- -------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 26, 1998
IMH ASSETS CORP. (as depositor under the Trust Agreement, dated as of August 1,
1996, and pursuant to which an Indenture was entered into, providing for, inter
alia, the issuance of Collateralized Mortgage Bonds, Series 1996-1)
IMH ASSETS CORP.
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
CALIFORNIA 333-38879 33-0705301
- ---------------------------- --------- ----------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
20371 Irvine Avenue
Santa Ana Heights,
CALIFORNIA 92707
------------------- -------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (714) 556-0122
<PAGE>
Item 5. Other Events
Attached hereto are copies of the monthly remittance
statements to the Bondholders, which were distributed to the
Bondholders by the Indenture Trustee.
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. DESCRIPTION
----------- -----------
99.1 Monthly remittance statement to the Bondholders
dated August 30, 1996.
99.2 Monthly remittance statement to the
Bondholders dated September 30, 1996.
99.3 Monthly remittance statement to the
Bondholders dated October 31, 1996.
99.4 Monthly remittance statement to the
Bondholders dated November 29, 1996.
99.5 Monthly remittance statement to the
Bondholders dated December 31, 1997.
99.6 Monthly remittance statement to the
Bondholders dated January 31, 1997.
99.7 Monthly remittance statement to the
Bondholders dated February 28, 1997.
99.8 Monthly remittance statement to the
Bondholders dated March 31, 1997.
-2-
<PAGE>
99.9 Monthly remittance statement to the
Bondholders dated April 30, 1997.
99.10 Monthly remittance statement to the
Bondholders dated May 30, 1997.
99.11 Monthly remittance statement to the
Bondholders dated June 30, 1997.
99.12 Monthly remittance statement to the
Bondholders dated July 31, 1997.
99.13 Monthly remittance statement to the
Bondholders dated August 29, 1997.
99.14 Monthly remittance statement to the
Bondholders dated September 30, 1997.
99.15 Monthly remittance statement to the
Bondholders dated October 31, 1997.
99.16 Monthly remittance statement to the
Bondholders dated November 28, 1997.
-3-
<PAGE>
SIGNATURE
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.
IMPERIAL CMB TRUST SERIES 1996-1
IMH ASSETS CORP.
By: /S/ RICHARD J. JOHNSON
------------------------------------------------
Name: Richard J. Johnson
Title: Chief Financial Officer
Dated: January 26, 1998
<PAGE>
EXHIBIT INDEX
DESCRIPTION
- -----------
Monthly remittance statement to the Bondholders dated August 30, 1996.
Monthly remittance statement to the Bondholders dated September 30, 1996.
Monthly remittance statement to the Bondholders dated October 31, 1996.
Monthly remittance statement to the Bondholders dated November 29, 1996.
Monthly remittance statement to the Bondholders dated December 31, 1996.
Monthly remittance statement to the Bondholders dated January 31, 1997.
Monthly remittance statement to the Bondholders dated February 28, 1997.
Monthly remittance statement to the Bondholders dated March 31, 1997.
Monthly remittance statement to the Bondholders dated April 30, 1997.
Monthly remittance statement to the Bondholders dated May 30, 1997.
Monthly remittance statement to the Bondholders dated June 30, 1997.
Monthly remittance statement to the Bondholders dated July 31, 1997.
Monthly remittance statement to the Bondholders dated August 29, 1997.
Monthly remittance statement to the Bondholders dated September 30, 1997.
Monthly remittance statement to the Bondholders dated October 31, 1997.
Monthly remittance statement to the Bondholders dated November 28, 1997.
