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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) NOVEMBER 20, 1997
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IMC HOME EQUITY LOAN OWNER TRUST 1997-6
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
NEW YORK 333-31197-02 13-7133999
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
C/O THE CHASE MANHATTAN BANK
STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, NEW YORK, NY 10001-2697
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (813) 984-8801
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NO CHANGE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5. Other Events.
On November 20, 1997 a scheduled distribution was made from the
Trust to holders of the Class A Certificates. The information contained in the
Trustee's Monthly Servicing Report for the month of October, 1997 dated November
20, 1997 attached hereto as Exhibit 19 is hereby incorporated by reference.
In addition to the information included in the Trustee's Monthly
Report, the gross servicing compensation paid to the Servicer and Subservicers
for the month of October, 1997 was $236,933.18.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits.
19. Trustee's Monthly Servicing Report for the month of October, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of l934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
By: IMC SECURITIES, INC.,
As Depositor
By: /s/ Thomas G. Middleton
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Thomas G. Middleton
President, Chief Operating Officer,
Assistant Secretary and Director
By: /s/ Stuart D. Marvin
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Stuart D. Marvin
Chief Financial Officer
Dated: November 20, 1997
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
<S> <C> <C>
19. Trustee's Monthly Servicing Report 6
for the Month of October, 1997. --------
</TABLE>
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IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1997-6
DISTRIBUTION: 20-Nov-97 PAGE # 1
<TABLE>
<CAPTION>
===================================================================================================================================
ORIGINAL BEGINNING ENDING OVER- ENDING
NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN
BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
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<C> <C> <C> <C> <C> <C> <C> <C>
700,000,000.00 700,000,000.00 7,363,174.16 3,183,551.78 10,546,725.94 692,636,825.84 1,307,245.85 62,583,694.69
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</TABLE>
FACTOR INFORMATION PER $1,000 NOTE RATES
<TABLE>
<CAPTION>
=============================================== ============================
PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE
DISTRIBUTION DISTRIBUTION BALANCE RATE RATE
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<S> <C> <C> <C> <C>
10.51882022 4.54793111 989.48117978 5.8473% 5.8473%
=============================================== ============================
</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 1996, THE CHASE MANHATTAN BANK
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IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1997-6
DISTRIBUTION: 20-Nov-97 PAGE # 2
<TABLE>
<S> <C> <C> <C>
SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 10,618,484.01
SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 10,546,725.94
SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,307,246.26
SECTION 3.08 (4) INSURED PAYMENT 0.00
SECTION 3.08 (7) REALIZED LOSSES 0.00
SECTION 3.08 (8) OVERCOLLATERALIZATION REDUCTION AMOUNT 0.00
SECTION 3.08 (9) (A) PRE-FUNDED AMOUNT PREVIOUSLY USED 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS PRINCIPAL 0.00
(C) PRE-FUNDED ACCOUNT EARNINGS 175,004.41
(D) AMOUNTS TRANSFERRED FROM CAPITALIZED INTEREST A/C 0.00
PER $1000
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SECTION 3.09 (a)(i) NOTE DISTRIBUTION 10,546,725.94 15.07
SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 104,749.27 0.15
PRINCIPAL PREPAYMENTS 5,951,178.63 8.50
PREPAYMENTS FROM PRE-FUNDING ACCOUNT 0.00
OVERCOLLATERALIZATION INCREASE AMOUNT 1,307,246.26 1.87
OTHER 0.00 0.00
SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00
SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 562,583,694.69
ENDING NUMBER OF LOANS OUTSTANDING 5,586
SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 1,307,245.85
OVERCOLLATERALIZATION DEFICIT 0.00
SECTION 3.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
SECTION 3.09 (a)(x) WEIGHTED AVERAGE COUPON OF THE HOME EQUITY LOANS 10.1329%
SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A
SECTION 3.09 (a)(xiii) LOAN BALANCE OF EACH OF THE THREE LARGEST LOANS 532,740.96
499,157.21
499,056.34
SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00
AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00
SECTION 3.09 (a)(xvi) TOTAL REMAINING PRE-FUNDED AMOUNT IN PRE-FUNDING ACCOUNT 131,360,377.00
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
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IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1997-6
DISTRIBUTION: 20-Nov-97 PAGE # 3
<TABLE>
<S> <C> <C>
SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
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CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
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30-59 DAYS 368 33,801,056.82 6.01%
60-89 DAYS 134 10,582,470.27 1.88%
90 + DAYS 54 4,914,276.35 0.87%
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*The number and aggregate principal balances of delinquent mortgage
loans includes loans in foreclosure and bankruptcy
SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 4
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 489,178.55
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 301,964.99
SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 14
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,410,042.58
SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 26
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 2,493,455.05
SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY 0.00
SECTION 3.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000%
SECTION 3.09 (b)(vii) 60+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 0.00000000%
60+ DELINQUENT LOANS 15,496,746.62
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
