-----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, Qw54on6HmCixE3JxmGpzXyjfOB4c9SKpZ+BVFj5CTIGSEJQK9ykSAypMFyaEH6p1 kJuw9Gef2kl2o8D/H3b3Ug== 0000944209-97-000980.txt : 19970806 0000944209-97-000980.hdr.sgml : 19970806 ACCESSION NUMBER: 0000944209-97-000980 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970725 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970805 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ICIFC SECURED ASSETS CORP CENTRAL INDEX KEY: 0001018905 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330715871 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-08439 FILM NUMBER: 97651543 BUSINESS ADDRESS: STREET 1: 20371 IRVINE AVE #104 CITY: SANTA ANA HEIGTS STATE: CA ZIP: 92707 BUSINESS PHONE: 7145560122 MAIL ADDRESS: STREET 1: 20371 IRVINE AVE #104 CITY: SANTA ANA HEIGTS STATE: CA ZIP: 92707 8-K 1 FORM 8-K 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 25, 1997 ICIFC SECURED ASSETS CORP. (as Seller under the Pooling and Servicing Agreement, dated as of June 1, 1997, providing for the issuance of Mortgage Pass-Through Certificates, Series 1997-2) ICIFC SECURED ASSETS CORP. (Exact Name of Registrant as Specified in its Charter) California (State or Other Jurisdiction of Incorporation) 333-8439 33-071-5871 (Commission File Number) (I.R.S. Employer Identification No.) 20371 Irvine Avenue Santa Ana Heights, California 92707 (Address of Principal Executive Offices, Including Zip Code) (714) 556-0122 (Registrant's Telephone Number, Including Area Code) Item 5. Other Events - ------- ------------ Attached hereto are copies of the monthly remittance statements to the Certificateholders, which were distributed to the Certificateholders by the Trustee. Item 7. Statements and Exhibits - ------- ----------------------- (c) Exhibits Item 601(a) of Regulation S-K Exhibit No. Description - -------------- ----------- 99 Monthly remittance statement to the Certificateholders dated July 25, 1997. 2 SIGNATURES 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. ICIFC SECURED ASSETS CORP. Date: August 5, 1997 By: /s/ Mary Glass-Schannault ---------------------------------- Name: Mary Glass-Schannault Title: Vice President and Assistant Secretary 3
Index to Exhibits ----------------- Description Page - ----------- ---- Monthly remittance statement to the Certificateholders dated July 25, 1997. 5
4 EX-99 2 MONTHLY REMITTANCE STATEMENT DATED JULY 25, 1997 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-2 REMIC STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS PRIOR CURRENT ORIGINAL PRINCIPAL REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE - --------------------------------------------------------------------------------------------------------------------------------- A-I-1 37,369,000.00 37,369,000.00 225,771.04 635,671.95 861,442.99 0.00 0.00 36,733,328.05 A-I-2 18,298,000.00 18,298,000.00 107,500.75 0.00 107,500.75 0.00 0.00 18,298,000.00 A-I-3 21,673,000.00 21,673,000.00 130,038.00 0.00 130,038.00 0.00 0.00 21,673,000.00 A-I-4 16,599,000.00 16,599,000.00 105,127.00 0.00 105,127.00 0.00 0.00 16,599,000.00 A-I-5 26,463,000.00 26,463,000.00 173,112.13 0.00 173,112.13 0.00 0.00 26,463,000.00 A-I-6 11,145,514.00 11,145,514.00 71,052.65 0.00 71,052.65 0.00 0.00 11,145,514.00 A-I-7 12,588,628.00 12,588,628.00 83,924.19 0.00 83,924.19 0.00 0.00 12,588,628.00 A-I-8 54,827,000.00 54,827,000.00 365,513.33 29,959.93 395,473.26 0.00 0.00 54,797,040.07 A-I-9 51,505,486.00 51,505,486.00 407,751.76 287,776.05 695,527.81 0.00 0.00 51,217,709.95 A-II 22,154,296.00 22,154,296.00 147,695.31 68,312.59 216,007.90 0.00 0.00 22,085,983.41 X 275,312,264.00 275,312,264.19 192,130.71 0.00 192,130.71 0.00 0.00 274,299,574.81 B-1 6,556,000.00 6,556,000.00 43,706.67 4,764.07 48,470.74 0.00 0.00 6,551,235.93 B-2 3,642,000.00 3,642,000.00 24,280.00 2,646.54 26,926.54 0.00 0.00 3,639,353.46 B-3 2,185,000.00 2,185,000.00 14,566.67 1,587.78 16,154.45 0.00 0.00 2,183,412.22 PO 543,974.00 543,974.00 0.00 1,117.24 1,117.24 0.00 0.00 542,856.76 B-4 2,914,000.00 2,914,000.00 19,426.67 2,117.52 21,544.19 0.00 0.00 2,911,882.48 B-5 1,457,000.00 1,457,000.00 9,713.33 1,058.76 10,772.09 0.00 0.00 1,455,941.24 B-6 1,457,277.00 1,457,277.00 9,715.18 1,058.96 10,774.14 0.00 0.00 1,456,218.04 R-I 100.00 100.00 0.67 100.00 100.67 0.00 0.00 0.00 - --------------------------------------------------------------------------------------------------------------------------------- TOTALS 291,378,275.00 291,378,275.00 2,131,026.06 1,036,171.39 3,167,197.45 0.00 0.00 290,342,103.61 - ---------------------------------------------------------------------------------------------------------------------------------
