IMC HOME EQUITY LOAN TRUST 1997-7
8-K, 1998-02-04
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<PAGE>   1

- --------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C.  20549

                                    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)
                                January 26, 1998





                       IMC Home Equity Loan Trust 1997-7
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


<TABLE>
<S>                                                <C>                                  <C>
            Delaware                               333-24455-03                             Being Applied For
- ----------------------------------         ------------------------------               -------------------------
(State or Other Jurisdiction)                      (Commission                              (I.R.S. Employer
         of Incorporation)                         File Number)                             Identification No.)


c/o The Chase Manhattan Bank, as Trustee
 450 West 33rd Street, 15th Floor
        New York, New York                                                                        10001
- ----------------------------------                                                            --------------
      (Address of Principal                                                                     (Zip Code)
        Executive Offices)
</TABLE>


         Registrant's telephone number, including area code  (212) 946-8600
                                                             --------------

                                   No Change
   -------------------------------------------------------------------------
         (Former name or former address, if changed since last report)

<PAGE>   2
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS

         On January 26, 1998, IMC Home Equity Loan Trust 1997-7 (the "Trust")
acquired $15,548,634.03 of Subsequent Home Equity Loans pursuant to the terms
of the Pooling and Servicing Agreement dated as of November 1, 1997, among IMC
Securities, Inc. (the "Depositor"), as Depositor, IMC Mortgage Company (the
"Seller"), as Seller and Servicer, and The Chase Manhattan Bank, as Trustee and
the Subsequent Transfer Agreement, dated January 26, 1998, among the Depositor,
the Seller, and the Trust, as purchaser.  The Subsequent Home Equity Loans
possess the characteristics required by the Prospectus dated June 6, 1997 and
the Prospectus Supplement dated November 20, 1997, filed pursuant to Rule
424(b)(5) of the Act on November 25, 1997.  The Schedule of Subsequent Home
Equity Loans is attached to the Subsequent Transfer Agreement.



<PAGE>   3
ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(a)      Not applicable

(b)      Not applicable

(c)      Exhibits:

                 10.1     Subsequent Transfer Agreement dated as of January 26,
                          1998 among IMC Securities, Inc., as Depositor, IMC
                          Mortgage Company, as Seller and IMC Home Equity Loan
                          Trust 1997-7 as Purchaser.

<PAGE>   4
                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

<TABLE>
<S>                                       <C>
                                          IMC HOME EQUITY LOAN TRUST 1997-7

                                          By:      IMC SECURITIES, INC., as Depositor

                                          By:      /s/ Thomas Middleton
                                                   ----------------------------------------------
                                                   Name:    Thomas Middleton
                                                   Title:   President and Chief Operating Officer

January 26, 1998
</TABLE>


<PAGE>   1
                                                                    EXHIBIT 10.1



                         SUBSEQUENT TRANSFER AGREEMENT

         IMC Securities, Inc. (the "Depositor"), as Depositor, IMC Mortgage
Company (the "Seller"), as Seller, and IMC Home Equity Loan Trust 1997-7 (the
"Purchaser") pursuant to the Pooling and Servicing Agreement dated as of
November 1, 1997 among the Depositor, the Seller, as Seller and Servicer and
The Chase Manhattan Bank, as Trustee (the "Pooling and Servicing Agreement"),
hereby confirm their understanding with respect to the sale by the Seller and
the purchase by the Depositor and the sale by the Depositor and the purchase by
the Purchaser of those Home Equity Loans (the "Subsequent Home Equity Loans")
listed on the attached Schedule of Home Equity Loans.

         Conveyance of Subsequent Home Equity Loans.  As of January 26, 1998
(the "Subsequent Transfer Date"), the Seller does hereby irrevocably transfer,
assign, setover and otherwise convey to the Depositor and the Depositor does
hereby irrevocably transfer, assign, set over and otherwise convey to the
Purchaser, without recourse (except as otherwise explicitly provided for
herein) all right, title and interest in and to any and all benefits accruing
from the Subsequent Home Equity Loans (other than any principal  and interest
payments received thereon on or prior to January 1, 1998 (the "Subsequent
Cut-Off Date")) which are delivered to the Custodian on behalf of the Trustee
herewith (and all substitutions therefor as provided by Sections 3.03, 3.04 and
3.06 of the Pooling and Servicing Agreement), together with the related
Subsequent Home Equity Loan documents and the interest in any Property which
secured a Subsequent Home Equity Loan but which has been acquired by
foreclosure or deed in lieu of foreclosure, and all payments thereon and
proceeds of the conversion, voluntary or involuntary, of the foregoing;  and
proceeds of all the foregoing (including, but not by way of limitation, all
proceeds of any mortgage  insurance, hazard insurance and title insurance
policy relating to the Subsequent Home Equity Loans, cash proceeds, accounts,
accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit
accounts, rights to payment of any and every kind, and other forms of
obligations and receivables which at any time constitute all or part of or are
included in the proceeds of any of the foregoing). The Depositor shall deliver
the original Mortgage or mortgage assignment with evidence of recording thereon
(except as otherwise provided by the Pooling and Servicing Agreement) and other
required documentation in accordance with the terms set forth in Sections 3.05
and 3.07 of the Pooling and Servicing Agreement.

         The costs relating to the delivery of the documents specified in this
Subsequent Transfer Agreement and the Pooling and Servicing Agreement shall be
borne by the Depositor.

         The Depositor hereby affirms the representations and warranties set
forth in the Pooling and Servicing Agreement that relate to the Depositor and
the Subsequent Home Equity Loans as of the date hereof.  The Depositor hereby
delivers notice and confirms that each of the conditions set forth in Section
3.07(b), 3.07(c) and 3.07(d) to the Pooling and Servicing Agreement are
satisfied as of the date hereof.

         Pursuant to Section 3.07(a) of the Pooling and Servicing Agreement,
the Seller hereby instructs the Trustee to release one-hundred percent of the
aggregate principal balances of the Subsequent Home Equity Loans so transferred
from the Pre-Funding Account, $15,548,634.03 pursuant to this Subsequent
Transfer Agreement.

         All terms and conditions of the Pooling and Servicing Agreement are
hereby ratified, confirmed and incorporated herein, provided that in the event
of any conflict the provisions of this Subsequent Transfer Agreement shall
control over the conflicting provisions of the Pooling and Servicing Agreement.





<PAGE>   2
         Terms capitalized herein and not defined herein shall have their
respective meanings as set forth in the Pooling and Servicing Agreement.


                                         IMC SECURITIES, INC.
                                         as Depositor



                                         By:     /s/ George Nicholas
                                                 ------------------------------
                                         Name:   George Nicholas
                                                 ------------------------------
                                         Title:  Chief Executive Officer
                                                 ------------------------------


                                         IMC MORTGAGE COMPANY
                                         as Seller


                                         By:     /s/ George Nicholas
                                                 ------------------------------
                                         Name:   George Nicholas
                                                 ------------------------------
                                         Title:  Chief Executive Officer
                                                 ------------------------------

                                         THE CHASE MANHATTAN BANK,
                                         as Trustee for
                                         IMC HOME EQUITY LOAN TRUST 1997-7


                                         By:     /s/ Ann Marie Jose
                                                 ------------------------------
                                         Name:   Ann Marie Jose
                                                 ------------------------------
                                         Title:  Trust Officer
                                                 ------------------------------


Dated: January 26, 1998





<PAGE>   3

================================================================================
                    PAINEWEBBER REAL ESTATE SECURITIES INC.
                             LOAN SCHEDULE REPORT
                            IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term   Orig LTV       Orig Bal         Curr P+I      
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity    Comb LTV       Curr Bal         Curr Rate     
  Name/Address                       Lien Type              Modified                   Appraisal                      
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>               <C>
  AB7090025      /                   SINGLE FAMILY DETACH   120           10.36         20,000.00       289.84          
  JENSEN                             Primary                09/29/2007    91.71         19,699.74        12.250         
  989  HEADWATER ROAD                2                      No                         193,000.00                       
  ANNAPOLIS, MD 21403                                                                                                   
- -----------------------------------------------------------------------------------------------------------------
  AB7110004      /                   SINGLE FAMILY DETACH   180           13.20         12,672.00       168.33 
  NOEL                               Primary                11/10/2012   100.00         12,650.98        13.950
  903  BARRON AVE                    2                      No                          96,000.00              
  BALTIMORE, MD 21221                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AB7110015      /                   SINGLE FAMILY DETACH   180           33.06         47,934.00       636.75 
  SINGER                             Primary                11/25/2012   100.00         47,854.48        13.950
  512  GWYNNWEST ROAD                2                      No                         145,000.00              
  REISTERSTOW, MD 21136                                                                                        
- -----------------------------------------------------------------------------------------------------------------
  AD7100090      /                   SINGLE FAMILY DETACH   180           16.91         23,000.00       281.24 
  KING                               Primary                10/22/2012    95.00         22,910.47        12.350
  17  FOREST DRIVE                   2                      No                         136,000.00              
  SPRINGFIELD, VA 22150                                                                                        
- -----------------------------------------------------------------------------------------------------------------
  AD7100091      /                   SINGLE FAMILY ATTACH   240           90.00         67,500.00       705.94 
  TOMISELLI                          Primary                10/22/2017    90.00         67,302.44        11.200
  2315  SOUTH ALDER STREET           1                      No                          75,000.00              
  PHILADELPHI, PA 19148                                                                                        
- -----------------------------------------------------------------------------------------------------------------
  AD7100101      /                   SINGLE FAMILY DETACH   180           25.17         37,000.00       543.42 
  MALLOY                             Primary                10/22/2012   100.00         36,899.16        16.000
  985  SILVERTON CT                  2                      No                         147,000.00              
  LUSBY, MD 20657                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  AD7100113      /                   SINGLE FAMILY DETACH   180           23.60         38,000.00       535.75 
  JOHNSTON                           Primary                10/27/2012    98.98         37,887.04        15.150
  220  TANGLEWOOD LANE               2                      No                         161,000.00              
  STAFFORD, VA 22554                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  AD7100128      /                   SINGLE FAMILY DETACH   180           17.08         31,600.00       445.52 
  MCNEAL                             Primary                10/21/2012   100.00         31,496.15        15.150
  6  CORY COURT                      2                      No                         185,000.00              
  STAFFORD, VA 22554                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  AD7100156      /                   SINGLE FAMILY DETACH   180           30.85         43,800.00       575.96 
  SACRA                              Primary                11/03/2012    90.00         43,725.91        13.750
  4413  PARTLOW ROAD                 2                      No                         142,000.00              
  PARTLOW, VA 22534                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  AD7100161      /                   SINGLE FAMILY DETACH   180           15.00         21,000.00       278.96 
  HILL                               Primary                11/03/2012   100.00         20,965.17        13.950
  2719  ARNOLD ROAD                  2                      No                         140,000.00              
  LEXINGTON, NC 27292                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         1       Page Balance:      $341,391.54

<PAGE>   4

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV       Orig Bal        Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV       Curr Bal        Curr Rate          
  Name/Address                       Lien Type              Modified                    Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>            <C>           
  AD7110005      /                   SINGLE FAMILY DETACH   360           90.00         63,000.00       645.60   
  ROBERTSON                          Primary                11/05/2027    90.00         62,981.77        11.950  
  1827  ASHLEY ST                    1                      No                          70,000.00                
  PHILADELPHI, PA 19126                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110006      /                   SINGLE FAMILY DETACH   180           90.00         58,500.00       657.58   
  MARTIN                             Primary                11/05/2012    90.00         58,268.50        10.800  
  1411S CAREY ST                     1                      No                          65,000.00                
  BALTIMORE, MD 21230                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  AD7110014      /                   Town House             240           90.00         52,200.00       531.72   
  VERROCA                            Primary                11/07/2017    90.00         52,138.08        10.800  
  523S BROAD ST                      1                      No                          58,000.00                
  LEBANON, PA 17042                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  AD7110021      /                   SINGLE FAMILY DETACH   180           42.32         49,939.00       666.74   
  BURNS                              Primary                11/10/2012    90.00         49,856.96        14.050  
  6210  LEE PLACE                    2                      No                         118,000.00                
  CAPITOL HEI, MD 20743                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110043      /                   SINGLE FAMILY ATTACH   180           16.04         19,247.00       266.09   
  STOCKSLAGER                        Primary                11/17/2012   100.00         19,033.58        14.750  
  4  SAMANTHA COURT                  2                      No                         120,000.00                
  OWINGS MILL, MD 21117                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110052      /                   SINGLE FAMILY ATTACH   240           90.00         45,000.00       458.38   
  THURMAN                            Primary                11/15/2017    90.00         44,946.62        10.800  
  272  E. SLOCUM STREET              1                      No                          50,000.00                
  PHILADELPHI, PA 19119                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110073      /                   SINGLE FAMILY DETACH   180           22.91         28,750.00       397.47   
  GWALTNEY                           Primary                11/24/2012    94.62         28,705.92        14.750  
  506  COMANCHE TRAIL                2                      No                         125,500.00                
  WINSTON SAL, NC 27107                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110077      /                   SINGLE FAMILY ATTACH   180           18.46         12,000.00       167.54   
  CARAMMANNA                         Primary                11/24/2012    18.46         11,981.96        14.950  
  1924  DURFOR STREET                1                      No                          65,000.00                
  PHILADELPHI, PA 19145                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110081      /                   SINGLE FAMILY DETACH   180           87.00         41,760.00       391.39   
  BILAL/MOSES                        Primary                11/24/2012    87.00         41,744.45        10.800  
  6116  CHANCELLOR STREET            1                      No                          48,000.00                
  PHILADELPHI, PA 19139                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  AD7110091      /                   SINGLE FAMILY ATTACH   180           20.00         20,000.00       301.45   
  ALSTON                             Primary                11/26/2012   100.00         19,974.38        16.550  
  17  SHARROW COURT                  2                      No                         100,000.00                
  BALTIMORE, MD 21244                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         2       Page Balance:      $389,632.22
<PAGE>   5

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal       Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal       Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- ----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>        
  AD7110103      /                   SINGLE FAMILY DETACH   180           33.98         18,690.00       284.33  
  BRANDON                            Primary                12/01/2012   100.00         18,666.55        16.750 
  608  N. NEGLEY AVENUE              2                      No                          55,000.00               
  PITTSBURGH, PA 15206                                                                                          
- ----------------------------------------------------------------------------------------------------------------
  BD7020162      /                   SINGLE FAMILY DETACH   180           55.00         89,650.00     1,307.27  
  MALCOLM                            Primary                02/24/2012    55.00         89,596.36        17.400 
  550  W PARK                        1                      No                         163,000.00               
  OLATHE, KS 66061                                                                                              
- ----------------------------------------------------------------------------------------------------------------
  BD7020217      /                   SINGLE FAMILY DETACH   180           45.00         27,000.00       346.07  
  BOROTA                             Primary                02/27/2012    74.67         26,548.94        13.250 
  10337  LANARK                      2                      No                          60,000.00               
  DETROIT, MI 48224                                                                                             
- ----------------------------------------------------------------------------------------------------------------
  BD7070022      /                   SINGLE FAMILY DETACH   180           31.37         36,700.00       486.29  
  HIDE                               Primary                07/16/2012    84.93         36,383.17        13.900 
  1904  S CLAIRBORNE RD              2                      No                         117,000.00               
  OLATHE, KS 66062                                                                                              
- ----------------------------------------------------------------------------------------------------------------
  BD7070325      /                   SINGLE FAMILY DETACH   180           45.46         50,000.00       730.87  
  COTA                               Primary                07/16/2012   100.00         48,928.28        15.900 
  103  BURNING OAK CT                2                      No                         112,000.00               
  ROSCOMMON, MI 48653                                                                                           
- ----------------------------------------------------------------------------------------------------------------
  BD7070639      /                   SINGLE FAMILY DETACH   240           52.94         45,000.00       483.00  
  WILLIAMS                           Primary                07/18/2017    52.94         44,668.66        11.600 
  1019  CHURCH ST                    1                      No                          85,000.00               
  MORRISVILLE, NC 27560                                                                                         
- ----------------------------------------------------------------------------------------------------------------
  BD7070640      /                   SINGLE FAMILY DETACH   180           34.43         24,000.00       365.62  
  WILES SR.                          Primary                07/17/2012    34.43         23,991.66        18.200 
  BOX 455 MARKET ST                  1                      No                          73,000.00               
  PILLOW, PA 17080                                                                                              
- ----------------------------------------------------------------------------------------------------------------
  BD7070641      /                   SINGLE FAMILY DETACH   240           50.00         47,500.00       740.39  
  TAYLOR                             Primary                07/17/2017    50.00         47,395.78        18.200 
  424  ESHELMAN ST                   1                      No                          95,000.00               
  HIGHSPIRE, PA 17034                                                                                           
- ----------------------------------------------------------------------------------------------------------------
  BD7070797      /                   SINGLE FAMILY DETACH   180           70.00         60,200.00       739.58  
  RICHARDSON                         Primary                07/17/2012    70.00         60,150.55        14.550 
  6011  N RAILROAD RD                1                      No                          86,000.00               
  MORGANTOWN, IN 46160                                                                                          
- ----------------------------------------------------------------------------------------------------------------
  BD7070955      /                   SINGLE FAMILY DETACH   180           70.00         46,900.00       682.29  
  ROBINSON                           Primary                07/14/2012    70.00         46,560.40        15.800 
  10005  GODWIN DR                   1                      No                          67,000.00               
  LITTLE ROCK, AR 72204                                                                                         
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         3       Page Balance:      $442,890.35
<PAGE>   6

