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Previous: CHOICETEL COMMUNICATIONS INC /MN/, 10KSB40/A, 1998-03-31 |
Next: OMEGA ORTHODONTICS INC, NT 10-K, 1998-03-31 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from _______ to _______.
Commission File Number 333-04911-03
------------
IMC HOME EQUITY LOAN TRUST 1997-1
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 13-3929417
- -------------------------------- --------------------
(State of other jurisdiction of (I.R.S. Employer
Incorporation or organization) Identification No.)
c/o The Chase Manhattan Bank
Structured Finance Services
450 West 33rd Street, New York, NY 10001-2697
- --------------------------------------- -------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (813) 984-8801
--------------
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered:
None None
- ------------------------ -----------------------------------------
None
- --------------------------------------------------------------------------------
(Title of class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No .
--- ---
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (s 229.405 of this chapter) is not contained herein,
and will not be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [X]
State the aggregate market value of the voting stock held by
non-affiliates of registrant. The aggregate market value shall be computed by
reference to the price at which the stock was sold, or the average bid and asked
prices of such stock, as of specified date within 60 days prior to the date of
filing:
Not Applicable
Documents Incorporated by Reference:
Not Applicable
<PAGE> 2
IMC HOME EQUITY LOAN TRUST 1997-1
INDEX
<TABLE>
<CAPTION>
Page
<S> <C>
PART I ........................................................... 3
ITEM 1 -- BUSINESS .................................... 3
ITEM 2 -- PROPERTIES .................................. 3
ITEM 3 -- LEGAL PROCEEDINGS ........................... 3
ITEM 4 -- SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS ........................................ 3
PART II .......................................................... 3
ITEM 5 -- MARKET FOR REGISTRANT'S COMMON STOCK AND
RELATED STOCKHOLDER MATTERS .................... 3
ITEM 6 -- SELECTED FINANCIAL DATA ..................... 3
ITEM 7 -- MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS... 3
ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK .................................... 4
ITEM 8 -- FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA . 4
ITEM 9 -- CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
ON ACCOUNTING AND FINANCIAL DISCLOSURE ......... 4
PART III ......................................................... 4
ITEM 10 -- DIRECTORS AND EXECUTIVE OFFICERS OF THE
REGISTRANT ..................................... 4
ITEM 11 -- EXECUTIVE COMPENSATION ...................... 4
ITEM 12 -- SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT .......................... 4
ITEM 13 -- CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS ................................... 9
PART IV .......................................................... 9
ITEM 14 -- EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND
REPORTS ON FORM 8-K ............................ 9
SIGNATURES ...................................................... 11
INDEX TO EXHIBITS ................................................ 12
</TABLE>
-2-
<PAGE> 3
PART I
ITEM 1 - BUSINESS
Not Applicable
ITEM 2 - PROPERTIES
Not Applicable
ITEM 3 - LEGAL PROCEEDINGS
The Depositor is not aware of any material pending legal proceedings
involving either the IMC Home Equity Loan Trust 1997-1 (the "Trust"),
established pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated January 1, 1997, among The Chase Manhattan Bank, as trustee (the
"Trustee"), IMC Securities, Inc., as depositor (the "Depositor") and IMC
Mortgage Company (as successor by merger to Industry Mortgage Company, L.P.), as
servicer (the "Servicer"); the Trustee; the Depositor or the Servicer which
relates to the Trust.
ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter has been submitted to a vote of the holders of beneficial
interests in the Trust through the solicitation of proxies or otherwise.
PART II
ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED
STOCKHOLDER MATTERS
To the best knowledge of the Depositor, there is no established public
trading market for any beneficial interests in the Trust.
All of the Class A-1 Certificates, Class A-2 Certificates, Class A-3
Certificates, Class A- 4 Certificates, Class A-5 Certificates, Class A-6
Certificates, Class A-7 Certificates and Class A- 8 Certificates issued by the
Trust are held by the Depository Trust Company ("DTC") which in turn maintains
records of holders of beneficial interests in such Certificates. Based on
information obtained by the Trust from DTC, as of February 19, 1997, there were
10 holders of the Class A-1 Certificates, 7 holders of the Class A-2
Certificates, 4 holders of the Class A-3 Certificates, 7 holders of the Class
A-4 Certificates, 5 holders of the Class A-5 Certificates, 9 holders of the
Class A-6 Certificates, 1 holders of the Class A-7 Certificates and 7 holders of
the Class A-8 Certificates.
ITEM 6 - SELECTED FINANCIAL DATA
Not Applicable
ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Not Applicable
-3-
<PAGE> 4
ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK
Not Applicable
ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
In addition to the information included in the Annual Compilation of
Monthly Trustee's Statements attached as Exhibit 99.3 hereto, the gross
servicing compensation paid to the Servicer for the year ended December 31, 1997
was $1,462,806.71.
ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE
There were no changes of accountants or disagreements on accounting or
financial disclosures between IMC Mortgage Company (as successor by merger to
Industry Mortgage Company, L.P.) (the "Issuer") and its accountants.
PART III
ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Not Applicable
ITEM 11 - EXECUTIVE COMPENSATION
Not Applicable
ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT
The following table sets forth (I) the name and address of each entity
owning more than 5% of the outstanding principal amount of each Class of Class A
Certificates of the Trust; (ii) the principal amount of the Class of
Certificates owned by each and (iii) the percent that the principal amount of
the Class of Certificates owned by such entity represents of the outstanding
principal amount of such Class of Certificates. The information set forth in the
table for the Class A Certificates is based upon information obtained by the
Trust from DTC and represents ownership of beneficial interest in the
Certificates held by DTC. The Depositor is not aware of any Schedules 13D or 13G
filed with the Securities and Exchange Commission in respect of the
Certificates.
-4-
<PAGE> 5
<TABLE>
<CAPTION>
DTC Participant Number
(Name and Address below) Principal Amount % of Class
- ------------------------ ---------------- ----------
<S> <C> <C>
Class A-1
903 $ 9,500,000 9.99%
2339 $25,000,000 26.29%
954 $28,000,000 29.45%
667 $15,000,000 15.78%
Class A-2
903 $ 4,080,000 13.12%
954 $ 4,125,000 13.27%
987 $15,000,000 48.25%
2128 $ 6,295,000 20.25%
Class A-3
901 $37,000,000 79.83%
903 $ 7,599,000 16.40%
Class A-4
903 $21,000,000 56.24%
902 $ 6,317,000 16.84%
2616 $ 3,000,000 8.00%
2145 $ 4,000,000 10.66%
Class A-5
929 $ 2,870,000 28.51%
2316 $ 6,915,000 68.70%
Class A-6
903 $ 2,800,000 15.65%
2374 $ 5,000,000 27.94%
954 $ 5,947,000 33.23%
931 $ 1,000,000 5.59%
Class A-7
930 $12,000,000 100%
Class A-8
903 $60,919,723 81.23%
2203 $ 5,080,000 6.77%
</TABLE>
<TABLE>
<CAPTION>
DTC Participant Number Name and Address
- ---------------------- ----------------
<S> <C>
10 Brown Brothers Harriman & Co.
63 Wall Street, 8th Floor
New York, NY 10005
30 Prudential Securities Incorporated
Issuer Services c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
50 Morgan Stanley & Co. Incorporated
One Pierrepont Plaza, 7th Floor
Brooklyn, NY 11201
</TABLE>
-5-
<PAGE> 6
<TABLE>
<S> <C>
187 Chase Securities Inc.
55 Water Street, Room 434
New York, NY 10041
274 Salomon Brothers Inc.
8800 Hidden River Parkway
Tampa, FL 33637
352 Bear Stearns Securities Corp.
One Metrotech Center North, 4th Floor
Brooklyn, NY 11201-3862
418 Smith Barney Inc.
333 W. 34th Street
New York, NY 10001
498 Deutsche Morgan Grenfell Inc.
Issuer Services c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
652 PWI CMO Account
1000 Harbor Blvd., 8th Floor
Weehawken, NJ 07087
667 Daiwa Securities Trust Company
One Evertrust Plaza
Jersey City, NJ 07302
901 Bank of New York
925 Patterson Plank Rd.
Secaucus, NJ 07094
902 Chase Manhattan Bank
Trim Supervisor 13th Floor
4 New York Plaza
New York, NY 10004
903 Bankers Trust Company
c/o BT Services Tennessee, Inc.
648 Grassmere Park Drive
Nashville, TN 37211
908 Citicorp Services, Inc.
P.O. Box 30576
Tampa, FL 33630-3576
929 First Union National Bank
401 South Tryon Street
Charlotte, NC 28288
930 Chase Manhattan Bank/Chemical
Proxy Department 13th Floor
4 New York Plaza
New York, NY 10004
937 Fiduciary Trust Company International
Two World Trade Center, 96th Floor
New York, NY 10048-0772
954 Boston Safe Deposit & Trust Co.
c/o Mellon Bank N.A.
Three Mellon Bank Center,Room 153-3015
Pittsburgh, PA 15259
</TABLE>
-6-
<PAGE> 7
<TABLE>
<S> <C>
987 Fiduciary SSB
108 Myrtle Street
Newport Office Bldg.
