TAMPA, Fla., Oct. 21 /PRNewswire/ -- The following was released by
IMC Mortgage Company (Nasdaq-NNM: IMCC):
IMC Home Equity Loan Trust 1996-4, was priced October 18, 1996 as follows:
Certificate Ave. Life Certificate
class Principal Amt years Coupon Price Yield
A-1 $117,802,000 .90 6.59% 99.99635 6.164%
A-2 40,131,000 2.10 6.58 99.98975 6.446
A-3 58,742,000 3.20 6.81 99.99868 6.745
A-4 51,439,000 5.20 7.11 99.98103 7.108
A-5 16,445,000 7.40 7.41 99.98827 7.438
A-6 25,711,000 10.74 7.61 99.97729 7.663
TOTAL $310,000,000
Bear, Stearns & Co. Inc is the lead underwriter for the issue with
Greenwich Capital Markets, Inc. and Nomura Securities International, Inc.
acting as co-managers. The Class A Certificates are collateralized by home
equity loans and will be insured by Financial Securities Assurance Inc. with
an expected rating of Aaa by Moody's Investors Service and AAA by Standard &
Poors Ratings Services.
IMC Mortgage Company, upon the close of this offering, will have completed
eight securitizations totaling $1.41 billion since November 1994. In July of
this year, the company filed a shelf registration for the future issuance of
$1.5 billion of asset-backed certificates with the Securities and Exchange
Commission. Inclusive of this offering certificates totaling $560 million
have been issued from this shelf registration.
IMC Mortgage Company is a Tampa-based specialty consumer finance company
engaged in purchasing, originating, servicing and selling home equity loans
secured primarily by first liens on one-to-four family residential properties.
The company has wholesale and retail operations in the United States and
recently began operations in the United Kingdom through a joint venture.
SOURCE IMC Mortgage Company
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CONTACT:
Jean S. Schwindt CFA, Vice President, IMC
Mortgage Company, 813-915-2515
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