<PAGE>   1







                                                                  Exhibit 99.3
<PAGE>   2




--------------------------------------------------------------------------------
                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5
================================================================================

         DISTRIBUTION:     20-Oct-97                                    PAGE # 1


<TABLE>
<CAPTION>
            ORIGINAL        BEGINNING                                                      ENDING                         ENDING
          CERTIFICATE      CERTIFICATE       PRINCIPAL       INTEREST        TOTAL       CERTIFICATE        O/C         PRINCIPAL
 CLASS      BALANCE          BALANCE       DISTRIBUTION    DISTRIBUTION  DISTRIBUTION      BALANCE        AMOUNT         BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>              <C>               <C>             <C>           <C>           <C>
  A-1   107,250,000.00   107,250,000.00    4,128,139.25     581,831.25   4,709,970.50  103,121,860.75
  A-2   141,300,000.00   141,300,000.00    5,912,943.19     608,958.84   6,521,902.03  135,387,056.81
  A-3   105,200,000.00   105,200,000.00            0.00     573,340.00     573,340.00  105,200,000.00
  A-4   122,500,000.00   122,500,000.00            0.00     666,604.17     666,604.17  122,500,000.00
  A-5   119,910,000.00   119,910,000.00            0.00     660,504.25     660,504.25  119,910,000.00  3,126,080.27   968,084,997.83
  A-6    22,480,000.00    22,480,000.00            0.00     127,948.67     127,948.67   22,480,000.00
  A-7    72,990,000.00    72,990,000.00            0.00     419,692.50     419,692.50   72,990,000.00
  A-8    42,410,000.00    42,410,000.00            0.00     252,339.50     252,339.50   42,410,000.00
  A-9    41,085,000.00    41,085,000.00            0.00     250,276.13     250,276.13   41,085,000.00
 A-10    68,250,000.00    68,250,000.00            0.00     391,300.00     391,300.00   68,250,000.00
  M-1    39,000,000.00    39,000,000.00            0.00     230,100.00     230,100.00   39,000,000.00
  M-2    53,625,000.00    53,625,000.00            0.00     326,665.63     326,665.63   53,625,000.00
   B     39,000,000.00    39,000,000.00            0.00     246,675.00     246,675.00   39,000,000.00
   R          N/A              N/A             N/A                0.00           0.00        N/A
------------------------------------------------------------------------------------------------------------------------------------
TOTALS  975,000,000.00   975,000,000.00   10,041,082.44   5,336,235.94  15,377,318.38  964,958,917.56  3,126,080.27   968,084,997.83
------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
A-11IO   68,250,000.00    68,250,000.00        N/A          483,437.50     483,437.50   68,250,000.00     N/A              N/A
(NOT'L)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>




                  FACTOR INFORMATION PER $1,000

<TABLE>
<CAPTION>

               PRINCIPAL             INTEREST                END. CERT.
 CLASS       DISTRIBUTION          DISTRIBUTION               BALANCE
--------------------------------------------------------------------------------
<S>          <C>                   <C>                     <C>
  A-1         38.49080886           5.42500000               961.50919114
  A-2         41.84673174           4.30968747               958.15326826
  A-3          0.00000000           5.45000000              1000.00000000
  A-4          0.00000000           5.44166669              1000.00000000
  A-5          0.00000000           5.50833333              1000.00000000
  A-6          0.00000000           5.69166681              1000.00000000
  A-7          0.00000000           5.75000000              1000.00000000
  A-8          0.00000000           5.95000000              1000.00000000
  A-9          0.00000000           6.09166679              1000.00000000
  A-10         0.00000000           5.73333333              1000.00000000
  M-1          0.00000000           5.90000000              1000.00000000
  M-2          0.00000000           6.09166676              1000.00000000
   B           0.00000000           6.32500000              1000.00000000
--------------------------------------------------------------------------------
TOTALS         10.2985461          5.473062503                989.7014539
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
A-11IO                N/A           7.08333333              1000.00000000
(NOT'L)
--------------------------------------------------------------------------------
</TABLE>



                            PASS THRU RATES

<TABLE>
<CAPTION>
                                 INIT PASS              CURR PASS
             CLASS               THRU RATE              THRU RATE
      ------------------------------------------------------------------
             <S>                 <C>                   <C>
              A-1                6.51000000%           6.51000000%
              A-2                5.74625000%           5.74625000%
              A-3                6.54000000%           6.54000000%
              A-4                6.53000000%           6.53000000%
              A-5                6.61000000%           6.61000000%
              A-6                6.83000000%           6.83000000%
              A-7                6.90000000%           6.90000000%
              A-8                7.14000000%           7.14000000%
              A-9                7.31000000%           7.31000000%
              A-10               6.88000000%           6.88000000%
             A-11IO              8.50000000%           8.50000000%
              M-1                7.08000000%           7.08000000%
              M-2                7.31000000%           7.31000000%
               B                 7.59000000%           7.59000000%
      ------------------------------------------------------------------
</TABLE>




================================================================================




          IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                 PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:




     ----------------------------------------------------------------------

                                 ANN MARIE JOSE
              THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
                        450 WEST 33RD STREET, 15TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 946-7148

     ----------------------------------------------------------------------



(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------

<PAGE>   3

--------------------------------------------------------------------------------
                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5
================================================================================

         DISTRIBUTION:     20-Oct-97                                    PAGE # 2



<TABLE>
<S>                      <C>                                                              <C>                    <C>
SECTION 7.08 (1)         BEGINNING CERTIFICATE ACCOUNT                                     15,863,781.15

SECTION 7.08 (2)         CLASS A DISTRIBUTION AMOUNT                                       13,679,962.12

SECTION 7.08 (5)         REALIZED LOSSES                                                            0.00

SECTION 7.08 (6)         60+ DAY DELINQUENT LOANS                                           6,077,113.09

SECTION 7.08 (8)         THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED                           0.00
                         BECAUSE OF UNDERWATER LOANS