N. Quincy, MA 02171
991 Central Fidelity Bank
P.O. Box 27602
5th Floor Vault
Richmond, VA 23261
997 SSB-Custodian
Global Corp Action Dept JAB5W
P.P. Box 1631
Boston, MA 02105-1631
2027 Norwest Bank Minnesota, NA
733 Marquette Avenue
Minneapolis, MN 55479-0056
2108 Comerica Bank
Cap.Chg./Proxy 7CBB/MC 3530
Detroit, MI 48275-3530
2116 Fifth Third Bank (The)
Dept. 00850 - Proxy
38 Fountain Square Plaza
Cincinnati, OH 45263
2128 First National Bank of Maryland
Trust Division-Operations Dept. 101-62
25 S. Charles Street
Baltimore, MD 21201
2130 Bank of America Personal Trust
Proxy Unit #38432
555 S. Flower Street, Level C
Los Angeles, CA 90071
2145 Union Bank Of California, N.A.
Safekeeping Department
475 Sansome Street, 11th Floor
San Francisco, CA 94145
2163 Corestates Bank, N.A.
P.O. Box 7618 F.C. #1-9-1-21
Philadelphia, PA 19106-7618
2203 Republic National Bank of NY Investment Account
One Hanson Place, Lower Level
Brooklyn, NY 11243
2215 Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, DE 19890-0001
2219 Star, Bank, National Association, Cincinnati
P.O. Box 1118
Mail Location 6120
Cincinnati, OH 45201-1118
2251 Lasalle National Bank
Issuer Services c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
</TABLE>
-7-
<PAGE> 8
<TABLE>
<S> <C>
2260 Chase Manhattan Bank/Salomon
4 New York Plaza, 21st Floor
New York, NY 10004
2316 National City Bank
1900 East 9th Street
Cleveland, Ohio 44114
2339 BNY/ITC - Dealers Clearance Special
C/O N.A. Schapiro & Co. IN.
One Chase Manhattan Plaza, 58th Floor
New York, NY 10005
2424 Custodial Trust Company
101 Carnegie Center
Princeton, NJ 08540
2438 The Bank of New York/Western Trust Company
One Wall Street
New York, NY 10286
2450 UMB Bank, NA
P.O. Box 419260
Kansas City, MO 64141-6260
2616 PNC Bank, National Association
1835 Market Street
11 Penn Center, 15th Floor
Philadelphia, PA 19103
2669 Northern Trust Company
801 S. Canal C-In
Chicago, IL 60607
2761 Morgan Stanley Trust Company
Investor Communications Services
51 Mercedes Way
Edgewood, NY 11717
2827 Investors Fiduciary Trust Company/SSB
Global Corp Action Dept JAB5W
P.O. Box 1631
Boston, MA 02105-1631
2834 PNC Bank, N.A./Pittsburgh
One PNC Plaza, 9th Floor, 249 5th Avenue
Pittsburgh, PA 15222-7707
5132 Merrill Lynch, Pierce, Fenner & Smith, Inc. - Debt SEC
4 Corporate Place
Corporate Park 287
Piscataway, NJ 08855
</TABLE>
-8-
<PAGE> 9
ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
[None]
Part IV
ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON
FORM 8-K
(a) The following documents are filed as part of this report:
1. Financial Statements:
Not applicable.
2. Financial Statement Schedules:
Not applicable.
3. Exhibits:
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
99.1 Statement of Compliance of the Servicer.
99.2 Annual Report of Independent Accountants
with respect to the Servicer's overall
servicing operations.
99.3 Annual compilation of Monthly Trustee's
Statement.
</TABLE>
(b) Reports on Form 8-K
12 reports on Form 8-K have been filed by the issuer during the period covered
by this report.
<TABLE>
<CAPTION>
Date of Reports on Form 8-K Items Reported/Financial
Statements Filed
<S> <C>
February 25, 1997 Trustee's Monthly Report for the January
Monthly Period.
March 25, 1997 Trustee's Monthly Report for the February
Monthly Period.
April 25, 1997 Trustee's Monthly Report for the March
Monthly Period.
</TABLE>
-9-
<PAGE> 10
<TABLE>
<S> <C>
May 27, 1997 Trustee's Monthly Report for the April
Monthly Period.
June 25, 1997 Trustee's Monthly Report for the May
Monthly Period.
July 25, 1997 Trustee's Monthly Report for the June
Monthly Period.
August 25, 1997 Trustee's Monthly Report for the July
Monthly Period.
September 25, 1997 Trustee's Monthly Report for the August
Monthly Period.
October 27, 1997 Trustee's Monthly Report for the September
Monthly Period.
November 25, 1997 Trustee's Monthly Report for the October
Monthly Period.
December 26, 1997 Trustee's Monthly Report for the November
Monthly Period.
January 26, 1998 Trustee's Monthly Report for the December
Monthly Period.
</TABLE>
-10-
<PAGE> 11
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Depositor has duly caused this Report to be signed on
its behalf by the undersigned, thereunto duly authorized.
By: IMC Securities, Inc.,
As Depositor
By: /s/ Thomas G. Middleton
--------------------------------------
Name: Thomas G. Middleton
Title: President, Chief Operating Officer,
Assistant Secretary and Director
By: /s/ Stuart D. Marvin
--------------------------------------
Name: Stuart D. Marvin
Title: Chief Financial Officer
Date: March 28, 1998
-11-
<PAGE> 12
INDEX TO EXHIBITS
Item 14(C)
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
99.1 Statement of Compliance of the Servicer.
99.2 Annual Report of Independent Accountants
with respect to the Servicer's overall
servicing operations.
99.3 Annual compilation of Monthly Trustee's
Statement.
</TABLE>
-12-
<PAGE> 1
EXHIBIT 99.1
<PAGE> 2
IMC HOME EQUITY LOAN TRUST 1997-1
Officer's Certificate
---------------------
In connection with the above-referenced trust and pursuant to Section 8.16 of
the related Pooling and Servicing Agreement ("Agreement"), IMC Mortgage Company
(as "Servicer"), hereby confirms the following:
(i) a review of the activities of the Servicer during 1997 and of performance
under the Agreement has been made under my supervision; and
(ii) to the best of my knowledge, based on such review, the Servicer has
fulfilled all of its obligations under the Agreement for the calendar year 1997.
IMC Mortgage Company
By: /s/ Thomas G. Middleton
-------------------------------------
Thomas G. Middleton
President & Chief Operating Officer
<PAGE> 1
EXHIBIT 99.2
<PAGE> 2
REPORT OF INDEPENDENT ACCOUNTANTS-UNIFORM SINGLE ATTESTATION PROGRAM
To the Board of Directors of
IMC Mortgage Company and Subsidiaries
We have examined the assertion by IMC Mortgage Company and Subsidiaries'
management about compliance with the minimum servicing standards identified in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers (USAP) as of and for the year ended December 31, 1997
included in the accompanying management assertion. Management is responsible for
IMC Mortgage Company and Subsidiaries' compliance with those minimum servicing
standards. Our responsibility is to express an opinion on management's assertion
about the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accounts and, accordingly, included
examining, on a test basis, evidence about IMC Mortgage Company and
Subsidiaries' compliance with the minimum servicing standards and performing
such other procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on IMC Mortgage Company and
Subsidiaries' compliance with the minimum servicing standards.
In our opinion, management's assertion that IMC Mortgage Company and
Subsidiaries complied with the aforementioned minimum servicing standards as of
and for the year ended December 31, 1997 is fairly stated, in all material
respects.
/S/ COOPERS & LYBRAND L.L.P.
Tampa, Florida
February 20, 1998
<PAGE> 3
[IMC MORTGAGE LETTERHEAD]
March 23, 1998
Coopers & Lybrand
101 East Kennedy Blvd. Suite 1500
Tampa, FL 33602
As of and for the year ended December 31, 1997, IMC Mortgage Company and
Subsidiaries has compiled in all material respects with minimum servicing
standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers. For the period January 1 to
June 30, 1997, IMC Mortgage Company and Subsidiaries had in effect a fidelity
bond policy in the amount of $4,000,000. As of and for the six months ended
December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect a
fidelity bond policy in the amount of $8,000,000. As of and for the year ended
December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect an errors
and omissions policy in the amount of $2,000,000.
