-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Up62dTlAt88XCWx6mjWW6CxztSp2gO31wtwcEUDGTOLP+EDWzrCAGBb+dHEAZIiw aHKjxjBP5K82eCOejMgV1w== 0000950144-98-003713.txt : 19980401 0000950144-98-003713.hdr.sgml : 19980401 ACCESSION NUMBER: 0000950144-98-003713 CONFORMED SUBMISSION TYPE: 10-K405 PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980331 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMC HOME EQUITY LOAN OWNER TRUST 1997-4 CENTRAL INDEX KEY: 0001044998 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 133964145 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K405 SEC ACT: SEC FILE NUMBER: 333-31197-01 FILM NUMBER: 98580283 BUSINESS ADDRESS: STREET 1: 450 W 33RD ST STREET 2: CHASE MANHATTAN BANK CITY: NEW YORK STATE: NY ZIP: 10001-2697 BUSINESS PHONE: 8139848801 MAIL ADDRESS: STREET 1: 5901 EAST FOWLER AVE STREET 2: 3450 BUSCHWOOD PARK DRIVE STE 250 CITY: TAMPA STATE: FL ZIP: 33617 10-K405 1 IMC HOME EQUITY LOAN OWNER TRUST 1997-4 10-K405 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the fiscal year ended December 31, 1997 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from _______ to _______. Commission File Number 333-31197-01 ------------ IMC HOME EQUITY LOAN OWNER TRUST 1997-4 ------------------------------------------------------ (Exact name of registrant as specified in its charter) New York 13-3964145 - ---------------------------------- ---------------------- (State of other jurisdiction of (I.R.S. Employer Incorporation or organization) Identification No.) c/o The Chase Manhattan Bank Structured Finance Services 450 West 33rd Street, New York, NY 10001-2697 - ---------------------------------------- ------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (813) 984-8801 -------------- Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered: None None ------------------- ------------------------------------------ None - -------------------------------------------------------------------------------- (Title of class) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No . --- --- Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (s 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X] State the aggregate market value of the voting stock held by non-affiliates of registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of specified date within 60 days prior to the date of filing: Not Applicable Documents Incorporated by Reference: Not Applicable 2 IMC HOME EQUITY LOAN OWNER TRUST 1997-4 INDEX
Page PART I .............................................................................................. 3 ITEM 1 - BUSINESS ....................................................................... 3 ITEM 2 - PROPERTIES ..................................................................... 3 ITEM 3 - LEGAL PROCEEDINGS ............................................................. 3 ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS ............................ 3 PART II ............................................................................................. 3 ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS ........... 3 ITEM 6 - SELECTED FINANCIAL DATA ........................................................ 3 ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ................................................................... 3 ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK ..................... 3 ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA .................................... 4 ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE ................................................................... 4 PART III ............................................................................................ 4 ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT ............................. 4 ITEM 11 - EXECUTIVE COMPENSATION ......................................................... 4 ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ................. 4 ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS ................................. 6 PART IV ............................................................................................. 6 ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K ................ 6 SIGNATURES .......................................................................................... 8 INDEX TO EXHIBITS ................................................................................... 9
