-----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, UE05s58piCJAZUG59q5tidjp2wrqOr9g7OBM+brmBBys7n/lDWQzXimPmGbpGcT1 bsC3bI0ORBcVg+oDQYVzIA== 0001020242-98-000115.txt : 19980930 0001020242-98-000115.hdr.sgml : 19980930 ACCESSION NUMBER: 0001020242-98-000115 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980425 ITEM INFORMATION: FILED AS OF DATE: 19980929 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPAC CMB TRUST SERIES 1998-2 CENTRAL INDEX KEY: 0001058662 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] IRS NUMBER: 330705301 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-38879-01 FILM NUMBER: 98716794 BUSINESS ADDRESS: STREET 1: 20371 IRVINE AVE CITY: SANTA ANA HEIGHTS STATE: CA ZIP: 92707 BUSINESS PHONE: 7145560122 MAIL ADDRESS: STREET 1: 20371 IRVINE AVENUE CITY: SANTA ANA HEIGHTS STATE: CA ZIP: 92707 8-K 1 September 28, 1998 Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, D.C. 20549 Re: Imperial CMB Trust Series 1998-2 Collateralized Asset-Backed Bonds; File No. 333-38879. Ladies and Gentlemen: Enclosed herewith for filing on behalf of Imperial CMB Trust Series 1998-2, a Delaware business trust, as Issuer, (the "Issuer") under the Indenture, dated as of March 27, 1998, between Impac CMB Trust Series 1998-2, and Bankers Trust Company of California, N.A., a national banking association, as Indenture Trustee (the "Indenture Trustee") is a Current Report on Form 8-K. The Series 1998-2 Collateralized Asset-Backed Bonds will include the following five classes (the "Bonds"): (i) Class A Bonds (the "Senior Bonds"); (ii) Class M-1 Bonds, Class M-2 Bonds and Class M-3 Bonds (collectively, the "Class M Bonds"); and (iii) Class B Bonds (the "Class B Bonds"; and together with the Class M Bonds, the "Subordinate Bonds"). The Bonds will represent obligations of the Imperial CMB Trust Series 1998-2 (the "Issuer"), which will be formed pursuant to a Trust Agreement to be dated as of March 24, 1998 (as amended and restated by the Amended and Restated Trust Agreement dated March 27, 1998, the "Trust Agreement"), between IMH Assets Corp. (the "Company") and Wilmington Trust Company, as owner trustee (the "Owner Trustee"). The Bonds will be issued pursuant to the Indenture. The Bonds were registered under the Securities Act of 1933 under Commission File Number 333-38879. 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), 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 for any fiscal year as to which its reporting obligations under 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 (949) 253-7562. Sincerely, /s/ Judy L. Gomez Assistant Vice President Bankers Trust Company of California, N.A. S.E.C. Reporting Agent for Imperial CMB Trust Series 1998-2 Collateralized Asset-Backed Bonds Series, 1998-2. 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): April 26, 1998 IMPERIAL CMB TRUST SERIES 1998-2 (as issuer under the Indenture, dated as of March 27, 1998, providing for the issuance of Collaterialized Asset-Backed Bonds Series, 1998-2). IMPERIAL CMB TRUST SERIES 1998-2 (Exact name of Registrant as specified in its Charter) CALIFORNIA (State or Other Jurisdiction of Incorporation) 333-38879 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 April 25, 1998. Monthly Remittance Statement to the Certificateholders dated as of May 25, 1998. Monthly Remittance Statement to the Certificateholders dated as of June 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 March 27, 1998. Date: September 28, 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 April 25, 1998. 4 Monthly Remittance Statement to the Certificateholders dated as of May 25, 1998. 9 Monthly Remittance Statement to the Certificateholders dated as of June 25, 1998. 