* Note: Class X Represents a Notional Balance
- ------------------------------------------------------------------------------------------------------------------------------------ FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH PRIOR CURRENT RATES PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE CURRENT NEXT - ------------------------------------------------------------------------------------------------------------------------------------ A-I-1 44926MAW0 1,000.000000 6.041667 17.010676 23.052343 982.989324 7.250000% 7.250000% A-I-2 44926MAX8 1,000.000000 5.875000 0.000000 5.875000 1,000.000000 7.050000% 7.050000% A-I-3 44926MAY6 1,000.000000 6.000000 0.000000 6.000000 1,000.000000 7.200000% 7.200000% A-I-4 44926MAZ3 1,000.000000 6.333333 0.000000 6.333333 1,000.000000 7.600000% 7.600000% A-I-5 44926MBA7 1,000.000000 6.541667 0.000000 6.541667 1,000.000000 7.850000% 7.850000% A-I-6 44926MBB5 1,000.000000 6.375000 0.000000 6.375000 1,000.000000 7.650000% 7.650000% A-I-7 44926MBC3 1,000.000000 6.666667 0.000000 6.666667 1,000.000000 8.000000% 8.000000% A-I-8 44926MBD1 1,000.000000 6.666667 0.546445 7.213111 999.453555 8.000000% 8.000000% A-I-9 44926MBE9 1,000.000000 7.916667 5.587289 13.503956 994.412711 9.500000% 9.500000% A-II 44926MBF6 1,000.000000 6.666667 3.083492 9.750159 996.916508 8.000000% 8.000000% X 44926MBG4 1,000.000001 0.697865 0.000000 0.697865 996.321671 0.837438% 0.836187% B-1 44926MBH2 1,000.000000 6.666667 0.726673 7.393340 999.273327 8.000000% 8.000000% B-2 44926MBJ8 1,000.000000 6.666667 0.726672 7.393339 999.273328 8.000000% 8.000000% B-3 44926MBK5 1,000.000000 6.666668 0.726673 7.393341 999.273327 8.000000% 8.000000% PO 44926MBP4 1,000.000000 0.000000 2.053848 2.053848 997.946152 0.000000% 0.000000% B-4 44926MBL3 1,000.000000 6.666668 0.726671 7.393339 999.273329 8.000000% 8.000000% B-5 44926MBM1 1,000.000000 6.666664 0.726671 7.393336 999.273329 8.000000% 8.000000% B-6 44926MBN9 1,000.000000 6.666667 0.726669 7.393335 999.273331 8.000000% 8.000000% R-I IC9702119 1,000.000000 6.700000 1,000.000000 1,006.700000 0.000000 8.000000% 8.000000% - ------------------------------------------------------------------------------------------------------------------------------------
SELLER: ICIFC Secured Assets Corp. ADMINISTRATOR: Joe Murphy SERVICER: ICIFC Secured Assets Corp. Bankers Trust Company LEAD UNDERWRITER: Salmon Brothers 3 Park Plaza RECORD DATE: June 30, 1997 Irvine, CA 92614 DISTRIBUTION DATE: July 25, 1997 FACTOR INFORMATION: (800) 735-7777
5 (C) COPYRIGHT 1997 Bankers Trust Company ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-2 REMIC STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------------------------------------------------------- Distribution Date: July 25, 1997 - -------------------------------------------------------------------------------------------------------------------------------- Class Interest Accrued Net Interest Shortfall ----- ---------------- ---------------------- A-I-1 225,771.04 0.00 A-I-2 107,500.75 0.00 A-I-3 130,038.00 0.00 A-I-4 105,127.00 0.00 A-I-5 173,112.13 0.00 A-I-6 71,052.65 0.00 A-I-7 83,924.19 0.00 A-I-8 365,513.33 0.00 A-I-9 407,751.76 0.00 A-II 147,695.31 0.00 X 192,130.71 0.00 B-1 43,706.67 0.00 B-2 24,280.00 0.00 B-3 14,566.67 0.00 B-4 19,426.67 0.00 B-5 9,713.33 0.00 B-6 9,715.18 0.00 R-I 0.67 0.00 GROUP I GROUP II TOTAL: --------------- ------------- --------------- Monthly Interest Advanced 125,591.93 9,623.41 135,215.34 Monthly Principal Advanced 8,812.22 3,836.83 12,649.05 Compensating Interest Payments made by Master Servicer 188.55 0.00 188.55 Realized Losses a) Due to Deficient Valuations 0.00 0.00 0.00 b) Liquidated Mortgage Loans 0.00 0.00 0.00 Scheduled Principal 146,179.56 65,435.98 211,615.54 Principal Prepayments a) Principal amount received from Net Liquidation Proceeds 0.00 0.00 0.00 b) All other principal received during related Prepayment Period 816,646.08 7,909.77 824,555.85 c) Principal amount received in connection with the purchase of Mortgage Loans 0.00 0.00 0.00 d) Principal received from Insurance Proceeds 0.00 0.00 0.00 ----------- ----------- ----------- 816,646.08 7,909.77 824,555.85 - --------------------------------------------------------------------------------------------------------------------------------
6 (C) COPYRIGHT 1997 Bankers Trust Company ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-2 REMIC STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------------------------------------------------------- Distribution Date: July 25, 1997 - -------------------------------------------------------------------------------------------------------------------------------- DELINQUENT LOAN 30-60 61-90 91 + INFORMATION: DAYS DAYS DAYS TOTAL - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP I 2,434,538.25 0.00 0.00 2,434,538.25 NUMBER OF LOANS - LOAN GROUP I 13 0 0 13 - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP II 78,759.96 0.00 0.00 78,759.96 NUMBER OF LOANS - LOAN GROUP II 1 0 0 1 - -------------------------------------------------------------------------------------------------------------------------------- FORCLOSURE LOAN INFORMATION: - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP I 0.00 0.00 0.00 0.00 NUMBER OF LOANS - LOAN GROUP I 0 0 0 0 - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP II 0.00 0.00 0.00 0.00 NUMBER OF LOANS - LOAN GROUP II 0 0 0 0 - -------------------------------------------------------------------------------------------------------------------------------- BANKRUPTCY LOAN INFORMATION: - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP I 0.00 0.00 0.00 0 NUMBER OF LOANS - LOAN GROUP I 0 0 0 0.00 - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP II 0.00 0.00 0.00 0 NUMBER OF LOANS - LOAN GROUP II 0 0 0 0.00 - -------------------------------------------------------------------------------------------------------------------------------- REO LOAN INFORMATION: - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP I 0.00 0.00 0.00 198,349.52 NUMBER OF LOANS - LOAN GROUP I 0 0 0 2 - -------------------------------------------------------------------------------------------------------------------------------- PRINCIPAL BALANCE - LOAN GROUP II 0.00 0.00 0.00 0.00 NUMBER OF LOANS - LOAN GROUP II 0 0 0 0 - -------------------------------------------------------------------------------------------------------------------------------- GROUP I GROUP II TOTAL ----------------------------------------- Book Value of all REO Property 0.00 0.00 0.00 Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1,770 222 1,992 - -------------------------------------------------------------------------------------------------------------------------------- AGGREGATE REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS - -------------------------------------------------------------------------------------------------------------------------------- Class Aggregate Amount Class Aggregate Amount ----- ---------------- ----- ---------------- A-I-1 0.00 A-II 0.00 A-I-2 0.00 B-1 0.00 A-I-3 0.00 B-2 0.00 A-I-4 0.00 B-3 0.00 A-I-5 0.00 PO 0.00 A-I-6 0.00 B-4 0.00 A-I-7 0.00 B-5 0.00 A-I-8 0.00 B-6 0.00 A-I-9 0.00 R-I 0.00 - -------------------------------------------------------------------------------------------------------------------------------- GROUP I GROUP II ------------------------------ Applicable Senior Percentage 93.74% 93.68% Applicable Subordinate Percentage 6.26% 6.32% Applicable Senior Prepayment Percentage 100.00% 100.00% Applicable Subordinate Prepayment Percentage 0.00% 0.00% WAC 9.08% 8.61% WAMM 353 171 - --------------------------------------------------------------------------------------------------------------------------------
7 (C) COPYRIGHT 1997 Bankers Trust Company -----END PRIVACY-ENHANCED MESSAGE-----