                                                                                                                 PER $1000
                                                                                                                 ---------
SECTION 7.09 (a)(i)      CLASS A-1 DISTRIBUTION                                             4,709,970.50             43.92
                         CLASS A-2 DISTRIBUTION                                             6,521,902.03             46.16
                         CLASS A-3 DISTRIBUTION                                               573,340.00              5.45
                         CLASS A-4 DISTRIBUTION                                               666,604.17              5.44
                         CLASS A-5 DISTRIBUTION                                               660,504.25              5.51
                         CLASS A-6 DISTRIBUTION                                               127,948.67              5.69
                         CLASS A-7 DISTRIBUTION                                               419,692.50              5.75
                         CLASS A-8 DISTRIBUTION                                               252,339.50              5.95
                         CLASS A-9 DISTRIBUTION                                               250,276.13              6.09
                         CLASS A-10 DISTRIBUTION                                              391,300.00              5.73
                         CLASS A-11IO DISTRIBUTION                                            483,437.50              7.08
                         CLASS M-1 DISTRIBUTION                                               230,100.00              5.90
                         CLASS M-2 DISTRIBUTION                                               326,665.63              6.09
                         CLASS B DISTRIBUTION                                                 246,675.00              6.33
                         CLASS R DISTRIBUTION                                                       0.00


SECTION 7.09 (a)(ii)     CLASS A PRINCIPAL DISTRIBUTION
                                                  INSTALLMENT PRINCIPAL COLLECTED             609,603.68              0.63
                                                  PRINCIPAL PREPAYMENTS                     6,305,442.51              6.47
                                                  EXTRA PRINCIPAL DISTRIBUTION AMOUNT       3,126,036.25              3.21
                                                  PRIN PREPAY FROM PRE-FUND ACCT                    0.00              0.00
                                                  OTHER                                             0.00              0.00


SECTION 7.09 (a)(iv)     CLASS A-1 CARRYFORWARD                                                     0.00
                         CLASS A-2 CARRYFORWARD                                                     0.00
                         CLASS A-3 CARRYFORWARD                                                     0.00
                         CLASS A-4 CARRYFORWARD                                                     0.00
                         CLASS A-5 CARRYFORWARD                                                     0.00
                         CLASS A-6 CARRYFORWARD                                                     0.00
                         CLASS A-7 CARRYFORWARD                                                     0.00
                         CLASS A-8 CARRYFORWARD                                                     0.00
                         CLASS A-9 CARRYFORWARD                                                     0.00
                         CLASS A-10 CARRYFORWARD                                                    0.00
                         CLASS A-11IO CARRYFORWARD                                                  0.00
                         CLASS M-1 CARRYFORWARD                                                     0.00
                         CLASS M-2 CARRYFORWARD                                                     0.00
                         CLASS B CARRYFORWARD                                                       0.00


SECTION 7.09 (a)(vi)     ENDING AGGREGATE LOAN BALANCE                                    968,084,997.83
                         ENDING NUMBER OF LOANS OUTSTANDING                                       16,528


SECTION 7.09 (a)(viii)   SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                              0.00
                         LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                          0.00


SECTION 7.09 (a)(ix)     WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS                       11.5153%


SECTION 7.09 (a)(x)      HAS A TRIGGER EVENT OCCURRED?                                                NO


SECTION 7.09 (a)(xi)     SENIOR ENHANCEMENT PERCENTAGE                                           13.9193%


SECTION 7.09 (a)(xii)    OVERCOLLATERALIZATION AMOUNT                                       3,126,080.27
</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK

--------------------------------------------------------------------------------

<PAGE>   4

--------------------------------------------------------------------------------
                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5
================================================================================

         DISTRIBUTION:     20-Oct-97                                    PAGE # 3



<TABLE>
<CAPTION>
                                                                    CLASS M-1             CLASS M-2               CLASS B
                                                               ----------------------------------------------------------
<S>                        <C>                                      <C>                   <C>                     <C>
SECTION 7.09 (a)(xiiI)     APPLIED REALIZED LOSS AMOUNT                  0.00                  0.00                  0.00
                           REALIZED LOSS AMORTIZATION AMOUNT             0.00                  0.00                  0.00
                           UNPAID REALIZED LOSS AMOUNT                   0.00                  0.00                  0.00
</TABLE>


SECTION 7.09 (b)(i)        NUMBER AND AGGREGATE PRINCIPAL BALANCES OF
                           DELINQUENT MORTGAGE LOANS:*


<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
    CATEGORY               COUNT            AGG. PRIN. BAL.     PERCENTAGE
--------------------------------------------------------------------------------
<S>                        <C>              <C>                 <C>
   30-59 DAYS               587              34,058,978.37        3.52%
   60-89 DAYS               105               5,312,760.47        0.55%
   90 + DAYS                12                 764,352.62         0.08%
--------------------------------------------------------------------------------
</TABLE>

*    The number and aggregate principal balances of delinquent mortgage loans
     includes loans in foreclosure and bankruptcy


<TABLE>
<S>                            <C>                                                          <C>
SECTION 7.09 (b)(ii)           NUMBER OF LOANS IN FORECLOSURE                                            2

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE               109,170.31

                               NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                               IN THE PRIOR MONTH                                                        0

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                               THAT WERE COMMENCED IN THE PRIOR MONTH                                 0.00


SECTION 7.09 (b)(iii)          NUMBER OF LOANS IN BANKRUPTCY                                            23

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY             1,084,041.51

                               NUMBER OF LOANS THAT ARE "BALLOON" LOANS                               6132

                               AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"           437,903,357.77


SECTION 7.09 (b)(iv)           NUMBER OF REO PROPERTIES                                                  0

                               AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                          0.00


SECTION 7.09 (b)(v)            BOOK VALUE OF REO PROPERTY                                             0.00

SECTION 7.09 (b)(vi)           CUMULATIVE LOSS PERCENTAGE                                      0.00000000%

                               CUMULATIVE REALIZED LOSSES                                             0.00

                               ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH)                       0.00000000%
</TABLE>