14 IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Bondholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A 117,820,358.00 177,820,358.00 992,830.33 2,242,953.77 M-1 11,854,691.00 11,854,691.00 68,658.42 149,530.26 M-2 16,370,763.00 16,370,763.00 98,906.69 206,494.16 M-3 7,903,127.00 7,903,127.00 47,748.06 99,686,.83 B 6,209,600.00 6,209,600.00 37,516.33 78,325.37 TOTALS 220,158,539.00 220,158,539.00 1,245,659.83 2,776,990.39 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE A 3,235,784.10 0.00 0.00 175,577,404.23 M-1 218,188.68 0.00 0.00 11,705,160.74 M-2 305,400.85 0.00 0.00 16,164,268.84 M-3 147,434.89 0.00 0.00 7,803,440.17 B 115,841.70 0.00 0.00 6,131,274.63 TOTALS 4,022,650.22 0.00 0.00 217,381,548.61 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL A 45254NAA5 1,000.000000 5.583333 12.613594 M-1 45254NAB3 1,000.000000 5.791667 12.613594 M-2 45254NAC1 1,000.000000 6.041666 12.613594 M-3 45254NAD9 1,000.000000 6.041667 12.613593 B 45254NAE7 1,000.000000 6.041666 12.613593 CURRENT PRINCIPAL TOTAL BALANCE A 45254NAA5 18.196927 987.386406 M-1 45254NAB3 18.405261 987.386406 M-2 45254NAC1 18.655261 987.386406 M-3 45254NAD9 18.655260 987.386407 B 45254NAE7 18.655260 987.386407 PASS-THROUGH RATES CLASS CURRENT NEXT A 6.700000% 6.700000% M-1 6.950000% 6.950000% M-2 7.250000% 7.250000% M-3 7.250000% 7.750000% B 7.250000% 7.250000% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: March 31, 1998 Irvine, CA 92614 DISTRIBUTION DATE: April 27, 1998 FACTOR INFO: (800)735-7777 Page 1 of 1 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Certificateholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL C-1 2,258,036.00 2,258,036.00 16,123.21 1,505.34 C-2 1,354,822.00 1,354,822.00 9,673.92 903.20 C-3 2,032,233.40 2,032,233.40 14,510.89 1,354.81 X 220,158,539.00 220,158,539.00 313,894.69 0.00 TOTALS 225,803,630.40 225,803,630.40 354,202.71 3,763.35 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE C-1 17,628.55 0.00 0.00 2,256,530.66 C-2 10,577.12 0.00 0.00 1,353,918.80 C-3 15,865.70 0.00 0.00 2,030,878.59 X 313,894.69 0.00 0.00 217,381,548.61 TOTALS 357,966.06 0.00 0.00 223,022,876.66 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR CURRENT PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE C-1 IMB9802C1 1,000.000000 7.140369 0.666659 7.807028 999.333341 C-2 IMB9802C2 1,000.000000 7.140362 0.666659 7.807021 999.333344 C-3 IMB9802C3 1,000.000000 7.140366 0.666659 7.807025 999.333339 X IMB9802XX 1,000.000000 1.425767 0.000000 1.425767 987.386406 PASS-THROUGH RATES CLASS CURRENT NEXT C-1 8.483593% 8.479366% C-2 8.483593% 8.479366% C-3 8.483593% 8.479366% X 1.693978% 1.671208% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: March 31, 1998 Irvine, CA 92614 DISTRIBUTION DATE: April 27, 1998 FACTOR INFO.: (800)735-7777 Page 1 of 1 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: April 27, 1998 DELINQUENT AND FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE 0.00 0.00 0.00 0.00 % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% REO LOAN INFORMATION: PRINCIPAL BALANCE 0.00 0.00 0.00 0.00% % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% BOOK VALUE OF REO PROPERTY: 0.00 AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,647,317.02 AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 2,780,753.74 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 4,428,070.76 CURRENT PERIOD BOND PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 2,776,990.39 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 2,630,219.83 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO CERTIFICATEHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 223,022,876.66 AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 1,492 Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: April 27, 1998 AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00 AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00 AGGRGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 0.00 AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 8,501.78 AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 8,501.78 AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00 CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00 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 Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Bondholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A 117,820,358.00 175,577,404.23 980,307.17 1,114,099.76 M-1 11,854,691.00 11,705,160.74 67,792.39 74,273.32 M-2 16,370,763.00 16,164,268.84 97,659.12 102,567.91 M-3 7,903,127.00 7,803,440.17 47,145.78 49,515.54 B 6,209,600.00 6,131,274.63 37,043.12 38,905.07 TOTALS 220,158,539.00 217,381,548.61 1,229,947.58 1,379,361.60 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE A 2,094,406.93 0.00 0.00 174,463,304.47 M-1 142,065.71 0.00 0.00 11,630,887.42 M-2 200,227.03 0.00 0.00 16,061,700.93 M-3 96,661.32 0.00 0.00 7,753,924.63 B 75,948.19 0.00 0.00 6,092,369.56 TOTALS 2,609,309.18 0.00 0.00 216,002,187.01 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL A 45254NAA5 987.386406 5.512907 6.265311 M-1 45254NAB3 987.386406 5.718613 6.265311 M-2 45254NAC1 987.386406 5.965459 6.265310 M-3 45254NAD9 987.386407 5.965459 6.265310 B 45254NAE7 987.386407 5.965460 6.265310 CURRENT PRINCIPAL CLASS TOTAL BALANCE A 11.778218 981.121096 M-1 11.983923 981.121095 M-2 12.230770 981.121096 M-3 12.230769 981.121097 B 12.230770 981.121096 PASS-THROUGH RATES CLASS CURRENT NEXT A 6.700000% 6.700000% M-1 6.950000% 6.950000% M-2 7.250000% 7.250000% M-3 7.250000% 7.750000% B 7.250000% 7.250000% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: April 31, 1998 Irvine, CA 92614 DISTRIBUTION DATE: May 26, 1998 FACTOR INFO.: (800)735-7777 Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Certificateholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL C-1 2,258,036.00 2,256,530.66 16,073.23 1,529.92 C-2 1,354,822.00 1,353,918.00 9,643.94 917.95 C-3 2,032,233.40 2,030,878.59 14,465.91 1,376.93 X 220,158,539.00 217,381,548.61 308,563.02 0.00 TOTALS 225,803,630.40 223,022,876.66 348,746.10 3,824.80 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE C-1 17,603.15 0.00 0.00 2,255,000.74 C-2 10,561.89 0.00 0.00 1,353,000.85 C-3 15,842.84 0.00 0.00 2,029,501.66 X 308,563.02 0.00 0.00 216,002,187.01 TOTALS 352,570.90 0.00 0.00 221,639,690.26 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR CURRENT PRINCIPAL PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE C-1 IMB9802C1 999.333341 7.118235 0.677544 7.795779 998.655796 C-2 IMB9802C2 999.333344 7.118234 0.677544 7.795778 998.655801 C-3 IMB9802C3 999.333339 7.118233 0.677544 7.795777 998.655794 X IMB9802XX 987.386406 1.401549 0.000000 1.401549 981.121096 PASS-THROUGH RATES CLASS CURRENT NEXT C-1 8.479366% 8.479051% C-2 8.479366% 8.479051% C-3 8.479366% 8.479051% X 1.689751% 1.671487% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: April 30, 1998 Irvine, CA 92614 DISTRIBUTION DATE: May 26, 1998 FACTOR INFO.: (800)735-7777 Page 1 of 1 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: May 26, 1998 DELINQUENT AND FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE 3,142,328.91 81,405.28 0.00 3,223,734.19 % OF POOL BALANCE 1.4178% 0.0367% 0.0000% 1.4545% NUMBER OF LOANS 21 1 0 22 PERCENTAGE OF LOANS 1.4141% 0.0673% 0.0000% 1.4815% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE 157,186.40 0.00 0.00 157,186.40 % OF POOL BALANCE 0.0709% 0.0000% 0.0000% 0.0709% NUMBER OF LOANS 1 0 0 1 PERCENTAGE OF LOANS 0.0673% 0.0000% 0.0000% 0.0673% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE 200,667.59 0.00 0.00 386,617.98 % OF POOL BALANCE 0.0905% 0.0000% 0.0000% 0.1744% NUMBER OF LOANS 1 0 0 2 PERCENTAGE OF LOANS 0.0673% 0.0000% 0.0000% 0.1347% REO LOAN INFORMATION: PRINCIPAL BALANCE 0.00 0.00 0.00 0.00% % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% BOOK VALUE OF REO PROPERTY: 0.00 AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,412,289.17 AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 1,364,415.34 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 2,776,704.51 CURRENT PERIOD BOND PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 1,379,361.61 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 1,231,978.08 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO CERTIFICATEHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 221,639,690.26 AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 1,485 Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: May 26, 1998 AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 18,771.06 AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 214,185.37 AGGRGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 232,956.43 AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 3,456.19 AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 3,456.19 AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00 CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00 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 Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Bondholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL A 117,820,358.00 174,463,304.47 974,086.78 2,359,315.71 M-1 11,854,691.00 11,630,887.42 67,362.22 157,287.72 M-2 16,370,763.00 16,061,700.93 97,039.44 217,206.84 M-3 7,903,127.00 7,753,924.63 46,846.63 104,858.48 B 7,903,127.00 6,092,369.56 36,808.07 82,388.81 TOTALS 221,852,066.00 216,002,187.01 1,222,143.14 2,921,057.56 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE A 3,333,402.49 0.00 0.00 172,103,988.76 M-1 224,649.94 0.00 0.00 11,473,599.70 M-2 314,246.28 0.00 0.00 15,844,494.09 M-3 151,705.11 0.00 0.00 7,649,066.15 B 119,196.88 0.00 0.00 6,009,980.75 TOTALS 4,143,200.70 0.00 0.00 213,081,129.45 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL A 45254NAA5 981.121096 5.477926 13.267973 M-1 45254NAB3 981.121095 5.682326 13.267973 M-2 45254NAC1 981.121096 5.927606 13.267973 M-3 45254NAD9 981.121097 5.927607 13.267974 B 45254NAE7 770.880888 4.657406 10.424837 CURRENT PRINCIPAL CUSIP TOTAL BALANCE A 45254NAA5 18.745899 967.853123 M-1 45254NAB3 18.950299 967.853122 M-2 45254NAC1 19.195579 967.853123 M-3 45254NAD9 19.195580 967.853123 B 45254NAE7 15.082243 760.456051 PASS-THROUGH RATES CLASS CURRENT NEXT A 6.700000% 6.700000% M-1 6.950000% 6.950000% M-2 7.250000% 7.250000% M-3 7.250000% 7.750000% B 7.250000% 7.250000% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: May 29, 1998 Irvine, CA 92614 DISTRIBUTION DATE: June 25, 1998 FACTOR INFO.: (800)735-7777 Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Collateralized Mortgage Notes Series 1998-2 Statement to Certificateholders DISTRIBUTION IN DOLLARS PRIOR ORIGINAL PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL C-1 6,209,600.00 2,255,000.74 16,096.73 1,524.83 C-2 2,258,036.00 1,353,000.85 9,658.04 914.90 C-3 1,354,822.00 2,029,501.66 14,487.06 1,372.35 X 2,032,233.40 216,002,187.01 307,215.68 0.00 TOTALS 11,854,691.40 221,639,690.26 347,457.51 3,812.07 CURRENT REALIZED DEFERRED PRINCIPAL CLASS TOTAL LOSSES INTEREST BALANCE C-1 17,621.65 0.00 0.00 2,253,475.91 C-2 10,572.94 0.00 0.00 1,352,085.95 C-3 15,859.41 0.00 0.00 2,028,129.31 X 307,215.68 0.00 0.00 213,081,129.45 TOTALS 351,269.58 0.00 0.00 218,714,820.62 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PRIOR PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL C-1 IMB9802C1 363.147504 2.592233 0.245560 C-2 IMB9802C2 599.193658 4.277186 0.405174 C-3 IMB9802C3 1,497.983986 10.692962 1.012934 X IMB9802XX 106,288.080400 151.171455 0.000000 CURRENT PRINCIPAL CLASS TOTAL BALANCE C-1 2.837793 362.901944 C-2 4.682360 598.788483 C-3 11.705896 1,496.971049 X 151.171455 104,850.717172 PASS-THROUGH RATES CLASS CURRENT NEXT C-1 8.479051% 8.476487% C-2 8.479051% 8.476487% C-3 8.479051% 8.476487% X 1.689436% 1.668922% SELLER: IMH Assets Corp ADMINISTRATOR: Cindy Tsang MASTER SERVICER: IMPAC Bankers Trust Co. of California, NA CO-LEAD UNDERWRITERS: Bear, Stearns & Co. Inc 3 Park Plaza RECORD DATE: May 29, 1998 Irvine, CA 92614 DISTRIBUTION DATE: June 25, 1998 FACTOR INFO.: (800)735-7777 Page 1 of 1 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: June 25, 1998 DELINQUENT AND FORCLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS INFORMATION DAYS DAYS DAYS TOTAL PRINCIPAL BALANCE 2,731,535.07 584,011.83 0.00 3,315,546.90 % OF POOL BALANCE 1.2489% 0.2670% 0.0000% 1.5159% NUMBER OF LOANS 20 5 0 25 PERCENTAGE OF LOANS 1.3596% 0.3399% 0.0000% 1.6995% FORECLOSURE LOAN INFORMATION: PRINCIPAL BALANCE 0.00 347,055.02 0.00 347,055.02 % OF POOL BALANCE 0.0000% 0.1587% 0.0000% 0.1587% NUMBER OF LOANS 0 2 0 2 PERCENTAGE OF LOANS 0.0000% 0.1360% 0.0000% 0.1360% BANKRUPTCY LOAN INFORMATION: PRINCIPAL BALANCE 0.00 200,097.72 0.00 729,071.53 % OF POOL BALANCE 0.0000% 0.0915% 0.0000% 0.3333% NUMBER OF LOANS 0 1 0 6 PERCENTAGE OF LOANS 0.0000% 0.0680% 0.0000% 0.4079% REO LOAN INFORMATION: PRINCIPAL BALANCE 0.00 0.00 0.00 0.00% % OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000% NUMBER OF LOANS 0 0 0 0 PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000% BOOK VALUE OF REO PROPERTY: 0.00 AGGREGATE COLLECTIONS OF NET INTEREST WITH RESPECT TO THE MORTGAGE LOANS: 1,389,764.80 AGGREGATE COLLECTIONS OF PRINCIPAL WITH RESPECT TO THE MORTGAGE LOANS: 2,905,523.60 AGGREGATE COLLECTIONS WITH RESPECT TO THE MORTGAGE LOANS: 4,295,288.40 CURRENT PERIOD BOND PRINCIPAL DISTRIBUTION AMOUNT PAYABLE: 2,921,057.56 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO BOND HOLDERS: 2,774,997.21 AGGREGATE PRINCIPAL PREPAYMENTS INCLUDED IN DISTRIBUTION TO CERTIFICATEHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE PRIOR UNPAID INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO BONDHOLDERS: 0.00 AGGREGATE CURRENT INTEREST SHORTFALL TO CERTIFICATEHOLDERS: 0.00 CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS: 218,714,820.63 AGGREGATE NUMBER OF THE MORTGAGE LOANS IN POOL: 1,471 Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company IMH Assets Corp. Imperial CMB Trust Series 1998-2 Payment Date Statement Distribution Date: June 25, 1998 AMOUNT OF PRINCIPAL ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 19,346,03 AMOUNT OF INTEREST ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 226,385.40 AGGRGATE ADVANCES MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 245,731.43 AMOUNT OF PREPAYMENT INTEREST SHORTFALLS WITH RESPECT TO THE RELATED PAYMENT DATE: 9,510.25 AMOUNT OF COMPENSATING INTEREST MADE WITH RESPECT TO THE RELATED PAYMENT DATE: 9,510.25 AGGREGATE AMOUNT OF REALIZED LOSSES FOR THE RELATED PAYMENT DATE: 0.00 CUMULATIVE AMOUNT OF REALIZED LOSSES SINCE THE CLOSING DATE: 0.00 NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0 AGGREGATE NUMBER OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT FOR THE RELATED PAYMENT DATE: 0.00 AGGREGATE PRINCIPAL BALANCE OF MORTGAGE LOANS REPURCHASED PURSUANT TO THE MORTGAGE LOAN SALE AND CONTRIBUTION AGREEMENT SINCE THE CLOSING DATE: 0.00 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 Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company -----END PRIVACY-ENHANCED MESSAGE-----