SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-K/A
                                 Amendment No.1


(Mark One)

/     x / ANNUAL  REPORT  PURSUANT  TO  SECTION  13 OR  15(d) OF THE  SECURITIES
      EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2000 or

/   / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934


      Commission File No.:   333-60707-03

                         Impac CMB Trust
                         Collateralized Asset-Backed Bonds
                         Series 2000-1 Trust
        (Exact name of registrant as specified in its charter)



New York                               N/A
(State or other jurisdiction     (I.R.S. Employer
 of incorporation or              Identification  No.)
 organization)

c/o Wells Fargo Bank Minnesota, N.A.
9062 Old Annapolis Road
Columbia, Maryland                            21045
(Address of principal executive offices)     (ZIP Code)


Registrant's telephone number, including area code:
     (410) 884-2000

Securities to be registered pursuant to Section 12(b) of the Act:

     NONE

Securities to be registered pursuant to Section 12(g) of the Act:

     NONE

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

     Yes   X          No ___


This Amendment No. 1 on Form 10-K/A amends Item 14 of the original Annual Report
on Form 10-K (the  "Original  Form 10-K") filed on March 19, 2001, on behalf of
Impac CMB Trust Series 2000-1 Trust established  pursuant to the Indenture
among  Impac CMB Trust Series 2000-1, as Issuer and Norwest Bank Minnesota,
N.A. as Indenture Trustee, pursuant to which the Impac CMB Trust Series 2000-1
Trust registered under the Securities Act of 1933 (the "Certificates") were
issued.


Item 14 of the original Form 10K is amended in its entirety to read as follows:

Item 14.  Exhibits, Financial Statement Schedules, and Reports
          on Form 8-K.

          (a) Exhibits

              (99.1) Annual   Independent    Accountants'    Servicing   Reports
                     concerning servicing activities for the year ended December
                     31, 2000.

                     a)   Impac Funding Corporation  <F1>

              (99.2) Report  of  Management   as  to  Compliance   with  Minimum
                     Servicing Standards for the year ended December 31, 2000.

                     a)  Impac Funding Corporation   <F1>

              (99.3) Annual  Statements  of  Compliance  under the  Pooling  and
                     Servicing Agreements for the year ended December 31, 2000.

                     a)  Impac Funding Corporation   <F1>

              (99.4) Aggregate Statement of Principal and Interest Distributions
                     to Certificate Holders. <F2>

            (b)  On November 9, 2000,  December 11, 2000,  and January 3, 2001,
                 reports  on Form 8-K  were  filed  by the  Company  in order to
                 provide the statements for the monthly distributions to holders
                 of the  Certificates.  No other  reports  on Form 8-K have been
                 filed  during the last  quarter  of the period  covered by this
                 report.

            (c) Not applicable.

            (d)  Omitted.

<F1>  Filed herewith.
<F2>  Previously filed.

                           SIGNATURE

Pursuant to the  requirements of Section 13 or 15(d) 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 CMB Trust
Collateralized Asset-Backed Bonds
Series 2000-1 Trust

Signed:   Wells Fargo Bank Minnesota, N.A., as Indenture Trustee

By:   Beth Belfield, Assistant Vice President
By:  /s/  Beth Belfield, Assistant Vice President

Dated:  July 10, 2002


Exhibit Index

Exhibit No.

99.1      Annual Independent Accountants' Servicing Reports concerning servicing
          activities for the year ended December 31, 2000.

                     a)  Impac Funding Corporation  <F1>

99.2      Report of Management as to Compliance with Minimum Servicing Standards
          for the year ended December 31, 2000.

                     a)  Impac Funding Corporation  <F1>

99.3      Annual  Statements  of  Compliance  under the  Pooling  and  Servicing
          Agreements for the year ended December 31, 2000.

                     a)  Impac Funding Corporation  <F1>

99.4      Aggregate Statement of Principal and Interest Distributions to
          Certificate Holders.<F2>

<F1>  Filed herewith.
<F2>  Previously filed.



EX-99.1 (a)
Annual Independant Accountant's Servicing Report

KPMG (logo)

600 Anton Boulevard
Suite 700
Costa Mesa, CA 92626-7651


Independent Accountants' Report

The Board of Directors
Impac Funding Corporation:

We have examined management's assertion, included in the accompanying Management
Assertion on Master Servicing (the Assertion), that, except for the
noncompliance items described in Items 3, 6 and 7 of the Assertion, Impac
Funding Corporation complied with the requirements for Master Servicer as
detailed in the Pooling and Servicing Agreements during the year ended December
31, 2000.  Management is responsible for Impac Funding Corporation's compliance
with those requirements. Our responsibility is to express an opinion on Impac
Funding Corporation's compliance based on our examination.

Our examination was conducted in accordance with attestation standards
established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about Impac Funding
Corporation's compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. We believe that our
examination provides a reasonable basis for our opinion. Our examination does
not provide a legal determination on Impac Funding Corporation's compliance
with specified requirements.

Our examination disclosed the following material noncompliance with the
requirements of Master Servicer as detailed in the Poolng and Servicing
Agreements applicable to Impac Funding Corporation during the year ended
December 31, 2000.

   *  The sub-servicers are allowed 48 hours to deposit payments into the
      protected accounts rather than 24 hours as required in the Pooling and
      Servicing Agreements.

   *  The Master Servicer does not send Bank statements to the Trustee on a
      monthly basis as required in the Pooling and Servicing Agreements.

   *  The Master Servicer does not cause sub-servicers to deny mortgage payment,
      to deny mortgage payment forbearance for more than six months or during
      the last twelve months of the mortgage note term as required in the
      Pooling and Servicing Agreements.