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK

--------------------------------------------------------------------------------
<PAGE>   5

                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

      DISTRIBUTION:  20-Nov-97                                         PAGE # 1




<TABLE>
<CAPTION>
              ORIGINAL           BEGINNING                                                             ENDING
             CERTIFICATE        CERTIFICATE         PRINCIPAL         INTEREST           TOTAL         CERTIFICATE
 CLASS         BALANCE            BALANCE          DISTRIBUTION     DISTRIBUTION    DISTRIBUTION       BALANCE

--------------------------------------------------------------------------------------------------------------------
<S>        <C>                  <C>                 <C>                <C>           <C>              <C>
  A-1      107,250,000.00       103,121,860.75      4,119,280.21       559,436.09     4,678,716.30     99,002,580.54
  A-2      141,300,000.00       135,387,056.81      9,943,417.42       666,273.55    10,609,690.97    125,443,639.38
  A-3      105,200,000.00       105,200,000.00              0.00       573,340.00       573,340.00    105,200,000.00
  A-4      122,500,000.00       122,500,000.00              0.00       666,604.17       666,604.17    122,500,000.00
  A-5      119,910,000.00       119,910,000.00              0.00       660,504.25       660,504.25    119,910,000.00
  A-6       22,480,000.00        22,480,000.00              0.00       127,948.67       127,948.67     22,480,000.00
  A-7       72,990,000.00        72,990,000.00              0.00       419,692.50       419,692.50     72,990,000.00
  A-8       42,410,000.00        42,410,000.00              0.00       252,339.50       252,339.50     42,410,000.00
  A-9       41,085,000.00        41,085,000.00              0.00       250,276.13       250,276.13     41,085,000.00
 A-10       68,250,000.00        68,250,000.00              0.00       391,300.00       391,300.00     68,250,000.00
  M-1       39,000,000.00        39,000,000.00              0.00       230,100.00       230,100.00     39,000,000.00
  M-2       53,625,000.00        53,625,000.00              0.00       326,665.63       326,665.63     53,625,000.00
   B        39,000,000.00        39,000,000.00              0.00       246,675.00       246,675.00     39,000,000.00
   R         N/A                 N/A                N/A                      0.00             0.00     N/A
----------------------------------------------------------------------------------------------------------------------
TOTALS     975,000,000.00       964,958,917.56     14,062,697.63     5,371,155.49    19,433,853.12    950,896,219.92
----------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------
A-11IO      68,250,000.00        68,250,000.00            N/A          483,437.50       483,437.50     68,250,000.00
(NOT'L)
----------------------------------------------------------------------------------------------------------------------



<CAPTION>
                      ENDING
    O/C             PRINCIPAL
   AMOUNT             BALANCE

---------------------------------
<C>                <C>




6,321,691.23       957,217,911.15









-------------------------------------
6,321,691.23           957,217,911.15
-------------------------------------

-------------------------------------
         N/A                      N/A

-------------------------------------


------------------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


                  FACTOR INFORMATION PER $1,000




<TABLE>
<CAPTION>
                                                                                       PASS THRU RATES
             PRINCIPAL       INTEREST          END. CERT.                         INIT PASS        CURR PASS
 CLASS     DISTRIBUTION    DISTRIBUTION         BALANCE           CLASS           THRU RATE        THRU RATE

----------------------------------------------------------      ---------------------------------------------
<S>         <C>               <C>            <C>                  <C>             <C>             <C>
  A-1       38.40820709       5.21618732      923.10098406          A-1           6.51000000%     6.51000000%
  A-2       70.37096549       4.71531175      887.78230277          A-2           5.74625000%     5.71500000%
  A-3        0.00000000       5.45000000     1000.00000000          A-3           6.54000000%     6.54000000%
  A-4        0.00000000       5.44166669     1000.00000000          A-4           6.53000000%     6.53000000%
  A-5        0.00000000       5.50833333     1000.00000000          A-5           6.61000000%     6.61000000%
  A-6        0.00000000       5.69166681     1000.00000000          A-6           6.83000000%     6.83000000%
  A-7        0.00000000       5.75000000     1000.00000000          A-7           6.90000000%     6.90000000%
  A-8        0.00000000       5.95000000     1000.00000000          A-8           7.14000000%     7.14000000%
  A-9        0.00000000       6.09166679     1000.00000000          A-9           7.31000000%     7.31000000%
 A-10        0.00000000       5.73333333     1000.00000000          A-10          6.88000000%     6.88000000%
  M-1        0.00000000       5.90000000     1000.00000000         A-11IO         8.50000000%     8.50000000%
  M-2        0.00000000       6.09166676     1000.00000000          M-1           7.08000000%     7.08000000%
   B         0.00000000       6.32500000     1000.00000000          M-2           7.31000000%     7.31000000%
----------------------------------------------------------            B           7.59000000%     7.59000000%
TOTALS      14.42327962      5.508877426       975.2781743      ---------------------------------------------
----------------------------------------------------------


----------------------------------------------------------
 A-11IO             N/A       7.08333333     1000.00000000
(NOT'L)
----------------------------------------------------------




=============================================================================================================
</TABLE>




          IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                 PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:





                                 ANN MARIE JOSE
              THE CHASE MANHATTAN BANK-STRUCTURED FINANCE SERVICES
                        450 WEST 33RD STREET, 15TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 946-7148




(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE>   6

                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

     DISTRIBUTION:    20-Nov-97                                         PAGE # 2




<TABLE>
<S>                     <C>                                                                    <C>                 <C>
SECTION 7.08 (1)        BEGINNING CERTIFICATE ACCOUNT                                          19,920,281.93


SECTION 7.08 (2)        CLASS A DISTRIBUTION AMOUNT                                            17,736,496.86


SECTION 7.08 (5)        REALIZED LOSSES                                                                 0.00


SECTION 7.08 (6)        60+ DAY DELINQUENT LOANS                                               23,094,371.75


SECTION 7.08 (8)        THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED                                0.00
                        BECAUSE OF UNDERWATER LOANS

