<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from _______ to _______.
Commission File Number 333-24455-01
IMC HOME EQUITY LOAN TRUST 1997-3
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 13-3964151
(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 1997-3
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 ................ 4
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 ................................................. 10
PART IV ........................................................................ 10
ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND
REPORTS ON FORM 8-K .......................................... 10
SIGNATURES .................................................................. 12
INDEX TO EXHIBITS .............................................................. 13
</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 1997-3 (the "Trust"),
established pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated June 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, Class M-1 Certificates, Class M-2
Certificates and Class B 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 15 holders of the Class A-1
Certificates, 11 holders of the Class A-2 Certificates, 23 holders of the Class
A-3 Certificates, 19 holders of the Class A-4 Certificates, 10 holders of the
Class A-5 Certificates, 4 holders of the Class A-6 Certificates, 17 holders of
the Class A-7 Certificates, 3 holders of the Class M-1 Certificates, 7 holders
of the Class M-2 Certificates and 2 holders of the Class B Certificates.
ITEM 6 - SELECTED FINANCIAL DATA
Not Applicable
-3-
<PAGE> 4
ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Not Applicable
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 $2,234,194.82.
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,M and B Certificates of the Trust; (ii) the principal amount of the Class of
Certificates owned by each and (iii) the percent that the principal amount of
the Class of Certificates owned by such entity represents of the outstanding
principal amount of such Class of Certificates. The information set forth in the
table for the Class A Certificates is based upon information obtained by the
Trust from DTC and represents ownership of beneficial interest in the
Certificates held by DTC. The Depositor is not aware of any Schedules 13D or 13G
filed with the Securities and Exchange Commission in respect of the
Certificates.
-4-
<PAGE> 5
<TABLE>
<CAPTION>
DTC Participant Number
(Name and Address below) Principal Amount % of Class
- ------------------------ ---------------- ----------
<S> <C> <C>
Class A-1
901 $ 8,900,000 5.78%
903 $37,850,000 24.56%
954 $ 9,000,000 5.84%
902 $ 8,000,000 5.19%
187 $ 8,000,000 5.19%
667 $28,090,000 18.23%
937 $15,000,000 9.73%
2669 $11,000,000 7.14%
Class A-2
902 $97,250,000 79.23%
Class A-3
903 $16,200,000 14.95%
954 $ 6,690,000 6.18%
2834 $14,500,000 13.38%
997 $56,145,000 51.82%
Class A-4
903 $33,920,000 31.32%
954 $10,770,000 9.94%
2128 $ 7,940,000 7.33%
997 $47,000,000 43.39%
Class A-5
901 $ 9,500,000 11.69%
903 $13,850,000 17.05%
2438 $ 5,000,000 6.15%
902 $15,600,000 19.20%
908 $ 6,800,000 8.37%
2251 $11,000,000 13.54%
997 $16,900,000 20.80%
Class A-6
2260 $12,214,000 32.78%
274 $ 9,070,000 24.34%
418 $10,976,000 29.46%
2116 $ 5,000,000 13.42%
Class A-7
901 $23,900,000 29.88%
903 $ 4,325,000 5.41%
954 $ 9,650,000 25.90%
</TABLE>
-5-
<PAGE> 6
<TABLE>
<S> <C> <C>
908 $ 6,600,000 17.71%
50 $13,750,000 36.90%
2669 $ 4,725,000 12.68%
997 $ 7,600,000 20.40%
Class M-1
954 $25,500,000 79.69%
997 $ 4,500,000 14.06%
2116 $ 2,000,000 6.25%
Class M-2
903 $10,500,000 23.86%
954 $10,400,000 23.64%
908 $12,500,000 28.41%
2669 $ 3,100,000 7.05%
997 $ 6,000,000 13.64%
Class B
954 $20,000,000 62.50%
908 $12,000,000 37.50%
<CAPTION>
DTC Participant Number Name and Address
- ---------------------- ----------------
<S> <C>
10 Brown Brothers Harriman & Co.
63 Wall Street, 8th Floor
New York, NY 10005
30 Prudential Securities Incorporated
Issuer Services c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
50 Morgan Stanley & Co. Incorporated
One Pierrepont Plaza, 7th Floor
Brooklyn, NY 11201
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
</TABLE>
-6-
<PAGE> 7
<TABLE>
<S> <C>
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
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
</TABLE>
-7-
<PAGE> 8
<TABLE>
<S> <C>
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
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
</TABLE>
-8-
<PAGE> 9
<TABLE>
<S> <C>
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>
-9-
<PAGE> 10
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
7 reports on Form 8-K have been filed by the issuer during the period covered by
this report.
