

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

                   Impac CMB Trust Series 2005-5 (as Issuer under the
                      Indenture dated as June 30, 2005, providing
                    for the issuance of IMPAC CMB Trust Series 2005-5)
                  (Exact name of Registrant as specified in its Charter)


                                       California
                    (State or Other Jurisdiction of Incorporation)

               333-117817-09                         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
     October 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:  Oct 28, 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 October 25, 2005.



IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					11

				Ambac						7. Foreclosure Report					12
										8. Prepayment Report					13
										9. Prepayment Detail Report					16
										9. Prepayment Detail Report					16
										10. Realized Loss Report					20
										11. Realized Loss Detail Report					23
				Servicer(s)						11. Realized Loss Detail Report					23
				Servicer(s)						12. Triggers and Adj. Cert. Report					24
				Impac Funding Corporation						12. Triggers and Adj. Cert. Report					24
				Impac Funding Corporation						13. Additional Certificate Report					25
										13. Additional Certificate Report					25
										14. Other Related Information					26


				Underwriter(s)
				Countrywide Funding Corporation


										Total Number of Pages					26
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			June 01, 2005			Marion Hogan
				Close Date:			June 30, 2005			Administrator
				First Distribution Date:			July 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:			October 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			September 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							October 24, 2005
							October 24, 2005

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






Page 1 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - Impac CMB Trust
					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)

A-1	STEP. FLT,	$	926,091,000.00		863,891,043.48		2,888,035.75		23,224,312.45		26,112,348.20		0.00		0.00		840,666,731.03
A-1	STEP. FLT,	$	926,091,000.00		863,891,043.48		2,888,035.75		23,224,312.45		26,112,348.20		0.00		0.00		840,666,731.03
A-2	STEP. FLT,	$	110,000,000.00		102,611,962.31		334,771.53		2,758,556.52		3,093,328.05		0.00		0.00		99,853,405.79
A-3W	STEP. FLT,	$	150,000,000.00		139,925,403.15		459,888.16		3,761,667.99		4,221,556.15		0.00		0.00		136,163,735.16
A-4	STEP. FLT,	$	131,788,000.00		122,936,593.53		416,925.80		3,304,951.34		3,721,877.14		0.00		0.00		119,631,642.19
A-IO	IO,NTL	$	0.00		0.00		1,320,364.05		0.00		1,320,364.05		0.00		0.00		0.00
M-1	MEZ, STEP,	$	114,491,000.00		106,801,328.87		373,389.31		2,871,180.86		3,244,570.17		0.00		0.00		103,930,148.01
M-2	MEZ, STEP,	$	75,778,000.00		70,688,448.00		248,842.97		1,900,344.51		2,149,187.48		0.00		0.00		68,788,103.49
M-3	MEZ, STEP,	$	51,891,000.00		48,405,793.96		171,961.58		1,301,311.42		1,473,273.00		0.00		0.00		47,104,482.54
M-4	MEZ, STEP,	$	20,592,000.00		19,208,959.33		70,096.69		516,401.78		586,498.47		0.00		0.00		18,692,557.55
M-5	MEZ, STEP,	$	21,416,000.00		19,977,616.22		74,189.10		537,065.88		611,254.98		0.00		0.00		19,440,550.34
M-6	MEZ, STEP,	$	18,945,000.00		17,672,578.42		66,340.90		475,098.67		541,439.57		0.00		0.00		17,197,479.75
B	SUB, STEP,	$	26,356,000.00		24,585,826.18		107,542.50		660,950.15		768,492.65		0.00		0.00		23,924,876.03
CERT	R	$	0.00		0.00		541,103.62		0.00		541,103.62		0.00		0.00		0.00


Total			1,647,348,000.00		1,536,705,553.45		7,073,451.96		41,311,841.57		48,385,293.53		0.00		0.00		1,495,393,711.88
Total




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)
A-1	09/26/05		10/24/05		A-Act/360		45254NPU5		926,091,000.00		932.836021		3.118523		25.077787		28.196309	907.758234
A-2	09/26/05		10/24/05		A-Act/360		45254NPV3		110,000,000.00		932.836021		3.043378		25.077787		28.121164	907.758234
A-3W	09/26/05		10/24/05		A-Act/360		45254NPW1		150,000,000.00		932.836021		3.065921		25.077787		28.143708	907.758234
A-4	09/26/05		10/24/05		A-Act/360		45254NQF7		131,788,000.00		932.836021		3.163610		25.077787		28.241396	907.758234
A-IO	09/01/05		09/30/05		A-30/360		45254NPX9		1,647,348,802.00		801.508488		0.801508		0.000000		0.801508	734.100891
M-1	09/26/05		10/24/05		A-Act/360		45254NPY7		114,491,000.00		932.836021		3.261298		25.077787		28.339085	907.758234
M-2	09/26/05		10/24/05		A-Act/360		45254NPZ4		75,778,000.00		932.836021		3.283842		25.077787		28.361628	907.758234
M-3	09/26/05		10/24/05		A-Act/360		45254NQA8		51,891,000.00		932.836021		3.313900		25.077787		28.391686	907.758234
M-4	09/26/05		10/24/05		A-Act/360		45254NQB6		20,592,000.00		932.836020		3.404074		25.077787		28.481860	907.758234
M-5	09/26/05		10/24/05		A-Act/360		45254NQC4		21,416,000.00		932.836021		3.464190		25.077787		28.541977	907.758234
M-6	09/26/05		10/24/05		A-Act/360		45254NQD2		18,945,000.00		932.836021		3.501763		25.077787		28.579550	907.758234
B	09/26/05		10/24/05		A-Act/360		45254NQE0		26,356,000.00		932.836021		4.080380		25.077787		29.158167	907.758235
CERT	09/26/05		10/24/05		A-Act/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution

Distribution to Date - Impac CMB Trust
																	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)
A-1	926,091,000.00		11,356,770.49		84,292,440.11		256,549.30		85,424,268.97		96,781,039.46		0.00		0.00		840,666,731.03
A-2	110,000,000.00		1,314,255.11		10,012,156.91		30,472.62		10,146,594.21		11,460,849.32		0.00		0.00		99,853,405.79
A-3W	150,000,000.00		1,806,356.91		13,652,941.25		41,553.58		13,836,264.84		15,642,621.75		0.00		0.00		136,163,735.16
A-4	131,788,000.00		1,641,068.61		11,995,292.15		36,508.42		12,156,357.81		13,797,426.42		0.00		0.00		119,631,642.19
A-IO	0.00		4,645,261.57		0.00		0.00		0.00		4,645,261.57		0.00		0.00		0.00
M-1	114,491,000.00		1,472,617.01		10,420,925.98		31,716.74		10,560,851.99		12,033,469.00		0.00		0.00		103,930,148.01
M-2	75,778,000.00		981,848.02		6,897,283.88		20,992.31		6,989,896.51		7,971,744.53		0.00		0.00		68,788,103.49
M-3	51,891,000.00		678,892.10		4,723,098.50		14,375.04		4,786,517.46		5,465,409.56		0.00		0.00		47,104,482.54
M-4	20,592,000.00		277,198.46		1,874,275.79		5,704.48		1,899,442.45		2,176,640.91		0.00		0.00		18,692,557.55
M-5	21,416,000.00		293,693.58		1,949,275.94		5,932.74		1,975,449.66		2,269,143.24		0.00		0.00		19,440,550.34
M-6	18,945,000.00		262,794.09		1,724,366.48		5,248.22		1,747,520.25		2,010,314.34		0.00		0.00		17,197,479.75
B	26,356,000.00		429,593.14		2,398,912.79		7,301.24		2,431,123.97		2,860,717.11		0.00		0.00		23,924,876.03
CERT	0.00		3,308,880.41		0.00		0.00		0.00		3,308,880.41		0.00		0.00		0.00


