January 21, 1999
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Impac CMB Trust Series 1998-3 Collateralized Asset-Backed
Bonds; File No. 333-38879.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of Impac CMB Trust Series
1998-3 (as issuer under a series 1998-3 Indenture dated as of
June 26, 1998, providing for, among other things, the issuance of
Collateralized Asset-Backed Bonds Series 1998-3) is a Current Report
on Form 8-K.
The Series 1998-3 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 Impac CMB Trust Series 1998-3 (the
"Issuer"), which will be formed pursuant to a Trust Agreement to be
dated as of June 19, 1998 between IMH Assets Corp. (the "Company")
and Wilmington Trust Company, the Owner Trustee (as amended and
restated by the Amended and Restated Trust Agreement dated June 26,
1998, the "Trust Agreement"). The Bonds will be issued pursuant to
an Indenture to be dated as of June 26, 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 Impac CMB Trust Series 1998-3
Collateralized Asset-Backed Bonds Series, 1998-3.
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): July 27, 1998
IMPAC CMB TRUST SERIES 1998-3
(as issuer under the Indenture, dated as of June 26, 1998,
providing for the issuance of Collaterialized Asset-Backed Bonds
Series, 1998-3).
IMPAC CMB TRUST SERIES 1998-3
(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
July 27, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
August 25, 1998.
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
June 26, 1998.
Date: January 21, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders
dated as of July 27, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of August 25, 1998.
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.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 121,835,000.00 121,835,000.00 611,071.67 2,011,737.55 2,
>622,809.22 0.00 0.00 119,823,262.45
M-1 31,441,300.00 31,441,300.00 163,923.09 519,158.24
>683,081.33 0.00 0.00 30,922,141.76
M-2 27,511,100.00 27,511,100.00 148,881.23 454,262.84
>603,144.07 0.00 0.00 27,056,837.16
B 11,299,200.00 11,299,200.00 66,985.56 186,572.21
>253,557.77 0.00 0.00 11,112,627.79
TOTALS 192,086,600.00 192,086,600.00 990,861.55 3,171,730.84 4,
>162,592.39 0.00 0.00 188,914,869.16
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 45254NAK3 1,000.000000 5.015568 16.511984
> 21.527551 983.488016 5.824530% 5.867500%
M-1 45254NAL1 1,000.000000 5.213623 16.511984
> 21.725607 983.488016 6.054530% 6.097500%
M-2 45254NAM9 1,000.000000 5.411679 16.511984
> 21.923662 983.488016 6.284530% 6.327500%
B 45254NAN7 1,000.000000 5.928345 16.511984
> 22.440329 983.488016 6.884530% 6.927500%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Cindy Tsang
MASTER SERVICER: ICI Funding Corporation
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: June 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: July 27, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
CERTIFICATES 0.00 0.00 360,779.78 0.00
>360,779.78 0.00 0.00 0.00
TOTALS 0.00 0.00 360,779.78 0.00
>360,779.78 0.00 0.00 0.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
CERTIFICATES 0.000000 1.878214 0.000000
> 1.878214 0.000000 0.000000% 0.000000%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Cindy Tsang
MASTER SERVICER: ICI Funding Corporation
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: June 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: July 27, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 1
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: July 27, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 6
>0 TO 89 90 PLUS
INFORMATION DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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
PERCENTAGE 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 1,069,221.14
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0000% 0.0000% 0.5530%
NUMBER OF LOANS 0
> 0 0 7
PERCENTAGE OF LOANS 0.0000%
> 0.0000% 0.0000% 0.5011%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 BOOK VALUE
> 0.00
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS:
> 1,015,052.45
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS:
> 3,143,290.62
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS:
> 4,158,343.07
CURRENT PERIOD INTEREST REMITTANCE AMOUNT PAYABLE TO THE BONDHOLDERS:
> 1,351,641.33
