SECURITIES AND EXCHANGE COMMISSION
                               Washington D.C.  20549

          FORM 15 - Certification and Notice of Termination of Registration
          under Section 12(g) of the Securities Exchange Act of 1934 or
          Suspension of Duty to File Reports Under Sections 13 and 15(d) of
                         the Securities Exchange Act of 1934.

                          Commission File Number:  333-8439


                             ICIFC SECURED ASSETS CORP.
              (Exact name of registrant as specified in its charter)

          20371 IRVINE AVENUE, SANTA ANA HEIGHTS, CALIFORNIA, 92707
                                  (714) 556-0122
          (Address, including zip code, and telephone number, including area
                  code, of registrant's principal executive offices)

               MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3
     CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-5, CLASS A-6, CLASS
     A-7, CLASS A-8, CLASS A-9, CLASS A-10, CLASS R, CLASS M-1, CLASS M-2, AND
     CLASS M-3
           (Title of each class of securities covered by this Form)

                                       NONE
           (Titles of all other classes of securities for which a
               duty to file reports under section 13(a) or 15(d) remains)


               Please place an X in the box(es) to designate the
               appropriate rule provision(s) relied upon to terminate or
               suspend the duty to file reports:

              Rule 12g-4(a)(1)(i)    [X]     Rule 12h-3(b)(1)(ii)    [X]
              Rule 12g-4(a)(1)(ii)   [ ]     Rule 12h-3(b)(2)(i)     [ ]
              Rule 12g-4(a)(2)(i)    [ ]     Rule 12h-3(b)(2)(ii)    [ ]
              Rule 12g-4(a)(2)(ii)   [ ]     Rule 15d-6              [ ]
              Rule 12h-3(b)(1)(i)    [ ]

          Approximate number of holders of record as of the certification
                                or notice date:  28

                            SEE ATTACHED CERTIFICATION


     Pursuant to the requirements of the Securities Exchange Act of 1934 (Name
     of registrant as specified in charter) has caused this
     certification/notice to be signed on its behalf by the undersigned duly
     authorized person.


DATE:  April 20, 1998            BY:  /s/ Judy L. Gomez
                                 Judy L. Gomez
                                 Assistant Vice President
                                 Bankers Trust Company of California, N.A.


     Instruction:  This form is required by Rules 12g-4, 12h-3 and 15d-6 of
     the General Rules and Regulations under the Securities Exchange Act of
     1934.  The registrant shall file with the Commission three copies of Form
     15, one of which shall be manually signed.  It may be signed by an
     officer of the registrant, by counsel or by any other duly authorized
     person.  The name and title of the person signing the form shall be typed
     or printed under the signature.


                            ACCOUNT HOLDER CERTIFICATION

                             ICIFC SECURED ASSETS CORP.
                  MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3

                        Commission File Number:  333-8439

          I hereby certify that the following information is correct:

                                         CERTIFICATE HOLDERS
              NAME OF SECURITY           AS OF DECEMBER 31, 1997.

				CLASS A-1					1
				CLASS A-2					2
				CLASS A-3					3
				CLASS A-4					1
				CLASS A-5					1
				CLASS A-6					1
				CLASS A-7					11
				CLASS A-8					1
				CLASS A-9					1
				CLASS A-10				1
				CLASS R					1
				CLASS M-1					2
				CLASS M-2					1
				CLASS M-3					1

				TOTAL					28


     Date:  April 20, 1998

                                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 September 1,
                                1997.

                                By:  /s/ Judy L. Gomez
                                Judy L. Gomez
                                Assistant Vice President
                                Bankers Trust Company of California, N.A.