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<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 [NO 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 333-04911-04
------------
IMC HOME EQUITY LOAN TRUST 1997-2
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 13-3964150
- --------------------------------- ---------------------
(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 1997-2
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 1997-2 (the "Trust"),
established pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated March 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
4 holders of the Class A-1 Certificates, 3 holders of the Class A-2
Certificates, 9 holders of the Class A-3 Certificates, 3 holders of the Class
A-4 Certificates, 3 holders of the Class A-5 Certificates, 3 holders of the
Class A-6 Certificates, 9 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 $1,532,291.72.
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.
<TABLE>
<CAPTION>
DTC Participant Number
(Name and Address below) Principal Amount % of Class
- ------------------------ ---------------- ----------
<S> <C> <C>
Class A-1
902 $50,000,000 39.48%
2339 $20,000,000 15.79%
930 $54,143,000 42.75%
</TABLE>
-4-
<PAGE> 5
<TABLE>
<S> <C> <C>
Class A-2
901 $ 7,500,000 21.42%
5132 $ 5,000,000 14.28%
997 $22,521,000 64.31%
Class A-3
901 $ 5,000,000 7.89%
903 $15,085,000 23.80%
954 $16,200,000 25.56%
991 $10,500,000 16.57%
2163 $ 6,551,000 10.34%
2128 $ 8,230,000 12.99%
Class A-4
954 $22,030,000 52.41%
902 $10,000,000 23.79%
997 $10,000,000 23.79%
Class A-5
901 $ 4,437,000 33.02%
930 $ 1,000,000 7.44%
908 $ 8,000,000 59.54%
Class A-6
901 $ 7,250,000 32.23%
2260 $14,248,000 63.33%
Class A-7
901 $ 3,485,000 12.91%
2163 $ 3,050,000 11.30%
997 $15,907,000 58.91%
Class A-8
903 $38,000,000 54.29%
2027 $ 4,000,000 5.71%
2203 $20,000,000 28.57%
</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
</TABLE>
-5-
<PAGE> 6
<TABLE>
<S> <C>
50 Morgan Stanley & Co. Incorporated
One Pierrepont Plaza, 7th Floor
Brooklyn, NY 11201
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
10 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>
April 21, 1997 Trustee's Monthly Report for the March
Monthly Period.
May 20, 1997 Trustee's Monthly Report for the April
Monthly Period.
</TABLE>
-9-
<PAGE> 10
<TABLE>
<S> <C>
June 20, 1997 Trustee's Monthly Report for the May
Monthly Period.
July 21, 1997 Trustee's Monthly Report for the June
Monthly Period.
August 20, 1997 Trustee's Monthly Report for the July
Monthly Period.
September 22, 1997 Trustee's Monthly Report for the August
Monthly Period.
October 20, 1997 Trustee's Monthly Report for the September
Monthly Period.
November 20, 1997 Trustee's Monthly Report for the October
Monthly Period.
December 22, 1997 Trustee's Monthly Report for the November
Monthly Period.
January 20, 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
IMC HOME EQUITY LOAN TRUST 1997-2
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
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> 2
[IMC 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
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Apr-97 PAGE # 1
ORIGINAL BEGINNING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION
<S> <C> <C> <C> <C>
A-1 126,643,000.00 126,643,000.00 5,096,223.01 699,702.58
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00
A-8 70,000,000.00 70,000,000.00 704,303.15 355,911.11
R N/A N/A N/A 0.00
- -------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 400,000,000.00 5,800,526.16 2,261,806.50
ENDING ENDING
TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS DISTRIBUTION BALANCE AMOUNT BALANCE
<S> <C> <C> <C> <C>
A-1 5,795,925.59 121,546,776.99
A-2 195,533.92 35,021,000.00
A-3 366,495.62 63,371,000.00
A-4 253,931.25 42,030,000.00
A-5 83,757.30 13,437,000.00
A-6 143,799.72 22,498,000.00
A-7 162,675.00 27,000,000.00 1,016,661.60 325,920,438.59
A-8 1,060,214.26 69,295,696.85 173,844.45 69,469,541.30
R 0.00 N/A
- ------------------------------------------------------------------------------------------
TOTALS 8,062,332.66 394,199,473.84 1,190,506.05 395,389,979.89
</TABLE>
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C>
A-1 40.24085824 5.52500004 959.75914176
A-2 0.00000000 5.58333343 1000.00000000
A-3 0.00000000 5.78333339 1000.00000000
A-4 0.00000000 6.04166667 1000.00000000
A-5 0.00000000 6.23333333 1000.00000000
A-6 0.00000000 6.39166681 1000.00000000
A-7 0.00000000 6.02500000 1000.00000000
A-8 10.06147357 5.08444443 989.93852643
- ------------------------------------------------------------------------
TOTALS 14.5013154 2.23809125 985.4986846
</TABLE>
PASS THRU RATES
<TABLE>
<CAPTION>
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
<S> <C> <C>
A-1 6.63000000% 6.63000000%
A-2 6.70000000% 6.70000000%
A-3 6.94000000% 6.94000000%
A-4 7.25000000% 7.25000000%
A-5 7.48000000% 7.48000000%
A-6 7.67000000% 7.67000000%
A-7 7.23000000% 7.23000000%
A-8 5.72000000% 5.72000000%
</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> 2
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Apr-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 7,046,084.40 1,069,543.17
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,062,332.66
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,152,685.39 173,844.45
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 400,000,000.00
CLASS A PRINCIPAL DISTRIBUTION 5,800,526.16
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 394,199,473.84
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 136,023.79 0.00
(B)PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 45,569.39 14,781.44
(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 5,795,925.59 45.77
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 1,060,214.26 15.15
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 30,321.63 0.09
PRINCIPAL PREPAYMENTS 3,867,646.60 11.72
SUBORDINATION INCREASE AMOUNT 1,152,685.39 3.49
PRIN PREPAY FROM PRE-FUND ACCT 45,569.39 0.14
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 11,594.85 0.17
PRINCIPAL PREPAYMENTS 504,082.41 7.20
SUBORDINATION INCREASE AMOUNT 173,844.45 2.48
PRIN PREPAY FROM PRE-FUND ACCT 14,781.44 0.21
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> 3
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Apr-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 325,920,438.59 69,469,541.30
ENDING NUMBER OF LOANS 5282 726
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 121,546,776.99 959.7591418
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 69,295,696.85 989.9385264
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 1,016,661.60 173,844.45
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 11.786200% 9.743400%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.037700%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 547,497.36 498,242.22
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 152 9,498,199.65 2.91%
