<PAGE>


<PAGE>
________________________________________________________________________________
 
                         SECURITIES EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                            ------------------------
                                 AMENDMENT NO.1
                                       TO
                                    FORM 10-K
 
(MARK ONE)
 
   [x]           ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
 
                  FOR THE FISCAL YEAR ENDED DECEMBER 31, 1996
 
                                       OR
 
   [ ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
 
    FOR THE TRANSITION PERIOD FROM __________________ TO __________________
 
                          COMMISSION FILE NO. 333-3954
                            ------------------------
 
                              IMC MORTGAGE COMPANY
               (EXACT NAME OF ISSUER AS SPECIFIED IN ITS CHARTER)
 
                            ------------------------
 
<TABLE>
<S>                                                        <C>
                         FLORIDA                                                  59-3350574
             (STATE OR OTHER JURISDICTION OF                                   (I.R.S. EMPLOYER
             INCORPORATION OR ORGANIZATION)                                 IDENTIFICATION NUMBER)
 
                3450 BUSCHWOOD PARK DRIVE
                     TAMPA, FLORIDA                                                  33618
        (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                                  (ZIP CODE)
</TABLE>
 
       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (813) 932-2211
 
                            ------------------------
 
          SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
 
                                      None
 
          SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
 
                          Common Stock, $.01 par value
                                (TITLE OF CLASS)
 
     Indicate  by check  mark whether the  registrant (1) has  filed all reports
required to be  filed by  Section 13  or 15(d) of  the Exchange  Act during  the
preceding 12 months (or for such shorter period that the registrant was required
to  file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes [x]   No [ ]
 
     Indicate by check mark if disclosure  of delinquent filer pursuant to  Item
405 of Regulation 2-K is not contained herein, and will not be contained, to the
best   of  the  registrant's  knowledge,  in  definitive  proxy  or  information
statements incorporated  by reference  in Part  III  of this  Form 10-K  or  any
amendment to this Form 10-K. [x]
 
     The  aggregate market  value of Common  Stock held by  nonaffiliates of the
registrant, based on the closing price of Common Stock as reported by the Nasdaq
National Market  on  March 21,  1997  was  $342,431,860. For  purposes  of  this
computation,   all  officers,  directors,  and  10%  beneficial  owners  of  the
registrant are deemed to be affiliates. Such determination should not be  deemed
an  admission that  such officers,  directors or  10% beneficial  owners are, in
fact, affiliates of the registrant. As  of March 21, 1997, 21,949,142 shares  of
Common Stock were outstanding.
 
 <PAGE>


<PAGE>


Performance Graph

The following graph depicts the cumulative total return on the Company's common
stock compared to the cumulative total return for the Nasdaq Combined Composite
Index ("Nasdaq Composite") and a peer group selected by the Company on an
industry and line-of-business basis, the Nasdaq Combined Financial Index
("Nasdaq Financial"). The graph assumes an investment of $100 on June 25, 1996,
when the Company's common stock was first traded in a public market.
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------------------------------------
                                     June 25,                 June 28,              September 30,            December 31,
                                       1996                     1996                    1996                     1996
--------------------------------------------------------------------------------------------------------------------------------
<S>                                   <C>                      <C>                     <C>                      <C>   
IMC                                   100.00                   109.76                  156.10                   163.41
--------------------------------------------------------------------------------------------------------------------------------
Nasdaq Composite                      100.00                   101.06                  104.63                   110.1
--------------------------------------------------------------------------------------------------------------------------------
Nasdaq Financial                      100.00                   100.30                  110.53                   123.17
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>

[GRAPHIC OMITTED]



<PAGE>
<PAGE>
                                   SIGNATURES
 
     Pursuant  to the requirements  of the Securities Exchange  Act of 1934, the
Registrant has duly caused this Annual Report on Amendment No.1 to Form 10-K to
be signed on its behalf by the undersigned, thereunto duly authorized.
 
                                          IMC MORTGAGE COMPANY
 
                                          By       /S/ THOMAS G. MIDDLETON
                                              ..................................
 
                                                    THOMAS G. MIDDLETON,
                                                         PRESIDENT
 
     Pursuant  to the requirements of the  Securities Exchange Act of 1934, this
Annual Report on Amendment No.1 to Form 10-K has been signed by the following
persons on behalf of the registrant and in the capacities indicated on
April 30 , 1997.
 
<TABLE>
<CAPTION>
                SIGNATURE                                      TITLE
------------------------------------------  --------------------------------------------
 
<S>                                         <C>
           /S/ GEORGE NICHOLAS              Chairman of the Board and Chief Executive
 .........................................    Officer (Principal Executive Officer)
            (GEORGE NICHOLAS)
 
           /S/ STUART D. MARVIN             Chief Financial Officer (Principal
 .........................................    Accounting Officer and Principal Financial
            (STUART D. MARVIN)                Officer)
 
           /S/ JOSEPH P. GORYEB             Director
 .........................................
            (JOSEPH P. GORYEB)
 
          /S/ MITCHELL W. LEGLER            Director
 .........................................
           (MITCHELL W. LEGLER)
 
         /S/ THOMAS G. MIDDLETON            Director
 .........................................
          (THOMAS G. MIDDLETON)
 
            /S/ ALLEN D. WYKLE              Director
 .........................................
             (ALLEN D. WYKLE)
</TABLE>