Exhibit 99.1
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IMC HOME EQUITY LOAN TRUST 1998-3
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PAINEWEBBER INCORPORATED
PRELIMINARY BACKGROUND INFORMATION
IMC HOME EQUITY LOAN TRUST 1998-3
DISCLAIMER
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The information included herein is produced and provided exclusively by
PaineWebber Incorporated ("PW") as underwriter for the IMC Home Equity Loan
Trust 1998-3, and not by or as agent for IMC Mortgage Company, L.P.
(collectively, the "Seller and Servicer"), IMC Securities, Inc. (the
"Depositor") or any of their affiliates. None of the Depositor, the Seller or
the Servicer has prepared, reviewed or participated in the preparation hereof
and is not responsible for the accuracy hereof. The analysis in this report is
accurate to the best of PW's knowledge and is based on information provided by
the Depositor, Seller and Servicer. PW makes no representations as to the
accuracy of such information provided by the Depositor, Seller and Servicer.
The information herein is preliminary, and will be superseded by the applicable
prospectus supplement and prospectus and by any other information subsequently
filed with the Securities and Exchange Commission.
All opinions and conclusions in this report reflect PW's judgment as of this
date and are subject to change. All analyses are based on certain assumptions
noted herein and different assumptions could yield substantially different
results. You are cautioned that there is no universally accepted method for
analyzing financial instruments. You should review the assumptions; there may be
differences between these assumptions and your actual business practices.
Further, PW does not guarantee any results and there is no guarantee as to the
liquidity of the instruments involved in this analysis. The decision to adopt
any strategy remains your responsibility. PW (or any of its affiliates) or their
officers, directors, analysts or employees may have positions in securities,
commodities or derivative instruments thereon referred to herein, and may, as
principal or agent, buy or sell such securities, commodities or derivative
instruments. In addition, PW may make a market in the securities referred to
herein. Neither the information nor the opinions expressed shall be construed to
be, or constitute, an offer to sell or buy or a solicitation of an offer to sell
or buy any securities, commodities or derivative instruments mentioned herein.
Finally, PW has not addressed the legal, accounting and tax implications of the
analysis with respect to you and PW strongly urges you to seek advice from your
counsel, accountant and tax advisor.
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IMC HOME EQUITY LOAN TRUST 1998-3
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|---------------------------------------------------------------------------|
| THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE |
| DESCRIPTION OF THE COLLATERAL CONTAINED IN THE PROSPECTUS |
| SUPPLEMENT. |
|---------------------------------------------------------------------------|
FIXED RATE HOME EQUITY LOANS
Preliminary characteristics of the pool of Home Equity Loans as of the
Statistical Calculation Date of 5/5/98:
Total Number of Loans: 11,063
Total Outstanding Loan Balance: $731,071,895
Balloon (% of Total): 31.17%
Level Pay (% of Total): 68.83%
Average Loan Principal Balance: $66,083 ($5,008 to $556,223)
Weighted Average CLTV: 76.67% (5.71% to 100.00%)
% of Pool with CLTVs (greater than) 90% 3.13%
Weighted Average Coupon: 10.86% (6.49% to 19.15%)
Weighted Average Remaining Term to Maturity (months): 254 (50 to 360)
Weighted Average Seasoning (months): 3 (0 to 40)
Weighted Average Original Term (months): 257 (60 to 360)
Range of Original Terms: Level Pay Balloon
----------------------- ------------------------
Up to 60: 0.11% Up to 60: 0.05%
61 - 120: 1.79% 61 - 120: 0.09%
121 - 180: 16.89% 121 - 180: 31.03%
181 - 240: 8.90%
241 - 300: 1.23%
301 - 360: 39.90%
Lien Position: 1st Lien: 85.48%
2nd Lien: 14.52%
Property Type: Single Family Detached: 89.75%
Single Family Attached: 0.87%
2-4 Family: 7.10%
Condominium/Townhouse: 1.23%
Other: 1.05%
Occupancy Status: Owner Occupied: 94.61%
Non-Owner Occupied: 5.39%
Geographic Distribution: NY: 14.90% CA: 5.34%
(states not listed individually account MI: 8.27% OH: 5.27
for less than 5.00% of the Mortgage FL: 7.94% PA: 5.26
Loan principal balance) NJ: 5.84%
Credit Quality: A: 55.70%
(per IMC's guidelines) B: 24.29%
C: 16.84%
D: 3.17%
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IMC HOME EQUITY LOAN TRUST 1998-3
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PRICING INFORMATION
$1,000,000,000 Offering Amount (approximate)
FSA Bond Insured
TRANSACTION SUMMARY(a)
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First
Principal Principal Expected
Approximate WAL Payment Window Stated Ratings
Certificate Size Coupon(d) (Years) (Years) (Years) Maturity (Xxxxx'x/S&P)
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Class A-1 $75,000,000 Fixed 0.33 0.08 0.50 6/20/99 P-1/A-1+
Class A-2 $228,304,000 Fixed 1.00 0.50 1.08 11/20/13 Aaa / AAA
Class A-3 $198,193,000 Fixed 2.00 1.50 1.08 5/20/14 Aaa / AAA
Class A-4 $118,582,000 Fixed 3.00 2.50 1.08 12/20/17 Aaa / AAA
Class A-5 $95,073,000 Fixed 4.00 3.50 1.08 8/20/22 Aaa / AAA
Class A-6 $100,867,000 Fixed 5.40 4.50 2.00 4/20/26 Aaa / AAA
Class A-7 $113,981,000 Fixed(b) 7.70 6.42 1.58 7/20/29 Aaa / AAA
Class A-8 $70,000,000 Fixed/NAS(b) 6.27 3.08 4.92 7/20/29 Aaa / AAA
Class A-9IO $70,000,000(c) Fixed(c) N/A N/A N/A N/A Aaa / AAA
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Notes:
(a) 100% Prepayment Assumption: 4.0% CPR in month 1, and an additional
1.909% per annum in each month thereafter until month 12. On and after
month 12, 25% CPR. To 10% Optional Call.
(b) Coupon will be increased by [0.50%] for each payment after the Initial
Call Date.
(c) Notional IO has a [5.35%] coupon based on the NAS class for 36 months.
(d) Coupons may be limited as described in the Prospectus.
Prepayment Pricing
Speed Assumption: 4% CPR, increasing to 25% CPR over 12 months
Payment Date: The 20th day of each month (or the next
Business Day thereafter) commencing on
July 20, 1998.
Payment Delay: With the exception of the Class A-1
Certificates, 19 days. With respect to the
Class A-1 Certificates, 0 days.
Settlement (Closing) Date: On or about June 10, 1998.
Statistical Cut-off Date: May 5, 1998 (close of business)
Cut-off Date: June 1, 1998 (close of business)
Clean-up Call: The first Monthly Remittance Date on
which the aggregate Loan Balance of the Home
Equity Loans has declined to less than 10%
of the aggregate Loan Balance as of the
Cut-Off Date.
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IMC HOME EQUITY LOAN TRUST 1998-3
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PRICING INFORMATION (continued)
Interest Accrual Period: With the exception of the Class A-1
Certificates, interest will accrue on the
Certificates at a fixed rate during the
month prior to the month of the related
Payment Date based on a 30/360 day year.
With respect to any Payment Date, the Class
A-1 Certificates will be entitled to
interest which has accrued thereon from the
preceding Payment Date (or from the
Settlement Date in the case of the first
Payment Date) to and including the day prior
to the Current Payment Date (the "Class A-1
Accrual Period") at the Class A-1
Certificate Interest Rate. Calculations of
Interest on the Class A-1 Certificates will
be made on the basis of the actual number of
days elapsed in the related A-1 Accrual
Period and a year of 360 days.
Class A-1 Maturity: The final Payment Date for the Class A-1
Certificates will be June 21, 1999, at which
time the remaining Certificate Principal
Balance, if any, of the Class A-1
certificates will be paid in full. If the
principal remittance amount for such Payment
Date is not sufficient to pay in full the
remaining Certificate Principal Balance, if
any then outstanding, of the Class A-1
Certificates on such date, a draw will be
made on the FSA Insurance Policy in the
amount of such shortfall.
Limited Initial Turbo: 85% of the excess cash flow will be used to
accelerate the bonds until the
overcollateralization target is reached. To
the extent necessary, after the
overcollateralization target is initially
reached, 100% of the excess cash flow will
be available to accelerate the bonds to the
overcollateralization target.
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IMC HOME EQUITY LOAN TRUST 1998-3
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DESCRIPTION OF SECURITIES
Title of Securities: IMC Home Equity Loan Trust 1998-3
Lead Underwriter: PaineWebber Incorporated
Co-Underwriters: Bear, Xxxxxxx and Co. Inc.
Deutsche Xxxxxx Xxxxxxxx
X.X. Xxxxxx Securities Inc.
Xxxxxx Xxxxxxx Xxxx Xxxxxx
Seller and Servicer: IMC Mortgage Company
Headquartered in Tampa, FL
Depositor: IMC Securities, Inc.
Trustee: The Chase Manhattan Bank
Offering Amount: Approximately $1,000,000,000
Statistical Calculation Date: The collateral described herein and in the
prospectus supplement represents the pool of
Home Equity Loans as of the Statistical
Calculation Date of May 5, 1998. It is
anticipated that the total unpaid principal
balance of the collateral pool conveyed to
the Trust at closing will be approximately
$750,000,000.
Pre-Funding Account: On the Closing Date, approximately
$250,000,000 will be deposited in an account
(the "Pre-Funding Account") and will be used
to acquire Subsequent Loans. The
"Pre-Funding Period" is the period
commencing on the Closing Date and ending
generally on the earlier to occur of (i) the
date on which the amount on deposit in the
Pre-Funding Account is less than $100,000
and (ii) August 15, 1998.
Form of Offering: Book-Entry form, same-day funds through DTC,
Euroclear, and CEDEL.
Denominations: Minimum denominations of $25,000 and
multiples of $1,000 thereafter.
Servicing/Other Fees: The collateral is subject to certain fees,
including a servicing fee of 0.50% per
annum payable monthly, Certificate Insurer
fees, and trustee fees.
Advancing by Servicer: The Servicer is required to advance from
its own funds any delinquent payment of
interest (not principal) unless such
interest is deemed to be non-recoverable
(the "Delinquency Advances").
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IMC HOME EQUITY LOAN TRUST 1998-3
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DESCRIPTION OF SECURITIES (Continued)
Credit Enhancement: Credit enhancement with respect to the
Certificates will be provided by (a) the
overcollateralization mechanics which
utilize the excess interest created by the
internal cashflows of the pool, and (b) the
Financial Security Assurance, Inc.("FSA")
Insurance Policy.
Overcollateralization: Subject to certain
floors, caps and triggers, the required
level of overcollateralization may increase
or decrease over time.
FSA Insurance Policy: FSA (the "Certificate
Insurer") will unconditionally and
irrevocably guarantee the timely payment of
interest and ultimate payment of principal
on the Certificates (i.e. after any losses
reduce the overcollateralization to zero,
FSA will cover the excess, if any, of the
Certificate principal balance over the
aggregate collateral balance). The Insured
Payments do not cover Realized Losses except
to the extent that an Overcollateralization
Deficit exists. Insured Payments do not
cover the Servicer's failure to make
Delinquency Advances except to the extent
that an Overcollateralization Deficit would
otherwise result therefrom. The Insurance
Policy is not cancelable for any reason.
Federal Tax Aspects: The Trust, exclusive of the Pre-funding
account and the Capitalized Interest
account, will consist of two segregated
asset pools, (the "Upper-Tier REMIC" and the
"Lower-Tier REMIC"). Each class of the
Offered Certificates will be designated as a
"regular interest" in the Upper-Tier REMIC.
ERISA Considerations: The Certificates may be purchased by
employee benefit plans that are subject to
ERISA.
SMMEA Eligibility: The Certificates will NOT constitute
"mortgage-related securities" for purposes
of SMMEA.
