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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): September 25, 1998
IMPERIAL CMB TRUST SERIES 1998-1
(as issuer under the Indenture, dated as of January 29, 1998,
providing for the issuance of Collateralized 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
September 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
November 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: December 8, 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 September 25, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of October 26, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 1998.
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 295,678,848.00 265,640,702.56 1,472,092.23 8,420,600.77 9,
>892,693.00 0.00 0.00 257,220,101.79
M-1 27,982,225.00 25,139,498.35 149,789.51 796,902.27
>946,691.78 0.00 0.00 24,342,596.08
M-2 24,251,262.00 21,787,565.53 131,633.21 690,648.64
>822,281.85 0.00 0.00 21,096,916.89
B 14,923,854.00 13,407,733.05 81,005.05 425,014.56
>506,019.61 0.00 0.00 12,982,718.49
TOTALS 362,836,189.00 325,975,499.49 1,834,520.00 10,333,166.24 12,
>167,686.24 0.00 0.00 315,642,333.25
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 452628AT7 898.409556 4.978686 28.478874
> 33.457561 869.930682 6.650000% 6.650000%
M-1 452628AU4 898.409556 5.353024 28.478874
> 33.831898 869.930682 7.150000% 7.150000%
M-2 452628AV2 898.409556 5.427891 28.478874
> 33.906765 869.930682 7.250000% 7.250000%
B 452628AW0 898.409556 5.427891 28.478874
> 33.906765 869.930682 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: IMPAC
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
C-1 4,663,704.00 4,641,250.41 33,669.28 3,345.76
> 37,015.04 0.00 0.00 4,637,904.65
C-2 2,238,578.00 2,227,800.27 16,161.25 1,605.97
> 17,767.22 0.00 0.00 2,226,194.30
C-3 3,357,867.00 3,341,700.41 24,241.88 2,408.95
> 26,650.83 0.00 0.00 3,339,291.46
X 362,836,189.00 325,975,499.49 508,955.39 0.00
>508,955.39 0.00 0.00 315,642,333.25
TOTALS 373,096,338.00 336,186,250.58 583,027.80 7,360.68
>590,388.48 0.00 0.00 325,845,723.66
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
C-1 IMB9801C1 995.185460 7.219429 0.717405
> 7.936834 994.468056 8.605467% 8.606559%
C-2 IMB9801C2 995.185457 7.219427 0.717405
> 7.936832 994.468051 8.605467% 8.606559%
C-3 IMB9801C3 995.185459 7.219428 0.717405
> 7.936833 994.468054 8.605467% 8.606559%
X IMB9801XX 898.409556 1.402714 0.000000
> 1.402714 869.930682 1.852125% 1.853217%
SELLER: IMH Assets Corp ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: IMPAC
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 1
> (c) COPYRIGHT 1998 Bankers Trust Company
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> September 25, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 1,544,714. 118,357.10 0.00 1,663,071.4
>
> PERCENTAGE OF POOL BALA
>NCE 0.4741% 0.0363% 0.0000% 0.5104%
>
> NUMBER OF LOANS
> 10 1 0 11
>
> PERCENTAGE OF LOANS
> 0.4448% 0.0445% 0.0000% 0.4893%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 496,461.14 1,542,162.01 2,038,623.1
>
> PERCENTAGE OF POOL BALA
>NCE 0.0000% 0.1524% 0.4733% 0.6256%
>
> NUMBER OF LOANS
> 0 3 10 13
>
> PERCENTAGE OF LOANS
> 0.0000% 0.1335% 0.4448% 0.5783%
>
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 126,180.01 2,541,281.8
>
> PERCENTAGE OF POOL BALA
>NCE 0.0000% 0.0000% 0.0387% 0.7799%
>
> NUMBER OF LOANS
> 0 0 1 22
>
> PERCENTAGE OF LOANS
> 0.0000% 0.0000% 0.0445% 0.9786%
>
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 PROPE
>RTY: 0.00
>
> AGGREGATE COLLECTIONS O
>F NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,381,163.7
>
> AGGREGATE COLLECTIONS O
>F PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 10,333,880.
>
> AGGREGATE COLLECTIONS W
>ITH RESPECT TO THE MORTGAGE LOANS: 12,715,044.
>
> CURRENT PERIOD BOND PRI
>NCIPAL DISTRIBUTION AMOUNT PAYABLE: 10,333,166.
