September 3, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Imperial CMB Trust Series 1998-2 Collateralized Asset-Backed
Bonds; File No. 333-38879.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of Imperial CMB Trust Series
1998-1 (as issuer under a series 1998-1 Indenture dated as of
January 29, 1998, providing for, among other things, the issuance of
Collateralized Asset-Backed Bonds Series 1998-1 is a Current Report
on Form 8-K.
The Series 1998-1 Collateralized Asset-Backed Bonds will include
four classes (the "Bonds"): (i) Class A Bonds (the "Senior Bonds");
(ii) Class M-1 Bonds and Class M-2 Bonds (together, the "Class M
Bonds"); and (iii) Class B Bonds (the "Class B Bonds"; and together
with the Class M Bonds, the "Subordinate Bonds"). The Bonds will
represent obligations of the Imperial CMB Trust Series 1998-1 (the
"Issuer"), which will be formed pursuant to a Trust Agreement to be
dated as of January 16, 1998. The Bonds will be issued pursuant to
an Indenture to be dated as of January 29, 1998, between the Issuer
and Bankers Trust Company of California, N.A., the Indenture Trustee
(the "Indenture
The Bonds were registered under the Securities Act of 1933. As a
result, the Registrant is subject to the filing requirements of
Section 15(d) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"). The Trust intends to fulfill these filing
requirements in the manner described herein:
The agent for Registrant will file, promptly after each Distribution
Date (as defined in the Indenture), a Current Report on Form 8-K in
substantially the form enclosed herewith, including as an exhibit
thereto the applicable Distribution Date Report. Each such Current
Report will also disclose under Item 5 any matter occurring during
the relevant reporting period which would be reportable under Item
1, 2, 4 or 5 of Part II of Form 10-Q.
Within 90 days after the end of each fiscal year, the agent for the
Registrant will file an annual report of Form 10-K, which responds to
Items 2, 3, and 4 of Part I, Items 5 and 9 of Part II, Items 12 and
13 of Part III and Item 14 of Part IV thereof, and include as
exhibits thereto certain information from the Distribution Date
reports aggregated for such year and a copy of the independent
accountants' annual compliance statement required under the Pooling
and Servicing Agreement.
The agent for the Registrant will follow the above procedures except
for any fiscal year as to which its reporting obligations under
Section 15(d) of the Exchange Act have been suspended pursuant to
such Section. In such event, the agent for the Registrant will file
a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (949) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Imperial CMB Trust Series 1998-1
Collateralized Asset-Backed Bonds Series, 1998-1.
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): February 26, 1998
IMPERIAL CMB TRUST SERIES 1998-1
(as issuer under the Indenture, dated as of January 29, 1998,
providing for the issuance of Collaterialized Asset-Backed Bonds
Series, 1998-1).
IMPERIAL CMB TRUST SERIES 1998-1
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-38879 33-0705301
(Commission File Number) (I.R.S. Employer
Identification No.)
c/o WILMINGTON TRUST COMPANY
RODNEY SQUARE NORTH
1100 NORTH MARKET STREET
WILMINGTON, DELAWARE 19890
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (714) 556-0122
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance Statements
to the Certificateholders which were derived from the monthly
information submitted by the Master Servicer to the Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
March 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
April 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
May 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
June 25, 1998.
SIGNATURE
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.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Indenture, dated as of
January 29, 1998.
