- -------------------------------------------------------------------------------
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 29, 1998
ICIFC SECURED ASSETS CORP. (as depositor under the Pooling and Servicing
Agreement, dated as of March 1, 1997, for, among other things, the issuance of
Mortgage Pass-Through Certificates, Series 1997-1)
ICIFC SECURED ASSETS CORP.
- -------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
CALIFORNIA 333-31147 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 Certificateholders, which were distributed
to the Certificateholders by the 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
Certificateholders dated August 29, 1997.
99.2 Monthly remittance statement to the
Certificateholders dated September 30,
1997.
99.3 Monthly remittance statement to the
Certificateholders dated October 31,
1997.
99.4 Monthly remittance statement to the
Certificateholders dated November 28,
1997.
-2-
<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.
ICIFC SECURED ASSETS CORP.
By: /s/ Richard J. Johnson
----------------------------------
Name: Richard J. Johnson
Title: Chief Financial Officer
Dated: January 29, 1998
-3-
<PAGE>
EXHIBIT INDEX
DESCRIPTION
Monthly remittance statement to the Certificateholders dated August 29, 1997.
Monthly remittance statement to the Certificateholders dated September 30, 1997.
Monthly remittance statement to the Certificateholders dated October 31, 1997.
Monthly remittance statement to the Certificateholders dated November 28, 1997.
-4-
<PAGE>
EXHIBITS
-5-
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
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>
A-1 32,898,000.00 26,362,156.90 147,188.71 2,398,647.17 2,545,835.88 0.00 0.00 23,963,509.73
A-2 67,450,000.00 61,959,756.68 464,698.18 2,014,913.20 2,479,611.38 0.00 0.00 59,944,843.48
A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 110,621.79 0.00 0.00 19,379,000.00
A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 125,871.67 0.00 0.00 21,578,000.00
A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 94,236.00 0.00 0.00 15,706,000.00
A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 101,439.58 0.00 0.00 16,675,000.00
A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 143,433.13 0.00 0.00 22,209,000.00
A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 35,598.33 0.00 0.00 5,512,000.00
A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 43,090.00 0.00 0.00 6,672,000.00
A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 362,448.13 0.00 0.00 56,121,000.00
PO 162,446.00 160,556.29 0.00 256.44 256.44 0.00 0.00 160,299.85
X 270,718,591.23 258,740,572.11 199,311.85 0.00 199,311.85 0.00 0.00 254,329,361.33
B-1 6,311,000.00 6,288,742.79 40,614.80 4,597.66 45,212.46 0.00 0.00 6,284,145.13
B-2 2,805,000.00 2,795,107.52 18,051.74 2,043.48 20,095.22 0.00 0.00 2,793,064.04
B-3 2,104,000.00 2,096,579.76 13,540.41 1,532.79 15,073.20 0.00 0.00 2,095,046.97
B-4 2,384,000.00 2,375,592.26 15,342.37 1,736.78 17,079.15 0.00 0.00 2,373,855.48
B-5 1262000 1257549.26 8121.67 919.38 9041.05 0 0 1256629.88
B-6 1262766 1258312.55 8126.6 919.94 9046.54 0 0 1257392.61
R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 268,406,354.01 1,931,734.96 4,425,566.84 6,357,301.80 0.00 0.00 263,980,787.17
- -----------------------------------------------------------------------------------------------------------------------------------
</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>
A-1 44926MAA8 801.330078 4.474093 72.911641 77.385734 728.418437 6.700000% 6.700000%
A-2 44926MAB6 918.602768 6.889521 29.872694 36.762215 888.730074 9.000000% 9.000000%
A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 1,000.000000 6.850000% 6.850000%
A-4 44926MAD2 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
A-5 44906MAE0 1,000.000000 6.000000 0.000000 6.000000 1,000.000000 7.200000% 7.200000%
A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 1,000.000000 7.300000% 7.300000%
A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 1,000.000000 7.750000% 7.750000%
A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
PO 44926MAV2 988.367150 0.000000 1.578617 1.578617 986.788533 0.000000% 0.000000%
X 44926MAP5 955.754723 0.736233 0.000000 0.736233 939.460272 0.922189% 0.921825%
B-1 44926MAL4 996.473267 6.435557 0.728515 7.164072 995.744752 7.750000% 7.750000%
B-2 44926MAM2 996.473269 6.435558 0.728513 7.164071 995.744756 7.750000% 7.750000%
B-3 44926MAN0 996.47327 6.435556084 0.728512357 7.164068441 995.7447576 0.0775 0.0775
B-4 44926MAQ3 996.4732634 6.435557886 0.728515101 7.164072987 995.7447483 0.0775 0.0775
B-5 44926MAR1 996.4732647 6.435554675 0.728510301 7.164064976 995.7447544 0.0775 0.0775
B-6 44926MAS9 996.4732579 6.435554964 0.728511854 7.164066818 995.7447461 0.0775 0.0775
R-1 44926MAT7 0 0 0 0 0 0.0775 0.0775
R-2 44926MAU4 0 0 0 0 0 0.0775 0.0775
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC II
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>
II-A-1 32,898,000.00 26,362,156.90 189,843.42 2,398,647.17 2,588,490.59 0.00 0.00 23,963,509.73
II-A-2 67,450,000.00 61,959,756.68 446,194.61 2,014,913.20 2,461,107.81 0.00 0.00 59,944,843.48
II-A-3 19,379,000.00 19,379,000.00 139,555.18 0.00 139,555.18 0.00 0.00 19,379,000.00
II-A-4 21,578,000.00 21,578,000.00 155,390.98 0.00 155,390.98 0.00 0.00 21,578,000.00
II-A-5 15,706,000.00 15,706,000.00 113,104.58 0.00 113,104.58 0.00 0.00 15,706,000.00
II-A-6 16,675,000.00 16,675,000.00 120,082.70 0.00 120,082.70 0.00 0.00 16,675,000.00
II-A-7 22,209,000.00 22,209,000.00 159,935.04 0.00 159,935.04 0.00 0.00 22,209,000.00
II-A-8 5,512,000.00 5,512,000.00 39,693.90 0.00 39,693.90 0.00 0.00 5,512,000.00
II-A-9 6,672,000.00 6,672,000.00 48,047.48 0.00 48,047.48 0.00 0.00 6,672,000.00
II-A-10 56,121,000.00 56,121,000.00 404,147.61 0.00 404,147.61 0.00 0.00 56,121,000.00
II-PO 162,446.00 160,556.29 0.00 256.44 256.44 0.00 0.00 160,299.85
II-B-1 6,311,000.00 6,288,742.79 45,287.51 4,597.66 49,885.17 0.00 0.00 6,284,145.13
II-B-2 2,805,000.00 2,795,107.52 20,128.58 2,043.48 22,172.06 0.00 0.00 2,793,064.04
II-B-3 2,104,000.00 2,096,579.76 15,098.23 1,532.79 16,631.02 0.00 0.00 2,095,046.97
II-B-4 2,384,000.00 2,375,592.26 17,107.50 1,736.78 18,844.28 0.00 0.00 2,373,855.48
II-B-5 1,262,000.00 1,257,549.26 9,056.07 919.38 9,975.45 0.00 0.00 1,256,629.88
II-B-6 1262766 1258312.55 9061.5635 919.94 9981.5035 0 0 1257392.61
II-R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 268,406,354.01 1,931,734.96 4,425,566.84 6,357,301.80 0.00 0.00 263,980,787.17
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
ACTOR 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>
II-A-1 IC9701201 801.330078 5.770668 72.911641 78.682309 728.418437 8.641634% 8.638672%
II-A-2 IC9701202 918.602768 6.615191 29.872694 36.487884 888.730074 8.641634% 8.638672%
II-A-3 IC9701203 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-4 IC9701204 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-5 IC9701205 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-6 IC9701206 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-7 IC9701207 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-8 IC9701208 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-9 IC9701209 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-A-10 IC9701210 1,000.000000 7.201361 0.000000 7.201361 1,000.000000 8.641634% 8.638672%
II-PO IC9701213 988.367150 0.000000 1.578617 1.578617 986.788533 0.000000% 0.000000%
II-B-1 IC9701215 996.473267 0.717596 0.728515 1.446112 995.744752 8.641634% 8.638672%
II-B-2 IC9701216 996.473269 0.717596 0.728513 1.446110 995.744756 8.641634% 8.638672%
II-B-3 IC9701217 996.473270 0.717596 0.728512 1.446109 995.744758 8.641634% 8.638672%
II-B-4 IC9701218 996.4732634 0.717596418 0.728515101 1.446111518 995.7447483 0.086416339 0.086386722
II-B-5 IC9701219 996.4732647 0.717596418 0.728510301 1.446106719 995.7447544 0.086416339 0.086386722
II-B-6 IC9701220 996.4732579 0.717596411 0.728511854 1.446108266 995.7447461 0.086416339 0.086386722
II-R-1 IC9701221 0 0 0 0 0 0 0
R-2 IC9701222 0 0 0 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: September 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
Class Interest Accrued Interest Shortfall
-------------------- -------------------- -----------------------
<S> <C> <C>
A-1 147,188.71 0.00
A-2 464,698.18 0.00
A-3 110,621.79 0.00
A-4 125,871.67 0.00
A-5 94,236.00 0.00
A-6 101,439.58 0.00
A-7 143,433.13 0.00
A-8 35,598.33 0.00
A-9 43,090.00 0.00
A-10 362,448.13 0.00
X 199,311.85 0.00
B-1 40,614.80 0.00
B-2 18,051.74 0.00
B-3 13,540.41 0.00
B-4 15,342.37 0.00
B-5 8,121.67 0.00
B-6 8,126.60 0.00
R-1 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Monthly Interest Advanced 297,201.80
Monthly Principal Advanced 26,134.35
Compensatory Interest Payments made by Master Servicer 14,526.07
Realized Losses
a) Due to Deficient Valuations 0.00
b) Liquidated Mortgage Loans 0.00
Scheduled Principal 196,454.90
Principal Prepayments
a) Received from Liquidated Mortgage Loans 0.00
b) All other principal received during related Prepayment Period 4,229,111.94
c) Principal amount received from Net Liquidation Proceeds 0.00
Number of Mortgage Loans (excluding REO Property) remaining as of the end 1841
</TABLE>
- -------------------------------------------------------------------------------
Page 3 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ----------------------------------------------------------------------------------------------------------------------------------
Distribution Date: September 25, 1997
- ----------------------------------------------------------------------------------------------------------------------------------
ELINQUENCY 30 TO 59 60 TO 89 90 AND OVER
INFORMATION DAYS DAYS DAYS TOTAL:
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SCHEDULED PRINCIPAL BALANCE 2,933,685.70 567,132.76 134,378.64 3,635,197.10
NUMBER OF LOANS 18 3 1 22
LOANS IN FORECLOSURE
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 2,004,180.06 2,005,250.92