                                                                                                                   PER $1000
                                                                                                                   ---------
SECTION 7.09 (a)(i)     CLASS A-1 DISTRIBUTION                                                  4,678,716.30           43.62
                        CLASS A-2 DISTRIBUTION                                                 10,609,690.97           75.09
                        CLASS A-3 DISTRIBUTION                                                    573,340.00            5.45
                        CLASS A-4 DISTRIBUTION                                                    666,604.17            5.44
                        CLASS A-5 DISTRIBUTION                                                    660,504.25            5.51
                        CLASS A-6 DISTRIBUTION                                                    127,948.67            5.69
                        CLASS A-7 DISTRIBUTION                                                    419,692.50            5.75
                        CLASS A-8 DISTRIBUTION                                                    252,339.50            5.95
                        CLASS A-9 DISTRIBUTION                                                    250,276.13            6.09
                        CLASS A-10 DISTRIBUTION                                                   391,300.00            5.73
                        CLASS A-11IO DISTRIBUTION                                                 483,437.50            7.08
                        CLASS M-1 DISTRIBUTION                                                    230,100.00            5.90
                        CLASS M-2 DISTRIBUTION                                                    326,665.63            6.09
                        CLASS B DISTRIBUTION                                                      246,675.00            6.33
                        CLASS R DISTRIBUTION                                                            0.00


SECTION 7.09 (a)(ii)    CLASS A PRINCIPAL DISTRIBUTION
                                          INSTALLMENT PRINCIPAL COLLECTED                         965,547.20            0.99
                                          PRINCIPAL PREPAYMENTS                                 9,901,539.48           10.16
                                          EXTRA PRINCIPAL DISTRIBUTION AMOUNT                   3,023,300.52            3.10
                                          PRIN PREPAY FROM PRE-FUND ACCT                                0.00            0.00
                                          OTHER                                                   172,310.43            0.18


SECTION 7.09 (a)(iv)    CLASS A-1 CARRYFORWARD                                                          0.00
                        CLASS A-2 CARRYFORWARD                                                          0.00
                        CLASS A-3 CARRYFORWARD                                                          0.00
                        CLASS A-4 CARRYFORWARD                                                          0.00
                        CLASS A-5 CARRYFORWARD                                                          0.00
                        CLASS A-6 CARRYFORWARD                                                          0.00
                        CLASS A-7 CARRYFORWARD                                                          0.00
                        CLASS A-8 CARRYFORWARD                                                          0.00
                        CLASS A-9 CARRYFORWARD                                                          0.00
                        CLASS A-10 CARRYFORWARD                                                         0.00
                        CLASS A-11IO CARRYFORWARD                                                       0.00
                        CLASS M-1 CARRYFORWARD                                                          0.00
                        CLASS M-2 CARRYFORWARD                                                          0.00
                        CLASS B CARRYFORWARD                                                            0.00


SECTION 7.09 (a)(vi)    ENDING AGGREGATE LOAN BALANCE                                         957,217,911.15
                        ENDING NUMBER OF LOANS OUTSTANDING                                            16,328


SECTION 7.09 (a)(viii)  SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                              10,860.43
                        LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                         162,157.73


SECTION 7.09 (a)(ix)    WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS                            11.5120%


SECTION 7.09 (a)(x)     HAS A TRIGGER EVENT OCCURRED?                                                     NO


SECTION 7.09 (a)(xi)    SENIOR ENHANCEMENT PERCENTAGE                                                14.4112%


SECTION 7.09 (a)(xii)   OVERCOLLATERALIZATION AMOUNT                                            6,321,691.23
</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK

<PAGE>   7

                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

     DISTRIBUTION:    20-Nov-97                                         PAGE # 3




<TABLE>
<CAPTION>
                                                                 CLASS M-1             CLASS M-2             CLASS B
                                                                 ----------------------------------------------------
<S>                      <C>                                     <C>                   <C>                   <C>
SECTION 7.09(a)(xiii)    APPLIED REALIZED LOSS AMOUNT                 0.00                  0.00                0.00
                         REALIZED LOSS AMORTIZATION AMOUNT            0.00                  0.00                0.00
                         UNPAID REALIZED LOSS AMOUNT                  0.00                  0.00                0.00
</TABLE>

SECTION 7.09(b)(i)       NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT
                         MORTGAGE LOANS:

<TABLE>
<CAPTION>
                             CATEGORY         COUNT        AGG. PRIN. BAL         PERCENTAGE
                         -----------------------------------------------------------------------
                         <S>                  <C>          <C>                    <C>
                         30-59 DAYS            893           50,686,725.43                 5.29%
                         60-89 DAYS            288           18,301,032.61                 1.91%
                         90 + DAYS              82            4,793,339.14                 0.50%
</TABLE>

                         * The number and aggregate principal balances of
                         delinquent mortgage loans includes loans in
                         foreclosure and bankruptcy


<TABLE>
<S>                      <C>                                                                          <C>
SECTION 7.09(b)(ii)      NUMBER OF LOANS IN FORECLOSURE                                                            5

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE                              345,737.01

                         NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED IN
                         THE PRIOR MONTH                                                                           3

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                         THAT WERE COMMENCED IN THE PRIOR MONTH                                           238,579.24

SECTION 7.09(b)(iii)     NUMBER OF LOANS IN BANKRUPTCY                                                            47

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                             2,622,783.48

                         NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                               6068

                         AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                           432,209,506.61


SECTION 7.09(b)(iv)      NUMBER OF REO PROPERTIES                                                                  0

                         AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                          0.00



SECTION 7.09(b)(v)       BOOK VALUE OF REO PROPERTY                                                             0.00


SECTION 7.09(b)(vi)      CUMULATIVE LOSS PERCENTAGE                                                       0.00000000%

                         CUMULATIVE REALIZED LOSSES                                                             0.00

                         ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH)                                        0.00000000%
</TABLE>