/s/ Stuart D. Marvin
-----------------------------------------
Stuart D. Marvin, Chief Financial Officer
<PAGE> 1
EXHIBIT 99.3
<PAGE> 2
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 25-Feb-97
PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 95,086,000.00 3,225,827.70 518,218.70 3,744,046.40 91,860,172.30
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 1,013,425.85 247,787,598.15
A-8 75,000,000.00 75,000,000.00 1,185,134.37 386,203.13 1,571,337.50 73,814,865.63 358,750.72 74,173,616.35
R N/A N/A N/A 0.00 0.00 N/A
- ----------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 325,000,000.00 4,410,962.07 1,808,324.64 6,219,286.71 320,589,037.93 1,372,176.57 321,961,214.50
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- ----------------------------------------------------------------------- ----------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 33.92536967 5.45000000 966.07463033 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 15.80179160 5.14937507 984.19820840 A-8 5.61750000% 5.61750000%
- ----------------------------------------------------------------------- ----------------------------------------
TOTALS 13.5721909846153856 2.12218399999999985 986.427809015384583
- -----------------------------------------------------------------------
==================================================================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
--------------------------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
--------------------------------------------------------------------------------------
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 25-Feb-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 4,693,764.11 1,585,080.61
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 6,219,286.71
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 912,276.23 314,249.75
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 325,000,000.00
CLASS A PRINCIPAL DISTRIBUTION 4,410,962.07
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 320,589,037.93
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 265.93
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 3,744,046.40 39.38
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 1,571,337.50 20.95
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 327,519.82 1.31
PRINCIPAL PREPAYMENTS 1,986,031.65 7.94
SUBORDINATION INCREASE AMOUNT 912,276.23 3.65
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 175,596.04 2.34
PRINCIPAL PREPAYMENTS 695,022.65 9.27
SUBORDINATION INCREASE AMOUNT 314,249.75 4.19
PRIN PREPAY FROM PRE-FUND ACCT 265.93 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 25-Feb-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 247,787,598.15 74,173,616.35
ENDING NUMBER OF LOANS 4231 669
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 91,860,172.30 966.074630334644326
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 73,814,865.63 984.198208399999885
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 1,013,425.85 358,750.72
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.920400% 11.920400%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOAN 0.000000%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 374,892.47 614,024.42
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 140 8,334,871.92 3.36%
60-89 DAYS 60 3,629,865.71 1.46%
90 + DAYS 8 423,241.59 0.17%
------------------------------------------------------------------------------
<CAPTION>
GROUP II
------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 15 1,515,005.20 0.61%
60-89 DAYS 6 798,967.17 0.32%
90 + DAYS 0 0.00 0.00%
------------------------------------------------------------------------------
<CAPTION>
AGGREGATE
------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 155 9,849,877.12 3.98%
60-89 DAYS 66 4,428,832.88 1.79%
90 + DAYS 8 423,241.59 0.17%
*The number and aggrgate principal balance of delinquent loans includes loans in foreclosure and
bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 25-Feb-97 PAGE # 4
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 0 0 0
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 0.00 0.00 0.00
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 0 0 0
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 0.00 0.00 0.00
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 7 1 8
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 483,386.67 87,594.10 570,980.77
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,504 2 1506
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 109,526,391.01 378,993.65 109,905,384.66
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 6 MONTH) 0.00000000% 0.00000000% 0.00000000%
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 60 + DELINQUENCY PERCENTAGE 1.63571839% 1.07715817% 1.50703695%
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
DEPOSIT GROUP I GROUP II
- ---------------------------------------------
<S> <C> <C>
CERTIFICATE ACCOUNT BALANCE 0.00 0.00
INSURED PAYMENT 0.00 0.00
MONTHLY REMITTANCE AMOUNT 4,693,764.11 1,584,814.68
INVESTMENT INCOME EARNED IN CERTIFICATE ACCT 0.00 0.00
CAPITALIZED INTEREST REQUIREMENT TRANSFERRED
FROM THE CAPTIALIZED INTEREST ACCOUNT 0.00 0.00
AMOUNTS TRNAS FROM THE PRE-FUNDING ACCT 0.00 265.93
TOT AVAILABLE CERTIFICATE ACCT BAL 4,693,764.11 1,585,080.61
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS BY PRIORITY:
PAID FROM CERT ALLOCATED FROM TOT AVAIL CERT ACCT
DIST CATEGORY DUE ACCT BALANCE MONTH EXC CASHFLOW UNPAID BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
TRUSTEE FEE 2,683.01 2,683.01 0.00 0.00 5,049,635.73
TRUSTEE REIMBURSABLE EXP 0.00 0.00 0.00 0.00 5,049,635.73
PREMIUM AMOUNT 56,875.00 56,875.00 0.00 0.00 4,992,760.73
AVAILABLE FUND SHORTFALL - I 0.00 0.00 0.00 0.00 4,992,760.73
AVAILABLE FUND SHORTFALL - II 0.00 0.00 0.00 0.00 4,992,760.73
REIM OF CERT INSURER - I 0.00 0.00 0.00 0.00 4,992,760.73
REIM OF CERT INSURER - II 0.00 0.00 0.00 0.00 4,992,760.73
SUBORDINATION INC AMOUNT - I 912,276.23 0.00 912,276.23 0.00 4,992,760.73
SUBORDINATION INC AMOUNT - II 314,249.75 0.00 314,249.75 0.00 4,992,760.73
UNREIM DELINQUENCY ADV AND
UNREIMBURSED SERVICING ADV - I 0.00 0.00 0.00 0.00 4,992,760.73
UNREIM DELINQUENCY ADV AND
UNREIMBURSED SERVICING ADV - II 0.00 0.00 0.00 0.00 4,992,760.73
CLASS A-1 CURRENT INTERST 518,218.70 518,218.70 0.00 0.00 4,474,542.03
CLASS A-2 CURRENT INTEREST 171,491.10 171,491.10 0.00 0.00 4,303,050.93
CLASS A-3 CURRENT INTEREST 263,416.62 263,416.62 0.00 0.00 4,039,634.11
CLASS A-4 CURRENT INTEREST 222,913.51 222,913.51 0.00 0.00 3,616,720,60
CLASS A-5 CURRENT INTEREST 61,732.00 61,732.00 0.00 0.00 3,754,988.60
CLASS A-6 CURRENT INTEREST 113,049.38 113,049.38 0.00 0.00 3,641,939.22
CLASS A-7 CURRENT INTEREST 71,300.00 71,300.00 0.00 0.00 3,570,639.22
CLASS A-8 CURRENT INTEREST 366,203.13 366,203.13 0.00 0.00 3,184,436.09
GROUP I PRINCIPAL
(LESS SUBORDINATION INC.)
- ----------------------------------------------------------------------------------------------------------------------------------
CLASS A7 LOCKOUT DISTRIBUTION AMOUNT 0.00 0.00 0.00 0.00 3,184,436.09
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-1 CPB = 0 2,313,551.47 2,313,551.47 0.00 0.00 870,884.62
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-2 CPB = 0 0.00 0.00 0.00 0.00 870,884.62
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-3 CPB = 0 0.00 0.00 0.00 0.00 870,884.62
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTIONS BY PRIORITY:
AVAIL TOTAL MONTHLY
DIST CATEGORY EXC CASHFLOW DISTRIBUTE TO
- --------------------------------------------------------------------------------------------
<S> <C> <C>
TRUSTEE FEE 1,226,525.98 TRUSTEE
TRUSTEE REIMBURSABLE EXP 1,226,525.98 TRUSTEE
PREMIUM AMOUNT 1,226,525.98 INSURER
AVAILABLE FUND SHORTFALL - I 1,226,525.98
AVAILABLE FUND SHORTFALL - II 1,226,525.98
REIM OF CERT INSURER - I 1,226,525.98 INSURER
REIM OF CERT INSURER - II 1,226,525.98 INSURER
SUBORDINATION INC AMOUNT - I 314,249.75 CLASS A - FIXED
SUBORDINATION INC AMOUNT - II 0.00 CLASS A6
UNREIM DELINQUENCY ADV AND
UNREIMBURSED SERVICING ADV - I 0.00 SERVICER
UNREIM DELINQUENCY ADV AND
UNREIMBURSED SERVICING ADV - II 0.00 SERVICER
CLASS A-1 CURRENT INTERST 0.00 CLASS A-1
CLASS A-2 CURRENT INTEREST 0.00 CLASS A-2
CLASS A-3 CURRENT INTEREST 0.00 CLASS A-3
CLASS A-4 CURRENT INTEREST 0.00 CLASS A-4
CLASS A-5 CURRENT INTEREST 0.00 CLASS A-5
CLASS A-6 CURRENT INTEREST 0.00 CLASS A-6
CLASS A-7 CURRENT INTEREST 0.00 CLASS A-7
CLASS A-8 CURRENT INTEREST 0.00 CLASS A-8
GROUP I PRINCIPAL
(LESS SUBORDINATION INC)
CLASS A7 LOCKOUT DISTRIBUTION AMOUNT 0.00 CLASS A-7
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-1 CPB = 0 0.00 CLASS A-1
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-2 CPB = 0 0.00 CLASS A-2
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-3 CPB = 0 0.00 CLASS A-3
</TABLE>
<PAGE> 7
<TABLE>
<S> <C> <C> <C> <C> <C>
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-5 CPB = 0 0.00 0.00 0.00 0.00 870,884.62
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-6 CPB = 0 0.00 0.00 0.00 0.00 870,884.62
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-7 CPB = 0 0.00 0.00 0.00 0.00 870,884.62
GROUP II PRINCIPAL
(LESS SUBORDINATION INC)
- ------------------------------------------
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-6 CPB = 0 870,884.62 870,884.62 0.00 0.00 0.00
RESIDUAL NET MONTHLY EXCESS CASHFLOW 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------
PRE-FUNDING ACCOUNT
- ------------------------------------------
DEPOSITS:
- ------------------------------------------
PRE-FUNDING ACOUNT BALANCE 98,101.67 125,243.67
INVESTMENT INCOME IN PRE-FUNDING ACCOUNT 0.00 0.00
AVAILABLE PRE-FUNDING ACCOUNT BALANCE 98,101.67 125,243.67
</TABLE>
<TABLE>
<CAPTION>
DISTRIBUTION BY PRIORITY:
DIST CATEGORY DUE PAID UNPAID REM BALANCE DISTRIBUTE TO
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME IN PRE-FUNDING
ACCOUNT 0.00 0.00 0.00 223,345.34 CAP INT ACCT
AGREGATE LOAN BALANCES OF THE SUBSEQUENT
MORTGAGE LOANS SOLD TO THE TRUST 223,345.34 223,079.41 265.93 265.93 DEPOSITOR
REM PRE-FUNDING ACCT BAL 265.93 265.93 0.00 0.00 CERT ACCOUNT
- ------------------------------------------
CAPTIALIZED INT ACCOUNT
- ------------------------------------------
DEPOSITS
- ------------------------------------------
CAPTIALIZED INTEREST ACCOUNT BALANCE 0.00
INVESTMENT INCOME FROM PRE-FUNDING ACCOUNT 0.00
INVESTMENT INCOME IN CAPITALIZED INTEREST ACCOUNT 0.00
AVAILABLE CAPITALIZED INTEREST ACCOUNT BALANCE 0.00
<CAPTION>
DISTRIBUTION BY PRIORITY:
DIST CATEGORY DUE PAID UNPAID REM BALANCE DISTRIBUTE TO
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITALIZED INTEREST REQ 0.00 0.00 0.00 0.00 CERT ACCT
OVERFUNDED INTEREST AMT 0.00 0.00 0.00 0.00 SELLER
REMAINING BALANCE 0.00 0.00 0.00 0.00 SELLER
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-5 CPB = 0 0.00 CLASS A-5
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-6 CPB = 0 0.00 CLASS A-6
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-7 CPB = 0 0.00 CLASS A-7
GROUP II PRINCIPAL
(LESS SUBORDINATION INC)
- ------------------------------------------ -------------------
CLASS A PRINCIPAL DISTRIBUTION AMOUNT
UNTIL CLASS A-6 CPB = 0 0.00 CLASS A-8
RESIDUAL NET MONTHLY EXCESS CASHFLOW 0.00 CLASS R
- ------------------------------------------
PRE-FUNDING ACCOUNT
- ------------------------------------------
DEPOSITS:
- ------------------------------------------
PRE-FUNDING ACOUNT BALANCE
INVESTMENT INCOME IN PRE-FUNDING ACCOUNT
AVAILABLE PRE-FUNDING ACCOUNT BALANCE
DISTRIBUTION BY PRIORITY:
DIST CATEGORY
- ------------------------------------------
INVESTMENT INCOME IN PRE-FUNDING
ACCOUNT
AGREGATE LOAN BALANCES OF THE SUBSEQUENT
MORTGAGE LOANS SOLD TO THE TRUST
REM PRE-FUNDING ACCT BAL
- ------------------------------------------
CAPTIALIZED INT ACCOUNT
- ------------------------------------------
DEPOSITS
- ------------------------------------------