60-89 DAYS 74 4,636,079.81 1.42%
90 + DAYS 72 4,984,008.11 1.53%
GROUP II
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
30-59 DAYS 21 1,367,893.98 0.42%
60-89 DAYS 1 68,798.32 0.02%
90 + DAYS 1 361,587.95 0.11%
AGGREGATE
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
30-59 DAYS 173 10,866,093.63 3.33%
60-89 DAYS 75 4,704,878.13 1.44%
90 + DAYS 73 5,345,596.06 1.64%
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 4
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 21-Apr-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 90,904.22 0.00 90,904.22
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 1 0 1
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 90,904.22 0.00 90,904.22
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 13 2 15
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,379,857.85 186,174.04 1,566,031.89
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,625 0 2625
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 194,761,130.19 0.00 194,761,130.19
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 1.52921005% 0.52049854% 1.35198066%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
<PAGE> 5
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
===================================================================================================================================
DISTRIBUTION 20-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> <C> <C>
A-1 128,643,000.00 121,546,776.99 4,745,678.17 671,545.94 5,417,224.11 116,801,098.82
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,496,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 2,159,656.27 322,317,755.09
A-8 70,000,000.00 69,295,696.85 1,435,890.24 329,765.71 1,765,655.95 67,859,806.61 370,330.99 68,230,137.60
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 394,199,473.84 6,181,568.41 2,207,504.46 8,389,072.87 388,017,905.43 2,529,987.26 390,547,892.69
- -----------------------------------------------------------------------------------------------------------------------------------
</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 37.47288180 5.30266924 922.28625996 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 20.51271771 4.71093871 969.42580871 A-8 5.72000000% 5.90750000%
- --------------------------------------------------------- ----------------------------------------------
TOTALS 15.45392103 2.199596695 970.0447636
- ---------------------------------------------------------
</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> 6
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
====================================================================================================================================
DISTRIBUTION: 20-May-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 6,666,715.87 1,774,886.50
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,389,072.87
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,142,994.67 196,486.54
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 394,199,473.84
CLASS A PRINCIPAL DISTRIBUTION 6,181,568.41
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 388,017,905.43
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 5,417,224.11 42.78
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 1,765,655.95 25.22
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 200,680.74 0.61
PRINCIPAL PREPAYMENTS 3,372,828.28 10.22
SUBORDINATION INCREASE AMOUNT 1,142,994.67 3.46
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 29,174.48 0.09
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 27,069.53 0.39
PRINCIPAL PREPAYMENTS 1,212,334.17 17.32
SUBORDINATION INCREASE AMOUNT 196,486.54 2.81
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> 7
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
====================================================================================================================================
DISTRIBUTION: 20-May-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 322,317,755.09 68,230,137.60
ENDING NUMBER OF LOANS 5221 716
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 116,801,098.82 922.28626
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 67,859,806.61 969.4258087
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 2,159,656.27 370,330.99
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 29,472.38
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.781400% 9.749800%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.031700%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 547,497.36 497,941.74
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 175 11,138,222.54 3.46%
60-89 DAYS 74 4,710,487.77 1.46%
90 + DAYS 52 3,582,018.67 1.11%
---------------------------------------------------------------------------
</TABLE>
GROUP II
<TABLE>
<CAPTION>
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 6 568,795.83 0.18%
60-89 DAYS 8 614,748.76 0.19%
90 + DAYS 1 361,587.95 0.11%
---------------------------------------------------------------------------
</TABLE>
AGGREGATE
<TABLE>
<CAPTION>
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 181 11,707,018.37 3.63%
60-89 DAYS 82 5,325,236.53 1.65%
90 + DAYS 53 3,943,606.62 1.22%
---------------------------------------------------------------------------
</TABLE>
*The number and aggregate principal balance of delinquent
loans includes loans in foreclosure and bankruptcy
<PAGE> 8
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
====================================================================================================================================
PAGE # 4
DISTRIBUTION: 20-May-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 2 0 2
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 298,782.83 0.00 298,782.83
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 2 0 2
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 298,782.83 0.00 298,782.83
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 21 2 23
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,806,317.30 186,096.15 1,992,413.45
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,595 0 2595
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 192,694,719.81 0.00 192,694,719.81
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 1.32027077% 0.52522598% 1.00976262%
</TABLE>
<PAGE> 9
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 20-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-1 126,643,000.00 116,801,098.82 7,595,785.11 645,326.07 8,241,111.18 109,205,313.71
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 3,272,910.96 315,835,224.67
A-8 70,000,000.00 67,859,806.61 2,481,719.38 345,203.78 2,826,923.16 65,378,087.23 539,965.29 65,918,052.52
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 388,017,905.43 10,077,504.49 2,196,722.66 12,274,227.15 377,940,400.94 3,812,876.25 381,753,277.19
- -----------------------------------------------------------------------------------------------------------------------------------
</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 59.97793096 5.09563158 862.30832900 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 35.45313400 4.93148257 933.97267471 A-8 5.72000000% 5.90750000%
- ------------------------------------------------------- ----------------------------------------
TOTALS 25.19376123 2.167064917 944.8510024
- -------------------------------------------------------
</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> 10
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 20-Jun-97 PAGE # 2
GROUP I GROUP II
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 9,489,955.71 2,835,954.95
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 12,274,227.15
GROUP I GROUP II
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,113,254.69 169,634.30
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 388,017,905.43
CLASS A PRINCIPAL DISTRIBUTION 10,077,504.49
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 377,940,400.94
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 8,241,111.18 65.07
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 2,826,923.16 40.38
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 239,102.93 0.72
PRINCIPAL PREPAYMENTS 6,243,427.49 18.92
SUBORDINATION INCREASE AMOUNT 1,113,254.69 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 33,535.96 0.48
PRINCIPAL PREPAYMENTS 2,278,549.12 32.55
SUBORDINATION INCREASE AMOUNT 169,634.30 2.42
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> 11
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 20-Jun-97 PAGE # 3
GROUP I GROUP II
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 315,835,224.67 65,918,052.52
ENDING NUMBER OF LOANS 5121 695
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 109,205,313.71 862.308329
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 65,378,087.23 933.9726747
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 3,272,910.96 539,965.29
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 11.767200% 9.773200%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.032600%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 547,242.94 497,639.07
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 175 9,571,642.33 3.03%
60-89 DAYS 70 4,779,321.05 1.51%
90 + DAYS 85 5,551,576.00 1.76%
---------------------------------------------------------------------------------
<CAPTION>
GROUP II
---------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 18 1,394,252.01 0.44%
60-89 DAYS 4 435,911.80 0.14%
90 + DAYS 6 647,552.77 0.21%
---------------------------------------------------------------------------------
<CAPTION>
AGGREGATE
---------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 193 10,965,894.34 3.47%
60-89 DAYS 74 5,215,232.85 1.65%
90 + DAYS 91 6,199,128.77 1.96%
---------------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 12
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 20-Jun-97
GROUP I GROUP II TOTAL
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 34 2 36
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,381,824.69 385,543.75 2,767,368.44
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 33 2 35
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,290,934.84 385,543.75 2,676,478.59
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 34 4 38
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,356,591.05 417,280.03 2,773,871.08
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,547 0 2547
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 1,888,899,819.65 0.00 1,888,899,819.65
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% .00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.46609531% 0.67760408% 1.62385738%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 13
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-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-1 126,643,000.00 109,205,313.71 6,511,473.43 603,359.36 7,114,832.79 102,693,840.28
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 4,359,893.86 310,410,734.14
A-8 70,000,000.00 65,378,087.23 1,397,824.16 332,579.24 1,730,403.40 63,980,263.07 716,746.59 64,697,009.66
R N/A N/A N/A N/A N/A 0.00 0.00 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 377,940,400.94 7,909,297.59 2,142,131.41 10,051,429.00 370,031,103.35 5,076,640.45 375,107,743.80
- ------------------------------------------------------------------------------------------------------------------------------------
</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> <C>
A-1 51.41597585 4.76425353 810.89235315 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 19.96891657 4.75113200 914.00375814 A-8 5.72000000% 5.90750000%
---------------------------------------------------------
- --------------------------------------------------------------
TOTALS 19.77324398 2.113807569 925.0777584
- --------------------------------------------------------------
</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 1997-2
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 8,362,682.65 1,739,114.80
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 10,051,429.00
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,086,982.90 176,781.30
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 377,940,400.94
CLASS A PRINCIPAL DISTRIBUTION 7,909,297.59
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 370,031,103.35
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 7,114,832.79 56.18
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 1,730,403.40 24.72
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 225,178.62 0.68
PRINCIPAL PREPAYMENTS 5,199,311.91 15.76
SUBORDINATION INCREASE AMOUNT 1,086,982.90 3.29
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 33,498.56 0.48
PRINCIPAL PREPAYMENTS 1,187,544.30 16.96
SUBORDINATION INCREASE AMOUNT 176,781.30 2.53
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 1997-2
===============================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 310,410,734.14 64,697,009.66
5037 682
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 102,693,840.28 810.8923532
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 63,980,263.07 914.0037581
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 4,359,893.86 716,746.59
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 11.760000% 9.931200%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.032000%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 546,986.43 497,334.19
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 161 8,530,130.79 2.75%
60-89 DAYS 50 2,442,768.70 0.79%
90 + DAYS 107 7,407,236.30 2.39%
---------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
GROUP II
---------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 17 1,443,137.41 0.46%
60-89 DAYS 8 601,834.50 0.19%
90 + DAYS 6 474,424.93 0.15%
---------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