(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------
<PAGE>   8
                                                                      EXHIBIT 19

                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

DISTRIBUTION:         22-Dec-97                                         PAGE # 1


<TABLE>
<CAPTION>
          ORIGINAL       BEGINNING                                                        ENDING                      ENDING
         CERTIFICATE    CERTIFICATE       PRINCIPAL       INTEREST        TOTAL        CERTIFICATE       O/C        PRINCIPAL
 CLASS     BALANCE       BALANCE        DISTRIBUTION    DISTRIBUTION   DISTRIBUTION      BALANCE        AMOUNT       BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>              <C>            <C>            <C>             <C>            <C>           <C>
  A-1   107,250,000.00    99,002,580.54    4,110,483.90    537,089.00   4,647,572.90    94,892,096.64
  A-2   141,300,000.00   125,443,639.38    7,833,980.33    644,222.78   8,478,203.11   117,609,659.05
  A-3   105,200,000.00   105,200,000.00            0.00    573,340.00     573,340.00   105,200,000.00
  A-4   122,500,000.00   122,500,000.00            0.00    666,604.17     666,604.17   122,500,000.00
  A-5   119,910,000.00   119,910,000.00            0.00    660,504.25     660,504.25   119,910,000.00  9,284,881.11  948,236,636.80
  A-6    22,480,000.00    22,480,000.00            0.00    127,948.67     127,948.67    22,480,000.00
  A-7    72,990,000.00    72,990,000.00            0.00    419,692.50     419,692.50    72,990,000.00
  A-8    42,410,000.00    42,410,000.00            0.00    252,339.50     252,339.50    42,410,000.00
  A-9    41,085,000.00    41,085,000.00            0.00    250,276.13     250,276.13    41,085,000.00
 A-10    68,250,000.00    68,250,000.00            0.00    391,300.00     391,300.00    68,250,000.00
  M-1    39,000,000.00    39,000,000.00            0.00    230,100.00     230,100.00    39,000,000.00
  M-2    53,625,000.00    53,625,000.00            0.00    326,665.63     326,665.63    53,625,000.00
   B     39,000,000.00    39,000,000.00            0.00    246,675.00     246,675.00    39,000,000.00
   R        N/A            N/A             N/A                   0.00           0.00        N/A
-----------------------------------------------------------------------------------------------------------------------------------
TOTALS  975,000,000.00   950,896,219.92   11,944,464.23  5,326,757.63  17,271,221.86   938,951,755.69  9,284,881.11  948,236,636.80
-----------------------------------------------------------------------------------------------------------------------------------


-----------------------------------------------------------------------------------------------------------------------------------
A-11IO   68,250,000.00    68,250,000.00             N/A    483,437.50     483,437.50    68,250,000.00           N/A             N/A
(NOT'L)
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------

         FACTOR INFORMATION PER $1,000


                                                                                       PASS THRU RATES


          PRINCIPAL          INTEREST    END. CERT.                                       INIT PASS     CURR PASS
  CLASS  DISTRIBUTION      DISTRIBUTION   BALANCE                         CLASS          THRU RATE      THRU RATE
--------------------------------------------------------                --------------------------------------------
<S>      <C>               <C>           <C>                              <C>            <C>            <C>
  A-1      38.32619021       5.00782284    884.77479385                    A-1             6.51000000%   6.51000000%
  A-2      55.44218210       4.55925534    832.34012067                    A-2             5.74625000%   5.77750000%
  A-3       0.00000000       5.45000000   1000.00000000                    A-3             6.54000000%   6.54000000%
  A-4       0.00000000       5.44166669   1000.00000000                    A-4             6.53000000%   6.53000000%
  A-5       0.00000000       5.50833333   1000.00000000                    A-5             6.61000000%   6.61000000%
  A-6       0.00000000       5.69166681   1000.00000000                    A-6             6.83000000%   6.83000000%
  A-7       0.00000000       5.75000000   1000.00000000                    A-7             6.90000000%   6.90000000%
  A-8       0.00000000       5.95000000   1000.00000000                    A-8             7.14000000%   7.14000000%
  A-9       0.00000000       6.09166679   1000.00000000                    A-9             7.31000000%   7.31000000%
 A-10       0.00000000       5.73333333   1000.00000000                    A-10            6.88000000%   6.88000000%
  M-1       0.00000000       5.90000000   1000.00000000                   A-11IO           8.50000000%   8.50000000%
  M-2       0.00000000       6.09166676   1000.00000000                     M-1            7.08000000%   7.08000000%
   B        0.00000000       6.32500000   1000.00000000                     M-2            7.31000000%   7.31000000%
--------------------------------------------------------                --------------------------------------------
TOTALS     12.25073254      5.463341159     963.0274417                      B             7.59000000%   7.59000000%
--------------------------------------------------------                --------------------------------------------


--------------------------------------------------------
A-11IO             N/A       7.08333333   1000.00000000
(NOT'L)
--------------------------------------------------------
</TABLE>





 IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
 ADMINISTRATOR LISTED BELOW:





                                 ANN MARIE JOSE
              THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
                        450 WEST 33RD STREET, 15TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 946-7148

<PAGE>   9


                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

DISTRIBUTION:                22-Dec-97                                  PAGE # 2

<TABLE>
<S>                               <C>                                                                    <C>              <C>
SECTION 7.08 (1)                  BEGINNING CERTIFICATE ACCOUNT                                           17,757,622.60


SECTION 7.08 (2)                  CLASS A DISTRIBUTION AMOUNT                                             15,573,865.60


SECTION 7.08 (5)                  REALIZED LOSSES                                                                 0.00


SECTION 7.08 (6)                  60+ DAY DELINQUENT LOANS                                                33,426,168.00


SECTION 7.08 (8)                  THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED                                 0.00
                                  BECAUSE OF UNDERWATER LOANS