-2- 3 PART I ITEM 1 - BUSINESS Not Applicable ITEM 2 - PROPERTIES Not Applicable ITEM 3 - LEGAL PROCEEDINGS The Depositor is not aware of any material pending legal proceedings involving either the IMC Home Equity Loan Owner Trust 1997-4 (the "Trust"), established pursuant to the Sale and Servicing Agreement (the "Agreement") dated August 1, 1997, among The Chase Manhattan Bank, as trustee (the "Trustee"), IMC Securities, Inc., as depositor (the "Depositor") and IMC Mortgage Company (as successor by merger to Industry Mortgage Company, L.P.), as servicer (the "Servicer"); the Trustee; the Depositor or the Servicer which relates to the Trust. ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS No matter has been submitted to a vote of the holders of beneficial interests in the Trust through the solicitation of proxies or otherwise. PART II ITEM 5 - MARKET FOR REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS To the best knowledge of the Depositor, there is no established public trading market for any beneficial interests in the Trust. All of the Asset Backed Notes issued by the Trust are held by the Depository Trust Company ("DTC") which in turn maintains records of holders of beneficial interests in such Notes. Based on information obtained by the Trust from DTC, as of February 19, 1997, there were 16 holders of the Notes. ITEM 6 - SELECTED FINANCIAL DATA Not Applicable ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Not Applicable ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not Applicable -3- 4 ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA In addition to the information included in the Annual Compilation of Monthly Trustee's Statements attached as Exhibit 99.3 hereto, the gross servicing compensation paid to the Servicer for the year ended December 31, 1997 was $1,165,883.25. ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE There were no changes of accountants or disagreements on accounting or financial disclosures between IMC Mortgage Company (as successor by merger to Industry Mortgage Company, L.P.) (the "Issuer") and its accountants. PART III ITEM 10 - DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT Not Applicable ITEM 11 - EXECUTIVE COMPENSATION Not Applicable ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth (I) the name and address of each entity owning more than 5% of the outstanding principal amount of the Notes of the Trust; (ii) the principal amount of the Notes owned by each and (iii) the percent that the principal amount of the Notes owned by such entity represents of the outstanding principal amount of the Notes. The information set forth in the table for the Notes is based upon information obtained by the Trust from DTC and represents ownership of beneficial interest in the Notes held by DTC. The Depositor is not aware of any Schedules 13D or 13G filed with the Securities and Exchange Commission in respect of the Notes.
DTC Participant Number (Name and Address below) Principal Amount % of Class - ------------------------ ---------------- ---------- 901 $ 89,600,000 15.58% 954 $100,000,000 17.39% 902 $248,000,000 43.13% 2424 $ 57,500,000 10.00%
-4- 5
DTC Participant Number Name and Address - ---------------------- ---------------- 901 Bank of New York 925 Patterson Plank Rd. Secaucus, NJ 07094 902 Chase Manhattan Bank Trim Supervisor 13th Floor 4 New York Plaza New York, NY 10004 954 Boston Safe Deposit & Trust Co. c/o Mellon Bank N.A. Three Mellon Bank Center,Room 153-3015 Pittsburgh, PA 15259 2424 Custodial Trust Company 101 Carnegie Center Princeton, NJ 08540
-5- 6 ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS [None] Part IV ITEM 14 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K (a) The following documents are filed as part of this report: 1. Financial Statements: Not applicable. 2. Financial Statement Schedules: Not applicable. 3. Exhibits:
EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Statement of Compliance of the Servicer. 99.2 Annual Report of Independent Accountants with respect to the Servicer's overall servicing operations. 99.3 Annual compilation of Monthly Trustee's Statement.
(b) Reports on Form 8-K 5 reports on Form 8-K have been filed by the issuer during the period covered by this report.
DATE OF REPORTS ON FORM 8-K ITEMS REPORTED/FINANCIAL STATEMENTS FILED September 22, 1997 Trustee's Monthly Report for the August Monthly Period. October 20, 1997 Trustee's Monthly Report for the September Monthly Period.
-6- 7 November 20, 1997 Trustee's Monthly Report for the October Monthly Period. December 22, 1997 Trustee's Monthly Report for the November Monthly Period. January 20, 1998 Trustee's Monthly Report for the December Monthly Period.
-7- 8 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Depositor has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. By: IMC Securities, Inc., As Depositor By: /s/ Thomas G. Middleton --------------------------------------- Name: Thomas G. Middleton Title: President, Chief Operating Officer, Assistant Secretary and Director By: /s/ Stuart D. Marvin --------------------------------------- Name: Stuart D. Marvin Title: Chief Financial Officer Date: March 28, 1998 -8- 9 INDEX TO EXHIBITS Item 14(C)
EXHIBIT NO. DESCRIPTION ----------- ----------- 99.1 Statement of Compliance of the Servicer. 99.2 Annual Report of Independent Accountants with respect to the Servicer's overall servicing operations. 99.3 Annual compilation of Monthly Trustee's Statement.