Total	1,647,348,000.00		28,469,229.50		149,940,969.78		456,354.69		151,954,288.12		180,423,517.62		0.00		0.00		1,495,393,711.88


Interest Detail - Impac CMB Trust
	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)
A-1	4.15000%		863,891,043.48		2,888,035.75		0.00		0.00		0.00		2,888,035.75		2,888,035.75		0.00
A-2	4.05000%		102,611,962.31		334,771.53		0.00		0.00		0.00		334,771.53		334,771.53		0.00
A-3W	4.08000%		139,925,403.15		459,888.16		0.00		0.00		0.00		459,888.16		459,888.16		0.00
A-4	4.21000%		122,936,593.53		416,925.80		0.00		0.00		0.00		416,925.80		416,925.80		0.00
A-IO	1.20000%		1,320,364,047.00		1,320,364.05		0.00		0.00		0.00		1,320,364.05		1,320,364.05		0.00
M-1	4.34000%		106,801,328.87		373,389.31		0.00		0.00		0.00		373,389.31		373,389.31		0.00
M-2	4.37000%		70,688,448.00		248,842.97		0.00		0.00		0.00		248,842.97		248,842.97		0.00
M-3	4.41000%		48,405,793.96		171,961.58		0.00		0.00		0.00		171,961.58		171,961.58		0.00
M-4	4.53000%		19,208,959.33		70,096.69		0.00		0.00		0.00		70,096.69		70,096.69		0.00
M-5	4.61000%		19,977,616.22		74,189.10		0.00		0.00		0.00		74,189.10		74,189.10		0.00
M-6	4.66000%		17,672,578.42		66,340.90		0.00		0.00		0.00		66,340.90		66,340.90		0.00
B	5.43000%		24,585,826.18		107,542.50		0.00		0.00		0.00		107,542.50		107,542.50		0.00
CERT	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		541,103.62		0.00


Total			2,857,069,600.45		6,532,348.34		0.00		0.00		0.00		6,532,348.34		7,073,451.96		0.00



Page 3 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
														Total
Principal Collections														41,311,841.57
Principal Withrawals														0.00
Principal Other Accounts														0.00
TOTAL NET PRINCIPAL														41,311,841.57
Interest Collections														7,538,964.39
Interest Withdrawals														-0.00
Interest Other Accounts														(96,510.03)
Interest Fees														-369,002.40
TOTAL NET INTEREST														7,073,451.96
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION														48,385,293.53



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
															Total
Scheduled Principal Received															456,354.69
Curtailments															803,640.99
Prepayments In Full															40,051,845.89
Repurchased/Substitutions															0.00
Liquidations															0.00
Insurance Principal															0.00
Other Additional Principal															0.00
Delinquent Principal															-143,495.21
Realized Losses															-0.00
Advanced Principal															143,495.21
TOTAL PRINCIPAL COLLECTED															41,311,841.57


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
														Total
Closing Deposit
TOTAL PRINCIPAL OTHER ACCOUNTS														0.00





Page 4 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
														Total
Scheduled Interest														7,703,459.35
Repurchased/Substitution Interest														0.00
Liquidation Interest														0.00
Insurance Interest														0.00
Other Additional Interest														0.00
Prepayment Interest Shortfalls														-86,285.24
Delinquent Interest														-2,482,990.10
Compensating Interest														86,285.24
Civil Relief Act Shortfalls														-0.00
Interest Advanced														2,318,495.14
TOTAL INTEREST COLLECTED														7,538,964.39


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
														Total
TOTAL INTEREST WITHDRAWALS														0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
														Total
Prepayment Charges														181,368.19
Deriviative Contract Payments														277,878.22

TOTAL INTEREST OTHER ACCOUNTS														-96,510.03



INTEREST - FEES
INTEREST - FEES
														Total
Current Servicing Fees														354,110.42
Owner Trustee Fees														2,177.00
Indenture Trustee Fees														0.00
PMI														5,718.71
A-3W Certificate Insurance Fees														6,996.27
TOTAL INTEREST FEES														369,002.40



Page 5 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS


SPACE INTENTIONALLY LEFT BLANK





INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
														Total
Overcollateralized Amount/(Undercollateralized Amount)														0.00
Overcollateralization Release Amount														0.00
Overcollateralization Deficiency Amount														0.00
Overcollateralization Target Amount														0.00



Page 6 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Collateral Report


COLLATERAL



															Total



Loan Count:


Original														5,950
Prior														5,555
Prefunding														0
Scheduled Paid Offs														-0
Full Voluntary Prepayments														-140
Repurchases														-0
Liquidations														-0
Current														5,415
Principal Balance:


Original														1,647,348,913.29
Prior														1,536,705,553.45
Prefunding														0.00
Scheduled Principal														-456,354.69
Partial Prepayments														-803,640.99
Full Voluntary Prepayments														-40,051,845.89
Repurchases														-0.00
Liquidations														-0.00
Current														1,495,393,711.88





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
														Total
Weighted Average Coupon Original														5.93727%
Weighted Average Coupon Prior														5.97665%
Weighted Average Coupon Current														6.01556%
Weighted Average Months to Maturity Original														350
Weighted Average Months to Maturity Prior														349
Weighted Average Months to Maturity Current														348
Weighted Avg Remaining Amortization Term Original														350
Weighted Avg Remaining Amortization Term Prior														349
Weighted Avg Remaining Amortization Term Current														348
Weighted Average Seasoning Original														9.71
Weighted Average Seasoning Prior														11.03
Weighted Average Seasoning Current														11.70









Page 8 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
														Total
Weighted Average Margin Original														3.30005%
Weighted Average Margin Prior														3.31187%
Weighted Average Margin Current														3.31811%
Weighted Average Max Rate Original														11.91024%
Weighted Average Max Rate Prior														11.90571%
Weighted Average Max Rate Current														11.89865%
Weighted Average Min Rate Original														3.45523%
Weighted Average Min Rate Prior														3.46839%
Weighted Average Min Rate Current														3.47350%
Weighted Average Cap Up Original														1.24854%
Weighted Average Cap Up Prior														1.25186%
Weighted Average Cap Up Current														1.25489%
Weighted Average Cap Down Original														1.24854%
Weighted Average Cap Down Prior														1.25186%
Weighted Average Cap Down Current														1.25489%