CAPTIALIZED INTEREST ACCOUNT BALANCE
INVESTMENT INCOME FROM PRE-FUNDING ACCOUNT
INVESTMENT INCOME IN CAPITALIZED INTEREST ACCOUNT
AVAILABLE CAPITALIZED INTEREST ACCOUNT BALANCE
DISTRIBUTION BY PRIORITY:
DIST CATEGORY
- ------------------------------------------
CAPITALIZED INTEREST REQ
OVERFUNDED INTEREST AMT
REMAINING BALANCE
</TABLE>
<PAGE> 8
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Mar-97
ORIGINAL BEGINNING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 95,086,000.00 91,860,172.30 4,002,682.59 500,637.94 4,503,320.53
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00
A-8 75,000,000.00 73,814,865.63 1,242,692.99 315,921.23 1,561,614.22
R N/A N/A N/A 4,017.64 4,017.64
- -----------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 320,589,037.93 5,245,375.58 1,727,479.62 6,972,855.20
- -----------------------------------------------------------------------------------------------------------------------------
<CAPTION>
PAGE # 1
ENDING ENDING
CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE AMOUNT BALANCE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 87,857,489.71
A-2 31,086,000.00
A-3 46,349,000.00
A-4 37,517,000.00
A-5 10,065,000.00
A-6 17,897,000.00
A-7 12,000,000.00 1,920,203.18 244,691,692.89
A-8 72,572,172.64 619,116.05 73,191,288.69
R N/A
- --------------------------------------------------------------------------------
TOTALS 315,343,662.35 2,539,319.23 317,882,981.58
- --------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 42.09539354 5.26510675 923.97923680
A-2 0.00000000 5.51666667 1000.00000000
A-3 0.00000000 5.68333341 1000.00000000
A-4 0.00000000 5.94166671 1000.00000000
A-5 0.00000000 6.13333333 1000.00000000
A-6 0.00000000 6.31666648 1000.00000000
A-7 0.00000000 5.94166667 1000.00000000
A-8 16.56923987 4.25228307 967.62896853
- ------------------------------------------------------------------------------
TOTALS 16.13961717 2.09654405 970.2851918
- ------------------------------------------------------------------------------
</TABLE>
PASS THRU RATES
<TABLE>
<CAPTION>
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
- --------------------------------------------------------------------------
<S> <C> <C>
A-1 6.54000000% 6.54000000%
A-2 6.62000000% 6.62000000%
A-3 6.82000000% 6.82000000%
A-4 7.13000000% 7.13000000%
A-5 7.36000000% 7.36000000%
A-6 7.58000000% 7.58000000%
A-7 7.13000000% 7.13000000%
A-8 5.61750000% 5.55500000%
- --------------------------------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
------------------------------------------------
<PAGE> 9
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Mar-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 5,455,539.97 1,576,067.34
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 6,968,837.56
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 906,777.33 260,365.33
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 320,589,037.93
CLASS A PRINCIPAL DISTRIBUTION 5,245,375.58
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 315,343,662.35
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 4,503,320.53 47.36
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 51,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 1,581,614.22 20.82
CLASS R DISTRIBUTION 4,017.64
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 178,082.91 0.71
PRINCIPAL PREPAYMENTS 2,917,822.35 11.67
SUBORDINATION INCREASE AMOUNT 906,777.33 3.63
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 29,155.02 0.39
PRINCIPAL PREPAYMENTS 953,172.64 12.71
SUBORDINATION INCREASE AMOUNT 260,365.33 3.47
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
<PAGE> 10
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Mar-97 PAGE # 3
GROUP I GROUP II
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 244,691,692.89 73,191,288.69
ENDING NUMBER OF LOANS 4180 672
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 87,857,489.71 923.9792368
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 72,572,172.64 967.6259685
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 1,920,203.18 519,116.05
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.912400% 10.090700%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 0.000000%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 347,892.47 613,190.02
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
- --------------------------------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 117 6,599,414.05 2.70%
60-89 DAYS 52 3,754,736.43 1.53%
90 + DAYS 41 2,839,388.16 1.16%
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
GROUP II
- --------------------------------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 18 1,435,704.22 0.59%
60-89 DAYS 11 1,029,066.82 0.42%
90 + DAYS 5 734,000.00 0.30%
- --------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
AGGREGATE
- --------------------------------------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 135 8,035,118.27 3.28%
60-89 DAYS 63 4,783,803.25 1.96%
90 + DAYS 46 3,573,388.16 1.46%
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans in
foreclosure and bankruptcy
<PAGE> 11
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 25-Mar-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 1 0 1
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 46,978.14 0.00 46,978.14
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 1 0 1
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 46,978.14 0.00 46,978.14
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 12 1 13
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 992,114.39 87,554.29 1,079,668.68
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,484 2 1486
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 108,091,779.68 378,863.22 108,470,642.90
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 6 MONTH) 0.00000000% 0.00000000% 0.00000000%
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.43283943% 0.50142579% 1.12412063%
</TABLE>
<PAGE> 12
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Mar-97
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------
RANGE SMM CPR
- -------------------------------------------------------------------------
<S> <C> <C>
FEB 1.20% 13.52%
JAN 0.83% 9.47%
- -------------------------------------------------------------------------
</TABLE>
<PAGE> 13
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Apr-97 PAGE # 1
ORIGINAL BEGINNING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION
<S> <C> <C> <C> <C>
A-1 95,086,000.00 87,857,489.71 4,657,967.24 478,823.32
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00
A-8 75,000,000.00 72,572,172.64 1,754,876.33 362,770.15
R N/A N/A N/A 5,655.02
- ------------------------------------------------------------------------
TOTALS 325,000,000.00 315,343,662.35 6,412,843.57 1,751,151.30
<CAPTION>
ENDING ENDING
TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS DISTRIBUTION BALANCE AMOUNT BALANCE
<S> <C> <C> <C> <C>
A-1 5,136,790.56 83,199,522.47
A-2 171,491.10 31,086,000.00
A-3 263,416.82 46,349,000.00
A-4 222,913.51 37,517,000.00
A-5 61,732.00 10,065,000.00
A-6 113,049.38 17,897,000.00
A-7 71,300.00 12,000,000.00 2,855,918.92 240,969,441.39
A-8 2,117,646.48 70,817,296.31 846,863.67 71,664,159.98
R 5,655.02 N/A
- ------------------------------------------------------------------------------
TOTALS 8,163,994.87 308,930,818.78 3,702,782.59 312,633,601.37
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1000
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C>
A-1 48.98688808 5.03568685 874.99234872
A-2 0.00000000 5.51666667 1000.00000000
A-3 0.00000000 5.68333341 1000.00000000
A-4 0.00000000 5.94166671 1000.00000000
A-5 0.00000000 6.13333333 1000.00000000
A-6 0.00000000 6.31666648 1000.00000000
A-7 0.00000000 5.94166667 1000.00000000
A-8 23.39835107 4.83693533 944.23061747
---------------------------------------------------------------------
TOTALS 19.73182637 2.062240335 950.5563655
</TABLE>
<TABLE>
PASS THRU RATES
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
<S> <C> <C>
A-1 6.54000000% 6.54000000%
A-2 6.62000000% 6.62000000%
A-3 6.82000000% 6.82000000%
A-4 7.13000000% 7.13000000%
A-5 7.36000000% 7.36000000%
A-6 7.58000000% 7.58000000%
A-7 7.13000000% 7.13000000%
A-8 5.61750000% 5.80500000%
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 14
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Apr-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,052,562.14 2,121,176.51
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,158,339.85
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 935,715.74 227,747.62
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 315,343,662.35
CLASS A PRINCIPAL DISTRIBUTION 6,412,843.57
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 308,930,818.78
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) (A)PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B)PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C)PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D)THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,136,790.56 54.02
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 2,117,646.48 28.24
CLASS R DISTRIBUTION 5,655.02
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 217,826.76 0.87
PRINCIPAL PREPAYMENTS 3,504,424.74 14.02
SUBORDINATION INCREASE AMOUNT 935,715.74 3.74
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 32,556.72 0.43
PRINCIPAL PREPAYMENTS 1,494,571.99 19.93
SUBORDINATION INCREASE AMOUNT 227,747.62 3.04
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 15
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Apr-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 240,969,441.39 71,664,159.98
ENDING NUMBER OF LOANS 4126 662
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 83,199,522.47 874.9923487
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 70,817,296.31 944.2306175
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 2,855,918.92 846,863.67
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.906800% 10.218300%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY
LOANS IN GROUP II 6.233000%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 347,892.47 613,190.02
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
GROUP I
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------
30-59 DAYS 153 8,054,962.72 3.34%
60-89 DAYS 46 3,119,561.19 1.29%
90 + DAYS 72 4,984,008.11 2.07%
GROUP II
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------
30-59 DAYS 13 1,359,770.35 0.56%
60-89 DAYS 10 849,206.84 0.35%
90 + DAYS 9 1,028,378.38 0.43%
AGGREGATE
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------
30-59 DAYS 166 9,414,733.07 3.91%
60-89 DAYS 56 3,968,768.03 1.65%
90 + DAYS 81 6,012,386.49 2.50%
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 16
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 25-Apr-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 4 0 4
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 599,870.61 0.00 599,870.61
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 3 0 3
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 552,892.47 0.00 552,892.47
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 19 3 22
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,383,081.99 273,901.66 1,656,983.65
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,458 1 1459
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 105,786,304.81 270,969.39 106,057,274.20
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.13317261% 0.81261612% 1.12331356%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 17
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 83,199,522.47 4,607,636.37 453,437.40 5,061,073.77 78,591,886.10
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 3,760,367.28 237,266,253.38
A-8 75,000,000.00 70,817,296.31 1,844,031.42 369,351.54 2,213,382.96 68,973,264.89 1,059,126.13 70,032,391.02
