EXHIBIT 23.1
 
                         INDEPENDENT AUDITORS' CONSENT
 
The Board of Directors
Imperial Credit Mortgage Holdings, Inc.:
   
  We consent to the use of our report dated March 3, 1997, except as to Notes
11 and 15 to the consolidated financial statements which are as of March 31,
1997, incorporated herein by reference and to the reference to our firm under
the heading "Experts" in the Prospectus. Our report dated March 3, 1997,
except as to Notes 11 and 15 to the consolidated financial statements which
are as of March 31, 1997, contains an explanatory paragraph stating the
Company adopted the provisions of Statement of Financial Accounting Standards
No. 122, "Accounting for Mortgage Servicing Rights" for the year ended
December 31, 1995.     
                                             
                                          /s/ KPMG Peat Marwick LLP     
 
Orange County, California
   
September 8, 1997