SERVICING FEES & ADVANCES

															Total




Current Servicing Fees														354,110.42
Delinquent Servicing Fees														164,494.96
TOTAL SERVICING FEES														518,605.40


Total Servicing Fees														518,605.40
Compensating Interest														-86,285.24
Delinquent Servicing Fees														-164,494.96
COLLECTED SERVICING FEES														267,825.20


Total Advaced Interest														2,318,495.14
Total Advaced Principal														143,495.21
Aggregate Advances with respect to this Distribution														2,461,990.35





ADDITIONAL COLLATERAL INFORMATION
														Total
Prepayment Interest Shortfall (PPIS)														86,285.24
Compensating Interest														-86,285.24
Net Prepayment Interest Shortfall (PPIS)														0.00






Page 9 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				14,601,731.53		4,412,652.15		872,990.75		19,887,374.43
			% Balance				0.98%		0.30%		0.06%		1.33%
			# Loans				52		15		3		70
			% # Loans				0.96%		0.28%		0.06%		1.29%
	FORECLOSURE		Balance		0.00		0.00		597,322.74		1,896,394.63		2,493,717.37
			% Balance		0.00%		0.00%		0.04%		0.13%		0.17%
			# Loans		0		0		2		6		8
			% # Loans		0.00%		0.00%		0.04%		0.11%		0.15%
	BANKRUPTCY		Balance		1,252,864.31		212,612.93		0.00		0.00		1,465,477.24
			% Balance		0.08%		0.01%		0.00%		0.00%		0.10%
			# Loans		7		1		0		0		8
			% # Loans		0.13%		0.02%		0.00%		0.00%		0.15%
	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		1,252,864.31		14,814,344.46		5,009,974.89		2,769,385.38		23,846,569.04
			% Balance		0.08%		0.99%		0.34%		0.19%		1.59%
			# Loans		7		53		17		9		86
			% # Loans		0.13%		0.98%		0.31%		0.17%		1.59%









Page 10 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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 11 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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
1103409509 1
1103409509 1			256,000.00		252,545.04		01-Jun-2005		5.000%		CO - 80.00%		360		01-Dec-2004

1103415543 1			559,200.00		559,200.00		01-May-2005		6.250%		CA - 80.00%		360		01-May-2005
3900012143 1			129,600.00		121,792.43		01-May-2005		6.000%		MI - 83.62%		360		01-May-2002
3900012916 1			413,100.00		396,471.30		01-May-2005		7.250%		FL - 89.83%		360		01-Jul-2002
3900013065 1			364,800.00		344,777.70		01-Jun-2005		5.625%		TX - 95.00%		360		01-Jun-2002
3900013119 1			121,850.00		116,944.63		01-May-2005		6.000%		IL - 90.00%		360		01-Jun-2002
3900013274 1			584,000.00		552,095.13		01-May-2005		6.250%		NC - 80.00%		360		01-Aug-2002
3900013454 1			158,000.00		149,891.14		01-May-2005		9.875%		NC - 87.78%		360		01-Jun-1999


TOTAL			2,586,550.00		2,493,717.37


Page 12 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

															Total




Current


Number of Paid in Full Loans														140
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														140
Curtailments Amount														803,640.99
Paid in Full Balance														40,051,845.89
Repurchased Loans Balance														0.00
Total Prepayment Amount														40,855,486.88

Cumulative


Number of Paid in Full Loans														535
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														535
Paid in Full Balance														147,589,878.41
Repurchased Loans Balance														0.00
Curtailments Amount														2,352,004.65
Total Prepayment Amount														149,941,883.06










Page 13 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

															Total



SMM														2.66%
3 Months Avg SMM														2.81%
12 Months Avg SMM														2.36%
Avg SMM Since Cut-off														2.36%


CPR														27.64%
3 Months Avg CPR														28.94%
12 Months Avg CPR														24.92%
Avg CPR Since Cut-off														24.92%


PSA														1,181.01%
3 Months Avg PSA Approximation														1,309.89%
12 Months Avg PSA Approximation														1,162.90%
Avg PSA Since Cut-off Approximation														1,162.90%










Page 14 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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 15 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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

1103345843 1			492,000.00		487,354.71			28-Sep-2005		6.400%		CA - 80.00%		Paid Off - 360		01-Dec-2004
			492,000.00