R N/A N/A N/A 3,984.15 3,984.15 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 308,930,818.78 6,451,667.79 1,730,675.90 8,182,343.69 302,479,150.99 4,819,493.41 307,298,644.40
- ------------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- ---------------------------------------------------------- ------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 48.45756862 4.76870833 826.53478009 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 24.58708560 4.92468720 919.64353187 A-8 5.61750000% 5.86750000%
------------------------------------------------
- ----------------------------------------------------------
TOTALS 19.85128551 2.022875226 930.70508
- ----------------------------------------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
--------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
--------------------------------------------------------
<PAGE> 18
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
=============================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 5,974,950.15 2,216,291.27
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,178,359.54
GROUP I GROUP II
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 904,448.36 212,262.46
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 308,930,818.78
CLASS A PRINCIPAL DISTRIBUTION 6,451,667.79
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 302,479,150.99
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,061,073.77 53.23
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 2,213,382.96 29.51
CLASS R DISTRIBUTION 3,984.15
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 88,002.98 0.35
PRINCIPAL PREPAYMENTS 3,615,185.03 14.46
SUBORDINATION INCREASE AMOUNT 904,448.36 3.62
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 27,947.40 0.37
PRINCIPAL PREPAYMENTS 1,603,821.56 21.38
SUBORDINATION INCREASE AMOUNT 212,262.46 2.83
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
<PAGE> 19
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
====================================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 237,266,253.38 70,032,391.02
ENDING NUMBER OF LOANS 4,060 652
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 78,591,886.10 826.5347801
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 68,973,264.89 919.6435319
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 3,760,367.28 1,059,126.13
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.900300% 10.272400%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN
GROUP II 6.275400%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 374,674.17 612,344.10
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF
DELINQUENT MORTGAGE LOANS:*
</TABLE>
GROUP I
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 134 7,744,362.20 3.26%
60-89 DAYS 49 2,739,841.74 1.15%
90 + DAYS 90 5,959,497.64 2.51%
-------------------------------------------------------------------------------
</TABLE>
GROUP II
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 24 2,146,419.40 0.90%
60-89 DAYS 4 549,151.58 0.23%
90 + DAYS 16 1,411,164.65 0.59%
-------------------------------------------------------------------------------
</TABLE>
AGGREGATE
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 158 9,890,781.60 4.17%
60-89 DAYS 53 3,288,993.32 1.39%
90 + DAYS 106 7,370,662.29 3.11%
-------------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent
loans includes loans in foreclosure and bankruptcy
<PAGE> 20
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
====================================================================================================================================
PAGE # 4
DISTRIBUTION: 27-May-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 30 6 36
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,825,850.44 414,927.99 2,240,778.43
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 28 6 34
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,753,940.70 414,927.99 2,168,868.69
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 22 4 26
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,602,675.78 329,583.82 1,932,259.60
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,431 1 1,432
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 104,037,279.35 270,871.70 104,308,151.05
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.47781301% 1.11321636% 1.43287412%
</TABLE>
<PAGE> 21
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Jun-97
PAGE #1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 78,591,886.10 5,122,244.08 428,325.78 5,550,569.86 73,469,642.02
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 4,593,516.41 232,977,158.43
A-8 75,000,000.00 68,973,264.89 2,220,809.64 326,008.84 2,546,818.48 66,752,455.25 1,291,617.20 68,044,072.45
R N/A N/A N/A 4,455.20 4,455.20 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 302,479,150.99 7,343,053.72 1,662,692.63 9,005,746.35 295,136,097.27 5,885,133.61 301,021,230.88
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- ----------------------------------------------------------- --------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 53.86959258 4.50461456 772.66518751 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 29.61079520 4.34678453 890.03273667 A-8 5.61750000% 5.86750000%
--------------------------------------------
- -----------------------------------------------------------
TOTALS 22.59401145 1.983002392 908.1110685
- -----------------------------------------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
----------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
----------------------------------------------------------------------
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 22
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Jun-97 PAGE # 2
GROUP I GROUP II
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,513,880.96 2,564,463.24
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 9,001,291.15
GROUP I GROUP II
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 833,149.13 232,491.07
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 302,479,150.99
CLASS A PRINCIPAL DISTRIBUTION 7,343,053.72
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 295,136,097.27
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,550,569.86 58.37
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 2,546,818.48 33.96
CLASS R DISTRIBUTION 4,455.20
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 207,783.69 0.83
PRINCIPAL PREPAYMENTS 4,081,311.26 16.33
SUBORDINATION INCREASE AMOUNT 833,149.13 3.33
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 39,750.84 0.53
PRINCIPAL PREPAYMENTS 1,948,567.73 25.98
SUBORDINATION INCREASE AMOUNT 232,491.07 3.10
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 23
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 25-Jun-97 PAGE # 3
GROUP I GROUP II
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 232,977,158.43 68,044,072.45
ENDING NUMBER OF LOANS 3987 636
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 73,469,642.02 772.6651875
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 66,752,455.25 890.0327367
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 4,593,516.41 1,291,617.20
SUBORDINATION DEFICIT 0.00 0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.893700% 10.354800%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.279600%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 374,353.02 611,916.78
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
---------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 172 9,430,656.01 4.05%
60-89 DAYS 32 1,821,375.10 0.78%
90 + DAYS 105 6,732,592.50 2.89%
---------------------------------------------------------------------
<CAPTION>
GROUP II
----------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
----------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 24 2,251,987.84 0.97%
60-89 DAYS 10 859,769.01 0.37%
90 + DAYS 17 1,579,755.67 0.68%
----------------------------------------------------------------------
<CAPTION>
AGGREGATE
---------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 196 11,682,643.85 5.01%
60-89 DAYS 42 2,681,144.11 1.15%
90 + DAYS 122 8,312,348.17 3.57%
---------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 24
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 25-Jun-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 43 7 50
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,919,957.12 354,931.97 3,274,889.09
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 13 2 15
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,094,181.76 69,087.96 1,163,269.72
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 32 4 36
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,085,716.25 329,465.00 2,415,181.25
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,405 1 1406
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 102,278,581.26 270,776.78 102,549,358.04
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.76021200% 1.35490616% 1.67924077%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 25
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Jul-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 73,469,642.02 5,688,430.22 400,409.55 6,088,839.77 67,781,211.80
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00
A-8 75,000,000.00 66,752,455.25 2,828,354.84 326,391.69 3,154,746.53 63,924,100.41
R N/A N/A N/A 4,567.30 4,567.30 N/A
- ------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 295,136,097.27 8,516,785.06 1,635,271.35 10,152,056.41 286,619,312.21
============================================================================================================
<CAPTION>
ENDING
SUBORDINATE PRINCIPAL
CLASS AMOUNT BALANCE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C>
A-1
A-2
A-3
A-4
A-5
A-6
A-7 5,435,029.83 228,130,241.63
A-8 1,518,890.46 65,442,990.87
R
- ------------------------------------------------------------------------------------------------------------
TOTALS 6,953,920.29 293,573,232.50
============================================================================================================
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- --------------------------------------------------------- ------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 59.82405633 4.21102528 712.84113119 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 37.71139787 4.35188920 852.32133880 A-8 5.61750000% 5.86750000%
-------------------------------------------------------- ------------------------------------------
TOTALS 26.20549249 1.937752296 881.905576
========================================================
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 26
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Jul-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 7,026,726.51 3,164,668.36
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 10,147,489.11
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 841,513.42 227,273.26
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 295,136,097.27
CLASS A PRINCIPAL DISTRIBUTION 8,516,785.06
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 286,619,312.21
SECTION 7.08 (7) REALIZED LOSSES 0.00
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) (A)PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B)PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C)PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D)THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED
DUE TO GROUP I UNDERWATER LOANS 0.00
<CAPTION>
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 6,088,839.77 64.04
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 3,154,746.53 42.06
CLASS R DISTRIBUTION 4,567.30
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 201,046.61 0.80
PRINCIPAL PREPAYMENTS 4,645,870.19 18.58
SUBORDINATION INCREASE AMOUNT 841,513.42 3.37
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 42,104.93 0.56
PRINCIPAL PREPAYMENTS 2,558,976.65 34.12