CURRENT PERIOD PRINCIPAL DISTRIBUTION AMOUNT PAYABLE TO THE BONDHOLDERS:
> 3,171,730.84
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW PAYABLE TO THE BONDHOLDERS:
> 0.00
CURRENT PERIOD CARRY FORWARD AMOUNT:
> 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL:
> 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS:
> 193,336,401.83
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL:
> 1,397
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE:
> 8.2540%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY:
> 352
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: July 27, 1998
CURRENT PERIOD REQUIRED OVERCOLLATERALIZATION AMOUNT:
> 4,421,432.99
CURRENT PERIOD OVERCOLLATERALIZATION AMOUNT:
> 4,421,532.67
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW:
> 360,779.78
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 28,440.22
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 338,914.23
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 367,354.45
AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DA
>TE: 978.44
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 978.44
THE AMOUNT OF DISTRIBUTION TO THE TRUST CERTIFICATES
> 360,779.78
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE:
> 14.0000%
AVAILABLE FUNDS INTEREST AMOUNT:
> 1,351,642.71
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE:
> 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE:
> 0.00
CUMULATIVE LOSS PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
ROLLING DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SA
>LE
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 MORTG
>AGE
LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DAT
>E: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTG
>AGE
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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: July 27, 1998
AGGREGATE PRINCIPAL PREPAYMENTS APPLIED TO EACH CLASS:
CLASS A :
> 1,930,466.20
CLASS M-1 :
> 498,184.98
CLASS M-2 :
> 435,911.26
CLASS B :
> 179,034.95
INTEREST SHORTFALLS APPLIED TO EACH CLASS:
CLASS A :
> 0.00
CLASS M-1 :
> 0.00
CLASS M-2 :
> 0.00
CLASS B :
> 0.00
Page 4 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 121,835,000.00 119,823,262.45 566,356.30 2,619,866.72 3,
>186,223.02 0.00 0.00 117,203,395.73
M-1 31,441,300.00 30,922,141.76 151,885.70 676,094.85
>827,980.55 0.00 0.00 30,246,046.91
M-2 27,511,100.00 27,056,837.16 137,912.83 591,582.18
>729,495.01 0.00 0.00 26,465,254.98
B 11,299,200.00 11,112,627.79 62,013.87 242,971.22
>304,985.09 0.00 0.00 10,869,656.57
TOTALS 192,086,600.00 188,914,869.16 918,168.70
>4,130,514.97 0.00 0.00 184,784,354.19
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 45254NAK3 983.488016 4.648552 21.503400
> 26.151952 961.984616 5.867500% 5.867500%
M-1 45254NAL1 983.488016 4.830770 21.503400
>26.334170 961.984616 6.097500% 6.097500%
M-2 45254NAM9 983.488016 5.012989 21.503400
>26.516388 961.984616 6.327500% 6.327500%
B 45254NAN7 983.488016 5.488342 21.503400
>26.991742 961.984616 6.927500% 6.927500%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
CERTIFICATES 0.00 0.00 429,469.53 0.00
>429,469.53 0.00 0.00 0.00
TOTALS 0.00 0.00 429,469.53 0.00
>429,469.53 0.00 0.00 0.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
CERTIFICATES 0.000000 2.235812 0.000000
> 2.235812 0.000000 0.000000% 0.000000%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> Bankers Trust Co. of California, NA
CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 1
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: August 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 6
>0 TO 89 90 PLUS
INFORMATION DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE 7,110,438.63
>459,748.25 106,802.74 7,676,989.62
PERCENTAGE OF POOL BALANCE 3.7580%
> 0.2430% 0.0564% 4.0575%
NUMBER OF LOANS 58
> 6 1 65
PERCENTAGE OF LOANS 4.2429%
> 0.4389% 0.0732% 4.7549%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 131,133.47
> 0.00 0.00 983,783.58
PERCENTAGE OF POOL BALANCE 0.0693%
> 0.0000% 0.0000% 0.5200%
NUMBER OF LOANS 1
> 0 0 7
PERCENTAGE OF LOANS 0.0732%
> 0.0000% 0.0000% 0.5121%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 BOOK VALUE
> 0.00
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS:
> 1,015,240.55
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS:
> 4,103,681.87
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS:
> 5,118,922.42
CURRENT PERIOD INTEREST REMITTANCE AMOUNT PAYABLE TO THE BONDHOLDERS:
> 1,347,638.23
CURRENT PERIOD PRINCIPAL DISTRIBUTION AMOUNT PAYABLE TO THE BONDHOLDERS:
> 4,130,514.97
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW PAYABLE TO THE BONDHOLDERS:
> 0.00
CURRENT PERIOD CARRY FORWARD AMOUNT:
> 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL:
> 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS:
> 189,205,886.86
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL:
> 1,367
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE:
> 8.3645%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY:
> 351
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: August 25, 1998
CURRENT PERIOD REQUIRED OVERCOLLATERALIZATION AMOUNT:
> 4,421,432.99
CURRENT PERIOD OVERCOLLATERALIZATION AMOUNT:
> 4,421,532.67
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW:
> 429,469.53
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 26,833.10
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 334,685.49
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 361,518.59
AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DA
>TE: 12,797.14
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 12,797.14
THE AMOUNT OF DISTRIBUTION TO THE TRUST CERTIFICATES
> 429,469.53
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE:
> 14.0000%
AVAILABLE FUNDS INTEREST AMOUNT:
> 1,347,642.42
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE:
> 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE:
> 0.00
CUMULATIVE LOSS PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.2994%
ROLLING DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.2994%
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SA
>LE
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 MORTG
>AGE
LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DAT
>E: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTG
>AGE
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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: August 25, 1998
AGGREGATE PRINCIPAL PREPAYMENTS APPLIED TO EACH CLASS:
CLASS A :
> 2,541,598.73
CLASS M-1 :
> 655,896.65
CLASS M-2 :
> 573,908.79
CLASS B :
> 235,712.50
INTEREST SHORTFALLS APPLIED TO EACH CLASS:
CLASS A :
> 0.00
CLASS M-1 :
> 0.00
CLASS M-2 :
> 0.00
CLASS B :
> 0.00
AGGREGATE NUMBER OF CONDO SELECT LOANS IN POOL:
> 96.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF "CONDO SELECT LOANS:
> 5,871,459.68
Page 4 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 121,835,000.00 117,203,395.73 592,178.30 3,817,656.80 4,
>409,835.10 0.00 0.00 113,385,738.93
M-1 31,441,300.00 30,246,046.91 158,810.65 985,202.06 1,
>144,012.71 0.00 0.00 29,260,844.85
M-2 27,511,100.00 26,465,254.98 144,200.72 862,050.63 1,
>006,251.35 0.00 0.00 25,603,204.35
B 11,299,200.00 10,869,656.57 64,841.28 354,056.45
>418,897.73 0.00 0.00 10,515,600.12
TOTALS 192,086,600.00 184,784,354.19 960,030.95 6,018,965.93 6,
>978,996.88 0.00 0.00 178,765,388.25
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 45254NAK3 961.984616 4.860494 31.334648
> 36.195142 930.649969 5.867500% 5.867500%
M-1 45254NAL1 961.984616 5.051020 31.334648
> 36.385668 930.649968 6.097500% 6.097500%
M-2 45254NAM9 961.984616 5.241547 31.334648
> 36.576195 930.649969 6.327500% 6.327500%
B 45254NAN7 961.984616 5.738573 31.334648
> 37.073220 930.649968 6.927500% 6.927500%
THIS STATEMENT IS ALSO AVAILABLE ON BANKERS TRUST'S WEBSITE, WWW
>.ONLINE.
BANKERSTRUST.COM/INVR/. WE BEGIN POSTING STATEMENTS TO THE WEB
> AT 7:00 PM
EASTERN TIME ON THE BUSINESS DAY BEFORE EACH DISTRIBUTION DATE.
>
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
CERTIFICATES 0.00 0.00 363,242.41 0.00
>363,242.41 0.00 0.00 0.00
TOTALS 0.00 0.00 363,242.41 0.00
>363,242.41 0.00 0.00 0.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
CERTIFICATES 0.000000 1.891035 0.000000
> 1.891035 0.000000 0.000000% 0.000000%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: September 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 6
>0 TO 89 90 PLUS
INFORMATION DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE 6,732,568.05 1,
>896,461.76 0.00 8,629,029.81
PERCENTAGE OF POOL BALANCE 3.6752%
> 1.0353% 0.0000% 4.7105%
NUMBER OF LOANS 51
> 22 0 73
PERCENTAGE OF LOANS 3.8520%