<TABLE>
<CAPTION>
ITEMS REPORTED/FINANCIAL
DATE OF REPORTS ON FORM 8-K STATEMENTS FILED
<S> <C>
July 21, 1997 Trustee's Monthly Report for the June
Monthly Period.
August 20, 1997 Trustee's Monthly Report for the July
Monthly Period.
</TABLE>
-10-
<PAGE> 11
<TABLE>
<S> <C>
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>
-11-
<PAGE> 12
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
-12-
<PAGE> 13
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>
<PAGE> 1
EXHIBIT 99.1
<PAGE> 2
IMC HOME EQUITY LOAN TRUST 1997-3
Officer's Certificate
In connection with the above-referenced trust and pursuant to Section 8.16 of
the related Pooling and Servicing Agreement ("Agreement"), IMC Mortgage Company
(as "Servicer"), hereby confirms the following:
(i) a review of the activities of the Servicer during 1997 and of performance
under the Agreement has been made under my supervision; and
(ii) to the best of my knowledge, based on such review, the Servicer has
fulfilled all of its obligations under the Agreement for the calendar year 1997.
IMC Mortgage Company
By: /s/ Thomas G. Middleton
---------------------------------------------
Thomas G. Middleton
President & Chief Operating Officer
<PAGE> 1
EXHIBIT 99.2
<PAGE> 2
REPORT OF INDEPENDENT ACCOUNTANTS-UNIFORM SINGLE ATTESTATION PROGRAM
To the Board of Directors of
IMC Mortgage Company and Subsidiaries
We have examined the assertion by IMC Mortgage Company and Subsidiaries'
management about compliance with the minimum servicing standards identified in
the Mortgage Bankers Association of America's Uniform Single Attestation Program
for Mortgage Bankers (USAP) as of and for the year ended December 31, 1997
included in the accompanying management assertion. Management is responsible for
IMC Mortgage Company and Subsidiaries' compliance with those minimum servicing
standards. Our responsibility is to express an opinion on management's assertion
about the entity's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accounts and, accordingly, included
examining, on a test basis, evidence about IMC Mortgage Company and
Subsidiaries' compliance with the minimum servicing standards and performing
such other procedures as we considered necessary in the circumstances. We
believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on IMC Mortgage Company and
Subsidiaries' compliance with the minimum servicing standards.
In our opinion, management's assertion that IMC Mortgage Company and
Subsidiaries complied with the aforementioned minimum servicing standards as of
and for the year ended December 31, 1997 is fairly stated, in all material
respects.
/S/ COOPERS & LYBRAND L.L.P.
Tampa, Florida
February 20, 1998
<PAGE> 3
[IMC MORTGAGE LETTERHEAD]
March 23, 1998
Coopers & Lybrand
101 East Kennedy Blvd. Suite 1500
Tampa, FL 33602
As of and for the year ended December 31, 1997, IMC Mortgage Company and
Subsidiaries has compiled in all material respects with minimum servicing
standards set forth in the Mortgage Bankers Association of America's Uniform
Single Attestation Program for Mortgage Bankers. For the period January 1 to
June 30, 1997, IMC Mortgage Company and Subsidiaries had in effect a fidelity
bond policy in the amount of $4,000,000. As of and for the six months ended
December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect a
fidelity bond policy in the amount of $8,000,000. As of and for the year ended
December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect an errors
and omissions policy in the amount of $2,000,000.