SUBORDINATION INCREASE AMOUNT 227,273.26 3.03
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 27
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Jul-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
-------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 228,130,241.63 65,442,990.87
ENDING NUMBER OF LOANS 3910 612
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 67,781,211.80 712.8411312
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 63,924,100.41 852.3213388
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 5,435,029.83 1,518,890.46
SUBORDINATION DEFICIT 0.00 0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.863300% 10.421000%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.288800%
SECTION 7.09 (a)(xiii)LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,593.43 611,486.52
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 127 7,368,594.98 3.23%
60-89 DAYS 28 1,890,276.80 0.83%
90 + DAYS 114 7,277,588.99 3.19%
</TABLE>
<TABLE>
<CAPTION>
GROUP II
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 25 2,868,919.63 1.26%
60-89 DAYS 6 1,070,996.63 0.47%
90 + DAYS 25 2,267,805.94 0.99%
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 152 10,237,514.61 4.49%
60-89 DAYS 34 2,961,273.43 1.30%
90 + DAYS 139 9,545,394.93 4.18%
</TABLE>
* The number and aggregate principal balance of delinquent
loans includes loans in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 28
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Jul-97 PAGE # 4
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 42 8 50
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,858,780.12 816,878.92 3,675,659.04
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 6 3 9
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 359,202.73 600,964.93 960,167.66
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 36 7 43
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,231,476.43 511,285.90 2,742,762.33
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,377 1 1378
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 100,184,672.22 270,680.94 100,455,353.16
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 2 0 2
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 181,550.00 0.00 181,550.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 220,500.00 0.00 220,500.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 2.01179074% 1.70664101% 1.94198838%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 29
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Aug-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 67,781,211.80 4,819,464.74 369,407.60 5,188,872.34 62,961,747.06
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 5,500,000.00 223,375,747.06
A-8 75,000,000.00 63,924,100.41 3,699,660.44 320,830.87 4,020,491.31 60,224,439.97 1,875,000.00 62,099,439.97
R N/A N/A N/A 615,034.81 615,034.81 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 286,619,312.21 8,519,125.18 2,209,176.09 10,728,301.27 278,100,187.03 7,375,000.00 285,475,187.03
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
------------------------------------------------------- -----------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 50.68532423 3.88498412 662.15580695 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 49.32880587 4.27774493 802.99253293 A-8 5.61750000% 5.82844000%
-------------------------------------------------------- -----------------------------------------
TOTALS 26.21269286 1.887167671 855.6928832
--------------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 30
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Aug-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,875,227.74 3,891,279.91
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 10,113,266.46
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 64,970.17 217,170.09
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 286,619,312.21
CLASS A PRINCIPAL DISTRIBUTION 8,519,125.18
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 278,100,187.03
SECTION 7.08 (7) REALIZED LOSSES 0.00
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) (A)PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B)PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C)PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D)THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
<CAPTION>
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,188,872.34 54.57
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 4,020,491.31 53.61
CLASS R DISTRIBUTION 615,034.81
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 68,709.02 0.27
PRINCIPAL PREPAYMENTS 4,685,785.55 18.74
SUBORDINATION INCREASE AMOUNT 64,970.17 0.26
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 60,202.71 0.80
PRINCIPAL PREPAYMENTS 3,283,348.19 43.78
SUBORDINATION INCREASE AMOUNT 217,170.09 2.90
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 138,939.45 1.85
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 31
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Aug-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 223,375,747.06 62,099,439.97
ENDING NUMBER OF LOANS 3830 588
<CAPTION>
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 62,961,747.06 662.155807
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 60,224,439.97 802.9925329
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii)SUBORDINATED AMOUNT 5,500,000.00 1,875,000.00
SUBORDINATION DEFICIT 0.00 0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.881600% 10.521100%
SECTION 7.09 (a)(xii)WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.284800%
SECTION 7.09 (a)(xiii)LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,351.25 611,052.49
SECTION 7.09 (a)(xiv)REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 236 12,816,844.10 5.74%
60-89 DAYS 37 2,170,152.02 0.97%
90 + DAYS 130 8,759,298.77 3.92%
</TABLE>
<TABLE>
<CAPTION>
GROUP II
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 31 2,678,885.21 1.20%
60-89 DAYS 7 635,667.64 0.28%
90 + DAYS 30 3,145,274.98 1.41%
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 267 15,495,729.31 6.94%
60-89 DAYS 44 2,805,819.66 1.26%
90 + DAYS 160 11,904,573.75 5.33%
</TABLE>
*The number and aggrgate principal balance of delinquent loans
includes loans in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 32
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
PAGE # 4
DISTRIBUTION: 25-Aug-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 50 11 61
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 3,573,052.64 1,223,781.11 4,796,833.75
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 9 4 13
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 857,358.97 424,902.19 1,282,261.16
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii)NUMBER OF LOANS IN BANKRUPTCY 47 9 56
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 3,135,407.60 716,521.98 3,851,929.58
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,345 1 1346
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 97,640,268.45 270,584.17 97,910,852.62
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 4 1 5
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 368,241.24 18,000.00 386,241.24
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 465,500.00 34000.00 499,500.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii)90 + DELINQUENCY PERCENTAGE 2.66435307% 2.55562209% 2.63764353%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 33
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Sep-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 62,961,747.06 4,881,698.30 343,141.52 5,224,839.82 58,080,048.76
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 5,500,000.00 218,494,048.76
A-8 75,000,000.00 60,224,439.97 2,451,527.50 301,046.92 2,752,574.42 57,772,912.47 2,092,706.91 59,865,619.38
R N/A N/A N/A 784,831.82 784,831.82 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 278,100,187.03 7,333,225.80 2,332,923.07 9,666,148.87 270,766,961.23 7,592,706.91 278,359,668.14
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
===================================================================================================================================
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- ----------------------------------------------------- ---------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 51.33982185 3.60874913 610.81598511 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 32.68703333 4.01395893 770.30549960 A-8 5.61750000% 5.80500000%
---------------------------------
- -----------------------------------------------------
TOTALS 22.56377169 1.850529572 833.1291115
- -----------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR
PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
- -----------------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
- -----------------------------------------------------------------------------
<PAGE> 34
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Sep-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,941,687.04 2,761,544.02
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,881,317.05
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 0.00 217,706.91
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 278,100,187.03
CLASS A PRINCIPAL DISTRIBUTION 7,333,225.80
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 270,766,961.23
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) (A) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,224,839.82 54.95
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 2,752,574.42 36.70
CLASS R DISTRIBUTION 784,831.82
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 220,931.80 0.88
PRINCIPAL PREPAYMENTS 4,660,766.50 18.64
SUBORDINATION INCREASE AMOUNT 0.00 0.00
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 24,747.07 0.33
PRINCIPAL PREPAYMENTS 2,209,073.52 29.45
SUBORDINATION INCREASE AMOUNT 217,706.91 2.90
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 81,104.03 1.08
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
<PAGE> 35
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 25-Sep-97 PAGE #3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 218,494,048.76 59,865,619.38
ENDING NUMBER OF LOANS 3750 573
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 58,080,048.76 610.8159851
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 57,772,912.47 770.3054996
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 5,500,000.00 2,092,706.91
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.870900% 10.683300%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY
LOANS IN GROUP II 6.273200%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,351.25 610,616.29
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
----------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
----------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 215 12,122,642.02 5.55%
60-89 DAYS 47 3,241,489.74 1.48%
90 + DAYS 146 9,446,631.15 4.32%
----------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
GROUP II
----------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
----------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 27 2,463,251.79 1.13%
60-89 DAYS 4 209,369.51 0.10%
90 + DAYS 33 3,458,831.50 1.58%
----------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
---------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 242 14,585,893.81 6.68%
60-89 DAYS 51 3,450,859.25 1.58%
90 + DAYS 179 12,905,462.65 5.91%
--------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes
loans in foreclosure and bankruptcy
<PAGE> 36
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
PAGE # 4
DISTRIBUTION: 25-Sep-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 59 12 71
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 4,034,715.49 1,311,344.21 5,346,059.70
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 13 1 14