-9- EX-99.1 2 STATEMENT OF COMPLIANCE OF SERVICER 1 EXHIBIT 99.1 2 IMC HOME EQUITY LOAN OWNER TRUST 1997-4 Officer's Certificate In connection with the above-referenced trust and pursuant to Section 4.16 of the related Sale and Servicing Agreement ("Agreement"), IMC Mortgage Company (as "Servicer"), hereby confirms the following: (i) a review of the activities of the Servicer during 1997 and of performance under the Agreement has been made under my supervision; and (ii) to the best of my knowledge, based on such review, the Servicer has fulfilled all of its obligations under the Agreement for the calendar year 1997. IMC Mortgage Company By: /s/ Thomas G. Middleton --------------------------------------------- Thomas G. Middleton President & Chief Operating Officer EX-99.2 3 ANNUAL REPORT OF INDEPENDENT ACCOUNTANTS 1 EXHIBIT 99.2 2 REPORT OF INDEPENDENT ACCOUNTANTS-UNIFORM SINGLE ATTESTATION PROGRAM To the Board of Directors of IMC Mortgage Company and Subsidiaries We have examined the assertion by IMC Mortgage Company and Subsidiaries' management about compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) as of and for the year ended December 31, 1997 included in the accompanying management assertion. Management is responsible for IMC Mortgage Company and Subsidiaries' compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the entity's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accounts and, accordingly, included examining, on a test basis, evidence about IMC Mortgage Company and Subsidiaries' compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on IMC Mortgage Company and Subsidiaries' compliance with the minimum servicing standards. In our opinion, management's assertion that IMC Mortgage Company and Subsidiaries complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 1997 is fairly stated, in all material respects. /S/ COOPERS & LYBRAND L.L.P. Tampa, Florida February 20, 1998 3 [IMC MORTGAGE COMPANY LETTERHEAD] March 23, 1998 Coopers & Lybrand 101 East Kennedy Blvd. Suite 1500 Tampa, FL 33602 As of and for the year ended December 31, 1997, IMC Mortgage Company and Subsidiaries has compiled in all material respects with minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. For the period January 1 to June 30, 1997, IMC Mortgage Company and Subsidiaries had in effect a fidelity bond policy in the amount of $4,000,000. As of and for the six months ended December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect a fidelity bond policy in the amount of $8,000,000. As of and for the year ended December 31, 1997, IMC Mortgage Company and Subsidiaries had in effect an errors and omissions policy in the amount of $2,000,000. /s/ Stuart D. Marvin ----------------------------------------- Stuart D. Marvin, Chief Financial Officer EX-99.3 4 ANNUAL COMPILATION OF MONTHLY TRUSTEE'S STATEMENT 1 EXHIBIT 99.3 -12- 2 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 - --------------------------------------------------------------------------------
DISTRIBUTION: 22-Sep-97 PAGE # 1 - ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING OVER- ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE - ------------------------------------------------------------------------------------------------------------------------------------ 575,000,000.00 575,000,000.00 6,217,128.16 3,082,283.19 9,299,411.35 568,782,871.84 1,454,518.51 570,237,390.35 ====================================================================================================================================
- -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- FACTOR INFORMATION PER $1,000 NOTE RATES
- ----------------------------------------- ------------------------------ PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE DISTRIBUTION DISTRIBUTION BALANCE RATE RATE - ----------------------------------------- ------------------------------ 10.81239680 5.36049250 989.18760320 5.8478% 5.8478% ========================================= ==============================
================================================================================ IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: ANN MARIE JOSE THE CHASE MANHATTAN BANK - ASPG 450 WEST 33RD STREET, 15TH FLOOR NEW YORK, NEW YORK 10001 (212) 946-7148 3 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 ================================================================================
DISTRIBUTION: 22-Sep-97 PAGE # 2 SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 9,358,693.34 SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 9,299,411.35 SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,455,452.51 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 --------- SECTION 3.09 (a)(i) NOTE DISTRIBUTION 9,299,411.35 16.17 SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION INSTALLMENT PRINCIPAL COLLECTED 124,342.34 0.22 PRINCIPAL PREPAYMENTS 4,637,333.31 8.06 OVERCOLLATERALIZATION INCREASE AMOUNT 1,455,452.51 2.53 OTHER 0.00 0.00 SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00 SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00 SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 570,237,390.35 ENDING NUMBER OF LOANS OUTSTANDING 5,978 SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 1,454,518.51 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 10.0937% SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS 1,584,374.35 SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00 AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00 SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
----------------------------------------------------------------------- CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE ----------------------------------------------------------------------- 30-59 DAYS 270 23,979,700.84 4.21% 60-89 DAYS 94 7,434,753.07 1.30% 90 + DAYS 11 1,206,609.62 0.21% ----------------------------------------------------------------------- *The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy
4 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 ================================================================================
DISTRIBUTION: 22-Sep-97 PAGE # 3 SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 1 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 45,588.89 NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 1 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 45,588.89 SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 17 AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,573,863.03 SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 25 AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 2,532,152.10 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 0.00 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) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 0.31507513% 90+ DELINQUENT LOANS 1,206,609.62
5 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 ================================================================================ DISTRIBUTION: 20-Oct-97 PAGE # 1
- ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING OVER- ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE - ----------------------------------------------------------------------------------------------------------------------------------- 575,000,000.00 568,685,477.54 11,481,107.98 2,596,918.03 14,078,026.01 557,204,369.57 3,443,354.08 560,647,723.65 ===================================================================================================================================
================================================================================ FACTOR INFORMATION PER $1,000
==================================================================== PRINCIPAL INTEREST ENDING NOTE DISTRIBUTION DISTRIBUTION BALANCE - -------------------------------------------------------------------- 19.96714431 4.51637918 969.05107751 ====================================================================
NOTE RATES
======================================================== INIT NOTE CURR NOTE RATE RATE - -------------------------------------------------------- 5.8400% 5.8713% ========================================================
================================================================================ IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: --------------------------------------------------------------------- ANN MARIE JOSE THE CHASE MANHATTAN BANK - ASPG 450 WEST 33RD STREET, 15TH FLOOR NEW YORK, NEW YORK 10001 (212) 946-7148 --------------------------------------------------------------------- (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK - -------------------------------------------------------------------------------- 6 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 ================================================================================ DISTRIBUTION: 20-Oct-97 PAGE # 2 SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 14,136,647.03 SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 14,078,026.01 SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,891,441.28 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 --------- SECTION 3.09 (a)(i) NOTE DISTRIBUTION 14,078,026.01 24.48 SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION INSTALLMENT PRINCIPAL COLLECTED 370,525.73 0.64 PRINCIPAL PREPAYMENTS 8,993,773.28 15.64 OVERCOLLATERALIZATION INCREASE AMOUNT 1,891,441.28 3.29 OTHER 225,367.69 0.39 SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00 SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00 SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 560,647,723.65 ENDING NUMBER OF LOANS OUTSTANDING 5,885 SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 3,443,354.08 OVERCOLLATERALIZATION DEFICIT 0.00 SECTION 3.09 (a)(ix) SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION 0.00 LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION 225,367.69 SECTION 3.09 (a)(x) WEIGHTED AVERAGE COUPON OF THE HOME EQUITY LOANS 10.0747% SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS 1,583,808.78 SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00 AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00 SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
- -------------------------------------------------------------------------------- CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE - -------------------------------------------------------------------------------- 30-59 DAYS 165 12,620,393.48 2.25% 60-89 DAYS 68 5,696,287.65 1.02% 90 + DAYS 57 5,079,642.61 0.91% - --------------------------------------------------------------------------------
* The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK - -------------------------------------------------------------------------------- 7 - -------------------------------------------------------------------------------- IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 ================================================================================ DISTRIBUTION: 20-Oct-97 PAGE # 3 SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 3 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 497,566.38 NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 2 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 451,994.12 SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 20 AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 1,825,395.07 SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 25 AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 2,744,113.60 SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 1 AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 115,629.93 SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY 145,000.00 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) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 0.46951770% 90+ DELINQUENT LOANS 5,195,272.54
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK - -------------------------------------------------------------------------------- 8 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 20-Nov-97 PAGE # 1