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IMC HOME EQUITY LOAN TRUST 1998-3
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BOND SENSITIVITY TO PREPAYMENTS
CLASS A-1 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 0.81 0.45 0.38 0.33 0.30 0.27
First Principal Payment 07/98 07/98 07/98 07/98 07/98 07/98
Last Principal Payment 06/99 03/99 01/99 12/98 11/98 11/98
Principal Window (years) 1.00 0.75 0.58 0.50 0.42 0.42
CLASS A-2 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 9.99 1.65 1.23 1.00 0.86 0.76
Yield @ par 6.39% 6.21% 6.14% 6.08% 6.02% 5.97%
Modified Duration 7.08 1.52 1.15 0.94 0.82 0.73
First Principal Payment 11/02 03/99 01/99 12/98 11/98 11/98
Last Principal Payment 06/12 01/01 04/00 12/99 09/99 07/99
Principal Window (years) 9.67 1.92 1.33 1.08 0.92 0.75
CLASS A-3 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 14.70 3.71 2.58 2.00 1.64 1.40
Yield @ par 6.31% 6.24% 6.20% 6.16% 6.13% 6.09%
Modified Duration 9.37 3.22 2.32 1.83 1.52 1.31
First Principal Payment 06/12 01/01 04/00 12/99 09/99 07/99
Last Principal Payment 05/13 05/03 10/01 12/00 07/00 03/00
Principal Window (years) 1.00 2.42 1.58 1.08 0.92 0.75
CLASS A-4 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 15.68 5.89 3.99 3.00 2.42 2.02
Yield @ par 6.39% 6.35% 6.33% 6.30% 6.27% 6.24%
Modified Duration 9.68 4.78 3.43 2.66 2.18 1.85
First Principal Payment 05/13 05/03 10/01 12/00 07/00 03/00
Last Principal Payment 06/16 05/05 02/03 12/01 03/01 09/00
Principal Window (years) 3.17 2.08 1.42 1.08 0.75 0.58
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IMC HOME EQUITY LOAN TRUST 1998-3
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BOND SENSITIVITY TO PREPAYMENTS (continued)
CLASS A-5 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 20.28 8.34 5.39 4.00 3.15 2.60
Yield @ par 6.52% 6.49% 6.47% 6.45% 6.42% 6.40%
Modified Duration 11.01 6.27 4.43 3.43 2.77 2.33
First Principal Payment 06/16 05/05 02/03 12/01 03/01 09/00
Last Principal Payment 03/21 03/08 08/04 12/02 01/02 05/01
Principal Window (years) 4.83 2.92 1.58 1.08 0.92 0.75
CLASS A-6 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 24.86 11.52 7.66 5.40 4.19 3.38
Yield @ par 6.57% 6.56% 6.54% 6.52% 6.50% 6.48%
Modified Duration 12.01 7.88 5.86 4.43 3.56 2.95
First Principal Payment 03/21 03/08 08/04 12/02 01/02 05/01
Last Principal Payment 02/25 12/11 12/07 11/04 05/03 05/02
Principal Window (years) 4.00 3.83 3.42 2.00 1.42 1.08
CLASS A-7 (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 27.22 14.36 10.35 7.70 5.94 4.77
Yield @ par 6.96% 6.95% 6.94% 6.93% 6.91% 6.90%
Modified Duration 11.98 8.87 7.20 5.81 4.73 3.95
First Principal Payment 02/25 12/11 12/07 11/04 05/03 05/02
Last Principal Payment 09/25 11/12 11/08 05/06 09/04 07/03
Principal Window (years) 0.67 1.00 1.00 1.58 1.42 1.25
CLASS A-8 NAS (to call)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 12.11 7.76 6.92 6.27 5.47 4.72
Yield @ par 6.47% 6.46% 6.45% 6.45% 6.44% 6.43%
Modified Duration 8.06 5.85 5.37 4.98 4.47 3.96
First Principal Payment 07/01 07/01 07/01 07/01 07/01 07/01
Last Principal Payment 09/25 11/12 11/08 05/06 09/04 07/03
Principal Window (years) 24.25 11.42 7.42 4.92 3.25 2.08
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IMC HOME EQUITY LOAN TRUST 1998-3
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BOND SENSITIVITY TO PREPAYMENTS (continued)
CLASS A-7 (to maturity)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 28.24 16.38 12.69 9.71 7.35 5.62
Yield @ par 6.97% 6.98% 7.01% 7.01% 7.00% 6.97%
Modified Duration 12.13 9.49 8.17 6.79 5.52 4.47
First Principal Payment 02/25 12/11 12/07 11/04 05/03 05/02
Last Principal Payment 02/28 03/24 03/18 10/13 12/11 08/09