NUMBER OF LOANS 0 0 9 9
LOANS IN BANKRUPTCY
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
LOANS IN REO STATUS
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Book Value of all REO Property 0.00
- -----------------------------------------------------------------------------------------
AGGREGATE REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS
- -----------------------------------------------------------------------------------------
A-2 0.00
A-3 0.00
A-4 0.00
A-5 0.00
A-6 0.00
A-7 0.00
A-8 0.00
A-9 0.00
A-10 0.00
PO 0.00
X 0.00
B-1 0.00
B-3 0.00
B-4 0.00
B-5 0.00
B-6 0.00
R-1 0.00
R-2 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
<S> <C>
Applicable Senior Percentage 94.01%
Applicable Subordinate Percentage 5.99%
Applicable Senior Prepayment Percentage 100.00%
Applicable Subordinate Prepayment Percentage 0.00%
Weighted Average Coupon Rate 8.90%
Weighted Average Months to Maturity 340
- ----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
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>
A-1 32,898,000.00 23,963,509.73 133,796.26 1,690,227.61 1,824,023.87 0.00 0.00 22,273,282.12
A-2 67,450,000.00 59,944,843.48 449,586.33 1,419,826.13 1,869,412.46 0.00 0.00 58,525,017.35
A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 110,621.79 0.00 0.00 19,379,000.00
A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 125,871.67 0.00 0.00 21,578,000.00
A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 94,236.00 0.00 0.00 15,706,000.00
A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 101,439.58 0.00 0.00 16,675,000.00
A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 143,433.13 0.00 0.00 22,209,000.00
A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 35,598.33 0.00 0.00 5,512,000.00
A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 43,090.00 0.00 0.00 6,672,000.00
A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 362,448.13 0.00 0.00 56,121,000.00
PO 162,446.00 160,299.85 0.00 327.70 327.70 0.00 0.00 159,972.15
X 270,718,591.23 254,329,361.33 195,998.42 0.00 195,998.42 0.00 0.00 251,224,470.97
B-1 6,311,000.00 6,284,145.13 40,585.10 4,671.61 45,256.71 0.00 0.00 6,279,473.52
B-2 2,805,000.00 2,793,064.04 18,038.54 2,076.35 20,114.89 0.00 0.00 2,790,987.69
B-3 2,104,000.00 2,095,046.97 13,530.51 1,557.45 15,087.96 0.00 0.00 2,093,489.52
B-4 2,384,000.00 2,373,855.48 15,331.15 1,764.71 17,095.86 0.00 0.00 2,372,090.77
B-5 1262000 1256629.88 8115.73 934.17 9049.9 0 0 1255695.71
B-6 1262766 1257392.61 8120.66 934.74 9055.4 0 0 1256457.87
R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 263,980,787.17 1,899,841.33 3,122,320.47 5,022,161.80 0.00 0.00 260,858,466.70
- ------------------------------------------------------------------------------------------------------------------------------------
</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>
A-1 44926MAA8 728.418437 4.067003 51.377823 55.444826 677.040614 6.700000% 6.700000%
A-2 44926MAB6 888.730074 6.665476 21.050054 27.715529 867.680020 9.000000% 9.000000%
A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 1,000.000000 6.850000% 6.850000%
A-4 44926MAD2 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
A-5 44906MAE0 1,000.000000 6.000000 0.000000 6.000000 1,000.000000 7.200000% 7.200000%
A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 1,000.000000 7.300000% 7.300000%
A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 1,000.000000 7.750000% 7.750000%
A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
PO 44926MAV2 986.788533 0.000000 2.017286 2.017286 984.771247 0.000000% 0.000000%
X 44926MAP5 939.460272 0.723993 0.000000 0.723993 927.991202 0.921740% 0.923104%
B-1 44926MAL4 995.744752 6.430851 0.740233 7.171084 995.004519 7.750000% 7.750000%
B-2 44926MAM2 995.744756 6.430852 0.740232 7.171084 995.004524 7.750000% 7.750000%
B-3 44926MAN0 995.7447576 6.43085076 0.74023289 7.17108365 995.0045247 0.0775 0.0775
B-4 44926MAQ3 995.7447483 6.43085151 0.740230705 7.171082215 995.0045176 0.0775 0.0775
B-5 44926MAR1 995.7447544 6.430847861 0.740229794 7.171077655 995.0045246 0.0775 0.0775
B-6 44926MAS9 995.7447461 6.430851005 0.740232157 7.171083162 995.0045139 0.0775 0.0775
R-1 44926MAT7 0 0 0 0 0 0.0775 0.0775
R-2 44926MAU4 0 0 0 0 0 0.0775 0.0775
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: October 27, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC II
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>
II-A-1 32,898,000.00 23,963,509.73 172,567.59 1,690,227.61 1,862,795.20 0.00 0.00 22,273,282.12
II-A-2 67,450,000.00 59,944,843.48 431,678.72 1,419,826.13 1,851,504.85 0.00 0.00 58,525,017.35
II-A-3 19,379,000.00 19,379,000.00 139,553.32 0.00 139,553.32 0.00 0.00 19,379,000.00
II-A-4 21,578,000.00 21,578,000.00 155,388.90 0.00 155,388.90 0.00 0.00 21,578,000.00
II-A-5 15,706,000.00 15,706,000.00 113,103.07 0.00 113,103.07 0.00 0.00 15,706,000.00
II-A-6 16,675,000.00 16,675,000.00 120,081.10 0.00 120,081.10 0.00 0.00 16,675,000.00
II-A-7 22,209,000.00 22,209,000.00 159,932.90 0.00 159,932.90 0.00 0.00 22,209,000.00