/s/ Stuart D. Marvin
-----------------------------------------
Stuart D. Marvin, Chief Financial Officer
<PAGE> 1
EXHIBIT 99.3
<PAGE> 2
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
================================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-97 PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE O/C PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 154,090,000.00 12,171,582.48 859,051.75 13,030,634.23 141,918,417.52
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00 2,747,591.14 790,576,008.66
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 800,000,000.00 12,171,582.48 4,626,132.59 16,797,715.07 787,828,417.52 2,747,591.14 790,576,008.66
- -----------------------------------------------------------------------------------------------------------------------------------
</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 78.99008683 5.57500000 921.00991317 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
- -------------------------------------------------------------------- -------------------------------------------------------
TOTALS 15.2144781 5.782665738 984.7855219
- --------------------------------------------------------------------
</TABLE>
===============================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE> 3
- -------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
===============================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-97 PAGE # 2
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 16,800,185.62
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 16,115,815.07
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 800,000,000.00
PRINCIPAL DISTRIBUTION 12,171,582.48
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 787,828,417.52
SECTION 7.08 (5) REALIZED LOSSES 0.00
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 7,141,673.82
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 94,285,049.65
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 633.88
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 133,471.01
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 526,391.83
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 13,030,634.23 84.57
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 1,074,155.11 1.34
PRINCIPAL PREPAYMENTS 8,349,202.47 10.44
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 2,747,591.02 3.43
PRIN PREPAY FROM PRE-FUND ACCT 633.88 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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 790,576,008.66
ENDING NUMBER OF LOANS OUTSTANDING 12,564
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE> 4
- -------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
===============================================================================
<TABLE>
<CAPTION>
DISTRIBUTION: 21-Jul-97 PAGE # 3
<S> <C> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5643%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 10.3656%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 2,747,591.14
CLASS M-1 CLASS M-2 CLASS B
----------------------------------------------------------
SECTION 7.09 (a)(xiiI) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
30-59 DAYS 469 29,228,554.41 3.30%
60-89 DAYS 102 6,214,978.34 0.70%
90 + DAYS 6 926,695.48 0.10%
-------------------------------------------------------------------------------
</TABLE>
*The number and aggregate principal balances of delinquent mortgage loans
includes loans in foreclosure and bankruptcy
<TABLE>
<S> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 1
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 28,891.91
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 0
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 0.00
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 0
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 0.00
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 5206
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 397,048,097.67
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY -
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000%
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE> 5
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
====================================================================================================================================
DISTRIBUTION: 20-Aug-97 PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE O/C PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 141,918,417.52 12,619,822.77 791,195.18 13,411,017.95 129,298,594.75
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00 5,468,776.40 780,677,371.15
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 0.00 0.00 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 787,828,417.52 12,619,822.77 4,558,276.02 17,178,098.79 775,208,594.75 5,468,776.40 780,677,371.15
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000
PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
- ------------------------------------------------------------ -----------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 81.89903805 5.13463028 839.11087512 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
- ----------------------------------------------------------- ----------------------------------------------------
TOTALS 15.77477847 5.697845025 969.0107434
- -----------------------------------------------------------
===================================================================================================================================
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS
WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
------------------------------------------------------------------
(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE> 6
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
====================================================================================================================================
DISTRIBUTION: 20-Aug-97 PAGE # 2
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 17,180,538.41
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 16,496,198.79
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 787,828,417.52
PRINCIPAL DISTRIBUTION 12,619,822.77
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 775,208,594.75
SECTION 7.08 (5) REALIZED LOSSES 0.00
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 19,622,170.56
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 13,411,017.95 87.03
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 696,200.72 0.87
