================================================================================
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)
March 4, 1998
IMC Securities, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-31197-04 59-3284026
- ---------------------------- ------------------------ -------------------
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
5901 East Fowler Avenue
Tampa, Florida 33617-2362
- ---------------------------------------- --------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (813) 984-8801
3450 Buschwood Park Drive, Tampa, Florida 33618
-------------------------------------------------------------
(Former name or former address, if changed since last report)
================================================================================
<PAGE>
Item 5. Other Events.
The attached tax opinion is hereby incorporated by reference to the
IMC Registration Statement on Form S-3 (No. 333-31197) filed by the registrant
in connection with the offering of IMC Home Equity Loan Pass-Through
Certificates, Series 1998-1, described in a Prospectus Supplement dated February
27, 1998.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
8.1 Tax Opinion of Arter & Hadden LLP
<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 hereunto duly authorized.
IMC SECURITIES, INC. as Depositor
By: /s/ Thomas Middleton
------------------------------
Name: Thomas Middleton
Title: President and Chief
Operating Officer
Dated: March 4, 1998
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
8.1 Tax Opinion of Arter & Hadden LLP
Exhibit 8.1
March 4, 1998
Re: IMC Securities, Inc.
Home Equity Loan Pass-Through Certificates, Series 1998-1
Registration Statement on Form S-3 No. 333-31197
Ladies and Gentlemen:
We have acted as counsel to IMC Securities, Inc. in connection with the
preparation and filing of the registration statement on Form S-3 (such
registration statement, the "Registration Statement") filed with the Securities
and Exchange Commission pursuant to the Securities Act of 1933, as amended (the
"Act"), in respect of Home Equity Loan Pass-Through Certificates, Series 1998-1
(the "Certificates"). Our advice formed the basis for the description of federal
income tax consequences appearing under the heading "Federal Income Tax
Consequences" in the prospectus supplement contained in the Registration
Statement. Such description does not purport to discuss all possible federal
income tax consequences of an investment in Certificates but with respect to
those tax consequences which are discussed, it is our opinion that the
description is accurate. In addition, assuming (i) the REMIC elections are made,
(ii) the Pooling and Servicing Agreement is fully executed, delivered and
enforceable against the parties thereto in accordance with its terms, (iii) the
transaction described in the prospectus supplement is completed on substantially
the terms and conditions set forth therein, and (iv) continuing compliance with
the Pooling and Servicing Agreement, it is our opinion that, for federal income
tax purposes: the Lower-Tier REMIC and the Upper-Tier REMIC will each be treated
as a REMIC; the Class A, Class M-1, Class M-2 and Class B Certificates will be
treated as "regular interests" in the Upper-Tier REMIC; the Class R Certificates
will be the sole "residual interests" in the Upper-Tier REMIC; the Lower-Tier
A-1 through A-6, M-1, M-2 and B Interests will each be treated as "regular
interests" in the Lower-Tier REMIC; and the Lower-Tier REMIC Residual Class
will be the sole "residual interest" in the Lower-Tier REMIC.
We hereby consent to the filing of this letter as an Exhibit to the
Registration Statement and to the reference to this firm in the Registration
Statement and related prospectus supplement under the heading "Federal Income
Tax Consequences."
Very truly yours,
/s/ Arter & Hadden LLP
Arter & Hadden LLP