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 787,268.90 87,563.10 874,832.00
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 63 9 72
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,056,263.45 718,316.99 4,774,580.44
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,313 1 1314
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 95,263,279.14 270,486.46 95,533,765.60
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 6 1 7
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 437,826.19 18,000.00 455,826.19
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 559,500.00 34000.00 593,500.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 3.22493776% 3.35643459% 3.25029157%
</TABLE>
<PAGE> 37
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
DISTRIBUTION: 27-Oct-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 58,080,048.76 6,848,864.01 316,536.27 7,165,400.28 51,231,184.75
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 5,500,000.00 211,645,184.75
A-8 75,000,000.00 57,772,912.47 3,352,248.83 299,713.03 3,651,961.86 54,420,663.64 2,162,509.21 56,583,172.85
R N/A N/A N/A 828,669.70 828,669.70 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 270,766,961.23 10,201,112.84 2,348,821.81 12,549,934.65 260,565,848.39 7,662,509.21 268,228,357.60
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 72.02810098 3.32894716 538.78788413
A-2 0.00000000 5.51666667 1000.00000000
A-3 0.00000000 5.68333341 1000.00000000
A-4 0.00000000 5.94166671 1000.00000000
A-5 0.00000000 6.13333333 1000.00000000
A-6 0.00000000 6.31666648 1000.00000000
A-7 0.00000000 5.94166667 1000.00000000
A-8 44.69665107 3.99617373 725.60884853
- ------------------------------------------------------------------------------
TOTALS 31.38803951 1.802388917 801.741072
- ------------------------------------------------------------------------------
</TABLE>
PASS THRU RATES
<TABLE>
<CAPTION>
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
- ------------------------------------------------------------------
<S> <C> <C>
A-1 6.54000000% 6.54000000%
A-2 6.62000000% 6.62000000%
A-3 6.82000000% 6.82000000%
A-4 7.13000000% 7.13000000%
A-5 7.36000000% 7.36000000%
A-6 7.58000000% 7.58000000%
A-7 7.13000000% 7.13000000%
A-8 5.61750000% 5.83625000%
- ------------------------------------------------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
------------------------------------------------------------
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 38
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
DISTRIBUTION: 27-Oct-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 8,802,183.90 3,783,831.85
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 11,721,264.95
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 58,636.37 69,802.30
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 270,766,961.23
CLASS A PRINCIPAL DISTRIBUTION 10,201,112.84
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 260,565,848.39
SECTION 7.08 (7) REALIZED LOSSES 58,636.37
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 7,165,400.28 75.36
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 3,651,961.86 48.69
CLASS R DISTRIBUTION 828,669.70
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 215,668.15 0.86
PRINCIPAL PREPAYMENTS 6,534,195.86 26.14
SUBORDINATION INCREASE AMOUNT 58,636.37 0.23
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 40,363.63 0.16
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 29,376.48 0.39
PRINCIPAL PREPAYMENTS 3,253,070.05 43.37
SUBORDINATION INCREASE AMOUNT 69,802.30 0.93
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 39
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
- --------------------------------------------------------------------------------
DISTRIBUTION: 27-Oct-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 211,645,184.75 56,583,172.85
ENDING NUMBER OF LOANS 3642 547
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 51,231,184.75 538.7878841
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 54,420,663.64 725.6088485
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 5,500,000.00 2,162,509.21
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.859200% 10.520200%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY
LOANS IN GROUP II 6.276800%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,227.24 610,177.09
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
GROUP I
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 131 6,822,208.15 2.54%
60-89 DAYS 37 2,287,919.47 0.85%
90 + DAYS 165 11,625,142.66 4.33%
- --------------------------------------------------------------------------------
</TABLE>
GROUP II
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 19 1,356,139.42 0.51%
60-89 DAYS 3 300,349.39 0.11%
90 + DAYS 33 3,526,116.76 1.31%
- --------------------------------------------------------------------------------
</TABLE>
AGGREGATE
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 150 8,178,347.57 3.05%
60-89 DAYS 40 2,588,268.86 0.96%
90 + DAYS 198 15,151,259.42 5.65%
- --------------------------------------------------------------------------------
</TABLE>
* The number and aggrgate principal balance of delinquent loans includes
loans in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 40
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
================================================================================
PAGE # 4
DISTRIBUTION: 27-Oct-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 54 12 66
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 3,866,870.01 1,440,081.08 5,306,951.09
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 3 1 4
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 135,780.09 249,112.24 384,892.33
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 70 9 79
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,726,178.48 718,032.30 5,444,210.78
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,270 1 1271
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 92,090,528.61 270,387.81 92,360,916.42
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 10 1 11
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 526,138.84 18,000.00 544,138.84
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 727,000.00 34,000.00 761,000.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.02345455% 0.00000000% 0.01804196%
CUMULATIVE REALIZED LOSSES 58,636.37 0.00 58,636.37
CURRENT PERIOD REALIZED LOSSES 58,636.37 0.00 58,636.37
ANNUAL LOSS PERCENTAGE 0.02345455% 0.00000000% 0.01804196%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 3.83710945% 4.16119389% 3.90501898%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 41
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
- --------------------------------------------------------------------------------
DISTRIBUTION: 25-Nov-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 51,231,184.75 7,031,185.22 279,209.96 7,310,395.18 44,199,999.53
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 5,500,000.00 204,613,999.53
A-8 75,000,000.00 54,420,663.64 3,713,956.46 255,854.59 3,969,811.05 50,706,707.18 2,567,256.70 53,273,963.88
R N/A N/A N/A 525,949.51 525,949.51 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 260,565,848.39 10,745,141.68 1,964,916.87 12,710,058.55 249,820,706.71 8,067,256.70 257,887,963.41
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- -------------------------------------------------------------------- ----------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 73.94553583 2.93639400 464.84234830 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 49.51941947 3.41139453 676.08942907 A-8 5.61750000% 5.83625000%
- -------------------------------------------------------------------- ----------------------------------------------------
TOTALS 33.0619744 1.72970119754687 768.679097569231
- --------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
- --------------------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
- --------------------------------------------------------------------------------
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 42
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
- --------------------------------------------------------------------------------
DISTRIBUTION: 25-Nov-97 PAGE # 2
<TABLE>
<S> <C> <C> <C>
GROUP I GROUP II
------- --------
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 8,960,548.74 3,784,229.61
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 12,184,109.04
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 0.00 210,476.71
SUBORDINATION INCREASE FROM OTHER GROUP 0.00 194,270.79
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 260,565,848.39
CLASS A PRINCIPAL DISTRIBUTION 10,745,141.68
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 249,820,706.71
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 7,310,395.18 76.88
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 3,969,811.05 52.93
CLASS R DISTRIBUTION 525,949.51
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 192,767.54 0.77
PRINCIPAL PREPAYMENTS 6,838,417.68 27.35
SUBORDINATION INCREASE AMOUNT 0.00 0.00
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 24,550.55 0.33
PRINCIPAL PREPAYMENTS 3,284,658.42 43.80
SUBORDINATION INCREASE AMOUNT 210,476.71 2.81
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 194,270.79 2.59
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 43
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
- --------------------------------------------------------------------------------
DISTRIBUTION: 25-Nov-97 PAGE # 3
<TABLE>
<S> <C> <C> <C>
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 204,613,999.53 53,273,963.88
ENDING NUMBER OF LOANS 3529 521
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 44,199,999.53 464.8423483
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 50,706,707.18 676.0894291
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 5,500,000.00 2,567,256.70
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.857800% 10.561100%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.303100%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,227.24 609,734.87
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
GROUP I
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 187 9,975,931.08 3.87%
60-89 DAYS 67 3,441,681.12 1.33%
90 + DAYS 177 12,314,620.14 4.78%
--------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
GROUP II
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 12 1,247,105.39 0.48%
60-89 DAYS 5 540,335.71 0.21%
90 + DAYS 35 3,702,945.58 7.3 %
--------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 199 11,223,036.47 4.35%
60-89 DAYS 72 3,982,016.83 1.54%
90 + DAYS 212 16,017,565.72 6.21%
--------------------------------------------------------------------------------------------------
*The number and aggrgate principal balance of delinquent loans includes loans in foreclosure and bankruptcy
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 44
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
- --------------------------------------------------------------------------------
PAGE # 4
DISTRIBUTION: 25-Nov-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 65 12 77
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 5,278,755.53 1,247,105.39 6,525,860.92
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 14 1 15
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,529,697.22 56,136.55 1,585,833.77
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 87 13 100
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 5,879,456.19 1,123,502.29 7,002,958.48
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,225 1 1,226
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 88,403,872.16 39,429.53 88,443,301.69
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 11 1 12
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 558,140.31 18,000.00 576,140.31