-6-
<PAGE>
EXHIBITS
-7-
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 259,813,919.00 1,116,550.32 158,455.90 1,275,006.22 0.00 0.00 259,655,463.10
TOTALS 259,813,919.00 259,813,919.00 1,116,550.32 158,455.90 1,275,006.22 0.00 0.00 259,655,463.10
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 1,000.000000 4.297500 0.609882 4.907382 999.390118 5.730000% 5.562500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: August 30, 1996 Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 811,294.80 0.00 811,294.80 0.00 0.00 0.00
TOTALS 0.00 0.00 811,294.80 0.00 811,294.80 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 3.122599 0.000000 3.122599 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: August 30, 1996 Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1996 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 1 (C) COPYRIGHT 1996 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: September 25, 1996
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
<S> <C>
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,966,171.59
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 158,456.69
----------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 2,124,628.28
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,116,550.32
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 158,455.90
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 265,228,591.09
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.7139%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD SUBORDINATED AMOUNT: 5,573,128.78
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 811,294.01
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.79
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: September 25, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
----
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
----
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.3260%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.3260%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
</TABLE>
- --------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 259,655,463.10 1,272,852.72 5,768,385.50 7,041,238.22 0.00 0.00 253,887,077.60
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 259,655,463.10 1,272,852.72 5,768,385.50 7,041,238.22 0.00 0.00 253,887,077.60
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 999.390118 4.899094 22.201988 27.101082 977.188130 5.882500% 5.437500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: September 30, 1996 Irvine, CA 92614
DISTRIBUTION DATE: October 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 708,349.99 0.00 708,349.99 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 708,349.99 0.00 708,349.99 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 2.726374 0.000000 2.726374 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: September 30, 1996 Irvine, CA 92614
DISTRIBUTION DATE: October 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 8,604,830.10 568,385.69 0.00 787,940.48 0.00
PERCENTAGE OF POOL BALANCE 3.3164% 0.2191% 0.0000% 0.3037% 0.0000%
NUMBER OF LOANS 86 4 0 7 0
PERCENTAGE OF LOANS 3.7637% 0.1751% 0.0000% 0.3063% 0.0000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,455,276.63
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 5,730,827.00
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 7,186,103.63
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,272,852.72
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 5,768,385.50
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 259,460,205.59
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9509%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 706,464.73
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 25, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 37,558.50
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 562,344.75
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 599,903.25
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 16,247.35
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.6367%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.6367%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 253,887,077.60 1,258,733.34 5,505,103.36 6,763,836.70 0.00 0.00 248,381,974.24
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 253,887,077.60 1,258,733.34 5,505,103.36 6,763,836.70 0.00 0.00 248,381,974.24
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 977.188130 4.844749 21.188639 26.033389 955.999491 5.757500% 5.437500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
REVISED STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 486,519.21 0.00 486,519.21 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 486,519.21 0.00 486,519.21 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 1.872568 0.000000 1.872568 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 25, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 7,683,019.46 2,134,343.43 2,488,940.37 7,747,934.01 0.00
PERCENTAGE OF POOL BALANCE 3.0224% 0.8396% 0.9791% 3.0480% 0.0000%
NUMBER OF LOANS 59 18 15 56 0
PERCENTAGE OF LOANS 2.6257% 0.8011% 0.6676% 2.4922% 0.0000%
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,465,264.43
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 5,226,942.76
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 6,692,207.19
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,258,733.34
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 5,261,283.34
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 243,820.02
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 254,198,922.25
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9403%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 5,816,948.01
CURRENT PERIOD SUBORDINATED AMOUNT: 5,816,948.01
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 730,339.23
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 25, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 34,340.58
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 552,170.76
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 586,511.34
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 17,332.09
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.5620%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.5620%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 248,381,974.24 1,231,439.88 6,600,730.72 7,832,170.60 0.00 0.00 241,781,243.52
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 248,381,974.24 1,231,439.88 6,600,730.72 7,832,170.60 0.00 0.00 241,781,243.52
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 955.999491 4.739699 25.405609 30.145308 930.593882 5.757500% 5.750000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: November 29, 1996 Irvine, CA 92614
DISTRIBUTION DATE: December 26, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
REVISED STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: November 29, 1996 Irvine, CA 92614
DISTRIBUTION DATE: December 26, 1996 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 8,952,031.62 3,139,658.95 1,409,650.64 10,251,999.60 0.00
PERCENTAGE OF POOL BALANCE 3.6045% 1.2642% 0.5676% 4.1279% 0.0000%
NUMBER OF LOANS 81 24 14 74 0
PERCENTAGE OF LOANS 3.6718% 1.0879% 0.6346% 3.3545% 0.0000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,239,803.95
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 5,791,756.89
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 7,031,560.84
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,231,439.88
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 5,840,033.41
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 760,697.31
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 248,358,888.84
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9453%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 8,380,892.88
CURRENT PERIOD SUBORDINATED AMOUNT: 6,577,645.32
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 760,697.31
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
REVISED STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1996
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 48,276.52
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 777,029.88
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 825,306.40
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 23,807.13
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.7630%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.7630%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 1
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 1
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 188,866.86
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 188,866.86
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1996 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 241,781,243.52 1,304,544.13 9,691,050.91 10,995,595.04 0.00 0.00 232,090,192.61
