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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) May 22, 1997
IMH ASSETS CORP. (as depositor under the Trust Agreement, dated as of May 1,
1997, and pursuant to which an Indenture was entered into, providing for, inter
alia, the issuance of Collateralized Asset-Backed Bonds, Series 1997-1)
IMH ASSETS CORP.
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(Exact name of registrant as specified in its charter)
CALIFORNIA 333-23387 33-0705301
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
20371 Irvine Avenue
Santa Ana Heights,
California 92707
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (714) 556-0122
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Item 5. Other Events.
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The consolidated financial statements of AMBAC Indemnity Corporation
and its subsidiaries as of December 31, 1996 and 1995, and for the three year
period ended December 31, 1996 prepared in accordance with generally accepted
accounting principles, included in the Current Report on Form 8-K of AMBAC Inc.
(which was filed with the Securities and Exchange Commission on March 12, 1997;
Commission File Number 1-10777), 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.
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(a) Not applicable
(b) Not applicable
(c) Exhibits:
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
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1 23 Consent of KPMG Peat
Marwick LLP, independent
auditors of AMBAC
Indemnity Corporation with
respect to the IMH Assets
Corp. Collateralized Asset-
Backed Bonds, Series 1997-1
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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.
IMH ASSETS CORP.
By: /s/ Richard J. Johnson
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Name: Richard J. Johnson
Title: Chief Financial Officer
Dated: May 22, 1997
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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.
IMH ASSET CORP.
By: /s/ Richard J. Johnson
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Name: Richard J. Johnson
Title: Chief Financial Officer
Dated: May 22, 1997
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EXHIBIT INDEX
Item 601(a) of Sequentially
Exhibit Regulation S-K Numbered
Number Exhibit No. Description Page
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1 23 Accountant's Consent
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
AMBAC Indemnity Corporation:
We consent to the incorporation by reference in the registration
statement (No. 333- 23387) on Form S-3 of IMH Assets Corp. and the Prospectus
Supplement of IMH Assets Corp. dated May 22, 1997 of our report dated January
30, 1997 with respect to the consolidated financial statements of AMBAC
Indemnity Corporation and subsidiaries as of December 31, 1996 and 1995, and for
each of the years in the three-year period ended December 31, 1996, which report
appears in the Form 8-K of AMBAC Inc. dated March 12, 1997 and to the reference
to our firm under the heading "Experts" in the Prospectus Supplement dated May
22, 1997 of IMH Assets Corp.
KPMG PEAT MARWICK LLP
New York, New York
May 22, 1997