                                                                                                                          PER $1000
SECTION 7.09 (a)(i)               CLASS A-1 DISTRIBUTION                                                   4,647,572.90       43.33
                                  CLASS A-2 DISTRIBUTION                                                   8,478,203.11       60.00
                                  CLASS A-3 DISTRIBUTION                                                     573,340.00        5.45
                                  CLASS A-4 DISTRIBUTION                                                     666,604.17        5.44
                                  CLASS A-5 DISTRIBUTION                                                     660,504.25        5.51
                                  CLASS A-6 DISTRIBUTION                                                     127,948.67        5.69
                                  CLASS A-7 DISTRIBUTION                                                     419,692.50        5.75
                                  CLASS A-8 DISTRIBUTION                                                     252,339.50        5.95
                                  CLASS A-9 DISTRIBUTION                                                     250,276.13        6.09
                                  CLASS A-10 DISTRIBUTION                                                    391,300.00        5.73
                                  CLASS A-11IO DISTRIBUTION                                                  483,437.50        7.08
                                  CLASS M-1 DISTRIBUTION                                                     230,100.00        5.90
                                  CLASS M-2 DISTRIBUTION                                                     326,665.63        6.09
                                  CLASS B DISTRIBUTION                                                       246,675.00        6.33
                                  CLASS R DISTRIBUTION                                                             0.00


SECTION 7.09 (a)(ii)              CLASS A PRINCIPAL DISTRIBUTION
                                                    INSTALLMENT PRINCIPAL COLLECTED                          807,589.60        0.83
                                                    PRINCIPAL PREPAYMENTS                                  8,173,684.75        8.38
                                                    EXTRA PRINCIPAL DISTRIBUTION AMOUNT                    2,963,189.88        3.04
                                                    PRIN PREPAY FROM PRE-FUND ACCT                                 0.00        0.00
                                                    OTHER                                                          0.00        0.00


SECTION 7.09 (a)(iv)              CLASS A-1 CARRYFORWARD                                                           0.00
                                  CLASS A-2 CARRYFORWARD                                                           0.00
                                  CLASS A-3 CARRYFORWARD                                                           0.00
                                  CLASS A-4 CARRYFORWARD                                                           0.00
                                  CLASS A-5 CARRYFORWARD                                                           0.00
                                  CLASS A-6 CARRYFORWARD                                                           0.00
                                  CLASS A-7 CARRYFORWARD                                                           0.00
                                  CLASS A-8 CARRYFORWARD                                                           0.00
                                  CLASS A-9 CARRYFORWARD                                                           0.00
                                  CLASS A-10 CARRYFORWARD                                                          0.00
                                  CLASS A-11IO CARRYFORWARD                                                        0.00
                                  CLASS M-1 CARRYFORWARD                                                           0.00
                                  CLASS M-2 CARRYFORWARD                                                           0.00
                                  CLASS B CARRYFORWARD                                                             0.00


SECTION 7.09 (a)(vi)              ENDING AGGREGATE LOAN BALANCE                                          948,236,636.80
                                  ENDING NUMBER OF LOANS OUTSTANDING                                             16,202


SECTION 7.09 (a)(viii)            SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                                    0.00
                                  LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                                0.00


SECTION 7.09 (a)(ix)              WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS                             11.5081%


SECTION 7.09 (a)(x)               HAS A TRIGGER EVENT OCCURRED?                                                      NO


SECTION 7.09 (a)(xi)              SENIOR ENHANCEMENT PERCENTAGE                                                 14.8602%


SECTION 7.09 (a)(xii)             OVERCOLLATERALIZATION AMOUNT                                             9,284,881.11
</TABLE>


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK


<PAGE>   10

                           IMC HOME EQUITY LOAN TRUST
                            PASS-THROUGH CERTIFICATES
                                  SERIES 1997-5

DISTRIBUTION:       22-Dec-97                                           PAGE # 3

<TABLE>
<CAPTION>
                                                                                      CLASS M-1          CLASS M-2         CLASS B
                                                                                --------------------------------------------------
<S>                      <C>                                                    <C>                      <C>              <C>
SECTION 7.09 (a)(xiiI)   APPLIED REALIZED LOSS AMOUNT                                      0.00               0.00            0.00
                         REALIZED LOSS AMORTIZATION AMOUNT                                 0.00               0.00            0.00
                         UNPAID REALIZED LOSS AMOUNT                                       0.00               0.00            0.00



SECTION 7.09 (b)(i)      NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*


<CAPTION>
                         --------------------------------------------------------------------------------------------------
                                        CATEGORY               COUNT          AGG. PRIN. BAL.         PERCENTAGE
                         --------------------------------------------------------------------------------------------------
                         <S>                                   <C>            <C>                     <C>
                                       30-59 DAYS                899                49,534,118.00        5.22%
                                       60-89 DAYS                331                17,732,604.00        1.87%
                                       90 + DAYS                 246                15,693,564.00        1.66%
                         --------------------------------------------------------------------------------------------------

                         *The number and aggregate principal balances of delinquent mortgage loans includes loans in
                          foreclosure and bankruptcy


SECTION 7.09 (b)(ii)     NUMBER OF LOANS IN FORECLOSURE                                                                          8

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                             715,864.84



                         NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                         IN THE PRIOR MONTH                                                                                    N/A

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                         THAT WERE COMMENCED IN THE PRIOR MONTH                                                                N/A




SECTION 7.09 (b)(iii)    NUMBER OF LOANS IN BANKRUPTCY                                                                          65

                         AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                           3,716,001.55



                         NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                              N/A

                         AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                                    N/A




SECTION 7.09 (b)(iv)     NUMBER OF REO PROPERTIES                                                                                0

                         AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                                        0.00




SECTION 7.09 (b)(v)      BOOK VALUE OF REO PROPERTY                                                                           0.00


SECTION 7.09 (b)(vi)     CUMULATIVE LOSS PERCENTAGE                                                                     0.00000000%

                         CUMULATIVE REALIZED LOSSES                                                                           0.00

                         ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH)                                                      0.00000000%
</TABLE>


