<PAGE>   1



                                                                    EXHIBIT 99.3






                                      -12-

<PAGE>   2

--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>

     DISTRIBUTION:                     22-Sep-97                                                PAGE # 1

-----------------------------------------------------------------------------------------------------------------------------------
    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>
575,000,000.00  575,000,000.00   6,217,128.16    3,082,283.19   9,299,411.35   568,782,871.84     1,454,518.51      570,237,390.35

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






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






FACTOR INFORMATION PER $1,000                      NOTE RATES

<TABLE>
<CAPTION>
-----------------------------------------        ------------------------------
 PRINCIPAL      INTEREST     ENDING NOTE          INIT NOTE       CURR NOTE
DISTRIBUTION  DISTRIBUTION     BALANCE               RATE            RATE
-----------------------------------------        ------------------------------

<S>           <C>           <C>                  <C>              <C>
 10.81239680   5.36049250   989.18760320         5.8478%          5.8478%
=========================================        ==============================
</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

<PAGE>   3

--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
================================================================================



<TABLE>
<CAPTION>
         DISTRIBUTION:                       22-Sep-97                                                                     PAGE # 2

<S>                     <C>                                                                              <C>           <C>
SECTION 3.08 (1)        BEGINNING NOTE ACCOUNT BALANCE                                                     9,358,693.34


SECTION 3.08 (2)        MONTHLY DISTRIBUTION AMOUNT                                                        9,299,411.35


SECTION 3.08 (3)        OVERCOLLATERALIZATION INCREASE AMOUNT                                              1,455,452.51


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                                                                  9,299,411.35    16.17


SECTION 3.09 (a)(ii)    PRINCIPAL DISTRIBUTION

                                                 INSTALLMENT PRINCIPAL COLLECTED                             124,342.34     0.22
                                                 PRINCIPAL PREPAYMENTS                                     4,637,333.31     8.06
                                                 OVERCOLLATERALIZATION INCREASE AMOUNT                     1,455,452.51     2.53
                                                 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                                                    570,237,390.35
                        ENDING NUMBER OF LOANS OUTSTANDING                                                        5,978


SECTION 3.09 (a)(vii)   OVERCOLLATERALIZATION AMOUNT                                                       1,454,518.51
                        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                                        10.0937%


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


SECTION 3.09 (a)(xiii)  LOAN BALANCE OF THREE LARGEST LOANS                                                1,584,374.35


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         270         23,979,700.84             4.21%
                            60-89 DAYS          94          7,434,753.07             1.30%
                            90 + DAYS           11          1,206,609.62             0.21%
                        -----------------------------------------------------------------------
                        *The number and aggregate principal balances of delinquent mortgage loans
                         includes loans in foreclosure and bankruptcy
</TABLE>

<PAGE>   4

--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
================================================================================



<TABLE>
<CAPTION>
        DISTRIBUTION:                                22-Sep-97                                             PAGE # 3


<S>                            <C>                                                                         <C>
SECTION 3.09 (b)(ii)           NUMBER OF LOANS IN FORECLOSURE                                                          1

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                              45,588.89


                               NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED

                               IN THE PRIOR MONTH                                                                      1

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE

                               THAT WERE COMMENCED IN THE PRIOR MONTH                                          45,588.89



SECTION 3.09 (b)(iii)          NUMBER OF LOANS IN BANKRUPTCY                                                          17

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                           1,573,863.03



SECTION 3.09 (b)(iii)          NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                               25

                               AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                           2,532,152.10



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)                                 0.31507513%
                               90+ DELINQUENT LOANS                                                         1,206,609.62
</TABLE>


<PAGE>   5


--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
================================================================================


         DISTRIBUTION:     20-Oct-97                                    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>
   575,000,000.00   568,685,477.54   11,481,107.98   2,596,918.03   14,078,026.01   557,204,369.57   3,443,354.08   560,647,723.65
===================================================================================================================================
</TABLE>





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







                          FACTOR INFORMATION PER $1,000


<TABLE>
<CAPTION>
====================================================================
     PRINCIPAL              INTEREST              ENDING NOTE
    DISTRIBUTION          DISTRIBUTION              BALANCE
--------------------------------------------------------------------
    <S>                   <C>                     <C>
    19.96714431             4.51637918            969.05107751
====================================================================
</TABLE>



                                   NOTE RATES


<TABLE>
<CAPTION>
========================================================
         INIT NOTE                   CURR NOTE
            RATE                       RATE
--------------------------------------------------------
          <S>                         <C>
          5.8400%                     5.8713%
========================================================
</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>   6

--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
================================================================================


         DISTRIBUTION:     20-Oct-97                                    PAGE # 2


<TABLE>
<S>                       <C>                                                                    <C>                 <C>
SECTION 3.08 (1)          BEGINNING NOTE ACCOUNT BALANCE                                          14,136,647.03

SECTION 3.08 (2)          MONTHLY DISTRIBUTION AMOUNT                                             14,078,026.01

SECTION 3.08 (3)          OVERCOLLATERALIZATION INCREASE AMOUNT                                    1,891,441.28

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                                                       14,078,026.01          24.48

SECTION 3.09 (a)(ii)      PRINCIPAL DISTRIBUTION
                                                   INSTALLMENT PRINCIPAL COLLECTED                   370,525.73           0.64
                                                   PRINCIPAL PREPAYMENTS                           8,993,773.28          15.64
                                                   OVERCOLLATERALIZATION INCREASE AMOUNT           1,891,441.28           3.29
                                                   OTHER                                             225,367.69           0.39

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                                          560,647,723.65
                          ENDING NUMBER OF LOANS OUTSTANDING                                              5,885

SECTION 3.09 (a)(vii)     OVERCOLLATERALIZATION AMOUNT                                             3,443,354.08
                          OVERCOLLATERALIZATION DEFICIT                                                    0.00

SECTION 3.09 (a)(ix)      SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                                    0.00
                          LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                          225,367.69

SECTION 3.09 (a)(x)       WEIGHTED AVERAGE COUPON OF THE HOME EQUITY LOANS                              10.0747%

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

SECTION 3.09 (a)(xiii)    LOAN BALANCE OF THREE LARGEST LOANS                                      1,583,808.78

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             165               12,620,393.48              2.25%
60-89 DAYS              68                5,696,287.65              1.02%
 90 + DAYS              57                5,079,642.61              0.91%
--------------------------------------------------------------------------------
</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>   7
--------------------------------------------------------------------------------
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
================================================================================


         DISTRIBUTION:     20-Oct-97                                    PAGE # 3



<TABLE>
<S>                            <C>                                                              <C>
SECTION 3.09 (b)(ii)           NUMBER OF LOANS IN FORECLOSURE                                              3

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                 497,566.38



                               NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                               IN THE PRIOR MONTH                                                          2

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                               THAT WERE COMMENCED IN THE PRIOR MONTH                             451,994.12




SECTION 3.09 (b)(iii)          NUMBER OF LOANS IN BANKRUPTCY                                              20

                               AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY               1,825,395.07



SECTION 3.09 (b)(iii)          NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                   25

                               AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"               2,744,113.60




SECTION 3.09 (b)(iv)           NUMBER OF REO PROPERTIES                                                    1

                               AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                      115,629.93




SECTION 3.09 (b)(v)            BOOK VALUE OF REO PROPERTY                                         145,000.00




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)                     0.46951770%
                               90+ DELINQUENT LOANS                                             5,195,272.54
</TABLE>





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK

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

<PAGE>   8

                        IMC HOME EQUITY LOAN OWNER TRUST
                      HOME EQUITY LOAN ASSET-BACKED NOTES
                                 SERIES 1997-4



  DISTRIBUTION:       20-Nov-97                                        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>
575,000,000.00  557,204,369.57  10,765,378.32    2,802,118.86   13,567,497.18  546,438,991.24      5,035,301.30    551,474,292.54

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





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

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







FACTOR INFORMATION PER $1,000              NOTE RATES


<TABLE>
<CAPTION>
==============================================     ============================
      PRINCIPAL     INTEREST      ENDING NOTE       INIT NOTE       CURR NOTE
    DISTRIBUTION  DISTRIBUTION      BALANCE            RATE           RATE
----------------------------------------------     ----------------------------

<S>               <C>            <C>                 <C>             <C>
   18.72239708    4.87325019     950.32868042        5.8400%         5.8400%
==============================================     ============================
</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>   9
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4


      DISTRIBUTION:       20-Nov-97                                    PAGE # 2





<TABLE>
<S>                      <C>                                                                   <C>                 <C>
SECTION 3.08 (1)         BEGINNING NOTE ACCOUNT BALANCE                                         13,624,940.54


SECTION 3.08 (2)         MONTHLY DISTRIBUTION AMOUNT                                            13,567,497.18


SECTION 3.08 (3)         OVERCOLLATERALIZATION INCREASE AMOUNT                                   1,591,947.21


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                                                      13,567,497.18          23.60


SECTION 3.09 (a)(ii)     PRINCIPAL DISTRIBUTION
                                                  INSTALLMENT PRINCIPAL COLLECTED                  311,021.01           0.54
                                                  PRINCIPAL PREPAYMENTS                          8,862,410.10          15.41
                                                  OVERCOLLATERALIZATION INCREASE AMOUNT          1,591,947.21           2.77
                                                  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                                         551,474,292.54
                         ENDING NUMBER OF LOANS OUTSTANDING                                             5,789


SECTION 3.09 (a)(vii)    OVERCOLLATERALIZATION AMOUNT                                            5,035,301.30
                         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                             10.0702%


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


SECTION 3.09 (a)(xiii)    LOAN BALANCE OF THREE LARGEST LOANS                                    1,583,150.84


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:*

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

                            CATEGORY       COUNT        AGG. PRIN. BAL.                PERCENTAGE
                         ------------------------------------------------------------------------------------
                           30-59 DAYS       280               21,777,753.81                              3.95%
                           60-89 DAYS        86                6,547,106.77                              1.19%
                           90 + DAYS        101                8,778,819.77                              1.59%
                         ------------------------------------------------------------------------------------

                         *The number and aggregate principal balances of delinquent mortgage loans includes
                          loans in foreclosure and bankruptcy
</TABLE>






(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
<PAGE>   10

                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4


     DISTRIBUTION:    20-Nov-97                                        PAGE # 3





<TABLE>
<S>                     <C>                                                            <C>
SECTION 3.09 (b)(ii)    NUMBER OF LOANS IN FORECLOSURE                                           21

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE             2,193,822.60



                        NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                        IN THE PRIOR MONTH                                                       18

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                        THAT WERE COMMENCED IN THE PRIOR MONTH                         1,696,272.85




SECTION 3.09 (b)(iii)   NUMBER OF LOANS IN BANKRUPTCY                                            27

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY             2,359,913.80



SECTION 3.09 (b)(iii)   NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                 22

                        AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"             2,477,030.32




SECTION 3.09 (b)(iv)    NUMBER OF REO PROPERTIES                                                  1

                        AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                    115,629.93




SECTION 3.09 (b)(v)     BOOK VALUE OF REO PROPERTY                                       145,000.00




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)                   0.73832593%
                        90+ DELINQUENT LOANS                                           8,894,449.70
</TABLE>











(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK



<PAGE>   11

                                                                   EXHIBIT 19

                        IMC HOME EQUITY LOAN OWNER TRUST
                      HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4




DISTRIBUTION:     22-Dec-97                                          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
-----------------------------------------------------------------------------------------------------------------------------------
<C>              <C>              <C>             <C>              <C>             <C>            <C>                <C>
575,000,000.00   546,438,991.24   11,076,209.43   2,866,983.24     13,943,192.67   535,362,781.81   6,474,498.84     541,837,280.65

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

 19.26297292            4.98605781          931.06570750               5.8400%              5.9025%
==========================================================            ===================================
</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

<PAGE>   12

                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4



     DISTRIBUTION:            22-Dec-97                           PAGE #     2




<TABLE>
<CAPTION>

<S>                        <C>                                                              <C>                   <C>
SECTION 3.08 (1)             BEGINNING NOTE ACCOUNT BALANCE                                 13,999,529.91


SECTION 3.08 (2)             MONTHLY DISTRIBUTION AMOUNT                                    13,943,192.67


SECTION 3.08 (3)             OVERCOLLATERALIZATION INCREASE AMOUNT                           1,439,197.54


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 $100
                                                                                                                  --------
SECTION 3.09 (a)(i)          NOTE DISTRIBUTION                                              13,943,192.67           24.25


SECTION 3.09 (a)(ii)         PRINCIPAL DISTRIBUTION

                                PRINCIPAL C0LLECTED                                            231,674.26            0.40
                                PRINCIPAL PREPAYMENTS                                        9,405,337.63           16.36
                                OVERCOLLATERALIZATION INCREASE AMOUNT                        1,439,197.54            2.50
                                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                                 541,837,280.65
                             ENDING NUMBER OF LOANS OUTSTANDING                                     5,690


SECTION 3.09 (a)(vii)        OVERCOLLATERALIZATION AMOUNT                                    6,474,498.84
                             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                      9.7600%


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


SECTION 3.09 (a)(xiii)       LOAN BALANCE OF THREE LARGEST LOANS                             1,582,244.87


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:*

<CAPTION>

                             ----------------------------------------------------------------------------
                             CATEGORY               COUNT            AGG. PRIN. BAL.           PERCENTAGE
                             ----------------------------------------------------------------------------
                             <S>                    <C>              <C>                       <C>
                             30-59 DAYS              244              18,822,541.00                 3.47%
                             60-89 DAYS               93               7,075,165.00                 1.31%
                             90 + DAYS               138              11,422,185.00                 2.11%
                             ----------------------------------------------------------------------------


</TABLE>

*The number and aggregate principal balances of delinquent mortgage loans
 includes loans in foreclosure and bankruptcy
<PAGE>   13


                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4



   DISTRIBUTION:                           22-Dec-97                 PAGE #   3





<TABLE>
<S>                             <C>                                                                    <C>
SECTION 3.09 (b)(ii)            NUMBER OF LOANS IN FORECLOSURE                                                    43

                                AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                      3,867,666.93



                                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 3.09 (b)(iii)           NUMBER OF LOANS IN BANKRUPTCY                                                     30

                                AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                      2,221,495.99



SECTION 3.09 (b)(iii)           NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                         N/A

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




SECTION 3.09 (b)(iv)            NUMBER OF REO PROPERTIES                                                           1

                                AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                             115,629.93




SECTION 3.09 (b)(v)             BOOK VALUE OF REO PROPERTY                                                       N/A




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)                            1.07194190%
                                90+ DELINQUENT LOANS                                                   11,537,814.93

</TABLE>
<PAGE>   14
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4

<TABLE>
<CAPTION>
===================================================================================================================================

              DISTRIBUTION:                   20-Jan-98                PAGE # 1





 ----------------------------------------------------------------------------------------------------------------------------------
     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>
 575,000,000.00   535,362,781.81   11,451,662.14   2,666,831.62   14,118,493.76   523,911,119.67    8,120,127.91     532,031,247.58
 ----------------------------------------------------------------------------------------------------------------------------------
</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>
           19.91593416           4.63796803           911.14977334                         5.8400%                  6.18375%
 -----------------------------------------------------------------                        ------------------------------------------








===================================================================================================================================
</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>   15
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
===============================================================================



        DISTRIBUTION:                20-Jan-98                      PAGE # 2



<TABLE>
<S>                    <C>                                                        <C>
SECTION 3.08 (1)       BEGINNING NOTE ACCOUNT BALANCE                             14,173,692.36


SECTION 3.08 (2)       MONTHLY DISTRIBUTION AMOUNT                                14,118,493.76


SECTION 3.08 (3)       OVERCOLLATERALIZATION INCREASE AMOUNT                       1,645,629.07


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                                          14,118,493.76         24.55


SECTION 3.09 (a)(ii)   PRINCIPAL DISTRIBUTION
                                     INSTALLMENT PRINCIPAL COLLECTED                 260,848.10          0.45
                                     PRINCIPAL PREPAYMENTS                         9,545,184.97         16.60
                                     OVERCOLLATERALIZATION INCREASE AMOUNT         1,645,629.07          2.86
                                     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                             532,031,247.58
                       ENDING NUMBER OF LOANS OUTSTANDING                                 5,590


SECTION 3.09 (a)(vii)  OVERCOLLATERALIZATION AMOUNT                                8,120,127.91
                       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                 10.2900%


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


SECTION 3.09 (a)(xiii) LOAN BALANCE OF THREE LARGEST LOANS                         1,581,695.65


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        99           8,777,759.89        1.65%
                          60-89 DAYS        84           5,623,719.49        1.06%
                           90 + DAYS       185          15,110,840.34        2.84%
                       -------------------------------------------------------------

</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>   16
                        IMC HOME EQUITY LOAN OWNER TRUST
                       HOME EQUITY LOAN ASSET-BACKED NOTES
                                  SERIES 1997-4
--------------------------------------------------------------------------------

               DISTRIBUTION:                  20-Jan-98                  PAGE #3
<TABLE>
<CAPTION>



<S>                          <C>                                                               <C>
SECTION 3.09 (b)(ii)         NUMBER OF LOANS IN FORECLOSURE                                               39

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE                3,764,063.78



                             NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                             IN THE PRIOR MONTH                                                            2

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                             THAT WERE COMMENCED IN THE PRIOR MONTH                               385,981.77




SECTION 3.09 (b)(iii)        NUMBER OF LOANS IN BANKRUPTCY                                                42

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                 3,222,027.49



SECTION 3.09 (b)(iii)        NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                      3

                             AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                   378,885.85




SECTION 3.09 (b)(iv)         NUMBER OF REO PROPERTIES                                                      1

                             AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                        115,629.93




SECTION 3.09 (b)(v)          BOOK VALUE OF REO PROPERTY                                            71,550.00




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)                      1.54893363%
                             90+ DELINQUENT LOANS                                              15,226,470.27

</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK