-----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, SPlCM7LfI6F95UZv+MBXbpKQnyPfGUGoL1tig6cRrOlMiVbw6qycymqLCc780fIj cnxvErFd5uuovsFDxa3CjA== 0001020242-98-000031.txt : 19980330 0001020242-98-000031.hdr.sgml : 19980330 ACCESSION NUMBER: 0001020242-98-000031 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980127 ITEM INFORMATION: FILED AS OF DATE: 19980327 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPERIAL CMB TRUST SERIES 1996-1 CENTRAL INDEX KEY: 0001053341 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-06637-01 FILM NUMBER: 98575649 BUSINESS ADDRESS: STREET 1: BANKERS TRUST CO STREET 2: 3 PARK PLAZA 16TH FL CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 7142537606 MAIL ADDRESS: STREET 1: 3 PARK PLAZA STREET 2: 16TH FL CITY: IRVINE STATE: CA ZIP: 92614 8-K 1 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): January 27, 1998 IMH ASSETS CORP. (as depositor under the Trust Agreement, dated as of August 1, 1996, and pursuant to which an Indenture was entered into, providing for , inter alia, the issuance of Collateralized Mortgage Bonds, Series 1996-1). IMPERIAL CMB TRUST SERIES 1996-1 (Exact name of Registrant as specified in its Charter) CALIFORNIA (State or Other Jurisdiction of Incorporation) 333-6637 33-0705301 (Commission File Number) (I.R.S. Employer Identification No.) 20371 IRVINE AVENUE SANTA ANA HEIGHTS, CALIFORNIA 92707 (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 December 26, 1997. Monthly Remittance Statement to the Certificateholders dated as of January 27, 1998. Monthly Remittance Statement to the Certificateholders dated as of February 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 August 1, 1996. Date: March 23, 1998 By: /s/ Judy L. Gomez Judy L. Gomez Assistant Vice President EXHIBIT INDEX Sequential Document Page Number Monthly Remittance Statement to the Certificateholders 2 dated as of December 26, 1997. Monthly Remittance Statement to the Certificateholders dated as of January 27, 1998. 5 Monthly Remittance Statement to the Certificateholders dated as of February 25, 1998. 7 PAYMENT DATE STATEMENT Distribution Date: December 26, 1997 DELINQUENCY AND 30 TO 59 60 TO 89 90 AND OVER LOAN INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE- GROUP 1 4,733,623.33 837,360.24 243,134.99 5,814,118.56 PRINCIPAL BALANCE- GROUP 2 2,418,461.59 348,168.56 268,590.88 3,035,221.03 PRINCIPAL BALANCE-TOTAL 7,152,084.92 1,185,528.80 511,725.87 8,849,339.59 PERCENTAGE OF POOL BALANCE 5.2182% 0.8650% 0.3734% 6.4566% NUMBER OF LOANS-GROUP 1 39 8 2 49 NUMBER OF LOANS-GROUP 2 22 4 1 27 NUMBER OF LOANS-TOTAL 61 12 3 76 PERCENTAGE OF LOANS 4.5796% 0.9009% 0.2252% 5.7057% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 177,955.47 675,309.36 3,286,945.61 4,140,210.44 PRINCIPAL BALANCE- GROUP 2 0.00 27,816.83 2,052,223.78 2,247,657.26 PRINCIPAL BALANCE-TOTAL 177,955.47 703,126.19 5,339,169.39 6,387,867.70 PERCENTAGE OF POOL BALANCE 0.1298% 0.5130% 3.8955% 4.6606% NUMBER OF LOANS- GROUP 1 2 8 37 47 NUMBER OF LOANS- GROUP 2 0 1 20 22 NUMBER OF LOANS-TOTAL 2 9 57 69 PERCENTAGE OF LOANS 0.1502% 0.6757% 4.2793% 5.1802% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 27,162.08 0.00 2,770,353.06 3,880,517.60 PRINCIPAL BALANCE- GROUP 2 0.00 104,555.82 1,268,795.54 1,948,210.11 PRINCIPAL BALANCE-TOTAL 27,162.08 104,555.82 4,039,148.60 5,828,727.71 PERCENTAGE OF POOL BALANCE 0.0198% 0.0763% 2.9470% 4.2527% NUMBER OF LOANS- GROUP 1 1 0 27 33 NUMBER OF LOANS- GROUP 2 0 1 12 17 NUMBER OF LOANS-TOTAL 1 1 39 50 PERCENTAGE OF LOANS 0.0751% 0.0751% 2.9279% 3.7538% REO LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 0.00 0.00 222,192.90 222,192.90 PRINCIPAL BALANCE- GROUP 2 0.00 0.00 1,051,636.88 1,051,636.88 PRINCIPAL BALANCE-TOTAL 0.00 0.00 1,273,829.78 1,273,829.78 PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.9294% 0.9294% NUMBER OF LOANS- GROUP 1 0 0 3 3 NUMBER OF LOANS- GROUP 2 0 0 11 11 NUMBER OF LOANS-TOTAL 0 0 14 14 PERCENTAGE OF LOANS 0.0000% 0.0000% 1.0511% 1.0511% ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED,IF ANY) AGGREGATE COLLECTIONS OF NET INT. W/ RESPECT TO THE MORTGAGE LOANS: 691,307.47 AGGREGATE COLLECTIONS OF PRIN. W/ RESPECT TO THE MORTGAGE LOANS: 7,394,199.54 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 8,085,237.01 CURRENT PERIOD INTEREST PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 705,917.73 CURRENT PERIOD PRIN PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 7,008,664.28 CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 0.00 CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00 CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY THE BOND INSURER: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 137,059,712.47 CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.4639% CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 1 322 CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 2 340 CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,014,764.24 CURRENT PERIOD SUBORDINATED AMOUNT: 9,014,764.24 CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 537,277.35 CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 416,557.27 AMOUNT OF PRIN. ADVANCES MADE W/ RESPECT TO THE RELATED PMT. DATE: 31,022.01 AMOUNT OF INT. ADVANCES MADE W/ RESPECT TO THE RELATED PMT.DATE: 576,614.07 AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 607,636.08 AMOUNT OF COMPENSATING INT. MADE WITH RESPECT TO THE RELATED PMT.: 30,868.49 CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00 CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00 MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2101% AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2101% AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1332 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING: 34 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 4,698,911.20 AGGREGATE AMT. OF REALIZED LOSSES FOR THE RELATED PMT. DATE: 114,807.88 CUMULATIVE AMT. OF REALIZED LOSSES SINCE THE CLOSING DATE: 304,979.65 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 IMH ASSETS CORP. IMPERIAL CMB TRUST SERIES 1996-1 TRUST CERTIFICATES SERIES 1996-1 STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL CERTIFICATES 0.00 0.00 0.00 0.00 Totals 0.00 0.00 0.00 0.00 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE CERTIFICATES 0.00 0.00 0.00 0.00 Totals 0.00 0.00 0.00 0.00 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL CERTIFICATES 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT CERTIFICATES 0.00000 0.000000 0.000000 Seller: ICI FUNDING CORP. Administrator: Joseph Murphy Servicer: ICI FUNDING CORP. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: December 31, 1998 Irvine, CA 92714 Distribution Date: January 26, 1998 Factor Information (800)735-7777 IMH ASSETS CORP. IMPERIAL CMB TRUST SERIES 1996-1 COLLATERALIZED MORTGAGE BONDS SERIES 1996-1 STATEMENT TO BOND HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL BONDS 259,813,919.00 128,044,948.23 709,257.61 6,360,147.07 Totals 259,813,919.00 128,044,948.23 709,257.61 6,360,147.07 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE BONDS 7,069,404.68 0.00 0.00 121,684,801.16 Totals 7,069,404.68 0.00 0.00 121,684,801.16 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BONDS 452628AA8 492.833289 2.729868 24.479624 27.209492 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT BONDS 468.353665 6.445000% 6.007500% Seller: ICI FUNDING CORP. Administrator: Joseph Murphy Servicer: ICI FUNDING CORP. Bankers Trust Company Lead Underwriter: SALOMON BROTHERS INC 3 Park Plaza Record Date: December 31, 1998 Irvine, CA 92714 Distribution Date: January 26, 1998 Factor Information (800)735-7777 PAYMENT DATE STATEMENT Distribution Date: FEBRUARY 25, 1997 DELINQUENCY AND 30 TO 59 60 TO 89 90 AND OVER LOAN INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE- GROUP 1 4,380,760.12 1,303,584.42 307,381.38 5,991,725.92 PRINCIPAL BALANCE- GROUP 2 3,458,648.10 74,523,.76 0.00 3,533,171.86 PRINCIPAL BALANCE-TOTAL 7,839,408.22 1,378,108.18 307,381.38 9,524,897.78 PERCENTAGE OF POOL BALANCE 5.9847% 1.0521% 0.2347% 7.2715% NUMBER OF LOANS-GROUP 1 43 11 4 58 NUMBER OF LOANS-GROUP 2 34 1 0 35 NUMBER OF LOANS-TOTAL 77 12 4 93 PERCENTAGE OF LOANS 6.0109% 0.9368% 0.3123% 7.2600% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 0.00 575,091.90 4,588,720.84 5,163,812.74 PRINCIPAL BALANCE- GROUP 2 0.00 0.00 1,547,664.49 1,874,261.52 PRINCIPAL BALANCE-TOTAL 0.00 575,091.90 6,136,385.33 7,038,074.26 PERCENTAGE OF POOL BALANCE 0.0000% 0.4390% 4.6846% 5.3730% NUMBER OF LOANS- GROUP 1 0 4 49 53 NUMBER OF LOANS- GROUP 2 0 0 17 20 NUMBER OF LOANS-TOTAL 0 4 66 73 PERCENTAGE OF LOANS 0.0000% 0.3123% 5.1522% 5.6987% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 0.00 27,155.75 2,593,749.73 3,848,674.90 PRINCIPAL BALANCE- GROUP 2 0.00 104,510.00 1,365,332.47 2,044,491.97 PRINCIPAL BALANCE-TOTAL 0.00 131,665.75 3,959,082.20 5,893,166.87 PERCENTAGE OF POOL BALANCE 0.0000% 0.1005% 3.0224% 4.4989% NUMBER OF LOANS- GROUP 1 0 1 26 33 NUMBER OF LOANS- GROUP 2 0 1 12 17 NUMBER OF LOANS-TOTAL 0 2 38 50 PERCENTAGE OF LOANS 0.0000% 0.1561% 2.9664% 3.9032% REO LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 0.00 0.00 222,,109.31 222,109.31 PRINCIPAL BALANCE- GROUP 2 0.00 0.00 882,226.91 882,226.91 PRINCIPAL BALANCE-TOTAL 0.00 0.00 1,104,336.22 1,104,336.22 PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.8431% 0.8431% NUMBER OF LOANS- GROUP 1 0 0 3 3 NUMBER OF LOANS- GROUP 2 0 0 10 10 NUMBER OF LOANS-TOTAL 0 0 13 13 PERCENTAGE OF LOANS 0.0000% 0.0000% 1.0148% 1.0148% ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED,IF ANY) AGGREGATE COLLECTIONS OF NET INT. W/ RESPECT TO THE MORTGAGE LOANS:670,040.21 AGGREGATE COLLECTIONS OF PRIN. W/ RESPECT TO THE MORTGAGE LOANS: 5,858,763.39 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 6,528,803.60 CURRENT PERIOD INTEREST PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 709,257.61 CURRENT PERIOD PRIN PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 5,887,086.62 CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 473,060.45 CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00 CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY THE BOND INSURER: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 130,990,180.73 CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.4724% CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 1 321 CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 2 339 CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 9,614,943.33 CURRENT PERIOD SUBORDINATED AMOUNT: 9,305,379.57 CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 473,060.45 CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00 AMOUNT OF PRIN. ADVANCES MADE W/ RESPECT TO THE RELATED PMT. DATE:28,323.23 AMOUNT OF INT. ADVANCES MADE W/ RESPECT TO THE RELATED PMT.DATE: 531,245.15 AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 559,568.38 AMOUNT OF COMPENSATING INT. MADE WITH RESPECT TO THE RELATED PMT.: 28,402.83 CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00 CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00 MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2174% AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.2174% AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1281 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING: 34 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE:4,698,911.20 AGGREGATE AMT. OF REALIZED LOSSES FOR THE RELATED PMT. DATE: 182,445.12 CUMULATIVE AMT. OF REALIZED LOSSES SINCE THE CLOSING DATE: 487,424.77 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 IMH ASSETS CORP. IMPERIAL CMB TRUST SERIES 1996-1 TRUST CERTIFICATES SERIES 1996-1 STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL CERTIFICATES 0.00 0.00 0.00 0.00 Totals 0.00 0.00 0.00 0.00 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE CERTIFICATES 0.00 0.00 0.00 0.00 Totals 0.00 0.00 0.00 0.00 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL CERTIFICATES 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT CERTIFICATES 0.00000 0.000000 0.000000 Seller: ICI FUNDING CORP. Administrator: Joseph Murphy Servicer: ICI FUNDING CORP. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: January 30, 1998 Irvine, CA 92714 Distribution Date: February 25, 1997 Factor Information (800)735-7777 IMH ASSETS CORP. IMPERIAL CMB TRUST SERIES 1996-1 COLLATERALIZED MORTGAGE BONDS SERIES 1996-1 STATEMENT TO BOND HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL BONDS 259,813,919.00 121,684,801.16 603,423.28 5,708,557.23 Totals 259,813,919.00 121,684,801.16 603,423.28 5,708,557.23 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE BONDS 6,311,980.51 0.00 0.00 115,976,243.93 Totals 6,311,980.51 0.00 0.00 115,976,243.93 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BONDS 452628AA8 468.353665 2.322521 21.971714 24.294235 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT BONDS 446.381950 6.070000% 6.007500% Seller: ICI FUNDING CORP. Administrator: Joseph Murphy Servicer: ICI FUNDING CORP. Bankers Trust Company Lead Underwriter: SALOMON BROTHERS INC 3 Park Plaza Record Date: January 30, 1998 Irvine, CA 92714 Distribution Date: February 25, 1998 Factor Information (800)735-7777 PAYMENT DATE STATEMENT Distribution Date: FEBRUARY 25, 1997 DELINQUENCY AND 30 TO 59 60 TO 89 90 AND OVER LOAN INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE- GROUP 1 5,784,106.31 1,241,432.17 340,821.42 7,366,359.90 PRINCIPAL BALANCE- GROUP 2 3,010,841.00 762,387,.28 49,580,.26 3,822,808.54 PRINCIPAL BALANCE-TOTAL 8,794,947.31 2,003,819.45 390,401.68 11,189,168.44 PERCENTAGE OF POOL BALANCE 6.9956% 1.5938% 0.3105% 8.8999% NUMBER OF LOANS-GROUP 1 48 12 6 66 NUMBER OF LOANS-GROUP 2 28 4 1 33 NUMBER OF LOANS-TOTAL 76 16 7 99 PERCENTAGE OF LOANS 6.1638% 1.2976% 0.5677% 8.0292% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 250,186.94 0.00 5,302,198.47 5,552,385.41 PRINCIPAL BALANCE- GROUP 2 0.00 389,530.34 1,454,898.11 1,844,428.45 PRINCIPAL BALANCE-TOTAL 250,186.94 389,530.34 6,757,096.58 7,396,813.86 PERCENTAGE OF POOL BALANCE 0.1990% 0.3098% 5.3746% 5.8835% NUMBER OF LOANS- GROUP 1 1 0 54 55 NUMBER OF LOANS- GROUP 2 0 5 15 20 NUMBER OF LOANS-TOTAL 1 5 69 75 PERCENTAGE OF LOANS 0.0811% 0.4055% 5.5961% 6.0827% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 395,865.96 212,971.24 2,965,878.99 4,599,498.25 PRINCIPAL BALANCE- GROUP 2 0.00 0.00 1,419,729.22 2,078,075.44 PRINCIPAL BALANCE-TOTAL 395,865.96 212,971.24 4,385,608.21 6,677,573.69 PERCENTAGE OF POOL BALANCE 0.3149% 0.1694% 3.4883% 5.3114% NUMBER OF LOANS- GROUP 1 1 2 25 36 NUMBER OF LOANS- GROUP 2 0 0 12 17 NUMBER OF LOANS-TOTAL 1 2 37 53 PERCENTAGE OF LOANS 0.0811% 0.1622% 3.0008% 4.2985% REO LOAN INFORMATION: PRINCIPAL BALANCE- GROUP 1 0.00 0.00 470,385.03 470,385.03 PRINCIPAL BALANCE- GROUP 2 40,953.74 0.00 750,633.37 832,540.85 PRINCIPAL BALANCE-TOTAL 0.00 0.00 1,221,018.40 1,261,972.14 PERCENTAGE OF POOL BALANCE 0.0000% 0.0000% 0.9712% 1.0038% NUMBER OF LOANS- GROUP 1 0 0 5 5 NUMBER OF LOANS- GROUP 2 0 0 9 10 NUMBER OF LOANS-TOTAL 0 0 14 15 PERCENTAGE OF LOANS 0.0000% 0.0000% 1.1354% 1.2165% ADDITIONAL INFORMATION RELATING TO ANY REO PROPERTY: (SEE ATTACHED,IF ANY) AGGREGATE COLLECTIONS OF NET INT. W/ RESPECT TO THE MORTGAGE LOANS: 608,432.73 AGGREGATE COLLECTIONS OF PRIN. W/ RESPECT TO THE MORTGAGE LOANS: 5,109,629.71 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 5,718,062.44 CURRENT PERIOD INTEREST PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 603,423.28 CURRENT PERIOD PRIN PMT. AMOUNT PAYABLE TO THE BONDHOLDERS: 5,138,198.33 CURRENT PERIOD SUBORDINATION INCREASE AMOUNT PAYABLE TO THE BONDHOLDERS: 570,358.90 CURRENT PERIOD AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT CUMULATIVE AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT: 0.00 CURRENT PERIOD INSURED PAYMENTS MADE BY BOND INSURER UNDER THE BOND INSURANCE POLICY: 0.00 CURRENT CUMULATIVE UNREIMBURSED INSURED PAYMENTS MADE BY THE BOND INSURER: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 125,721,965.61 CURRENT WEIGHTED AVERAGE NET MORTGAGE RATE: 10.5093% CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 1 320 CURRENT WEIGHTED AVERAGE MONTHS TO MATURITY-GROUP 2 338 CURRENT PERIOD REQUIRED SUBORDINATED AMOUNT: 10,472,689.27 CURRENT PERIOD SUBORDINATED AMOUNT: 9,745,721.68 CURRENT PERIOD NET MONTHLY EXCESS CASHFLOW: 570,358.90 CURRENT PERIOD SUBORDINATION REDUCTION AMOUNT: 0.00 AMOUNT OF PRIN. ADVANCES MADE W/ RESPECT TO THE RELATED PMT. DATE: 28,568.62 AMOUNT OF INT. ADVANCES MADE W/ RESPECT TO THE RELATED PMT.DATE: 39,506.51 AGGREGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 68,075.13 AMOUNT OF COMPENSATING INT. MADE WITH RESPECT TO THE RELATED PMT.: 21,221.87 CURRENT PERIOD BOND INTEREST SHORTFALL AMOUNT: 0.00 CURRENT CUMULATIVE UNPAID BOND INTEREST SHORTFALL AMOUNT: 0.00 MAXIMUM BOND INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.6612% AVAILABLE FUNDS INTEREST RATE FOR THE RELATED PAYMENT DATE: 10.6612% AGGREGATE NUMBER OF MORTGAGE LOANS AT END OF PERIOD 1233 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING: 34 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT FOR THE RELATED PMT. DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN PURCHASE AGREEMENT SINCE THE CLOSING DATE: 4,698,911.20 AGGREGATE AMT. OF REALIZED LOSSES FOR THE RELATED PMT. DATE: 130,016.79 CUMULATIVE AMT. OF REALIZED LOSSES SINCE THE CLOSING DATE: 617,441.56 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 -----END PRIVACY-ENHANCED MESSAGE-----