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 10,098,178.79
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS 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 INTER
>EST SHORTFALL TO BONDHOLDERS: 0.00
>
> AGGREGATE CURRENT INTER
>EST SHORTFALL TO CERTIFICATEHOLDERS: (0.01)
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS: 325,845,723
>
> AGGREGATE NUMBER OF THE
> MORTGAGE LOANS IN POOL: 2,248
>
>
> Page 2 of 3 COPYRIGHT 1998 B
>
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> September 25, 1998
> AMOUNT OF PRINCIPAL ADV
>ANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 6,646.64
>
> AMOUNT OF INTEREST ADVA
>NCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 65,661.95
>
> AGGREGATE ADVANCES MADE
> WITH RESPECT TO THE RELATED PAYMENT DATE: 72,308.59
>
> AMOUNT OF PREPAYMENT IN
>TEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AMOUNT OF COMPENSATING
>INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE AMOUNT OF REA
>LIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
>
> CUMULATIVE AMOUNT OF RE
>ALIZED LOSSES SINCE THE CLOSING DATE: 0.00
>
> NUMBER OF MORTGAGE LOAN
>S REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
> AND CONT
>RIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
>
> AGGREGATE NUMBER OF MOR
>TGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
> SALE AND
> CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> WEIGHTED AVERAGE MONTH
>S TO MATURITY 338
>
>
> Page 3 of 3 (c) COPYRIGHT 1998
>
ankers Trust Company
ankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 295,678,848.00 257,220,101.79 1,425,428.06 5,798,158.97 7,
>223,587.03 0.00 0.00 251,421,942.82
M-1 27,982,225.00 24,342,596.08 145,041.30 548,721.66
>693,762.96 0.00 0.00 23,793,874.42
M-2 24,251,262.00 21,096,916.89 127,460.54 475,558.78
>603,019.32 0.00 0.00 20,621,358.11
B 14,923,854.00 12,982,718.49 78,437.26 292,651.57
>371,088.83 0.00 0.00 12,690,066.92
TOTALS 362,836,189.00 315,642,333.25 1,776,367.16 7,115,090.98 8,
>891,458.14 0.00 0.00 308,527,242.27
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 452628AT7 869.930682 4.820866 19.609651
> 24.430517 850.321031 6.650000% 6.650000%
M-1 452628AU4 869.930682 5.183337 19.609651
> 24.792988 850.321031 7.150000% 7.150000%
M-2 452628AV2 869.930682 5.255831 19.609651
> 24.865482 850.321031 7.250000% 7.250000%
B 452628AW0 869.930682 5.255831 19.609651
> 24.865482 850.321031 7.250000% 7.250000%
SELLER: IMH Assets Corp ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: IMPAC
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
C-1 4,663,704.00 4,637,904.65 33,561.13 3,404.20
> 36,965.33 0.00 0.00 4,634,500.45
C-2 2,238,578.00 2,226,194.30 16,109.34 1,634.01
> 17,743.35 0.00 0.00 2,224,560.29
C-3 3,357,867.00 3,339,291.46 24,164.01 2,451.02
> 26,615.03 0.00 0.00 3,336,840.44
X 362,836,189.00 315,642,333.25 491,820.68 0.00
>491,820.68 0.00 0.00 308,527,242.27
TOTALS 373,096,338.00 325,845,723.66 565,655.16 7,489.23
>573,144.39 0.00 0.00 318,723,143.45
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
C-1 IMB9801C1 994.468056 7.196239 0.729934
> 7.926173 993.738121 8.606559% 8.607073%
C-2 IMB9801C2 994.468051 7.196238 0.729934
> 7.926172 993.738119 8.606559% 8.607073%
C-3 IMB9801C3 994.468054 7.196238 0.729934
> 7.926172 993.738120 8.606559% 8.607073%
X IMB9801XX 869.930682 1.355490 0.000000
> 1.355490 850.321031 1.853217% 1.853731%
SELLER: IMH Assets Corp ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: IMPAC
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 1
> (c) COPYRIGHT 1998 Bankers Trust Company
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> October 26, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 895,274.69 451,943.28 0.00 1,347,217.9