Date: September 3, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders
dated as of February 25, 1998. 4
Monthly Remittance Statement to the Certificateholders
dated as of March 25, 1998. 7
Monthly Remittance Statement to the Certificateholders
dated as of April 25, 1998. 12
Monthly Remittance Statement to the Certificateholders
dated as of May 25, 1998. 16
Monthly Remittance Statement to the Certificateholders
dated as of June 25, 1998. 19
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A 295,678,848.00 295,678,848.00 1,638,553.62 1,193,480.75
M-1 27,982,225.00 27,982,225.00 166,727.42 112,947.70
M-2 24,251,262.00 24,251,262.00 146,518.04 97,888.01
B 14,923,854.00 14,923,854.00 90,164.95 60,238.78
TOTALS 362,836,189.00 362,836,189.00 2,041,964.03 1,464,555.24
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A 2,832,034.37 0.00 0.00 294,485,367.25
M-1 279,675.12 0.00 0.00 27,869,277.30
M-2 244,406.05 0.00 0.00 24,153,373.99
B 150,403.73 0.00 0.00 14,863,615.22
TOTALS 3,506,519.27 0.00 0.00 361,371,633.76
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A 452628AT7 1,000.000000 5.541667 4.036409 9.578076 995.963591
M-1 452628AU4 1,000.000000 5.958333 4.036409 9.994742 995.963591
M-2 452628AV2 1,000.000000 6.041667 4.036409 10.078076 995.963591
B 452628AW0 1,000.000000 6.041667 4.036409 10.078076 995.963591
PASS-THROUGH RATES
CLASS CURRENT NEXT
A 6.650000% 6.650000%
M-1 7.150000% 7.150000%
M-2 7.250000% 7.250000%
B 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang
MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza
RECORD DATE: January 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: February 27, 1998 FACTOR INFO.: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: February 25, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00%
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
AGGREGATE COLLECTIONS OF NET
INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,711,955.24
AGGREGATE COLLECTIONS OF PRINCIPAL
WITH RESPECT TO THE MORTGAGE LOANS: 1,471,133.62
AGGREGATE COLLECTIONS
WITH RESPECT TO THE MORTGAGE LOANS: 4,183,088.86
CURRENT PERIOD BOND
PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 1,464,555.24
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 1,220,985.99
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO CERTIFICATE HOLDERS: 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE PRIOR UNPAID
INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
AGGREGATE CURRENT
INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE CURRENT INTEREST
SHORTFALL TO CERTIFICATEHOLDERS: 1,276,314.99
CURRENT AGGREGATE
PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 371,624,895.01
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 2,491
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: April 27, 1998
AMOUNT OF PRINCIPAL ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 309.18
AMOUNT OF INTEREST ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 5,304.39
AGGREGATE ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 5,613.57
AMOUNT OF PREPAYMENT INTEREST
SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF COMPENSATING INTERESTS MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE AMOUNT OF
REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT
OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
NUMBER OF MORTGAGE LOANS REPURCHASED
PURSUANT TO THE MORTGAGE LOAN SALE AND
CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS
REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF THE
SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF
THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: March 25, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
PRINCIPAL BALANCE 301,070.15 0.00 0.00 301,070.15
% OF POOL BALANCE 0.0822% 0.0000% 0.0000% 0.0822%
NUMBER OF LOANS 2 0 0 2
PERCENTAGE OF LOANS 0.0811% 0.0000% 0.0000% 0.0811%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 91,480.11
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0250%
NUMBER OF LOANS 0 0 0 1
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0406%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00%
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
AGGREGATE COLLECTIONS OF NET
INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,682,800.86
AGGREGATE COLLECTIONS OF PRINCIPAL
WITH RESPECT TO THE MORTGAGE LOANS: 5,154,222.36
AGGREGATE COLLECTIONS
WITH RESPECT TO THE MORTGAGE LOANS: 7,837,023.22
CURRENT PERIOD BOND
PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 5,149,003.84
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 4,905,726.88
