IMC HOME EQUITY LOAN TRUST MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-1 === =============================================================================== ================================================
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IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
==================================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 1
ORIGINAL BEGINNING ENDING ENDING
CERTIFICATE CERTIFICATE PRINCIPAL INTEREST TOTAL CERTIFICATE SUBORDINATE PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE
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A-1 95,086,000.00 83,199,522.47 4,607,636.37 453,437.40 5,061,073.77 78,591,886.10
A-2 31,086,000.00 31,086,000.00 0.00 171,491.10 171,491.10 31,086,000.00
A-3 46,349,000.00 46,349,000.00 0.00 263,416.82 263,416.82 46,349,000.00
A-4 37,517,000.00 37,517,000.00 0.00 222,913.51 222,913.51 37,517,000.00
A-5 10,065,000.00 10,065,000.00 0.00 61,732.00 61,732.00 10,065,000.00
A-6 17,897,000.00 17,897,000.00 0.00 113,049.38 113,049.38 17,897,000.00
A-7 12,000,000.00 12,000,000.00 0.00 71,300.00 71,300.00 12,000,000.00 3,760,367.28 237,266,253.38
A-8 75,000,000.00 70,817,296.31 1,844,031.42 369,351.54 2,213,382.96 68,973,264.89 1,059,126.13 70,032,391.02
R N/A N/A N/A 3,984.15 3,984.15 N/A
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TOTALS 325,000,000.00 308,930,818.78 6,451,667.79 1,730,675.90 8,182,343.69 302,479,150.99 4,819,493.41 307,298,644.40
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FACTOR INFORMATION PER $1,000 PASS THRU RATES
PRINCIPAL INTEREST END. CERT. INIT PASS CURR PASS
CLASS DISTRIBUTION DISTRIBUTION BALANCE CLASS THRU RATE THRU RATE
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A-1 48.45756862 4.76870833 826.53478009 A-1 6.54000000% 6.54000000%
A-2 0.00000000 5.51666667 1000.00000000 A-2 6.62000000% 6.62000000%
A-3 0.00000000 5.68333341 1000.00000000 A-3 6.82000000% 6.82000000%
A-4 0.00000000 5.94166671 1000.00000000 A-4 7.13000000% 7.13000000%
A-5 0.00000000 6.13333333 1000.00000000 A-5 7.36000000% 7.36000000%
A-6 0.00000000 6.31666648 1000.00000000 A-6 7.58000000% 7.58000000%
A-7 0.00000000 5.94166667 1000.00000000 A-7 7.13000000% 7.13000000%
A-8 24.58708560 4.92468720 919.64353187 A-8 5.61750000% 5.86750000%
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TOTALS 19.85128551 2.022875226 930.70508
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IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
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XXX XXXXX XXXX
THE CHASE MANHATTAN BANK - ASPG
000 XXXX 00XX XXXXXX, 00XX XXXXX
XXX XXXX, XXX XXXX 00000
(000) 000-0000
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IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
=============================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 2
GROUP I GROUP II
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SECTION 7.08 (1) BEGINNING CERTIFICATE ACCOUNT 5,974,950.15 2,216,291.27
SECTION 7.08 (2) CLASS A DISTRIBUTION AMOUNT 8,178,359.54
GROUP I GROUP II
SECTION 7.08 (3) SUBORDINATION INCREASE AMOUNT 904,448.36 212,262.46
SECTION 7.08 (4) INSURED PAYMENT 0.00 0.00
SECTION 7.08 (6) BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE 308,930,818.78
CLASS A PRINCIPAL DISTRIBUTION 6,451,667.79
ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE 302,479,150.99
SECTION 7.08 (7) REALIZED LOSSES 0.00
GROUP I GROUP II
SECTION 7.08 (8) SUBORDINATION REDUCTION AMOUNT 0.00 0.00
SECTION 7.08 (9) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
SUBSEQUENT MORTGAGE LOANS 0.00 0.00
(B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
DISTRIBUTION AMOUNT 0.00 0.00
(C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
CAPITALIZED INTEREST ACCOUNT 0.00 0.00
(D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE CERTIFICATE ACCOUNT 0.00
THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
ACCOUNT TO THE DEPOSITOR 0.00
SECTION 7.08 (10) THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED 0.00
DUE TO GROUP I UNDERWATER LOANS
PER $1000
SECTION 7.09 (a)(i) CLASS A-1 DISTRIBUTION 5,061,073.77 53.23
CLASS A-2 DISTRIBUTION 171,491.10 5.52
CLASS A-3 DISTRIBUTION 263,416.82 5.68
CLASS A-4 DISTRIBUTION 222,913.51 5.94
CLASS A-5 DISTRIBUTION 61,732.00 6.13
CLASS A-6 DISTRIBUTION 113,049.38 6.32
CLASS A-7 DISTRIBUTION 71,300.00 5.94
CLASS A-8 DISTRIBUTION 2,213,382.96 29.51
CLASS R DISTRIBUTION 3,984.15
SECTION 7.09 (a)(ii) GROUP I CLASS A PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 88,002.98 0.35
PRINCIPAL PREPAYMENTS 3,615,185.03 14.46
SUBORDINATION INCREASE AMOUNT 904,448.36 3.62