1103364956 1			272,100.00		272,100.00			23-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103364956 1					272,100.00			23-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103387983 1			81,200.00		81,029.59			26-Sep-2005		7.875%		MD - 70.00%		Paid Off - 360		01-Jul-2005
1103387983 1					81,029.59			26-Sep-2005		7.875%		MD - 70.00%		Paid Off - 360		01-Jul-2005
1103390159 1			840,000.00		840,000.00			16-Sep-2005		6.375%		CA - 70.00%		Paid Off - 360		01-May-2005
1103390159 1					840,000.00			16-Sep-2005		6.375%		CA - 70.00%		Paid Off - 360		01-May-2005
1103409352 1			999,900.00		999,900.00			21-Sep-2005		6.625%		CA - 72.90%		Paid Off - 360		01-Feb-2005
1103409352 1					999,900.00			21-Sep-2005		6.625%		CA - 72.90%		Paid Off - 360		01-Feb-2005
1103409420 1			500,000.00		500,000.00			01-Sep-2005		4.875%		CA - 76.92%		Paid Off - 360		01-Oct-2004
1103409420 1					500,000.00			01-Sep-2005		4.875%		CA - 76.92%		Paid Off - 360		01-Oct-2004
1103409465 1			388,800.00		388,800.00			14-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004
1103409465 1					388,800.00			14-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004
1103409593 1			116,000.00		114,712.64			26-Sep-2005		5.790%		MD - 80.00%		Paid Off - 360		02-Dec-2004
1103409593 1					114,712.64			26-Sep-2005		5.790%		MD - 80.00%		Paid Off - 360		02-Dec-2004
1103409604 1			120,000.00		118,961.48			19-Sep-2005		6.290%		MI - 80.00%		Paid Off - 360		08-Dec-2004
1103409604 1					118,961.48			19-Sep-2005		6.290%		MI - 80.00%		Paid Off - 360		08-Dec-2004
1103409636 1			230,400.00		228,406.10			08-Sep-2005		6.290%		AZ - 80.00%		Paid Off - 360		01-Jan-2005
1103409636 1					228,406.10			08-Sep-2005		6.290%		AZ - 80.00%		Paid Off - 360		01-Jan-2005
1103409683 1			240,000.00		240,000.00			01-Sep-2005		5.640%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1103409683 1					240,000.00			01-Sep-2005		5.640%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1103409931 1			277,200.00		274,539.80			02-Sep-2005		5.740%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1103409931 1					274,539.80			02-Sep-2005		5.740%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1103410050 1			104,800.00		103,405.67			27-Sep-2005		5.700%		TX - 80.00%		Paid Off - 360		01-Oct-2004
1103410050 1					103,405.67			27-Sep-2005		5.700%		TX - 80.00%		Paid Off - 360		01-Oct-2004
1103410068 1			100,000.00		98,672.58			01-Sep-2005		5.650%		FL - 71.42%		Paid Off - 360		01-Oct-2004
1103410068 1					98,672.58			01-Sep-2005		5.650%		FL - 71.42%		Paid Off - 360		01-Oct-2004
1103410153 1			400,000.00		400,000.00			14-Sep-2005		6.875%		IL - 79.82%		Paid Off - 360		01-Mar-2005
1103410153 1					400,000.00			14-Sep-2005		6.875%		IL - 79.82%		Paid Off - 360		01-Mar-2005
1103410179 1			397,000.00		396,952.46			20-Sep-2005		6.875%		CA - 77.84%		Paid Off - 360		01-Sep-2004
1103410179 1					396,952.46			20-Sep-2005		6.875%		CA - 77.84%		Paid Off - 360		01-Sep-2004
1103410183 1			461,340.00		461,340.00			09-Sep-2005		7.125%		MD - 69.90%		Paid Off - 360		01-Sep-2004
1103410183 1					461,340.00			09-Sep-2005		7.125%		MD - 69.90%		Paid Off - 360		01-Sep-2004
1103410238 1			366,900.00		361,107.06			02-Sep-2005		5.500%		CA - 79.99%		Paid Off - 360		01-Aug-2004
1103410238 1					361,107.06			02-Sep-2005		5.500%		CA - 79.99%		Paid Off - 360		01-Aug-2004
1103410258 1			126,700.00		126,700.00			07-Sep-2005		7.000%		FL - 79.98%		Paid Off - 360		01-Dec-2004
1103410258 1					126,700.00			07-Sep-2005		7.000%		FL - 79.98%		Paid Off - 360		01-Dec-2004
1103410361 1			110,400.00		110,400.00			01-Sep-2005		6.375%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
1103410361 1					110,400.00			01-Sep-2005		6.375%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
1103410387 1			390,400.00		390,400.00			23-Sep-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1103410387 1					390,400.00			23-Sep-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1103410418 1			362,000.00		361,758.62			02-Sep-2005		5.375%		CA - 74.02%		Paid Off - 360		01-Jan-2005
1103410418 1					361,758.62			02-Sep-2005		5.375%		CA - 74.02%		Paid Off - 360		01-Jan-2005
1103410662 1			301,000.00		301,000.00			19-Sep-2005		7.375%		VA - 70.00%		Paid Off - 360		01-Jul-2005
1103410662 1					301,000.00			19-Sep-2005		7.375%		VA - 70.00%		Paid Off - 360		01-Jul-2005
1103412075 1			460,000.00		460,000.00			13-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103412075 1					460,000.00			13-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103415515 1			364,000.00		364,000.00			14-Sep-2005		5.625%		CA - 70.00%		Paid Off - 360		01-May-2005
1103415515 1					364,000.00			14-Sep-2005		5.625%		CA - 70.00%		Paid Off - 360		01-May-2005
1103415578 1			227,500.00		227,500.00			30-Sep-2005		5.990%		NV - 49.46%		Paid Off - 360		01-May-2005
1103415578 1					227,500.00			30-Sep-2005		5.990%		NV - 49.46%		Paid Off - 360		01-May-2005
1103415636 1			284,200.00		284,200.00			27-Sep-2005		6.250%		NV - 70.00%		Paid Off - 360		01-May-2005
1103415636 1					284,200.00			27-Sep-2005		6.250%		NV - 70.00%		Paid Off - 360		01-May-2005
1103417984 1			391,000.00		389,393.70			27-Sep-2005		5.875%		CA - 68.95%		Paid Off - 360		01-Jun-2005
1103417984 1					389,393.70			27-Sep-2005		5.875%		CA - 68.95%		Paid Off - 360		01-Jun-2005
1103418396 1			272,000.00		272,000.00			20-Sep-2005		5.750%		CA - 76.83%		Paid Off - 360		01-May-2005
1103418396 1					272,000.00			20-Sep-2005		5.750%		CA - 76.83%		Paid Off - 360		01-May-2005
1103418586 1			375,000.00		375,000.00			30-Sep-2005		5.750%		AZ - 60.00%		Paid Off - 360		01-May-2005
1103418586 1					375,000.00			30-Sep-2005		5.750%		AZ - 60.00%		Paid Off - 360		01-May-2005
1103419808 1			200,000.00		200,000.00			23-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103419808 1					200,000.00			23-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Jun-2005
1103420295 1			172,669.00		172,380.66			28-Sep-2005		6.625%		AZ - 70.00%		Paid Off - 360		01-Oct-2004
1103420295 1					172,380.66			28-Sep-2005		6.625%		AZ - 70.00%		Paid Off - 360		01-Oct-2004
1103421502 1			250,000.00		250,000.00			22-Sep-2005		5.000%		HI - 71.43%		Paid Off - 360		01-Mar-2005
1103421502 1					250,000.00			22-Sep-2005		5.000%		HI - 71.43%		Paid Off - 360		01-Mar-2005
1103423295 1			175,500.00		175,500.00			26-Sep-2005		6.500%		FL - 89.55%		Paid Off - 360		01-Jun-2005
1103423295 1					175,500.00			26-Sep-2005		6.500%		FL - 89.55%		Paid Off - 360		01-Jun-2005
1103423538 1			308,000.00		308,000.00			28-Sep-2005		7.875%		VA - 79.79%		Paid Off - 360		01-Jun-2005
1103423538 1					308,000.00			28-Sep-2005		7.875%		VA - 79.79%		Paid Off - 360		01-Jun-2005
1103423554 1			298,000.00		298,000.00			30-Sep-2005		6.250%		SC - 80.00%		Paid Off - 360		01-Jun-2005
1103423554 1					298,000.00			30-Sep-2005		6.250%		SC - 80.00%		Paid Off - 360		01-Jun-2005
1103427608 1			306,000.00		306,000.00			16-Sep-2005		8.500%		CA - 90.00%		Paid Off - 360		01-Jun-2005
1103427608 1					306,000.00					8.500%		CA - 90.00%		Paid Off - 360


Page 16 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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

1103427923 1			750,000.00		750,000.00			14-Sep-2005		6.125%		CA - 75.08%		Paid Off - 360		01-Jul-2005
			750,000.00