> 1.6616% 0.0000% 5.5136%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
>160,142.13 106,766.17 266,908.30
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0874% 0.0583% 0.1457%
NUMBER OF LOANS 0
> 3 1 4
PERCENTAGE OF LOANS 0.0000%
> 0.2266% 0.0755% 0.3021%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 46,910.76
> 0.00 0.00 1,138,047.27
PERCENTAGE OF POOL BALANCE 0.0256%
> 0.0000% 0.0000% 0.6212%
NUMBER OF LOANS 1
> 0 0 9
PERCENTAGE OF LOANS 0.0755%
> 0.0000% 0.0000% 0.6798%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 BOOK VALUE
> 0.00
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS:
> 1,016,257.32
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS:
> 5,994,421.54
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS:
> 7,010,678.86
CURRENT PERIOD INTEREST REMITTANCE AMOUNT PAYABLE TO THE BONDHOLDERS:
> 1,323,273.36
CURRENT PERIOD PRINCIPAL DISTRIBUTION AMOUNT PAYABLE TO THE BONDHOLDERS:
> 6,018,965.93
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW PAYABLE TO THE BONDHOLDERS:
> 0.00
CURRENT PERIOD CARRY FORWARD AMOUNT:
> 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL:
> 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS:
> 183,186,920.93
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL:
> 1,324
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE:
> 8.3926%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY:
> 350
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: September 25, 1998
CURRENT PERIOD REQUIRED OVERCOLLATERALIZATION AMOUNT:
> 4,421,432.99
CURRENT PERIOD OVERCOLLATERALIZATION AMOUNT:
> 4,421,532.67
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW:
> 363,242.41
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 24,544.39
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 309,254.98
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 333,799.37
AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DA
>TE: 18,470.30
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 18,470.30
THE AMOUNT OF DISTRIBUTION TO THE TRUST CERTIFICATES
> 363,242.41
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE:
> 14.0000%
AVAILABLE FUNDS INTEREST AMOUNT:
> 1,323,277.54
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE:
> 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE:
> 0.00
CUMULATIVE LOSS PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 1.1810%
ROLLING DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.7402%
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SA
>LE
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 MORTG
>AGE
LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DAT
>E: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTG
>AGE
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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: September 25, 1998
AGGREGATE PRINCIPAL PREPAYMENTS APPLIED TO EACH CLASS:
CLASS A :
> 3,741,103.69
CLASS M-1 :
> 965,446.41
CLASS M-2 :
> 844,764.46
CLASS B :
> 346,956.78
INTEREST SHORTFALLS APPLIED TO EACH CLASS:
CLASS A :
> 0.00
CLASS M-1 :
> 0.00
CLASS M-2 :
> 0.00
CLASS B :
> 0.00
AGGREGATE NUMBER OF CONDO SELECT LOANS IN POOL:
> 88.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF "CONDO SELECT LOANS:
> 4,721,047.80
Page 4 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 121,835,000.00 113,385,738.93 572,889.32 3,492,332.50 4,
>065,221.82 0.00 0.00 109,893,406.43
M-1 31,441,300.00 29,260,844.85 153,637.72 901,247.37 1,
>054,885.09 0.00 0.00 28,359,597.48
M-2 27,511,100.00 25,603,204.35 139,503.68 788,590.38
>928,094.06 0.00 0.00 24,814,613.97
B 11,299,200.00 10,515,600.12 62,729.21 323,885.28
>386,614.49 0.00 0.00 10,191,714.84
TOTALS 192,086,600.00 178,765,388.25 928,759.93 5,506,055.53 6,
>434,815.46 0.00 0.00 173,259,332.72
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 45254NAK3 930.649969 4.702174 28.664444
> 33.366617 901.985525 5.867500% 5.867500%
M-1 45254NAL1 930.649968 4.886494 28.664444
> 33.550938 901.985525 6.097500% 6.097500%
M-2 45254NAM9 930.649969 5.070814 28.664444
> 33.735258 901.985525 6.327500% 6.327500%
B 45254NAN7 930.649968 5.551651 28.664444
> 34.216094 901.985525 6.927500% 6.927500%
THIS STATEMENT IS ALSO AVAILABLE ON BANKERS TRUST'S WEBSITE, WWW
>.ONLINE.
BANKERSTRUST.COM/INVR/. WE BEGIN POSTING STATEMENTS TO THE WEB
> AT 7:00 PM
EASTERN TIME ON THE BUSINESS DAY BEFORE EACH DISTRIBUTION DATE.
