TAMPA, Fla., Jan. 21 /PRNewswire/ -- IMC Home Equity Loan Trust 1997-1,
was priced January 16, 1997 as follows:
Certificate Ave. Life Certificate
Class Principal Amt. years Coupon Price Yield
A-1 $95,086,000 .90 6.54% 99.9965 6.12%
A-2 31,086,000 2.10 6.62% 99.9858 6.49%
A-3 46,349,000 3.20 6.82% 99.9852 6.76%
A-4 37,517,000 5.19 7.13% 99,9946 7.13%
A-5 10,065,000 7.40 7.36% 99.9730 7.39%
A-6 17,897,000 10.77 7.58% 99.9388 7.64%
A-7 12,000,000 6.87 7.13% 99.9720 7.15%
A-8 75,000,000 3.26 Libor+ 18bps 100.000 Libor+ 18bps
TOTAL $325,000,000
Bear Stearns & Co., Inc. is the lead underwriter for the Fixed Rate
Certificates with Greenwich Capital Markets, Inc. acting as co-manager.
Nomura Securities International, Inc. is the sole underwriter for the Class A-
8 Certificates. The Class A Certificates are collateralized by home equity
loans and will be insured by MBIA Insurance Corporation with an expected
rating of Aaa by Moody's Investors Service and AAA by Standard & Poors Ratings
Services.
IMC Mortgage Company (Nasdaq: IMCC), upon the close of this offering, will
have completed nine securitizations totaling $1.73 billion since November
1994. In July of 1996, the company filed a shelf registration for the future
issuance of $1.5 billion of asset-backed certificates with the Securities and
Exchange Commission. The Company has issued, inclusive of this offering,
certificates totaling $885 million 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 has
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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