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 772,000.00 34,000.00 806,000.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.02345455% 0.00000000% 0.01804196%
CUMULATIVE REALIZED LOSSES 58,636.37 0.00 58,636.37
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.02345455% 0.00000000% 0.01804196%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 4.46702730% 4.98944904% 4.57767385%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 45
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 26-Dec-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------
A-1 95,086,000.00 44,199,999.53 7,725,378.37 240,890.00 7,966,268.37 36,474,621.16
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 6,691,759.48 198,080,380.64
A-8 75,000,000.00 50,706,707.18 1,521,239.05 256,199.16 1,777,438.21 49,185,468.13 2,203,043.76 51,388,511.89
R N/A N/A N/A 10,368.37 10,368.37 N/A
- ------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 249,820,706.71 9,246,617.42 1,411,360.34 10,657,977.76 240,574,089.29 8,894,803.24 249,468,892.53
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
<S> <C> <C> <C> <C> <C> <C>
- -------------------------------------------------- -----------------------------------------------
A-1 81.24622310 2.53339083 383.59612519 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 20.28318733 3.41598880 655.80624173 A-8 5.61750000% 5.86750000%
-----------------------------------------------
- --------------------------------------------------
TOTALS 28.45113052 1.650708244 740.227967
- --------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
<PAGE> 46
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 26-Dec-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 8,360,704.23 2,330,580.02
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 10,647,609.39
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 654,918.87 0.00
SUBORDINATION INCREASE FROM OTHER GROUP 544,233.36 0.00
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 49,820,706.71
CLASS A PRINCIPAL DISTRIBUTION 9,246,617.42
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 40,574,089.29
SECTION 7.08 (7) REALIZED LOSSES 7,392.75
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 7,966,268.37 83.78
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 1,777,438.21 23.70
CLASS R DISTRIBUTION 10,368.37
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 150,366.22 0.60
PRINCIPAL PREPAYMENTS 6,368,045.34 25.47
SUBORDINATION INCREASE AMOUNT 654,918.87 2.62
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 552,047.94 2.21
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 8,455.61 0.11
PRINCIPAL PREPAYMENTS 1,876,996.38 25.03
SUBORDINATION INCREASE AMOUNT 0.00 0.00
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER -364,212.94 -4.86
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
<PAGE> 47
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 26-Dec-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 198,080,380.64 51,388,511.89
ENDING NUMBER OF LOANS 3428 506
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 36,474,621.16 383.5961252
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 49,185,468.13 655.8062417
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 6,691,759.48 2,203,043.76
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.856400% 10.747300%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.305100%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 373,227.24 609,289.61
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
<CAPTION>
GROUP I
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 182 9,098,922.00 3.65%
60-89 DAYS 58 3,052,840.00 1.22%
90 + DAYS 204 13,361,951.00 5.38%
---------------------------------------------------------------------------
GROUP II
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
30-59 DAYS 28 2,756,729.00 1.11%
60-89 DAYS 16 1,499,669.00 0.60%
90 + DAYS 34 3,447,904.00 1.38%
---------------------------------------------------------------------------
AGGREGATE
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
30-59 DAYS 210 11,855,651.00 4.75%
60-89 DAYS 74 4,552,509.00 1.82%
90 + DAYS 238 16,809,855.00 6.74%
---------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
<PAGE> 48
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
DISTRIBUTION: 26-Dec-97 PAGE # 4
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 82 15 97
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 7,632,965.51 1,284,307.33 8,917,272.84
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED N/A N/A 0
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE N/A N/A 0.00
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 76 9 85
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 5,000,742.06 904,287.24 5,905,029.30
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,184 N/A 1184
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 85,390,214.54 N/A 85,390,214.54
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 14 1 15
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 1,105,018.51 18,000.00 1,123,018.51
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY N/A 34,000.00 34,000.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.02641165% 0.00000000% 0.02031665%
CUMULATIVE REALIZED LOSSES 66,029.12 0.00 66,029.12
CURRENT PERIOD REALIZED LOSSES 7,392.75 0.00 7,392.75
ANNUAL LOSS PERCENTAGE 0.02641165% 0.00000000% 0.02031665%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 5.20265685% 5.72659003% 5.31551352%
</TABLE>
<PAGE> 49
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
====================================================================================================================================
DISTRIBUTION: 26-Jan-98 PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 95,086,000.00 36,474,621.16 6,303,416.15 198,786.69 6,502,202.84 30,171,205.01
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 7,785,427.59 192,870,632.60
A-8 75,000,000.00 49,185,468.13 1,021,154.93 260,425.10 1,281,580.03 48,164,313.20 1,875,000.00 50,039,313.20
R N/A N/A N/A 7,405.93 7,405.93 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 325,000,000.00 240,574,089.29 7,324,571.08 1,370,520.53 8,695,091.61 233,249,518.21 9,660,427.59 242,909,945.80
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- --------------------------------------------------------------- ---------------------------------------
A-1 66.29173748 2.09059893 317.30438771 A-1 6.5400 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.6200 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.8200 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.1300 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.3600 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.5800 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.1300 7.13000000%
A-8 13.61539907 3.47233467 642.19084267 A-8 5.6175 6.14875000%
- ---------------------------------------------------------------
TOTALS 22.53714178 1.539142437 717.6908253
- ---------------------------------------------------------------
====================================================================================================================================
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
<PAGE> 50
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
==================================================================================================================================
DISTRIBUTION: 26-Jan-98 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,942,595.69 1,784,591.93
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,687,685.68
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 622,737.57 0.00
SUBORDINATION INCREASE FROM OTHER GROUP 494,921.16 0.00
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 240,574,089.29
CLASS A PRINCIPAL DISTRIBUTION 7,324,571.08
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 233,249,518.21
SECTION 7.08 (7) REALIZED LOSSES 23,990.62
GROUP I GROUP II
------- --------
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) (A) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 6,502,202.84 68.38
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 1,281,580.03 17.09
CLASS R DISTRIBUTION 7,405.93
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 182,172.38 0.73
PRINCIPAL PREPAYMENTS 4,997,175.66 19.99
SUBORDINATION INCREASE AMOUNT 622,737.57 2.49
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 501,330.54 2.01
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 18,048.36 0.24
PRINCIPAL PREPAYMENTS 1,331,150.33 17.75
SUBORDINATION INCREASE AMOUNT 0.00 0.00
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER -328,043.76 -4.37
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
</TABLE>
<PAGE> 51
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
======================================================================================================================
DISTRIBUTION: 26-Jan-98 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 192,870,632.60 50,039,313.20
ENDING NUMBER OF LOANS 3334 492
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 30,171,205.01 317.3043877
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 48,164,313.20 642.1908427
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 7,785,427.59 1,875,000.00
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.855000% 10.879300%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.303700%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 372,847.73 608,841.29
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
GROUP I
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
30-59 DAYS 84 4,502,899.48 1.85%
60-89 DAYS 68 3,358,760.96 1.38%
90 + DAYS 234 15,009,915.86 6.18%
--------------------------------------------------------------------------------------------------
GROUP II
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
30-59 DAYS 20 1,678,591.00 0.69%
60-89 DAYS 2 236,847.98 0.10%
90 + DAYS 35 3,271,409.11 1.35%
--------------------------------------------------------------------------------------------------
AGGREGATE
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
30-59 DAYS 104 6,181,490.48 2.54%
60-89 DAYS 70 3,595,608.94 1.48%
90 + DAYS 269 18,281,324.97 7.53%
--------------------------------------------------------------------------------------------------
*The number and aggrgate principal balance of delinquent loans includes loans in foreclosure and bankruptcy
</TABLE>
<PAGE> 52
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
<TABLE>
<CAPTION>
==============================================================================================================================
PAGE # 4
DISTRIBUTION: 26-Jan-98
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 80 22 102
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 6,539,028.11 2,535,664.45 9,074,692.56
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 13 3 16
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,326,098.28 297,448.29 1,623,546.57
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 80 8 88
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 5,321,399.37 943,536.74 6,264,936.11
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,165 0 1165
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 84,163,660.07 0.00 84,163,660.07
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 14 3 17
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 850,839.55 542,046.90 1,392,886.45
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 755,712.00 422,370.00 1,178,082.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.03600790% 0.00000000% 0.02769838%
CUMULATIVE REALIZED LOSSES 90,019.74 0.00 90,019.74
CURRENT PERIOD REALIZED LOSSES 23,990.62 0.00 23,990.62
ANNUAL LOSS PERCENTAGE 0.03600790% 0.00000000% 0.02769838%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 6.02829615% 6.41919082% 6.11319530%
</TABLE>
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