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 241,781,243.52 1,304,544.13 9,691,050.91 10,995,595.04 0.00 0.00 232,090,192.61
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 930.593882 5.021071 37.299968 42.321039 893.293914 6.070000% 5.500000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: December 31, 1996 Irvine, CA 92614
DISTRIBUTION DATE: January 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: December 31, 1996 Irvine, CA 92614
DISTRIBUTION DATE: January 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: January 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 10,487,010.27 2,031,679.75 896,306.32 13,302,431.79 0.00
PERCENTAGE OF POOL BALANCE 4.3816% 0.8489% 0.3745% 5.5579% 0.0000%
NUMBER OF LOANS 93 16 8 102 0
PERCENTAGE OF LOANS 4.3519% 0.7487% 0.3744% 4.7730% 0.0000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,211,428.52
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 8,972,214.32
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 10,183,642.84
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,304,544.13
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 9,016,307.23
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 674,743.68
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 239,342,581.61
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9438%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,000,607.26
CURRENT PERIOD SUBORDINATED AMOUNT: 7,252,389.00
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 674,743.68
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: January 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 44,092.91
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 795,019.24
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 839,112.15
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 24,766.74
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.6884%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.6884%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 1
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 188,866.86
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 2,030,663.92
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 2,030,663.92
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 232,090,192.61 1,088,116.19 7,623,968.15 8,712,084.34 0.00 0.00 224,466,224.46
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 232,090,192.61 1,088,116.19 7,623,968.15 8,712,084.34 0.00 0.00 224,466,224.46
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 893.293914 4.188060 29.343956 33.532015 863.949958 5.820000% 5.375000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: January 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: February 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 2,522,171.98 0.00 2,522,171.98 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 2,522,171.98 0.00 2,522,171.98 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 9.707609 0.000000 9.707609 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: January 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: February 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: February 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 11,304,866.23 2,435,441.16 419,117.78 11,330,540.63 0.00
PERCENTAGE OF POOL BALANCE 4.9143% 1.0587% 0.1822% 4.9255% 0.0000%
NUMBER OF LOANS 87 22 5 85 0
PERCENTAGE OF LOANS 4.2029% 1.0628% 0.2415% 4.1063% 0.0000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
<S> <C>
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,309,150.32
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 9,267,950.64
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 10,577,100.96
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,088,116.19
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 7,623,968.15
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 230,039,352.45
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9331%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 842,910.97
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 1,679,261.01
</TABLE>
Page 2 of 3 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: February 25, 1997
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 35,278.52
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 653,579.03
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 688,857.55
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 33,327.98
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.7814%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.7814%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 14
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 15
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 2,196,488.29
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 2,385,355.15
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 224,466,224.46 994,260.67 6,406,668.83 7,400,929.50 0.00 0.00 218,059,555.63
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 224,466,224.46 994,260.67 6,406,668.83 7,400,929.50 0.00 0.00 218,059,555.63
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 863.949958 3.826818 24.658682 28.485500 839.291276 5.695000% 6.007500%
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: February 28, 1997 Irvine, CA 92614
DISTRIBUTION DATE: March 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 858,690.56 0.00 858,690.56 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 858,690.56 0.00 858,690.56 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 3.305021 0.000000 3.305021 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: February 28, 1997 Irvine, CA 92614
DISTRIBUTION DATE: March 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: March 25, 1997
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 6,865,330.91 818,079.25 322,976.72 9,672,871.07 0.00
PERCENTAGE OF POOL BALANCE 3.0699% 0.3658% 0.1444% 4.3253% 0.0000%
NUMBER OF LOANS 53 7 3 90 0
PERCENTAGE OF LOANS 2.6212% 0.3462% 0.1484% 4.4510% 0.0000%
</TABLE>
<TABLE>
<CAPTION>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
<S> <C>
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,427,457.80
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 6,379,594.66
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 7,807,052.46
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 994,260.67
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 6,406,668.83
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 223,632,683.62
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9189%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD SUBORDINATED AMOUNT: 5,573,127.99
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 858,690.56
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: March 25, 1997
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 27,074.17
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 456,119.00
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 483,193.17
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 29,189.67
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.0502%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.0502%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 1
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 16
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 117,613.02
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 2,502,968.17
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 218,059,555.63 1,128,049.34 8,862,484.60 9,990,533.94 0.00 0.00 209,197,071.03
TOTALS 259,813,919.00 218,059,555.63 1,128,049.34 8,862,484.60 9,990,533.94 0.00 0.00 209,197,071.03
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 839.291276 4.341759 34.110892 38.452651 805.180384 6.007500% 6.070000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: March 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: April 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: March 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: April 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- -------------------------------------------------------------------------------------------------------------------
Distribution Date: April 25, 1997
- -------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN
INFORMATION DAYS DAYS DAYS FORECLOSURE REO
<S> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 6,809,060.48 3,654,789.94 635,659.79 9,261,100.32 582,892.65
PERCENTAGE OF POOL BALANCE 3.1596% 1.6959% 0.2950% 4.2974% 0.2705%
NUMBER OF LOANS 60 18 3 91 5
PERCENTAGE OF LOANS 3.0380% 0.9114% 0.1519% 4.6076% 0.2532%
</TABLE>
Note: Quantity and Principal Balance of Foreclosures & REO Properties are not
included in the delinquency figures above.
