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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) JANUARY 20, 1999
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IMC HOME EQUITY LOAN OWNER TRUST 1998-6
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
NEW YORK 333-48429-04 13-4027763
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
C/O THE CHASE MANHATTAN BANK
STRUCTURED FINANCE SERVICES
450 WEST 33RD STREET, NEW YORK, NY 10001-2697
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (813) 984-8801
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NO CHANGE
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5. Other Events.
On January 20, 1999 a scheduled distribution was made from the Trust
to holders of the Notes. The information contained in the Trustee's Monthly
Servicing Report for the month of December, 1998 dated January 20, 1999
attached hereto as Exhibit 19 is hereby incorporated by reference.
In addition to the information included in the Trustee's Monthly
Report, the gross servicing compensation paid to the Servicer and Subservicers
for the month of December, 1998 was $264,780.91.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits.
19. Trustee's Monthly Servicing Report for the month of December, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of l934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
By: IMC SECURITIES, INC.,
As Depositor
By: /s/ Thomas G. Middleton
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Thomas G. Middleton
President, Chief Operating Officer,
Assistant Secretary and Director
By: /s/ Stuart D. Marvin
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Stuart D. Marvin
Chief Financial Officer
Dated: January 20, 1999
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EXHIBIT INDEX
Exhibit No. Description Page No.
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19. Trustee's Monthly Servicing Report 6
for the Month of December, 1998.
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EXHIBIT 19
IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1998-6
DISTRIBUTION: 20-Jan-99 PAGE 1
<TABLE>
<CAPTION>
ORIGINAL BEGINNING ENDING OVER- ENDING
NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN
BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
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<C> <C> <C> <C> <C> <C> <C> <C>
700,000,000.00 675,525,982.40 10,933,759.92 3,467,700.04 14,401,459.96 664,592,222.48 7,654,816.89 672,247,039.37
===================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
FACTOR INFORMATION PER $1,000 NOTE RATES
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PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE
DISTRIBUTION DISTRIBUTION BALANCE RATE RATE
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<S> <C> <C> <C> <C>
15.61965703 4.95385720 949.41746069 6.16000% 6.16000%
=================================================================== ================================================
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
THOMAS ROLLAUER
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3881
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
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IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1998-6
DISTRIBUTION: 20-Jan-99 PAGE 2
<TABLE>
<S> <C> <C> <C>
SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 0.00
SECTION 3.08 (2) MONTHLY PAYMENT AMOUNT 14,401,459.96
SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,837,126.02
SECTION 3.08 (4) INSURED PAYMENT 0.00
SECTION 3.08 (7) REALIZED LOSSES 0.00
SECTION 3.08 (8) OVERCOLLATERALIZATION REDUCTION AMOUNT 0.00
PER $1000
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SECTION 3.09 (a)(i) NOTE DISTRIBUTION 14,401,459.96 21.32
SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 794,095.58 1.18
PRINCIPAL PREPAYMENTS 8,302,538.32 12.29
OVERCOLLATERALIZATION INCREASE AMOUNT 1,837,126.02 2.72
RECOVERIES FROM PRIOR PERIODS 0.00 0.00
OTHER 0.00 0.00
SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00
SECTION 3.09 (a)(v) INSURED PAYMENT 0.00
SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 672,247,039.37
ENDING NUMBER OF LOANS OUTSTANDING 11,313
SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 7,654,816.89
OVERCOLLATERALIZATION DEFICIT 0.00
SECTION 3.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 0.00
SECTION 3.09 (a)(x) WEIGHTED AVERAGE COUPON OF THE HOME EQUITY LOANS 10.7448%
SECTION 3.09 (a)(xiii) THREE LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 336,178.17
318,981.77
286,882.37
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
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IMC HOME EQUITY LOAN OWNER TRUST
HOME EQUITY LOAN ASSET-BACKED NOTES
SERIES 1998-6
DISTRIBUTION: 20-Jan-99 PAGE 3
<TABLE>
<CAPTION>
SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
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CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
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<S> <C> <C> <C>
30-59 DAYS 468 26,396,921.25 3.93%
60-89 DAYS 148 9,011,694.49 1.34%
90 + DAYS 203 11,970,060.21 1.78%
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*The number and aggregate principal balances of delinquent mortgage loans includes loans
in foreclosure and bankruptcy
</TABLE>
<TABLE>
<S> <C> <C>
SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 177
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 10,745,925.69
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
IN THE PRIOR MONTH 96
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
THAT WERE COMMENCED IN THE PRIOR MONTH 6,231,741.80
SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 51
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 3,090,982.40
SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 2953
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 200,570,462.36
SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 0.00
SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY 0
SECTION 3.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00
ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH) 0.00000000%
SECTION 3.09 (b)(vii) 60+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 1.87960533%
60+ DELINQUENT LOANS 20,981,754.70
</TABLE>
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
