EXHIBIT 23.1
 
                        CONSENT OF INDEPENDENT AUDITORS
 
The Board of Directors
Imperial Credit Industries, Inc.:
 
  We consent to the use of our report included herein and to the references to
our firm under the headings "Summary Historical and Pro Forma Consolidated
Financial and Other Data," "Selected Financial Data," and "Experts" in the
Registration Statement. Our report contains an explanatory paragraph regarding
the adoption of Statement of Financial Accounting Standards No. 122,
"Accounting for Mortgage Servicing Rights."
 
                                       KPMG Peat Marwick LLP
Los Angeles, California
February 17, 1997