PRINCIPAL PREPAYMENTS 9,202,436.79 11.50
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 2,721,185.26 3.40
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 780,677,371.15
ENDING NUMBER OF LOANS OUTSTANDING 12,419
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE> 7
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
====================================================================================================================================
DISTRIBUTION: 20-Aug-97 PAGE # 3
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5585%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 14.5347%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 5,468,776.40
CLASS M-1 CLASS M-2 CLASS B
-------------------------------------------
SECTION 7.09 (a)(xiiI) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
---------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
---------------------------------------------------------------------------------
30-59 DAYS 489 29,864,826.59 3.83%
60-89 DAYS 200 14,568,497.74 1.87%
90 + DAYS 76 5,053,672.82 0.65%
---------------------------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans includes
loans in foreclosure and bankruptcy
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 3
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 354,704.07
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 2
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 325,812.16
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 45
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,864,817.76
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 5152
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 392,771,730.67
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY -
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000%
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- -------------------------------------------------------------------------------
<PAGE> 8
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Sep-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE O/C PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 129,298,594.75 11,054,853.98 720,839.67 11,775,693.65 118,243,740.76
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00 8,142,370.00 772,296,110.76
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 0.00 0.00 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 775,208,594.75 11,054,853.98 4,487,920.51 15,542,774.49 764,153,740.76 8,142,370.00 772,296,110.76
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
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 71.74283850 4.67804316 767.36803662 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
----------------------------------
- -------------------------------------------------------------
TOTALS 13.81856748 5.609900638 955.192176
- -------------------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR
PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
- -------------------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
- -------------------------------------------------------------------------------
<PAGE> 9
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Sep-97 PAGE # 2
<TABLE>
<S> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 15,545,187.92
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 14,860,874.49
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 775,208,594.75
PRINCIPAL DISTRIBUTION 11,054,853.98
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 764,153,740.76
SECTION 7.08 (5) REALIZED LOSSES 0.00
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 26,096,696.86
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
<CAPTION>
PER $1000
---------
<S> <C> <C> <C>
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 11,775,693.65 76.42
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 626,475.92 0.78
PRINCIPAL PREPAYMENTS 7,754,784.47 9.69
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 2,673,593.59 3.34
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 772,296,110.76
ENDING NUMBER OF LOANS OUTSTANDING 12,284
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
<PAGE> 10
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Sep-97 PAGE # 3
<TABLE>
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5549%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 15.0386%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 8,142,370.00
<CAPTION>
CLASS M-1 CLASS M-2 CLASS B
----------------------------------------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(xiiI) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
<CAPTION>
------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
30-59 DAYS 492 31,775,112.81 4.11%
60-89 DAYS 207 12,578,604.81 1.63%
90 + DAYS 178 13,518,092.05 1.75%
------------------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans
includes loans in foreclosure and bankruptcy
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 31
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 2,567,185.93
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 28
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 2,212,481.86
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 67
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 4,332,002.51
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 5099
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 389,125,005.35
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 0
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000%
</TABLE>
<PAGE> 11
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
================================================================================
DISTRIBUTION: 20-Oct-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE O/C PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 118,243,740.76 15,286,100.41 659,208.85 15,945,309.26 102,957,640.35
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00 10,763,821.90 759,631,462.25
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 0.00 0.00 N/A
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 764,153,740.76 15,286,100.41 4,426,289.69 19,712,390.10 748,867,640.35 10,763,821.90 759,631,462.25
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
PRINCIPAL INTEREST END. CERT.
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 99.20241685 4.27807677 668.16561977
A-2 0.00000000 5.48333336 1000.00000000
A-3 0.00000000 5.59166670 1000.00000000
A-4 0.00000000 5.70000000 1000.00000000
A-5 0.00000000 5.95000000 1000.00000000