>
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
CERTIFICATES 0.00 0.00 358,386.40 0.00
>358,386.40 0.00 0.00 0.00
TOTALS 0.00 0.00 358,386.40 0.00
>358,386.40 0.00 0.00 0.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
CERTIFICATES 0.000000 1.865754 0.000000
> 1.865754 0.000000 0.000000% 0.000000%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: October 26, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 6
>0 TO 89 90 PLUS
INFORMATION DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE 3,179,540.22 3,
>693,721.22 845,210.54 7,718,471.98
PERCENTAGE OF POOL BALANCE 1.7895%
> 2.0789% 0.4757% 4.3440%
NUMBER OF LOANS 35
> 23 10 68
PERCENTAGE OF LOANS 2.7259%
> 1.7913% 0.7788% 5.2960%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 210,940.31 210,940.31
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0000% 0.1187% 0.1187%
NUMBER OF LOANS 0
> 0 3 3
PERCENTAGE OF LOANS 0.0000%
> 0.0000% 0.2336% 0.2336%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 46,892.28 85,650.51 1,169,501.53
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0264% 0.0482% 0.6582%
NUMBER OF LOANS 0
> 1 2 12
PERCENTAGE OF LOANS 0.0000%
> 0.0779% 0.1558% 0.9346%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 BOOK VALUE
> 0.00
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS:
> 997,153.78
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS:
> 5,482,846.80
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS:
> 6,480,000.58
CURRENT PERIOD INTEREST REMITTANCE AMOUNT PAYABLE TO THE BONDHOLDERS:
> 1,287,146.33
CURRENT PERIOD PRINCIPAL DISTRIBUTION AMOUNT PAYABLE TO THE BONDHOLDERS:
> 5,506,055.53
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW PAYABLE TO THE BONDHOLDERS:
> 0.00
CURRENT PERIOD CARRY FORWARD AMOUNT:
> 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL:
> 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS:
> 177,680,865.40
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL:
> 1,284
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE:
> 8.4317%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY:
> 349
Page 2 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: October 26, 1998
CURRENT PERIOD REQUIRED OVERCOLLATERALIZATION AMOUNT:
> 4,421,432.99
CURRENT PERIOD OVERCOLLATERALIZATION AMOUNT:
> 4,421,532.68
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW:
> 358,386.40
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 23,208.73
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 292,160.26
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 315,368.99
AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DA
>TE: 18,675.48
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 18,675.48
THE AMOUNT OF DISTRIBUTION TO THE TRUST CERTIFICATES
> 358,386.40
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE:
> 14.0000%
AVAILABLE FUNDS INTEREST AMOUNT:
> 1,287,150.51
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE:
> 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE:
> 0.00
CUMULATIVE LOSS PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 2.7479%
ROLLING DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 1.4094%
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SA
>LE
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 MORTG
>AGE
LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DAT
>E: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTG
>AGE
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 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: October 26, 1998
AGGREGATE PRINCIPAL PREPAYMENTS APPLIED TO EACH CLASS:
CLASS A :
> 3,417,832.19
CLASS M-1 :
> 882,021.48
CLASS M-2 :
> 771,767.74
CLASS B :
> 316,975.99
INTEREST SHORTFALLS APPLIED TO EACH CLASS:
CLASS A :
> 0.00
CLASS M-1 :
> 0.00
CLASS M-2 :
> 0.00
CLASS B :
> 0.00
AGGREGATE NUMBER OF CONDO SELECT LOANS IN POOL:
> 71.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF "CONDO SELECT LOANS:
> 3,405,855.39
Page 4 of 4
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement to Bondholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 121,835,000.00 109,893,406.43 532,181.72 3,943,248.22 4,
>475,429.94 0.00 0.00 105,950,158.21
M-1 31,441,300.00 28,359,597.48 142,772.85 1,017,612.76 1,
>160,385.61 0.00 0.00 27,341,984.72
M-2 27,511,100.00 24,814,613.97 129,682.21 890,409.95 1,
>020,092.16 0.00 0.00 23,924,204.02
B 11,299,200.00 10,191,714.84 58,358.18 365,704.03
>424,062.21 0.00 0.00 9,826,010.81
TOTALS 192,086,600.00 173,259,332.72 862,994.96 6,216,974.96 7,
>079,969.92 0.00 0.00 167,042,357.76
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 45254NAK3 901.985525 4.368053 32.365480
> 36.733533 869.620045 5.811250% 5.305000%
M-1 45254NAL1 901.985525 4.540933 32.365480
> 36.906413 869.620045 6.041250% 5.535000%
M-2 45254NAM9 901.985525 4.713814 32.365480
> 37.079294 869.620045 6.271250% 5.765000%
B 45254NAN7 901.985525 5.164806 32.365480
> 37.530286 869.620045 6.871250% 6.365000%
THIS STATEMENT IS ALSO AVAILABLE ON BANKERS TRUST
>'S WEBSITE, WWW.ONLINE.
BANKERSTRUST.COM/INVR/. WE BEGIN POSTING STATEME
>NTS TO THE WEB AT 7:00 PM
EASTERN TIME ON THE BUSINESS DAY BEFORE EACH DIST
>RIBUTION DATE.
