- --------------------------------------------------------------------------------
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) September 28, 1999
IMPAC SECURED ASSETS CORP. (as company under a Pooling and Servicing Agreement,
dated as of September 1, 1999, providing for, inter alia, the issuance of
Mortgage Pass-Through Certificates, Series 1999-1)
Impac Secured Assets Corp.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 333-44209 33-071-5871
- ---------------------------- ------------ -------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1401 Dove Street
Newport Beach, California 92660
- ------------------------- ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (949) 475-3600
- --------------------------------------------------------------------------------
<PAGE>
Item 5. Other Events.
------------
The consolidated financial statements of Ambac Assurance Corporation and
subsidiaries as of December 31, 1998 and December 31, 1997, and for each of the
years in the three year period ended December 31, 1998, prepared in accordance
with generally accepted accounting principles, included in the Annual Report on
Form 10-K of Ambac Financial Group, Inc. (which was filed with the Securities
and Exchange Commission on March 30, 1999; Commission File Number 1-10777) and
the unaudited consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of June 30, 1999 and for the periods ending June 30, 1999
and June 30, 1998 included in the Quarterly Report on Form 10-Q of Ambac
Financial Group, Inc. for the period ended June 30, 1999 (which was filed with
the Securities and Exchange Commission on August 13, 1999), are hereby
incorporated by reference in this Current Report on Form 8-K and in the
registration statement and shall be deemed to be a part hereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
------------------------------------------------------------------
(a) Not applicable
(b) Not applicable
(c) Exhibits:
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
- ----------- ----------- -----------
1 23 Consent of KPMG LLP,
independent auditors of
Ambac Assurance Corporation
and subsidiaries with respect
to the Impac Secured Assets
Corp. Mortgage Pass-Through
Certificates, Series 1999-1
<PAGE>
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 thereunto duly authorized.
IMPAC SECURED ASSETS CORP.
By: /s/ Richard J. Johnson
-------------------------------
Name: Richard J. Johnson
Title: Chief Financial Officer
Dated: September 28, 1999
<PAGE>
EXHIBIT INDEX
Item 601(a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
- ------ ----------- ----------- ----
1 23 Accountants' Consent 6
EXHIBIT 1
<PAGE>
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration
statement (No. 333-44209) on Form S-3 of Impac Secured Assets Corp. (the
"Registrant"), and in the Prospectus Supplement of the Registrant (the
"Prospectus Supplement") via the Form 8-K of the Registrant dated September 28,
1999, of our report dated January 27, 1999 on the consolidated financial
statements of Ambac Assurance Corporation and subsidiaries as of December 31,
1998 and 1997, and for each of the years in the three-year period ended December
31, 1998, which report appears in the Form 10-K of Ambac Financial Group, Inc.
which was filed with the Securities and Exchange Commission on March 30, 1999
and to the reference to our firm under the heading "Experts" in the Prospectus
Supplement.
/s/ KPMG LLP
New York, New York
September 28, 1999