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  CB7100059      /                   SINGLE FAMILY DETACH   180           90.00         42,030.00       496.35   
  SMITH                              Primary                12/01/2012    90.00         41,943.44        11.700  
  2553  EAST 23RD AVENUE             1                      No                          46,700.00                
  GARY, IN 46407                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  CB7100062      /                   SINGLE FAMILY DETACH   180           80.00         44,000.00       365.18   
  MCMURRAY                           Primary                11/03/2012    80.00         43,977.65         9.350  
  3256  TOD AVENUE                   1                      No                          55,000.00                
  WARREN, OH 44485                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  CB7100071      /                   SINGLE FAMILY DETACH   360           80.00        106,400.00       879.19   
  POE                                Primary                11/28/2027    80.00        106,345.41         9.300  
  2349  HENDRICKS ST                 1                      No                         133,000.00                
  GARY, IN 46404                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  CB7100277      /                   SINGLE FAMILY DETACH   180           20.00         16,400.00       221.06   
  SYMMES                             Primary                11/17/2012   100.00         16,373.55        14.240  
  1819  POPLAR STREET                2                      No                          82,000.00                
  ANDERSON, IN 46012                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  CB7100374      /                   SINGLE FAMILY DETACH   180           80.00         60,000.00       497.96   
  HERRING                            Primary                11/24/2012    80.00         59,892.11         9.350  
  3448  163RD STREET                 1                      No                          75,000.00                
  HAMMOND, IN 46323                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  CB7100394      /                   SINGLE FAMILY DETACH   180           68.37         33,500.00       451.55   
  HACKMANN, JR.                      Primary                11/26/2012   100.00         33,445.98        14.240  
  310E 1ST ST                        2                      No                          49,000.00                
  HUNTINGBURG, IN 47542                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  CB7100417      /                   SINGLE FAMILY DETACH   180           26.56         17,000.00       229.15   
  ROSS                               Primary                11/14/2012    95.13         16,972.58        14.240  
  513  NORTH POLK STREET             2                      No                          64,000.00                
  OAKLAND CIT, IN 47660                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  CB7100430      /                   SINGLE FAMILY DETACH   180           20.00         29,000.00       390.90   
  DABBERT                            Primary                11/10/2012   100.00         28,903.23        14.240  
  1061  MONTICELLO DRIVE             2                      No                         145,000.00                
  AURORA, IL 60506                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  CB7110338      /                   SINGLE FAMILY DETACH   180           20.00         26,600.00       358.55   
  POE                                Primary                11/28/2012   100.00         26,557.10        14.240  
  2349  HENDRICKS STREET             2                      No                         133,000.00                
  GARY, IN 46404                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  CC7100016      /                   SINGLE FAMILY DETACH   180           77.00        123,200.00     1,361.87   
  STUCKEY                            Primary                10/27/2012    77.00        123,167.64        12.990  
  2638  SUNSET AVENUE                1                      No                         160,000.00                
  SPRINGFIELD, OH 45505                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         4       Page Balance:      $497,578.69
<PAGE>   7

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  DB7100029      /                   SINGLE FAMILY DETACH   120           17.12         21,400.00       331.63   
  SHELTON                            Primary                10/22/2007   100.00         21,233.33        13.950  
  118  LENOX STREET                  2                      No                         125,000.00                
  BRACEVILLE, IL 60407                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  DB7100043      /                   SINGLE FAMILY DETACH   180           30.12         50,000.00       664.19   
  MCMICHAEL                          Primary                10/27/2012    99.70         49,833.16        13.950  
  201  SURREY RD                     2                      No                         166,000.00                
  SOUTH HAMPT, PA 18966                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  DB7100088      /                   SINGLE FAMILY DETACH   240           90.00         45,000.00       441.74   
  NASH                               Primary                11/03/2017    90.00         44,942.64        10.250  
  970  WOODLAWN STREET               1                      No                          50,000.00                
  PHILADELPHI, PA 19138                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  DB7100090      /                   SINGLE FAMILY DETACH   180           90.00         93,600.00       873.74   
  HUTCHINSON                         Primary                11/03/2012    90.00         93,564.76        10.750  
  2826  PINNACLE DRIVE               1                      No                         104,000.00                
  COLORADO SP, CO 80910                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  DB7110007      /                   SINGLE FAMILY ATTACH   180           90.00         55,350.00       506.31   
  HENDERSON                          Primary                11/03/2012    90.00         55,328.00        10.500  
  5911  BELLONA AVE                  1                      No                          93,200.00                
  BALTIMORE, MD 21212                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  DB7110018      /                   SINGLE FAMILY DETACH   360           90.00        116,100.00     1,018.00   
  KUBACK                             Primary                11/04/2027    90.00        116,048.53         9.990  
  RR3  BOX 4749-D3                   1                      No                         129,000.00                
  CRESCO, PA 18326                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  DB7110025      /                   SINGLE FAMILY DETACH   180           14.80         18,500.00       219.66   
  LEE                                Primary                11/05/2012    90.02         18,461.92        11.800  
  5440  TAYLOR STREET                2                      No                         125,000.00                
  BLADENSBURG, MD 20710                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  DB7110040      /                   SINGLE FAMILY DETACH   180           90.00        145,800.00     1,306.51   
  FRITZ                              Primary                11/05/2012    90.00        145,738.87        10.250  
  5608  MEADOW DRIVE                 1                      No                         162,000.00                
  OREFIELD, PA 18069                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  DD7110001      /                   SINGLE FAMILY DETACH   180            8.26         50,000.00       425.91   
  GILLIAM                            Primary                11/03/2012     8.26         49,976.17         9.650  
  17  OXFORD STREET                  1                      No                         605,000.00                
  CHEVY CHASE, MD 20815                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  DD7110003      /                   SINGLE FAMILY DETACH   180           21.13         15,000.00       182.44   
  ARREOLA                            Primary                11/03/2012    79.12         14,970.68        12.250  
  818  W. OAKLAND                    2                      No                          71,000.00                
  BLOOMINGTON, IL 61701                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         5       Page Balance:      $610,098.06
<PAGE>   8

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  DD7110008      /                   SINGLE FAMILY DETACH   180           37.78         34,000.00       380.10   
  STOBAUGH                           Primary                11/03/2012    79.82         33,992.48        13.150  
  5610  W. CHEROKEE PATH             2                      No                          90,000.00                
  PEORIA, IL 61607                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  DD7110011      /                   SINGLE FAMILY DETACH   180           20.74         17,630.00       230.65   
  ROSARIO                            Primary                11/04/2012   100.00         17,599.88        13.650  
  24  FERN RIDGE ROAD                2                      No                          85,000.00                
  BLAKESLEE, PA 18610                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  EB7050013      /                   SINGLE FAMILY DETACH   180           70.00         78,400.00       791.38   
  CHANCE                             Primary                05/28/2012    70.00         78,229.04        11.750  
  6506  KNOLLBROOK DR                1                      No                         112,000.00                
  ADELPHI, MD 20783                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  EB7090002      /                   SINGLE FAMILY DETACH   180           28.41         50,000.00       665.53   
  KING                               Primary                09/15/2012    97.53         49,749.26        13.990  
  607  HAMSHER AVENUE                2                      No                         176,000.00                
  TOPTON, PA 19562                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  ED7100031      /                   SINGLE FAMILY DETACH   180           18.75         22,500.00       248.09   
  SILVESTRINI                        Primary                10/29/2012    98.38         22,366.66         9.690  
  714-716 BEARTREE RD                2                      No                         120,000.00                
  LAKE ARIEL, PA 18436                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  ED7110013      /                   SINGLE FAMILY DETACH   180           90.00        112,500.00     1,113.22   
  DEBECK                             Primary                11/05/2012    90.00        112,463.97        11.490  
  RR 1  BOX 197                      1                      No                         125,000.00                
  BIRDSBORO, PA 19508                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  FB7100273      /                   SINGLE FAMILY DETACH   360           75.76        100,000.00       801.03   
  FLETCHER                           Primary                11/17/2027    75.76         99,944.80         8.950  
  90  CEDAR STREET                   1                      No                         132,000.00                
  MOUNT HOLLY, PA 17065                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FB7100828      /                   SINGLE FAMILY DETACH   180           90.00         35,910.00       361.11   
  AMISSAH                            Primary                11/12/2012    90.00         35,889.01        11.700  
  430  EAST HIGH STREET              1                      No                          44,000.00                
  PHILADELPHI, PA 19144                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FB7101056      /                   SINGLE FAMILY DETACH   360           90.00         59,400.00       597.32   
  TURMAN                             Primary                11/17/2027    90.00         59,381.83        11.700  
  4301  RUSHMORE PLACE               1                      No                          66,000.00                
  FOREST PARK, GA 30297                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FB7101409      /                   SINGLE FAMILY DETACH   120           80.00        116,000.00     1,472.58   
  ECKERT                             Primary                11/13/2007    80.00        115,374.83         9.050  
  603  SAINT PAUL STREET             1                      No                         145,000.00                
  WHITEHALL, PA 18052                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         6       Page Balance:      $624,991.76
<PAGE>   9

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  FB7110277      /                   SINGLE FAMILY DETACH   180           18.32         24,000.00       323.50   
  BILLIPS                            Primary                11/26/2012    91.60         23,961.30        14.240  
  2414  BOYDS CREEK HIGHWAY          2                      No                         131,000.00                
  SEYMOUR, TN 37865                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FB7110534      /                   SINGLE FAMILY DETACH   180           90.00         90,000.00       840.14   
  GOINS                              Primary                11/21/2012    90.00         89,966.11        10.750  
  3347  ALETHA DRIVE                 1                      No                         100,000.00                
  BATON ROUGE, LA 70514                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FC7041117      /                   SINGLE FAMILY DETACH   180           65.91         29,000.00       374.59   
  WRIGHT                             Primary                05/01/2012    65.91         28,686.83        13.400  
  16775  WOODINGHAM                  1                      No                          44,000.00                
  DETROIT, MI 48221                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7046077      /                   4-Family               360           65.00         32,500.00       353.18   
  JONES JR.                          Investor               02/20/2027    65.00         32,413.54        12.750  
  152  FOUNTAIN                      1                      No                          50,000.00                
  BATTLE CREE, MI 49017                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FC7055131      /                   SINGLE FAMILY DETACH   180           75.00         34,500.00       445.63   
  BETTS                              Primary                05/01/2012    75.00         34,191.28        13.400  
  12301  STOEPEL                     1                      No                          46,000.00                
  DETROIT, MI 48204                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7055605      /                   SINGLE FAMILY DETACH   180           70.00         35,700.00       408.92   
  COLWELL                            Primary                06/01/2012    70.00         35,654.99        13.500  
  420  HAMPSHIRE DR                  1                      No                          51,000.00                
  HAMILTON, OH 45011                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  FC7100063      /                   SINGLE FAMILY DETACH   180           27.44         22,500.00       310.30   
  SWINDELL                           Primary                11/18/2012    98.45         22,465.33        14.700  
  317  LENNOX AVENUE                 2                      No                          82,000.00                
  NORFOLK, VA 23503                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7100427      /                   SINGLE FAMILY DETACH   120           14.67         22,000.00       350.91   
  MEADOWS                            Primary                11/14/2007    90.60         21,918.59        14.700  
  804  UNION FORGE LANE              2                      No                         150,000.00                
  CHESAPEAKE, VA 23320                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  FC7100451      /                   SINGLE FAMILY DETACH   180           34.23         46,900.00       632.49   
  KENNEY                             Primary                10/30/2012    99.63         46,748.00        14.250  
  2  ELIZABETH ROAD                  2                      No                         137,000.00                
  BILLERICA, MA 01821                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  FC7105971      /                   SINGLE FAMILY DETACH   360           10.00         20,000.00       175.51   
  COHEN                              Primary                07/01/2027    85.00         18,575.61        10.000  
  1057  TWIN SILO LANE               2                      No                         200,000.00                
  HUNTINGDON, PA 19006                                                                                           
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         7       Page Balance:      $354,581.58
<PAGE>   10

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  FC7106683      /                   SINGLE FAMILY DETACH   180           83.58         50,150.00       419.87   
  FULLER                             Primary                08/29/2012    83.58         49,735.63         9.450  
  4905  HARVEY AVENUE                1                      No                          60,000.00                
  ELKTON, FL 32033                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  FC7115078      /                   SINGLE FAMILY DETACH   144           10.00         13,400.00       183.79   
  DRNACH                             Primary                09/29/2009   100.00         13,281.19        12.950  
  135  CRANBROOKE DR                 2                      No                         134,000.00                
  CORAOPOLIS, PA 15108                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  FC7115102      /                   SINGLE FAMILY DETACH   120           12.99         10,000.00       149.02   
  PALYO                              Primary                10/22/2007    95.84          9,917.35        12.950  
  125  UNION ST                      2                      No                          77,000.00                
  MUNHALL, PA 15120                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7115393      /                   SINGLE FAMILY DETACH   180           90.00         54,900.00       481.39   
  SANTIAGO                           Primary                11/15/2012    90.00         54,875.65         9.990  
  13206  CARRINGTON AVE              1                      No                          61,000.00                
  CLEVELAND, OH 44135                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  FC7115468      /                   SINGLE FAMILY DETACH   180           20.00         18,200.00       241.77   
  WATSON                             Primary                10/15/2012   100.00         18,139.26        13.950  
  1048  SERRILL AVENUE               2                      No                          91,000.00                
  YEADON, PA 19050                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  FC7115492      /                   SINGLE FAMILY DETACH   180           39.61         63,381.00       801.51   
  BONNER                             Primary                11/11/2012    90.00         63,265.59        12.990  
  47960  JACKSON RUN ROAD            2                      No                         160,000.00                
  LEXINGTON P, MD 20653                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FC7115551      /                   SINGLE FAMILY DETACH   180           70.00         38,500.00       363.74   
  ANNIS                              Primary                10/20/2012    70.00         38,471.81        10.900  
  30129  PAIGE FISHER RD             1                      No                          55,000.00                
  OAKHALL, VA 23416                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7115565      /                   PUD (Detached)         180           28.99         40,000.00       482.44   
  FREDERICK                          Primary                10/15/2012   100.00         39,840.79        12.100  
  5  RIDGE BOULEVARD                 2                      No                         138,000.00                
  WILMINGTON, DE 19808                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  FC7115622      /                   SINGLE FAMILY DETACH   360           80.00         51,200.00       546.44   
  BOWERS                             Primary                10/23/2027    80.00         51,173.65        12.500  
  11  RALPH LANE                     1                      No                          69,000.00                
  STAFFORD, NJ 08050                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  FC7115693      /                   SINGLE FAMILY DETACH   180           90.00         75,600.00       677.46   
  JANTZI                             Primary                11/12/2012    90.00         75,568.29        10.250  
  358  CORTLAND DR                   1                      No                          84,000.00                
  ONTARIO, NY 14616                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         8       Page Balance:      $414,269.21
<PAGE>   11