1103429146 1			190,900.00		190,900.00			21-Sep-2005		7.875%		VA - 79.54%		Paid Off - 360		01-Apr-2005
1103429146 1					190,900.00			21-Sep-2005		7.875%		VA - 79.54%		Paid Off - 360		01-Apr-2005
1103429192 1			381,400.00		379,086.07			21-Sep-2005		6.250%		FL - 69.99%		Paid Off - 360		01-Jul-2005
1103429192 1					379,086.07			21-Sep-2005		6.250%		FL - 69.99%		Paid Off - 360		01-Jul-2005
1103429219 1			960,000.00		960,000.00			28-Sep-2005		6.990%		HI - 80.00%		Paid Off - 360		01-Jun-2005
1103429219 1					960,000.00			28-Sep-2005		6.990%		HI - 80.00%		Paid Off - 360		01-Jun-2005
1103429280 1			520,000.00		520,000.00			16-Sep-2005		7.375%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
1103429280 1					520,000.00			16-Sep-2005		7.375%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
1103430075 1			152,000.00		152,000.00			27-Sep-2005		5.375%		MA - 80.00%		Paid Off - 360		01-Jun-2005
1103430075 1					152,000.00			27-Sep-2005		5.375%		MA - 80.00%		Paid Off - 360		01-Jun-2005
1103430087 1			223,200.00		222,563.75			27-Sep-2005		7.750%		MA - 80.00%		Paid Off - 360		01-Jun-2005
1103430087 1					222,563.75			27-Sep-2005		7.750%		MA - 80.00%		Paid Off - 360		01-Jun-2005
1103430149 1			152,100.00		151,557.66			21-Sep-2005		7.125%		AZ - 79.98%		Paid Off - 360		01-Apr-2005
1103430149 1					151,557.66			21-Sep-2005		7.125%		AZ - 79.98%		Paid Off - 360		01-Apr-2005
1103430396 1			335,300.00		334,047.83			21-Sep-2005		6.375%		FL - 70.00%		Paid Off - 360		01-Jun-2005
1103430396 1					334,047.83			21-Sep-2005		6.375%		FL - 70.00%		Paid Off - 360		01-Jun-2005
1103431319 1			1,425,000.00		1,425,000.00			27-Sep-2005		5.500%		CA - 75.00%		Paid Off - 360		01-Jul-2005
1103431319 1					1,425,000.00			27-Sep-2005		5.500%		CA - 75.00%		Paid Off - 360		01-Jul-2005
1103435823 1			846,600.00		846,600.00			30-Sep-2005		5.500%		HI - 63.88%		Paid Off - 360		01-Jul-2005
1103435823 1					846,600.00			30-Sep-2005		5.500%		HI - 63.88%		Paid Off - 360		01-Jul-2005
1103435836 1			204,000.00		202,981.70			16-Sep-2005		5.990%		CA - 26.33%		Paid Off - 360		01-Jul-2005
1103435836 1					202,981.70			16-Sep-2005		5.990%		CA - 26.33%		Paid Off - 360		01-Jul-2005
1103435882 1			127,900.00		127,900.00			29-Sep-2005		7.250%		AZ - 79.99%		Paid Off - 360		01-May-2005
1103435882 1					127,900.00			29-Sep-2005		7.250%		AZ - 79.99%		Paid Off - 360		01-May-2005
1103435924 1			624,000.00		624,000.00			28-Sep-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Jul-2005
1103435924 1					624,000.00			28-Sep-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Jul-2005
3900011840 1			140,300.00		132,233.56			01-Sep-2005		6.750%		MI - 90.00%		Paid Off - 360		01-Sep-2001
3900011840 1					132,233.56			01-Sep-2005		6.750%		MI - 90.00%		Paid Off - 360		01-Sep-2001
3900011866 1			171,600.00		165,484.38			27-Sep-2005		6.000%		CO - 88.00%		Paid Off - 360		01-Jul-2002
3900011866 1					165,484.38			27-Sep-2005		6.000%		CO - 88.00%		Paid Off - 360		01-Jul-2002
3900011879 1			245,000.00		225,394.07			01-Sep-2005		6.375%		NY - 70.00%		Paid Off - 360		01-Apr-2002
3900011879 1					225,394.07			01-Sep-2005		6.375%		NY - 70.00%		Paid Off - 360		01-Apr-2002
3900011958 1			275,000.00		263,030.04			09-Sep-2005		7.125%		CA - 75.34%		Paid Off - 360		01-Mar-2002
3900011958 1					263,030.04			09-Sep-2005		7.125%		CA - 75.34%		Paid Off - 360		01-Mar-2002
3900012021 1			124,000.00		116,643.38			14-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-May-2002
3900012021 1					116,643.38			14-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-May-2002
3900012034 1			225,600.00		211,635.16			26-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-May-2002
3900012034 1					211,635.16			26-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-May-2002
3900012080 1			206,900.00		196,289.22			19-Sep-2005		5.875%		CA - 89.96%		Paid Off - 360		01-Jun-2002
3900012080 1					196,289.22			19-Sep-2005		5.875%		CA - 89.96%		Paid Off - 360		01-Jun-2002
3900012092 1			182,750.00		173,024.57			26-Sep-2005		6.000%		UT - 85.00%		Paid Off - 360		01-May-2002
3900012092 1					173,024.57			26-Sep-2005		6.000%		UT - 85.00%		Paid Off - 360		01-May-2002
3900012099 1			197,600.00		187,903.67			20-Sep-2005		6.375%		UT - 80.00%		Paid Off - 360		01-May-2002
3900012099 1					187,903.67			20-Sep-2005		6.375%		UT - 80.00%		Paid Off - 360		01-May-2002
3900012101 1			237,600.00		223,463.76			14-Sep-2005		5.500%		AZ - 80.00%		Paid Off - 360		01-May-2002
3900012101 1					223,463.76			14-Sep-2005		5.500%		AZ - 80.00%		Paid Off - 360		01-May-2002
3900012108 1			120,000.00		114,259.72			12-Sep-2005		5.875%		TN - 64.87%		Paid Off - 360		01-Jun-2002
3900012108 1					114,259.72			12-Sep-2005		5.875%		TN - 64.87%		Paid Off - 360		01-Jun-2002
3900012142 1			107,900.00		101,769.64			30-Sep-2005		5.500%		NC - 79.99%		Paid Off - 360		01-May-2002
3900012142 1					101,769.64			30-Sep-2005		5.500%		NC - 79.99%		Paid Off - 360		01-May-2002
3900012147 1			210,000.00		198,542.63			21-Sep-2005		5.875%		CA - 70.00%		Paid Off - 360		01-Jun-2002
3900012147 1					198,542.63			21-Sep-2005		5.875%		CA - 70.00%		Paid Off - 360		01-Jun-2002
3900012149 1			253,800.00		242,301.38			01-Sep-2005		6.125%		CA - 74.98%		Paid Off - 360		01-Jun-2002
3900012149 1					242,301.38			01-Sep-2005		6.125%		CA - 74.98%		Paid Off - 360		01-Jun-2002
3900012153 1			424,000.00		397,978.53			29-Sep-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Jun-2002
3900012153 1					397,978.53			29-Sep-2005		5.625%		CA - 80.00%		Paid Off - 360		01-Jun-2002
3900012170 1			355,000.00		333,595.48			23-Sep-2005		5.625%		CA - 53.39%		Paid Off - 360		01-Jun-2002
3900012170 1					333,595.48			23-Sep-2005		5.625%		CA - 53.39%		Paid Off - 360		01-Jun-2002
3900012212 1			193,600.00		182,394.98			12-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012212 1					182,394.98			12-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012218 1			248,000.00		233,427.14			13-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012218 1					233,427.14			13-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012245 1			356,000.00		338,968.09			07-Sep-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012245 1					338,968.09			07-Sep-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012249 1			114,000.00		107,182.46			28-Sep-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2002
3900012249 1					107,182.46			28-Sep-2005		5.500%		CA - 80.00%				01-Jul-2002
3900012252 1			144,850.00		134,588.59			07-Sep-2005		5.750%		FL - 94.99%		Paid Off - 360		01-Jul-2002
3900012252 1					134,588.59			07-Sep-2005		5.750%		FL - 94.99%		Paid Off - 360		01-Jul-2002
3900012265 1			108,000.00		98,491.37			14-Sep-2005		6.125%		MD - 80.00%		Paid Off - 360		01-Jun-2002
3900012265 1					98,491.37			14-Sep-2005		6.125%		MD - 80.00%		Paid Off - 360		01-Jun-2002
3900012269 1			220,000.00		206,642.32			09-Sep-2005		5.500%		NY - 80.00%		Paid Off - 360		01-Jul-2002
3900012269 1					206,642.32			09-Sep-2005		5.500%		NY - 80.00%		Paid Off - 360		01-Jul-2002
3900012286 1			147,150.00		140,544.49			13-Sep-2005		7.000%		TX - 90.00%		Paid Off - 360		01-Jul-2002
3900012286 1					140,544.49					7.000%		TX - 90.00%		Paid Off - 360