   *  The Master Servicer does not cause the sub-servicer to provide an
      officer's certificate, regarding the liquidation of a mortgage loan, to
      the trustee within five business days after it is determined that all
      amounts expected to be recovered are recovered.

   *  In the Protected Account the Master Servicer did not clear reconciling
      items in a timely manner during the year ended December 31, 2000.

   *  The Master Servicer has not set-up custodial accounts under the name of
      the indenture trustee as required in the Pooling and Servicing Agreements.

In our opinion, except for the items of noncompliance described in the third
paragraph above, Impac Funding Corporation complied, in all material respects,
with the aforementioned requirements for the year ended December 31, 2000. These
conditions were considered in determining the nature, timing, and extent of
audit of the 2000 consolidated financial statements, and this report does not
effect our report dated February 2, 2001, except as to Note L to the
consolidated financial statements, which is as of March 27, 2001.

This report is intended solely for the information and use of Bankers Trust
Company, Wells Fargo Bank Minnesota, National Association and LaSalle National
Bank and is not intended to be and should not be used by anyone other than these
specified parties.

August 6, 2001




EX-99.2 (a)
Report of Management

IMPAC FUNDING CORPORATION   (logo)
1401 Dove Street
Newport Beach, California 92660

MANAGEMENT ASSERTION ON MASTER SERVICING

As of and for the year ended December 31, 2000, Impac Funding Corporation
has complied in all material respects with the requirements for Master
Servicer as detailed in the Pooling and Servicing Agreements ("PSA's)
relating to the securitizations as listed in the attachment to this letter,
except for the areas as detailed in this assertion.

The following is a listing of the specific requirements that the Master
Servicer complied with during the year ended December 31, 2000:

* The Master Servicer has complied with the requirements as stated within the
  "Collection of Taxes, Assessments and Similar Items; Servicer Accounts"
  section of the Pooling and Servicing Agreement.

* The Master Servicer has complied with the requirements as stated within the
  "Annual Statement of Compliance" section of the Pooling and Servicing
  Agreement.

* The Master Servicer has complied with the requirements as stated within the
  "Collection of Mortgage Payments" section of the Pooling and Servicing
  Agreement; except that:

  * The sub-servicers are allowed 48 hours to deposit payments into the
    protected accounts rather than 24 hours as required in the PSA 's.

  * The Master Servicer does not send bank statements to the Trustee on a
    monthly basis as required in the PSA's.

  * The Master Servicer does not cause the sub-servicer to deny mortgage
    payment forbearance for more than six months or during the last twelve
    months of the mortgage note as required in the PSA's.

  * The Master Servicer does not cause the sub-servicer to provide an
    officer's certificate, regarding the liquidation of a mortgage loan, to the
    Trustee within five business days after it is determined that all amounts
    expected to be recovered are recovered. Instead, the Master Servicer
    provides to the Trustee the officer certficates for the distribution month.

*   The Master Servicer has complied with the requirements as stated within the
    "Maintenance of Primary Insurance policies: Collections Therunder" section
    of the Pooling and Servicing Agreement.

*   The Master Servicer has complied with the requirements as stated within the
    "Maintenance of Hazard Insurance and Fidelity Coverage" section of the
    Pooling and Servicing Agreement.

*   The Master Servicer has complied with the requirements as stated within the
    "Protected Accounts" section of the Pooling and Servicing Agreement, except
    that:

  * In the Protected Accounts, the Master Servicer did not clear reconciling
    items within a timely manner during the year ended December 31, 2000.

  * The Master Servicer has dedicated one person to performing monthly
    bank reconciliations, including clearing of aged items. There are weekly
    meeting with the Chief Financial Officer, Executive Vice President and
    department Vice President to review results and set priorities.

  * The Master Servicer has not set up custodial accounts under the name of
    the indenture trustee as required in the PSA's. This has been corrected as
    of February 28, 2001.

*   The Master Servicer has complied with the requirements as stated within the
    "Withdrawals from Collection Accounts" section of the Pooling and Servicing
    Agreement, except that:

  * The Master Servicer does not cause the sub-servicer to deny mortgage
    payment forbearance for more than six months or during the last twelve
    months of the mortgage note as required in the PSA's.

IMPAC FUNDING CORPORATION
June 13, 2001

Joseph Tomkinson
Chairman, Chief Executive Offic

Richard Johnson
Chief Financial Officer

Mario R. Fegan Jr.
Vice President Master Servicing




EX-99.3 (a)
Annual Statement of Compliance


IMPAC FUNDING CORPORATION
1401 Dove Street
Newport Beach, California 92660


September 6, 2001

Wells Fargo Bank Minntsota, N.A.
Formerly Norwest Bank Minnesota, N.A.
Attn: Melissa Jennings
11000 Broken Land Parkway
Columbia, MD 21044-3562

Re: Annual Statement of Compliance

OFFICER'S CERTIFICATE


I, Mario R. Fegan Jr., hereby certify that I am the Vice President, Master
Servicing of Impac Funding Corporation., the Issuer in the below identified
transactions I further certify, with respect to the Pooling and Servicing
Agreements as Master Servicer the following:

I have reviewed the activities and performances of the Master Servicer during
the calendar year ending  December 31, 2000, under the agreements and sections
listed below and to the best of my knowledge the Issuer has fulfilled all of
its duties, responsibilities or obligations under the Indenture through out the
calendar year 2000.

Vice President
Master Servicing

Pooling and Servicing Agreements

Impac CMB 2000-1, section 3.10