<PAGE>   11
                           IMC HOME EQUITY LOAN TRUST
                           PASS-THROUGH CERTIFICATES
                                 SERIES 1997-5

             DISTRIBUTION:         20-Jan-98                         PAGE # 1

<TABLE>
<CAPTION>

           ORIGINAL        BEGINNING                                                          ENDING                        ENDING
          CERTIFICATE     CERTIFICATE       PRINCIPAL         INTEREST          TOTAL       CERTIFICATE       O/C          PRINCIPAL
 CLASS      BALANCE         BALANCE       DISTRIBUTION      DISTRIBUTION    DISTRIBUTION      BALANCE        AMOUNT         BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>              <C>             <C>               <C>          <C>            <C>             <C>           <C>
  A-1    107,250,000.00    94,892,096.64   4,101,750.33     514,789.62    4,616,539.95   90,790,346.31
  A-2    141,300,000.00   117,609,659.05  11,116,722.72     574,012.73   11,690,735.45  106,492,936.33
  A-3    105,200,000.00   105,200,000.00           0.00     573,340.00      573,340.00  105,200,000.00
  A-4    122,500,000.00   122,500,000.00           0.00     666,604.17      666,604.17  122,500,000.00
  A-5    119,910,000.00   119,910,000.00           0.00     660,504.25      660,504.25  119,910,000.00  12,250,260.42 935,983,543.06
  A-6     22,480,000.00    22,480,000.00           0.00     127,948.67      127,948.67   22,480,000.00
  A-7     72,990,000.00    72,990,000.00           0.00     419,692.50      419,692.50   72,990,000.00
  A-8     42,410,000.00    42,410,000.00           0.00     252,339.50      252,339.50   42,410,000.00
  A-9     41,085,000.00    41,085,000.00           0.00     250,276.13      250,276.13   41,085,000.00
  A-10    68,250,000.00    68,250,000.00           0.00     391,300.00      391,300.00   68,250,000.00
  M-1     39,000,000.00    39,000,000.00           0.00     230,100.00      230,100.00   39,000,000.00
  M-2     53,625,000.00    53,625,000.00           0.00     326,665.63      326,665.63   53,625,000.00
   B      39,000,000.00    39,000,000.00           0.00     246,675.00      246,675.00   39,000,000.00
   R          N/A             N/A            N/A                  0.00            0.00        N/A
------------------------------------------------------------------------------------------------------------------------------------
TOTALS   975,000,000.00   938,951,755.69  15,218,473.05   5,234,248.20   20,452,721.25  923,733,282.64  12,250,260.42 935,983,543.06
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
A-11IO    68,250,000.00    68,250,000.00            N/A     483,437.50      483,437.50   68,250,000.00            N/A            N/A
(NOT'L)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

         FACTOR INFORMATION PER $1,000


                                                                                                PASS THRU RATES


             PRINCIPAL         INTEREST          END. CERT.                                        INIT PASS     CURR PASS
 CLASS     DISTRIBUTION      DISTRIBUTION          BALANCE                            CLASS        THRU RATE     THRU RATE
---------------------------------------------------------------                       ---------------------------------------
<S>        <C>               <C>                <C>                                   <C>          <C>           <C>
  A-1         38.24475832         4.79990322       846.53003552                        A-1          6.51000000%   6.51000000%
  A-2         78.67461232         4.06236893       753.66550835                        A-2          5.74625000%   6.05875000%
  A-3          0.00000000         5.45000000      1000.00000000                        A-3          6.54000000%   6.54000000%
  A-4          0.00000000         5.44166669      1000.00000000                        A-4          6.53000000%   6.53000000%
  A-5          0.00000000         5.50833333      1000.00000000                        A-5          6.61000000%   6.61000000%
  A-6          0.00000000         5.69166681      1000.00000000                        A-6          6.83000000%   6.83000000%
  A-7          0.00000000         5.75000000      1000.00000000                        A-7          6.90000000%   6.90000000%
  A-8          0.00000000         5.95000000      1000.00000000                        A-8          7.14000000%   7.14000000%
  A-9          0.00000000         6.09166679      1000.00000000                        A-9          7.31000000%   7.31000000%
  A-10         0.00000000         5.73333333      1000.00000000                        A-10         6.88000000%   6.88000000%
  M-1          0.00000000         5.90000000      1000.00000000                        A-11IO       8.50000000%   8.50000000%
  M-2          0.00000000         6.09166676      1000.00000000                        M-1          7.08000000%   7.08000000%
  B            0.00000000         6.32500000      1000.00000000                        M-2          7.31000000%   7.31000000%
---------------------------------------------------------------                        B            7.59000000%   7.59000000%
TOTALS   15.6086903091569   5.36845969230769   947.418751425285                      ----------------------------------------
---------------------------------------------------------------

---------------------------------------------------------------
A-11IO                 N/A        7.08333333      1000.00000000
(NOT'L)
---------------------------------------------------------------
</TABLE>


          IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                 PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:


                                 ANN MARIE JOSE
             THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
                        450 WEST 33RD STREET, 15TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 946-7148



(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK
<PAGE>   12
                           IMC HOME EQUITY LOAN TRUST
                           PASS-THROUGH CERTIFICATES
                                 SERIES 1997-5

          DISTRIBUTION:               20-Jan-98                        PAGE # 2

<TABLE>
<CAPTION>
<S>                    <C>                                                                          <C>                    <C>
 SECTION 7.08 (1)      BEGINNING CERTIFICATE ACCOUNT                                                20,939,083.70


 SECTION 7.08 (2)      CLASS A DISTRIBUTION AMOUNT                                                  18,755,364.99


 SECTION 7.08 (5)      REALIZED LOSSES                                                                       0.00


 SECTION 7.08 (6)      60+ DAY DELINQUENT LOANS                                                     37,496,204.12


 SECTION 7.08 (8)      THE AMOUNT BY WHICH THE SERVICING FEE IS REDUCED                                      0.00
                       BECAUSE OF UNDERWATER LOANS