<TABLE>
<CAPTION>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
<S> <C>
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,203,853.14
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 8,091,460.70
----------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 9,295,313.84
----------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,128,049.34
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 8,126,612.88
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 735,871.72
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 215,506,070.74
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9091%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 6,321,115.45
CURRENT PERIOD SUBORDINATED AMOUNT: 6,308,999.71
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 735,871.72
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- -------------------------------------------------------------------------------------------------------
Distribution Date: April 25, 1997
- -------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 35,152.18
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 624,323.21
--------------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 659,475.39
--------------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 35,173.68
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.0685%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.0685%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 16
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 2,502,968.17
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
</TABLE>
- --------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 209,197,071.03 1,128,734.42 9,032,239.18 10,160,973.60 0.00 0.00 200,164,831.85
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 209,197,071.03 1,128,734.42 9,032,239.18 10,160,973.60 0.00 0.00 200,164,831.85
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 805.180384 4.344395 34.764262 39.108658 770.416122 6.070000% 6.070000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: April 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: May 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: April 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: May 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: May 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN IN
INFORMATION DAYS DAYS DAYS BANKRUPTCY FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 4,958,731.85 399,190.55 0.00 3,608,116.58 10,814,535.77 825,286.35
PERCENTAGE OF POOL BALANCE 2.3943% 0.1928% 0.0000% 1.7422% 5.2218% 0.3985%
NUMBER OF LOANS 45 4 0 27 93 6
PERCENTAGE OF LOANS 2.3634% 0.2101% 0.0000% 1.4181% 4.8845% 0.3151%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures, Bankruptcies & REO
Properties are not included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,365,107.82
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 8,380,991.68
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 9,746,099.50
------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 1,128,734.42
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 8,403,751.03
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 628,488.15
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 207,102,319.71
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 8.9891%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 8,484,274.85
CURRENT PERIOD SUBORDINATED AMOUNT: 6,937,487.86
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 628,488.15
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: May 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 22,759.35
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 395,530.92
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 418,290.27
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 35,680.25
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.8192%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 8.8192%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 1
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 17
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 184,855.79
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 2,687,823.96
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 200,164,831.85 978,750.43 12,290,405.40 13,269,155.83 0.00 0.00 187,874,426.45
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 200,164,831.85 978,750.43 12,290,405.40 13,269,155.83 0.00 0.00 187,874,426.45
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 770.416122 3.767121 47.304646 51.071767 723.111476 6.070000% 6.070000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: May 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: June 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Melanie Anbarci
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: May 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: June 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: June 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN IN
INFORMATION DAYS DAYS DAYS BANKRUPTCY FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 8,608,312.31 697,314.16 377,965.54 3,851,859.38 10,713,282.83 513,283.36
PERCENTAGE OF POOL BALANCE 4.4021% 0.3566% 0.1933% 1.9698% 5.4785% 0.2625%
NUMBER OF LOANS 80 6 4 34 86 4
PERCENTAGE OF LOANS 4.4199% 0.3315% 0.2210% 1.8785% 4.7514% 0.2210%
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures, Bankruptcies & REO
Properties are not included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 995,805.09
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 11,512,433.34
-------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 12,508,238.43
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 978,750.43
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 11,552,656.02
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 737,749.38
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 195,549,663.69