II-A-8 5,512,000.00 5,512,000.00 39,693.37 0.00 39,693.37 0.00 0.00 5,512,000.00
II-A-9 6,672,000.00 6,672,000.00 48,046.84 0.00 48,046.84 0.00 0.00 6,672,000.00
II-A-10 56,121,000.00 56,121,000.00 404,142.21 0.00 404,142.21 0.00 0.00 56,121,000.00
II-PO 162,446.00 160,299.85 0.00 327.70 327.70 0.00 0.00 159,972.15
II-B-1 6,311,000.00 6,284,145.13 45,253.80 4,671.61 49,925.41 0.00 0.00 6,279,473.52
II-B-2 2,805,000.00 2,793,064.04 20,113.60 2,076.35 22,189.95 0.00 0.00 2,790,987.69
II-B-3 2,104,000.00 2,095,046.97 15,086.99 1,557.45 16,644.44 0.00 0.00 2,093,489.52
II-B-4 2,384,000.00 2,373,855.48 17,094.76 1,764.71 18,859.47 0.00 0.00 2,372,090.77
II-B-5 1,262,000.00 1,256,629.88 9,049.33 934.17 9,983.50 0.00 0.00 1,255,695.71
II-B-6 1262766 1257392.61 9054.8178 934.74 9989.5578 0 0 1256457.87
II-R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 263,980,787.17 1,899,841.33 3,122,320.47 5,022,161.80 0.00 0.00 260,858,466.70
- ------------------------------------------------------------------------------------------------------------------------------------
</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>
II-A-1 IC9701201 728.418437 5.245534 51.377823 56.623357 677.040614 8.641518% 8.639567%
II-A-2 IC9701202 888.730074 6.399981 21.050054 27.450035 867.680020 8.641518% 8.639567%
II-A-3 IC9701203 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-4 IC9701204 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-5 IC9701205 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-6 IC9701206 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-7 IC9701207 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-8 IC9701208 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-9 IC9701209 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-A-10 IC9701210 1,000.000000 7.201265 0.000000 7.201265 1,000.000000 8.641518% 8.639567%
II-PO IC9701213 986.788533 0.000000 2.017286 2.017286 984.771247 0.000000% 0.000000%
II-B-1 IC9701215 995.744752 0.717062 0.740233 1.457295 995.004519 8.641518% 8.639567%
II-B-2 IC9701216 995.744756 0.717062 0.740232 1.457294 995.004524 8.641518% 8.639567%
II-B-3 IC9701217 995.744758 0.717062 0.740233 1.457295 995.004525 8.641518% 8.639567%
II-B-4 IC9701218 995.7447483 0.717062215 0.740230705 1.457292919 995.0045176 0.086415184 0.086395674
II-B-5 IC9701219 995.7447544 0.717062219 0.740229794 1.457292013 995.0045246 0.086415184 0.086395674
II-B-6 IC9701220 995.7447461 0.717062211 0.740232157 1.457294368 995.0045139 0.086415184 0.086395674
II-R-1 IC9701221 0 0 0 0 0 0 0
R-2 IC9701222 0 0 0 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: October 27, 1997 FACTOR INFORMATION: (800) 735-7777
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 27, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
Class Interest Accrued Interest Shortfall
-------------------- -------------------- -----------------------
<S> <C> <C>
A-1 133,796.26 0.00
A-2 449,586.33 0.00
A-3 110,621.79 0.00
A-4 125,871.67 0.00
A-5 94,236.00 0.00
A-6 101,439.58 0.00
A-7 143,433.13 0.00
A-8 35,598.33 0.00
A-9 43,090.00 0.00
A-10 362,448.13 0.00
X 195,998.42 0.00
B-1 40,585.10 0.00
B-2 18,038.54 0.00
B-3 13,530.51 0.00
B-4 15,331.15 0.00
B-5 8,115.73 0.00
B-6 8,120.66 0.00
R-1 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Monthly Interest Advanced 312,071.03
Monthly Principal Advanced 28,505.74
Compensatory Interest Payments made by Master Servicer 11,819.55
Realized Losses
a) Due to Deficient Valuations 0.00
b) Liquidated Mortgage Loans 0.00
Scheduled Principal 196,470.08
Principal Prepayments
a) Received from Liquidated Mortgage Loans 0.00
b) All other principal received during related Prepayment Period 2,925,850.39
c) Principal amount received from Net Liquidation Proceeds 0.00
Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1825
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- -----------------------------------------------------------------------------------------------------------------------------
Distribution Date: October 27, 1997
- -----------------------------------------------------------------------------------------------------------------------------
DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER
INFORMATION DAYS DAYS DAYS TOTAL:
<S> <C> <C> <C> <C>
SCHEDULED PRINCIPAL BALANCE 3,876,870.36 421,202.47 237,195.67 4,535,268.50
NUMBER OF LOANS 26 3 1 30
LOANS IN FORECLOSURE
SCHEDULED PRINCIPAL BALANCE 0.00 246,257.73 2,245,715.89 2,580,359.84
NUMBER OF LOANS 0 2 10 13
LOANS IN BANKRUPTCY
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
LOANS IN REO STATUS
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Book Value of all REO Property 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
AGGREGATE REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS
- ------------------------------------------------------------------------------------------------------------------------------------
A-2 0.00
A-3 0.00
A-4 0.00
A-5 0.00
A-6 0.00
A-7 0.00
A-8 0.00
A-9 0.00
A-10 0.00