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO CERTIFICATE HOLDERS: 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE PRIOR UNPAID
INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 1,276,314.99
AGGREGATE CURRENT
INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE CURRENT INTEREST
SHORTFALL TO CERTIFICATEHOLDERS: 1,279,508.02
CURRENT AGGREGATE
PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 366,468,988.63
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 2,446
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: March 25, 1998
AMOUNT OF PRINCIPAL ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 1,684.02
AMOUNT OF INTEREST ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 23,875.97
AGGREGATE ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 25,559.99
AMOUNT OF PREPAYMENT INTEREST
SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF COMPENSATING INTERESTS MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE AMOUNT OF
REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT
OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
NUMBER OF MORTGAGE LOANS REPURCHASED
PURSUANT TO THE MORTGAGE LOAN SALE AND
CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS
REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF THE
SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF
THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A 295,678,848.00 294,485,367.25 1,631,939.74 4,195,974.85
M-1 27,982,225.00 27,869,277.30 166,054.44 397,095.41
M-2 24,251,262.00 24,153,373.99 145,926.63 344,149.36
B 14,923,854.00 14,863,615.22 89,801.01 211,784.23
TOTALS 362,836,189.00 361,371,633.76 2,003,721.82 5,149,003.85
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A 5,827,914.59 0.00 0.00 290,289,392.40
M-1 563,149.85 0.00 0.00 27,472,181.89
M-2 490,075.99 0.00 0.00 23,809,224.63
B 301,585.24 0.00 0.00 14,651,830.99
TOTALS 7,182,725.67 0.00 0.00 356,222,629.91
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A 452628AT7 995.963591 5.519298 14.190988 19.710286 981.772603
M-1 452628AU4 995.963591 5.934283 14.190988 20.125271 981.772604
M-2 452628AV2 995.963591 6.017280 14.190988 20.208268 981.772603
B 452628AW0 995.963591 6.017280 14.190988 20.208268 981.772603
PASS-THROUGH RATES
CLASS CURRENT NEXT
A 6.650000% 6.650000%
M-1 7.150000% 7.150000%
M-2 7.250000% 7.250000%
B 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang
MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza
RECORD DATE: February 27, 1998 Irvine, CA 92614
DISTRIBUTION DATE: March 25, 1998 FACTOR INFO.: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A 295,678,848.00 290,289,392.40 1,608,687.05 3,071,207.33
M-1 27,982,225.00 27,472,181.89 163,688.42 290,650.53
M-2 24,251,262.00 23,809,224.63 143,847.40 251,897.13
B 14,923,854.00 14,651,830.99 88,521.48 155,013.62
TOTALS 362,836,189.00 356,222,629.91 2,004,744.35 3,768,768.61
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A 4,679,894.38 0.00 0.00 287,218,185.07
M-1 454,338.95 0.00 0.00 27,181,531.36
M-2 395,744.53 0.00 0.00 23,557,327.50
B 243,535.10 0.00 0.00 14,496,817.37
TOTALS 5,773,512.96 0.00 0.00 352,453,861.30
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A 452628AT7 981.772603 5.440657 10.386970 15.827627 971.385633
M-1 452628AU4 981.772604 5.849729 10.386970 16.236698 971.385634
M-2 452628AV2 981.772603 5.931543 10.386970 16.318513 971.385633
B 452628AW0 981.772603 5.931543 10.386970 16.318513 971.385633
PASS-THROUGH RATES
CLASS CURRENT NEXT
A 6.650000% 6.650000%
M-1 7.150000% 7.150000%
M-2 7.250000% 7.250000%
B 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang
MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DISTRIBUTION DATE: April 27, 1998 FACTOR INFO.: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: April 27, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 260,879,.98
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0719%
NUMBER OF LOANS 0 0 0 2
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0818%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 91,432.75
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0252%
NUMBER OF LOANS 0 0 0 1
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0409%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00%
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
AGGREGATE COLLECTIONS OF NET
INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,668,992.00
AGGREGATE COLLECTIONS OF PRINCIPAL
WITH RESPECT TO THE MORTGAGE LOANS: 3,775,773.49
AGGREGATE COLLECTIONS
WITH RESPECT TO THE MORTGAGE LOANS: 6,444,765.49