                                                                                                                           PER $1000
                                                                                                                           ---------
 SECTION 7.09 (a)(i)   CLASS A-1 DISTRIBUTION                                                        4,616,539.95             43.04
                       CLASS A-2 DISTRIBUTION                                                       11,690,735.45             82.74
                       CLASS A-3 DISTRIBUTION                                                          573,340.00              5.45
                       CLASS A-4 DISTRIBUTION                                                          666,604.17              5.44
                       CLASS A-5 DISTRIBUTION                                                          660,504.25              5.51
                       CLASS A-6 DISTRIBUTION                                                          127,948.67              5.69
                       CLASS A-7 DISTRIBUTION                                                          419,692.50              5.75
                       CLASS A-8 DISTRIBUTION                                                          252,339.50              5.95
                       CLASS A-9 DISTRIBUTION                                                          250,276.13              6.09
                       CLASS A-10 DISTRIBUTION                                                         391,300.00              5.73
                       CLASS A-11IO DISTRIBUTION                                                       483,437.50              7.08
                       CLASS M-1 DISTRIBUTION                                                          230,100.00              5.90
                       CLASS M-2 DISTRIBUTION                                                          326,665.63              6.09
                       CLASS B DISTRIBUTION                                                            246,675.00              6.33
                       CLASS R DISTRIBUTION                                                                  0.00


 SECTION 7.09 (a)(ii)  CLASS A PRINCIPAL DISTRIBUTION
                                                INSTALLMENT PRINCIPAL COLLECTED                        766,486.31              0.79
                                                PRINCIPAL PREPAYMENTS                               11,486,607.43             11.78
                                                EXTRA PRINCIPAL DISTRIBUTION AMOUNT                  2,965,379.31              3.04
                                                PRIN PREPAY FROM PRE-FUND ACCT                               0.00              0.00
                                                OTHER                                                        0.00              0.00


 SECTION 7.09 (a)(iv)  CLASS A-1 CARRYFORWARD                                                                0.00
                       CLASS A-2 CARRYFORWARD                                                                0.00
                       CLASS A-3 CARRYFORWARD                                                                0.00
                       CLASS A-4 CARRYFORWARD                                                                0.00
                       CLASS A-5 CARRYFORWARD                                                                0.00
                       CLASS A-6 CARRYFORWARD                                                                0.00
                       CLASS A-7 CARRYFORWARD                                                                0.00
                       CLASS A-8 CARRYFORWARD                                                                0.00
                       CLASS A-9 CARRYFORWARD                                                                0.00
                       CLASS A-10 CARRYFORWARD                                                               0.00
                       CLASS A-11IO CARRYFORWARD                                                             0.00
                       CLASS M-1 CARRYFORWARD                                                                0.00
                       CLASS M-2 CARRYFORWARD                                                                0.00
                       CLASS B CARRYFORWARD                                                                  0.00


 SECTION 7.09 (a)(vi)  ENDING AGGREGATE LOAN BALANCE                                               935,983,543.06
                       ENDING NUMBER OF LOANS OUTSTANDING                                                  16,000


 SECTION 7.09 (a)(viii)SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                                         0.00
                       LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                                     0.00


 SECTION 7.09 (a)(ix)  WEIGHTED AVERAGE COUPON RATE OF HOME EQUITY LOANS                                  11.5045%


 SECTION 7.09 (a)(x)   HAS A TRIGGER EVENT OCCURRED?                                                            NO


 SECTION 7.09 (a)(xi)  SENIOR ENHANCEMENT PERCENTAGE                                                      15.3716%


 SECTION 7.09 (a)(xii) OVERCOLLATERALIZATION AMOUNT                                                 12,250,260.42

</TABLE>


 (C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
<PAGE>   13
                           IMC HOME EQUITY LOAN TRUST
                           PASS-THROUGH CERTIFICATES
                                 SERIES 1997-5

     DISTRIBUTION:                 20-Jan-98                          PAGE # 3


<TABLE>
<CAPTION>

                                                                                  CLASS M-1          CLASS M-2          CLASS B
                                                                                ------------------------------------------------
<S>                    <C>                     <C>                  <C>           <C>                <C>                <C>
SECTION 7.09 (a)(xiii) APPLIED REALIZED LOSS AMOUNT                                  0.00               0.00              0.00
                       REALIZED LOSS AMORTIZATION AMOUNT                             0.00               0.00              0.00
                       UNPAID REALIZED LOSS AMOUNT                                   0.00               0.00              0.00



SECTION 7.09 (b)(i)    NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*


                         CATEGORY                 COUNT            AGG. PRIN. BAL.                PERCENTAGE
                        ------------------------------------------------------------------------------------

                        30-59 DAYS                 344               18,095,498.10                     1.93%
                        60-89 DAYS                 230               11,762,257.89                     1.26%
                         90 + DAYS                 426               25,733,946.23                     2.75%
                        ------------------------------------------------------------------------------------

           *The number and aggregate principal balances of delinquent mortgage loans includes loans in foreclosure and bankruptcy


SECTION 7.09 (b)(ii)   NUMBER OF LOANS IN FORECLOSURE                                                                       16

                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                         1,369,829.69



                       NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                       IN THE PRIOR MONTH                                                                                    9

                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                       THAT WERE COMMENCED IN THE PRIOR MONTH                                                       804,268.64



SECTION 7.09 (b)(iii)  NUMBER OF LOANS IN BANKRUPTCY                                                                        84

                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                         4,685,942.52



                       NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                           5938

                       AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                       423,082,965.59




SECTION 7.09 (b)(iv)   NUMBER OF REO PROPERTIES                                                                              0

                       AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                                      0.00




SECTION 7.09 (b)(v)    BOOK VALUE OF REO PROPERTY                                                                         0.00


SECTION 7.09 (b)(vi)   CUMULATIVE LOSS PERCENTAGE                                                                   0.00000000%

                       CUMULATIVE REALIZED LOSSES                                                                         0.00

                       ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH)                                                    0.00000000%


</TABLE>
















(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK