<PAGE>   1
                                                                    EXHIBIT 99.3

<PAGE>   2
                        IMC HOME EQUITY LOAN OWNER TRUST
                      HOME EQUITY LOAN ASSET-BACKED NOTES
                                 SERIES 1997-8



         DISTRIBUTION:     20-Jan-98                            PAGE # 1



<TABLE>
<CAPTION>


   ORIGINAL        BEGINNING                                                         ENDING              OVER-           ENDING
     NOTE            NOTE          PRINCIPAL         INTEREST         TOTAL          NOTE         COLLATERALIZATION      LOAN
   BALANCE          BALANCE       DISTRIBUTION     DISTRIBUTION    DISTRIBUTION     BALANCE            AMOUNT          BALANCE
----------------------------------------------------------------------------------------------------------------------------------
<S>               <C>             <C>             <C>             <C>            <C>             <C>                <C>
  307,785,257.00  307,785,257.00  3,942,334.10    1,116,747.51    5,059,081.61   303,842,922.90     1,277,473.95    305,120,396.85
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>

     FACTOR INFORMATION PER $1,000                                                        NOTE RATES


       PRINCIPAL        INTEREST      ENDING NOTE                                           INIT NOTE           CURR NOTE
      DISTRIBUTION    DISTRIBUTION      BALANCE                                                RATE               RATE
      -------------------------------------------                                         --------------------------------
      <S>             <C>            <C>                                                   <C>                 <C>
       12.80871648     3.62833334    987.19128352                                           6.2200%            6.2200%
      -------------------------------------------                                         --------------------------------

</TABLE>


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

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


(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
<PAGE>   3
                        IMC HOME EQUITY LOAN OWNER TRUST
                      HOME EQUITY LOAN ASSET-BACKED NOTES
                                 SERIES 1997-8



        DISTRIBUTION:       20-Jan-98                                 PAGE # 2


<TABLE>
<CAPTION>
<S>                   <C>                                                                <C>                 <C>
SECTION 3.08 (1)      BEGINNING NOTE ACCOUNT BALANCE                                       5,111,752.94


SECTION 3.08 (2)      MONTHLY DISTRIBUTION AMOUNT                                          5,059,081.61


SECTION 3.08 (3)      OVERCOLLATERALIZATION INCREASE AMOUNT                                1,277,473.95


SECTION 3.08 (4)      INSURED PAYMENT                                                              0.00


SECTION 3.08 (7)      REALIZED LOSSES                                                              0.00


SECTION 3.08 (8)      OVERCOLLATERALIZATION REDUCTION AMOUNT                                       0.00

                                                                                                             PER $1000
                                                                                                             ---------
SECTION 3.09 (a)(i)   NOTE DISTRIBUTION                                                    5,059,081.61         16.44


SECTION 3.09 (a)(ii)  PRINCIPAL DISTRIBUTION
                                       INSTALLMENT PRINCIPAL COLLECTED                       182,701.28          0.59
                                       PRINCIPAL PREPAYMENTS                               2,482,158.87          8.06
                                       OVERCOLLATERALIZATION INCREASE AMOUNT               1,277,473.95          4.15
                                       OTHER                                                       0.00          0.00



SECTION 3.09 (a)(iv)  CARRYFORWARD AMOUNT                                                          0.00


SECTION 3.09 (a)(v)   INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION                             0.00


SECTION 3.09 (a)(vi)  ENDING AGGREGATE LOAN BALANCE                                      305,120,396.85
                      ENDING NUMBER OF LOANS OUTSTANDING                                          3,002


SECTION 3.09 (a)(vii) OVERCOLLATERALIZATION AMOUNT                                         1,277,473.95
                      OVERCOLLATERALIZATION DEFICIT                                                0.00


SECTION 3.09 (a)(ix)  SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                                0.00
                      LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                            0.00


SECTION 3.09 (a)(x)   WEIGHTED AVERAGE COUPON OF THE HOME EQUITY LOANS                          10.0313%


SECTION 3.09 (a)(xii) WEIGHTED AVERAGE GROSS MARGIN OF THE HOME EQUITY LOANS                         N/A


SECTION 3.09 (a)(xiii)LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                              560,103.17


SECTION 3.09 (a)(xv)  AVAILABLE FUNDS CAP CARRY FORWARD AMORTIZATION AMOUNT                        0.00
                      AVAILABLE FUNDS CAP CARRY FORWARD AMOUNT                                     0.00


SECTION 3.09 (b)(i)   NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>

<TABLE>
<CAPTION>

                          CATEGORY           COUNT              AGG. PRIN. BAL.                 PERCENTAGE
                         ---------------------------------------------------------------------------------
                         <S>                 <C>                <C>                             <C>
                         30-59 DAYS            81                  7,903,919.47                    2.59%
                         60-89 DAYS            27                  2,974,939.26                    0.98%
                          90 + DAYS             4                    793,668.36                    0.26%
                         ---------------------------------------------------------------------------------
</TABLE>
                 *The number and aggregate principal balances of delinquent
                  mortgage loans includes loans in foreclosure and bankruptcy






(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK



<PAGE>   4
                        IMC HOME EQUITY LOAN OWNER TRUST
                      HOME EQUITY LOAN ASSET-BACKED NOTES
                                 SERIES 1997-8



      DISTRIBUTION:             20-Jan-98                             PAGE # 3




<TABLE>
<CAPTION>
<S>                                                                                                        <C>
SECTION 3.09 (b)(ii)  NUMBER OF LOANS IN FORECLOSURE                                                                0

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                         0.00



                      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 3.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY                                                                 2

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                   130,629.47



SECTION 3.09 (b)(iii) NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                      0

                      AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                         0.00




SECTION 3.09 (b)(iv)  NUMBER OF REO PROPERTIES                                                                      0

                      AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                              0.00




SECTION 3.09 (b)(v)   BOOK VALUE OF REO PROPERTY                                                                 0.00




SECTION 3.09 (b)(vi)  CUMULATIVE LOSS PERCENTAGE                                                           0.00000000%

                      CUMULATIVE REALIZED LOSSES                                                                 0.00

                      ANNUAL LOSS PERCENTAGE (ROLLING 12 MONTH)                                            0.00000000%






SECTION 3.09 (b)(vii) 90+ DELINQUENCY PERCENTAGE (ROLLING SIX MONTH)                                       0.04335274%
                      90+ DELINQUENT LOANS                                                                 793,668.36


</TABLE>







(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK