-----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, HtoNHzqRquWmhrnKGL5/qoDBzxjQzqow3Hlj1WgPHIcXfb/Ex5fqNGD7SGTzj+uJ lVLJvl0qDoslZEqEYBciBA== 0001020242-98-000017.txt : 19980326 0001020242-98-000017.hdr.sgml : 19980326 ACCESSION NUMBER: 0001020242-98-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19971226 ITEM INFORMATION: FILED AS OF DATE: 19980325 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ICIFC SECURED ASSETS CORP MORT PS THR CERT SER 1997-1 CENTRAL INDEX KEY: 0001053342 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 330753585 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-08439-02 FILM NUMBER: 98573268 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 FORMER COMPANY: FORMER CONFORMED NAME: IMPERIAL CMB TRUST SERIES 1997-1 DATE OF NAME CHANGE: 19980121 8-K 1 March 24, 1998 Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: ICIFC Secured Assets Corp. Mortgage Pass-Through Certificates, Series 1997-1; File No. 333-8439. Ladies and Gentlemen: Enclosed herewith for filing on behalf of ICIFC Secured Assets Corp. (as Company) under the Pooling and Servicing Agreement, dated as of September 1, 1997, among ICI Funding Corporation, a California corporation ("ICI Funding"), as master servicer (the "Master Servicer"), and Bankers Trust Company of California, N.A., a national banking association, as trustee ("Trustee"), providing for, inter alia, the issuance of Mortgage Pass-Through Certificates, Series 1997-1 is a Current Report on Form 8-K. The Series 1997-1 Mortgage Pass-Through Certificates will consist of the classes of Certificates offered hereby (the "Offered Certificates") in addition to the Class PO, Class B-4, B-5, Class B-6, Class R-1 and Class R-2 Certificates (the "Other Certificates"), which are not being offered. The Certificates will evidence in the aggregate the entire beneficial ownership interest in the Trust. The Trust will consist of (i) the Mortgage Loans, (ii) such assets as from time to time are identified and deposited in respect of the Mortgage Loans in the account (The "Protected Account") established by the Master Servicer for the collection of payments on the Mortgage Loans and in the Certificate Account and belonging to the Trust, (iii) property acquired by foreclosure of such Mortgage Loans or by deed of trust in lieu of foreclosure (iv) any applicable Primary Insurance Policies and standard hazard insurance policies,; and (v) all proceeding and foregoing. The Certificates were registered under the Securities Act of 1933. As a result, the Registrant is subject to the filing requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Trust intends to fulfill these filing requirements in the manner described herein: The agent for Registrant will file, promptly after each Distribution Date as defined in the Indenture Agreement), a Current Report on Form 8-K in substantially the form enclosed herewith, including as an exhibit thereto the applicable Distribution Date Report. Each such Current Report will also disclose under Item 5 any matter occurring during the relevant reporting period which would be reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q. Within 90 days after the end of each fiscal year, the agent for the Registrant will file an annual report of Form 10-K, which responds to Items 2, 3, and 4 of Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and Item 14 of Part IV thereof, and include as exhibits thereto certain information from the Distribution Date reports aggregated for such year and a copy of the independent accountants' annual compliance statement required under the Pooling and Servicing Agreement. The agent for the Registrant will follow the above procedures except Section 15(d) of the Exchange Act have been suspended pursuant to such Section. In such event, the agent for the Registrant will file a Form 15 as required under Rule 15d-6. Should you wish to discuss the above filing procedures, please call Judy L. Gomez at (714) 253-7562. Sincerely, /s/ Judy L. Gomez Assistant Vice President Bankers Trust Company of California, N.A. S.E.C. Reporting Agent for ICIFC Secured Assets Corp. Mortgage Pass-Through Certificates, Series 1997-1. 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): December 26, 1997 ICIFC SECURED ASSETS CORP. (as company under a Pooling and Servicing Agreement, dated as of March 1, 1997, providing for inter alia, the issuance of Mortgage Pass-Through Certificates, Series 1997-1). 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) (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. 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 Pooling and Servicing Agreement, dated as of March 1, 1997. Date: March 24, 1998 By: /s/ Judy L. Gomez Judy L. Gomez Assistant Vice President EXHIBIT INDEX Sequential Document Page Number Monthly Remittance Statement to the Certificateholders dated as of December 26, 1997. 4 Monthly Remittance Statement to the Certificateholders dated as of January 27, 1998. 12 Monthly Remittance Statement to the Certificateholders dated as of February 25, 1998. 20 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: December 26, 1997 Class Interest Accrued Interest Shortfall A-1 76,189.69 0.00 A-2 384,583.88 0.00 A-3 110,621.79 0.00 A-4 125,871.67 0.00 A-5 94,236.00 0.00 A-6 101,439.58 0.00 A-7 143,433.13 0.00 A-8 35,598.33 0.00 A-9 43,090.00 0.00 A-10 362,448.13 0.00 X 183,879.06 0.00 B-1 40,449.40 0.00 B-2 17,978.22 0.00 B-3 13,485.27 0.00 B-4 15,279.89 0.00 B-5 8,088.60 0.00 B-6 8,043.12 0.00 R-1 0.00 0.00 Monthly Interest Advanced 433,478.84 Monthly Principal Advanced 42,351.01 Compensatory Interest Payments made by Master Servicer 13,137.07 Realized Losses a) Due to Deficient Valuations 0.00 b) Liquidated Mortgage Loans 0.00 Scheduled Principal 189,883.56 Principal Prepayments a) Received from Liquidated Mortgage Loans 0.00 b) All other principal received during related Prepayment Period 5,048,837.01 c) Principal amount received from Net Liquidation Proceeds 0.00 Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1717 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: February 25, 1998 DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER INFORMATION DAYS DAYS DAYS TOTAL SCHEDULED PRINCIPAL BAL. 5,102,327.20 956,930.65 265,987.68 6,325,245.53 NUMBER OF LOANS 35 6 2 43 LOANS IN FORECLOSURE SCHEDULED PRINCIPAL BAL. 242,428.35 107,275.68 2,301,124.16 2,652,314.14 NUMBER OF LOANS 2 1 13 16 LOANS IN BANKRUPTCY SCHEDULED PRINCIPAL BAL. 0.00 00.00 148,678.86 148,678.86 NUMBER OF LOANS 0 0 1 1 LOANS IN REO STATUS SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 NUMBER OF LOANS 0 0 0 0 Book Value of REO Property 0.00 AGGREGATED REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS A-2 0.00 A-3 0.00 A-4 0.00 A-5 0.00 A-6 0.00 A-7 0.00 A-8 0.00 A-9 0.00 A-10 0.00 PO 0.00 X 0.00 B-1 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 R-1 0.00 Applicable Senior Percentage 93.47% Applicable Subordinate Percentage 6.53% Applicable Senior Prepayment Percentage 100.00% Applicable Subordinate Prepayment Percentage 0.00% Weighted Average Coupon Rate 8.91% Weighted Average Months to Maturity 334 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC I STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A-1 32,898,000.00 19,846,125.95 110,807.54 1,927,529.31 A-2 67,450,000.00 56,486,155.99 423,646.17 1,619,164.46 A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 P0 162,446.00 153,359.85 0.00 755.40 X 270,718,591.23 247,104,946.42 191,398.02 0.00 B-1 6,311,000.00 6,274,759.48 40,524.49 4,796.58 B-2 2,805,000.00 2,788,892.48 18,011.60 2,131.90 B-3 2,104,000.00 2,091,917.93 13,510.30 1,599.12 B-4 2,384,000.00 2,370,310.03 15,308.25 1,811.93 B-5 1,262,000.00 1,254,753.05 8,103.61 959.17 B-6 1,262,766.00 1,255,514.64 8,108.53 959.75 R-1 100.00 0.00 0.00 0.00 Totals 280,491,312.00 256,373,789.40 1,846,157.14 3,559,707.62 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE A-1 2,038,336.85 0.00 0.00 17,918,596.64 A-2 2,042,810.63 0.00 0.00 54,866,991.53 A-3 110,621.79 0.00 0.00 19,379,000.00 A-4 125,871.67 0.00 0.00 21,578,000.00 A-5 94,236.00 0.00 0.00 15,706,000.00 A-6 101,439.58 0.00 0.00 16,675,000.00 A-7 143,433.13 0.00 0.00 22,209,000.00 A-8 35,598.33 0.00 0.00 5,512,000.00 A-9 43,090.00 0.00 0.00 6,672,000.00 A-10 362,448.13 0.00 0.00 56,121,000.00 P0 755.40 0.00 0.00 152,604.45 X 191,398.02 0.00 0.00 243,652,986.88 B-1 45,321.07 0.00 0.00 6,269,962.90 B-2 20,143.50 0.00 0.00 2,786,760.58 B-3 15,109.42 0.00 0.00 2,090,318.81 B-4 17,120.18 0.00 0.00 2,368,498.10 B-5 9,062.78 0.00 0.00 1,253,793.88 B-6 9,068.28 0.00 0.00 1,254,554.89 R-1 0.00 0.00 0.00 0.00 Totals 5,405,864.76 0.00 0.00 252,814,081.78 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL A-1 44926MAA8 603.262385 3.368215 58.591079 61.959294 A-2 44926MAB6 837.452276 6.280892 24.005403 30.286295 A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 A-4 44296MAD2 1,000.000000 5.833333 0.000000 5.833333 A-5 44926MAE0 1,000.000000 6.000000 0.000000 6.000000 A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 P0 44926MAV2 944.066644 0.000000 4.650161 4.650161 X 44926MAP5 912.774203 0.707000 0.000000 0.707000 B-1 44926MAL4 994.257563 6.421247 0.760035 7.181282 B-2 44926MAM2 994.257569 6.421248 0.760036 7.181283 B-3 44926MAN0 994.257571 6.421245 0.760038 7.181283 B-4 44926MAQ3 994.257563 6.421246 0.760038 7.181284 B-5 44926MAR1 994.257567 6.421244 0.760040 7.181284 B-6 44926MAS9 994.257558 6.421245 0.760038 7.181283 R-1 44926MAT7 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT A-1 544.671306 6.700000% 6.700000% A-2 813.446872 9.000000% 9.000000% A-3 1,000.000000 6.850000% 6.850000% A-4 1,000.000000 7.000000% 7.000000% A-5 1,000.000000 7.200000% 7.200000% A-6 1,000.000000 7.300000% 7.300000% A-7 1,000.000000 7.750000% 7.750000% A-8 1,000.000000 7.750000% 7.750000% A-9 1,000.000000 7.750000% 7.750000% A-10 1,000.000000 7.750000% 7.750000% P0 939.416483 0.000000% 0.000000% X 900.023104 0.925877% 0.924989% B-1 993.497528 7.750000% 7.750000% B-2 993.497533 7.750000% 7.750000% B-3 993.497533 7.750000% 7.750000% B-4 993.497525 7.750000% 7.750000% B-5 993.497528 7.750000% 7.750000% B-6 993.497521 7.750000% 7.750000% R-1 0.000000 0.000000 0.000000 Seller: ICIFC Secured Assets Corp. Administrator: Joseph Murphy Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: November 28, 1997 Irvine, CA 92714 Distribution Date: December 26, 1997 Factor Information (800)735-7777 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC II STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL II-A-1 32,898,000.00 19,846,125.95 142,998.23 1,927,529.31 II-A-2 67,450,000.00 56,486,155.99 407,002.36 1,619,164.46 II-A-3 19,379,000.00 19,379,000.00 139,632.42 0.00 II-A-4 21,578,000.00 21,578,000.00 155,476.98 0.00 II-A-5 15,706,000.00 15,706,000.00 113,167.18 0.00 II-A-6 16,675,000.00 16,675,000.00 120,149.16 0.00 II-A-7 22,209,000.00 22,209,000.00 160,023.56 0.00 II-A-8 5,512,000.00 5,512,000.00 39,715.87 0.00 II-A-9 6,672,000.00 6,672,000.00 48,074.08 0.00 II-A-10 56,121,000.00 56,121,000.00 404,371.29 0.00 II-PO 162,446.00 153,359.85 0.00 755.40 II-B-1 6,311,000.00 6,274,759.48 45,211.82 4,796.58 II-B-2 2,805,000.00 2,788,892.48 20,094.97 2,131.90 II-B-3 2,104,000.00 2,091,917.93 15,072.99 1,599.12 II-B-4 2,384,000.00 2,370,310.03 17,078.91 1,811.93 II-B-5 1,262,000.00 1,254,753.05 9,040.93 959.17 II-B-6 1,262,766.00 1,255,514.64 9,046.42 959.75 II-R-1 100.00 0.00 0.00 0.00 R-2 100.00 0.00 0.00 0.00 Totals 280,491,412.00 256,373,789.40 1,846,157.14 3,559,707.62 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE II-A-1 2,070,527.54 0.00 0.00 17,918,596.64 II-A-2 2,026,166.82 0.00 0.00 54,866,991.53 II-A-3 139,632.42 0.00 0.00 19,379,000.00 II-A-4 155,476.98 0.00 0.00 21,578,000.00 II-A-5 113,167.18 0.00 0.00 15,706,000.00 II-A-6 120,149.16 0.00 0.00 16,675,000.00 II-A-7 160,023.56 0.00 0.00 22,209,000.00 II-A-8 39,715.87 0.00 0.00 5,512,000.00 II-A-9 48,074.08 0.00 0.00 6,672,000.00 II-A-10 404,371.29 0.00 0.00 56,121,000.00 II-PO 755.40 0.00 0.00 152,604.45 II-B-1 50,008.40 0.00 0.00 6,269,962.90 II-B-2 22,226.84 0.00 0.00 2,786,760.58 II-B-3 16,672.11 0.00 0.00 2,090,318.81 II-B-4 18,890.84 0.00 0.00 2,368,498.10 II-B-5 10,000.10 0.00 0.00 1,253,793.88 II-B-6 10,006.17 0.00 0.00 1,254,554.89 II-R-1 0.00 0.00 0.00 0.00 Totals 5,405,864.76 0.00 0.00 252,814,081.78 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL II-A-1 IC9701201 603.262385 4.346715 58.591079 62.937794 II-A-2 IC9701202 837.452276 6.034134 24.005403 30.039538 II-A-3 IC9701203 1,000.000000 7.205347 0.000000 7.205347 II-A-4 IC9701204 1,000.000000 7.205347 0.000000 7.205347 II-A-5 IC9701205 1,000.000000 7.205347 0.000000 7.205347 II-A-6 IC9701206 1,000.000000 7.205347 0.000000 7.205347 