>
> PERCENTAGE OF POOL BALA
>NCE 0.2809% 0.1418% 0.0000% 0.4227%
>
> NUMBER OF LOANS
> 6 3 0 9
>
> PERCENTAGE OF LOANS
> 0.2722% 0.1361% 0.0000% 0.4083%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 86,386.24 383,817.62 1,174,478.26 1,839,541.7
>
> PERCENTAGE OF POOL BALA
>NCE 0.0271% 0.1204% 0.3685% 0.5772%
>
> NUMBER OF LOANS
> 1 2 9 13
>
> PERCENTAGE OF LOANS
> 0.0454% 0.0907% 0.4083% 0.5898%
>
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 131,416.23 0.00 336,272.09 3,206,931.5
>
> PERCENTAGE OF POOL BALA
>NCE 0.0412% 0.0000% 0.1055% 1.0062%
>
> NUMBER OF LOANS
> 1 0 2 27
>
> PERCENTAGE OF LOANS
> 0.0454% 0.0000% 0.0907% 1.2250%
>
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 PROPE
>RTY: 0.00
>
> AGGREGATE COLLECTIONS O
>F NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,307,966.6
>
> AGGREGATE COLLECTIONS O
>F PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 7,117,806.7
>
> AGGREGATE COLLECTIONS W
>ITH RESPECT TO THE MORTGAGE LOANS: 9,425,773.4
>
> CURRENT PERIOD BOND PRI
>NCIPAL DISTRIBUTION AMOUNT PAYABLE: 7,115,090.9
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 6,883,411.3
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS 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 INTER
>EST SHORTFALL TO BONDHOLDERS: 0.00
>
> AGGREGATE CURRENT INTER
>EST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS: 318,723,143
>
> AGGREGATE NUMBER OF THE
> MORTGAGE LOANS IN POOL: 2,204
>
>
> Page 2 of 3 COPYRIGHT 1998
>
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> October 26, 1998
> AMOUNT OF PRINCIPAL ADV
>ANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 4,773.43
>
> AMOUNT OF INTEREST ADVA
>NCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 63,769.78
>
> AGGREGATE ADVANCES MADE
> WITH RESPECT TO THE RELATED PAYMENT DATE: 68,543.21
>
> AMOUNT OF PREPAYMENT IN
>TEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AMOUNT OF COMPENSATING
>INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE AMOUNT OF REA
>LIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
>
> CUMULATIVE AMOUNT OF RE
>ALIZED LOSSES SINCE THE CLOSING DATE: 0.00
>
> NUMBER OF MORTGAGE LOAN
>S REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
> AND CONT
>RIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
>
> AGGREGATE NUMBER OF MOR
>TGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
> SALE AND
> CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> WEIGHTED AVERAGE MONTH
>S TO MATURITY 337
>
>
> Page 3 of 3 COPYRIGHT 1998
>
ankers Trust Company
ankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 295,678,848.00 251,421,942.82 1,393,296.60 11,681,164.25 13,
>074,460.85 0.00 0.00 239,740,778.57
M-1 27,982,225.00 23,793,874.42 141,771.84 1,105,472.94 1,
>247,244.78 0.00 0.00 22,688,401.48
M-2 24,251,262.00 20,621,358.11 124,587.37 958,076.56 1,
>082,663.93 0.00 0.00 19,663,281.55
B 14,923,854.00 12,690,066.92 76,669.15 589,585.60
>666,254.75 0.00 0.00 12,100,481.32
TOTALS 362,836,189.00 308,527,242.27 1,736,324.96 14,334,299.35 16,
>070,624.31 0.00 0.00 294,192,942.92
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 452628AT7 850.321031 4.712196 39.506256
> 44.218452 810.814775 6.650000% 6.650000%
M-1 452628AU4 850.321031 5.066496 39.506256
> 44.572752 810.814775 7.150000% 7.150000%
M-2 452628AV2 850.321031 5.137356 39.506256
> 44.643612 810.814775 7.250000% 7.250000%
B 452628AW0 850.321031 5.137356 39.506256
> 44.643612 810.814775 7.250000% 7.250000%
SELLER: IMH Assets Corp. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: Impac Funding Corp.
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc.