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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 5
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Collateralized Mortgage bonds
Series 1998-3
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
CERTIFICATES 0.00 0.00 387,723.43 0.00
>387,723.43 0.00 0.00 0.00
TOTALS 0.00 0.00 387,723.43 0.00
>387,723.43 0.00 0.00 0.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
CERTIFICATES 0.000000 2.018482 0.000000
> 2.018482 0.000000 0.000000% 0.000000%
SELLER: Impac Mortgage Holdings, Inc. ADMI
>NISTRATOR: Jarrod Anderson
MASTER SERVICER: ICI Funding Corporation
> 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 5
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: November 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 6
>0 TO 89 90 PLUS
INFORMATION DAYS
> DAYS DAYS TOTAL
PRINCIPAL BALANCE 4,921,692.06 1,
>142,154.59 2,584,054.92 8,647,901.57
PERCENTAGE OF POOL BALANCE 2.8704%
> 0.6661% 1.5071% 5.0436%
NUMBER OF LOANS 50
> 12 15 77
PERCENTAGE OF LOANS 4.0258%
> 0.9662% 1.2077% 6.1997%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 1,155,075.37 1,512,438.68
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0000% 0.6737% 0.8821%
NUMBER OF LOANS 0
> 0 11 12
PERCENTAGE OF LOANS 0.0000%
> 0.0000% 0.8857% 0.9662%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 132,473.93 1,635,694.56
PERCENTAGE OF POOL BALANCE 0.0000%
> 0.0000% 0.0773% 0.9540%
NUMBER OF LOANS 0
> 0 3 15
PERCENTAGE OF LOANS 0.0000%
> 0.0000% 0.2415% 1.2077%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE 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 BOOK VALUE
> 0.00
AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS:
> 893,159.63
AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS:
> 6,187,247.02
AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS:
> 7,080,406.65
CURRENT PERIOD INTEREST REMITTANCE AMOUNT PAYABLE TO THE BONDHOLDERS:
> 1,250,718.39
CURRENT PERIOD PRINCIPAL DISTRIBUTION AMOUNT PAYABLE TO THE BONDHOLDERS:
> 6,216,974.96
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW PAYABLE TO THE BONDHOLDERS:
> 0.00
CURRENT PERIOD CARRY FORWARD AMOUNT:
> 0.00
AGGREGATE PRIOR UNPAID INTEREST SHORTFALL:
> 0.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS:
> 171,463,890.44
AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL:
> 1,242
CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE:
> 8.4470%
CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY:
> 348
Page 3 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: November 25, 1998
CURRENT PERIOD REQUIRED OVERCOLLATERALIZATION AMOUNT:
> 4,421,432.99
CURRENT PERIOD OVERCOLLATERALIZATION AMOUNT:
> 4,421,532.68
CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW:
> 387,723.43
AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 29,727.94
AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 359,661.32
AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 389,389.26
AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DA
>TE: 21,516.99
AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE:
> 21,516.99
THE AMOUNT OF DISTRIBUTION TO THE TRUST CERTIFICATES
> 387,723.43
MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE:
> 14.0000%
AVAILABLE FUNDS INTEREST AMOUNT:
> 1,250,721.44
AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE:
> 0.00
CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE:
> 0.00
CUMULATIVE LOSS PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 0.0000%
DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 2.9241%
ROLLING DELINQUENCY PERCENTAGE FOR THE RELATED PAYMENT DATE:
> 1.7881%
AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SA
>LE
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 MORTG
>AGE
LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DAT
>E: 0.00
AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTG
>AGE
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 4 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
IMH Assets Corp.
Impac CMB Trust Series 1998-3
Payment Date Statement
Distribution Date: November 25, 1998
AGGREGATE PRINCIPAL PREPAYMENTS APPLIED TO EACH CLASS:
CLASS A :
> 3,870,614.62
CLASS M-1 :
> 998,868.60
CLASS M-2 :
> 874,008.83
CLASS B :
> 358,967.86
INTEREST SHORTFALLS APPLIED TO EACH CLASS:
CLASS A :
> 0.00
CLASS M-1 :
> 0.00
CLASS M-2 :
> 0.00
CLASS B :
> 0.00
AGGREGATE NUMBER OF CONDO SELECT LOANS IN POOL:
> 54.00
CURRENT AGGREGATE PRINCIPAL BALANCE OF "CONDO SELECT LOANS:
> 2,270,580.66
Page 5 of 5
> (c) COPYRIGHT 1998 Bankers Trust Company