--------------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 178 9,973,268.20 3.21%
60-89 DAYS 58 3,044,603.20 0.98%
90 + DAYS 113 7,881,661.23 2.54%
--------------------------------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans in
foreclosure and bankruptcy
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- -------------------------------------------------------------------------------
<PAGE> 16
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
<TABLE>
<CAPTION>
PAGE # 4
DISTRIBUTION: 21-Jul-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 43 1 44
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,979,429.31 23,955.80 3,003,385.11
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 12 0 12
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 773,029.62 0.00 773,029.62
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 42 4 46
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,844,657.86 407,432.16 3,252,090.02
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,495 0 2495
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 185,285,394.37 0.00 185,285,394.37
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
1 0 1
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
51,000.00 0.00 51,000.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
60000.00 0.00 60,000.00
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 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.70024629% 0.69152874% 2.11476872%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 17
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
====================================================================================================================================
DISTRIBUTION: 20-Aug-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-1 126,643,000.00 102,693,840.28 6,647,058.00 567,383.47 7,214,441.47 96,046,782.28
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 5,415,625.56 304,819,407.84
A-8 70,000,000.00 63,980,263.07 1,895,793.86 324,177.08 2,219,970.94 62,084,469.21 903,483.19 62,987,952.40
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 370,031,103.35 8,542,851.86 2,097,753.36 10,640,605.22 361,488,251.49 6,319,108.75 367,807,360.24
- -----------------------------------------------------------------------------------------------------------------------------------
</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 52.48658039 4.48018027 758.40577276 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 27.08276943 4.63110114 886.92098871 A-8 5.72000000% 5.88406000%
- -------------------------------------------------------- -----------------------------------------
TOTALS 21.35712965 2.061765573 903.7206287
- --------------------------------------------------------
===============================================================================================================
</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> 18
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
===================================================================================================================================
DISTRIBUTION: 20-Aug-97 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 8,461,430.80 2,228,493.37
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 10,640,605.22
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,055,731.70 186,736.60
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 370,031,103.35
CLASS A PRINCIPAL DISTRIBUTION 8,542,851.86
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 361,488,251.49
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 7,214,441.47 56.97
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 2,219,970.94 31.71
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 253,867.87 0.77
PRINCIPAL PREPAYMENTS 5,337,458.43 16.17
SUBORDINATION INCREASE AMOUNT 1,055,731.70 3.20
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 34,144.41 0.49
PRINCIPAL PREPAYMENTS 1,674,912.85 23.93
SUBORDINATION INCREASE AMOUNT 186,736.60 2.67
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> 19
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
=================================================================================================================================
DISTRIBUTION: 20-Aug-97 PAGE # 3
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 4,819,407.84 62,987,952.40
ENDING NUMBER OF LOANS 4958 667
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 6,046,782.28 758.4057728
CLASS A-2 5,021,000.00 1000
CLASS A-3 3,371,000.00 1000
CLASS A-4 2,030,000.00 1000
CLASS A-5 3,437,000.00 1000
CLASS A-6 2,498,000.00 1000
CLASS A-7 7,000,000.00 1000
CLASS A-8 2,084,469.21 886.9209887
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 5,415,625.56 903,483.19
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 11.747700% 10.134500%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.031400%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 546,467.08 497,027.09
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:*
GROUP I
---------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------------
30-59 DAYS 232 13,328,499.09 4.37%
60-89 DAYS 69 4,290,352.26 1.41%
90 + DAYS 139 9,341,064.68 3.06%
---------------------------------------------------------------------------------------------
GROUP II
---------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------------
30-59 DAYS 25 1,880,753.23 0.62%
60-89 DAYS 12 1,077,463.12 0.35%
90 + DAYS 12 978,339.80 0.32%
---------------------------------------------------------------------------------------------
AGGREGATE
---------------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------------
30-59 DAYS 257 15,209,252.32 4.99%
60-89 DAYS 81 5,367,815.38 1.76%
90 + DAYS 151 10,319,404.48 3.39%
---------------------------------------------------------------------------------------------
*The number and aggrgate principal balance of delinquent loans includes loans in foreclosure and bankruptcy
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 20
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
===================================================================================================================================
PAGE # 4
DISTRIBUTION: 20-Aug-97
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 61 2 63
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 4,527,532.81 173,789.41 4,701,322.22
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 24 1 25
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,808,994.14 149,833.61 1,958,827.75
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 52 6 58
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 3,370,982.87 569,279.89 3,940,262.76
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,446 0 2446
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 181,515,893.47 0.00 181,515,893.47
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
5 0 5
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
