<PAGE>   1
                                                                    EXHIBIT 99.3

<PAGE>   2
--------------------------------------------------------------------------------
                         IMC HOME EQUITY LOAN TRUST
                     MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-4
--------------------------------------------------------------------------------
 
         DISTRIBUTION:    25-Nov-96                                 PAGE #  1 

<TABLE>
<CAPTION>

         ORIGINAL         BEGINNING                                                                       ENDING         ENDING
        CERTIFICATE      CERTIFICATE     PRINCIPAL      INTEREST           TOTAL       CERTIFICATE      SUBORDINATE     PRINCIPAL
CLASS     BALANCE          BALANCE      DISTRIBUTION   DISTRIBUTION     DISTRIBUTION     BALANCE           AMOUNT        BALANCE 
---------------------------------------------------------------------------------------------------------------------------------
<S>    <C>              <C>              <C>            <C>          <C>              <C>               <C>          <C>
A-1    117,802,000.00   117,802,000.00   3,829,474.18   646,929.32   4,476,403.50     113,972,525.82                            
A-2     40,131,000.00    40,131,000.00           0.00   220,051.65     220,051.65      40,131,000.00    
A-3     58,472,000.00    58,472,000.00           0.00   331,828.60     331,828.60      58,472,000.00           
A-4     51,439,000.00    51,439,000.00           0.00   304,776.08     304,776.08      51,439,000.00
A-5     16,445,000.00    16,445,000.00           0.00   101,547.88     101,547.88      16,445,000.00    852,120.48   307,022,646.30
A-6     25,711,000.00    25,711,000.00           0.00   163,050.59     163,050.59      25,711,000.00 
 S          N/A              N/A           N/A          293,858.97     293,858.97         N/A                 
 R          N/A              N/A           N/A                0.00           0.00         N/A             
------------------------------------------------------------------------------------------------------------------------------------
TOTALS 310,000,000.00   310,000,000.00   3,829,474.18 2,062,043.09   5,891,517.27     306,170,525.82    852,120.48   307,022,646.30
----------------------------------------------------------------------------------------------------------------------------------- 
</TABLE>



  FACTOR INFORMATION PER $1,000

<TABLE>
<CAPTION>
                                                                                       PASS THRU RATES

               PRINCIPAL            INTEREST         END. CERT.                           INIT PASS            CURR PASS
CLASS        DISTRIBUTION         DISTRIBUTION         BALANCE            CLASS           THRU RATE            THRU RATE    
-------------------------------------------------------------------------------------------------------------------------
<S>         <C>                    <C>             <C>                     <C>           <C>                  <C>
 A-1         32.50771783           5.49166669       967.49228217           A-1           6.59000000%          6.59000000% 
 A-2          0.00000000           5.48333333      1000.00000000           A-2           6.58000000%          6.58000000%       
 A-3          0.00000000           5.67500000      1000.00000000           A-3           6.81000000%          6.81000000%      
 A-4          0.00000000           5.92500010      1000.00000000           A-4           7.11000000%          7.11000000%
 A-5          0.00000000           6.17500030      1000.00000000           A-5           7.41000000%          7.41000000%           
 A-6          0.00000000           6.34166660      1000.00000000           A-6           7.61000000%          7.61000000%  
  S              N/A                  N/A             N/A                   S            1.13751860%          1.13751860% 
-------------------------------------------------------------------------------------------------------------------------
TOTALS        12.3531425          6.651751911        987.6468575
-------------------------------------------------------------------------------------------------------------------------         

</TABLE>

         IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:



                                EILEEN ROONEY
                           THE CHASE MANHATTAN BANK
                       450 WEST 33RD STREET, 15TH FLOOR
                           NEW YORK, NEW YORK 10001
                                (212) 946-3185



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------

<PAGE>   3
--------------------------------------------------------------------------------
                         IMC HOME EQUITY LOAN TRUST
                     MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-4
--------------------------------------------------------------------------------
 
         DISTRIBUTION:    25-Nov-96                                 PAGE #  2

<TABLE>

<S>                    <C>                                                   <C>                          <C>
SECTION 7.08 (1)       BEGINNING CERTIFICATE ACCOUNT                           5,932,825.79
         
SECTION 7.08 (2)       CLASS A DISTRIBUTION AMOUNT                             5,597,658.30         

SECTION 7.08 (3)       CLASS S DISTRIBUTION AMOUNT                                     0.00 

SECTION 7.08 (4)       SUBORDINATION INCREASE AMOUNT                             852,120.48

SECTION 7.08 (5)       INSURED PAYMENT                                                 0.00

SECTION 7.08 (7)       BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE       310,000,000.00        
                       CLASS A PRINCIPAL DISTRIBUTION                          3,829,474.18  
                       ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE          306,170,525.82  

SECTION 7.08 (8)       REALIZED LOSSES                                                 0.00
      
SECTION 7.08 (9)       SUBORDINATION REDUCTION AMOUNT                                  0.00 

SECTION 7.08 (10)  (A) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE 
                       SUBSEQUENT MORTGAGE LOANS                                  88,538.00
                   (B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL 
                       DISTRIBUTION AMOUNT                                         1,703.44   
                   (C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE     
                       CAPITALIZED INTEREST ACCOUNT                                    0.00
                   (D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST                         
                       ACCOUNT TO THE CERTIFICATE ACCOUNT
                       THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST 
                       ACCOUNT TO THE DEPOSITOR                                        0.00 