================================================================================================================================= ORIGINAL BEGINNING ENDING OVER- ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE - --------------------------------------------------------------------------------------------------------------------------------- 575,000,000.00 557,204,369.57 10,765,378.32 2,802,118.86 13,567,497.18 546,438,991.24 5,035,301.30 551,474,292.54 ================================================================================================================================= - --------------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 NOTE RATES
============================================== ============================ PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE DISTRIBUTION DISTRIBUTION BALANCE RATE RATE - ---------------------------------------------- ---------------------------- 18.72239708 4.87325019 950.32868042 5.8400% 5.8400% ============================================== ============================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: ANN MARIE JOSE THE CHASE MANHATTAN BANK - ASPG 450 WEST 33RD STREET, 15TH FLOOR NEW YORK, NEW YORK 10001 (212) 946-7148 (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK 9 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 20-Nov-97 PAGE # 2 SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 13,624,940.54 SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 13,567,497.18 SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,591,947.21 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 SECTION 3.09 (a)(i) NOTE DISTRIBUTION 13,567,497.18 23.60 SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION INSTALLMENT PRINCIPAL COLLECTED 311,021.01 0.54 PRINCIPAL PREPAYMENTS 8,862,410.10 15.41 OVERCOLLATERALIZATION INCREASE AMOUNT 1,591,947.21 2.77 OTHER 0.00 0.00 SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00 SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00 SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 551,474,292.54 ENDING NUMBER OF LOANS OUTSTANDING 5,789 SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 5,035,301.30 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 10.0702% SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS 1,583,150.84 SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00 AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00 SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:* ------------------------------------------------------------------------------------ CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE ------------------------------------------------------------------------------------ 30-59 DAYS 280 21,777,753.81 3.95% 60-89 DAYS 86 6,547,106.77 1.19% 90 + DAYS 101 8,778,819.77 1.59% ------------------------------------------------------------------------------------ *The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK 10 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 20-Nov-97 PAGE # 3 SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 21 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 2,193,822.60 NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 18 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 1,696,272.85 SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 27 AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,359,913.80 SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 22 AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 2,477,030.32 SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 1 AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 115,629.93 SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY 145,000.00 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) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 0.73832593% 90+ DELINQUENT LOANS 8,894,449.70
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK 11 EXHIBIT 19 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 22-Dec-97 PAGE # 1
- ----------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING OVER- ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE - ----------------------------------------------------------------------------------------------------------------------------------- 575,000,000.00 546,438,991.24 11,076,209.43 2,866,983.24 13,943,192.67 535,362,781.81 6,474,498.84 541,837,280.65 - -----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 NOTE RATES ========================================================== ==================================== PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE DISTRIBUTION DISTRIBUTION BALANCE RATE RATE - ---------------------------------------------------------- ------------------------------------ 19.26297292 4.98605781 931.06570750 5.8400% 5.9025% ========================================================== ===================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: ANN MARIE JOSE THE CHASE MANHATTAN BANK - ASPG 450 WEST 33RD STREET, 15TH FLOOR NEW YORK, NEW YORK 10001 (212) 946-7148 12 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 22-Dec-97 PAGE # 2
SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 13,999,529.91 SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 13,943,192.67 SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,439,197.54 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 $100 -------- SECTION 3.09 (a)(i) NOTE DISTRIBUTION 13,943,192.67 24.25 SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION PRINCIPAL C0LLECTED 231,674.26 0.40 PRINCIPAL PREPAYMENTS 9,405,337.63 16.36 OVERCOLLATERALIZATION INCREASE AMOUNT 1,439,197.54 2.50 OTHER 0.00 0.00 SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00 SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00 SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 541,837,280.65 ENDING NUMBER OF LOANS OUTSTANDING 5,690 SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 6,474,498.84 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 9.7600% SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS 1,582,244.87 SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00 AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00 SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:* ---------------------------------------------------------------------------- CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE ---------------------------------------------------------------------------- 30-59 DAYS 244 18,822,541.00 3.47% 60-89 DAYS 93 7,075,165.00 1.31% 90 + DAYS 138 11,422,185.00 2.11% ----------------------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy 13 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 DISTRIBUTION: 22-Dec-97 PAGE # 3 SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 43 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE 3,867,666.93 NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH N/A AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH N/A SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 30 AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 2,221,495.99 SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS N/A AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" N/A SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 1 AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 115,629.93 SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY N/A 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) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 1.07194190% 90+ DELINQUENT LOANS 11,537,814.93
14 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4
=================================================================================================================================== DISTRIBUTION: 20-Jan-98 PAGE # 1 ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL BEGINNING ENDING OVER- ENDING NOTE NOTE PRINCIPAL INTEREST TOTAL NOTE COLLATERALIZATION LOAN BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE AMOUNT BALANCE ---------------------------------------------------------------------------------------------------------------------------------- 575,000,000.00 535,362,781.81 11,451,662.14 2,666,831.62 14,118,493.76 523,911,119.67 8,120,127.91 532,031,247.58 ----------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000 NOTE RATES ----------------------------------------------------------------- ------------------------------------------ PRINCIPAL INTEREST ENDING NOTE INIT NOTE CURR NOTE DISTRIBUTION DISTRIBUTION BALANCE RATE RATE ----------------------------------------------------------------- ------------------------------------------ 19.91593416 4.63796803 911.14977334 5.8400% 6.18375% ----------------------------------------------------------------- ------------------------------------------ ===================================================================================================================================
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW: ANN MARIE JOSE THE CHASE MANHATTAN BANK - ASPG 450 WEST 33RD STREET, 15TH FLOOR NEW YORK, NEW YORK 10001 (212) 946-7148 (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK 15 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 =============================================================================== DISTRIBUTION: 20-Jan-98 PAGE # 2 SECTION 3.08 (1) BEGINNING NOTE ACCOUNT BALANCE 14,173,692.36 SECTION 3.08 (2) MONTHLY DISTRIBUTION AMOUNT 14,118,493.76 SECTION 3.08 (3) OVERCOLLATERALIZATION INCREASE AMOUNT 1,645,629.07 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 --------- SECTION 3.09 (a)(i) NOTE DISTRIBUTION 14,118,493.76 24.55 SECTION 3.09 (a)(ii) PRINCIPAL DISTRIBUTION INSTALLMENT PRINCIPAL COLLECTED 260,848.10 0.45 PRINCIPAL PREPAYMENTS 9,545,184.97 16.60 OVERCOLLATERALIZATION INCREASE AMOUNT 1,645,629.07 2.86 OTHER 0.00 0.00 SECTION 3.09 (a)(iv) CARRYFORWARD AMOUNT 0.00 SECTION 3.09 (a)(v) INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION 0.00 SECTION 3.09 (a)(vi) ENDING AGGREGATE LOAN BALANCE 532,031,247.58 ENDING NUMBER OF LOANS OUTSTANDING 5,590 SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT 8,120,127.91 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 10.2900% SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS N/A SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS 1,581,695.65 SECTION 3.09 (a)(xv) AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT 0.00 AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT 0.00 SECTION 3.09 (b)(i) NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
- -------------------------------------------------------------------------------
------------------------------------------------------------- CATEGORY COUNT AGG. PRIN. BAL. PERCENTAGE ------------------------------------------------------------- 30-59 DAYS 99 8,777,759.89 1.65% 60-89 DAYS 84 5,623,719.49 1.06% 90 + DAYS 185 15,110,840.34 2.84% -------------------------------------------------------------
*The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK 16 IMC HOME EQUITY LOAN OWNER TRUST HOME EQUITY LOAN ASSET-BACKED NOTES SERIES 1997-4 - -------------------------------------------------------------------------------- DISTRIBUTION: 20-Jan-98 PAGE #3
SECTION 3.09 (b)(ii) NUMBER OF LOANS IN FORECLOSURE 39 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 3,764,063.78 NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 2 AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN THE PRIOR MONTH 385,981.77 SECTION 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY 42 AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY 3,222,027.49 SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS 3 AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS" 378,885.85 SECTION 3.09 (b)(iv) NUMBER OF REO PROPERTIES 1 AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES 115,629.93 SECTION 3.09 (b)(v) BOOK VALUE OF REO PROPERTY 71,550.00 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) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH) 1.54893363% 90+ DELINQUENT LOANS 15,226,470.27
(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK -----END PRIVACY-ENHANCED MESSAGE-----