Principal Window (years) 3.08 12.33 10.33 9.00 8.67 7.33
CLASS A-8 NAS (to maturity)
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% of Prepayment Assumption 0% 50% 75% 100% 125% 150%
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Average Life (years) 12.11 7.76 6.97 6.44 6.03 5.71
Yield @ par 6.47% 6.46% 6.46% 6.46% 6.48% 6.52%
Modified Duration 8.06 5.85 5.40 5.07 4.81 4.60
First Principal Payment 07/01 07/01 07/01 07/01 07/01 07/01
Last Principal Payment 12/27 06/22 05/13 05/13 10/11 05/09
Principal Window (years) 26.50 21.00 11.92 11.92 10.33 7.92
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IMC HOME EQUITY LOAN TRUST 1998-3
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DESCRIPTION OF THE STATISTICAL POOL OF HOME EQUITY LOANS
AS OF THE STATISTICAL CUT-OFF DATE
Aggregate Field Description Count Balance$ Pool%
State Alabama 8 345,256 0.05
Alaska 1 94,849 0.01
Arizona 70 4,235,926 0.58
Arkansas 35 1,516,702 0.21
California 354 39,063,448 5.34
Colorado 126 8,870,812 1.21
Connecticut 169 13,648,367 1.87
Delaware 39 2,284,814 0.31
District of Columbia 17 1,556,237 0.21
Florida 984 58,064,241 7.94
Georgia 392 27,040,033 3.70
Hawaii 19 3,059,993 0.42
Idaho 35 1,742,791 0.24
Illinois 431 28,038,320 3.84
Indiana 386 19,061,668 2.61
Iowa 38 1,892,203 0.26
Kansas 30 1,551,496 0.21
Kentucky 124 6,163,052 0.84
Louisiana 88 4,242,984 0.58
Maine 17 965,714 0.13
Maryland 410 27,731,833 3.79
Massachusetts 210 14,370,556 1.97
Michigan 1,015 60,482,676 8.27
Minnesota 104 7,055,357 0.97
Mississippi 86 3,862,443 0.53
Missouri 142 6,139,041 0.84
Montana 6 639,622 0.09
Nebraska 25 1,081,358 0.15
Nevada 36 2,973,095 0.41
New Hampshire 17 963,936 0.13
New Jersey 474 42,702,007 5.84
New Mexico 54 4,222,615 0.58
New York 1,338 108,905,896 14.90
North Carolina 551 32,525,267 4.45
North Dakota 3 205,876 0.03
Ohio 702 38,528,478 5.27
Oklahoma 40 1,701,950 0.23
Oregon 91 7,564,838 1.03
Pennsylvania 639 38,486,353 5.26
Rhode Island 50 3,575,209 0.49
South Carolina 379 20,855,661 2.85
South Dakota 1 35,000 0.00
Tennessee 469 27,567,027 3.77
Texas 235 15,559,107 2.13
Utah 84 7,446,371 1.02
Vermont 8 518,366 0.07
Virginia 287 17,041,899 2.33
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IMC HOME EQUITY LOAN TRUST 1998-3
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Washington 103 8,273,326 1.13
West Virginia 41 1,732,814 0.24
Wisconsin 96 4,723,646 0.65
Wyoming 4 161,366 0.02
------ ----------- ------
Total 11,063 $731,071,895 100.00%
DESCRIPTION OF THE STATISTICAL POOL OF HOME EQUITY LOANS
AS OF THE STATISTICAL CUT-OFF DATE
Aggregate Field Description Count Balance$ Pool%
Combined LTV 5.01 to 10.00 4 76,171 0.01
10.01 to 15.00 13 296,376 0.04
15.01 to 20.00 19 444,685 0.06
20.01 to 25.00 50 1,542,791 0.21
25.01 to 30.00 62 2,527,813 0.35
30.01 to 35.00 83 3,123,038 0.43
35.01 to 40.00 128 6,179,521 0.85
40.01 to 45.00 142 6,258,760 0.86
45.01 to 50.00 239 11,490,323 1.57
50.01 to 55.00 229 13,529,426 1.85
55.01 to 60.00 404 21,386,347 2.93
60.01 to 65.00 676 40,524,426 5.54
65.01 to 70.00 1,038 61,819,420 8.46
70.01 to 75.00 1,574 104,742,599 14.33
75.01 to 80.00 2,955 226,732,383 31.01
80.01 to 85.00 1,554 117,888,440 16.13
85.01 to 90.00 1,219 89,627,166 12.26
90.01 to 95.00 177 6,732,655 0.92
95.01 to 100.00 497 16,149,555 2.21
------ ----------- ------
Total 11,063 $731,071,895 100.00%
Aggregate Field Description Count Balance$ Pool%
Current Coupon 6.001 - 7.000 28 3,265,794 0.45
7.001 - 8.000 160 18,555,342 2.54
8.001 - 9.000 699 68,279,674 9.34
9.001 - 10.000 1,819 157,176,240 21.50
10.001 - 11.000 2,712 190,649,808 26.08
11.001 - 12.000 2,377 143,588,388 19.64
12.001 - 13.000 1,782 92,134,941 12.60
13.001 - 14.000 984 39,537,721 5.41