252,600.00 0.00 252,600.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
319000.00 0.00 319,000.00
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 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.98966251% 0.86386646% 2.87433195%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- -------------------------------------------------------------------------------
<PAGE> 21
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 22-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-1 126,643,000.00 96,046,782.28 5,531,721.77 530,658.47 6,062,380.24 90,515,060.51
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 6,436,791.57 300,308,852.08
A-8 70,000,000.00 62,084,469.21 2,108,606.33 333,087.89 2,441,694.22 59,975,862.88 1,077,153.61 61,053,016.49
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 361,488,251.49 7,640,328.10 2,069,939.17 9,710,267.27 353,847,923.39 7,513,945.18 361,361,868.57
- -----------------------------------------------------------------------------------------------------------------------------------
</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 43.67964886 4.19019188 714.72612391 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 30.12294757 4.75839843 856.79804114 A-8 5.72000000% 5.85281000%
-------------------------------------------------
- --------------------------------------------------------
TOTALS 19.10082025 2.008896242 884.6198085
- --------------------------------------------------------
</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> 22
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 22-Sep-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 7,308,501.10 2,449,963.55
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 9,710,267.27
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 1,021,166.01 173,670.42
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 361,488,251.49
CLASS A PRINCIPAL DISTRIBUTION 7,640,328.10
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 353,847,923.39
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 6,062,380.24 47.87
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 2,441,694.22 34.88
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 287,385.29 0.87
PRINCIPAL PREPAYMENTS 4,223,170.47 12.80
SUBORDINATION INCREASE AMOUNT 1,021,166.01 3.09
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 26,236.33 0.37
PRINCIPAL PREPAYMENTS 1,908,699.58 27.27
SUBORDINATION INCREASE AMOUNT 173,670.42 2.48
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> 23
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 22-Sep-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 300,308,852.08 61,053,016.49
ENDING NUMBER OF LOANS 4891 649
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 90,515,060.51 714.7261239
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 59,975,862.88 856.7980411
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 6,436,791.57 1,077,153.61
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 11.740900% 10.624800%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.032800%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 546,467.08 496,717.75
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 263 16,421,226.88 5.47%
60-89 DAYS 119 7,383,585.07 2.46%
90 + DAYS 166 11,316,679.77 3.77%
-------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
GROUP II
-------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 17 1,701,359.27 0.57%
60-89 DAYS 15 1,124,800.00 0.37%
90 + DAYS 15 1,422,693.49 0.47%
-------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
-------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 280 18,122,586.15 6.03%
60-89 DAYS 134 8,508,385.07 2.83%
90 + DAYS 181 12,739,373.26 4.24%
-------------------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans
includes loans in foreclosure and bankruptcy
<PAGE> 24
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
PAGE # 4
DISTRIBUTION: 22-Sep-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 72 9 81
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 5,387,770.21 774,765.08 6,162,535.29
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 19 7 26
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,246,983.83 643,778.75 1,890,762.58
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 63 8 71
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 3,874,658.41 736,437.49 4,611,095.90
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,407 1 2408
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 178,533,600.58 83,635.37 178,617,235.95
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
10 0 10
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
529,266.21 0.00 529,266.21
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
705,500.00 0.00 705,500.00
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 2.31548337% 1.10826524% 3.67184272%
</TABLE>
<PAGE> 25
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
DISTRIBUTION: 20-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-1 126,643,000.00 90,515,060.51 10,500,546.14 500,095.71 11,000,641.85 80,014,514.37
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 7,421,761.66 290,793,276.03
A-8 70,000,000.00 59,975,862.88 4,169,381.12 274,114.68 4,443,495.80 55,806,481.76 1,275,118.84 57,081,600.60
R N/A N/A N/A 0.00 0.00 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 353,847,923.39 14,669,927.26 1,980,403.20 16,650,330.46 339,177,996.13 8,696,880.50 347,874,876.63
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 82.91454040 3.94886184 631.81158351
A-2 0.00000000 5.58333343 1000.00000000
A-3 0.00000000 5.78333339 1000.00000000
A-4 0.00000000 6.04166667 1000.00000000
A-5 0.00000000 6.23333333 1000.00000000
A-6 0.00000000 6.39166681 1000.00000000
A-7 0.00000000 6.02500000 1000.00000000
A-8 59.56258743 3.91592400 797.23545371
- --------------------------------------------------------------------------------
TOTALS 36.67481815 1.965899993 847.9449903
- --------------------------------------------------------------------------------
</TABLE>
PASS THRU RATES
<TABLE>
<CAPTION>
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
------------------------------------------------------------------
<S> <C> <C>
A-1 6.63000000% 6.63000000%
A-2 6.70000000% 6.70000000%
A-3 6.94000000% 6.94000000%
A-4 7.25000000% 7.25000000%
A-5 7.48000000% 7.48000000%
A-6 7.67000000% 7.67000000%
A-7 7.23000000% 7.23000000%
A-8 5.72000000% 5.87625000%
------------------------------------------------------------------
</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 1997-2
================================================================================
DISTRIBUTION: 20-Oct-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 12,245,991.94 4,451,468.46
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 16,650,330.46
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 996,102.85 197,965.43