PO 0.00
X 0.00
B-1 0.00
B-3 0.00
B-4 0.00
B-5 0.00
B-6 0.00
R-1 0.00
R-2 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Applicable Senior Percentage 93.92%
Applicable Subordinate Percentage 6.08%
Applicable Senior Prepayment Percentage 100.00%
Applicable Subordinate Prepayment Percentage 0.00%
Weighted Average Coupon Rate 8.90%
Weighted Average Months to Maturity 339
- --------------------------------------------------------------------------------
Page 4 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
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>
A-1 32,898,000.00 22,273,282.12 124,359.16 2,427,156.17 2,551,515.33 0.00 0.00 19,846,125.95
A-2 67,450,000.00 58,525,017.35 438,937.63 2,038,861.36 2,477,798.99 0.00 0.00 56,486,155.99
A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 110,621.79 0.00 0.00 19,379,000.00
A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 125,871.67 0.00 0.00 21,578,000.00
A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 94,236.00 0.00 0.00 15,706,000.00
A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 101,439.58 0.00 0.00 16,675,000.00
A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 143,433.13 0.00 0.00 22,209,000.00
A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 35,598.33 0.00 0.00 5,512,000.00
A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 43,090.00 0.00 0.00 6,672,000.00
A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 362,448.13 0.00 0.00 56,121,000.00
PO 162,446.00 159,972.15 0.00 6,612.30 6,612.30 0.00 0.00 153,359.85
X 270,718,591.23 251,224,470.97 194,193.76 0.00 194,193.76 0.00 0.00 247,104,946.42
B-1 6,311,000.00 6,279,473.52 40,554.93 4,714.04 45,268.97 0.00 0.00 6,274,759.48
B-2 2,805,000.00 2,790,987.69 18,025.13 2,095.21 20,120.34 0.00 0.00 2,788,892.48
B-3 2,104,000.00 2,093,489.52 13,520.45 1,571.59 15,092.04 0.00 0.00 2,091,917.93
B-4 2,384,000.00 2,372,090.77 15,319.75 1,780.74 17,100.49 0.00 0.00 2,370,310.03
B-5 1262000 1255695.71 8109.7 942.66 9052.36 0 0 1254753.05
B-6 1262766 1256457.87 8114.62 943.23 9057.85 0 0 1255514.64
R-1 100 0 0 0 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,312.00 260,858,466.70 1,877,873.76 4,484,677.30 6,362,551.06 0.00 0.00 256,373,789.40
- ------------------------------------------------------------------------------------------------------------------------------------
</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>
A-1 44926MAA8 677.040614 3.780143 73.778229 77.558372 603.262385 6.700000% 6.700000%
A-2 44926MAB6 867.680020 6.507600 30.227744 36.735345 837.452276 9.000000% 9.000000%
A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 1,000.000000 6.850000% 6.850000%
A-4 44926MAD2 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
A-5 44926MAE0 1,000.000000 6.000000 0.000000 6.000000 1,000.000000 7.200000% 7.200000%
A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 1,000.000000 7.300000% 7.300000%
A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 1,000.000000 7.750000% 7.750000%
A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
PO 44926MAV2 984.771247 0.000000 40.704603 40.704603 944.066644 0.000000% 0.000000%
X 44926MAP5 927.991202 0.717327 0.000000 0.717327 912.774203 0.923074% 0.925908%
B-1 44926MAL4 995.004519 6.426070 0.746956 7.173026 994.257563 7.750000% 7.750000%
B-2 44926MAM2 995.004524 6.426071 0.746955 7.173027 994.257569 7.750000% 7.750000%
B-3 44926MAN0 995.0045247 6.426069392 0.746953422 7.173022814 994.2575713 0.0775 0.0775
B-4 44926MAQ3 995.0045176 6.426069631 0.746954698 7.173024329 994.2575629 0.0775 0.0775
B-5 44926MAR1 995.0045246 6.426069731 0.746957211 7.173026941 994.2575674 0.0775 0.0775
B-6 44926MAS9 995.0045139 6.426067854 0.746955493 7.173023347 994.2575584 0.0775 0.0775
R-1 44926MAT7 0 0 0 0 0 0.0775 0.0775
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC II
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>
II-A-1 32,898,000.00 22,273,282.12 160,439.79 2,427,156.17 2,587,595.96 0.00 0.00 19,846,125.95
II-A-2 67,450,000.00 58,525,017.35 421,569.73 2,038,861.36 2,460,431.09 0.00 0.00 56,486,155.99
II-A-3 19,379,000.00 19,379,000.00 139,591.58 0.00 139,591.58 0.00 0.00 19,379,000.00
II-A-4 21,578,000.00 21,578,000.00 155,431.51 0.00 155,431.51 0.00 0.00 21,578,000.00
II-A-5 15,706,000.00 15,706,000.00 113,134.08 0.00 113,134.08 0.00 0.00 15,706,000.00
II-A-6 16,675,000.00 16,675,000.00 120,114.02 0.00 120,114.02 0.00 0.00 16,675,000.00
II-A-7 22,209,000.00 22,209,000.00 159,976.75 0.00 159,976.75 0.00 0.00 22,209,000.00
II-A-8 5,512,000.00 5,512,000.00 39,704.26 0.00 39,704.26 0.00 0.00 5,512,000.00
II-A-9 6,672,000.00 6,672,000.00 48,060.02 0.00 48,060.02 0.00 0.00 6,672,000.00
II-A-10 56,121,000.00 56,121,000.00 404,253.02 0.00 404,253.02 0.00 0.00 56,121,000.00
II-PO 162,446.00 159,972.15 0.00 6,612.30 6,612.30 0.00 0.00 153,359.85
II-B-1 6,311,000.00 6,279,473.52 45,232.55 4,714.04 49,946.59 0.00 0.00 6,274,759.48
II-B-2 2,805,000.00 2,790,987.69 20,104.15 2,095.21 22,199.36 0.00 0.00 2,788,892.48