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>            <C>           
  FC7115696      /                   SINGLE FAMILY DETACH   180           20.61         34,000.00       441.21   
  KIDWELL                            Primary                11/13/2012    91.70         33,941.01        13.490  
  7720  CAROL ROAD                   2                      No                         165,000.00                
  PORT TOBACC, MD 20677                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FC7115701      /                   SINGLE FAMILY DETACH   180           11.62         24,000.00       319.46   
  MATTHEWS                           Primary                11/17/2012    99.58         23,960.34        13.990  
  408  TIMBER LAKE DRIVE             2                      No                         206,500.00                
  venetia, PA 15367                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  FC7115782      /                   SINGLE FAMILY DETACH   360           90.00         67,500.00       681.36   
  FELTER                             Primary                11/17/2027    90.00         67,479.58        11.750  
  920  21ST STREET SE                1                      No                          75,000.00                
  CEDAR RAPID, IA 52403                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  FC7115786      /                   SINGLE FAMILY DETACH   180           80.00         28,000.00       363.53   
  HARVEY                             Primary                10/09/2012    80.00         27,902.39        13.500  
  816  9TH STREET NW                 1                      No                          28,000.00                
  CAIRO, GA 31728                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  FC7125180      /                   SINGLE FAMILY DETACH   180           90.00         54,900.00       633.16   
  BRUCE                              Primary                11/16/2012    90.00         54,889.04        13.600  
  8219  RESERVOIR                    1                      No                          61,000.00                
  ROANOKE, VA 24019                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  MB7110004      /                   SINGLE FAMILY DETACH   180           20.00         37,000.00       486.55   
  DELACRUZ                           Primary                11/10/2012   100.00         36,937.41        13.750  
  24  LINDON ROAD                    2                      No                         185,000.00                
  PEABOBY, MA 01960                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  MB7110005      /                   SINGLE FAMILY DETACH   180           21.90         31,750.00       427.96   
  GRIFFIN                            Primary                11/10/2012    99.97         31,698.81        14.240  
  87  GUERNSEY STREET                2                      No                         145,000.99                
  ROSLINDALE, MA 02131                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  MB7110007      /                   SINGLE FAMILY DETACH   180           17.76         23,980.00       323.23   
  AMARAL                             Primary                11/12/2012   100.00         23,941.33        14.240  
  172  WORCESTER STREET              2                      No                         135,000.00                
  NEW BEDFORD, MA 02745                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7070341      /                   SINGLE FAMILY DETACH   180           22.11         13,200.00       184.66   
  LEACH                              Primary                07/21/2012    99.93         13,098.64        14.990  
  329  STIFFEL RD                    2                      No                          59,700.00                
  WEST LAKE, LA 70669                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  MC7100262      /                   SINGLE FAMILY DETACH   180           16.56         20,200.00       254.25   
  MELFI SR                           Primary                10/20/2012    99.67         20,125.40        12.900  
  1958  CRANSTON ST                  2                      No                         122,000.00                
  PROVIDENCE, RI 02920                                                                                           
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:         9       Page Balance:      $333,973.95
<PAGE>   12

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  MC7110073      /                   SINGLE FAMILY DETACH   180           90.00        119,700.00     1,117.38   
  BELMONT                            Primary                11/15/2012    90.00        119,654.93        10.750  
  43  INGRAM HILL ROAD               1                      No                         133,000.00                
  OLD SAYBROO, CT 06475                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7110155      /                   SINGLE FAMILY DETACH   240           12.31         19,700.00       227.30   
  STEPHENS                           Primary                10/30/2017    92.31         19,663.82        12.750  
  9703  SHUTTLE COURT                2                      No                         160,000.00                
  UPPER MARLB, MD 20772                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7110164      /                   SINGLE FAMILY DETACH   180           20.00         24,400.00       304.72   
  MAXWELL                            Primary                10/20/2012   100.00         24,308.58        12.750  
  6880  BARKER DRIVE                 2                      No                         122,000.00                
  CANAL WINCH, OH 43110                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7110198      /                   SINGLE FAMILY DETACH   240           20.00         29,400.00       339.22   
  HAYGOOD JR                         Primary                10/29/2017   100.00         29,345.24        12.750  
  606  TYLER ROAD                    2                      No                         147,000.00                
  SALEM, VA 24153                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  MC7110207      /                   SINGLE FAMILY DETACH   180           25.42         30,000.00       369.76   
  WALTERS                            Primary                10/16/2012    99.25         29,884.88        12.500  
  1251  CROOKED CREEK ROAD           2                      No                         118,000.00                
  WATKINSVILL, GA 30677                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7110253      /                   SINGLE FAMILY DETACH   180           20.00         18,400.00       229.79   
  COX                                Primary                10/29/2012   100.00         18,331.06        12.750  
  2105  VARDEN COURT                 2                      No                          92,000.00                
  CHARLOTTE, NC 28208                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  MC7110258      /                   SINGLE FAMILY DETACH   180           20.00         28,500.00       348.49   
  TADE                               Primary                10/29/2012   100.00         28,389.07        12.350  
  187  GREEN HARBOR DRIVE            2                      No                         142,500.00                
  OLD HICKORY, TN 37138                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  MC7110259      /                   SINGLE FAMILY DETACH   180           20.00         16,000.00       199.81   
  BURNEY                             Primary                10/24/2012   100.00         14,816.55        12.750  
  3905  MALLARD DRIVE                2                      No                          80,000.00                
  NASHVILLE, TN 37218                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  MC7110260      /                   SINGLE FAMILY DETACH   240           19.77         35,000.00       403.83   
  MISCHLER                           Primary                10/28/2017    99.77         34,935.75        12.750  
  1602  STONEWALL DRIVE              2                      No                         177,000.00                
  NEWARK, OH 43055                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  MC7110270      /                   SINGLE FAMILY DETACH   120           20.00         22,400.00       331.16   
  JOINES                             Primary                10/17/2007   100.00         22,212.68        12.750  
  1009  WINFIELD DRIVE               2                      No                         112,000.00                
  BEL AIR, MD 21015                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        10       Page Balance:      $341,542.56
<PAGE>   13

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>            <C>           
  MC7110271      /                   SINGLE FAMILY DETACH   180           25.00         22,500.00       303.43   
  CHRISTIAN                          Primary                10/16/2012   100.00         22,427.07        14.250  
  427 N. RAYNOR                      2                      No                          90,000.00                
  JOLIET, IL 60435                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  MC7110280      /                   SINGLE FAMILY DETACH   120           24.21         23,000.00       340.03   
  PEARTHREE                          Primary                10/30/2007    94.21         22,807.66        12.750  
  75  ELKSIDE ROAD                   2                      No                          95,000.00                
  ELKTON, MD 21921                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  MC7110369      /                   Condo Less Than        180           15.96         30,000.00       414.75   
                                     5 Floors
  DARCY                              Primary                11/01/2012    95.21         29,907.43        14.750  
  2503  VANTAGE COURT                2                      No                         188,000.00                
  DENVILLE, NJ 07834                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  MC7120020      /                   SINGLE FAMILY DETACH   360           90.00         70,200.00       655.30   
  DEMAREST                           Primary                12/01/2027    90.00         70,173.57        10.750  
  3  BUCHANAN AVENUE                 1                      No                          78,000.00                
  SCHENECTADY, NY 12304                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NB7100103      /                   SINGLE FAMILY DETACH   180           90.00         40,500.00       385.39   
  DEBRUYN                            Primary                11/04/2012    90.00         40,484.98        10.990  
  400  AMES STREET                   1                      No                          45,000.00                
  ROCHESTER, NY 14611                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  NB7110051      /                   2-Family               180           90.00         38,250.00       367.16   
  DAWSON                             Primary                11/12/2012    90.00         38,236.65        11.100  
  312  CHESTNUT AVENUE               1                      No                          48,000.00                
  TRENTON, NJ 08609                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7065025      /                   SINGLE FAMILY DETACH   240           74.93         51,700.00       567.46   
  CLARDY                             Primary                06/03/2017    74.93         51,376.35        11.950  
  2538  CEDAR ST                     1                      No                          69,000.00                
  PHILADELPHI, PA 19125                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7065174      /                   SINGLE FAMILY DETACH   180           50.00         30,000.00       331.63   
  WASHINGTON SR.                     Primary                06/09/2012    50.00         29,964.46        12.990  
  2055  NW 152ND ST                  1                      No                          60,000.00                
  OPA LOCKA, FL 33054                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  NC7101013      /                   SINGLE FAMILY DETACH   180           13.16         24,350.00       322.48   
  GIRGIS                             Primary                09/15/2012    99.98         24,226.69        13.890  
  4904  KILLEBREW DRIVE              2                      No                         185,000.00                
  ANNANDALE, VA 22003                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  NC7101019      /                   SINGLE FAMILY DETACH   120           14.20         24,000.00       381.21   
  BARONE                             Primary                09/15/2007    97.03         23,728.49        14.590  
  38  WASHINGTON AVENUE              2                      No                         169,000.00                
  SPRINGFIELD, NJ 07081                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        11       Page Balance:      $353,333.35
<PAGE>   14

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  NC7101020      /                   SINGLE FAMILY DETACH   180           15.79         30,000.00       423.79   
  WOODSIDE                           Primary                09/17/2012    93.19         29,839.99        15.190  
  303  NORTH MAIN STREET             2                      No                         190,000.00                
  WOODSTOWN, NJ 08098                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  NC7101024      /                   SINGLE FAMILY DETACH   180           21.25         34,000.00       447.10   
  MARTIN                             Primary                09/17/2012    97.92         33,825.37        13.750  
  142  HILMAN DRIVE                  2                      No                         160,000.00                
  ELMWOOD PAR, NJ 07407                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101025      /                   SINGLE FAMILY DETACH   180           12.41         17,750.00       243.46   
  PENN                               Primary                09/17/2012    99.98         17,666.02        14.590  
  52  S FRENCH STREET                2                      No                         143,000.00                
  ALEXANDRIA, VA 22304                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7101034      /                   SINGLE FAMILY DETACH   180           20.25         33,000.00       439.25   
  MALEC                              Primary                09/16/2012   100.00         32,834.50        13.990  
  350  GRISWOLD ROAD                 2                      No                         163,000.00                
  WETHERSFIEL, CT 06109                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101047      /                   SINGLE FAMILY DETACH   180           24.32         45,000.00       629.51   
  HUEY                               Primary                09/24/2012    94.27         44,774.57        14.990  
  4212  SCHOONER COURT               2                      No                         185,000.00                
  ROSWELL, GA 30075                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101048      /                   SINGLE FAMILY DETACH   180           10.00         18,000.00       246.90   
  BOYE                               Primary                09/02/2012    95.00         17,914.82        14.590  
  91  HOMESTEAD DRIVE                2                      No                         180,000.00                
  OLD BRIDGE, NJ 07747                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7101050      /                   SINGLE FAMILY DETACH   180           20.00         31,400.00       417.96   
  MASSOUD                            Primary                09/17/2012   100.00         31,242.51        13.990  
  29  PEARL STREET                   2                      No                         157,000.00                
  BLOOMINGDAL, NJ 07403                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101068      /                   SINGLE FAMILY DETACH   360           90.29        158,000.00     1,444.11   
  WEBER                              Primary                10/17/2027    90.29        157,766.78        10.490  
  1992  PINE GROVE ROAD              1                      No                         175,000.00                
  RINGGOLD, GA 30736                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  NC7101074      /                   SINGLE FAMILY DETACH   180           28.87         41,000.00       579.18   
  KURLAND                            Primary                09/30/2012    99.03         40,816.32        15.190  
  5020  MARBLE EGRET DRIVE S         2                      No                         142,000.00                
  JACKSONVILL, FL 32257                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101077      /                   SINGLE FAMILY DETACH   180           17.37         26,400.00       362.11   
  JENNINGS                           Primary                10/16/2012    97.37         26,317.23        14.590  
  3062  PERCH DRIVE                  2                      No                         152,000.00                
  RIVA, MD 21140                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        12       Page Balance:      $432,998.11
<PAGE>   15

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  NC7101085      /                   SINGLE FAMILY DETACH   180           20.00         28,000.00       391.70   
  REILLY                             Primary                10/01/2012   100.00         27,872.62        14.990  
  70  OAK HILL DRIVE                 2                      No                         140,000.00                
  DOVER, NJ 08753                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  NC7101088      /                   SINGLE FAMILY DETACH   180           13.53         21,650.00       305.84   
  YESALAVICH                         Primary                10/15/2012    93.60         21,586.02        15.190  
  433  DECATUR AVENUE                2                      No                         160,000.00                
  MIDDLESEX, NJ 08846                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  NC7101089      /                   SINGLE FAMILY DETACH   180           27.25         35,150.00       499.20   
  REECE                              Primary                10/07/2012    99.97         35,047.27        15.300  
  143  MCKENZIE COURT                2                      No                         129,000.00                
  STOCKBRIDGE, GA 30281                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101098      /                   SINGLE FAMILY DETACH   180           26.47         45,000.00       626.43   
  HENDRICKSEN                        Primary                10/06/2012    96.71         44,863.04        14.890  
  42  WOODLAND WAY                   2                      No                         170,000.00                
  SOUTH BRUNS, NJ 08810                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101102      /                   SINGLE FAMILY DETACH   144           18.87         10,000.00       134.33   
  MYERS                              Primary                10/06/2009   100.00          9,939.19        12.490  
  24  LEHIGH COURT                   2                      No                          53,000.00                
  WINSLOW, NJ 08081                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101106      /                   SINGLE FAMILY DETACH   180           23.03         22,800.00       322.08   
  MINUTOLA                           Primary                09/30/2012    99.95         22,698.32        15.190  
  42  GEORGE STREET                  2                      No                          99,000.00                
  MOUNT EPHRA, NJ 08059                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101113      /                   SINGLE FAMILY DETACH   180           21.60         40,400.00       562.39   
  ZINGARO                            Primary                10/06/2012    97.97         40,264.28        14.890  
  16  CAROLINE DRIVE                 2                      No                         187,000.00                
  MILFORD, CT 06460                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101125      /                   Condo Less Than        180           12.99         10,000.00       137.17   
                                     5 Floors
  WILPON                             Primary                10/08/2012    97.10          9,968.63        14.590  
  105  VILLAGE COMMONS               2                      No                          77,000.00                
  RARITAN, NJ 08822                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101129      /                   SINGLE FAMILY DETACH   180           27.73         30,500.00       437.37   
  PLAZIO                             Primary                10/30/2012    99.60         30,412.62        15.500  
  99  DELAWARE DRIVE                 2                      No                         110,000.00                
  PENNSVILLE, NJ 08070                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7101133      /                   SINGLE FAMILY DETACH   180           26.77         45,500.00       613.61   
  GALUPPO                            Primary                10/30/2012    99.99         45,329.56        14.250  
  641  PALISADE ROAD                 2                      No                         170,000.00                
  UNION, NJ 07083                                                                                                
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        13       Page Balance:      $287,981.55
<PAGE>   16

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  NC7101135      /                   SINGLE FAMILY DETACH   180           16.36         31,900.00       444.07   
  SANCHEZ                            Primary                10/26/2012    99.83         31,802.92        14.890  
  66  ANDERSON AVENUE                2                      No                         195,000.00                
  BERGENFIELD, NJ 07621                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101136      /                   SINGLE FAMILY DETACH   180           12.49         25,600.00       356.37   
  TOMLINSON                          Primary                10/29/2012    99.96         25,522.08        14.890  
  5058  WHETSTONE ROAD               2                      No                         205,000.00                
  COLUMBIA, MD 21044                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  NC7101146      /                   SINGLE FAMILY DETACH   180           18.23         33,000.00       452.64   
  GNECCO                             Primary                10/29/2012   100.00         32,896.54        14.590  
  92  EDWIN STREET                   2                      No                         181,000.00                
  RIDGEFIELD, NJ 07660                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7101147      /                   SINGLE FAMILY DETACH   180           11.43         20,000.00       266.22   
  CICERO                             Primary                10/26/2012    94.86         19,933.51        13.990  
  189  ROYAL OAK DRIVE               2                      No                         175,000.00                
  OCEAN, NJ 08758                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  NC7101151      /                   SINGLE FAMILY DETACH   180           20.00         19,400.00       266.10   
  DICKSON                            Primary                10/28/2012   100.00         19,339.17        14.590  
  190  CROSSLAND AVENUE              2                      No                          97,000.00                
  SALEM, NJ 08079                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  NC7101153      /                   SINGLE FAMILY DETACH   180           25.00         25,750.00       358.46   
  GREGORY                            Primary                10/21/2012   100.00         25,671.62        14.890  
  172  BRIGHTON AVENUE               2                      No                         103,000.00                
  EAST ORANGE, NJ 07017                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7101162      /                   SINGLE FAMILY DETACH   180           17.31         27,000.00       359.39   
  FERRANTO                           Primary                10/29/2012    93.33         26,910.24        13.990  
  26  WARREN WAY                     2                      No                         156,000.00                
  BURLINGTON, NJ 08016                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7101163      /                   SINGLE FAMILY DETACH   120           28.15         38,000.00       603.57   
  UNDEGROVE                          Primary                10/20/2007    99.70         37,571.14        14.590  
  118  VALLEY FARM DR.               2                      No                         135,000.00                
  ACWORTH, GA 30102                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101164      /                   SINGLE FAMILY DETACH   180           18.69         20,000.00       266.22   
  MEDFORD                            Primary                10/29/2012    96.35         19,933.51        13.990  
  652  BRANDLWOOD WAY NW             2                      No                         107,000.00                
  LILBURN, GA 30247                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  NC7101167      /                   SINGLE FAMILY DETACH   180           26.92         35,000.00       480.07   
  PERSHAY                            Primary                10/17/2012    99.57         34,890.28        14.590  
  47  ACADEMY AVENUE                 2                      No                         130,000.00                
  PLAINFIELD, NJ 07062                                                                                           
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        14       Page Balance:      $274,471.01
<PAGE>   17