A-6 0.00000000 6.26666667 1000.00000000
A-7 0.00000000 5.90000000 1000.00000000
M-1 0.00000000 6.10000000 1000.00000000
M-2 0.00000000 6.29166659 1000.00000000
B 0.00000000 6.55833344 1000.00000000
- --------------------------------------------------------------------------------
TOTALS 19.10762551 5.532862113 936.0845504
- --------------------------------------------------------------------------------
</TABLE>
PASS THRU RATES
<TABLE>
<CAPTION>
INIT PASS CURR PASS
CLASS THRU RATE THRU RATE
- ------------------------------------------------------------------
<S> <C> <C>
A-1 6.69000000% 6.69000000%
A-2 6.58000000% 6.58000000%
A-3 6.71000000% 6.71000000%
A-4 6.84000000% 6.84000000%
A-5 7.14000000% 7.14000000%
A-6 7.52000000% 7.52000000%
A-7 7.08000000% 7.08000000%
M-1 7.32000000% 7.32000000%
M-2 7.55000000% 7.55000000%
B 7.87000000% 7.87000000%
- ------------------------------------------------------------------
</TABLE>
================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
----------------------------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
----------------------------------------------------------------------
(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE> 12
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
================================================================================
DISTRIBUTION: 20-Oct-97 PAGE # 2
<TABLE>
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 19,714,763.95
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 19,030,490.10
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 764,153,740.76
PRINCIPAL DISTRIBUTION 15,286,100.41
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 748,867,640.35
SECTION 7.08 (5) REALIZED LOSSES 12,064.76
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 28,479,671.70
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 15,945,309.26 103.48
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 728,732.35 0.91
PRINCIPAL PREPAYMENTS 11,744,466.46 14.68
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 2,633,516.66 3.29
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 179,384.94 0.22
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 759,631,462.25
ENDING NUMBER OF LOANS OUTSTANDING 12,093
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE> 13
- --------------------------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
================================================================================
DISTRIBUTION: 20-Oct-97 PAGE # 3
<TABLE>
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5490%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 15.6344%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 10,763,821.90
</TABLE>
<TABLE>
<CAPTION>
CLASS M-1 CLASS M-2 CLASS B
-----------------------------------------------
<S> <C> <C> <C> <C>
SECTION 7.09 (a)(xiii) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
</TABLE>
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF
DELINQUENT MORTGAGE LOANS:*
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
- --------------------------------------------------------------------------------
<S> <C> <C> <C>
30-59 DAYS 386 23,112,873.99 3.04%
60-89 DAYS 129 8,431,484.68 1.11%
90 + DAYS 288 20,048,187.02 2.64%
- --------------------------------------------------------------------------
</TABLE>
* The number and aggregate principal balances of delinquent mortgage loans
includes loans in foreclosure and bankruptcy
<TABLE>
<S> <C> <C>
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 58
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 4,656,648.76
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 28
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 2,104,471.24
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 80
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 5,013,099.11
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 5004
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 381,587,955.28
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00150810%
CUMULATIVE REALIZED LOSSES 12,064.76
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00150810%
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE> 14
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Nov-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 102,957,640.35 15,492,109.98 573,988.84 16,066,098.82 87,465,530.37
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 0.00 0.00 N/A
- -------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 748,867,640.35 15,492,109.98 4,341,069.68 19,833,179.66 733,375,530.37
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
ENDING
O/C PRINCIPAL
CLASS AMOUNT BALANCE
- -------------------------------------------
<S> <C> <C>
A-1
A-2
A-3
A-4
A-5 13,309,220.08 746,684,750.45
A-6
A-7
M-1
M-2
B
R
- -------------------------------------------
TOTALS 13,309,220.08 746,684,750.45
- -------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
<TABLE>
<CAPTION>
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-1 100.53935999 3.72502330 567.62625979 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
---------------------------------------
- ----------------------------------------------------------
TOTALS 19.36513748 5.4263371 916.719413
- ----------------------------------------------------------
===========================================================================================================
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS
WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE> 15
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Nov-97 PAGE # 2
<TABLE>
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 19,835,513.05
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 19,151,279.66
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 748,867,640.35
PRINCIPAL DISTRIBUTION 15,492,109.98
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 733,375,530.37
SECTION 7.08 (5) REALIZED LOSSES 13,670.58
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 37,886,076.98
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 16,066,098.82 104.26
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 0.00
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 700,924.62 0.88
PRINCIPAL PREPAYMENTS 12,185,847.85 15.23
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 2,559,068.76 3.20
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 46,268.75 0.06
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 746,684,750.45
ENDING NUMBER OF LOANS OUTSTANDING 11,881