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 353,847,923.39
CLASS A PRINCIPAL DISTRIBUTION 14,669,927.26
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 339,177,996.13
SECTION 7.08 (7) REALIZED LOSSES 11,132.76
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 11,000,641.85 86.86
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 4,443,495.80 63.48
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 237,897.19 0.72
PRINCIPAL PREPAYMENTS 9,184,951.02 27.83
SUBORDINATION INCREASE AMOUNT 996,102.85 3.02
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 81,595.08 0.25
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 27,536.90 0.39
PRINCIPAL PREPAYMENTS 3,943,878.79 56.34
SUBORDINATION INCREASE AMOUNT 197,965.43 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>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 27
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
================================================================================
DISTRIBUTION: 20-Oct-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 290,793,276.03 57,081,600.60
ENDING NUMBER OF LOANS 4758 616
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 80,014,514.37 631.8115835
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 55,806,481.76 797.2354537
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 7,421,761.66 1,275,118.84
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 11.730600% 10.328500%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS
IN GROUP II 6.033500%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 546,204.20 496,406.15
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 152 8,367,460.00 2.41%
60-89 DAYS 62 3,502,634.04 1.01%
90 + DAYS 203 13,474,428.70 3.87%
- --------------------------------------------------------------------------------
</TABLE>
GROUP II
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 22 1,688,446.93 0.49%
60-89 DAYS 7 823,518.47 0.24%
90 + DAYS 25 2,089,111.25 0.60%
- --------------------------------------------------------------------------------
</TABLE>
AGGREGATE
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 174 10,055,906.93 2.89%
60-89 DAYS 69 4,326,152.51 1.24%
90 + DAYS 228 15,563,539.95 4.47%
- --------------------------------------------------------------------------------
</TABLE>
* The number and aggrgate 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 1997-2
================================================================================
PAGE # 4
DISTRIBUTION: 20-Oct-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 89 12 101
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 6,474,972.90 1,237,319.38 7,712,292.28
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 24 3 27
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,574,353.45 462,713.06 2,037,066.51
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 70 8 78
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,016,238.38 736,265.23 4,752,503.61
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,340 2 2342
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 173,209,928.00 158,209.36 173,368,137.36
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
14 0 14
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
780,338.96 0.00 780,338.96
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
1,048,500.00 0.00 1,048,500.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00337356% 0.00000000% 0.00278319%
CUMULATIVE REALIZED LOSSES 11,132.76 0.00 11,132.76
CURRENT PERIOD REALIZED LOSSES 11,132.76 0.00 11,132.76
ANNUAL LOSS PERCENTAGE 0.00337356% 0.00000000% 0.00278319%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 2.87761969% 1.63149349% 4.69820617%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORATION
- --------------------------------------------------------------------------------
<PAGE> 29
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 20-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-1 126,643,000.00 80,014,514.37 10,599,300.25 442,080.19 11,041,380.44 69,415,214.12
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 8,309,329.24 281,081,543.36
A-8 70,000,000.00 55,806,481.76 2,259,280.86 280,884.87 2,540,165.73 53,547,200.90 1,433,966.44 54,981,167.34
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 339,177,996.13 12,858,581.11 1,929,157.87 14,787,738.98 326,319,415.02 9,743,295.68 336,062,710.70
===================================================================================================================================
</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 83.69432381 3.49075898 548.11725970 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 32.27544086 4.01264100 764.96001286 A-8 5.72000000% 5.84500000%
- ---------------------------------------------------------- -------------------------------------
TOTALS 32.14645278 1.879880527 815.7985376
==========================================================
</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> 30
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 20-Nov-97 Page # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08(1) BEGINNING CERTIFICATE ACCOUNT 12,285,337.04 2,547,599.72
SECTION 7.08(2) CLASS A DISTRIBUTION AMOUNT 14,787,738.98
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.08(3) SUBORDINATION INCREASE AMOUNT 937,381.24 158,847.40
SECTION 7.08(4) INSURED PAYMENT 0.00 0.00
SECTION 7.08(6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 339,177,996.13
CLASS A PRINCIPAL DISTRIBUTION 12,858,581.11
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 326,319,415.02
SECTION 7.08(7) REALIZED LOSSES 49,813.66
<CAPTION>
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 7.8(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 11,041,380.44 87.19
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 2,540,165.73 36.29
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 222,994.95 0.68
PRINCIPAL PREPAYMENTS 9,339,337.72 28.30
SUBORDINATION INCREASE AMOUNT 937,381.24 2.84
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 99,586.34 0.30
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 24,907.19 0.36
PRINCIPAL PREPAYMENTS 2,075,526.27 29.65
SUBORDINATION INCREASE AMOUNT 158,847.40 2.27
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
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 1997-2
DISTRIBUTION: 20-Nov-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 281,081,543.36 54,981,167.34
ENDING NUMBER OF LOANS 4620 592
<CAPTION>
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 69,415,214.12 548.1172597
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 53,547,200.90 764.9600129
<CAPTION>
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 8,309,329.24 1,433,966.44
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 11.718600% 10.357800%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.025700%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 545,939.17 496,092.28
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>
GROUP I
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 200 12,544,461.30 3.73%
60-89 DAYS 71 4,000,917.80 1.19%
90 + DAYS 230 15,426,963.27 4.59%
</TABLE>
<TABLE>
GROUP II
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 20 2,292,932.13 0.68%
60-89 DAYS 14 1,152,438.75 0.34%
90 + DAYS 28 2,484,327.83 0.74%
</TABLE>
<TABLE>
AGGREGATE
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 220 14,837,393.43 4.42%
60-89 DAYS 85 5,153,356.55 1.53%
90 + DAYS 258 17,911,291.10 5.33%
</TABLE>
*The number and aggregate 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 1997-2
PAGE # 4
DISTRIBUTION: 20-Nov-97
<TABLE>
<CAPTION>
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C> <C> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 120 12 132
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 8,772,844.64 1,050,878.80 9,823,723.44
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 37 2 39
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,523,137.61 145,174.49 2,668,312.10
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 85 9 94
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,735,169.43 809,051.82 5,544,221.25
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,248 2 2,250
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 165,616,220.12 158,130.65 165,774,350.77
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 16 2 18
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 827,088.25 331,773.83 1,158,862.08
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 1,170,500.00 527776 1,698,276.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.01846861% 0.00000000% 0.01523661%
CUMULATIVE REALIZED LOSSES 60,946.42 0.00 60,946.42
CURRENT PERIOD REALIZED LOSSES 49,813.66 0.00 49,813.66
ANNUAL LOSS PERCENTAGE 0.01846861% 0.00000000% 0.01523661%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 3.65617809% 2.39682436% 5.67458173%
</TABLE>
(C) COPYRIGHT 1997, CHASE BANKING CORPORAWTION
<PAGE> 33
EXHIBIT 19
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
DISTRIBUTION: 22-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-1 126,643,000.00 69,415,214.12 7,510,291.09 383,519.06 7,893,810.15 61,904,923.03
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 9,159,245.81 274,421,168.84
A-8 70,000,000.00 53,547,200.90 2,778,778.36 281,182.30 3,059,960.66 50,768,422.54 1,562,649.23 52,331,071.77
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 326,319,415.02 10,289,069.45 1,870,894.17 12,159,963.62 316,030,345.57 10,721,895.04 326,752,240.61
- -----------------------------------------------------------------------------------------------------------------------------------
</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 59.30285203 3.02834788 488.81440767 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 39.69683371 4.01689000 725.26317914 A-8 5.72000000% 5.90750000%
- ---------------------------------------------------------- -----------------------------------------------------
TOTALS 25.72267363 1.774497481 790.0758639
- ----------------------------------------------------------
</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 1997-2
DISTRIBUTION: 22-Dec-97 PAGE # 2
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 9,136,386.33 3,067,090.15
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 12,159,963.62
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 877,286.17 149,737.43
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 326,319,415.02
CLASS A PRINCIPAL DISTRIBUTION 10,289,069.45
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 316,030,345.57
SECTION 7.08 (7) REALIZED LOSSES 27,369.60 21,054.64
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 7,893,810.15 62.33
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 3,059,960.66 43.71
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 179,182.40 0.54
PRINCIPAL PREPAYMENTS 6,409,192.12 19.42
SUBORDINATION INCREASE AMOUNT 877,286.17 2.66
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 44,630.40 0.14
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 22,130.04 0.32
PRINCIPAL PREPAYMENTS 2,518,090.71 35.97
SUBORDINATION INCREASE AMOUNT 149,737.43 2.14
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 88,820.18 1.27
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 1997-2
DISTRIBUTION: 22-Dec-97 PAGE # 3
<TABLE>
<CAPTION>
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 274,421,168.84 52,331,071.77
ENDING NUMBER OF LOANS 4515 569
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 61,904,923.03 488.8144077
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 50,768,422.54 725.2631791
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 9,159,245.81 1,562,649.23
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 11.708100% 10.393200%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 6.021100%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 545,671.96 495,776.12
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 211 11,269,038.00 3.45%
60-89 DAYS 71 4,308,854.00 1.32%
90 + DAYS 259 16,872,750.00 5.16%
-----------------------------------------------------------------------------------------
GROUP II
-----------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------------------------
30-59 DAYS 41 3,304,121.00 1.01%
60-89 DAYS 14 1,322,440.00 0.40%
90 + DAYS 29 2,260,169.00 0.69%
-----------------------------------------------------------------------------------------
AGGREGATE
-----------------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------------------------
30-59 DAYS 252 14,573,159.00 4.46%
60-89 DAYS 85 5,631,294.00 1.72%
90 + DAYS 288 19,132,919.00 5.86%
-----------------------------------------------------------------------------------------
</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 1997-2
DISTRIBUTION: 22-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 159 18 177
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 11,465,666.15 1,401,913.48 12,867,579.63
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 00
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 75 7 82
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,222,772.66 707,042.03 4,929,814.69
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,170 N/A 2170
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 159,508,179.39 N/A 159,508,179.39
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 19 2 21
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 1,008,095.53 331,773.83 1,339,869.36
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY N/A N/A 00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.02676243% 0.03007806% 0.02734267%
CUMULATIVE REALIZED LOSSES 88,316.02 21,054.64 109,370.66
CURRENT PERIOD REALIZED LOSSES 27,369.60 21,054.64 48,424.24
ANNUAL LOSS PERCENTAGE 0.02676243% 0.03007806% 0.02734267%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 4.44919410% 3.05859282% 6.26553878%