II-B-3 2,104,000.00 2,093,489.52 15,079.91 1,571.59 16,651.50 0.00 0.00 2,091,917.93
II-B-4 2,384,000.00 2,372,090.77 17,086.74 1,780.74 18,867.48 0.00 0.00 2,370,310.03
II-B-5 1,262,000.00 1,255,695.71 9,045.08 942.66 9,987.74 0.00 0.00 1,254,753.05
II-B-6 1262766 1256457.87 9050.5673 943.23 9993.7973 0 0 1255514.64
II-R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 260,858,466.70 1,877,873.76 4,484,677.30 6,362,551.06 0.00 0.00 256,373,789.40
- -----------------------------------------------------------------------------------------------------------------------------------
</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>
II-A-1 IC9701201 677.040614 4.876886 73.778229 78.655115 603.262385 8.643888% 8.642978%
II-A-2 IC9701202 867.680020 6.250107 30.227744 36.477852 837.452276 8.643888% 8.642978%
II-A-3 IC9701203 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-4 IC9701204 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-5 IC9701205 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-6 IC9701206 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-7 IC9701207 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-8 IC9701208 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-9 IC9701209 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-A-10 IC9701210 1,000.000000 7.203240 0.000000 7.203240 1,000.000000 8.643888% 8.642978%
II-PO IC9701213 984.771247 0.000000 40.704603 40.704603 944.066644 0.000000% 0.000000%
II-B-1 IC9701215 995.004519 0.716726 0.746956 1.463682 994.257563 8.643888% 8.642978%
II-B-2 IC9701216 995.004524 0.716726 0.746955 1.463681 994.257569 8.643888% 8.642978%
II-B-3 IC9701217 995.004525 0.716726 0.746953 1.463679 994.257571 8.643888% 8.642978%
II-B-4 IC9701218 995.0045176 0.716725608 0.746954698 1.463680306 994.2575629 0.086438877 0.086429775
II-B-5 IC9701219 995.0045246 0.71672561 0.746957211 1.463682821 994.2575674 0.086438877 0.086429775
II-B-6 IC9701220 995.0045139 0.716725609 0.746955493 1.463681102 994.2575584 0.086438877 0.086429775
II-R-1 IC9701221 0 0 0 0 0 0 0
R-2 44926MAU4 0 0 0 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1997 FACTOR INFORMATION: (800) 735-7777
- ---------------------
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 25, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
Class Interest Accrued Interest Shortfall
- -------------------- -------------------- -----------------------
<S> <C> <C>
A-1 124,359.16 0.00
A-2 438,937.63 0.00
A-3 110,621.79 0.00
A-4 125,871.67 0.00
A-5 94,236.00 0.00
A-6 101,439.58 0.00
A-7 143,433.13 0.00
A-8 35,598.33 0.00
A-9 43,090.00 0.00
A-10 362,448.13 0.00
X 194,193.76 0.00
B-1 40,554.93 0.00
B-2 18,025.13 0.00
B-3 13,520.45 0.00
B-4 15,319.75 0.00
B-5 8,109.70 0.00
B-6 8,114.62 0.00
R-1 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Monthly Interest Advanced 369,163.65
Monthly Principal Advanced 34,713.40
Compensatory Interest Payments made by Master Servicer 11,161.64
Realized Losses
a) Due to Deficient Valuations 0.00
b) Liquidated Mortgage Loans 0.00
Scheduled Principal 196,051.48
Principal Prepayments
a) Received from Liquidated Mortgage Loans 0.00
b) All other principal received during related Prepayment Period 4,288,625.82
c) Principal amount received from Net Liquidation Proceeds 0.00
Number of Mortgage Loans (excluding REO Property) remaining as of the
end related Due Period: 1803
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------------------------------------------------
Distribution Date: November 25, 1997
- --------------------------------------------------------------------------------------------------------------------------
DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER
INFORMATION DAYS DAYS DAYS TOTAL:
<S> <C> <C> <C> <C>
SCHEDULED PRINCIPAL BALANCE 3,019,132.93 273,352.11 0.00 3,292,485.04
NUMBER OF LOANS 20 2 0 22
LOANS IN FORECLOSURE
SCHEDULED PRINCIPAL BALANCE 0.00 187,719.52 2,386,205.28 2,743,742.11
NUMBER OF LOANS 0 2 12 15
LOANS IN BANKRUPTCY
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 335,493.32 335,493.32
NUMBER OF LOANS 0 0 1 1
LOANS IN REO STATUS
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Book Value of all REO Property 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
AGGREGATE REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS
- -----------------------------------------------------------------------------------------------------------------------------------
A-2 0.00
A-3 0.00
A-4 0.00
A-5 0.00
A-6 0.00
A-7 0.00
A-8 0.00
A-9 0.00
A-10 0.00
PO 0.00
X 0.00
B-1 0.00
B-3 0.00
B-4 0.00
B-5 0.00
B-6 0.00
R-1 0.00
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C>
Applicable Senior Percentage 93.85%
Applicable Subordinate Percentage 6.15%
Applicable Senior Prepayment Percentage 100.00%
Applicable Subordinate Prepayment Percentage 0.00%
Weighted Average Coupon Rate 8.90%
Weighted Average Months to Maturity 337
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
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>