CURRENT PERIOD BOND
PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 3,768,768.62
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 3,525,238.69
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO CERTIFICATE HOLDERS: 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE PRIOR UNPAID
INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
AGGREGATE CURRENT
INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE CURRENT INTEREST
SHORTFALL TO CERTIFICATEHOLDERS: 0.00
CURRENT AGGREGATE
PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 362,693,215.14
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 2,446
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: April 27, 1998
AMOUNT OF PRINCIPAL ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF INTEREST ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF PREPAYMENT INTEREST
SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF COMPENSATING INTERESTS MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE AMOUNT OF
REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT
OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
NUMBER OF MORTGAGE LOANS REPURCHASED
PURSUANT TO THE MORTGAGE LOAN SALE AND
CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS
REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF THE
SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF
THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A 295,678,848.00 287,218,185.07 1,591,667.44 4,326,491.59
M-1 27,982,225.00 27,181,531.36 161,956.62 409,447.15
M-2 24,251,262.00 23,557,327.50 142,325.52 354,854.20
B 14,923,854.00 14,496,817.37 87,584.94 218,371.82
TOTALS 362,836,189.00 352,453,861.30 1,983,534.52 5,309,164.76
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A 5,918,159.03 0.00 0.00 282,891,693.48
M-1 571,403.77 0.00 0.00 26,772,084.21
M-2 497,179.72 0.00 0.00 23,202,473.30
B 305,956.76 0.00 0.00 14,278,445.55
TOTALS 7,292,699.28 0.00 0.00 347,144,696.54
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A 452628AT7 971.385633 5.383095 14.632401 20.015497 956.753232
M-1 452628AU4 971.385634 5.787839 14.632401 20.420241 956.753232
M-2 452628AV2 971.385633 5.868788 14.632401 20.501190 971.753232
B 452628AW0 971.385633 5.868788 14.632401 20.501190 971.753232
PASS-THROUGH RATES
CLASS CURRENT NEXT
A 6.650000% 6.650000%
M-1 7.150000% 7.150000%
M-2 7.250000% 7.250000%
B 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang
MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DISTRIBUTION DATE: May 26, 1998 FACTOR INFO.: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: May 26, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
PRINCIPAL BALANCE 937,666.15 171,457.97 0.00 1,109,124.12
% OF POOL BALANCE 0.2624 0.0480% 0.0000% 0.3104%
NUMBER OF LOANS 5 1 0 6
PERCENTAGE OF LOANS 0.2068% 0.0414% 0.0000% 0.2481%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 363,276.11 129,899.32 493,175.43
% OF POOL BALANCE 0.0000% 0.1017% 0.0363% 0.1380%
NUMBER OF LOANS 0 2 1 3
PERCENTAGE OF LOANS 0.0000% 0.0827% 0.0414% 0.1241%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 126,453.48 0.00 760,654.26
% OF POOL BALANCE 0.0000% 0.0354% 0.0000% 0.2128%
NUMBER OF LOANS 0 1 0 6
PERCENTAGE OF LOANS 0.0000% 0.0414% 0.0000% 0.2481%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00%
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
AGGREGATE COLLECTIONS OF NET
INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,597,176.93
AGGREGATE COLLECTIONS OF PRINCIPAL
WITH RESPECT TO THE MORTGAGE LOANS: 5,312,521.18
AGGREGATE COLLECTIONS
WITH RESPECT TO THE MORTGAGE LOANS: 7,909,698.11
CURRENT PERIOD BOND
PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 5,309,164.76
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 5,067,505.28
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO CERTIFICATE HOLDERS: 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE PRIOR UNPAID
INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
AGGREGATE CURRENT
INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE CURRENT INTEREST
SHORTFALL TO CERTIFICATEHOLDERS: (0.01)
CURRENT AGGREGATE
PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 357,377,029.78
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 2,418
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: May 26, 1998
AMOUNT OF PRINCIPAL ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 3,664.18
AMOUNT OF INTEREST ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 43,906.75
AGGREGATE ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 47,570.93
AMOUNT OF PREPAYMENT INTEREST
SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF COMPENSATING INTERESTS MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE AMOUNT OF
REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT
OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
NUMBER OF MORTGAGE LOANS REPURCHASED
PURSUANT TO THE MORTGAGE LOAN SALE AND
CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS
REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF THE
SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF
THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A 295,678,848.00 282,891,693.48 1,567,691.47 5,437,367.77
M-1 27,982,225.00 26,772,084.21 159,517.00 514,577.38
M-2 24,251,262.00 23,202,473.30 140,181.61 445,967.07
B 14,923,854.00 14,278,445.55 86,265.61 274,441.28
TOTALS 362,836,189.00 347,144,696.54 1,953,655.69 6,672,353.50
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A 7,005,059.24 0.00 0.00 277,454,325.71
M-1 674,094.38 0.00 0.00 26,257,506.83
M-2 586,148.68 0.00 0.00 22,756,506.23
B 360,706.89 0.00 0.00 14,004,004.27
TOTALS 8,626,009.19 0.00 0.00 340,472,343.04
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A 452628AT7 956.753232 5.302008 18.389438 23.691445 938.363794
M-1 452628AU4 956.753232 5.700655 18.389438 24.090092 938.363795
M-2 452628AV2 956.753232 5.780384 18.389438 24.169822 938.363794
B 452628AW0 956.753232 5.780384 18.389437 24.169822 938.363795
PASS-THROUGH RATES
CLASS CURRENT NEXT
A 6.650000% 6.650000%
M-1 7.150000% 7.150000%
M-2 7.250000% 7.250000%
B 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang
MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza
RECORD DATE: May 29, 1998 Irvine, CA 92614
DISTRIBUTION DATE: June 25, 1998 FACTOR INFO.: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: June 25, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS
INFORMATION DAYS DAYS DAYS TOTAL
PRINCIPAL BALANCE 708,554.51 518,309.06 0.00 1,226,863.57
% OF POOL BALANCE 0.2020 0.1478% 0.0000% 0.3498%
NUMBER OF LOANS 5 2 0 7
PERCENTAGE OF LOANS 0.2098% 0.0839% 0.0000% 0.2937%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 230,901.73 492,891.81 723,793.54
% OF POOL BALANCE 0.0000% 0.0658% 0.1405% 0.2064%
NUMBER OF LOANS 0 2 3 5
PERCENTAGE OF LOANS 0.0000% 0.0839% 0.1259% 0.2098%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 123,223.83 126,385.91 1,148,584.11
% OF POOL BALANCE 0.0000% 0.0351% 0.0360% 0.3275%
NUMBER OF LOANS 0 1 1 10
PERCENTAGE OF LOANS 0.0000% 0.0420% 0.0420% 0.4196%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00%
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BOOK VALUE OF REO PROPERTY: 0.00
AGGREGATE COLLECTIONS OF NET
INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,542,954.90
AGGREGATE COLLECTIONS OF PRINCIPAL
WITH RESPECT TO THE MORTGAGE LOANS: 6,674,664.20
AGGREGATE COLLECTIONS
WITH RESPECT TO THE MORTGAGE LOANS: 9,217,619.10
CURRENT PERIOD BOND
PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 6,672,353.51
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 6,432,113.55
AGGREGATE PRINCIPAL PREPAYMENTS
INCLUDED IN DISTRIBUTION TO CERTIFICATE HOLDERS: 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE PRIOR UNPAID
INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
AGGREGATE CURRENT
INTEREST SHORTFALL TO BONDHOLDERS: 0.00
AGGREGATE CURRENT INTEREST
SHORTFALL TO CERTIFICATEHOLDERS: 0.00
CURRENT AGGREGATE
PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 350,697,595.03
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 2,383
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Payment Date Statement
Distribution Date: June 25, 1998
AMOUNT OF PRINCIPAL ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 4,770.55
AMOUNT OF INTEREST ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 59,625.85
AGGREGATE ADVANCES MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 64,396.40
AMOUNT OF PREPAYMENT INTEREST
SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AMOUNT OF COMPENSATING INTERESTS MADE
WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
AGGREGATE AMOUNT OF
REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
CUMULATIVE AMOUNT
OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00
NUMBER OF MORTGAGE LOANS REPURCHASED
PURSUANT TO THE MORTGAGE LOAN SALE AND
CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
AGGREGATE NUMBER OF MORTGAGE LOANS
REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF THE
SERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE
LOANS REPURCHASED PURSUANT TO SECTION 3.18 OF
THE SERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
