<PAGE>   1
                                                                    EXHIBIT 99.3

                           IMC HOME EQUITY LOAN TRUST
                           PASS-THROUGH CERTIFICATES
                                 SERIES 1998-1

DISTRIBUTION: APRIL 1998-JANUARY 1999                                  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     334,270,000.00   334,270,000.00  178,089,005.96  13,278,402.37  191,367,408.33 156,180,994.04
 A-2     137,610,000.00   137,610,000.00            0.00   7,235,992.50    7,235,992.50 137,610,000.00
 A-3     151,170,000.00   151,170,000.00            0.00   8,074,997.50    8,074,997.50 151,170,000.00
 A-4     101,640,000.00   101,640,000.00            0.00   5,590,200.00    5,590,200.00 101,640,000.00
 A-5      70,310,000.00    70,310,000.00            0.00   4,072,120.80    4,072,120.80  70,310,000.00  21,500,307.77 843,411,301.81
 A-6      70,000,000.00    70,000,000.00            0.00   3,803,333.30    3,803,333.30  70,000,000.00
 M-1      47,500,000.00    47,500,000.00            0.00   2,782,708.30    2,782,708.30  47,500,000.00
 M-2      45,000,000.00    45,000,000.00            0.00   2,767,500.00    2,767,500.00  45,000,000.00
  B       42,500,000.00    42,500,000.00            0.00   2,787,291.70    2,787,291.70  42,500,000.00
  R         N/A               N/A             N/A          6,734,885.44    6,734,885.44    N/A
------------------------------------------------------------------------------------------------------------------------------------
TOTALS 1,000,000,000.00 1,000,000,000.00  178,089,005.96  57,127,431.91  235,216,437.87  821,910,994.04 21,500,307.77 843,411,301.81
------------------------------------------------------------------------------------------------------------------------------------


------------------------------------------------------------------------------------------------------------------------------------
 A-7IO    70,000,000.00    70,000,000.00             N/A   4,812,500.00    4,812,500.00   70,000,000.00           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       532.76993439      39.72358384     467.23006561          A-1    5.79750000% 5.73438000%
  A-2         0.00000000      52.58333333    1000.00000000          A-2    6.31000000% 6.31000000%
  A-3         0.00000000      53.41666667    1000.00000000          A-3    6.41000000% 6.41000000%
  A-4         0.00000000      55.00000000    1000.00000000          A-4    6.60000000% 6.60000000%
  A-5         0.00000000      57.91666619    1000.00000000          A-5    6.95000000% 6.95000000%
  A-6         0.00000000      54.33333286    1000.00000000          A-6    6.52000000% 6.52000000%
  M-1         0.00000000      58.58333263    1000.00000000         A-7IO   8.25000000% 8.25000000%
  M-2         0.00000000      61.50000000    1000.00000000          M-1    7.03000000% 7.03000000%
   B          0.00000000      65.58333412    1000.00000000          M-2    7.38000000% 7.38000000%
-----------------------------------------------------------          B     7.87000000% 7.87000000%
TOTALS        178.089006      57.12743191       821.910994        ---------------------------------
-----------------------------------------------------------



-----------------------------------------------------------
 A-7IO               N/A      68.75000000    1000.00000000
(NOT'L)
-----------------------------------------------------------
</TABLE>



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



                                 THOMAS ROLLAUER
              THE CHASE MANHATTAN BANK- STRUCTURED FINANCE SERVICES
                        450 WEST 33RD STREET, 15TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 946-3881






(C) COPYRIGHT 1997, THE CHASE MANHATTAN BANK

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