A-1 32,898,000.00 19,846,125.95 110,807.54 1,927,529.31 2,038,336.85 0.00 0.00 17,918,596.64
A-2 67,450,000.00 56,486,155.99 423,646.17 1,619,164.46 2,042,810.63 0.00 0.00 54,866,991.53
A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 110,621.79 0.00 0.00 19,379,000.00
A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 125,871.67 0.00 0.00 21,578,000.00
A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 94,236.00 0.00 0.00 15,706,000.00
A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 101,439.58 0.00 0.00 16,675,000.00
A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 143,433.13 0.00 0.00 22,209,000.00
A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 35,598.33 0.00 0.00 5,512,000.00
A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 43,090.00 0.00 0.00 6,672,000.00
A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 362,448.13 0.00 0.00 56,121,000.00
PO 162,446.00 153,359.85 0.00 755.40 755.40 0.00 0.00 152,604.45
X 270,718,591.23 247,104,946.42 191,398.02 0.00 191,398.02 0.00 0.00 243,652,986.88
B-1 6,311,000.00 6,274,759.48 40,524.49 4,796.58 45,321.07 0.00 0.00 6,269,962.90
B-2 2,805,000.00 2,788,892.48 18,011.60 2,131.90 20,143.50 0.00 0.00 2,786,760.58
B-3 2,104,000.00 2,091,917.93 13,510.30 1,599.12 15,109.42 0.00 0.00 2,090,318.81
B-4 2,384,000.00 2,370,310.03 15,308.25 1,811.93 17,120.18 0.00 0.00 2,368,498.10
B-5 1262000 1254753.05 8103.61 959.17 9062.78 0 0 1253793.88
B-6 1262766 1255514.64 8108.53 959.75 9068.28 0 0 1254554.89
R-1 100 0 0 0 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,312.00 256,373,789.40 1,846,157.14 3,559,707.62 5,405,864.76 0.00 0.00 252,814,081.78
- ------------------------------------------------------------------------------------------------------------------------------------
</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>
A-1 44926MAA8 603.262385 3.368215 58.591079 61.959294 544.671306 6.700000% 6.700000%
A-2 44926MAB6 837.452276 6.280892 24.005403 30.286295 813.446872 9.000000% 9.000000%
A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 1,000.000000 6.850000% 6.850000%
A-4 44926MAD2 1,000.000000 5.833333 0.000000 5.833333 1,000.000000 7.000000% 7.000000%
A-5 44926MAE0 1,000.000000 6.000000 0.000000 6.000000 1,000.000000 7.200000% 7.200000%
A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 1,000.000000 7.300000% 7.300000%
A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 1,000.000000 7.750000% 7.750000%
A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 1,000.000000 7.750000% 7.750000%
PO 44926MAV2 944.066644 0.000000 4.650161 4.650161 939.416483 0.000000% 0.000000%
X 44926MAP5 912.774203 0.707000 0.000000 0.707000 900.023104 0.925877% 0.924989%
B-1 44926MAL4 994.257563 6.421247 0.760035 7.181282 993.497528 7.750000% 7.750000%
B-2 44926MAM2 994.257569 6.421248 0.760036 7.181283 993.497533 7.750000% 7.750000%
B-3 44926MAN0 994.2575713 6.421245247 0.760038023 7.18128327 993.4975333 0.0775 0.0775
B-4 44926MAQ3 994.2575629 6.421245805 0.760037752 7.181283557 993.4975252 0.0775 0.0775
B-5 44926MAR1 994.2575674 6.421244057 0.76003962 7.181283677 993.4975277 0.0775 0.0775
B-6 44926MAS9 994.2575584 6.421245108 0.760037885 7.181282993 993.4975205 0.0775 0.0775
R-1 44926MAT7 0 0 0 0 0 0.0775 0.0775
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: November 28, 1997 Irvine, CA 92714
DISTRIBUTION DATE: December 26, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC II
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>
II-A-1 32,898,000.00 19,846,125.95 142,998.23 1,927,529.31 2,070,527.54 0.00 0.00 17,918,596.64
II-A-2 67,450,000.00 56,486,155.99 407,002.36 1,619,164.46 2,026,166.82 0.00 0.00 54,866,991.53
II-A-3 19,379,000.00 19,379,000.00 139,632.42 0.00 139,632.42 0.00 0.00 19,379,000.00
II-A-4 21,578,000.00 21,578,000.00 155,476.98 0.00 155,476.98 0.00 0.00 21,578,000.00
II-A-5 15,706,000.00 15,706,000.00 113,167.18 0.00 113,167.18 0.00 0.00 15,706,000.00
II-A-6 16,675,000.00 16,675,000.00 120,149.16 0.00 120,149.16 0.00 0.00 16,675,000.00
II-A-7 22,209,000.00 22,209,000.00 160,023.56 0.00 160,023.56 0.00 0.00 22,209,000.00
II-A-8 5,512,000.00 5,512,000.00 39,715.87 0.00 39,715.87 0.00 0.00 5,512,000.00
II-A-9 6,672,000.00 6,672,000.00 48,074.08 0.00 48,074.08 0.00 0.00 6,672,000.00
II-A-10 56,121,000.00 56,121,000.00 404,371.29 0.00 404,371.29 0.00 0.00 56,121,000.00
II-PO 162,446.00 153,359.85 0.00 755.40 755.40 0.00 0.00 152,604.45
II-B-1 6,311,000.00 6,274,759.48 45,211.82 4,796.58 50,008.40 0.00 0.00 6,269,962.90
II-B-2 2,805,000.00 2,788,892.48 20,094.94 2,131.90 22,226.84 0.00 0.00 2,786,760.58
II-B-3 2,104,000.00 2,091,917.93 15,072.99 1,599.12 16,672.11 0.00 0.00 2,090,318.81
II-B-4 2,384,000.00 2,370,310.03 17,078.91 1,811.93 18,890.84 0.00 0.00 2,368,498.10
II-B-5 1,262,000.00 1,254,753.05 9,040.93 959.17 10,000.10 0.00 0.00 1,253,793.88
II-B-6 1262766 1255514.64 9046.4188 959.75 10006.1688 0 0 1254554.89
II-R-1 100 0 0 0 0 0 0 0
R-2 100 0 0 0 0 0 0 0
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 280,491,412.00 256,373,789.40 1,846,157.14 3,559,707.62 5,405,864.76 0.00 0.00 252,814,081.78
