMM										0.00%		1.90%		1.78%
12 Months Avg SMM										0.00%		1.90%		1.78%
Avg SMM Since Cut-off										0.00%		1.90%		1.78%


CPR										-0.05%		30.13%		28.43%
3 Months Avg CPR										-0.05%		20.56%		19.34%
12 Months Avg CPR										-0.05%		20.56%		19.34%
Avg CPR Since Cut-off										-0.05%		20.56%		19.34%


PSA										-7.17%		1,972.43%		1,934.56%
3 Months Avg PSA Approximation										-10.60%		1,524.64%		1,498.51%
12 Months Avg PSA Approximation										-10.60%		1,524.64%		1,498.51%
Avg PSA Since Cut-off Approximation										-10.60%		1,524.64%		1,498.51%










Page 18 of 31
Impac CMB Trust 2005-4

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Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(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) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) 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) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 19 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1103167182 1			171,000.00		170,093.63			17-Jun-2005		11.000%		HI - 15.00%		Paid Off - 360		01-May-2004
			171,000.00

1103292726 1			51,000.00		50,888.80			16-Jun-2005		11.750%		FL - 30.00%		Paid Off - 180		01-Dec-2004
1103292726 1					50,888.80			16-Jun-2005		11.750%		FL - 30.00%		Paid Off - 180		01-Dec-2004
1103295242 1			425,700.00		425,700.00			30-Jun-2005		6.125%		CA - 80.00%		Paid Off - 360		01-May-2005
1103295242 1					425,700.00			30-Jun-2005		6.125%		CA - 80.00%		Paid Off - 360		01-May-2005
1103309243 1			68,196.00		68,072.60			16-Jun-2005		11.875%		CO - 30.00%		Paid Off - 180		01-Jan-2005
1103309243 1					68,072.60			16-Jun-2005		11.875%		CO - 30.00%		Paid Off - 180		01-Jan-2005
1103322914 1			100,800.00		100,547.70			02-Jun-2005		10.375%		CA - 20.00%		Paid Off - 180		01-Jan-2005
1103322914 1					100,547.70			02-Jun-2005		10.375%		CA - 20.00%		Paid Off - 180		01-Jan-2005
1103329508 1			111,750.00		111,485.58			03-Jun-2005		11.375%		CA - 15.00%		Paid Off - 180		01-Dec-2004
1103329508 1					111,485.58			03-Jun-2005		11.375%		CA - 15.00%		Paid Off - 180		01-Dec-2004
1103332299 1			64,000.00		63,741.62			08-Jun-2005		8.875%		CA - 20.00%		Paid Off - 180		01-Nov-2004
1103332299 1					63,741.62			08-Jun-2005		8.875%		CA - 20.00%		Paid Off - 180		01-Nov-2004
1103334905 1			50,700.00		50,608.29			01-Jun-2005		11.875%		FL - 30.00%		Paid Off - 180		01-Jan-2005
1103334905 1					50,608.29			01-Jun-2005		11.875%		FL - 30.00%		Paid Off - 180		01-Jan-2005
1103337011 1			50,000.00		49,815.00			07-Jun-2005		8.500%		VA - 10.00%		Paid Off - 360		01-Jan-2005
1103337011 1					49,815.00			07-Jun-2005		8.500%		VA - 10.00%		Paid Off - 360		01-Jan-2005
1103366252 1			280,000.00		265,182.41			30-Jun-2005		5.875%		CA - 73.69%		Paid Off - 360		01-Apr-2005
1103366252 1					265,182.41			30-Jun-2005		5.875%		CA - 73.69%		Paid Off - 360		01-Apr-2005
1103366343 1			280,000.00		279,139.37			30-Jun-2005		5.875%		CA - 70.00%		Paid Off - 360		01-Apr-2005
1103366343 1					279,139.37			30-Jun-2005		5.875%		CA - 70.00%		Paid Off - 360		01-Apr-2005
1103367073 1			185,000.00		184,695.83			09-Jun-2005		7.000%		FL - 94.73%		Paid Off - 360		01-May-2005
1103367073 1					184,695.83			09-Jun-2005		7.000%		FL - 94.73%		Paid Off - 360		01-May-2005
1103375889 1			104,000.00		103,755.14			29-Jun-2005		7.250%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103375889 1					103,755.14			29-Jun-2005		7.250%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103377526 1			392,000.00		391,998.33			22-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-May-2005
1103377526 1					391,998.33			22-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-May-2005
1103384064 1			268,000.00		268,000.00			30-Jun-2005		6.000%		MD - 80.00%		Paid Off - 360		01-Apr-2005
1103384064 1					268,000.00			30-Jun-2005		6.000%		MD - 80.00%		Paid Off - 360		01-Apr-2005
1103384100 1			189,000.00		189,000.00			29-Jun-2005		6.250%		VA - 90.00%		Paid Off - 360		01-Apr-2005
1103384100 1					189,000.00			29-Jun-2005		6.250%		VA - 90.00%		Paid Off - 360		01-Apr-2005
1103384131 1			292,000.00		292,000.00			10-Jun-2005		6.075%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103384131 1					292,000.00			10-Jun-2005		6.075%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103384135 1			572,000.00		572,000.00			15-Jun-2005		4.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103384135 1					572,000.00			15-Jun-2005		4.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103385105 1			650,000.00		649,999.99			17-Jun-2005		5.875%		CA - 70.30%		Paid Off - 360		01-Mar-2005
1103385105 1					649,999.99			17-Jun-2005		5.875%		CA - 70.30%		Paid Off - 360		01-Mar-2005
1103385431 1			70,400.00		70,400.00			23-Jun-2005		5.500%		SC - 80.00%		Paid Off - 360		01-May-2005
1103385431 1					70,400.00			23-Jun-2005		5.500%		SC - 80.00%		Paid Off - 360		01-May-2005
1103385651 1			1,000,000.00		1,000,000.00			01-Jun-2005		5.500%		HI - 40.00%		Paid Off - 360		01-May-2005
1103385651 1					1,000,000.00			01-Jun-2005		5.500%		HI - 40.00%		Paid Off - 360		01-May-2005
1103386422 1			451,500.00		451,500.00			30-Jun-2005		5.625%		HI - 70.00%		Paid Off - 360		01-May-2005
1103386422 1					451,500.00			30-Jun-2005		5.625%		HI - 70.00%		Paid Off - 360		01-May-2005
1103386534 1			322,000.00		322,000.00			14-Jun-2005		5.875%		MA - 68.52%		Paid Off - 360		01-May-2005
1103386534 1					322,000.00			14-Jun-2005		5.875%		MA - 68.52%		Paid Off - 360		01-May-2005
1103386720 1			112,000.00		111,824.73			17-Jun-2005		7.250%		MN - 80.00%		Paid Off - 360		01-May-2005
1103386720 1					111,824.73			17-Jun-2005		7.250%		MN - 80.00%		Paid Off - 360		01-May-2005
1103387290 1			157,950.00		157,950.00			14-Jun-2005		7.625%		CA - 80.00%		Paid Off - 360		01-May-2005
1103387290 1					157,950.00			14-Jun-2005		7.625%		CA - 80.00%		Paid Off - 360		01-May-2005
1103387886 1			981,000.00		981,000.00			29-Jun-2005		5.000%		CA - 60.37%		Paid Off - 360		01-Dec-2004
1103387886 1					981,000.00			29-Jun-2005		5.000%		CA - 60.37%		Paid Off - 360		01-Dec-2004
1103388100 1			650,000.00		650,000.00			20-Jun-2005		8.375%		FL - 74.29%		Paid Off - 360		01-May-2005
1103388100 1					650,000.00			20-Jun-2005		8.375%		FL - 74.29%		Paid Off - 360		01-May-2005
1103388668 1			85,600.00		85,600.00			28-Jun-2005		7.430%		KS - 80.00%		Paid Off - 360		01-Mar-2005
1103388668 1					85,600.00			28-Jun-2005		7.430%		KS - 80.00%		Paid Off - 360		01-Mar-2005
1103389233 1			122,250.00		122,087.59			02-Jun-2005		5.390%		MA - 75.00%		Paid Off - 360		01-Mar-2005
1103389233 1					122,087.59			02-Jun-2005		5.390%		MA - 75.00%		Paid Off - 360		01-Mar-2005
1103389378 1			226,300.00		225,364.12			10-Jun-2005		5.840%		CA - 73.00%		Paid Off - 360		01-Mar-2005
1103389378 1					225,364.12			10-Jun-2005		5.840%		CA - 73.00%		Paid Off - 360		01-Mar-2005
1103389399 1			196,000.00		196,000.00			16-Jun-2005		6.740%		FL - 80.00%		Paid Off - 360		01-Mar-2005
1103389399 1					196,000.00			16-Jun-2005		6.740%		FL - 80.00%		Paid Off - 360		01-Mar-2005
1103389487 1			437,600.00		437,600.00			10-Jun-2005		6.140%		CA - 88.59%		Paid Off - 360		01-Apr-2005
1103389487 1					437,600.00			10-Jun-2005		6.140%		CA - 88.59%		Paid Off - 360		01-Apr-2005
1103389490 1			338,000.00		336,704.62			13-Jun-2005		6.240%		VA - 62.95%		Paid Off - 360		01-Mar-2005
1103389490 1					336,704.62			13-Jun-2005		6.240%		VA - 62.95%		Paid Off - 360		01-Mar-2005
1103389586 1			248,000.00		247,999.00			29-Jun-2005		6.500%		NV - 80.00%		Paid Off - 360		01-May-2005
1103389586 1					247,999.00			29-Jun-2005		6.500%		NV - 80.00%		Paid Off - 360		01-May-2005
1103389731 1			206,150.00		205,451.26			27-Jun-2005		6.875%		NE - 95.00%		Paid Off - 360		01-Mar-2005
1103389731 1					205,451.26			27-Jun-2005		6.875%		NE - 95.00%		Paid Off - 360		01-Mar-2005
1103390384 1			295,800.00		295,800.00			17-Jun-2005		6.625%		CA - 68.00%		Paid Off - 360		01-May-2005
1103390384 1					295,800.00			17-Jun-2005		6.625%		CA - 68.00%		Paid Off - 360		01-May-2005
1103391098 1			374,550.00		374,550.00			17-Jun-2005		5.625%		CA - 70.00%		Paid Off - 360		01-May-2005
1103391098 1					374,550.00					5.625%		CA - 70.00%		Paid Off - 360


Page 20 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1103391430 1			380,600.00		380,600.00			07-Jun-2005		6.500%		VA - 69.99%		Paid Off - 360		01-May-2005
			380,600.00

1103392713 1			200,050.00		200,050.00			21-Jun-2005		6.000%		FL - 70.00%		Paid Off - 360		01-May-2005
1103392713 1					200,050.00			21-Jun-2005		6.000%		FL - 70.00%		Paid Off - 360		01-May-2005
1103392977 1			382,000.00		382,000.00			06-Jun-2005		5.750%		CA - 55.37%		Paid Off - 360		01-May-2005
1103392977 1					382,000.00			06-Jun-2005		5.750%		CA - 55.37%		Paid Off - 360		01-May-2005
1103393066 1			166,392.00		166,392.00			16-Jun-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103393066 1					166,392.00			16-Jun-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103393090 1			155,700.00		155,700.00			17-Jun-2005		8.875%		FL - 90.00%		Paid Off - 360		01-Apr-2005
1103393090 1					155,700.00			17-Jun-2005		8.875%		FL - 90.00%		Paid Off - 360		01-Apr-2005
1103393169 1			311,752.00		311,752.00			28-Jun-2005		6.375%		VA - 80.00%		Paid Off - 360		01-Apr-2005
1103393169 1					311,752.00			28-Jun-2005		6.375%		VA - 80.00%		Paid Off - 360		01-Apr-2005
1103393883 1			280,000.00		280,000.00			01-Jun-2005		5.500%		CA - 70.00%		Paid Off - 360		01-May-2005
1103393883 1					280,000.00			01-Jun-2005		5.500%		CA - 70.00%		Paid Off - 360		01-May-2005
1103394669 1			400,000.00		398,855.45			21-Jun-2005		6.250%		CA - 37.38%		Paid Off - 360		01-Apr-2005
1103394669 1					398,855.45			21-Jun-2005		6.250%		CA - 37.38%		Paid Off - 360		01-Apr-2005
1103394944 1			408,244.00		408,244.00			23-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103394944 1					408,244.00			23-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103395036 1			368,000.00		368,000.00			01-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
1103395036 1					368,000.00			01-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Mar-2005
1103395043 1			520,000.00		520,000.00			27-Jun-2005		6.000%		CA - 79.81%		Paid Off - 360		01-Mar-2005
1103395043 1					520,000.00			27-Jun-2005		6.000%		CA - 79.81%		Paid Off - 360		01-Mar-2005
1103395139 1			364,760.00		363,612.02			23-Jun-2005		5.750%		CA - 79.11%		Paid Off - 360		01-Apr-2005
1103395139 1					363,612.02			23-Jun-2005		5.750%		CA - 79.11%		Paid Off - 360		01-Apr-2005
1103395169 1			387,700.00		387,700.00			21-Jun-2005		6.250%		NV - 79.99%		Paid Off - 360		01-Apr-2005
1103395169 1					387,700.00			21-Jun-2005		6.250%		NV - 79.99%		Paid Off - 360		01-Apr-2005
1103395235 1			376,216.00		376,216.00			15-Jun-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103395235 1					376,216.00			15-Jun-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103395347 1			684,400.00		684,400.00			01-Jun-2005		7.375%		VA - 79.99%		Paid Off - 360		01-Apr-2005
1103395347 1					684,400.00			01-Jun-2005		7.375%		VA - 79.99%		Paid Off - 360		01-Apr-2005
1103395530 1			103,700.00		103,700.00			02-Jun-2005		6.125%		AZ - 70.00%		Paid Off - 360		01-May-2005
1103395530 1					103,700.00			02-Jun-2005		6.125%		AZ - 70.00%		Paid Off - 360		01-May-2005
1103396335 1			500,800.00		500,800.00			28-Jun-2005		7.000%		NV - 80.00%		Paid Off - 360		01-May-2005
1103396335 1					500,800.00			28-Jun-2005		7.000%		NV - 80.00%		Paid Off - 360		01-May-2005
1103399093 1			850,000.00		850,000.00			22-Jun-2005		5.990%		HI - 51.51%		Paid Off - 360		01-Apr-2005
1103399093 1					850,000.00			22-Jun-2005		5.990%		HI - 51.51%		Paid Off - 360		01-Apr-2005
1103399679 1			516,690.00		516,690.00			07-Jun-2005		6.250%		VA - 90.01%		Paid Off - 360		01-May-2005
1103399679 1					516,690.00			07-Jun-2005		6.250%		VA - 90.01%		Paid Off - 360		01-May-2005
1103399715 1			135,000.00		135,000.00			17-Jun-2005		7.125%		VA - 79.88%		Paid Off - 360		01-Apr-2005
1103399715 1					135,000.00			17-Jun-2005		7.125%		VA - 79.88%		Paid Off - 360		01-Apr-2005
1103399727 1			219,200.00		219,200.00			30-Jun-2005		6.125%		VA - 80.00%		Paid Off - 360		01-May-2005
1103399727 1					219,200.00			30-Jun-2005		6.125%		VA - 80.00%		Paid Off - 360		01-May-2005
1103399833 1			325,832.00		325,832.00			27-Jun-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103399833 1					325,832.00			27-Jun-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Apr-2005
1103400020 1			521,100.00		521,100.00			13-Jun-2005		6.875%		VA - 79.99%		Paid Off - 360		01-May-2005
1103400020 1					521,100.00			13-Jun-2005		6.875%		VA - 79.99%		Paid Off - 360		01-May-2005
1103400395 1			228,750.00		228,750.00			23-Jun-2005		5.750%		CA - 80.00%		Paid Off - 360		01-May-2005
1103400395 1					228,750.00			23-Jun-2005		5.750%		CA - 80.00%		Paid Off - 360		01-May-2005
1103400406 1			425,000.00		425,000.00			30-Jun-2005		6.500%		CA - 56.66%		Paid Off - 360		01-May-2005
1103400406 1					425,000.00			30-Jun-2005		6.500%		CA - 56.66%		Paid Off - 360		01-May-2005
1103402440 1			400,000.00		397,742.42			30-Jun-2005		6.375%		MD - 93.02%		Paid Off - 360		01-Jan-2005
1103402440 1					397,742.42			30-Jun-2005		6.375%		MD - 93.02%		Paid Off - 360		01-Jan-2005
1103402454 1			190,000.00		189,089.12			03-Jun-2005		6.250%		CA - 48.74%		Paid Off - 360		01-Feb-2005
1103402454 1					189,089.12			03-Jun-2005		6.250%		CA - 48.74%		Paid Off - 360		01-Feb-2005
1103402497 1			126,913.00		124,652.81			24-Jun-2005		7.625%		AZ - 90.00%		Paid Off - 360		01-Oct-2004
1103402497 1					124,652.81			24-Jun-2005		7.625%		AZ - 90.00%		Paid Off - 360		01-Oct-2004
1103402568 1			400,000.00		397,170.37			22-Jun-2005		6.000%		DE - 63.23%		Paid Off - 360		01-Dec-2004
1103402568 1					397,170.37			22-Jun-2005		6.000%		DE - 63.23%		Paid Off - 360		01-Dec-2004
1103402586 1			117,300.00		117,023.80			01-Jun-2005		7.250%		FL - 60.00%		Paid Off - 360		01-Apr-2005
1103402586 1					117,023.80			01-Jun-2005		7.250%		FL - 60.00%		Paid Off - 360		01-Apr-2005
1103402657 1			145,422.00		144,730.94			29-Jun-2005		7.250%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
1103402657 1					144,730.94			29-Jun-2005		7.250%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
1103402662 1			172,000.00		170,803.18			30-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1103402662 1					170,803.18			30-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1103402719 1			198,000.00		196,836.97			28-Jun-2005		7.000%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1103402719 1					196,836.97			28-Jun-2005		7.000%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1103402741 1			414,800.00		412,267.37			23-Jun-2005		5.950%		CA - 89.20%		Paid Off - 360		01-Jan-2005
1103402741 1					412,267.37			23-Jun-2005		5.950%		CA - 89.20%		Paid Off - 360		01-Jan-2005
1103402811 1			144,000.00		143,298.71			03-Jun-2005		7.125%		NJ - 90.00%		Paid Off - 360		01-Jan-2005
1103402811 1					143,298.71			03-Jun-2005		7.125%		NJ - 90.00%		Paid Off - 360		01-Jan-2005
1103402853 1			369,150.00		366,896.10			29-Jun-2005		5.950%		CA - 80.78%		Paid Off - 360		01-Jan-2005
1103402853 1					366,896.10			29-Jun-2005		5.950%		CA - 80.78%		Paid Off - 360		01-Jan-2005
1103402887 1			189,050.00		188,483.49			30-Jun-2005		7.500%		TN - 94.52%		Paid Off - 360		01-Mar-2005
1103402887 1					188,483.49			30-Jun-2005		7.500%		TN - 94.52%		Paid Off - 360		01-Mar-2005
1103402945 1			215,000.00		213,893.18			27-Jun-2005		5.875%		CA - 70.03%		Paid Off - 360		01-Feb-2005
1103402945 1					213,893.18					5.875%		CA - 70.03%		Paid Off - 360


Page 21 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1103403031 1			252,000.00		250,772.73			14-Jun-2005		7.125%		DC - 90.00%		Paid Off - 360		01-Jan-2005
			252,000.00

1103403084 1			500,000.00		498,386.31			29-Jun-2005		7.125%		FL - 89.71%		Paid Off - 360		01-Mar-2005
1103403084 1					498,386.31			29-Jun-2005		7.125%		FL - 89.71%		Paid Off - 360		01-Mar-2005
1103403091 1			180,000.00		179,177.49			30-Jun-2005		6.500%		IL - 72.00%		Paid Off - 360		01-Feb-2005
1103403091 1					179,177.49			30-Jun-2005		6.500%		IL - 72.00%		Paid Off - 360		01-Feb-2005
1103403100 1			285,750.00		284,850.00			29-Jun-2005		7.250%		NV - 90.00%		Paid Off - 360		01-Mar-2005
1103403100 1					284,850.00			29-Jun-2005		7.250%		NV - 90.00%		Paid Off - 360		01-Mar-2005
1103403159 1			367,500.00		366,025.58			21-Jun-2005		6.000%		FL - 75.00%		Paid Off - 360		01-Mar-2005
1103403159 1					366,025.58			21-Jun-2005		6.000%		FL - 75.00%		Paid Off - 360		01-Mar-2005
1103403205 1			157,500.00		156,911.80			13-Jun-2005		6.375%		FL - 90.00%		Paid Off - 360		01-Mar-2005
1103403205 1					156,911.80			13-Jun-2005		6.375%		FL - 90.00%		Paid Off - 360		01-Mar-2005
1103403250 1			187,000.00		186,334.54			23-Jun-2005		6.625%		FL - 89.05%		Paid Off - 360		01-Mar-2005
1103403250 1					186,334.54			23-Jun-2005		6.625%		FL - 89.05%		Paid Off - 360		01-Mar-2005
1103403273 1			304,000.00		302,944.18			22-Jun-2005		6.750%		IL - 80.00%		Paid Off - 360		01-Mar-2005
1103403273 1					302,944.18			22-Jun-2005		6.750%		IL - 80.00%		Paid Off - 360		01-Mar-2005
1103403301 1			176,310.00		175,695.31			21-Jun-2005		7.875%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1103403301 1					175,695.31			21-Jun-2005		7.875%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1103403308 1			255,000.00		254,092.57			30-Jun-2005		6.625%		AZ - 79.94%		Paid Off - 360		01-Mar-2005
1103403308 1					254,092.57			30-Jun-2005		6.625%		AZ - 79.94%		Paid Off - 360		01-Mar-2005
1103403402 1			175,750.00		172,529.81			30-Jun-2005		6.950%		TN - 95.00%		Paid Off - 360		01-Mar-2005
1103403402 1					172,529.81			30-Jun-2005		6.950%		TN - 95.00%		Paid Off - 360		01-Mar-2005
1103403404 1			106,600.00		106,367.05			14-Jun-2005		7.625%		FL - 89.97%		Paid Off - 360		01-Apr-2005
1103403404 1					106,367.05			14-Jun-2005		7.625%		FL - 89.97%		Paid Off - 360		01-Apr-2005
1103403476 1			223,250.00		222,511.57			06-Jun-2005		7.000%		IL - 95.00%		Paid Off - 360		01-Mar-2005
1103403476 1					222,511.57			06-Jun-2005		7.000%		IL - 95.00%		Paid Off - 360		01-Mar-2005
1103403491 1			40,050.00		39,966.75			13-Jun-2005		7.875%		NY - 90.00%		Paid Off - 360		01-Apr-2005
1103403491 1					39,966.75			13-Jun-2005		7.875%		NY - 90.00%		Paid Off - 360		01-Apr-2005
1103403509 1			89,100.00		88,839.56			24-Jun-2005		7.625%		AZ - 90.00%		Paid Off - 360		01-Mar-2005
1103403509 1					88,839.56			24-Jun-2005		7.625%		AZ - 90.00%		Paid Off - 360		01-Mar-2005
1103403544 1			361,000.00		359,834.90			17-Jun-2005		7.125%		MA - 95.00%		Paid Off - 360		01-Mar-2005
1103403544 1					359,834.90			17-Jun-2005		7.125%		MA - 95.00%		Paid Off - 360		01-Mar-2005
1103403588 1			256,025.00		255,178.13			28-Jun-2005		7.000%		VA - 95.00%		Paid Off - 360		01-Mar-2005
1103403588 1					255,178.13			28-Jun-2005		7.000%		VA - 95.00%		Paid Off - 360		01-Mar-2005
1103403592 1			33,250.00		33,145.28			01-Jun-2005		7.250%		LA - 95.00%		Paid Off - 360		01-Mar-2005
1103403592 1					33,145.28			01-Jun-2005		7.250%		LA - 95.00%		Paid Off - 360		01-Mar-2005
1103403603 1			168,000.00		167,357.37			10-Jun-2005		6.250%		FL - 80.00%		Paid Off - 360		01-Mar-2005
1103403603 1					167,357.37			10-Jun-2005		6.250%		FL - 80.00%		Paid Off - 360		01-Mar-2005
1103403646 1			166,250.00		165,685.40			10-Jun-2005		6.875%		IL - 95.00%		Paid Off - 360		01-Mar-2005
1103403646 1					165,685.40			10-Jun-2005		6.875%		IL - 95.00%		Paid Off - 360		01-Mar-2005
1103403695 1			138,600.00		138,214.68			08-Jun-2005		7.875%		OH - 90.00%		Paid Off - 360		01-Mar-2005
1103403695 1					138,214.68			08-Jun-2005		7.875%		OH - 90.00%		Paid Off - 360		01-Mar-2005
1103403745 1			256,500.00		255,896.06			06-Jun-2005		7.250%		VA - 95.00%		Paid Off - 360		01-Apr-2005
1103403745 1					255,896.06			06-Jun-2005		7.250%		VA - 95.00%		Paid Off - 360		01-Apr-2005
1103403748 1			225,990.00		225,312.79			06-Jun-2005		7.500%		OR - 90.00%		Paid Off - 360		01-Mar-2005
1103403748 1					225,312.79			06-Jun-2005		7.500%		OR - 90.00%		Paid Off - 360		01-Mar-2005
1103403754 1			370,500.00		369,274.53			01-Jun-2005		7.000%		MA - 95.00%		Paid Off - 360		01-Mar-2005
1103403754 1					369,274.53			01-Jun-2005		7.000%		MA - 95.00%		Paid Off - 360		01-Mar-2005
1103403762 1			147,150.00		146,803.52			23-Jun-2005		7.250%		WI - 90.00%		Paid Off - 360		01-Apr-2005
1103403762 1					146,803.52			23-Jun-2005		7.250%		WI - 90.00%		Paid Off - 360		01-Apr-2005
1103403847 1			#######		397,396.58			03-Jun-2005		7.500%		MD - 95.00%		Paid Off - 360		01-Mar-2005
1103403847 1					397,396.58			03-Jun-2005		7.500%		MD - 95.00%		Paid Off - 360		01-Mar-2005
1103403857 1			421,000.00		419,465.22			10-Jun-2005		6.500%		CO - 73.86%		Paid Off - 360		01-Mar-2005
1103403857 1					419,465.22			10-Jun-2005		6.500%		CO - 73.86%		Paid Off - 360		01-Mar-2005
1103403894 1			451,250.00		449,793.64			28-Jun-2005		7.125%		MD - 95.00%		Paid Off - 360		01-Mar-2005
1103403894 1					449,793.64			28-Jun-2005		7.125%		MD - 95.00%		Paid Off - 360		01-Mar-2005
1103403943 1			56,700.00		56,572.96			14-Jun-2005		7.500%		LA - 70.00%		Paid Off - 360		01-Apr-2005
1103403943 1					56,572.96			14-Jun-2005		7.500%		LA - 70.00%		Paid Off - 360		01-Apr-2005
1103404019 1			37,680.00		37,577.24			20-Jun-2005		6.500%		OH - 80.00%		Paid Off - 360		01-Apr-2005
1103404019 1					37,577.24			20-Jun-2005		6.500%		OH - 80.00%		Paid Off - 360		01-Apr-2005
1103404086 1			45,000.00		44,884.04			28-Jun-2005		8.250%		OH - 90.00%		Paid Off - 360		01-Mar-2005
1103404086 1					44,884.04			28-Jun-2005		8.250%		OH - 90.00%		Paid Off - 360		01-Mar-2005
1103404101 1			420,847.00		419,553.48			24-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103404101 1					419,553.48			24-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Apr-2005
1103404106 1			201,000.00		200,467.02			02-Jun-2005		7.375%		RI - 60.00%		Paid Off - 360		01-Apr-2005
1103404106 1					200,467.02			02-Jun-2005		7.375%		RI - 60.00%		Paid Off - 360		01-Apr-2005
1103404127 1			204,250.00		203,590.77			27-Jun-2005		7.125%		FL - 95.00%		Paid Off - 360		01-Mar-2005
1103404127 1					203,590.77			27-Jun-2005		7.125%		FL - 95.00%		Paid Off - 360		01-Mar-2005
1103404181 1			194,750.00		194,256.35			30-Jun-2005		6.875%		CA - 95.00%		Paid Off - 360		01-Apr-2005
1103404181 1					194,256.35			30-Jun-2005		6.875%		CA - 95.00%		Paid Off - 360		01-Apr-2005
1103404185 1			351,976.00		351,187.43			20-Jun-2005		7.500%		CA - 90.00%		Paid Off - 360		01-Apr-2005
1103404185 1					351,187.43			20-Jun-2005		7.500%		CA - 90.00%		Paid Off - 360		01-Apr-2005
1103404262 1			60,750.00		60,623.75			07-Jun-2005		7.875%		TN - 90.00%		Paid Off - 360		01-Apr-2005
1103404262 1					60,623.75			07-Jun-2005		7.875%		TN - 90.00%		Paid Off - 360		01-Apr-2005
1103404269 1			393,750.00		392,729.32			29-Jun-2005		7.500%		CA - 90.00%		Paid Off - 360		01-Apr-2005
1103404269 1					392,729.32					7.500%		CA - 90.00%		Paid Off - 360


Page 22 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1103404277 1			176,250.00		175,835.01			27-Jun-2005		7.250%		KS - 80.11%		Paid Off - 360		01-Apr-2005
			176,250.00

1103404302 1			632,000.00		630,008.94			03-Jun-2005		6.625%		IL - 80.00%		Paid Off - 360		01-Apr-2005
1103404302 1					630,008.94			03-Jun-2005		6.625%		IL - 80.00%		Paid Off - 360		01-Apr-2005
1103404315 1			215,000.00		214,339.15			23-Jun-2005		5.875%		NV - 64.56%		Paid Off - 360		01-Apr-2005
1103404315 1					214,339.15			23-Jun-2005		5.875%		NV - 64.56%		Paid Off - 360		01-Apr-2005
1103404319 1			385,300.00		384,436.77			02-Jun-2005		7.500%		VA - 89.99%		Paid Off - 360		01-Apr-2005
1103404319 1					384,436.77			02-Jun-2005		7.500%		VA - 89.99%		Paid Off - 360		01-Apr-2005
1103404328 1			386,950.00		386,060.04			27-Jun-2005		7.375%		VA - 90.00%		Paid Off - 360		01-Apr-2005
1103404328 1					386,060.04			27-Jun-2005		7.375%		VA - 90.00%		Paid Off - 360		01-Apr-2005
1103404357 1			238,500.00		237,849.65			20-Jun-2005		6.500%		NJ - 90.00%		Paid Off - 360		01-Apr-2005
1103404357 1					237,849.65			20-Jun-2005		6.500%		NJ - 90.00%		Paid Off - 360		01-Apr-2005
1103404383 1			210,000.00		209,363.64			15-Jun-2005		5.950%		CA - 48.28%		Paid Off - 360		01-Apr-2005
1103404383 1					209,363.64			15-Jun-2005		5.950%		CA - 48.28%		Paid Off - 360		01-Apr-2005
1103404445 1			500,000.00		498,763.26			23-Jun-2005		7.000%		FL - 89.61%		Paid Off - 360		01-Apr-2005
1103404445 1					498,763.26			23-Jun-2005		7.000%		FL - 89.61%		Paid Off - 360		01-Apr-2005
1103404458 1			116,000.00		115,646.95			01-Jun-2005		6.950%		IL - 82.86%		Paid Off - 360		01-Apr-2005
1103404458 1					115,646.95			01-Jun-2005		6.950%		IL - 82.86%		Paid Off - 360		01-Apr-2005
1103404548 1			475,000.00		473,654.44			07-Jun-2005		6.950%		CA - 82.61%		Paid Off - 360		01-Apr-2005
1103404548 1					473,654.44			07-Jun-2005		6.950%		CA - 82.61%		Paid Off - 360		01-Apr-2005
1103404596 1			82,350.00		82,174.49			13-Jun-2005		7.750%		TN - 90.00%		Paid Off - 360		01-Apr-2005
1103404596 1					82,174.49			13-Jun-2005		7.750%		TN - 90.00%		Paid Off - 360		01-Apr-2005
1103412167 1			395,500.00		395,500.00			09-Jun-2005		5.500%		HI - 70.00%		Paid Off - 360		01-May-2005
1103412167 1					395,500.00			09-Jun-2005		5.500%		HI - 70.00%		Paid Off - 360		01-May-2005
2500025390 1			41,800.00		41,446.06			15-Jun-2005		11.990%		CA - 20.00%		Paid Off - 180		01-May-2003
2500025390 1					41,446.06			15-Jun-2005		11.990%		CA - 20.00%		Paid Off - 180		01-May-2003
2503100816 1			227,500.00		227,500.00			10-Jun-2005		6.250%		FL - 70.00%		Paid Off - 360		01-Jun-2005
2503100816 1					227,500.00			10-Jun-2005		6.250%		FL - 70.00%		Paid Off - 360		01-Jun-2005
2503101838 1			539,000.00		537,545.26			08-Jun-2005		4.375%		WA - 70.00%		Paid Off - 360		01-May-2005
2503101838 1					537,545.26			08-Jun-2005		4.375%		WA - 70.00%		Paid Off - 360		01-May-2005
2503102091 1			348,000.00		347,608.38			20-Jun-2005		8.875%		CA - 74.92%		Paid Off - 360		01-May-2005
2503102091 1					347,608.38			20-Jun-2005		8.875%		CA - 74.92%		Paid Off - 360		01-May-2005
2503102331 1			550,000.00		549,095.71			28-Jun-2005		7.000%		NC - 67.08%		Paid Off - 360		01-May-2005
2503102331 1					549,095.71			28-Jun-2005		7.000%		NC - 67.08%		Paid Off - 360		01-May-2005
2503102582 1			195,450.00		195,450.00			10-Jun-2005		5.500%		FL - 70.00%		Paid Off - 360		01-May-2005
2503102582 1					195,450.00			10-Jun-2005		5.500%		FL - 70.00%		Paid Off - 360		01-May-2005
2503102911 1			330,000.00		330,000.00			23-Jun-2005		6.750%		CA - 70.97%		Paid Off - 360		01-Jun-2005
2503102911 1					330,000.00			23-Jun-2005		6.750%		CA - 70.97%		Paid Off - 360		01-Jun-2005
2503103012 1			296,800.00		296,800.00			21-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-Jun-2005
2503103012 1					296,800.00			21-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-Jun-2005
2503103705 1			206,750.00		206,750.00			27-Jun-2005		11.375%		FL - 89.99%		Paid Off - 360		01-Jun-2005
2503103705 1					206,750.00			27-Jun-2005		11.375%		FL - 89.99%		Paid Off - 360		01-Jun-2005
2503104319 1			125,900.00		125,900.00			07-Jun-2005		6.125%		FL - 69.99%		Paid Off - 360		01-Jun-2005
2503104319 1					125,900.00			07-Jun-2005		6.125%		FL - 69.99%		Paid Off - 360		01-Jun-2005
2503104477 1			465,600.00		464,906.76			22-Jun-2005		7.500%		CA - 80.00%		Paid Off - 360		01-May-2005
2503104477 1					464,906.76			22-Jun-2005		7.500%		CA - 80.00%		Paid Off - 360		01-May-2005
2503106186 1			260,000.00		260,000.00			28-Jun-2005		6.625%		FL - 80.00%		Paid Off - 360		01-Jun-2005
2503106186 1					260,000.00			28-Jun-2005		6.625%		FL - 80.00%		Paid Off - 360		01-Jun-2005
3900010698 1			37,900.00		25,798.31			21-Jun-2005		12.380%		FL - 37.90%		Paid Off - 180		01-May-1997
3900010698 1					25,798.31			21-Jun-2005		12.380%		FL - 37.90%		Paid Off - 180		01-May-1997
3900010840 1			150,000.00		140,354.45			28-Jun-2005		5.625%		IL - 68.81%		Paid Off - 360		01-Dec-2001
3900010840 1					140,354.45			28-Jun-2005		5.625%		IL - 68.81%		Paid Off - 360		01-Dec-2001
3900010851 1			308,000.00		293,172.84			28-Jun-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Jan-2002
3900010851 1					293,172.84			28-Jun-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Jan-2002
3900010852 1			571,000.00		534,564.17			01-Jun-2005		4.750%		NY - 43.93%		Paid Off - 360		01-Mar-2002
3900010852 1					534,564.17			01-Jun-2005		4.750%		NY - 43.93%		Paid Off - 360		01-Mar-2002
3900010883 1			252,000.00		237,682.02			16-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900010883 1					237,682.02			16-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900010896 1			550,000.00		519,644.16			28-Jun-2005		5.750%		MI - 75.35%		Paid Off - 360		01-Sep-2001
3900010896 1					519,644.16			28-Jun-2005		5.750%		MI - 75.35%		Paid Off - 360		01-Sep-2001
3900010952 1			151,000.00		142,152.84			01-Jun-2005		5.250%		CA - 72.60%		Paid Off - 360		01-Mar-2002
3900010952 1					142,152.84			01-Jun-2005		5.250%		CA - 72.60%		Paid Off - 360		01-Mar-2002
3900010957 1			148,000.00		140,772.25			23-Jun-2005		5.375%		CA - 83.15%		Paid Off - 360		01-Feb-2002
3900010957 1					140,772.25			23-Jun-2005		5.375%		CA - 83.15%		Paid Off - 360		01-Feb-2002
3900010973 1			369,250.00		338,697.91			20-Jun-2005		6.000%		CA - 95.00%		Paid Off - 360		01-Feb-2002
3900010973 1					338,697.91			20-Jun-2005		6.000%		CA - 95.00%		Paid Off - 360		01-Feb-2002
3900010983 1			156,750.00		149,091.10			09-Jun-2005		5.625%		CA - 95.00%		Paid Off - 360		01-Feb-2002
3900010983 1					149,091.10			09-Jun-2005		5.625%		CA - 95.00%		Paid Off - 360		01-Feb-2002
3900010989 1			148,800.00		140,047.42			13-Jun-2005		5.125%		NY - 80.00%		Paid Off - 360		01-Feb-2002
3900010989 1					140,047.42			13-Jun-2005		5.125%		NY - 80.00%		Paid Off - 360		01-Feb-2002
3900010992 1			124,600.00		116,885.26			24-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-Feb-2002
3900010992 1					116,885.26			24-Jun-2005		5.000%		CA - 70.00%		Paid Off - 360		01-Feb-2002
3900010996 1			251,200.00		241,040.62			01-Jun-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900010996 1					241,040.62			01-Jun-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900011057 1			72,000.00		69,424.32			28-Jun-2005		5.500%		VA - 90.00%		Paid Off - 360		01-Mar-2002
3900011057 1					69,424.32					5.500%		VA - 90.00%		Paid Off - 360


Page 23 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

3900011083 1			400,500.00		377,541.27			10-Jun-2005		5.750%		CA - 90.00%		Paid Off - 360		01-Mar-2002
			400,500.00

3900011102 1			185,250.00		175,445.62			29-Jun-2005		5.500%		CA - 95.00%		Paid Off - 360		01-Apr-2002
3900011102 1					175,445.62			29-Jun-2005		5.500%		CA - 95.00%		Paid Off - 360		01-Apr-2002
3900011132 1			200,000.00		188,175.04			30-Jun-2005		5.125%		FL - 100.00%		Paid Off - 360		01-Feb-2002
3900011132 1					188,175.04			30-Jun-2005		5.125%		FL - 100.00%		Paid Off - 360		01-Feb-2002
3900011137 1			102,000.00		95,900.68			30-Jun-2005		6.250%		MI - 80.00%		Paid Off - 360		01-Jan-2002
3900011137 1					95,900.68			30-Jun-2005		6.250%		MI - 80.00%		Paid Off - 360		01-Jan-2002
3900011141 1			299,250.00		286,651.12			22-Jun-2005		5.375%		CA - 75.00%		Paid Off - 360		01-Feb-2002
3900011141 1					286,651.12			22-Jun-2005		5.375%		CA - 75.00%		Paid Off - 360		01-Feb-2002
3900011152 1			203,200.00		193,953.69			01-Jun-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011152 1					193,953.69			01-Jun-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011159 1			316,000.00		298,536.48			07-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011159 1					298,536.48			07-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011161 1			184,800.00		173,085.25			30-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900011161 1					173,085.25			30-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Feb-2002
3900011203 1			294,400.00		284,165.02			10-Jun-2005		6.500%		MD - 80.00%		Paid Off - 360		01-Feb-2002
3900011203 1					284,165.02			10-Jun-2005		6.500%		MD - 80.00%		Paid Off - 360		01-Feb-2002
3900011229 1			188,800.00		177,046.92			03-Jun-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011229 1					177,046.92			03-Jun-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Mar-2002
3900011231 1			132,450.00		126,092.60			10-Jun-2005		5.500%		CA - 79.99%		Paid Off - 360		01-Mar-2002
3900011231 1					126,092.60			10-Jun-2005		5.500%		CA - 79.99%		Paid Off - 360		01-Mar-2002
3900011260 1			320,000.00		306,900.78			22-Jun-2005		5.750%		FL - 80.00%		Paid Off - 360		01-Apr-2002
3900011260 1					306,900.78			22-Jun-2005		5.750%		FL - 80.00%		Paid Off - 360		01-Apr-2002
3900011321 1			150,000.00		143,589.86			08-Jun-2005		6.000%		CA - 12.15%		Paid Off - 360		01-Jul-2002
3900011321 1					143,589.86			08-Jun-2005		6.000%		CA - 12.15%		Paid Off - 360		01-Jul-2002
3900011327 1			290,400.00		275,954.65			21-Jun-2005		4.875%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900011327 1					275,954.65			21-Jun-2005		4.875%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900011350 1			161,910.00		156,914.04			23-Jun-2005		6.000%		LA - 90.00%		Paid Off - 360		01-Aug-2002
3900011350 1					156,914.04			23-Jun-2005		6.000%		LA - 90.00%		Paid Off - 360		01-Aug-2002
3900011382 1			183,350.00		167,487.51			23-Jun-2005		5.125%		CA - 95.00%		Paid Off - 360		01-Aug-2002
3900011382 1					167,487.51			23-Jun-2005		5.125%		CA - 95.00%		Paid Off - 360		01-Aug-2002
3900011394 1			288,025.60		273,551.69			02-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900011394 1					273,551.69			02-Jun-2005		5.125%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900011417 1			127,800.00		124,409.37			13-Jun-2005		6.250%		MI - 90.00%		Paid Off - 360		01-Apr-2002
3900011417 1					124,409.37			13-Jun-2005		6.250%		MI - 90.00%		Paid Off - 360		01-Apr-2002
3900011442 1			434,500.00		414,373.24			22-Jun-2005		5.375%		CA - 68.11%		Paid Off - 360		01-Aug-2002
3900011442 1					414,373.24			22-Jun-2005		5.375%		CA - 68.11%		Paid Off - 360		01-Aug-2002
3900011549 1			151,350.00		144,865.52			08-Jun-2005		5.250%		WA - 80.00%		Paid Off - 360		01-Sep-2002
3900011549 1					144,865.52			08-Jun-2005		5.250%		WA - 80.00%		Paid Off - 360		01-Sep-2002
3900011557 1			336,000.00		336,000.00			20-Jun-2005		5.000%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011557 1					336,000.00			20-Jun-2005		5.000%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011570 1			385,000.00		365,733.49			08-Jun-2005		5.750%		VA - 74.04%		Paid Off - 360		01-Sep-2002
3900011570 1					365,733.49			08-Jun-2005		5.750%		VA - 74.04%		Paid Off - 360		01-Sep-2002
3900011572 1			306,000.00		306,000.00			07-Jun-2005		5.250%		CA - 77.47%		Paid Off - 360		01-Sep-2002
3900011572 1					306,000.00			07-Jun-2005		5.250%		CA - 77.47%		Paid Off - 360		01-Sep-2002
3900011574 1			280,000.00		279,799.80			30-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011574 1					279,799.80			30-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011576 1			161,950.00		154,699.02			15-Jun-2005		5.500%		VA - 88.99%		Paid Off - 360		01-Sep-2002
3900011576 1					154,699.02			15-Jun-2005		5.500%		VA - 88.99%		Paid Off - 360		01-Sep-2002
3900011590 1			239,900.00		228,119.88			27-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011590 1					228,119.88			27-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011637 1			196,000.00		186,674.21			16-Jun-2005		5.625%		CA - 70.00%		Paid Off - 360		01-Aug-2002
3900011637 1					186,674.21			16-Jun-2005		5.625%		CA - 70.00%		Paid Off - 360		01-Aug-2002
3900011688 1			247,500.00		236,744.90			28-Jun-2005		5.750%		CA - 90.00%		Paid Off - 360		01-Sep-2002
3900011688 1					236,744.90			28-Jun-2005		5.750%		CA - 90.00%		Paid Off - 360		01-Sep-2002
3900011697 1			646,750.00		616,167.83			09-Jun-2005		5.250%		MD - 64.68%		Paid Off - 360		01-Sep-2002
3900011697 1					616,167.83			09-Jun-2005		5.250%		MD - 64.68%		Paid Off - 360		01-Sep-2002
3900011730 1			288,000.00		276,403.40			27-Jun-2005		6.000%		NJ - 80.00%		Paid Off - 360		01-Oct-2002
3900011730 1					276,403.40			27-Jun-2005		6.000%		NJ - 80.00%		Paid Off - 360		01-Oct-2002
3900011736 1			140,000.00		133,450.00			03-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011736 1					133,450.00			03-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900011753 1			116,800.00		116,781.33			09-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900011753 1					116,781.33			09-Jun-2005		5.250%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900011781 1			171,050.00		163,651.38			20-Jun-2005		5.500%		FL - 94.98%		Paid Off - 360		01-Oct-2002
3900011781 1					163,651.38			20-Jun-2005		5.500%		FL - 94.98%		Paid Off - 360		01-Oct-2002
3900011782 1			375,000.00		357,871.08			02-Jun-2005		5.750%		CA - 72.82%		Paid Off - 360		01-Oct-2002
3900011782 1					357,871.08			02-Jun-2005		5.750%		CA - 72.82%		Paid Off - 360		01-Oct-2002
1103372807 1			496,000.00		492,994.41			30-Jun-2005		5.990%		MS - 80.00%		Repur/Subs - 360		24-Dec-2004
1103372807 1					492,994.41			30-Jun-2005		5.990%		MS - 80.00%		Repur/Subs - 360		24-Dec-2004
1103399789 1			432,000.00		432,000.00			30-Jun-2005		8.125%		CA - 80.00%		Repur/Subs - 360		01-Apr-2005
1103399789 1					432,000.00			30-Jun-2005		8.125%		CA - 80.00%		Repur/Subs - 360		01-Apr-2005


TOTAL			51,656,471.60		51,004,936.51
TOTAL


Page 24 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current
Current



Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00

Cumulative
Cumulative



Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00










Page 25 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		0.00%		0.00%


CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%


SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation										0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%












Page 26 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution





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 27 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 28 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
										Group 2		Group 1		Total
						Has Step_down Condition Occurred (0=No,1=Yes)								0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Current LIBOR														3.314380%
Next LIBOR														3.460000%




Page 29 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

													Next Pass Through Rate		NET WAC Shortfall Paid
CLASS

			1-A-1A										3.73%		$0.00
													3.73%		$0.00
			1-A-1B										3.63%		$0.00
													3.63%		$0.00
			1-A-2										3.80%		$0.00
													3.80%		$0.00
			1-A-IO										0.00%		$0.00
													0.00%		$0.00
			2-A-1										4.06%		$0.00
													4.06%		$0.00
			2-A-2										4.22%		$0.00
													4.22%		$0.00
			1-M-1										3.89%		$0.00
													3.89%		$0.00
			1-M-2										3.92%		$0.00
													3.92%		$0.00
			1-M-3										3.94%		$0.00
													3.94%		$0.00
			1-M-4										4.11%		$0.00
													4.11%		$0.00
			1-M-5										4.14%		$0.00
													4.14%		$0.00
			1-M-6										4.21%		$0.00
													4.21%		$0.00
			2-M-1										4.21%		$0.00
													4.21%		$0.00
			2-M-2										4.59%		$0.00
													4.59%		$0.00
			1-B-1										4.76%		$105.71
													4.76%		$105.71
			1-B-2										5.21%		#######
													5.21%		#######
			2-B-1										5.94%		$0.00
													5.94%		$0.00
			2-B-2										7.81%		$0.00
													7.81%		$0.00
			CERT										0.00%		$0.00
													0.00%		$0.00




Page 30 of 31
Impac CMB Trust 2005-4

Collateralized Asset-Backed Notes
Collateralized Asset-Backed Notes
2005-4

July 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Reference Risk ID 934099L - Lehman														441,304.91
Reference Risk ID 934131L - Lehman														140,330.61
Reference Risk ID 937613L - Lehman														0.00
Reference Risk ID 934123L - Lehman														293,929.79
Reference Risk ID 934095L - Lehman														42,452.31
Reference Risk ID 934115L - Lehman														13,086.46
Reference Risk ID 934145L - Lehman														0.00
Reference Risk ID CXIMP054B1 - Bear														33,305.38
Total Derivatives Outflow/(Inflow) Net Amount														964,409.50




Page 31 of 31

IMPAC CMB Trust Series 2005-5 8-K