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- ------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>
  NC7101173      /                   SINGLE FAMILY DETACH   180           20.00         22,000.00       292.84          
  BISHOP                             Primary                11/01/2012    95.88         21,919.62        13.990         
  112  GLENN AVENUE                  2                      No                         110,000.00                       
  LAKEWOOD, NJ 08701                                                                                                    
- ------------------------------------------------------------------------------------------------------------------------
  NC7102010      /                   SINGLE FAMILY DETACH   180           32.10         38,525.00       490.74          
  PEARN                              Primary                09/24/2012   100.00         38,315.08        13.130         
  1931  12TH STREET                  2                      No                         120,000.00                       
  BETHLEHEM, PA 18017                                                                                                   
- ------------------------------------------------------------------------------------------------------------------------
  NC7103101      /                   SINGLE FAMILY DETACH   180           18.39         28,500.00       389.17          
  BENJAMIN                           Primary                10/03/2012    98.39         28,409.86        14.500         
  1004  MORRIS STREET                2                      No                         155,000.00                       
  ROSELLE, NJ 07203                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  NC7103102      /                   SINGLE FAMILY DETACH   180           20.95         31,000.00       423.31          
  EVANS                              Primary                10/08/2012    99.83         30,901.95        14.500         
  25  WEST DELAWARE AVENUE           2                      No                         148,000.00                       
  BORDENTOWN, NJ 08505                                                                                                  
- ------------------------------------------------------------------------------------------------------------------------
  NC7103109      /                   SINGLE FAMILY DETACH   180           36.63         34,800.00       475.19          
  SELFRIDGE JR                       Primary                10/22/2012    99.94         34,689.96        14.500         
  110  PENNSGROVE-PEDRICKTO          2                      No                          95,000.00                       
  OLDMANS TOW, NJ 08067                                                                                                 
- ------------------------------------------------------------------------------------------------------------------------
  NC7103114      /                   SINGLE FAMILY DETACH   180           20.69         30,000.00       409.65          
  HENRY                              Primary                10/29/2012    96.84         29,905.13        14.500         
  223  GORDON STREET                 2                      No                         145,000.00                       
  BOROUGH OF, NJ 07203                                                                                                  
- ------------------------------------------------------------------------------------------------------------------------
  NC7105128      /                   SINGLE FAMILY DETACH   180           27.08         32,500.00       430.42          
  GREGORY                            Primary                10/01/2012    96.99         32,335.41        13.890         
  108  COLEY FARM ROAD               2                      No                         120,000.00                       
  FUQUAY-VARI, NC 27526                                                                                                 
- ------------------------------------------------------------------------------------------------------------------------
  NC7105150      /                   SINGLE FAMILY DETACH   180           18.57         26,000.00       324.70          
  JOHNSON                            Primary                10/06/2012    98.50         25,902.59        12.750         
  25  QUAIL RUN                      2                      No                         140,000.00                       
  MASSAPEQUA, NY 11758                                                                                                  
- ------------------------------------------------------------------------------------------------------------------------
  NC7105211      /                   SINGLE FAMILY DETACH   180           23.08         30,000.00       369.56          
  DICKIE                             Primary                10/06/2012   100.00         29,884.78        12.490         
  13  MARSHALL STREET                2                      No                         130,000.00                       
  OXFORD, MA 01540                                                                                                      
- ------------------------------------------------------------------------------------------------------------------------
  NC7105251      /                   SINGLE FAMILY DETACH   120           57.20         71,500.00       944.48          
  DEL MONACO                         Investor               10/16/2007    57.20         70,798.61         9.990         
  22  MIDLAND AVENUE                 1                      No                         125,000.00                       
  HICKSVILLE, NY 11801                                                                                                  
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        15       Page Balance:      $343,062.99
<PAGE>   18

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                                                                                                      
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  NC7105284      /                   SINGLE FAMILY DETACH   360           80.00         85,600.00       735.44   
  DESJARDINS                         Investor               10/03/2027    80.00         85,519.80         9.750  
  795  OLD SANDWICH RD               1                      No                         107,000.00                
  BOURNE, MA 02561                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  NC7105345      /                   SINGLE FAMILY DETACH   180           23.31         30,300.00       383.17   
  DALLEY                             Primary                10/28/2012    99.94         30,189.06        12.990  
  248  OLM STREET                    2                      No                         130,000.00                
  BRENTWOOD,, NY 11717                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  NC7105356      /                   SINGLE FAMILY DETACH   180           19.61         30,000.00       340.79   
  SMITH                              Primary                10/06/2012    99.43         29,867.32        10.990  
  17101  EVERETT AVE.                2                      No                         153,000.00                
  SOUTH HOLLA, IL 60473                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7105361      /                   SINGLE FAMILY DETACH   180           25.00         35,000.00       442.60   
  PLUMMER                            Primary                10/15/2012    99.89         34,871.87        12.990  
  935  STERLING PLACE                2                      No                         140,000.00                
  WEST BABYLO, NY 11704                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7107004      /                   SINGLE FAMILY DETACH   180           26.36         14,500.00       179.66   
  MC PHAIL                           Primary                11/04/2012    99.64         14,471.91        12.600  
  1119  BRIDGE STREET                2                      No                          55,000.00                
  PHILADELPHI, PA 19124                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  NC7111018      /                   Town House             180           26.51         44,000.00       585.67   
  LUCIANO                            Primary                11/20/2012    94.01         43,912.97        13.990  
  10  CHILDS ROAD                    2                      No                         166,000.00                
  BERARDSVILL, NJ 07924                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TB7100196      /                   Condo Less Than        180           23.73         14,000.00       192.03   
                                     5 Floors
  DAVID                              Primary                11/23/2012    93.22         13,978.19        14.590  
  2420SW81ST AVE                     2                      No                          59,000.00                
  DAVIE, FL 33324                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TB7100203      /                   SINGLE FAMILY DETACH   180           23.47         23,000.00       310.02   
  SAN PEDRO                          Primary                11/09/2012    99.49         22,962.91        14.240  
  4741  NORTHWEST 195TH TERR         2                      No                          98,000.00                
  MIAMI, FL 33055                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC6082986      /                   SINGLE FAMILY DETACH   360           70.00         39,900.00       477.51   
  FRANCIS                            Primary                04/01/2026    70.00         39,733.70        14.150  
  1331  AVE H                        1                      No                          57,000.00                
  RIVIERA BEA, FL 33404                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC6090755      /                   SINGLE FAMILY DETACH   180           10.50         14,750.00       196.33   
  PIERCE                             Primary                09/13/2011    90.00         14,353.08        13.990  
  830  FAIRVIEW DR                   2                      No                         140,500.00                
  HENDERSON, NV 89015                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        16       Page Balance:      $329,860.81
<PAGE>   19

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>            <C>           
  TC6110511A     /                   SINGLE FAMILY DETACH   120           17.46          5,500.00        75.92   
  BAIN                               Primary                06/27/2007    49.18          5,397.50        11.050  
  300  EAST 3RD                      2                      No                          31,500.00                
  URICH, MO 64788                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC6110855      /                   SINGLE FAMILY DETACH   120            8.33          3,000.00        50.24   
  ALEXANDER                          Primary                11/01/2006    86.11          2,841.04        15.990  
  10  SYCAMORE ST                    2                      No                          36,000.00                
  LEXINGTON, NC 27292                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC6110945      /                   SINGLE FAMILY DETACH   180           10.00          3,600.00        52.85   
  LEMASTER                           Primary                10/11/2011    90.00          3,511.53        15.990  
  700  DILLINGHAM                    2                      No                          38,000.00                
  OAKLAND, OK 73452                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC6110994      /                   SINGLE FAMILY ATTACH   120           11.85         10,550.00       176.66   
  ROSS                               Primary                11/05/2006    91.85         10,041.56        15.990  
  ROUTE 2 BOX 327                    2                      No                          89,000.00                
  VINTON, VA 24179                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC6120962      /                   SINGLE FAMILY DETACH   180           70.00         56,000.00       696.46   
  HARDIMAN                           Primary                11/26/2011    70.00         55,909.17        14.740  
  8543  SOUTH LOWE AVE               1                      No                          80,000.00                
  CHICAGO, IL 60620                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7030381      /                   Condo (5 - 8 Floors)   180           75.00         37,500.00       385.45   
  SMITH                              Primary                02/26/2012    75.00         37,410.90        11.990  
  2120  EAST TREMONT RD              1                      No                          50,000.00                
  BRONX, NY 10462                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7040648      /                   SINGLE FAMILY DETACH    84           10.91          3,000.00        63.05   
  CLAYTON                            Primary                09/05/2003    80.91          2,680.70        18.000  
  710  S MARTIN LUTHER KING          2                      No                          27,500.00                
  WAGONER, OK 74467                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7050063      /                   SINGLE FAMILY DETACH   180           10.00          7,600.00       108.46   
  NELSON                             Primary                04/15/2012    90.00          7,502.63        15.400  
  820  NE 51ST ST                    2                      No                          76,000.00                
  POMPANO BEA, FL 33064                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7052365      /                   SINGLE FAMILY DETACH   180           62.37         46,150.00       565.13   
  MARABLE                            Primary                05/09/2012    62.37         46,103.72        14.500  
  268  LIMAC CIR                     1                      No                          74,000.00                
  CONWAY, NH 03818                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7053215      /                   SINGLE FAMILY DETACH   180           70.00         34,300.00       462.33   
  HUBBLE                             Primary                05/29/2012    70.00         33,898.82        14.240  
  9263  HWY 319 WEST                 1                      No                          49,000.00                
  AUSTIN, AR 72007                                                                                               
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        17       Page Balance:      $205,297.57
<PAGE>   20

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- ------------------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>
  TC7054019      /                   SINGLE FAMILY DETACH   180           65.00         24,375.00       362.08          
  STEVENSON                          Primary                05/01/2012    65.00         24,174.16        16.240         
  324  E TRIGG AVE                   1                      No                          37,500.00                       
  MEMPHIS, TN 38106                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  TC7054205      /                   SINGLE FAMILY DETACH   360           62.86         55,000.00       573.79          
  LUGO                               Primary                04/20/2027    62.86         54,906.95        12.190         
  153  GLENWOOD DR                   1                      No                          87,500.00                       
  KISSIMMEE, FL 34743                                                                                                   
- ------------------------------------------------------------------------------------------------------------------------
  TC7054223      /                   SINGLE FAMILY DETACH   180           51.95        200,000.00     2,368.16          
  BORLAND                            Investor               05/21/2012    51.95        199,813.23        13.990         
  2622  REGNER ROAD                  1                      No                         345,000.00                       
  MCHENRY, IL 60050                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  TC7060134      /                   SINGLE FAMILY DETACH   360           67.74         21,000.00       233.13          
  POINDEXTER                         Primary                05/01/2027    67.74         20,970.68        13.050         
  607  NORTH DIVISION                1                      No                          31,000.00                       
  COWETA, OK 74429                                                                                                      
- ------------------------------------------------------------------------------------------------------------------------
  TC7081878      /                   SINGLE FAMILY DETACH   180          100.00         19,500.00       266.15          
  NEWMAN                             Investor               06/23/2012   100.00         19,310.22        14.490         
  14740  HWY 70 W                    1                      No                          30,000.00                       
  STANTON, TN 38069                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  TC7085951      /                   SINGLE FAMILY DETACH   180           29.06         34,000.00       466.58          
  REEVES                             Primary                11/03/2012    98.27         33,947.09        14.600         
  855  WEST BON ACRE ROAD            2                      No                         117,000.00                       
  CATAULA, GA 31804                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  TC7090126      /                   SINGLE FAMILY DETACH   180          100.00         67,540.00       707.75          
  BROADWAY                           Primary                08/01/2012   100.00         67,446.72        12.250         
  10028  HIXSON PIKE                 1                      No                          83,000.00                       
  SODDY DAISY, TN 37379                                                                                                 
- ------------------------------------------------------------------------------------------------------------------------
  TC7090177      /                   SINGLE FAMILY DETACH   180           80.00         29,200.00       334.23          
  CHILDRESS                          Primary                08/01/2012    80.00         29,169.45        13.490         
  214  WILSHIRE AVE                  1                      No                          36,500.00                       
  JACKSON, MS 39213                                                                                                     
- ------------------------------------------------------------------------------------------------------------------------
  TC7090387      /                   SINGLE FAMILY DETACH   360          100.00        138,400.00     1,189.06          
  DAVIS                              Primary                07/08/2027   100.00        138,138.60         9.750         
  3129  BELTSVILLE ROAD              1                      No                         173,000.00                       
  BELTSVILLE, MD 20705                                                                                                  
- ------------------------------------------------------------------------------------------------------------------------
  TC7092371      /                   SINGLE FAMILY DETACH   180           15.00         19,500.00       259.56          
  CHAVIS                             Primary                08/01/2012    93.84         19,333.74        13.990         
  356  ISLAND GROVE RD               2                      No                         130,000.00                       
  MAXTON, NC 28364                                                                                                      
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        18       Page Balance:      $607,210.84
<PAGE>   21

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7094076      /                   SINGLE FAMILY DETACH   180           38.10         40,000.00       454.39   
  BOND                               Primary                07/08/2012    92.51         39,551.57        10.990  
  9501  TONI DRIVE                   2                      No                         105,000.00                
  MIAMI, FL 33157                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7094452      /                   SINGLE FAMILY DETACH   360           95.00        117,800.00     1,356.69   
  JORMAN                             Primary                06/01/2027    95.00        117,361.90        12.750  
  1406  PINERIDGE DRIVE              1                      No                         124,000.00                
  JOLIET, IL 60433                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7095361      /                   SINGLE FAMILY DETACH   180           80.00         51,998.00       431.17   
  LOFTON                             Primary                11/03/2012    80.00         51,971.86         9.340  
  1711  CAMBRIDGE DRIVE              1                      No                          65,000.00                
  CHATTANOOGA, TN 37411                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7095362      /                   SINGLE FAMILY DETACH   180           19.98         12,989.00       175.17   
  LOFTON                             Primary                11/03/2012    93.83         12,968.42        14.250  
  1711  CAMBRIDGE DRIVE              2                      No                          65,000.00                
  CHATTANOOGA, TN 37411                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7095988      /                   SINGLE FAMILY DETACH   180           24.16         25,368.00       354.18   
  RESHARD                            Primary                11/13/2012    92.70         25,329.86        14.950  
  RT 3 BOX 683                       2                      No                         105,000.00                
  TALLAHASSEE, FL 32308                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7096101      /                   SINGLE FAMILY DETACH   120           18.07         15,000.00       237.44   
  ADCOCK, JR.                        Primary                07/16/2007    97.27         14,712.17        14.500  
  6510  CHIPPENDALE ROAD             2                      No                          83,000.00                
  LAKELAND, FL 33809                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7096124      /                   SINGLE FAMILY DETACH   180           18.95         16,010.00       218.62   
  BLACK                              Primary                04/11/2012   100.00         15,799.95        14.500  
  3838  ORIELY DR.                   2                      No                          84,500.00                
  JACKSONVILL, FL 32210                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7096130      /                   SINGLE FAMILY DETACH   180           15.00         22,500.00       275.53   
  BURGER                             Primary                08/18/2012   100.00         22,485.11        14.500  
  5703  ADMIRAL DOYLE ROAD           2                      No                         150,000.00                
  PENSACOLA, FL 32506                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7096175      /                   SINGLE FAMILY DETACH   180           75.00         61,425.00       582.65   
  FULTZ                              Primary                06/27/2012    75.00         61,289.04        10.950  
  217  GRANDVIEW STREET              1                      No                          82,000.00                
  MT. CARMEL, TN 37645                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7096186      /                   SINGLE FAMILY DETACH   180           31.16         21,500.00       293.59   
  HALL                               Primary                07/16/2012    94.77         21,326.87        14.500  
  1512  8TH AVENUE                   2                      No                          69,000.00                
  LEHIGH ACRE, FL 33972                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        19       Page Balance:      $382,796.75
<PAGE>   22

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>        <C>            <C>           
  TC7096198      /                   SINGLE FAMILY DETACH   180           10.58         11,000.00       150.21   
  HERNANDEZ                          Primary                08/12/2012   100.00         10,939.40        14.500  
  12779  WOODBURY OAKS DRIVE         2                      No                         104,000.00                
  ORLANDO, FL 32828                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7096208      /                   SINGLE FAMILY DETACH   180           18.52         15,000.00       204.83   
  JOHNSON                            Primary                02/02/2012    99.96         14,740.01        14.500  
  7313  CABOR COURT                  2                      No                          81,000.00                
  ORLANDO, FL 32818                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7096219      /                   SINGLE FAMILY DETACH   180           20.00         17,980.00       245.52   
  KYZER                              Primary                07/14/2012   100.00         17,835.24        14.500  
  104  CHATEAU DRIVE                 2                      No                          89,900.00                
  LEXINTON, SC 29073                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7096282      /                   SINGLE FAMILY DETACH   120           16.12         20,955.00       331.69   
  SHILLING                           Primary                07/14/2007   100.00         20,533.46        14.500  
  11412  PARKSIDE PLACE              2                      No                         130,000.00                
  BRADENTON, FL 34202                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100062      /                   SINGLE FAMILY DETACH   180           22.20         26,200.00       348.74   
  FISCHER                            Primary                10/01/2012    96.55         26,068.61        13.990  
  1828  WELLS DRIVE                  2                      No                         118,000.00                
  BAY SHORE, NY 11706                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100141      /                   SINGLE FAMILY DETACH   360           70.00         63,000.00       771.47   
  WARREN , SR                        Primary                08/01/2027    70.00         62,947.66        14.500  
  307  S. MELVILLE STREET            1                      No                          90,000.00                
  GRAHAM, NC 27253                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100148      /                   SINGLE FAMILY DETACH   180           15.45         14,680.00       171.49   
  AHMADI                             Primary                07/28/2012    92.72         14,617.82        11.500  
  4229  LAURENWOOD DRIVE             2                      No                          95,000.00                
  NASHVILLE, TN 37013                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100160      /                   SINGLE FAMILY DETACH   180           21.98         17,587.00       240.03   
  BROWN                              Primary                10/01/2012    99.94         17,502.99        14.490  
  230  OLD ALABAMA RD                2                      No                          80,000.00                
  RINGGOLD, GA 30736                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7100164      /                   SINGLE FAMILY DETACH   180           18.31         11,898.00       166.44   
  CAGLE                              Primary                09/02/2012    99.93         11,862.53        14.990  
  1610  LAMAR STREET                 2                      No                          65,000.00                
  ATHENS, TN 37303                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100388      /                   SINGLE FAMILY DETACH   240           17.53         25,600.00       299.74   
  ISABLE                             Primary                09/19/2017    97.53         25,531.41        12.990  
  139  12 233RD STREET               2                      No                         146,000.00                
  LAURELTON, NY 11422                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        20       Page Balance:      $222,579.13
<PAGE>   23


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7100390      /                   SINGLE FAMILY DETACH   180           31.17         38,025.00       505.12   
  JONES                              Primary                09/23/2012    99.84         37,833.56        13.950  
  3030  W COUNTRY CLUB TERRA         2                      No                         122,000.00                
  PHOENIX, AZ 85027                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7100399      /                   SINGLE FAMILY DETACH   180           20.00         19,700.00       262.22   
  KUROWSKI                           Primary                09/19/2012   100.00         19,601.21        13.990  
  52  18TH ST                        2                      No                          98,500.00                
  LOWELL, MA 01850                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100407      /                   SINGLE FAMILY DETACH   180           20.00         16,000.00       209.33   
  MADONNA                            Primary                09/23/2012   100.00         15,917.07        13.650  
  2025  EAST PROVIDENCE              2                      No                          80,000.00                
  SPOKANE, WA 99207                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7100424      /                   SINGLE FAMILY DETACH   240           20.00         37,000.00       446.73   
  PENZIAS                            Primary                09/22/2017   100.00         36,907.53        13.500  
  1  PARKER BOULEVARD                2                      No                         185,000.00                
  MONSEY, NY 10952                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100442      /                   SINGLE FAMILY DETACH   240           29.94         53,000.00       658.68   
  SPENCE                             Primary                09/23/2017    98.87         52,876.21        13.990  
  102  PINEOAK LANE                  2                      No                         177,000.00                
  BAYSHORE, NY 11706                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7100449      /                   SINGLE FAMILY DETACH   120           15.15         22,500.00       342.62   
  TATRO                              Primary                09/19/2007    99.24         22,228.49        13.500  
  885  VERNON ST                     2                      No                         148,500.00                
  BRIDGEWATER, MA 02324                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100463      /                   SINGLE FAMILY ATTACH   180           20.25         16,400.00       218.30   
  WIRTZ                              Primary                09/23/2012    99.71         16,317.74        13.990  
  59  BURNA ROAD                     2                      No                          81,000.00                
  FITCHBURG, MA 01420                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100580      /                   SINGLE FAMILY DETACH   180           34.95         72,000.00       898.70   
  CARBONELL                          Primary                09/22/2012   100.00         71,592.80        12.740  
  1301  SW 18 COURT                  2                      No                         206,000.00                
  FT LAUDERDA, FL 33315                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100600      /                   SINGLE FAMILY DETACH   180           26.74         23,000.00       290.86   
  CRUZ                               Primary                09/19/2012    99.45         22,852.98        12.990  
  202  EVERGREEN CIRCLE              2                      No                          86,000.00                
  HENDERSONVI, TN 37075                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100605      /                   SINGLE FAMILY DETACH   180           12.97         24,000.00       303.51   
  DEEDS                              Primary                09/09/2012    98.71         23,867.45        12.990  
  3318  SHERBORNE DRIVE              2                      No                         185,000.00                
  FORT MILL, SC 29715                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        21       Page Balance:      $319,995.04
<PAGE>   24


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7100606      /                   SINGLE FAMILY DETACH   180           39.19         33,700.00       426.17   
  DEES                               Primary                09/16/2012    99.96         33,513.90        12.990  
  5131  MARTINIQUE DRIVE             2                      No                          86,000.00                
  LAKELAND, FL 33813                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7100629      /                   SINGLE FAMILY DETACH   180           19.32         28,500.00       398.69   
  FURLONG                            Primary                09/17/2012    99.62         28,299.49        14.990  
  4258  GRASSY COURT                 2                      No                         147,500.00                
  COLORADO SP, CO 80916                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100652      /                   SINGLE FAMILY DETACH   180           20.00         26,000.00       328.80   
  HILL                               Primary                09/16/2012   100.00         25,856.41        12.990  
  4703  PLEASANT RIDGE ROAD          2                      No                         130,000.00                
  MILLINGTON, TN 38053                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7100656      /                   SINGLE FAMILY DETACH   180           20.00         32,000.00       404.67   
  HOVEY                              Primary                09/24/2012   100.00         31,817.90        12.990  
  6602  WEST ELDORAD PLACE           2                      No                         160,000.00                
  DENVER, CO 80227                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100661      /                   SINGLE FAMILY DETACH   180           31.50         63,000.00       796.69   
  HEUMANN                            Primary                09/23/2012    95.20         62,652.12        12.990  
  7724  FORESTAY DRIVE               2                      No                         200,000.00                
  LAKE WORTH, FL 33467                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7100697      /                   SINGLE FAMILY DETACH   180           20.00         16,200.00       204.87   
  MCCLOUD                            Primary                09/16/2012   100.00         16,015.40        12.990  
  126  BRANDLEWOOD  DRIVE            2                      No                          81,000.00                
  SAVANNAH, GA 31405                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7100712      /                   Condo Less Than        180           22.89         19,000.00       246.56   
                                     5 Floors
  NAVARRO                            Primary                09/24/2012    98.46         18,908.89        13.490  
  10303  NW 9 ST CIRCLE #103         2                      No                          83,000.00                
  MIAMI, FL 33172                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7100741      /                   SINGLE FAMILY DETACH   180           20.41         10,000.00       126.46   
  ROBINSON                           Primary                09/17/2012   100.00          9,963.38        12.990  
  6048  S. WASHTENAW                 2                      No                          82,000.00                
  CHICAGO, IL 60629                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7100743      /                   SINGLE FAMILY DETACH   180           25.00         32,250.00       418.50   
  RODRIGUEZ                          Primary                09/12/2012    99.98         32,137.45        13.490  
  1844  S. 61ST COURT                2                      No                         129,000.00                
  CICERO, IL 60650                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100744      /                   SINGLE FAMILY DETACH   180           20.16         18,750.00       237.11   
  RODRIGUEZ                          Primary                09/12/2012   100.00         18,681.35        12.990  
  1666  W 74 STREET                  2                      No                          93,000.00                
  HIALEAH, FL 33014                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        22       Page Balance:      $277,846.29
<PAGE>   25


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7100756      /                   SINGLE FAMILY DETACH   180           26.25         19,950.00       252.29   
  SHERMAN                            Primary                09/17/2012    99.94         19,733.81        12.990  
  8006  SHARON DRIVE                 2                      No                          76,000.00                
  TAMPA, FL 33617                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7100758      /                   SINGLE FAMILY DETACH   180           18.15         30,850.00       370.26   
  SIARKIEWICZ                        Primary                09/19/2012    91.06         30,653.07        12.000  
  1861  NORTHSHORE AVENUE            2                      No                         170,000.00                
  DES PLAINES, IL 60018                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100787      /                   SINGLE FAMILY DETACH   180           11.70         20,000.00       252.92   
  WILKINS                            Primary                09/22/2012    93.16         19,889.56        12.990  
  978  NORTH 500 EAST                2                      No                         171,000.00                
  SPRINGVILLE, UT 84663                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100801      /                   SINGLE FAMILY DETACH   108           24.14         28,000.00       440.94   
  BARTON                             Primary                09/29/2006    99.78         27,581.99        12.990  
  23  TOPLIFF STREET                 2                      No                         116,000.00                
  BILLERICA, MA 01821                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100803      /                   SINGLE FAMILY DETACH   180           16.75         34,835.00       454.59   
  BRANDON                            Primary                09/26/2012    99.85         34,653.58        13.600  
  4425  WOODCREST ROAD               2                      No                         208,000.00                
  LAS VEGAS, NV 89121                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7100807      /                   SINGLE FAMILY DETACH   120           10.46         23,000.00       329.85   
  CAMPBELL                           Primary                09/30/2007    90.00         22,696.87        11.990  
  10  WEDGEWOOD DRIVE                2                      No                         220,000.00                
  WESTBURY, NY 11590                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7100816      /                   SINGLE FAMILY DETACH   180           29.41         50,000.00       654.15   
  DACHEL                             Primary                09/24/2012    97.65         49,740.88        13.650  
  5808  WILLOWCREEK ROAD             2                      No                         170,000.00                
  NORTH LAS V, NV 89031                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7100840      /                   SINGLE FAMILY DETACH   180           24.59         45,000.00       598.98   
  LARIVIERE                          Primary                09/30/2012    98.36         44,774.32        13.990  
  4  JEL WAY                         2                      No                         183,000.00                
  BRISTOL, RI 02809                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7100849      /                   SINGLE FAMILY DETACH   120           18.10         15,750.00       244.45   
  MOZINGO                            Primary                09/30/2007    92.97         15,565.37        13.990  
  611  ROBINSON DR                   2                      No                          87,000.00                
  ROANOKE, NC 27870                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7100888      /                   SINGLE FAMILY DETACH   180           85.00         65,450.00       660.66   
  DAY                                Primary                10/01/2012    85.00         65,390.02        11.750  
  228  STOREY STREET                 1                      No                          77,000.00                
  JEFFERSON, GA 30549                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        23       Page Balance:      $330,679.47
<PAGE>   26


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7100895      /                   SINGLE FAMILY DETACH   180          100.00         48,000.00       473.51   
  JOHNSON                            Primary                09/01/2012   100.00         47,937.06        11.450  
  802  NW 10TH TERRACE               1                      No                          60,000.00                
  STUART, FL 34994                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7100959      /                   SINGLE FAMILY DETACH   180           16.67         10,000.00       134.86   
  WARD                               Primary                10/01/2012   100.00          9,951.09        14.250  
  6537  JACKSON ST.                  2                      No                          60,000.00                
  BONNERS FER, ID 83805                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101008      /                   SINGLE FAMILY DETACH   180           27.98         47,560.00       620.65   
  JOHNSON                            Primary                10/01/2012    95.52         47,312.30        13.600  
  14045  AQUEDUCT ROAD               2                      No                         170,000.00                
  PINE GROVE, CA 95665                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7101051      /                   SINGLE FAMILY DETACH   180           20.00         27,400.00       357.56   
  BUCKINGHAM                         Primary                10/06/2012   100.00         27,262.49        13.600  
  4441  NORTHWEST WAY                2                      No                         137,000.00                
  REDMOND, OR 97756                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101055      /                   SINGLE FAMILY DETACH   180           48.39         75,000.00       996.29   
  CUTAIAR II                         Primary                10/03/2012    99.62         74,749.73        13.950  
  580  CHILI AVENUE EXTENSI          2                      No                         155,000.00                
  CHURCHVILLE, NY 14428                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101065      /                   2-Family               180           30.00         60,000.00       758.75   
  GREEN                              Primary                09/29/2012    98.43         59,780.32        12.990  
  108  39 154TH STREET               2                      No                         200,000.00                
  QUEENS, NY 11433                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101281      /                   SINGLE FAMILY DETACH   180           21.43         30,000.00       399.33   
  DAUGHENBAUGH                       Primary                08/22/2012    93.43         29,804.85        13.990  
  121  MARTIN DRIVE                  2                      No                         140,000.00                
  CORVALLIS, MT 59828                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7101306      /                   SINGLE FAMILY DETACH   180           10.32         16,000.00       212.97   
  CHANCE                             Primary                10/08/2012    98.50         15,946.82        13.990  
  6849  WOODRIDGE DRIVE              2                      No                         155,000.00                
  NORFOLK, VA 23518                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101308      /                   SINGLE FAMILY DETACH   120           12.87         18,400.00       274.62   
  COOK                               Primary                09/09/2007    99.99         18,247.54        12.990  
  22  STERN COURT                    2                      No                         143,000.00                
  STATEN ISLA, NY 10308                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101318      /                   SINGLE FAMILY DETACH    84           17.37         33,000.00       600.16   
  GIDWILL                            Primary                10/08/2004    94.07         32,511.51        12.990  
  149  39 18TH AVENUE                2                      No                         190,000.00                
  WHITESTONE, NY 11357                                                                                           
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        24       Page Balance:      $363,503.71
<PAGE>   27

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7101327      /                   SINGLE FAMILY DETACH   180           26.61         33,000.00       439.25   
  LILLY                              Primary                10/07/2012    99.91         32,890.31        13.990  
  510  LOGAN STREET                  2                      No                         124,000.00                
  FREDERICK, MD 21701                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7101328      /                   SINGLE FAMILY DETACH   180           35.97         50,000.00       696.37   
  LINDQUIST                          Primary                09/15/2012    97.40         49,770.57        14.900  
  18565  SOUTH WEST PIKE STRE        2                      No                         139,000.00                
  ALOHA, OR 97007                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7101333      /                   SINGLE FAMILY DETACH   240           23.28         44,000.00       515.18   
  ORLANDO                            Primary                10/08/2017    97.43         43,918.79        12.990  
  6  CRESENT AVENUE                  2                      No                         189,000.00                
  SAUGUS, MA 01906                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101344      /                   SINGLE FAMILY DETACH   180           20.00         21,400.00       270.62   
  STURM/MIGLINO                      Primary                10/08/2012   100.00         21,061.49        12.990  
  79  ACADEMY ROAD                   2                      No                         107,000.00                
  ALBANY, NY 12208                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101376      /                   SINGLE FAMILY DETACH   180           20.41         29,995.00       389.43   
  HALL                               Primary                10/06/2012    98.64         29,590.42        13.500  
  3521  RIBCOWSKI CT                 2                      No                         147,000.00                
  RALEIGH, NC 27616                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101391      /                   SINGLE FAMILY DETACH   180           30.70         41,445.00       538.09   
  ORTIZ                              Primary                10/03/2012   100.00         41,300.78        13.500  
  1502  AINSWORTH STREET             2                      No                         135,000.00                
  GARNER, NC 27529                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101415      /                   SINGLE FAMILY DETACH   180          100.00        119,754.00     1,357.56   
  WOLF                               Primary                08/04/2012   100.00        119,651.53        13.350  
  2299  EDENDERRY ROAD               1                      No                         151,500.00                
  CRESCENT SP, KY 41017                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101488      /                   SINGLE FAMILY DETACH   180           20.00         31,600.00       433.43   
  CULLIN                             Primary                09/20/2012   100.00         31,450.51        14.590  
  4242  PANOLA ROAD                  2                      No                         158,000.00                
  LITHONIA, GA 30038                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101495      /                   SINGLE FAMILY DETACH   180           15.00         20,100.00       267.54   
  FERRIL                             Primary                08/25/2012    95.00         19,682.88        13.990  
  1062  MCKINNON AVENUE              2                      No                         134,000.00                
  OVIEDO, FL 32785                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101510      /                   SINGLE FAMILY DETACH   180          100.00         12,000.00       155.72   
  HOWARD                             Primary                09/20/2012    95.01         11,948.27        13.490  
  3840  WOOD PATH DRIVE              2                      No                          80,000.00                
  STONE MOUNT, GA 30083                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        25       Page Balance:      $401,265.55
<PAGE>   28


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7101513      /                   SINGLE FAMILY DETACH   180           26.44         27,500.00       370.86   
  JACKSON                            Primary                10/05/2012    99.74         27,410.88        14.250  
  2609  ANTIOCH ROAD                 2                      No                         104,000.00                
  SANTEE, SC 29142                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101519      /                   SINGLE FAMILY DETACH   120           15.00          9,300.00       146.64   
  KORNEGAY                           Primary                08/01/2007    95.00          9,156.93        14.400  
  614  EAST MAIN STREET              2                      No                          62,000.00                
  MOUNT OLIVE, NC 28365                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101524      /                   SINGLE FAMILY DETACH   180           15.00         22,800.00       303.49   
  LEWIS                              Primary                09/20/2012   100.00         22,724.20        13.990  
  2230  DELIGHT COURT                2                      No                         152,000.00                
  WALDORF, MD 20602                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101549      /                   SINGLE FAMILY DETACH   240           36.05         54,789.00       711.36   
  RAINEY                             Primary                09/25/2017    95.00         54,712.71        14.750  
  1194  ROBERT LANE                  2                      No                         152,000.00                
  MARIETTA, GA 30062                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101632      /                   SINGLE FAMILY DETACH   180           17.67         37,100.00       484.15   
  MYERS                              Primary                10/13/2012    99.98         36,971.91        13.600  
  3135  WEST SOUTH DRIVE             2                      No                         210,000.00                
  SHERIDAN, IN 46069                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101645      /                   3-Family               180           20.00         32,000.00       425.94   
  ROYALL                             Primary                09/02/2012   100.00         31,893.64        13.990  
  22  MARCONI PLACE                  2                      No                         160,000.00                
  BROOKLYN, NY 11233                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101648      /                   SINGLE FAMILY DETACH   180           20.64         26,000.00       339.29   
  SHEVEY                             Primary                10/07/2012   100.00         25,910.25        13.600  
  445  CHURCH STREET                 2                      No                         126,000.00                
  JACKSON, CA 95642                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101652      /                   SINGLE FAMILY DETACH   240           10.94         14,500.00       169.78   
  SWAIN                              Primary                10/15/2017    96.24         14,469.00        12.990  
  4  DRUID AVENUE                    2                      No                         132,500.00                
  PEABODY, MA 01960                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101731      /                   SINGLE FAMILY DETACH   180           26.45         41,000.00       566.83   
  DANIEL                             Primary                10/16/2012    99.90         40,873.49        14.750  
  4362  SAHARA DRIVE                 2                      No                         155,000.00                
  KENNESAW, GA 30144                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101734      /                   SINGLE FAMILY DETACH   180           20.00         30,000.00       414.75   
  DOLLAR                             Primary                10/13/2012   100.00         29,907.43        14.750  
  164  MCKENZIE COURT                2                      No                         150,000.00                
  STOCKBRIDGE, GA 30281                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        26       Page Balance:      $294,030.44
<PAGE>   29

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7101741      /                   SINGLE FAMILY DETACH   84            11.77         10,000.00       191.57   
  ENAHORA                            Primary                10/11/2004    96.76          9,861.85        14.750  
  2817  CLOVERHURST DRIVE            2                      No                          85,000.00                
  EAST POINT, GA 30344                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7101746      /                   SINGLE FAMILY DETACH   180          100.00        151,215.00     1,631.47   
  GAITAN                             Primary                09/30/2012   100.00        151,101.58        12.650  
  3750  MCCLURE WOODS DRIVE          1                      No                         185,000.00                
  DULUTH, GA 30096                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7101763      /                   SINGLE FAMILY DETACH   180           15.00         13,500.00       184.34   
  JAMES                              Primary                10/10/2012    95.00         13,457.31        14.500  
  3567  STRATFORD PLACE              2                      No                          90,000.00                
  DOUGLASVILL, GA 30135                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101769      /                   SINGLE FAMILY DETACH   240           25.85         53,000.00       649.46   
  KERN                               Primary                10/05/2017    94.63         52,915.18        13.750  
  214  APPALACHIAN TRAIL             2                      No                         205,000.00                
  LEXINGTON, SC 29072                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7101771      /                   SINGLE FAMILY DETACH   180           11.17         19,100.00       241.54   
  KOMINKIEWICZ                       Primary                10/08/2012    92.08         19,030.06        12.990  
  52097  EVARD DRIVE                 2                      No                         171,000.00                
  GRANGER, IN 46530                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101772      /                   SINGLE FAMILY DETACH   180           26.10         16,000.00       202.33   
  KREMINSKI                          Primary                10/03/2012    94.83         15,941.42        12.990  
  5445  OLD DOMINION ROAD            2                      No                          61,300.00                
  COLUMBUS, GA 31909                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101777      /                   SINGLE FAMILY DETACH   108           10.11          9,000.00       163.17   
  MARTIN                             Primary                09/24/2006    96.07          8,891.24        16.990  
  213  MEADOWBURY DRIVE              2                      No                          89,000.00                
  COLUMBIA, SC 29203                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101787      /                   SINGLE FAMILY DETACH   180           31.77         37,171.00       513.89   
  MYERS                              Primary                10/06/2012    99.93         37,056.30        14.750  
  2841  FOREST WOOD DRIVE            2                      No                         117,000.00                
  MARIETTA, GA 30066                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7101807      /                   SINGLE FAMILY DETACH   180           14.88         18,750.00       268.87   
  THORPE                             Primary                04/01/2012    94.25         18,668.91        15.500  
  6404  BATTLEFORD DRIVE             2                      No                         126,000.00                
  RALEIGH, NC 27613                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7101808      /                   SINGLE FAMILY DETACH   180           19.16         20,000.00       279.78   
  UTZ                                Primary                09/25/2012    99.84         19,939.73        14.990  
  6048  LAKEWAY DRIVE                2                      No                         104,400.00                
  FAYETTEVILL, NC 28306                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        27       Page Balance:      $346,863.58
<PAGE>   30

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7101825      /                   SINGLE FAMILY DETACH   180           14.58         28,000.00       401.52   
  HURD                               Primary                10/01/2012    99.39         27,878.89        15.500  
  3709  MOHAWK DRIVE                 2                      No                         192,000.00                
  MOUNT VERNO, WA 98273                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101861      /                   Condo Less Than        180           20.00         18,100.00       234.88   
                                     5 Floors
  BROWN                              Primary                09/26/2012   100.00         18,004.71        13.490  
  1109  NW 107 AVENUE                2                      No                          93,000.00                
  PEMBROKE PI, FL 33026                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101944      /                   SINGLE FAMILY DETACH   180           20.00         21,000.00       293.77   
  O'REILLY                           Primary                09/26/2012   100.00         20,936.72        14.990  
  455  36TH AVE NORTH                2                      No                         105,000.00                
  ST. PETERSB, FL 33704                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101946      /                   SINGLE FAMILY DETACH   180           15.74         24,400.00       300.58   
  PALLADINO                          Primary                10/01/2012    99.83         24,258.69        12.490  
  241  THIRD AVE                     2                      No                         155,000.00                
  INDIALANTIC, FL 32903                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7101971      /                   SINGLE FAMILY DETACH   180           19.39         20,750.00       262.41   
  SCHWIND                            Primary                10/01/2012    99.95         20,635.40        12.990  
  902  70TH DRIVE EAST               2                      No                         107,000.00                
  SARASOTA, FL 34243                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7102016      /                   SINGLE FAMILY DETACH   180           26.32         50,000.00       699.45   
  TILLOTSON                          Primary                09/10/2012    99.98         49,792.82        14.990  
  2524  MANZANO LOOP NORTHEA         2                      No                         190,000.00                
  RIO RANCHO, NM 87124                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7102017      /                   SINGLE FAMILY DETACH   180           19.62         41,200.00       547.29   
  ALSOP                              Primary                10/17/2012    99.96         41,062.53        13.950  
  45  SHENIN DRIVE                   2                      No                         210,000.00                
  NEWARK, DE 19702                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7102037      /                   SINGLE FAMILY DETACH   240           20.00         33,000.00       410.12   
  HARRIS                             Primary                10/17/2017   100.00         32,948.91        13.990  
  1239  ARNOW AVENUE                 2                      No                         165,000.00                
  BRONX, NY 10469                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7102052      /                   SINGLE FAMILY DETACH   120           21.49         41,900.00       625.36   
  TOUSSAINT                          Primary                10/17/2007    99.90         41,554.56        12.990  
  31  PELLBRIDGE ROAD                2                      No                         195,000.00                
  HOPEWELL JU, NY 12533                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102068      /                   SINGLE FAMILY DETACH   180            7.95         15,500.00       202.79   
  HOVER                              Primary                10/16/2012    99.66         15,446.74        13.650  
  10302  SOUTH 2950 WEST             2                      No                         195,000.00                
  SOUTH JORDA, UT 84045                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        28       Page Balance:      $292,519.97
<PAGE>   31

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7102078      /                   SINGLE FAMILY DETACH   180           16.90         24,500.00       319.72   
  ROBINSON                           Primary                10/17/2012    95.86         24,415.42        13.600  
  1301  NORTH SHERIDAN               2                      No                         145,000.00                
  MARION, IN 46952                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7102185      /                   Manuf Hsg Dbl-Wide     180           15.24         16,000.00       212.97   
  KRISTOVICH                         Primary                10/08/2012    90.24         15,946.82        13.990  
  4582  A HIGHWAY 231                2                      No                         105,000.00                
  SPRINGDALE, WA 99173                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7102255      /                   SINGLE FAMILY DETACH   180           39.87         59,000.00       756.22   
  EMMONS                             Primary                10/01/2012   100.00         58,682.23        13.250  
  605  STATLEY PINES ROAD            2                      No                         148,000.00                
  NEW BERN, NC 28560                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7102257      /                   SINGLE FAMILY DETACH   180           15.00         17,400.00       228.81   
  FOSTER                             Primary                09/01/2012   100.00         17,249.42        13.750  
  9  MAGNOLIA DRIVE                  2                      No                         116,000.00                
  CARTERSVILL, GA 30120                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102270      /                   SINGLE FAMILY DETACH   180           10.00          5,800.00        55.57   
  MEGGETT                            Primary                08/01/2012   100.00          5,789.63        11.080  
  7715  KNOLLWOOD DRIVE              2                      No                          60,000.00                
  CHARLESTON, SC 29418                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7102276      /                   SINGLE FAMILY DETACH   180           20.00         13,400.00       151.26   
  SHELTON                            Primary                09/01/2012   100.00         13,273.08        10.880  
  148  WOODLAND CIRCLE               2                      No                          67,000.00                
  JONESBOROUG, TN 37659                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102291      /                   SINGLE FAMILY DETACH   180           25.14         50,900.00       677.86   
  HANSEN                             Primary                10/10/2012    94.92         50,730.96        14.000  
  1178  PLEASANT RIDGE ROAD          2                      No                         202,500.00                
  GREENSBORO, NC 27409                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7102561      /                   SINGLE FAMILY DETACH   180           13.71         24,000.00       319.46   
  WALKER                             Primary                10/14/2012    99.85         23,919.68        13.990  
  2311  MORRISON AVENUE, #3          2                      No                         175,000.00                
  TAMPA, FL 33629                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7102565      /                   SINGLE FAMILY DETACH   180          100.00        182,000.00     2,171.44   
  LINK                               Primary                08/06/2012   100.00        180,477.21        11.890  
  574  DARR RD                       1                      No                         182,000.00                
  THOMASVILLE, NC 27360                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102708      /                   SINGLE FAMILY DETACH   180          100.00         48,750.00       459.66   
  LESSARD                            Primary                09/29/2012   100.00         48,714.32        10.880  
  40  STARR AVENUE                   1                      No                          80,000.00                
  MONTICELLO, NY 12701                                                                                           
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        29       Page Balance:      $439,198.77
<PAGE>   32


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7102709      /                   SINGLE FAMILY DETACH   360          100.00         43,425.00       443.00   
  MALLORY                            Primary                10/14/2027   100.00         43,412.27        11.890  
  854  SOUTH WAVERLY STREET          1                      No                          58,000.00                
  COLUMBUS, OH 43227                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7102860      /                   SINGLE FAMILY DETACH   180           20.00         22,400.00       283.27   
  BENTLEY                            Primary                10/17/2012   100.00         22,317.98        12.990  
  1717  WEST MONTERSOA STREE         2                      No                         112,000.00                
  PHOENIX, AZ 85015                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7102866      /                   SINGLE FAMILY DETACH   180           20.00         15,400.00       194.75   
  BROADWAY                           Primary                11/01/2012   100.00         15,340.58        12.990  
  1975  PLEASANT GROVE ROAD          2                      No                          77,000.00                
  WESTMORELAN, TN 37186                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102882      /                   SINGLE FAMILY DETACH   180           38.00         47,500.00       585.14   
  DEAKIN                             Primary                10/06/2012    95.42         47,317.57        12.490  
  1907  SHERIDAN ROAD                2                      No                         125,000.00                
  PERKIN, IL 61554                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7102885      /                   SINGLE FAMILY DETACH   180           20.00         14,200.00       179.58   
  DONOHUE                            Primary                10/01/2012   100.00         14,121.57        12.990  
  3245  WILLIAMSBURG STREET          2                      No                          73,000.00                
  SARASOTA, FL 34231                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7102888      /                   SINGLE FAMILY DETACH   180           21.49         21,000.00       258.70   
  DUNNAWAY                           Primary                10/10/2012    91.58         20,919.33        12.490  
  2514  MARTIN LUTHER KING J         2                      No                          97,700.00                
  ALBANY, GA 31701                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7102890      /                   SINGLE FAMILY DETACH   180           20.00         21,000.00       265.57   
  EARL                               Primary                10/15/2012   100.00         20,923.10        12.990  
  609  WESTWOOD AVENUE               2                      No                         105,000.00                
  HIGH POINT, NC 27262                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7102909      /                   SINGLE FAMILY DETACH   180           15.57         26,000.00       328.80   
  GRAHAM                             Primary                10/14/2012    96.46         25,952.65        12.990  
  1024  RICCO DRIVE                  2                      No                         167,000.00                
  SPARKS, NV 89434                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7102911      /                   SINGLE FAMILY DETACH   180           34.59         45,490.00       575.26   
  GUERRA                             Primary                10/06/2012   100.00         45,323.44        12.990  
  6069  SW 152 PLACE                 2                      No                         131,500.00                
  MIAMI, FL 33193                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7102921      /                   SINGLE FAMILY DETACH   180           29.40         36,450.00       460.95   
  HIXON                              Primary                10/20/2012    99.97         36,316.52        12.990  
  4075  ALAN SHEPPARD AVENUE         2                      No                         124,000.00                
  COCOA, FL 32926                                                                                                
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        30       Page Balance:      $291,945.01
<PAGE>   33


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7102922      /                   SINGLE FAMILY DETACH   180           20.00         27,200.00       343.97   
  HOWELL                             Primary                10/15/2012   100.00         27,100.40        12.990  
  12201  MAGNOLIA WAY                2                      No                         136,000.00                
  THORNTON, CO 80241                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7102923      /                   SINGLE FAMILY DETACH   180           41.62         41,000.00       518.48   
  HUNTER                             Primary                10/15/2012    99.95         40,849.89        12.990  
  2119  TUDOR PLACE                  2                      No                          98,500.00                
  RALEIGH, NC 27610                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7102931      /                   SINGLE FAMILY DETACH   180           21.68         20,600.00       260.51   
  KISER                              Primary                10/01/2012    99.86         20,486.24        12.990  
  4300  DERBYSHIRE TRACE             2                      No                          95,000.00                
  CONYERS, GA 30208                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7102932      /                   SINGLE FAMILY DETACH   180           21.89         21,450.00       271.26   
  KRAUSCH                            Primary                10/06/2012    99.80         21,371.45        12.990  
  1791  CLOVER CIRCLE                2                      No                          98,000.00                
  MELBOURNE, FL 32935                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7102936      /                   SINGLE FAMILY DETACH   180          100.00         50,400.00       441.93   
  LEE                                Primary                10/03/2012   100.00         50,355.11         9.990  
  5011  COLLINWOOD DRIVE             1                      No                          68,000.00                
  CLARKSVILLE, TN 37042                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7102942      /                   SINGLE FAMILY DETACH   180            9.21         14,000.00       177.05   
  MALINOSKI                          Primary                10/20/2012    99.98         13,948.72        12.990  
  6214  BOONE DRIVE                  2                      No                         152,000.00                
  TAMPA, FL 33625                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7102959      /                   SINGLE FAMILY DETACH   180           95.00         71,250.00       746.08   
  MUNIZ                              Primary                10/16/2012    95.00         71,211.14        12.240  
  281  WEST 31 STREET                1                      No                          82,000.00                
  HIALEAH, FL 33012                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7103011      /                   SINGLE FAMILY DETACH    72           15.75         20,000.00       401.38   
  TROZENSKI                          Primary                10/01/2003    94.49         19,628.24        12.990  
  18806  NORTH 1ST AVENUE            2                      No                         127,000.00                
  PHOENIX, AZ 85027                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7103083      /                   SINGLE FAMILY DETACH   180           21.43         30,000.00       384.33   
  ALMEIDA                            Primary                10/22/2012   100.00         29,892.75        13.240  
  4021  SW 131 AVENUE                2                      No                         140,000.00                
  MIAMI, FL 33175                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7103085      /                   SINGLE FAMILY DETACH   180           20.00         36,000.00       467.16   
  ANDERSON                           Primary                10/21/2012   100.00         35,874.38        13.490  
  22108  84TH STREET                 2                      No                         180,000.00                
  SALEM, WI 53168                                                                                                
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        31       Page Balance:      $330,718.32
<PAGE>   34


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7103098      /                   SINGLE FAMILY DETACH   180           20.00         29,000.00       366.73   
  BUTLER                             Primary                10/16/2012   100.00         28,893.82        12.990  
  159  LAKESHORE VISTA DRIV          2                      No                         145,000.00                
  KINGSTON, TN 37763                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7103124      /                   SINGLE FAMILY DETACH   180           26.30         43,400.00       548.83   
  GARNHART                           Primary                10/17/2012    99.98         43,241.10        12.990  
  47  HUMMINGBIRD LANE               2                      No                         165,000.00                
  STREAMWOOD, IL 60107                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7103164      /                   SINGLE FAMILY DETACH   180           20.00         29,600.00       384.11   
  MART                               Primary                10/22/2012   100.00         29,496.71        13.490  
  1159  BEACH ROAD                   2                      No                         148,000.00                
  SINGER ISLA, FL 33404                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7103180      /                   SINGLE FAMILY DETACH   180           15.00         19,800.00       250.39   
  PULLMAN                            Primary                10/22/2012   100.00         19,727.50        12.990  
  6032  SOUTH COOPER CITY DR         2                      No                         132,000.00                
  SALT LAKE C, UT 84118                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7103194      /                   SINGLE FAMILY DETACH   180           20.00         37,100.00       469.17   
  SCOTT                              Primary                10/20/2012   100.00         36,963.60        12.990  
  2299  HENPECK LANE                 2                      No                         195,000.00                
  FRANKLIN, TN 37064                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7103203      /                   SINGLE FAMILY DETACH   180           95.00         85,500.00       878.81   
  THOMPSON                           Primary                10/22/2012    95.00         85,450.71        11.990  
  5531  SW 8 COURT                   1                      No                          90,000.00                
  MARGATE, FL 33068                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7105974      /                   SINGLE FAMILY DETACH   180           71.43         22,500.00       241.01   
  HOWARD                             Investor               12/01/2012    71.43         22,494.30        12.550  
  112  SOUTH WHITESBORO STR          1                      No                          31,500.00                
  GALESBURG, IL 61401                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7106110      /                   SINGLE FAMILY DETACH   180           21.35         39,500.00       539.38   
  BARFIELD                           Primary                11/18/2012    94.22         39,437.91        14.500  
  8550  FRUITON AVENUE               2                      No                         185,000.00                
  FLORAL CITY, FL 34436                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110045      /                   SINGLE FAMILY DETACH   180           34.64         16,625.00       232.57   
  BELL                               Primary                10/16/2012    99.83         16,574.89        14.990  
  2347  MASON STREET                 2                      No                          48,000.00                
  MACON, GA 31206                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7110052      /                   SINGLE FAMILY DETACH   180           29.65         29,500.00       412.68   
  BROWN                              Primary                10/14/2012    99.98         29,411.09        14.990  
  6609  LANDING TRAIL                2                      No                          99,500.00                
  POWDER SPRI, GA 30127                                                                                          
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        32       Page Balance:      $351,691.63
<PAGE>   35


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7110103      /                   SINGLE FAMILY DETACH   180           20.00         15,398.00       210.16   
  MARTIN                             Primary                09/17/2012   100.00         15,349.33        14.490  
  2014  OAK STREET                   2                      No                          77,000.00                
  CHATTANOOGA, TN 37404                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110108      /                   SINGLE FAMILY DETACH   180           19.40         14,355.00       200.82   
  MCKINNIE                           Primary                10/27/2012    95.86         14,312.21        14.990  
  32  CAMELLIA DRIVE                 2                      No                          74,000.00                
  JACKSON, TN 38301                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110115      /                   SINGLE FAMILY DETACH   180           98.08         58,650.00       558.54   
  NEAL                               Primary                10/28/2012    98.08         58,607.52        11.000  
  5506  KEELE STREET                 1                      No                          69,500.00                
  JACKSON, MS 39206                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110190      /                   SINGLE FAMILY DETACH   120          100.00         57,600.00       516.15   
  ROBINSON                           Primary                04/23/2006   100.00         56,969.57        10.250  
  408  CO. RD. 442                   1                      No                          68,000.00                
  ATHENS, TN 37303                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7110197      /                   SINGLE FAMILY DETACH   180          100.00         28,000.00       261.38   
  CHADWICK                           Investor               11/01/2012   100.00         27,978.81        10.750  
  ALENDER'S MEADOW LAN               1                      No                          40,000.00                
  INDIANAPOLI, IN 46224                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110203      /                   SINGLE FAMILY DETACH   180          100.00         58,800.00       598.05   
  GRIMES                             Primary                10/21/2012   100.00         58,765.03        11.850  
  2515  LINNELL DRIVE                1                      No                          73,500.00                
  ST.LOUIS, MO 63136                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7110208      /                   SINGLE FAMILY DETACH   180          100.00         52,500.00       576.66   
  MUIRHEAD                           Primary                10/01/2012   100.00         52,462.75        12.900  
  17407  S. KEDZIE                   1                      No                          70,000.00                
  HAZEL CREST, IL 60429                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110232      /                   SINGLE FAMILY DETACH   180           22.73         25,000.00       326.24   
  ALBAKRI                            Primary                10/23/2012    95.46         24,913.70        13.600  
  1529  E 66TH PL                    2                      No                         110,000.00                
  CHICAGO, IL 60637                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110238      /                   SINGLE FAMILY DETACH   132           18.52         10,000.00       142.70   
  ARMSTRONG                          Primary                10/22/2008    92.59          9,930.73        12.990  
  259  THURBER STREET                2                      No                          54,000.00                
  SYRACUSE, NY 13210                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7110245      /                   SINGLE FAMILY DETACH   180           20.00         10,000.00       133.11   
  BLUM                               Primary                10/27/2012   100.00          9,966.75        13.990  
  2112  WALNUT STREET                2                      No                          50,000.00                
  VESTAL, NY 13850                                                                                               
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        33       Page Balance:      $329,256.40
<PAGE>   36


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate   
  Name/Address                       Lien Type              Modified                   Appraisal                   
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7110272      /                   SINGLE FAMILY DETACH   180           21.78         19,600.00       254.47   
  COLLVER                            Primary                10/01/2012    68.44         19,496.94        13.500  
  465  BEATRICE AVE                  2                      No                          90,000.00                
  GLADSTONE, OR 97027                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7110298      /                   SINGLE FAMILY DETACH   180           35.22         39,800.00       519.38   
  GATEWOOD                           Primary                10/23/2012    99.98         39,662.60        13.600  
  5150  N LAFAYETTE AVE              2                      No                         113,000.00                
  EVANSVILLE, IN 47711                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7110352      /                   SINGLE FAMILY DETACH   180           34.59         46,000.00       601.82   
  NEWTON-SNOW                        Primary                10/20/2012    93.67         45,841.97        13.650  
  5362  NE WINDROW ST                2                      No                         133,000.00                
  HILLSBORO, OR 97124                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7110368      /                   SINGLE FAMILY DETACH   180           13.02         22,000.00       315.48   
  RIGGS                              Primary                11/01/2012    91.72         21,936.97        15.500  
  8433  DANA ST NE                   2                      No                         169,000.00                
  OLYMPIA, WA 98506                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110376      /                   SINGLE FAMILY DETACH   240           20.00         35,000.00       409.80   
  SECONE                             Primary                10/20/2017   100.00         34,937.82        12.990  
  27  WARREN AVENUE                  2                      No                         175,000.00                
  HAVERSTRAW, NY 10927                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7110379      /                   SINGLE FAMILY DETACH   180           32.22         29,000.00       386.01   
  SMITH                              Primary                10/16/2012    97.20         28,903.60        13.990  
  13304  BERMUDA PLACE DRIVE         2                      No                          90,000.00                
  CHESTER, VA 23831                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110382      /                   SINGLE FAMILY DETACH   180           85.00         71,400.00       679.42   
  SPINLER                            Primary                10/27/2012    85.00         71,307.38        10.990  
  1207  WAYNE RD                     1                      No                          84,000.00                
  ALPENA, MI 49707                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7110384      /                   SINGLE FAMILY DETACH   240           90.00         61,200.00       590.19   
  STEVENSON                          Primary                10/27/2017    90.00         61,037.93         9.990  
  13556  SHORTCUT ROAD               1                      No                          68,000.00                
  STERLING, NY 13156                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7110385      /                   SINGLE FAMILY DETACH   240           24.07         19,500.00       235.44   
  THEETGE                            Primary                10/21/2017    98.12         19,467.69        13.500  
  292  RIDER AVENUE                  2                      No                          81,000.00                
  SYRACUSE, NY 13207                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7110414      /                   SINGLE FAMILY DETACH   180           31.96         44,750.00       603.49   
  KAWAMURA                           Primary                10/19/2012    99.99         44,604.98        14.250  
  140  ALAPAKI PLACE                 2                      No                         140,000.00                
  HILO, HI 96720                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        34       Page Balance:      $387,197.88
<PAGE>   37


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7110428      /                   SINGLE FAMILY DETACH   180           15.00         13,350.00       177.70   
  DIXON                              Primary                09/01/2012    95.00         13,270.39        13.990  
  7616  BULL HILL ROAD               2                      No                          89,000.00                
  PRINCE GEOR, VA 23875                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110430      /                   SINGLE FAMILY DETACH   180           10.00         12,800.00       183.55   
  DOMINGUEZ                          Primary                09/15/2012    90.00         12,712.32        15.500  
  20109  NW 62ND AVENUE              2                      No                         130,000.00                
  MIAMI, FL 33015                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7110431      /                   SINGLE FAMILY DETACH   180           24.91         18,434.00       239.33   
  DORCE                              Primary                10/25/2012    95.42         18,369.74        13.500  
  1524  NE 152 STREET                2                      No                          74,000.00                
  NORTH MIAMI, FL 33162                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110469      /                   SINGLE FAMILY DETACH   180           20.00         28,800.00       402.88   
  RAFFENSBERGER                      Primary                10/25/2012   100.00         28,713.22        14.990  
  4206  RALPH AVENUE                 2                      No                         144,000.00                
  HAMPSTEAD, MD 21074                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7110522      /                   SINGLE FAMILY DETACH   120           20.00         20,000.00       298.50   
  LYNCH                              Primary                11/01/2007   100.00         19,835.11        12.990  
  23  LAKE AVENUE PO BO              2                      No                         100,000.00                
  GREENWOOD L, NY 10925                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110526      /                   SINGLE FAMILY DETACH   240           20.00         29,000.00       339.55   
  MATTHEWS                           Primary                10/30/2017   100.00         28,948.48        12.990  
  11  MAHEU DRIVE                    2                      No                         145,000.00                
  BURLINGTON, CT 06023                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7110655      /                   SINGLE FAMILY DETACH   132           20.00         11,200.00       173.00   
  RIBLEY                             Primary                09/04/2008   100.00         11,096.94        14.900  
  3731  CROSSWINDS DRIVE             2                      No                          56,000.00                
  DARLINGTON, SC 29532                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7110709      /                   SINGLE FAMILY DETACH   180           15.00         13,800.00       179.17   
  JOHNSON                            Primary                10/25/2012    95.00         13,751.89        13.500  
  111  DOZER DRIVE                   2                      No                          92,000.00                
  YOUNGSVILLE, NC 27596                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7110712      /                   Town House             180           20.00         18,200.00       260.86   
  JONES                              Primary                10/25/2012   100.00         18,147.81        15.490  
  215  MEADOWS LANE NE               2                      No                          91,000.00                
  LEESBURG, VA 20176                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7110716      /                   SINGLE FAMILY DETACH   180           15.00         33,300.00       381.16   
  KOHL                               Primary                09/01/2012    95.00         32,895.40        13.490  
  12305  CLIVEDEN STREET             2                      No                         238,000.00                
  HERNDON, VA 20170                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        35       Page Balance:      $197,741.30
<PAGE>   38


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7110725      /                   SINGLE FAMILY DETACH   240           21.46         32,190.00       400.06   
  MARIN                              Primary                10/25/2017    94.81         32,140.15        13.990  
  8201  SW 163 PLACE                 2                      No                          15,000.00                
  MIAMI, FL 33193                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7110780      /                   SINGLE FAMILY DETACH   144           12.42         17,700.00       265.54   
  GIBSON                             Primary                11/05/2009    99.89         17,655.56        14.990  
  117  33 165TH STREET               2                      No                         142,500.00                
  JAMAICA, NY 11434                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7110996      /                   SINGLE FAMILY DETACH   180          100.00        144,000.00     1,469.02   
  BANKS                              Primary                11/03/2012   100.00        143,957.78        11.890  
  520  SOUTH 37TH STREE              1                      No                         180,000.00                
  RICHMOND, CA 94804                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7111000      /                   SINGLE FAMILY DETACH   240           20.00         15,600.00       214.12   
  CARPENTER                          Primary                10/29/2017   100.00         15,581.14        15.750  
  33  EATON ROAD                     2                      No                          78,000.00                
  PENNSVILLE, NJ 08070                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7111021      /                   SINGLE FAMILY DETACH   180           19.55         26,392.00       302.09   
  LOMELI                             Primary                10/29/2012    90.07         26,381.14        13.490  
  1310  E CASINO RD                  2                      No                         135,000.00                
  EVERETT, WA 98203                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7111024      /                   SINGLE FAMILY DETACH   180           16.67         22,000.00       284.90   
  MATTHEWS                           Primary                11/01/2012    92.42         21,844.13        13.450  
  3  TALAYA COURT                    2                      No                         132,000.00                
  LOS LUNAS, NM 87031                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7111264      /                   SINGLE FAMILY DETACH   240           17.87         21,800.00       253.08   
  MILLER                             Primary                10/06/2017    90.00         21,760.51        12.850  
  10537  CLEARVIEW DRIV              2                      No                         122,000.00                
  SANDY, UT 84070                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7111267      /                   SINGLE FAMILY DETACH   360           53.37         87,000.00       762.84   
  PEREZ                              Primary                11/01/2027    53.37         86,922.55         9.990  
  430  UNDERHILL AVENUE              1                      No                         163,000.00                
  BRONX, NY 10473                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7111269      /                   SINGLE FAMILY DETACH   360           85.00         97,750.00     1,080.55   
  PROVENZANO                         Primary                10/30/2027    85.00         97,727.59        12.990  
  115  WEST HEATHER ROA              1                      No                         115,000.00                
  WILDWOOD CR, NJ 08260                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7111271      /                   SINGLE FAMILY DETACH   240           22.08         28,700.00       316.01   
  ROTH                               Primary                11/03/2017    78.47         28,670.99        12.000  
  7499  EAST MURRAY DRI              2                      No                         130,000.00                
  CICERO, NY 13039                                                                                               
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        36       Page Balance:      $492,641.54
<PAGE>   39


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7111288      /                   SINGLE FAMILY DETACH   180           46.74         64,500.00       841.71   
  EWART                              Primary                11/04/2012    98.51         64,389.29        13.600  
  327  PARMA VIEW DRIVE              2                      No                         138,000.00                
  HILTON, NY 14468                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7111289      /                   SINGLE FAMILY DETACH   240           77.14         81,000.00       808.69   
  GRAZIADEI                          Primary                11/03/2017    79.65         80,900.06        10.500  
  2730  ONEIDA STREET                2                      No                         105,000.00                
  SAQUOIT, NY 13456                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7111302      /                   SINGLE FAMILY DETACH   180           18.46         12,000.00       140.95   
  RICHARDS                           Primary                11/05/2012    56.19         11,975.05        11.600  
  44  LODGE DRIVE                    2                      No                          65,000.00                
  ROCHESTER, NY 14622                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7111307      /                   SINGLE FAMILY DETACH   180           34.26         43,000.00       561.14   
  STROBLE                            Primary                11/04/2012    94.81         42,926.19        13.600  
  3768  RED CEDAR DRIVE              2                      No                         125,500.00                
  COLORADO SP, CO 80906                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7111309      /                   SINGLE FAMILY DETACH   180           13.72         30,600.00       367.05   
  WALKER                             Primary                11/05/2012    84.99         30,538.70        11.990  
  5810  CARSON RD                    2                      No                         223,000.00                
  RIO RANCHO, NM 87124                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7111310      /                   SINGLE FAMILY DETACH   180           30.33         27,900.00       361.30   
  WEIG                               Primary                10/01/2012    99.94         27,752.60        13.450  
  303  S HARRIS DR                   2                      No                          92,000.00                
  MESA, AZ 85204                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  TC7111312      /                   SINGLE FAMILY DETACH   120           45.65         21,000.00       275.78   
  WIMMER                             Primary                11/03/2007    58.05         20,896.59         9.850  
  320  DOVER ST                      2                      No                          46,000.00                
  KINGSLEY, IA 51028                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7111345      /                   SINGLE FAMILY DETACH   180           80.00         52,000.00       562.66   
  CRAWLEY                            Primary                10/27/2012    80.00         51,945.92        12.690  
  13451  SW 267 ST                   1                      No                          65,000.00                
  HOMESTEAD, FL 33032                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7111355      /                   SINGLE FAMILY DETACH   120           70.22         47,750.00       664.54   
  DEYOUNKS                           Primary                10/27/2007    79.94         47,314.20        11.250  
  1309  WEST 26 STREET               2                      No                          68,000.00                
  RIVIERA BEA, FL 33404                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7111358      /                   SINGLE FAMILY DETACH   180           25.14         45,000.00       569.07   
  ERVIN                              Primary                11/01/2012    96.41         44,835.23        12.990  
  106  EAST BOYD STREET              2                      No                         179,000.00                
  MAIDEN, NC 28650                                                                                               
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        37       Page Balance:      $423,473.83
<PAGE>   40


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7111369      /                   SINGLE FAMILY DETACH   180           44.67         41,100.00       519.75   
  GREENHILL                          Primary                10/01/2012    99.93         40,873.03        12.990  
  5505  WINDY WILLOW DRIVE           2                      No                          92,000.00                
  LOUISVILLE, KY 40241                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7111370      /                   SINGLE FAMILY DETACH   180           31.51         23,000.00       290.86   
  GUTIERREZ                          Primary                11/01/2012   100.00         22,915.78        12.990  
  380  NW 136TH STREET               2                      No                          73,000.00                
  MAIMI, FL 33168                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7111390      /                   SINGLE FAMILY DETACH   180           28.61         22,600.00       285.80   
  LOVEBERRY                          Primary                10/27/2012    93.63         22,416.71        12.990  
  12423  S. MICHIGAN AVE.            2                      No                          79,000.00                
  CHICAGO, IL 60628                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7111413      /                   SINGLE FAMILY DETACH   180           25.11         29,500.00       363.41   
  OBERMAN                            Primary                10/27/2012   100.00         29,313.13        12.490  
  57  SOUTH PSTTERSON PLAC           2                      No                         117,500.00                
  SPARKS, NV 89436                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7111441      /                   Condo Less Than        180           41.28         19,400.00       245.33   
                                     5 Floors
  SPECKHARDT                         Primary                10/06/2012    99.91         19,328.97        12.990  
  4267  OAK TERRACE DRIVE            2                      No                          47,000.00                
  LAKE WORTH, FL 33463                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7111470      /                   SINGLE FAMILY DETACH   180           15.78         17,200.00       227.91   
  LOPEZ                              Primary                08/20/2012    94.92         17,083.29        13.900  
  1026  N.W. 123 COURT               2                      No                         109,000.00                
  MIAMI, FL 33182                                                                                                
- -----------------------------------------------------------------------------------------------------------------
  TC7111493      /                   SINGLE FAMILY DETACH   240           90.00         84,600.00       872.66   
  ROZIER                             Primary                11/03/2017    90.00         84,501.79        10.990  
  15045  ROSEMONT                    1                      No                          94,000.00                
  DETROIT, MI 48223                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7111605      /                   SINGLE FAMILY DETACH   360           90.00         54,000.00       513.85   
  BARNETT                            Primary                09/15/2027    90.00         53,980.70        10.990  
  738  BELFAST DRIVE                 1                      No                          60,000.00                
  GASTONIA, NC 28052                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7111696      /                   SINGLE FAMILY DETACH   180           20.68         33,091.00       418.46   
  MOSS                               Primary                04/01/2012    95.00         32,677.14        12.990  
  OUTE 2 BOX 256B                    2                      No                         160,000.00                
  VINTON, VA 24179                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7111724      /                   SINGLE FAMILY DETACH   180           20.00         15,200.00       192.22   
  SANTOS                             Primary                11/05/2012    95.00         15,172.32        12.990  
  425  SOUTH BOULEVARD               2                      No                          76,000.00                
  DAVENPORT, FL 33873                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        38       Page Balance:      $338,262.86
<PAGE>   41

================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7111780      /                   SINGLE FAMILY DETACH   180           80.00        104,400.00       990.28   
  SCHONMANN SR                       Primary                11/12/2012    80.00        104,362.37        10.950  
  12  CHAPMAN CIRCLE                 1                      No                         131,000.00                
  POUGHKEEPSI, NY 12601                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7111782      /                   SINGLE FAMILY DETACH   180           80.00        176,000.00     1,538.03   
  WISNIEWSKI                         Primary                11/06/2012    80.00        175,921.30         9.950  
  8750  ALPINE VALLEY D              1                      No                         220,000.00                
  COLORADO SP, CO 80908                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7112256      /                   SINGLE FAMILY DETACH   180           15.00         27,900.00       366.88   
  CHAFIN                             Primary                11/05/2012    95.00         27,852.81        13.750  
  1409  AIKEN CHAFIN LANE            2                      No                         186,000.00                
  MCDONOUGH, GA 30252                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7112272      /                   SINGLE FAMILY DETACH   180           64.69         68,900.00       762.17   
  ADEBAYO                            Primary                06/28/2012    64.69         68,588.73        13.000  
  1917  CRADOCK ST                   1                      No                         106,500.00                
  SILVER SPRI, MD 20905                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7112287      /                   SINGLE FAMILY DETACH   180           16.09         15,450.00       201.62   
  CLARK                              Primary                11/13/2012   100.00         15,423.48        13.600  
  2029  E JUANITA AVE                2                      No                          96,000.00                
  MESA, AZ 85204                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  TC7112301      /                   SINGLE FAMILY DETACH   180           32.63         97,900.00       899.19   
  SHEA                               Primary                11/13/2012    32.63         97,861.51        10.550  
  4326  EAST PARADISE L              1                      No                         300,000.00                
  PHOENIX, AZ 85032                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112329      /                   SINGLE FAMILY DETACH   180           20.00          9,000.00       106.57   
  GREENWELL                          Primary                12/01/2012   100.00          8,998.36        13.990  
  1528  LULU                         2                      No                          45,000.00                
  WICHITA, KS 67211                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112337      /                   SINGLE FAMILY DETACH   180           70.00         28,000.00       379.31   
  MAHER                              Investor               11/10/2012    70.00         27,955.29        14.340  
  1679  1681 VILLA CIRCLE            1                      No                          40,000.00                
  MEMPHIS, TN 38108                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112341      /                   SINGLE FAMILY DETACH   180           75.00         22,125.00       261.98   
  MOODY III                          Primary                11/01/2012    75.00         22,116.85        13.990  
  617  MCLAUGHLIN                    1                      No                          29,500.00                
  MUSKEGON, MI 49442                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7112370      /                   SINGLE FAMILY DETACH   180           85.00         49,300.00       484.46   
  CHANEY                             Primary                10/06/2012    85.00         49,267.63        11.400  
  1124  MAIN STREET                  1                      No                          58,000.00                
  COVINGTON, KY 41011                                                                                            
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        39       Page Balance:      $598,348.33
<PAGE>   42


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7112371      /                   SINGLE FAMILY DETACH   180           80.00         38,000.00       480.79   
  CHEEK                              Primary                10/17/2012    80.00         37,861.01        13.000  
  537  COLUMBIA AVENUE               1                      No                          47,500.00                
  RAMSEUR, NC 27316                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112376      /                   SINGLE FAMILY DETACH   180           34.29         24,000.00       312.39   
  DEANS                              Primary                10/27/2012    34.29         23,916.75        13.550  
  100  SUMMIT AVENUE                 1                      No                          70,000.00                
  RALEIGH, NC 27603                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112416      /                   SINGLE FAMILY DETACH   180           75.00         51,000.00       495.34   
  VAUGHN                             Investor               11/06/2012    75.00         50,982.79        11.250  
  4147  WEST GREENWOOD AVENU         1                      No                          68,000.00                
  LOUISVILLE, KY 40271                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7112421      /                   SINGLE FAMILY DETACH   120           19.87         30,000.00       438.25   
  ZARR                               Primary                11/05/2007    82.91         29,861.25        12.450  
  519  MOUNTAIN VIEW RD              2                      No                         151,000.00                
  ROME, GA 30161                                                                                                 
- -----------------------------------------------------------------------------------------------------------------
  TC7112433      /                   SINGLE FAMILY DETACH   180           65.00         41,600.00       427.58   
  JOHNSON                            Investor               11/13/2012    65.00         41,588.07        11.990  
  24981  TREADWELL                   1                      No                          64,000.00                
  EUCLID, OH 44110                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7112507      /                   SINGLE FAMILY DETACH   180           20.97         52,000.00       657.58   
  HAYES                              Primary                11/17/2012    74.89         51,905.32        12.990  
  9401  JACLYN AVENUE                2                      No                         248,000.00                
  SAUQUOIT, NY 13456                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7112600      /                   SINGLE FAMILY DETACH   360           75.00         45,750.00       373.07   
  MARTIN                             Primary                11/01/2027    75.00         45,701.36         9.150  
  2213  BOIES STREET                 1                      No                          61,000.00                
  SIOUX CITY, IA 51109                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7112742      /                   SINGLE FAMILY DETACH   180           20.00         25,600.00       334.07   
  DELAPLAIN                          Primary                11/10/2012   100.00         25,556.06        13.600  
  540  EAST 14TH NORTH               2                      No                         128,000.00                
  MOUNTAIN HO, ID 83647                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7112749      /                   SINGLE FAMILY DETACH   360           75.00         57,750.00       541.26   
  GOWER                              Primary                11/13/2027    75.00         57,728.49        10.800  
  822  GEORGIA AVENUE                1                      No                          77,000.00                
  HAGERSTOWN, MD 21740                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7112778      /                   SINGLE FAMILY DETACH   180           80.00         33,600.00       345.61   
  MURRAY                             Primary                11/01/2012    80.00         33,580.68        12.000  
  11206  BLADES STREET               1                      No                          42,000.00                
  HOUSTON, TX 77016                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        40       Page Balance:      $398,681.78
<PAGE>   43


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7112783      /                   SINGLE FAMILY DETACH   180           85.00         33,150.00       314.44   
  TERRELL                            Primary                11/01/2012    85.00         33,125.99        10.950  
  10534  CAXTON STREET               1                      No                          40,000.00                
  HOUSTON, TX 77016                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112784      /                   SINGLE FAMILY DETACH   180           38.14         45,000.00       454.23   
  TESKE                              Primary                12/01/2012    38.14         44,986.40        11.750  
  210  71ST AVENUE                   1                      No                         118,000.00                
  WEST HAVRE, MT 59501                                                                                           
- -----------------------------------------------------------------------------------------------------------------
  TC7112785      /                   SINGLE FAMILY DETACH   180           75.00         45,000.00       428.55   
  YANKOVOY                           Investor               12/01/2012    75.00         44,983.95        11.000  
  151  DOBIE DRIVE                   1                      No                          60,000.00                
  WIMBERLEY, TX 78676                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7112823      /                   SINGLE FAMILY DETACH   180           70.00         38,500.00       373.94   
  HAIRSTON                           Primary                11/13/2012    70.00         38,487.00        11.250  
  1397  EAST 111TH STREET            1                      No                          55,000.00                
  CLEVELAND, OH 44102                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7112825      /                   SINGLE FAMILY DETACH   180           80.00         48,000.00       536.56   
  MARKER                             Primary                11/13/2012    80.00         47,891.44        10.700  
  322  6TH N.E.                      1                      No                          60,000.00                
  CLARION, IA 50525                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112826      /                   SINGLE FAMILY DETACH   180           25.30         33,900.00       383.18   
  MEYER                              Primary                11/17/2012    74.73         33,824.74        10.900  
  353  WILEY  RD.                    2                      No                         134,000.00                
  WATERTOWN, WI 53098                                                                                            
- -----------------------------------------------------------------------------------------------------------------
  TC7112828      /                   SINGLE FAMILY DETACH   180           20.12         17,500.00       209.47   
  MURRAY                             Primary                10/28/2012    20.12         17,429.25        11.950  
  800  CYPRESSTREE DRIVE             1                      No                          87,000.00                
  SEAT PLEASA, MD 20743                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7112832      /                   SINGLE FAMILY DETACH   180           56.67         17,000.00       201.30   
  STALLING                           Primary                11/01/2012    56.67         16,929.27        11.750  
  1501  WEST 10TH STREET             1                      No                          30,000.00                
  MARION, IN 46953                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7112901      /                   SINGLE FAMILY DETACH   180           75.00         54,750.00       592.83   
  CARMOUCHE                          Primary                09/22/2012    75.00         54,723.08        12.700  
  1268  WEST 73RD PLACE              1                      No                          73,000.00                
  CHICAGO, IL 60636                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112910      /                   2-Family               180           14.29         30,000.00       378.59   
  KLEISNER                           Primary                11/13/2012    73.33         29,945.16        12.950  
  4818  NEW ENGLAND AVENUE           2                      No                         210,000.00                
  CHICAGO, IL 60656                                                                                              
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
 Page:        41       Page Balance:      $362,326.28
<PAGE>   44


================================================================================
                     PAINEWEBBER REAL ESTATE SECURITIES INC.
                              LOAN SCHEDULE REPORT
                             IMC 97-7 Prefunding II
================================================================================
<TABLE>
<CAPTION>
                                     Property               Orig Term    Orig LTV      Orig Bal         Curr P+I           
  Loan Id/Alt Loan Id:               Occupancy Type         Maturity     Comb LTV      Curr Bal         Curr Rate          
  Name/Address                       Lien Type              Modified                   Appraisal                          
- -----------------------------------------------------------------------------------------------------------------
<S>                                  <C>                    <C>          <C>          <C>            <C>         
  TC7112914      /                   SINGLE FAMILY DETACH   180           20.00         16,000.00       230.55   
  MILLER                             Primary                10/29/2012    20.00         15,977.45        15.600  
  328  SOUTH VICTORY STREET          1                      No                          80,000.00                
  WAUKEGAN, IL 60085                                                                                             
- -----------------------------------------------------------------------------------------------------------------
  TC7112916      /                   SINGLE FAMILY DETACH   360           65.00         26,000.00       279.51   
  PAIGE                              Primary                11/04/2027    65.00         25,973.00        12.600  
  1330  FAIRVIEW AVENUE              1                      No                          40,000.00                
  JOLIET, IL 60432                                                                                               
- -----------------------------------------------------------------------------------------------------------------
  TC7112917      /                   2-Family               180           65.00         40,300.00       433.24   
  PAIGE                              Primary                10/03/2012    65.00         40,196.16        12.600  
  5625  SOUTH HERMITAGE              1                      No                          62,000.00                
  CHICAGO, IL 60636                                                                                              
- -----------------------------------------------------------------------------------------------------------------
  TC7112922      /                   SINGLE FAMILY DETACH   180           37.59         50,000.00       537.30   
  SAVERSON                           Primary                11/18/2012    37.59         49,879.37        10.000  
  2  GINGER BEND                     1                      No                         133,000.00                
  EDWARDSVILL, IL 62025                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7112925      /                   SINGLE FAMILY DETACH   180           70.00         35,000.00       456.75   
  WILLIAMS                           Primary                10/30/2012    70.00         34,919.92        13.600  
  776  POST PLACE                    1                      No                          50,000.00                
  EAST ST. LO, IL 62205                                                                                          
- -----------------------------------------------------------------------------------------------------------------
  TC7113458      /                   SINGLE FAMILY DETACH   180           35.39         23,000.00       290.86   
  LOVEGROVE                          Primary                11/17/2012    96.19         22,958.12        12.990  
  6107  LOUDON RIDGE ROAD            2                      No                          65,000.00                
  LENOIR CITY, TN 37771                                                                                          
- -----------------------------------------------------------------------------------------------------------------
     Total Balance:   $15,548,634.03      Total Loans: 416            Total Current P&I:      $184,890.22
</TABLE>
 Page:        42       Page Balance:      $189,904.02


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