- ------------------------------------------------------------------------------------------------------------------------------------
</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>
II-A-1 IC9701201 603.262385 4.346715 58.591079 62.937794 544.671306 8.646417% 8.642020%
II-A-2 IC9701202 837.452276 6.034134 24.005403 30.039538 813.446872 8.646417% 8.642020%
II-A-3 IC9701203 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-4 IC9701204 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-5 IC9701205 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-6 IC9701206 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-7 IC9701207 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-8 IC9701208 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-9 IC9701209 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-A-10 IC9701210 1,000.000000 7.205347 0.000000 7.205347 1,000.000000 8.646417% 8.642020%
II-PO IC9701213 944.066644 0.000000 4.650161 4.650161 939.416483 0.000000% 0.000000%
II-B-1 IC9701215 994.257563 0.716397 0.760035 1.476432 993.497528 8.646417% 8.642020%
II-B-2 IC9701216 994.257569 0.716397 0.760036 1.476433 993.497533 8.646417% 8.642020%
II-B-3 IC9701217 994.257571 0.716397 0.760038 1.476435 993.497533 8.646417% 8.642020%
II-B-4 IC9701218 994.2575629 0.716397089 0.760037752 1.476434841 993.4975252 0.086464166 0.086420195
II-B-5 IC9701219 994.2575674 0.716397092 0.76003962 1.476436712 993.4975277 0.086464166 0.086420195
II-B-6 IC9701220 994.2575584 0.716397084 0.760037885 1.476434969 993.4975205 0.086464166 0.086420195
II-R-1 IC9701221 0 0 0 0 0 0 0
R-2 44926MAU4 0 0 0 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joseph Murphy
SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company
LEAD UNDERWRITER: Morgan Stanley & Co. 3 Park Plaza
RECORD DATE: November 28, 1997 Irvine, CA 92714
DISTRIBUTION DATE: December 26, 1997 FACTOR INFORMATION: (800) 735-7777
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
Class Interest Accrued Interest Shortfall
- -------------------- -------------------- -----------------------
<S> <C> <C>
A-1 110,807.54 0.00
A-2 423,646.17 0.00
A-3 110,621.79 0.00
A-4 125,871.67 0.00
A-5 94,236.00 0.00
A-6 101,439.58 0.00
A-7 143,433.13 0.00
A-8 35,598.33 0.00
A-9 43,090.00 0.00
A-10 362,448.13 0.00
X 191,398.02 0.00
B-1 40,524.49 0.00
B-2 18,011.60 0.00
B-3 13,510.30 0.00
B-4 15,308.25 0.00
B-5 8,103.61 0.00
B-6 8,108.53 0.00
R-1 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Monthly Interest Advanced 460,173.44
Monthly Principal Advanced 44,454.33
Compensatory Interest Payments made by Master Servicer 14,079.64
Realized Losses
a) Due to Deficient Valuations 0.00
b) Liquidated Mortgage Loans 0.00
Scheduled Principal 196,204.93
Principal Prepayments
a) Received from Liquidated Mortgage Loans 0.00
b) All other principal received during related Prepayment Period 3,363,502.69
c) Principal amount received from Net Liquidation Proceeds 0.00
Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1784
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ICIFC SECURED ASSETS CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
- ------------------------------------------------------------------------------------------------------------------------------------
Distribution Date: December 26, 1997
- ------------------------------------------------------------------------------------------------------------------------------------
DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER
INFORMATION DAYS DAYS DAYS TOTAL:
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
SCHEDULED PRINCIPAL BALANCE 3,786,021.68 310,020.98 124,319.44 4,220,362.10
NUMBER OF LOANS 24 3 1 28
LOANS IN FORECLOSURE
SCHEDULED PRINCIPAL BALANCE 147,208.82 224,315.86 2,273,369.01 2,851,943.40
NUMBER OF LOANS 1 2 12 16
LOANS IN BANKRUPTCY
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 335,284.52 335,284.52
NUMBER OF LOANS 0 0 1 1
LOANS IN REO STATUS
SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
NUMBER OF LOANS 0 0 0 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Book Value of all REO Property 0.00
- ----------------------------------------------------------------------------------------------------------------
AGGREGATE REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS
- ------------------------------------------------------------------------------------------------------------------------------------
A-2
A-3 0.00
A-4 0.00
A-5 0.00
A-6 0.00
A-7 0.00
A-8 0.00
A-9 0.00
A-10 0.00
PO 0.00
X 0.00
B-1 0.00
B-3 0.00
B-4 0.00
B-5 0.00
B-6 0.00
R-1 0.00
0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Applicable Senior Percentage 93.75%
Applicable Subordinate Percentage 6.26%
Applicable Senior Prepayment Percentage 100.00%
Applicable Subordinate Prepayment Percentage 0.00%
Weighted Average Coupon Rate 8.90%
Weighted Average Months to Maturity 336
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 4 (C) COPYRIGHT 1997 Bankers Trust Company