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 9.2653%
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,496,236.31
CURRENT PERIOD SUBORDINATED AMOUNT: 7,675,237.24
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 737,749.38
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: June 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 40,222.68
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 727,027.53
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 767,250.21
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 52,195.22
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.9661%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.9661%
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 4
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 21
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 404,455.82
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 3,092,279.78
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 187,874,426.45 950,331.47 11,018,233.91 11,968,565.38 0.00 0.00 176,856,192.54
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 187,874,426.45 950,331.47 11,018,233.91 11,968,565.38 0.00 0.00 176,856,192.54
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 723.111476 3.657739 42.408174 46.065913 680.703302 6.070000% 6.007500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: July 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND LOANS LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN IN
INFORMATION DAYS DAYS DAYS BANKRUPTCY FORECLOSURE REO
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 7,779,944.03 2,337,489.07 274,991.96 4,417,689.66 9,860,645.35 973,590.60
PERCENTAGE OF POOL BALANCE 4.2005% 1.2621% 0.1485% 2.3852% 5.3240% 0.5257%
NUMBER OF LOANS 73 16 2 42 81 6
PERCENTAGE OF LOANS 4.2197% 0.9249% 0.1156% 2.4277% 4.6821% 0.3468%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: Quantity and Principal Balance of Foreclosures, Bankruptcies & REO
Properties are not included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,023,321.61
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 10,303,909.36
-------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 11,327,230.97
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 950,331.47
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 10,336,733.98
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 681,499.93
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 185,212,929.71
L
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.1842%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 329
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 345
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 10,340,517.25
CURRENT PERIOD SUBORDINATED AMOUNT: 8,356,737.17
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 681,499.93
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: July 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 32,824.62
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 636,270.24
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 669,094.86
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 47,401.32
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.9025%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.9025%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1730
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 21
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 3,092,279.78
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 176,856,192.54 914,899.19 12,605,475.66 13,520,374.85 0.00 0.00 164,250,716.88
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 176,856,192.54 914,899.19 12,605,475.66 13,520,374.85 0.00 0.00 164,250,716.88
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 680.703302 3.521363 48.517322 52.038686 632.185980 6.007500% 5.945000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: July 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: August 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: July 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: August 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: August 25, 1997
DELINQUENT AND LOANS LOANS LOANS
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS IN IN IN
INFORMATION DAYS DAYS DAYS BANKRUPTCY FORECLOSURE REO
<S> <C> <C> <C> <C> <C> <C>
PRINCIPAL BALANCE 5,494,532.60 669,109.66 219,053.00 5,109,245.15 11,382,383.38 929,990.40
PERCENTAGE OF POOL BALANCE 3.1725% 0.3863% 0.1265% 2.9500% 6.5721% 0.5370%
NUMBER OF LOANS 54 4 2 46 94 5
PERCENTAGE OF LOANS 3.3048% 0.2448% 0.1224% 2.8152% 5.7528% 0.3060%
</TABLE>
Note: Quantity and Principal Balance of Foreclosures, Bankruptcies & REO
Properties are not included in the delinquency figures above.
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,184,709.70
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 11,931,728.38
-------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 13,116,438.08
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 914,899.19
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 11,952,587.15
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 652,888.51
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 173,192,302.95
L
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.3271%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 328
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 344
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 10,109,653.54
CURRENT PERIOD SUBORDINATED AMOUNT: 8,941,586.07
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 652,888.51
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: August 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 20,858.77
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 409,224.53
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 430,083.30
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 50,037.07
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.7878%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.7878%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1634
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 1
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 22
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 302,311.10
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 3,394,590.88
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 68,039.61
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 68,039.61
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 164,250,716.88 836,805.76 11,117,434.21 11,954,239.97 0.00 0.00 153,133,282.67
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 164,250,716.88 836,805.76 11,117,434.21 11,954,239.97 0.00 0.00 153,133,282.67
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 632.185980 3.220789 42.789987 46.010776 589.395993 5.945000% 6.007500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
Distribution Date: September 25, 1997
- -----------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND
LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE 7,887,392.10 897,948.33 365,906.18 9,151,246.61
PERCENTAGE OF POOL BALANCE 4.8486% 0.5520% 0.2249% 5.6256%
NUMBER OF LOANS 75 10 4 89
PERCENTAGE OF LOANS 4.8512% 0.6468% 0.2587% 5.7568%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 261,982.73 573,033.98 9,755,745.74 10,661,588.69
PERCENTAGE OF POOL BALANCE 0.1610% 0.3523% 5.9972% 6.5540%
NUMBER OF LOANS 1 6 78 86
PERCENTAGE OF LOANS 0.0647% 0.3881% 5.0453% 5.5627%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 268,054.53 0.00 3,337,643.16 4,847,842.43
PERCENTAGE OF POOL BALANCE 0.1648% 0.0000% 2.0518% 2.9801%
NUMBER OF LOANS 2 0 35 47
PERCENTAGE OF LOANS 0.1294% 0.0000% 2.2639% 3.0401%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 1,312,552.04 1,312,552.04
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.8069% 0.8069%
NUMBER OF LOANS 0 0 9 9
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.5821% 0.5821%
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 883,467.45
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 10,456,112.29
-------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 11,339,579.74
-------------
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 836,805.76
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 10,487,931.69
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 629,502.52
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 162,672,220.53
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.3560%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: September 25, 1997
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C>
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 326
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 343
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 12,253,837.04
CURRENT PERIOD SUBORDINATED AMOUNT: 9,538,937.86
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 629,502.52
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 31,819.40
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 607,138.52
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 638,957.92
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 42,779.93
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.8855%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.8855%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1546
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 22
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 3,394,590.88
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 32,150.73
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 100,190.34
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 153,133,282.67 816,609.58 9,383,521.15 10,200,130.73 0.00 0.00 143,749,761.52
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 153,133,282.67 816,609.58 9,383,521.15 10,200,130.73 0.00 0.00 143,749,761.52
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 589.395993 3.143056 36.116314 39.259370 553.279678 6.007500% 6.007500%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 27, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92614
DISTRIBUTION DATE: October 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
Distribution Date: October 27, 1997
DELINQUENT AND
LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 4,495,162.68 544,161.85 101,016.00 5,140,340.53
PRINCIPAL BALANCE - GROUP 2 2,521,159.30 936,425.47 0.00 3,457,584.77
PRINCIPAL BALANCE - TOTAL 7,016,321.98 1,480,587.32 101,016.00 8,597,925.30
PERCENTAGE OF POOL BALANCE 4.5631% 0.9629% 0.0657% 5.5917%
NUMBER OF LOANS- GROUP 1 42 7 3 52
NUMBER OF LOANS - GROUP 2 21 5 0 26
NUMBER OF LOANS -TOTAL 63 12 3 78
PERCENTAGE OF LOANS 4.2712% 0.8136% 0.2034% 5.2881%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 0.00 463,197.06 4,586,691.92 5,049,888.98
PRINCIPAL BALANCE - GROUP 2 261,867.05 179,777.27 3,713,101.59 4,154,745.91
PRINCIPAL BALANCE - TOTAL 261,867.05 642,974.33 8,299,793.51 9,204,634.89
PERCENTAGE OF POOL BALANCE 0.1703% 0.4182% 5.3978% 5.9863%
NUMBER OF LOANS- GROUP 1 0 6 43 49
NUMBER OF LOANS- GROUP 2 1 2 29 32
NUMBER OF LOANS - TOTAl 1 8 72 81
PERCENTAGE OF LOANS 0.0678% 0.5424% 4.8814% 5.4915%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 27,174.52 0.00 2,149,503.54 2,914,080.79
PRINCIPAL BALANCE - GROUP 2 257,646.64 104,649.32 1,052,166.63 1,780,876.78
PRINCIPAL BALANCE -TOTAL 284,821.16 104,649.32 3,201,670.17 4,694,957.57
PERCENTAGE OF POOL BALANCE 0.1852% 0.0681% 2.0822% 3.0534%
NUMBER OF LOANS - GROUP 1 1 0 24 31
NUMBER OF LOANS - GROUP 2 2 1 10 15
NUMBER OF LOANS - TOTAL 3 1 34 46
PERCENTAGE OF LOANS 0.2034% 0.0678% 2.3051% 3.1186%
REO LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 0.00 0.00 1,086,017.96 1,086,017.96
PRINCIPAL BALANCE - GROUP 2 0.00 0.00 880,483.36 880,483.36
PRINCIPAL BALANCE - TOTAL 0.00 0.00 1,966,501.32 1,966,501.32
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 1.2789% 1.2789%
NUMBER OF LOANS - GROUP 1 0 0 7 7
NUMBER OF LOANS - GROUP 2 0 0 8 8
NUMBER OF LOANS - TOTAL 0 0 15 15
PERCENTAGE OF LOANS 0.0000% 0.0000% 1.0169% 1.0169%
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 857,764.84
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 8,789,294.96
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 9,647,059.80
------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 816,609.58
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 8,818,050.69
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 565,470.46
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 153,762,350.26
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.3708%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 325
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 342
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 11,307,099.16
CURRENT PERIOD SUBORDINATED AMOUNT: 10,012,588.74
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 565,470.46
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 28,755.73
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 546,983.31
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 575,739.04
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 37,813.55
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.6638%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 9.6638%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1475
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 3 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 143,749,761.52 694,499.35 8,696,149.01 9,390,648.36 0.00 0.00 135,053,612.51
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 143,749,761.52 694,499.35 8,696,149.01 9,390,648.36 0.00 0.00 135,053,612.51
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 553.279678 2.673064 33.470682 36.143746 519.808996 6.007500% 6.070000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 1,094,899.64 0.00 1,094,899.64 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 1,094,899.64 0.00 1,094,899.64 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 4.214169 0.000000 4.214169 0.000000 0.000000% 0.000000%
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: November 25, 1997
DELINQUENT AND
LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 4,125,990.00 391,018.68 82,029.57 4,599,038.25
PRINCIPAL BALANCE - GROUP 2 1,634,161.12 113,215.22 0.00 1,747,376.34
PRINCIPAL BALANCE - TOTAL 5,760,151.12 504,233.90 82,029.57 6,346,414.59
PERCENTAGE OF POOL BALANCE 3.9835% 0.3487% 0.0567% 4.3890%
NUMBER OF LOANS- GROUP 1 36 3 2 41
NUMBER OF LOANS - GROUP 2 18 2 0 20
NUMBER OF LOANS -TOTAL 54 5 2 61
PERCENTAGE OF LOANS 3.8571% 0.3571% 0.1429% 4.3571%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 42,843.56 752,308.72 3,222,473.16 4,091,198.56
PRINCIPAL BALANCE - GROUP 2 0.00 0.00 3,435,662.01 4,067,393.72
PRINCIPAL BALANCE - TOTAL 42,843.56 752,308.72 6,658,135.17 8,158,592.28
PERCENTAGE OF POOL BALANCE 0.0296% 0.5203% 4.6045% 5.6422%
NUMBER OF LOANS- GROUP 1 1 10 37 49
NUMBER OF LOANS- GROUP 2 0 0 26 28
NUMBER OF LOANS - TOTAl 1 10 63 77
PERCENTAGE OF LOANS 0.0714% 0.7143% 4.5000% 5.5000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 0.00 0.00 2,664,508.08 4,114,055.10
PRINCIPAL BALANCE - GROUP 2 0.00 333,799.52 1,124,047.61 1,883,794.23
PRINCIPAL BALANCE -TOTAL 0.00 333,799.52 3,788,555.69 5,997,849.33
PERCENTAGE OF POOL BALANCE 0.0000% 0.2308% 2.6200% 4.1479%
NUMBER OF LOANS - GROUP 1 0 0 27 35
NUMBER OF LOANS - GROUP 2 0 3 11 17
NUMBER OF LOANS - TOTAL 0 3 38 52
PERCENTAGE OF LOANS 0.0000% 0.2143% 2.7143% 3.7143%
REO LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 0.00 0.00 288,081.46 288,081.46
PRINCIPAL BALANCE - GROUP 2 0.00 0.00 1,235,996.90 1,235,996.90
PRINCIPAL BALANCE - TOTAL 0.00 0.00 1,524,078.36 1,524,078.36
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 1.0540% 1.0540%
NUMBER OF LOANS - GROUP 1 0 0 3 3
NUMBER OF LOANS - GROUP 2 0 0 11 11
NUMBER OF LOANS - TOTAL 0 0 14 14
PERCENTAGE OF LOANS 0.0000% 0.0000% 1.0000% 1.0000%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 760,576.17
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 9,133,736.79
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 9,894,312.96
------------
</TABLE>
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: November 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 694,499.35
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 8,696,149.01
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 144,599,741.90
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.4349%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 323
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 341
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,546,129.39
CURRENT PERIOD SUBORDINATED AMOUNT: 9,546,129.39
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 626,667.35
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 468,232.29
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 30,644.51
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 581,882.84
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 612,527.35
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 36,098.49
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.8690%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.8690%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1400
</TABLE>
Page 3 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
Distribution Date: November 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 22
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 3,394,590.88
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: (1,838.15)
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 190,171.77
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
</TABLE>
Page 4 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 259,813,919.00 135,053,612.51 705,917.73 7,008,664.28 7,714,582.01 0.00 0.00 128,044,948.23
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 259,813,919.00 135,053,612.51 705,917.73 7,008,664.28 7,714,582.01 0.00 0.00 128,044,948.23
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
BONDS 452628AA8 519.808996 2.717013 26.975707 29.692720 492.833289 6.070000% 6.445000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: November 28, 1997 Irvine, CA 92614
DISTRIBUTION DATE: December 26, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
TRUST CERTIFICATES
SERIES 1996-1
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
DISTRIBUTIONS IN DOLLARS
PRIOR CURRENT
ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.00 0.00 953,834.62 0.00 953,834.62 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 0.00 0.00 953,834.62 0.00 953,834.62 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH
PRIOR CURRENT RATES
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
CERTIFICATES 0.000000 3.671222 0.000000 3.671222 0.000000 0.000000% 0.000000%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICI Funding Corporation ADMINISTRATOR: Joseph Murphy
MASTER SERVICER: ICI Funding Corporation Bankers Trust Co. of California, NA
LEAD UNDERWRITER: Salomon Brothers Inc 3 Park Plaza
RECORD DATE: November 28, 1997 Irvine, CA 92614
DISTRIBUTION DATE: December 26, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
Page 1 of 1 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT AND
LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
PRINCIPAL BALANCE - GROUP 1 4,733,623.33 837,360.24 243,134.99 5,814,118.56
PRINCIPAL BALANCE - GROUP 2 2,418,461.59 348,168.56 268,590.88 3,035,221.03
PRINCIPAL BALANCE - TOTAL 7,152,084.92 1,185,528.80 511,725.87 8,849,339.59
PERCENTAGE OF POOL BALANCE 5.2182% 0.8650% 0.3734% 6.4566%
NUMBER OF LOANS- GROUP 1 39 8 2 49
NUMBER OF LOANS - GROUP 2 22 4 1 27
NUMBER OF LOANS -TOTAL 61 12 3 76
PERCENTAGE OF LOANS 4.5796% 0.9009% 0.2252% 5.7057%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 177,955.47 675,309.36 3,286,945.61 4,140,210.44
PRINCIPAL BALANCE - GROUP 2 0.00 27,816.83 2,052,223.78 2,247,657.26
PRINCIPAL BALANCE - TOTAL 177,955.47 703,126.19 5,339,169.39 6,387,867.70
PERCENTAGE OF POOL BALANCE 0.1298% 0.5130% 3.8955% 4.6606%
NUMBER OF LOANS- GROUP 1 2 8 37 47
NUMBER OF LOANS- GROUP 2 0 1 20 22
NUMBER OF LOANS - TOTAL 2 9 57 69
PERCENTAGE OF LOANS 0.1502% 0.6757% 4.2793% 5.1802%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 27,162.08 0.00 2,770,353.06 3,880,517.60
PRINCIPAL BALANCE - GROUP 2 0.00 104,555.82 1,268,795.54 1,948,210.11
PRINCIPAL BALANCE -TOTAL 27,162.08 104,555.82 4,039,148.60 5,828,727.71
PERCENTAGE OF POOL BALANCE 0.0198% 0.0763% 2.9470% 4.2527%
NUMBER OF LOANS - GROUP 1 1 0 27 33
NUMBER OF LOANS - GROUP 2 0 1 12 17
NUMBER OF LOANS - TOTAL 1 1 39 50
PERCENTAGE OF LOANS 0.0751% 0.0751% 2.9279% 3.7538%
REO LOAN INFORMATION:
PRINCIPAL BALANCE - GROUP 1 0.00 0.00 222,192.90 222,192.90
PRINCIPAL BALANCE - GROUP 2 0.00 0.00 1,051,636.88 1,051,636.88
PRINCIPAL BALANCE - TOTAL 0.00 0.00 1,273,829.78 1,273,829.78
PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.9294% 0.9294%
NUMBER OF LOANS - GROUP 1 0 0 3 3
NUMBER OF LOANS - GROUP 2 0 0 11 11
NUMBER OF LOANS - TOTAL 0 0 14 14
PERCENTAGE OF LOANS 0.0000% 0.0000% 1.0511% 1.0511%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED, IF ANY)
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 691,037.47
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 7,394,199.54
------------
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 8,085,237.01
------------
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
CURRENT PERIOD INTEREST PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 705,917.73
CURRENT PERIOD PRINCIPAL PAYMENT AMOUNT PAYABLE TO THE BONDHOLDERS: 7,008,664.28
CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00
CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00
CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00
CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY BOND INSURER: 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 137,059,712.47
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.4639%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 1 322
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY- GROUP 2 340
CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,014,764.24
CURRENT PERIOD SUBORDINATED AMOUNT: 9,014,764.24
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 537,277.35
CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 416,557.27
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 31,022.01
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 576,614.07
----------
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 607,636.08
----------
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 30,868.49
CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00
CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2101%
AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2101%
AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1332
Page 3 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
<PAGE>
IMH ASSETS CORP.
IMPERIAL CMB TRUST SERIES 1996-1
COLLATERALIZED MORTGAGE BONDS
SERIES 1996-1
STATEMENT TO BONDHOLDERS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE
AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
PURCHASE AGREEMENT SINCE THE CLOSING DATE: 34
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 4,698,911.20
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 114,807.88
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 304,979.65
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
OF THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Page 4 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
</TABLE>