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
<PAGE> 16
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Nov-97 PAGE # 3
<TABLE>
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5383%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 16.2464%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 13,309,220.08
CLASS M-1 CLASS M-2 CLASS B
---------------------------------------------------
SECTION 7.09 (a)(xiiI) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
-----------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
-----------------------------------------------------------------------
30-59 DAYS 694 41,451,635.59 5.55%
60-89 DAYS 186 12,160,614.73 1.63%
90 + DAYS 349 25,725,462.25 3.45%
-----------------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans
includes loans in foreclosure and bankruptcy
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 101
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 7,861,205.04
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 44
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 3,257,850.95
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 107
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 6,789,579.27
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 4903
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 374,819,133.21
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00321692%
CUMULATIVE REALIZED LOSSES 25,735.34
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00321692%
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
<PAGE> 17
EXHIBIT 19
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Dec-97 PAGE # 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE O/C PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 154,090,000.00 87,465,530.37 14,668,067.12 487,620.33 15,155,687.45 72,797,463.25
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17 122,750,000.00
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17 108,340,000.00
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00 108,310,000.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50 81,250,000.00 14,000,000.00 732,707,463.25
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00 37,260,000.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00 80,000,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00 32,000,000.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33 44,000,000.00
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67 32,000,000.00
R N/A N/A N/A 1,778,739.89 1,778,739.89 N/A
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS 800,000,000.00 733,375,530.37 14,668,067.12 6,033,441.06 20,701,508.18 718,707,463.25 14,000,000.00 732,707,463.25
- -----------------------------------------------------------------------------------------------------------------------------------
</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 95.19155766 3.16451639 472.43470212 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
- -------------------------------------------------- ------------------------------------
TOTALS 18.3350839 7.541801324 898.3843291
- --------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
ANN MARIE JOSE
THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
<PAGE> 18
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Dec-97 PAGE # 2
<TABLE>
<S> <C> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 20,703,797.89
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 18,240,868.29
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 733,375,530.37
PRINCIPAL DISTRIBUTION 14,668,067.12
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 718,707,463.25
SECTION 7.08 (5) REALIZED LOSSES 20,443.11
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 45,648,191.31
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 15,155,687.45 98.36
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 1,778,739.89
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 861,075.05 1.08
PRINCIPAL PREPAYMENTS 13,091,433.73 16.36
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 711,223.03 0.89
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 4,335.31 0.01
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 732,707,463.25
ENDING NUMBER OF LOANS OUTSTANDING 11,654
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
<PAGE> 19
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 22-Dec-97 PAGE # 3
<TABLE>
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5260%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 16.6506%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 14,000,000.00
CLASS M-1 CLASS M-2 CLASS B
--------------------------------------------------
SECTION 7.09 (a)(xiii) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
--------------------------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
--------------------------------------------------------------------------
30-59 DAYS 512 30,848,448.00 4.21%
60-89 DAYS 255 13,384,046.00 1.83%
90 + DAYS 440 31,977,345.00 4.36%
--------------------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans includes loans in
foreclosure and bankruptcy
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 146
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 11,512,147.23
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH N/A
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH N/A
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 106
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 6,484,668.91
NUMBER OF LOANS THAT ARE "BALLOON" LOANS N/A
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" N/A
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 6
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 286,800.31
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY N/A
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00577231%
CUMULATIVE REALIZED LOSSES 46,178.45
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00577231%
</TABLE>
<PAGE> 20
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Jan-98 PAGE # 1
<TABLE>
<CAPTION>
=====================================================================================================================
ORIGINAL BEGINNING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION
- ------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 154,090,000.00 72,797,463.25 14,737,255.04 405,845.86 15,143,100.90
A-2 122,750,000.00 122,750,000.00 0.00 673,079.17 673,079.17
A-3 108,340,000.00 108,340,000.00 0.00 605,801.17 605,801.17
A-4 108,310,000.00 108,310,000.00 0.00 617,367.00 617,367.00