</TABLE>
<PAGE> 37
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
====================================================================================================================================
DISTRIBUTION: 20-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> <C>
A-1 126,643,000.00 61,904,923.03 9,348,862.96 342,024.70 9,690,887.66 52,556,060.07
A-2 35,021,000.00 35,021,000.00 0.00 195,533.92 195,533.92 35,021,000.00
A-3 63,371,000.00 63,371,000.00 0.00 366,495.62 366,495.62 63,371,000.00
A-4 42,030,000.00 42,030,000.00 0.00 253,931.25 253,931.25 42,030,000.00
A-5 13,437,000.00 13,437,000.00 0.00 83,757.30 83,757.30 13,437,000.00
A-6 22,498,000.00 22,498,000.00 0.00 143,799.72 143,799.72 22,498,000.00
A-7 27,000,000.00 27,000,000.00 0.00 162,675.00 162,675.00 27,000,000.00 9,959,139.64 265,872,199.71
A-8 70,000,000.00 50,768,422.54 2,624,567.41 253,099.98 2,877,667.39 48,143,855.13 1,718,565.52 49,862,420.65
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 400,000,000.00 316,030,345.57 11,973,430.37 1,801,317.49 13,774,747.86 304,056,915.20 11,677,705.16 315,734,620.36
- -----------------------------------------------------------------------------------------------------------------------------------
</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> <S> <C> <C>
A-1 73.82060564 2.70069960 414.99380203 A-1 6.63000000% 6.63000000%
A-2 0.00000000 5.58333343 1000.00000000 A-2 6.70000000% 6.70000000%
A-3 0.00000000 5.78333339 1000.00000000 A-3 6.94000000% 6.94000000%
A-4 0.00000000 6.04166667 1000.00000000 A-4 7.25000000% 7.25000000%
A-5 0.00000000 6.23333333 1000.00000000 A-5 7.48000000% 7.48000000%
A-6 0.00000000 6.39166681 1000.00000000 A-6 7.67000000% 7.67000000%
A-7 0.00000000 6.02500000 1000.00000000 A-7 7.23000000% 7.23000000%
A-8 37.49382014 3.61571400 687.76935900 A-8 5.72000000% 6.18875000%
- --------------------------------------------------------- ----------------------------------------------
TOTALS 29.93357593 1.700971529 760.142288
- ---------------------------------------------------------
</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> 38
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
===============================================================================================================================
DISTRIBUTION: 20-Jan-98 PAGE # 2
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 10,932,453.81 2,884,428.96
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 13,774,747.86
GROUP I GROUP II
------- --------
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 839,052.89 155,916.29
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 316,030,345.57
CLASS A PRINCIPAL DISTRIBUTION 11,973,430.37
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 304,056,915.20
SECTION 7.08 (7) REALIZED LOSSES 39,159.06 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 9,690,887.66 76.52
CLASS A-2 DISTRIBUTION 195,533.92 5.58
CLASS A-3 DISTRIBUTION 366,495.62 5.78
CLASS A-4 DISTRIBUTION 253,931.25 6.04
CLASS A-5 DISTRIBUTION 83,757.30 6.23
CLASS A-6 DISTRIBUTION 143,799.72 6.39
CLASS A-7 DISTRIBUTION 162,675.00 6.03
CLASS A-8 DISTRIBUTION 2,877,667.39 41.11
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 175,368.69 0.53
PRINCIPAL PREPAYMENTS 8,306,863.85 25.17
SUBORDINATION INCREASE AMOUNT 839,052.89 2.54
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 27,577.53 0.08
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 25,305.64 0.36
PRINCIPAL PREPAYMENTS 2,443,345.48 34.90
SUBORDINATION INCREASE AMOUNT 155,916.29 2.23
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> 39
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
===========================================================================================================================
DISTRIBUTION: 20-Jan-98 PAGE #3
GROUP I GROUP II
------- --------
<S> <C> <C> <C>
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 265,872,199.71 49,862,420.65
ENDING NUMBER OF LOANS 4384 546
ENDING CERTIFICATE BALANCE: PER $1000
---------
CLASS A-1 52,556,060.07 414.993802
CLASS A-2 35,021,000.00 1000
CLASS A-3 63,371,000.00 1000
CLASS A-4 42,030,000.00 1000
CLASS A-5 13,437,000.00 1000
CLASS A-6 22,498,000.00 1000
CLASS A-7 27,000,000.00 1000
CLASS A-8 48,143,855.13 687.769359
GROUP I GROUP II
------- --------
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 9,959,139.64 1,718,565.52
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 11.700000% 10.515700%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN GROUP II 5.999600%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 545,402.56 495,457.65
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 147 8,278,612.34 2.62%
60-89 DAYS 75 4,290,051.75 1.36%
90 + DAYS 287 18,721,781.07 5.93%
---------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
GROUP II
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 18 1,543,892.40 0.49%
60-89 DAYS 10 834,273.66 0.26%
90 + DAYS 27 2,440,854.46 0.77%
---------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE
---------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 165 9,822,504.74 3.11%
60-89 DAYS 85 5,124,325.41 1.62%
90 + DAYS 314 21,162,635.53 6.70%
---------------------------------------------------------------------------
</TABLE>
*The number and aggrgate principal balance of delinquent loans includes loans
in foreclosure and bankruptcy
<PAGE> 40
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-2
<TABLE>
<CAPTION>
================================================================================================================================
PAGE # 4
DISTRIBUTION: 20-Jan-98
GROUP I GROUP II TOTAL
------- -------- -----
<S> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 142 15 157
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 10,432,497.44 873,668.51 11,306,165.95
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 30 4 34
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 2,267,395.33 251,724.04 2,519,119.37
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 95 10 105
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 5 ,635,663.69 1,203,297.21 6,838,960.90
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2,126 0 2126
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 155,857,959.07 0.00 155,857,959.07
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 27 2 29
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 1,395,469.50 331,773.83 1,727,243.33
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 1,561,500.00 346500.00 1,908,000.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.03862881% 0.03007806% 0.03713243%
CUMULATIVE REALIZED LOSSES 127,475.08 21,054.64 148,529.72
CURRENT PERIOD REALIZED LOSSES 39,159.06 0.00 39,159.06
ANNUAL LOSS PERCENTAGE 0.03862881% 0.03007806% 0.03713243%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 5.30982948% 3.86313519% 7.24972093%
</TABLE>
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