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Imperial CMB Trust Series 1998-1
Collateralized Mortgage Notes
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
C-1 4,663,704.00 4,634,500.45 33,413.73 6,221.16
> 39,634.89 0.00 0.00 4,628,279.29
C-2 2,238,578.00 2,224,560.29 16,038.58 2,986.16
> 19,024.74 0.00 0.00 2,221,574.13
C-3 3,357,867.00 3,336,840.44 24,057.88 4,479.23
> 28,537.11 0.00 0.00 3,332,361.21
X 362,836,189.00 308,527,242.27 479,078.44 0.00
>479,078.44 0.00 0.00 294,192,942.92
TOTALS 373,096,338.00 318,723,143.45 552,588.63 13,686.55
>566,275.18 0.00 0.00 304,375,157.55
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
C-1 IMB9801C1 993.738121 7.164634 1.333952
> 8.498586 992.404168 8.607073% 8.605438%
C-2 IMB9801C2 993.738119 7.164629 1.333952
> 8.498581 992.404165 8.607073% 8.605438%
C-3 IMB9801C3 993.738120 7.164632 1.333952
> 8.498584 992.404169 8.607073% 8.605438%
X IMB9801XX 850.321031 1.320371 0.000000
> 1.320371 810.814775 1.853731% 1.852096%
SELLER: IMH Assets Corp. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: Impac Funding Corp.
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc.
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> November 25, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 1,581,856. 123,617.41 0.00 1,705,473.8
>
> PERCENTAGE OF POOL BALA
>NCE 0.5197% 0.0406% 0.0000% 0.5603%
>
> NUMBER OF LOANS
> 11 1 0 12
>
> PERCENTAGE OF LOANS
> 0.5167% 0.0470% 0.0000% 0.5636%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 82,686.97 279,903.76 864,643.10 1,227,233.8
>
> PERCENTAGE OF POOL BALA
>NCE 0.0272% 0.0920% 0.2841% 0.4032%
>
> NUMBER OF LOANS
> 1 3 7 11
>
> PERCENTAGE OF LOANS
> 0.0470% 0.1409% 0.3288% 0.5167%
>
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 80,032.65 131,336.52 442,313.65 4,123,239.5
>
> PERCENTAGE OF POOL BALA
>NCE 0.0263% 0.0431% 0.1453% 1.3547%
>
> NUMBER OF LOANS
> 1 1 3 35
>
> PERCENTAGE OF LOANS
> 0.0470% 0.0470% 0.1409% 1.6440%
>
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 PROPE
>RTY: 0.00
>
> AGGREGATE COLLECTIONS O
>F NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 2,253,560.88
>
> AGGREGATE COLLECTIONS O
>F PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 14,341,883.98
>
> AGGREGATE COLLECTIONS W
>ITH RESPECT TO THE MORTGAGE LOANS: 16,595,444.86
>
> CURRENT PERIOD BOND PRI
>NCIPAL DISTRIBUTION AMOUNT PAYABLE: 14,334,299.36
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 13,920,145.53
>
> AGGREGATE PRINCIPAL PRE
>PAYMENTS 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 INTER
>EST SHORTFALL TO BONDHOLDERS: 0.00
>
> AGGREGATE CURRENT INTER
>EST SHORTFALL TO CERTIFICATEHOLDERS: 0.00
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS: 304,375,157.37
>
> AGGREGATE NUMBER OF THE
> MORTGAGE LOANS IN POOL: 2,129
>
>
> Page 3 of 4 COPYRIGHT 1998
>
> IMH Assets Corp.
> Imperial CMB Trust Seri
>es 1998-1
> Collateralized Mortgage
> Notes
> Series 1998-1
> Statement to Bondholder
>s
> Distribution Date:
> November 25, 1998
> AMOUNT OF PRINCIPAL ADV
>ANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 6,101.92
>
> AMOUNT OF INTEREST ADVA
>NCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 67,317.04
>
> AGGREGATE ADVANCES MADE
> WITH RESPECT TO THE RELATED PAYMENT DATE: 73,418.96
>
> AMOUNT OF PREPAYMENT IN
>TEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AMOUNT OF COMPENSATING
>INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE AMOUNT OF REA
>LIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00
>
> CUMULATIVE AMOUNT OF RE
>ALIZED LOSSES SINCE THE CLOSING DATE: 0.00
>
> NUMBER OF MORTGAGE LOAN
>S REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE
> AND CONT
>RIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0
>
> AGGREGATE NUMBER OF MOR
>TGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN
> SALE AND
> CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE
> LOAN SAL
>E AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00
>
> AGGREGATE PRINCIPAL BAL
>ANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO SECTION 3.18
> OF THE S
>ERVICING AGREEMENT SINCE THE CLOSING DATE: 0.00
>
> WEIGHTED AVERAGE MONTH
>S TO MATURITY 335
>
> WEIGHTED AVERAGE COUPO
>N 8.9846%
>
> CURRENT MONTHS INTEREST
> EARNINGS 1,906.79
>
>
> Page 4 of 4 COPYRIGHT 1998
>
ankers Trust Company
ankers Trust Company
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