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
GROUP II CLASS A-8 PRINCIPAL DISTRIBUTION
INSTALLMENT PRINCIPAL COLLECTED 27,947.40 0.37
PRINCIPAL PREPAYMENTS 1,603,821.56 21.38
SUBORDINATION INCREASE AMOUNT 212,262.46 2.83
PRIN PREPAY FROM PRE-FUND ACCT 0.00 0.00
OTHER 0.00 0.00
SECTION 7.09 (a)(iv) CLASS A-1 CARRYFORWARD 0.00
CLASS A-2 CARRYFORWARD 0.00
CLASS A-3 CARRYFORWARD 0.00
CLASS A-4 CARRYFORWARD 0.00
CLASS A-5 CARRYFORWARD 0.00
CLASS A-6 CARRYFORWARD 0.00
CLASS A-7 CARRYFORWARD 0.00
CLASS A-8 CARRYFORWARD 0.00
0.00
SECTION 7.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00
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IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
====================================================================================================================================
DISTRIBUTION: 27-May-97 PAGE # 3
GROUP I GROUP II
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SECTION 7.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 237,266,253.38 70,032,391.02
ENDING NUMBER OF LOANS 4,060 652
ENDING CERTIFICATE BALANCE: PER $1000
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CLASS A-1 78,591,886.10 826.5347801
CLASS A-2 31,086,000.00 1000
CLASS A-3 46,349,000.00 1000
CLASS A-4 37,517,000.00 1000
CLASS A-5 10,065,000.00 1000
CLASS A-6 17,897,000.00 1000
CLASS A-7 12,000,000.00 1000
CLASS A-8 68,973,264.89 919.6435319
GROUP I GROUP II
SECTION 7.09 (a)(vii) SUBORDINATED AMOUNT 3,760,367.28 1,059,126.13
SUBORDINATION DEFICIT 0.00 0.00
0.00
SECTION 7.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00
LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION
SECTION 7.09 (a)(x) WEIGHTED AVERAGE COUPON RATE 11.900300% 10.272400%
SECTION 7.09 (a)(xii) WEIGHTED GROSS MARGIN OF THE HOME EQUITY LOANS IN
GROUP II 6.275400%
SECTION 7.09 (a)(xiii) LARGEST MORTGAGE LOAN BALANCE OUTSTANDING 374,674.17 612,344.10
SECTION 7.09 (a)(xiv) REMAINING PRE-FUNDED AMOUNT 0.00 0.00
SECTION 7.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF
DELINQUENT MORTGAGE LOANS:*
GROUP I
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CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
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30-59 DAYS 134 7,744,362.20 3.26%
60-89 DAYS 49 2,739,841.74 1.15%
90 + DAYS 90 5,959,497.64 2.51%
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GROUP II
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CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
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30-59 DAYS 24 2,146,419.40 0.90%
60-89 DAYS 4 549,151.58 0.23%
90 + DAYS 16 1,411,164.65 0.59%
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AGGREGATE
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CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE
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30-59 DAYS 158 9,890,781.60 4.17%
60-89 DAYS 53 3,288,993.32 1.39%
90 + DAYS 106 7,370,662.29 3.11%
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*The number and aggrgate principal balance of delinquent
loans includes loans in foreclosure and bankruptcy
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IMC HOME EQUITY LOAN TRUST
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1997-1
====================================================================================================================================
PAGE # 4
DISTRIBUTION: 27-May-97
GROUP I GROUP II TOTAL
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SECTION 7.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 30 6 36
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,825,850.44 414,927.99 2,240,778.43
NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 28 6 34
IN THE PRIOR MONTH
AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 1,753,940.70 414,927.99 2,168,868.69
THAT WERE COMMENCED IN THE PRIOR MONTH
SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 22 4 26
AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,602,675.78 329,583.82 1,932,259.60
NUMBER OF LOANS THAT ARE "BALLOON" LOANS 1,431 1 1,432
AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 104,037,279.35 270,871.70 104,308,151.05
SECTION 7.09 (b)(iv) NUMBER OF REO PROPERTIES
0 0 0
AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES
0.00 0.00
SECTION 7.09 (b)(v) BOOK VALUE OF REO PROPERTY
0.00 0.00 0.00
SECTION 7.09 (b)(vi) CUMULATIVE LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
CUMULATIVE REALIZED LOSSES 0.00 0.00 0.00
CURRENT PERIOD REALIZED LOSSES 0.00 0.00 0.00
ANNUAL LOSS PERCENTAGE 0.00000000% 0.00000000% 0.00000000%
SECTION 7.09 (b)(vii) 90 + DELINQUENCY PERCENTAGE 1.47781301% 1.11321636% 1.43287412%