14.001 - 15.000 377 13,821,815 1.89
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IMC HOME EQUITY LOAN TRUST 1998-3
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15.001 - 16.000 93 3,156,695 0.43
16.001 - 17.000 28 839,357 0.11
17.001 - 18.000 3 47,120 0.01
19.001 - 20.000 1 19,000 0.00
------ ----------- ------
Total 11,063 $731,071,895 100.00%
DESCRIPTION OF THE STATISTICAL POOL OF HOME EQUITY LOANS
AS OF THE STATISTICAL CUT-OFF DATE
Aggregate Field Description Count Balance$ Pool%
Current Balance Up to 25,000.00 1,831 33,663,800 4.60
25,000.01 to 50,000.00 3,714 140,537,686 19.22
50,000.01 to 75,000.00 2,466 151,347,649 20.70
75,000.01 to 100,000.00 1,226 106,715,177 14.60
100,000.01 to 125,000.00 706 79,183,854 10.83
125,000.01 to 150,000.00 387 52,772,534 7.22
150,000.01 to 175,000.00 220 35,491,479 4.85
175,000.01 to 200,000.00 96 17,812,498 2.44
200,000.01 to 250,000.00 185 41,856,335 5.73
250,000.01 to 300,000.00 142 38,929,431 5.33
300,000.01 to 350,000.00 47 15,165,634 2.07
350,000.01 to 400,000.00 25 9,369,042 1.28
400,000.01 to 450,000.00 10 4,244,102 0.58
450,000.01 to 500,000.00 4 1,897,686 0.26
500,000.01 to 550,000.00 3 1,528,763 0.21
Over 550,000.00 1 556,223 0.08
------ ----------- ------
Total 11,063 $731,071,895 100.00%
Aggregate Field Description Count Balance$ Pool%
Property Type Two- to Four-Family 686 51,902,957 7.10
Townhouse 21 1,261,330 0.17
Manufactured Housing 74 3,300,702 0.45
Multi-Family 28 2,993,101 0.41
Condominium 130 7,725,601 1.06
Single Family Attached 114 6,358,906 0.87
Single Family Detached 9,992 656,157,457 89.75
-------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
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[GRAPHIC OMITTED]
12
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IMC HOME EQUITY LOAN TRUST 1998-3
---------------------------------------------------------------
Planned Unit Development 15 1,029,384 0.14
Mixed Use 3 342,458 0.05
------ ----------- ------
Total 11,063 $731,071,895 100.00%
Aggregate Field Description Count Balance$ Pool%
Months Since Origination 0 to 1 4,582 283,136,759 38.73
2 to 12 6,405 443,079,668 60.61
13 to 24 73 4,729,197 0.65
25 or more 3 126,271 0.02
------ ----------- ------
Total 11,063 $731,071,895 100.00%
DESCRIPTION OF THE STATISTICAL POOL OF HOME EQUITY LOANS
AS OF THE STATISTICAL CUT-OFF DATE
Aggregate Field Description Count Balance$ Pool%
Remaining Term Up to 120 524 14,946,782 2.04
121 to 180 5,772 350,762,977 47.98
181 to 240 1,193 65,089,579 8.90
241 to 300 145 9,011,432 1.23
301 to 360 3,429 291,261,125 39.84
------ ----------- ------
Total 11,063 $731,071,895 100.00%
Aggregate Field Description Count Balance$ Pool%
Lien Type First Lien 8,311 624,915,592 85.48
Second Lien 2,752 106,156,303 14.52
------ ----------- ------
Total 11,063 $731,071,895 100.00%
Aggregate Field Description Count Balance$ Pool%
Occupancy Owner Occupied 10,362 691,693,546 94.61
Investor Owned 681 38,261,604 5.23
Vacation/Second Home 20 1,116,744 0.15
-------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
-------------------------------------------------------------------------------
[GRAPHIC OMITTED]
13
---------------------------------------------------------------
IMC HOME EQUITY LOAN TRUST 1998-3
---------------------------------------------------------------
------ ----------- ------
Total 11,063 $731,071,895 100.00%
-------------------------------------------------------------------------------
THIS PAGE MUST BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT
RECEIVE SUCH A DISCLAIMER, PLEASE CONTACT YOUR PAINEWEBBER
INCORPORATED FINANCIAL ADVISOR IMMEDIATELY.
-------------------------------------------------------------------------------
[GRAPHIC OMITTED]
14