Page 17 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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

3900012376 1			268,000.00		253,661.81			29-Sep-2005		5.750%		NJ - 88.44%		Paid Off - 360		01-Jul-2002
			268,000.00

3900012393 1			250,000.00		236,919.17			27-Sep-2005		6.250%		CA - 48.83%		Paid Off - 360		01-Sep-2002
3900012393 1					236,919.17			27-Sep-2005		6.250%		CA - 48.83%		Paid Off - 360		01-Sep-2002
3900012399 1			525,000.00		514,874.98			21-Sep-2005		6.500%		CA - 89.14%		Paid Off - 360		01-Aug-2002
3900012399 1					514,874.98			21-Sep-2005		6.500%		CA - 89.14%		Paid Off - 360		01-Aug-2002
3900012408 1			380,000.00		358,354.35			09-Sep-2005		6.125%		CA - 53.91%		Paid Off - 360		01-Oct-2002
3900012408 1					358,354.35			09-Sep-2005		6.125%		CA - 53.91%		Paid Off - 360		01-Oct-2002
3900012420 1			374,500.00		354,558.90			07-Sep-2005		6.250%		WA - 70.00%		Paid Off - 360		01-Sep-2002
3900012420 1					354,558.90			07-Sep-2005		6.250%		WA - 70.00%		Paid Off - 360		01-Sep-2002
3900012457 1			300,000.00		285,552.90			30-Sep-2005		6.500%		NJ - 63.29%		Paid Off - 360		01-Sep-2002
3900012457 1					285,552.90			30-Sep-2005		6.500%		NJ - 63.29%		Paid Off - 360		01-Sep-2002
3900012458 1			156,750.00		149,157.45			01-Sep-2005		6.500%		MD - 95.00%		Paid Off - 360		01-Sep-2002
3900012458 1					149,157.45			01-Sep-2005		6.500%		MD - 95.00%		Paid Off - 360		01-Sep-2002
3900012478 1			249,600.00		246,748.13			15-Sep-2005		5.750%		IL - 80.00%		Paid Off - 360		01-Nov-2002
3900012478 1					246,748.13			15-Sep-2005		5.750%		IL - 80.00%		Paid Off - 360		01-Nov-2002
3900012482 1			220,000.00		207,868.22			27-Sep-2005		6.250%		NJ - 51.17%		Paid Off - 360		01-Sep-2002
3900012482 1					207,868.22			27-Sep-2005		6.250%		NJ - 51.17%		Paid Off - 360		01-Sep-2002
3900012488 1			250,000.00		238,241.39			30-Sep-2005		6.375%		NJ - 53.00%		Paid Off - 360		01-Oct-2002
3900012488 1					238,241.39			30-Sep-2005		6.375%		NJ - 53.00%		Paid Off - 360		01-Oct-2002
3900012500 1			344,000.00		325,989.23			15-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012500 1					325,989.23			15-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012510 1			187,920.00		181,115.67			02-Sep-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012510 1					181,115.67			02-Sep-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012521 1			332,000.00		313,783.11			30-Sep-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900012521 1					313,783.11			30-Sep-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Sep-2002
3900012527 1			500,000.00		471,379.08			27-Sep-2005		6.250%		CA - 83.48%		Paid Off - 360		01-Sep-2002
3900012527 1					471,379.08			27-Sep-2005		6.250%		CA - 83.48%		Paid Off - 360		01-Sep-2002
3900012530 1			160,000.00		151,252.25			15-Sep-2005		6.250%		CA - 76.20%		Paid Off - 360		01-Sep-2002
3900012530 1					151,252.25			15-Sep-2005		6.250%		CA - 76.20%		Paid Off - 360		01-Sep-2002
3900012537 1			323,400.00		306,861.41			16-Sep-2005		6.375%		CA - 70.00%		Paid Off - 360		01-Sep-2002
3900012537 1					306,861.41			16-Sep-2005		6.375%		CA - 70.00%		Paid Off - 360		01-Sep-2002
3900012541 1			252,700.00		239,016.27			12-Sep-2005		6.375%		CA - 95.00%		Paid Off - 360		01-Oct-2002
3900012541 1					239,016.27			12-Sep-2005		6.375%		CA - 95.00%		Paid Off - 360		01-Oct-2002
3900012547 1			243,250.00		224,968.51			13-Sep-2005		5.750%		OH - 70.00%		Paid Off - 360		01-Sep-2002
3900012547 1					224,968.51			13-Sep-2005		5.750%		OH - 70.00%		Paid Off - 360		01-Sep-2002
3900012579 1			470,000.00		446,292.37			07-Sep-2005		6.375%		CA - 66.67%		Paid Off - 360		01-Oct-2002
3900012579 1					446,292.37			07-Sep-2005		6.375%		CA - 66.67%		Paid Off - 360		01-Oct-2002
3900012594 1			598,350.00		598,315.89			22-Sep-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012594 1					598,315.89			22-Sep-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012600 1			160,000.00		153,206.74			30-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012600 1					153,206.74			30-Sep-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012611 1			786,000.00		745,858.60			09-Sep-2005		6.000%		CA - 60.47%		Paid Off - 360		01-Aug-2002
3900012611 1					745,858.60			09-Sep-2005		6.000%		CA - 60.47%		Paid Off - 360		01-Aug-2002
3900012612 1			588,000.00		554,613.18			26-Sep-2005		6.000%		DC - 70.00%		Paid Off - 360		01-Aug-2002
3900012612 1					554,613.18			26-Sep-2005		6.000%		DC - 70.00%		Paid Off - 360		01-Aug-2002
3900012654 1			398,000.00		398,000.00			09-Sep-2005		6.375%		CO - 72.37%		Paid Off - 360		01-Oct-2002
3900012654 1					398,000.00			09-Sep-2005		6.375%		CO - 72.37%		Paid Off - 360		01-Oct-2002
3900012674 1			140,800.00		133,422.97			15-Sep-2005		5.750%		MI - 80.00%		Paid Off - 360		01-Jul-2002
3900012674 1					133,422.97			15-Sep-2005		5.750%		MI - 80.00%		Paid Off - 360		01-Jul-2002
3900012691 1			162,000.00		156,306.97			08-Sep-2005		6.250%		TX - 90.00%		Paid Off - 360		01-Aug-2002
3900012691 1					156,306.97			08-Sep-2005		6.250%		TX - 90.00%		Paid Off - 360		01-Aug-2002
3900012705 1			307,000.00		303,399.35			20-Sep-2005		6.125%		CA - 79.33%		Paid Off - 360		01-Oct-2002
3900012705 1					303,399.35			20-Sep-2005		6.125%		CA - 79.33%		Paid Off - 360		01-Oct-2002
3900012714 1			173,600.00		167,850.69			08-Sep-2005		6.125%		CO - 77.16%		Paid Off - 360		01-Oct-2002
3900012714 1					167,850.69			08-Sep-2005		6.125%		CO - 77.16%		Paid Off - 360		01-Oct-2002
3900012717 1			359,950.00		359,942.69			26-Sep-2005		7.875%		CA - 89.99%		Paid Off - 360		01-Oct-2002
3900012717 1					359,942.69			26-Sep-2005		7.875%		CA - 89.99%		Paid Off - 360		01-Oct-2002
3900012722 1			274,000.00		273,747.49			13-Sep-2005		5.000%		TX - 80.00%		Paid Off - 360		01-Nov-2002
3900012722 1					273,747.49			13-Sep-2005		5.000%		TX - 80.00%		Paid Off - 360		01-Nov-2002
3900012723 1			490,400.00		490,400.00			02-Sep-2005		5.750%		CA - 89.99%		Paid Off - 360		01-Nov-2002
3900012723 1					490,400.00			02-Sep-2005		5.750%		CA - 89.99%		Paid Off - 360		01-Nov-2002
3900012737 1			148,000.00		136,866.96			27-Sep-2005		6.125%		MN - 77.90%		Paid Off - 360		01-Oct-2002
3900012737 1					136,866.96			27-Sep-2005		6.125%		MN - 77.90%		Paid Off - 360		01-Oct-2002
3900012756 1			217,600.00		212,203.28			06-Sep-2005		5.750%		GA - 80.00%		Paid Off - 360		01-Nov-2002
3900012756 1					212,203.28			06-Sep-2005		5.750%		GA - 80.00%		Paid Off - 360		01-Nov-2002
3900012795 1			144,800.00		138,831.51			12-Sep-2005		5.875%		NC - 90.00%		Paid Off - 360		01-Nov-2002
3900012795 1					138,831.51			12-Sep-2005		5.875%		NC - 90.00%		Paid Off - 360		01-Nov-2002
3900012839 1			152,900.00		144,437.58			01-Sep-2005		7.125%		FL - 90.00%		Paid Off - 360		01-Apr-2002
3900012839 1					144,437.58			01-Sep-2005		7.125%		FL - 90.00%		Paid Off - 360		01-Apr-2002
3900012861 1			198,000.00		189,421.53			01-Sep-2005		5.250%		CA - 90.00%		Paid Off - 360		01-May-2002
3900012861 1					189,421.53			01-Sep-2005		5.250%		CA - 90.00%		Paid Off - 360		01-May-2002
3900012877 1			305,000.00		288,373.67			01-Sep-2005		5.750%		CA - 84.96%		Paid Off - 360		01-May-2002
3900012877 1					288,373.67			01-Sep-2005		5.750%		CA - 84.96%		Paid Off - 360		01-May-2002
3900012927 1			345,000.00		302,135.02			27-Sep-2005		5.250%		CA - 58.53%		Paid Off - 360		01-Jul-2002
3900012927 1					302,135.02					5.250%		CA - 58.53%		Paid Off - 360