II-A-7 IC9701207 1,000.000000 7.205347 0.000000 7.205347 II-A-8 IC9701208 1,000.000000 7.205347 0.000000 7.205347 II-A-9 IC9701209 1,000.000000 7.205347 0.000000 7.205347 II-A-10 IC9701210 1,000.000000 7.205347 0.000000 7.205347 II-PO IC9701213 944.066644 0.000000 4.650161 4.650161 II-B-1 IC9701215 994.257563 0.716397 0.760035 1.476432 II-B-2 IC9701216 994.257569 0.716397 0.760036 1.476433 II-B-3 IC9701217 994.257571 0.716397 0.760038 1.476435 II-B-4 IC9701218 994.257563 0.716397 0.760038 1.476435 II-B-5 IC9701219 994.257567 0.716397 0.760040 1.476437 II-B-6 IC9701220 994.257558 0.716397 0.760038 1.476435 II-R-1 IC9701221 0.000000 0.000000 0.000000 0.000000 R-2 44926MAU4 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT II-A-1 544.671306 8.646417% 8.642020% II-A-2 813.446872 8.646417% 8.642020% II-A-3 1,000.000000 8.646417% 8.642020% II-A-4 1,000.000000 8.646417% 8.642020% II-A-5 1,000.000000 8.646417% 8.642020% II-A-6 1,000.000000 8.646417% 8.642020% II-A-7 1,000.000000 8.646417% 8.642020% II-A-8 1,000.000000 8.646417% 8.642020% II-A-9 1,000.000000 8.646417% 8.642020% II-A-10 1,000.000000 8.646417% 8.642020% II-P0 939.416483 0.000000% 0.000000% II-B-1 993.497528 8.646417% 8.642020% II-B-2 993.497533 8.646417% 8.642020% II-B-3 993.497533 8.646417% 8.642020% II-B-4 993.497525 8.646417% 8.642020% II-B-5 993.497528 8.646417% 8.642020% II-B-6 993.497521 8.646417% 8.642020% II-R-1 0.000000 0.000000 0.000000 R-2 0.000000 0.000000 0.000000 Seller: ICIFC Secured Assets Corp. Administrator: Joseph Murphy Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: November 28, 1997 Irvine, CA 92714 Distribution Date: December 26, 1997 Factor Information (800)735-7777 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: December 26, 1997 Class Interest Accrued Interest Shortfall A-1 110,807.54 0.00 A-2 423,646.17 0.00 A-3 110,621.79 0.00 A-4 125,871.67 0.00 A-5 94,236.00 0.00 A-6 101,439.58 0.00 A-7 143,433.13 0.00 A-8 35,598.33 0.00 A-9 43,090.00 0.00 A-10 362,448.13 0.00 X 191,398.02 0.00 B-1 40,524.49 0.00 B-2 18,011.60 0.00 B-3 13,510.30 0.00 B-4 15,308.25 0.00 B-5 8,103.61 0.00 B-6 8,108.53 0.00 R-1 0.00 0.00 Monthly Interest Advanced 460,173.44 Monthly Principal Advanced 44,454.33 Compensatory Interest Payments made by Master Servicer 14,079.64 Realized Losses a) Due to Deficient Valuations 0.00 b) Liquidated Mortgage Loans 0.00 Scheduled Principal 196,204.93 Principal Prepayments a) Received from Liquidated Mortgage Loans 0.00 b) All other principal received during related Prepayment Period 3,363,502.69 c) Principal amount received from Net Liquidation Proceeds 0.00 Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1784 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: December 26, 1997 DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER INFORMATION DAYS DAYS DAYS TOTAL SCHEDULED PRINCIPAL BAL. 3,786,021.68 310,020.98 124,319.44 4,220,362.10 NUMBER OF LOANS 24 3 1 28 LOANS IN FORECLOSURE SCHEDULED PRINCIPAL BAL. 147,208.82 224,315.86 2,273,369.01 2,851,943.40 NUMBER OF LOANS 1 2 12 16 LOANS IN BANKRUPTCY SCHEDULED PRINCIPAL BAL. 0.00 0.00 335,284.52 335,284.52 NUMBER OF LOANS 0 0 1 1 LOANS IN REO STATUS SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 NUMBER OF LOANS 0 0 0 0 Book Value of REO Property 0.00 AGGREGATED REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS A-2 0.00 A-3 0.00 A-4 0.00 A-5 0.00 A-6 0.00 A-7 0.00 A-8 0.00 A-9 0.00 A-10 0.00 PO 0.00 X 0.00 B-1 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 R-1 0.00 Applicable Senior Percentage 93.75% Applicable Subordinate Percentage 6.26% Applicable Senior Prepayment Percentage 100.00% Applicable Subordinate Prepayment Percentage 0.00% Weighted Average Coupon Rate 8.90% Weighted Average Months to Maturity 336 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A-1 32,898,000.00 17,918,596.64 100,045.50 4,272,682.10 A-2 67,450,000.00 56,866,991.53 411,502.44 3,589,141.28 A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 P0 162,446.00 152,604.45 0.00 17,968.12 X 270,718,591.23 243,652,986.88 189,508.22 0.00 B-1 6,311,000.00 6,269,962.90 40,493.51 6,829.61 B-2 2,805,000.00 2,788,892.48 18,011.60 2,131.90 B-3 2,104,000.00 2,090,318.81 13,499.98 2,276.90 B-4 2,384,000.00 2,368,498.10 15,296.55 2,579.90 B-5 1,262,000.00 1,253,793.88 8,097.42 1,365.70 B-6 1,262,766.00 1,254,554.89 8,102.33 1,366.53 R-1 100.00 0.00 0.00 0.00 Totals 280,491,312.00 252,814,081.41 1,821,282.41 7,897,245.64 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE A-1 4,372,727.60 0.00 0.00 13,645,914.54 A-2 4,000,643.72 0.00 0.00 51,277,850.25 A-3 110,621.79 0.00 0.00 19,379,000.00 A-4 125,871.67 0.00 0.00 21,578,000.00 A-5 94,236.00 0.00 0.00 15,706,000.00 A-6 101,439.58 0.00 0.00 16,675,000.00 A-7 143,433.13 0.00 0.00 22,209,000.00 A-8 35,598.33 0.00 0.00 5,512,000.00 A-9 43,090.00 0.00 0.00 6,672,000.00 A-10 362,448.13 0.00 0.00 56,121,000.00 P0 17,968.12 0.00 0.00 134,636.33 X 189,508.22 0.00 0.00 236,741,402.90 B-1 47,323.12 0.00 0.00 6,263,133.29 B-2 21,033.33 0.00 0.00 2,783,725.08 B-3 15,776.88 0.00 0.00 2,088,041.91 B-4 17,876.45 0.00 0.00 2,365,918.20 B-5 9,463.12 0.00 0.00 1,252,428.18 B-6 9,468.86 7,801.71 0.00 1,254,554.89 R-1 0.00 0.00 0.00 0.00 Totals 9,718,528.05 7,801.71 0.00 244,909,034.43 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL A-1 44926MAA8 544.671306 3.041082 129.876652 132.917734 A-2 44926MAB6 837.446872 6.100852 53.211880 59.312731 A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 A-4 44296MAD2 1,000.000000 5.833333 0.000000 5.833333 A-5 44926MAE0 1,000.000000 6.000000 0.000000 6.000000 A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 P0 44926MAV2 939.416483 0.000000 110.609803 110.609803 X 44926MAP5 900.023104 0.700019 0.000000 0.700019 B-1 44926MAL4 993.497528 6.416338 1.082176 7.498514 B-2 44926MAM2 993.497533 6.416339 1.082175 7.498513 B-3 44926MAN0 993.497533 6.416340 1.082177 7.498517 B-4 44926MAQ3 993.497525 6.416338 1.082173 7.498511 B-5 44926MAR1 993.497528 6.416339 1.082171 7.498510 B-6 44926MAS9 993.497521 6.416335 1.082170 7.498505 R-1 44926MAT7 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT A-1 414.794654 6.700000% 6.700000% A-2 760.234993 9.000000% 9.000000% A-3 1,000.000000 6.850000% 6.850000% A-4 1,000.000000 7.000000% 7.000000% A-5 1,000.000000 7.200000% 7.200000% A-6 1,000.000000 7.300000% 7.300000% A-7 1,000.000000 7.750000% 7.750000% A-8 1,000.000000 7.750000% 7.750000% A-9 1,000.000000 7.750000% 7.750000% A-10 1,000.000000 7.750000% 7.750000% P0 828.806680 0.000000% 0.000000% X 874.492593 0.924958% 0.926442% B-1 992.415352 7.750000% 7.750000% B-2 992.415358 7.750000% 7.750000% B-3 992.415356 7.750000% 7.750000% B-4 992.415352 7.750000% 7.750000% B-5 992.415357 7.750000% 7.750000% B-6 986.237080 7.750000% 7.750000% R-1 0.000000 7.750000% 7.750000% Seller: ICIFC Secured Assets Corp. Administrator: Joseph Murphy Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: December 31, 1997 Irvine, CA 92714 Distribution Date: January 26, 1998 Factor Information (800)735-7777 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC II STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL II-A-1 32,898,000.00 17,918,596.64 129,164.23 4,272,682.10 II-A-2 67,450,000.00 54,866,991.53 395,502.66 3,589,141.28 II-A-3 19,379,000.00 19,379,000.00 139,691.39 0.00 II-A-4 21,578,000.00 21,578,000.00 155,542.63 0.00 II-A-5 15,706,000.00 15,706,000.00 113,214.97 0.00 II-A-6 16,675,000.00 16,675,000.00 120,199.90 0.00 II-A-7 22,209,000.00 22,209,000.00 160,091.13 0.00 II-A-8 5,512,000.00 5,512,000.00 39,732.64 0.00 II-A-9 6,672,000.00 6,672,000.00 48,094.38 0.00 II-A-10 56,121,000.00 56,121,000.00 404,542.04 0.00 II-PO 162,446.00 152,604.45 0.00 17,968.12 II-B-1 6,311,000.00 6,269,962.90 45,196.34 6,829.61 II-B-2 2,805,000.00 2,786,760.58 20,088.06 3,035.50 II-B-3 2,104,000.00 2,090,318.81 15,067.83 2,276.90 II-B-4 2,384,000.00 2,368,498.10 17,073.06 2,579.90 II-B-5 1,262,000.00 1,253,793.88 9,037.84 1,365.70 II-B-6 1,262,766.00 1,254,554.89 9,043.32 1,366.53 II-R-1 100.00 0.00 0.00 0.00 R-2 100.00 0.00 0.00 0.00 Totals 280,491,412.00 256,814,081.78 1,821,282.41 7,897,245.64 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE II-A-1 4,401,846.33 0.00 0.00 13,645,914.54 II-A-2 3,984,643.94 0.00 0.00 51,277,850.25 II-A-3 139,691.39 0.00 0.00 19,379,000.00 II-A-4 155,542.63 0.00 0.00 21,578,000.00 II-A-5 113,214.97 0.00 0.00 15,706,000.00 II-A-6 120,199.90 0.00 0.00 16,675,000.00 II-A-7 160,091.13 0.00 0.00 22,209,000.00 II-A-8 39,732.64 0.00 0.00 5,512,000.00 II-A-9 48,094.38 0.00 0.00 6,672,000.00 II-A-10 404,542.04 0.00 0.00 56,121,000.00 II-PO 17,968.12 0.00 0.00 134,636.33 II-B-1 52,025.95 0.00 0.00 6,263,133.29 II-B-2 23,123.56 0.00 0.00 2,783,725.08 II-B-3 17,344.73 0.00 0.00 2,088,041.91 II-B-4 19,652.96 0.00 0.00 2,365,918.20 II-B-5 10,403.54 0.00 0.00 1,252,428.18 II-B-6 10,409.85 7,801.71 0.00 1,254,386.65 II-R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 9,718,528.05 7,801.71 0.00 244,909,034.43 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL II-A-1 IC9701201 544.671306 3.926203 129.876652 133.802855 II-A-2 IC9701202 813.446872 5.863642 53.211880 59.075522 II-A-3 IC9701203 1,000.000000 7.208390 0.000000 7.208390 II-A-4 IC9701204 1,000.000000 7.208390 0.000000 7.208390 II-A-5 IC9701205 1,000.000000 7.208390 0.000000 7.208390 II-A-6 IC9701206 1,000.000000 7.208390 0.000000 7.208390 II-A-7 IC9701207 1,000.000000 7.208390 0.000000 7.208390 II-A-8 IC9701208 1,000.000000 7.208390 0.000000 7.208390 II-A-9 IC9701209 1,000.000000 7.208390 0.000000 7.208390 II-A-10 IC9701210 1,000.000000 7.208390 0.000000 7.208390 II-PO IC9701213 939.416483 0.000000 110.609803 110.609803 II-B-1 IC9701215 993.497528 0.716152 1.082176 1.798328 II-B-2 IC9701216 993.497533 0.716152 1.082175 1.798326 II-B-3 IC9701217 993.497533 0.716152 1.082177 1.798329 II-B-4 IC9701218 993.497525 0.716152 1.082173 1.798325 II-B-5 IC9701219 993.497528 0.716152 1.082171 1.798323 II-B-6 IC9701220 993.497521 0.716152 1.082170 1.798321 II-R-1 IC9701221 0.000000 0.000000 0.000000 0.000000 R-2 44926MAU4 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT II-A-1 414.794654 8.650068% 8.646048% II-A-2 760.234993 8.650068% 8.646048% II-A-3 1,000.000000 8.650068% 8.646048% II-A-4 1,000.000000 8.650068% 8.646048% II-A-5 1,000.000000 8.650068% 8.646048% II-A-6 1,000.000000 8.650068% 8.646048% II-A-7 1,000.000000 8.650068% 8.646048% II-A-8 1,000.000000 8.650068% 8.646048% II-A-9 1,000.000000 8.650068% 8.646048% II-A-10 1,000.000000 8.650068% 8.646048% II-P0 828.806680 0.000000% 0.000000% II-B-1 992.415352 8.650068% 8.646048% II-B-2 992.415358 8.650068% 8.646048% II-B-3 992.415356 8.650068% 8.646048% II-B-4 992.415352 8.650068% 8.646048% II-B-5 992.415357 8.650068% 8.646048% II-B-6 986.237080 8.650068% 8.646048% II-R-1 0.000000 0.000000 0.000000 R-2 0.000000 0.000000 0.000000 Seller: ICIFC Secured Assets Corp. Administrator: Joseph Murphy Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: December 31, 1997 Irvine, CA 92714 Distribution Date: January 26, 1998 Factor Information (800)735-7777 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: January 26, 1998 Class Interest Accrued Interest Shortfall A-1 100,045.50 0.00 A-2 411,502.44 0.00 A-3 110,621.79 0.00 A-4 125,871.67 0.00 A-5 94,236.00 0.00 A-6 101,439.58 0.00 A-7 143,433.13 0.00 A-8 35,598.33 0.00 A-9 43,090.00 0.00 A-10 362,448.13 0.00 X 189,508.22 0.00 B-1 40,493.51 0.00 B-2 17,997.83 0.00 B-3 13,499.98 0.00 B-4 15,296.55 0.00 B-5 8,097.42 0.00 B-6 8,102.33 0.00 R-1 0.00 0.00 Monthly Interest Advanced 421,725.23 Monthly Principal Advanced 42,584.14 Compensatory Interest Payments made by Master Servicer 24,122.67 Realized Losses a) Due to Deficient Valuations 0.00 b) Liquidated Mortgage Loans 0.00 Scheduled Principal 193,178.36 Principal Prepayments a) Received from Liquidated Mortgage Loans 205,500.74 b) All other principal received during related Prepayment Period 7,506,368.25 c) Principal amount received from Net Liquidation Proceeds 0.00 Number of Mortgage Loans (excluding REO Property) remaining as of the end related Due Period: 1743 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC STATEMENT TO CERTIFICATE HOLDERS Distribution Date: January 26, 1997 DELINQUENCY 30 TO 59 60 TO 89 90 AND OVER INFORMATION DAYS DAYS DAYS TOTAL SCHEDULED PRINCIPAL BAL. 4,394,944.48 983,083.17 233,942.20 5,611,969.85 NUMBER OF LOANS 29 7 1 37 LOANS IN FORECLOSURE SCHEDULED PRINCIPAL BAL. 107,334.07 94,443.68 2,499,666.80 3,185,459.06 NUMBER OF LOANS 1 1 15 19 LOANS IN BANKRUPTCY SCHEDULED PRINCIPAL BAL. 0.00 0.00 0.00 0.00 NUMBER OF LOANS 0 0 0 0 LOANS IN REO STATUS SCHEDULED PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 NUMBER OF LOANS 0 0 0 0 Book Value of REO Property 0.00 AGGREGATED REALIZED LOSSES FOR ALL PRIOR DISTRIBUTION DATES BY CLASS A-2 0.00 A-3 0.00 A-4 0.00 A-5 0.00 A-6 0.00 A-7 0.00 A-8 0.00 A-9 0.00 A-10 0.00 PO 0.00 X 0.00 B-1 0.00 B-3 0.00 B-4 0.00 B-5 0.00 B-6 0.00 R-1 0.00 Applicable Senior Percentage 93.66% Applicable Subordinate Percentage 6.34% Applicable Senior Prepayment Percentage 100.00% Applicable Subordinate Prepayment Percentage 0.00% Weighted Average Coupon Rate 8.90% Weighted Average Months to Maturity 33 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC I STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A-1 32,898,000.00 13,645,914.54 76,189.69 2,837,293.15 A-2 67,450,000.00 51,277,850.25 384,583.88 2,383,384.90 A-3 19,379,000.00 19,379,000.00 110,621.79 0.00 A-4 21,578,000.00 21,578,000.00 125,871.67 0.00 A-5 15,706,000.00 15,706,000.00 94,236.00 0.00 A-6 16,675,000.00 16,675,000.00 101,439.58 0.00 A-7 22,209,000.00 22,209,000.00 143,433.13 0.00 A-8 5,512,000.00 5,512,000.00 35,598.33 0.00 A-9 6,672,000.00 6,672,000.00 43,090.00 0.00 A-10 56,121,000.00 56,121,000.00 362,448.13 0.00 P0 162,446.00 134,636.33 0.00 5,649.96 X 270,718,591.23 236,741,402.90 183,879.06 0.00 B-1 6,311,000.00 6,263,133.29 40,449.40 4,851.43 B-2 2,805,000.00 2,783,725.08 17,978.22 2,156.28 B-3 2,104,000.00 2,088,041.91 13,485.27 1,617.40 B-4 2,384,000.00 2,365,918.20 15,279.89 1,832.64 B-5 1,262,000.00 1,252,428.18 8,088.60 970.13 B-6 1,262,766.00 1,245,386.65 8,043.12 964.68 R-1 100.00 0.00 0.00 0.00 Totals 280,491,312.00 244,909,034.43 1,764,715.76 5,238,720.57 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE A-1 2,913,482.84 0.00 0.00 10,808,621.39 A-2 2,767,968.78 0.00 0.00 48,894,465.35 A-3 110,621.79 0.00 0.00 19,379,000.00 A-4 125,871.67 0.00 0.00 21,578,000.00 A-5 94,236.00 0.00 0.00 15,706,000.00 A-6 101,439.58 0.00 0.00 16,675,000.00 A-7 143,433.13 0.00 0.00 22,209,000.00 A-8 35,598.33 0.00 0.00 5,512,000.00 A-9 43,090.00 0.00 0.00 6,672,000.00 A-10 362,448.13 0.00 0.00 56,121,000.00 P0 5,649.96 0.00 0.00 128,986.37 X 183,879.06 0.00 0.00 231,814,345.26 B-1 45,300.83 0.00 0.00 6,258,281.86 B-2 20,134.50 0.00 0.00 2,781,568.80 B-3 15,102.67 0.00 0.00 2,086,424.51 B-4 17,112.53 0.00 0.00 2,364,085.56 B-5 9,058.73 0.00 0.00 1,251,458.05 B-6 9,007.80 0.00 0.00 1,2 R-1 0.00 0.00 0.00 0.00 Totals 7,003,436.33 0.00 0.00 239,670,313.86 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL A-1 44926MAA8 414.794654 2.315937 86.245156 88.561093 A-2 44926MAB6 760.234993 5.701762 35.335580 41.037343 A-3 44926MAC4 1,000.000000 5.708333 0.000000 5.708333 A-4 44296MAD2 1,000.000000 5.833333 0.000000 5.833333 A-5 44926MAE0 1,000.000000 6.000000 0.000000 6.000000 A-6 44926MAF7 1,000.000000 6.083333 0.000000 6.083333 A-7 44926MAG5 1,000.000000 6.458334 0.000000 6.458334 A-8 44926MAH3 1,000.000000 6.458333 0.000000 6.458333 A-9 44926MAJ9 1,000.000000 6.458333 0.000000 6.458333 A-10 44926MAK6 1,000.000000 6.458333 0.000000 6.458333 P0 44926MAV2 828.806680 0.000000 34.780542 34.780542 X 44926MAP5 874.492593 0.679226 0.000000 0.679226 B-1 44926MAL4 992.415352 6.409349 0.768726 7.178075 B-2 44926MAM2 992.415358 6.409348 0.768727 7.178075 B-3 44926MAN0 992.415356 6.409349 0.768726 7.178075 B-4 44926MAQ3 992.415352 6.409350 0.768725 7.178075 B-5 44926MAR1 992.415357 6.409350 0.768724 7.178074 B-6 44926MAS9 986.237080 6.369446 0.763942 7.133388 R-1 44926MAT7 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT A-1 328.549498 6.700000% 6.700000% A-2 724.899412 9.000000% 9.000000% A-3 1,000.000000 6.850000% 6.850000% A-4 1,000.000000 7.000000% 7.000000% A-5 1,000.000000 7.200000% 7.200000% A-6 1,000.000000 7.300000% 7.300000% A-7 1,000.000000 7.750000% 7.750000% A-8 1,000.000000 7.750000% 7.750000% A-9 1,000.000000 7.750000% 7.750000% A-10 1,000.000000 7.750000% 7.750000% P0 794.026138 0.000000% 0.000000% X 856.292670 0.926409% 0.927795% B-1 991.646626 7.750000% 7.750000% B-2 991.646631 7.750000% 7.750000% B-3 991.646630 7.750000% 7.750000% B-4 991.646628 7.750000% 7.750000% B-5 991.646632 7.750000% 7.750000% B-6 985.743138 7.750000% 7.750000% R-1 0.000000 0.000000 0.000000 Seller: ICIFC Secured Assets Corp. Administrator: Cindy Tsang Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: January 30, 1998 Irvine, CA 92714 Distribution Date: February 25, 1998 Factor Information (800)735-7777 ICIFC SECURED ASSETS CORP. MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-1 REMIC II STATEMENT TO CERTIFICATE HOLDERS DISTRIBUTIONS IN DOLLARS CLASS FACE VALUE BALANCE INTEREST PRINCIPAL II-A-1 32,898,000.00 13,645,914.54 98,381.04 2,837,293.15 II-A-2 67,450,000.00 51,277,850.25 369,690.75 2,383,384.90 II-A-3 19,379,000.00 19,379,000.00 139,714.07 0.00 II-A-4 21,578,000.00 21,578,000.00 155,567.89 0.00 II-A-5 15,706,000.00 15,706,000.00 113,167.18 0.00 II-A-6 16,675,000.00 16,675,000.00 120,219.42 0.00 II-A-7 22,209,000.00 22,209,000.00 160,117.12 0.00 II-A-8 5,512,000.00 5,512,000.00 39,739.10 0.00 II-A-9 6,672,000.00 6,672,000.00 48,102.19 0.00 II-A-10 56,121,000.00 56,121,000.00 404,607.73 0.00 II-PO 162,446.00 134,636.33 0.00 5,649.96 II-B-1 6,311,000.00 6,263,133.29 45,154.44 4,851.43 II-B-2 2,805,000.00 2,783,725.08 20,069.43 2,156.28 II-B-3 2,104,000.00 2,088,041.91 15,053.86 1,617.40 II-B-4 2,384,000.00 2,365,918.20 17,057.23 1,832.64 II-B-5 1,262,000.00 1,252,428.18 9,029.46 970.17 II-B-6 1,262,766.00 1,245,386.65 8,978.69 964.68 II-R-1 100.00 0.00 0.00 0.00 R-2 100.00 0.00 0.00 0.00 Totals 280,491,412.00 244,909,034.43 1,764,715.76 5,238,720.57 TOTAL REALIZED DEFERRED CURRENT LOSSES INTEREST PRINCIPAL BALANCE II-A-1 2,935,674.19 0.00 0.00 10,808,621.39 II-A-2 2,753,075.65 0.00 0.00 48,894,465.35 II-A-3 137,714.07 0.00 0.00 19,379,000.00 II-A-4 155,567.89 0.00 0.00 21,578,000.00 II-A-5 113,233.35 0.00 0.00 15,706,000.00 II-A-6 120,219.42 0.00 0.00 16,675,000.00 II-A-7 160,117.12 0.00 0.00 22,209,000.00 II-A-8 39,739.10 0.00 0.00 5,512,000.00 II-A-9 48,102.19 0.00 0.00 6,672,000.00 II-A-10 404,607.73 0.00 0.00 56,121,000.00 II-PO 5,649.96 0.00 0.00 128,986.37 II-B-1 50,005.87 0.00 0.00 6,258,281.86 II-B-2 22,225.71 0.00 0.00 2,781,568.80 II-B-3 16,671.26 0.00 0.00 2,086,424.51 II-B-4 18,889.87 0.00 0.00 2,364,085.56 II-B-5 9,999.59 0.00 0.00 1,251,458.05 II-B-6 9,943.37 0.00 0.00 1,244,421.97 II-R-1 0.00 0.00 0.00 0.00 R-2 0.00 0.00 0.00 0.00 Totals 7,003,436.33 0.00 0.00 239,670,313.86 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL II-A-1 IC9701201 414.794654 2.990487 86.245156 89.235643 II-A-2 IC9701202 760.234993 5.480960 35.335580 40.816540 II-A-3 IC9701203 1,000.000000 7.209560 0.000000 7.209560 II-A-4 IC9701204 1,000.000000 7.209560 0.000000 7.209560 II-A-5 IC9701205 1,000.000000 7.209560 0.000000 7.209560 II-A-6 IC9701206 1,000.000000 7.209560 0.000000 7.209560 II-A-7 IC9701207 1,000.000000 7.209560 0.000000 7.209560 II-A-8 IC9701208 1,000.000000 7.209560 0.000000 7.209560 II-A-9 IC9701209 1,000.000000 7.209560 0.000000 7.209560 II-A-10 IC9701210 1,000.000000 7.209560 0.000000 7.209560 II-PO IC9701213 828.806680 0.000000 34.780542 34.780542 II-B-1 IC9701215 992.415352 0.715488 0.768726 1.484214 II-B-2 IC9701216 992.415358 0.715488 0.768727 1.484215 II-B-3 IC9701217 992.415356 0.715488 0.768726 1.484214 II-B-4 IC9701218 992.415352 0.715478 0.768725 1.484213 II-B-5 IC9701219 992.415357 0.715488 0.768724 1.484212 II-B-6 IC9701220 986.237080 0.711034 0.763942 1.474976 II-R-1 IC9701221 0.000000 0.000000 0.000000 0.000000 R-2 44926MAU4 0.000000 0.000000 0.000000 0.000000 CURRENT PASS THROUGH PRINCIPAL RATES BALANCE CURRENT NEXT II-A-1 328.549498 8.651472% 8.647877% II-A-2 724.899412 8.651472% 8.647877% II-A-3 1,000.000000 8.651472% 8.647877% II-A-4 1,000.000000 8.651472% 8.647877% II-A-5 1,000.000000 8.651472% 8.647877% II-A-6 1,000.000000 8.651472% 8.647877% II-A-7 1,000.000000 8.651472% 8.647877% II-A-8 1,000.000000 8.651472% 8.647877% II-A-9 1,000.000000 8.651472% 8.647877% II-A-10 1,000.000000 8.651472% 8.647877% II-P0 794.026138 0.000000% 0.000000% II-B-1 991.646626 8.651472% 8.647877% II-B-2 991.646631 8.651472% 8.647877% II-B-3 991.646630 8.651472% 8.647877% II-B-4 991.646628 8.651472% 8.647877% II-B-5 991.646632 8.651472% 8.647877% II-B-6 985.473138 8.651472% 8.647877% II-R-1 0.000000 0.000000 0.000000 R-2 0.000000 0.000000 0.000000 Seller: ICIFC Secured Assets Corp. Administrator: Joseph Murphy Servicer: ICIFC Secured Assets Corp. Bankers Trust Company Lead Underwriter: Morgan Stanley & Co. 3 Park Plaza Record Date: January 30, 1998 Irvine, CA 92714 Distribution Date: February 25, 1998 Factor Information (800)735-7777 -----END PRIVACY-ENHANCED MESSAGE-----