A-5 81,250,000.00 81,250,000.00 0.00 483,437.50 483,437.50
A-6 37,260,000.00 37,260,000.00 0.00 233,496.00 233,496.00
A-7 80,000,000.00 80,000,000.00 0.00 472,000.00 472,000.00
M-1 32,000,000.00 32,000,000.00 0.00 195,200.00 195,200.00
M-2 44,000,000.00 44,000,000.00 0.00 276,833.33 276,833.33
B 32,000,000.00 32,000,000.00 0.00 209,866.67 209,866.67
R N/A N/A N/A 2,423,622.99 2,423,622.99
- -----------------------------------------------------------------------------------------
TOTALS 800,000,000.00 718,707,463.25 14,737,255.04 6,596,549.69 21,333,804.73
- -----------------------------------------------------------------------------------------
<CAPTION>
ENDING ENDING
CERTIFICATE O/C PRINCIPAL
BALANCE AMOUNT BALANCE
- -------------------------------------------------------
<S> <C> <C> <C>
A-1 58,060,208.21
A-2 122,750,000.00
A-3 108,340,000.00
A-4 108,310,000.00
A-5 81,250,000.00 14,000,000.00 717,970,208.21
A-6 37,260,000.00
A-7 80,000,000.00
M-1 32,000,000.00
M-2 44,000,000.00
B 32,000,000.00
R N/A
- ----------------------------------------------------------
TOTALS 703,970,208.21 14,000,000.00 717,970,208.21
- ----------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
PASS THRU RATES
<TABLE>
<CAPTION>
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 95.64056746 2.63382348 376.79413466 A-1 6.69000000% 6.69000000%
A-2 0.00000000 5.48333336 1000.00000000 A-2 6.58000000% 6.58000000%
A-3 0.00000000 5.59166670 1000.00000000 A-3 6.71000000% 6.71000000%
A-4 0.00000000 5.70000000 1000.00000000 A-4 6.84000000% 6.84000000%
A-5 0.00000000 5.95000000 1000.00000000 A-5 7.14000000% 7.14000000%
A-6 0.00000000 6.26666667 1000.00000000 A-6 7.52000000% 7.52000000%
A-7 0.00000000 5.90000000 1000.00000000 A-7 7.08000000% 7.08000000%
M-1 0.00000000 6.10000000 1000.00000000 M-1 7.32000000% 7.32000000%
M-2 0.00000000 6.29166659 1000.00000000 M-2 7.55000000% 7.55000000%
B 0.00000000 6.55833344 1000.00000000 B 7.87000000% 7.87000000%
- -------------------------------------------------------------------------- ---------------------------------
TOTALS 18.4215688 8.245687116 879.9627603
- --------------------------------------------------------------------------
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
----------------------------------------------------
ANN MARIE JOSE
THE CHASE MANHATTAN BANK-STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-7148
----------------------------------------------------
(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE> 21
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Jan-98 PAGE # 2
<TABLE>
====================================================================================================================================
<S> <C> <C>
SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 21,336,048.39
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 18,228,281.74
SECTION 7.08 (4) BEGINNING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 718,707,463.25
PRINCIPAL DISTRIBUTION 14,737,255.04
ENDING PRINCIPAL BALANCE OF THE OFFERED CERTIFICATES 703,970,208.21
SECTION 7.08 (5) REALIZED LOSSES 294.76
SECTION 7.08 (6) 60+ DAY DELINQUENT LOANS 48,060,024.36
SECTION 7.08 (7) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00
PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED TO THE SELLER 0.00
SECTION 7.08 (8) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
BECAUSE OF UNDERWATER LOANS
PER $1000
---------
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 15,143,100.90 98.27
CLASS A-2 DISTRIBUTION 673,079.17 5.48
CLASS A-3 DISTRIBUTION 605,801.17 5.59
CLASS A-4 DISTRIBUTION 617,367.00 5.70
CLASS A-5 DISTRIBUTION 483,437.50 5.95
CLASS A-6 DISTRIBUTION 233,496.00 6.27
CLASS A-7 DISTRIBUTION 472,000.00 5.90
CLASS M-1 DISTRIBUTION 195,200.00 6.10
CLASS M-2 DISTRIBUTION 276,833.33 6.29
CLASS B DISTRIBUTION 209,866.67 6.56
CLASS R DISTRIBUTION 2,423,622.99
SECTION 7.09 (a)(ii) CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 126,301.58 0.16
PRINCIPAL PREPAYMENTS 14,570,982.81 18.21
EXTRA PRINCIPAL DISTRIBUTION AMOUNT 294.76 0.00
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 39,675.89 0.05
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 M-1 CARRYFORWARD 0.00
CLASS M-2 CARRYFORWARD 0.00
CLASS B CARRYFORWARD 0.00
SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 717,970,208.21
ENDING NUMBER OF LOANS OUTSTANDING 11,441
SECTION 7.09 (a)(viii) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
</TABLE>
<PAGE> 22
IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-3
DISTRIBUTION: 20-Jan-98 PAGE # 3
<TABLE>
====================================================================================================================================
<S> <C> <C>
SECTION 7.09 (a)(ix) WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS 11.5322%
SECTION 7.09 (a)(x) HAS A TRIGGER EVENT OCCURRED? NO
SECTION 7.09 (a)(xi) SENIOR ENHANCEMENT PERCENTAGE 16.9923%
SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT 14,000,000.00
CLASS M-1 CLASS M-2 CLASS B
------------------------------------
SECTION 7.09 (a)(xiii) APPLIED REALIZED LOSS AMOUNT 0.00 0.00 0.00
REALIZED LOSS AMORTIZATION AMOUNT 0.00 0.00 0.00
UNPAID REALIZED LOSS AMOUNT 0.00 0.00 0.00
SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
------------------------------------------------------
CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
------------------------------------------------------
30-59 DAYS 320 18,603,751.93 2.59%
60-89 DAYS 166 9,634,953.45 1.34%
90 + DAYS 568 37,669,907.65 5.25%
------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage
loans includes loans in foreclosure and bankruptcy
SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 144
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 12,168,529.52
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 18
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 1,855,319.75
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 122
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 7,080,636.27
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 4686
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 359,063,380.00
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES 14
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 755,163.26
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY 904,770.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00580915%
CUMULATIVE REALIZED LOSSES 46,473.21
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00580915%
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