Page 18 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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

3900012930 1			134,600.00		128,467.40			20-Sep-2005		6.375%		IA - 89.74%		Paid Off - 360		01-Apr-2002
			134,600.00

3900012970 1			424,000.00		405,337.60			02-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012970 1					405,337.60			02-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900012984 1			405,000.00		386,031.98			19-Sep-2005		5.875%		CA - 56.73%		Paid Off - 360		01-Nov-2002
3900012984 1					386,031.98			19-Sep-2005		5.875%		CA - 56.73%		Paid Off - 360		01-Nov-2002
3900013007 1			454,100.00		426,592.42			07-Sep-2005		5.625%		FL - 66.78%		Paid Off - 360		01-Jun-2002
3900013007 1					426,592.42			07-Sep-2005		5.625%		FL - 66.78%		Paid Off - 360		01-Jun-2002
3900013009 1			112,450.00		105,716.57			27-Sep-2005		5.750%		FL - 89.96%		Paid Off - 360		01-May-2002
3900013009 1					105,716.57			27-Sep-2005		5.750%		FL - 89.96%		Paid Off - 360		01-May-2002
3900013016 1			224,650.00		212,860.95			13-Sep-2005		6.875%		CA - 94.00%		Paid Off - 360		01-Apr-2002
3900013016 1					212,860.95			13-Sep-2005		6.875%		CA - 94.00%		Paid Off - 360		01-Apr-2002
3900013035 1			188,000.00		177,242.55			29-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Apr-2002
3900013035 1					177,242.55			29-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Apr-2002
3900013036 1			350,000.00		328,414.95			09-Sep-2005		5.500%		CA - 46.67%		Paid Off - 360		01-May-2002
3900013036 1					328,414.95			09-Sep-2005		5.500%		CA - 46.67%		Paid Off - 360		01-May-2002
3900013048 1			147,000.00		141,890.16			09-Sep-2005		6.750%		MI - 70.00%		Paid Off - 360		01-May-2002
3900013048 1					141,890.16			09-Sep-2005		6.750%		MI - 70.00%		Paid Off - 360		01-May-2002
3900013073 1			171,000.00		162,196.31			21-Sep-2005		6.500%		CA - 90.00%		Paid Off - 360		01-May-2002
3900013073 1					162,196.31			21-Sep-2005		6.500%		CA - 90.00%		Paid Off - 360		01-May-2002
3900013139 1			96,000.00		51,897.81			26-Sep-2005		6.000%		ID - 80.00%		Paid Off - 360		01-Jul-2002
3900013139 1					51,897.81			26-Sep-2005		6.000%		ID - 80.00%		Paid Off - 360		01-Jul-2002
3900013145 1			155,900.00		145,952.79			14-Sep-2005		6.000%		FL - 69.29%		Paid Off - 360		01-Jul-2002
3900013145 1					145,952.79			14-Sep-2005		6.000%		FL - 69.29%		Paid Off - 360		01-Jul-2002
3900013184 1			110,800.00		106,478.75			02-Sep-2005		6.750%		FL - 80.00%		Paid Off - 360		01-Jul-2002
3900013184 1					106,478.75			02-Sep-2005		6.750%		FL - 80.00%		Paid Off - 360		01-Jul-2002
3900013196 1			121,250.00		116,743.37			28-Sep-2005		6.875%		NJ - 97.00%		Paid Off - 360		01-Aug-2002
3900013196 1					116,743.37			28-Sep-2005		6.875%		NJ - 97.00%		Paid Off - 360		01-Aug-2002
3900013209 1			180,600.00		172,828.72			06-Sep-2005		6.000%		GA - 94.96%		Paid Off - 360		01-Jul-2002
3900013209 1					172,828.72			06-Sep-2005		6.000%		GA - 94.96%		Paid Off - 360		01-Jul-2002
3900013212 1			136,000.00		135,115.25			14-Sep-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900013212 1					135,115.25			14-Sep-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Aug-2002
3900013222 1			396,900.00		375,456.77			01-Sep-2005		6.125%		CA - 70.00%		Paid Off - 360		01-Aug-2002
3900013222 1					375,456.77			01-Sep-2005		6.125%		CA - 70.00%		Paid Off - 360		01-Aug-2002
3900013225 1			270,750.00		257,261.92			06-Sep-2005		6.000%		GA - 87.34%		Paid Off - 360		01-Jul-2002
3900013225 1					257,261.92			06-Sep-2005		6.000%		GA - 87.34%		Paid Off - 360		01-Jul-2002
3900013272 1			128,250.00		128,199.17			27-Sep-2005		6.500%		FL - 95.00%		Paid Off - 360		01-Aug-2002
3900013272 1					128,199.17			27-Sep-2005		6.500%		FL - 95.00%		Paid Off - 360		01-Aug-2002
3900013290 1			116,850.00		110,930.97			09-Sep-2005		6.000%		AZ - 95.00%		Paid Off - 360		01-Aug-2002
3900013290 1					110,930.97			09-Sep-2005		6.000%		AZ - 95.00%		Paid Off - 360		01-Aug-2002
3900013293 1			383,900.00		347,974.54			08-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900013293 1					347,974.54			08-Sep-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Oct-2002
3900013326 1			90,200.00		85,846.94			19-Sep-2005		6.375%		NM - 96.99%		Paid Off - 360		01-Oct-2002
3900013326 1					85,846.94			19-Sep-2005		6.375%		NM - 96.99%		Paid Off - 360		01-Oct-2002
3900013375 1			319,500.00		302,681.29			28-Sep-2005		5.750%		FL - 90.00%		Paid Off - 360		01-Nov-2002
3900013375 1					302,681.29			28-Sep-2005		5.750%		FL - 90.00%		Paid Off - 360		01-Nov-2002
3900013378 1			220,000.00		204,510.68			26-Sep-2005		5.375%		CA - 80.00%		Paid Off - 360		01-Nov-2002
3900013378 1					204,510.68			26-Sep-2005		5.375%		CA - 80.00%		Paid Off - 360		01-Nov-2002
3900013383 1			207,950.00		207,913.18			06-Sep-2005		5.750%		WA - 79.99%		Paid Off - 360		01-Nov-2002
3900013383 1					207,913.18			06-Sep-2005		5.750%		WA - 79.99%		Paid Off - 360		01-Nov-2002
3900013409 1			70,000.00		69,845.87			15-Sep-2005		5.500%		CA - 71.43%		Paid Off - 360		01-Nov-2002
3900013409 1					69,845.87			15-Sep-2005		5.500%		CA - 71.43%		Paid Off - 360		01-Nov-2002
3900013441 1			166,050.00		151,586.95			28-Sep-2005		6.750%		OR - 90.00%		Paid Off - 360		01-May-1999
3900013441 1					151,586.95			28-Sep-2005		6.750%		OR - 90.00%		Paid Off - 360		01-May-1999


TOTAL			41,181,279.00		40,051,845.89
TOTAL


Page 19 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



															Total


Current
Current



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

Cumulative
Cumulative



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










Page 20 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution


DEFAULT SPEEDS



															Total



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


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


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


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












Page 21 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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 22 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 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 23 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

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



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
														Total
Current LIBOR														3.830000%
Next LIBOR														0.000000%




Page 24 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Additional Certificate Report

ADDITIONAL CERTIFICATE REPORT

										Next Pass Through Rate			NET WAC Shortfall CarryOver		NET WAC Shortfall Paid
CLASS

			A-1							0.320%			$0.00		$0.00
										0.320%			$0.00		$0.00
			A-2							0.220%			$0.00		$0.00
										0.220%			$0.00		$0.00
			A-3W							0.250%			$0.00		$0.00
										0.250%			$0.00		$0.00
			A-4							0.380%			$0.00		$0.00
										0.380%			$0.00		$0.00
			A-IO							1.200%			$0.00		$0.00
										1.200%			$0.00		$0.00
			M-1							0.510%			$0.00		$0.00
										0.510%			$0.00		$0.00
			M-2							0.540%			$0.00		$0.00
										0.540%			$0.00		$0.00
			M-3							0.580%			$0.00		$0.00
										0.580%			$0.00		$0.00
			M-4							0.700%			$0.00		$0.00
										0.700%			$0.00		$0.00
			M-5							0.780%			$0.00		$0.00
										0.780%			$0.00		$0.00
			M-6							0.830%			$0.00		$0.00
										0.830%			$0.00		$0.00
			B							1.600%			$0.00		$0.00
										1.600%			$0.00		$0.00
			CERT							0.000%			$0.00		$0.00
										0.000%			$0.00		$0.00




Page 25 of 26
IMPAC CMB Trust 2005-5

Collateralized Asset-Backed Bonds
Collateralized Asset-Backed Bonds
2005-5

October 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
														Total
BEAR STERNS REFERENCE NUMBER CXIMP055B1														9,092.56
LEHMAN BROTHERS RISK ID 975359L														2,574.45
LEHMAN BROTHERS RISK ID 975363L														35,414.49
LEHMAN BROTHERS RISK ID 975373L														93,961.50
LEHMAN BROTHERS RISK ID 975369L														129,978.22
LEHMAN BROTHERS RISK ID 975363L														4,662.55
LEHMAN BROTHERS RISK ID 975379L														2,194.45







Page 26 of 26

IMPAC CMB Trust Series 2005-5 8-K