SECTION 7.08 (11)      THE AMOUNT BY WHICH THE SERVING FEE IS REDUCED
                       BECAUSE OF THE UNDERWATER LOANS                                 0.00        

                                                                                                          PER $1000
                                                                                                          ---------
SECTION 7.09 (a)(i)    CLASS A-1 DISTRIBUTION                                  4,476,403.50                  38.00  
                       CLASS A-2 DISTRIBUTION                                    220,051.65                   5.48    
                       CLASS A-3 DISTRIBUTION                                    331,828.60                   5.68
                       CLASS A-4 DISTRIBUTION                                    304,776.08                   5.93
                       CLASS A-5 DISTRIBUTION                                    101,547.88                   6.18       
                       CLASS A-6 DISTRIBUTION                                    163,050.59                   6.34
                       CLASS S DISTRIBUTION                                      293,858.97
                       CLASS R DISTRIBUTION                                            0.00

SECTION 7.09 (a)(ii)   CLASS A PRINCIPAL DISTRIBUTION 
                                            INSTALLMENT PRINCIPAL COLLECTED      147,934.59                   0.94  
                                            PRINCIPAL PREPAYMENTS              2,827,715.67                  17.90    
                                            SUBORDINATION INCREASE AMOUNT        852,120.48                   5.40
                                            PRIN PREPAY FROM PRE-FUND ACCT         1,703.44                   0.01
                                            OTHER                                      0.00                   0.00

SECTION 7.09 (a)(iv)   CLASS A-1 CARRYFORWARD                                          0.00       
                       CLASS A-2 CARRYFORWARD                                          0.00
                       CLASS A-3  CARRYFORWARD                                         0.00
                       CLASS A-4  CARRYFORWARD                                         0.00    
                       CLASS A-5  CARRYFORWARD                                         0.00
                       CLASS A-6  CARRYFORWARD                                         0.00
                       CLASS S CARRYFORWARD                                            0.00

SECTION 7.09 (a)(v)    INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION                0.00 

SECTION 7.09 (a)(vi)   ENDING AGGREGATE LOAN  BALANCE                        307,022,646.30
                       ENDING NUMBER OF LOANS OUTSTANDING                             5,149

SECTION 7.09 (a)(vii)  SUBORDINATED AMOUNT                                       852,120.48
                       SUBORDINATED DEFICIT                                            0.00         

SECTION 7.09 (a)(ix)   SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                   0.00
                       LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION               0.00
</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------

<PAGE>   4
--------------------------------------------------------------------------------
                         IMC HOME EQUITY LOAN TRUST
                     MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-4
--------------------------------------------------------------------------------
 
         DISTRIBUTION:    25-Nov-96                                 PAGE #  3

<TABLE>

<S>                    <C>                                                  <C>                      
SECTION 7.09 (a)(x)    WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS           11.9406% 

SECTION 7.09 (a)(xii)  LARGEST MORTGAGE LOAN BALANCE OUTSTANDIING           519,162.53

SECTION 7.09 (a)(xiii) REMAINING PRE-FUNDED AMOUNT                                0.00  

SECTION 7.09 (b)(i)    NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT
                       MORTGAGE LOANS:* 

</TABLE>

<TABLE>
<CAPTION>
                            CATEGORY             COUNT            AGG. PRIN. BAL.          PERCENTAGE
                            --------             -----            ---------------          ----------
                            <S>                   <C>              <C>                        <C>
                            30-59 DAYS            178              10,686,528.03              3.48% 
                            60-89 DAYS             49               3,347,881.69              1.09%          
                            90 + DAYS               1                  16,500.00              0.01% 
</TABLE>

* The number and aggregate principal balances of delinquent mortgage loans
  includes loans in foreclosure and bankruptcy 

<TABLE>
<S>                    <C>                                                                        <C>
SECTION 7.09 (b)(ii)   NUMBER OF LOANS IN FORECLOSURE                                                          1
                                                                    
                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                              85,370.66


                       NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED 
                       IN THE PRIOR MONTH                                                                      1

                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                       THAT WERE COMMENCED IN THE PRIOR MONTH                                          85,370.66

SECTION 7.09 (b)(iii)  NUMBER OF LOANS IN BANKRUPTCY                                                          11

                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                             698,411.76           

                       NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                            2,273       

                       AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                         170,491,558.37               

SECTION 7.09 (b)(iv)   NUMBER OF REO PROPERTIES                                                                0
                       AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                        0.00

SECTION 7.09 (b)(v)    BOOK VALUE OF REO PROPERTY                                                           0.00

SECTION 7.09 (b)(vi)   CUMULATIVE LOSS PERCENTAGE                                                     0.00000000% 
                       CUMULATIVE REALIZED LOSSES                                                           0.00
                       ANNUAL LOSS PERCENTAGE                                                         0.00000000%              

SECTION 7.09 (b)(vii)  60 + DELINQUENCY PERCENTAGE                                                    1.09580897%     

</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------

<PAGE>   5
--------------------------------------------------------------------------------
                         IMC HOME EQUITY LOAN TRUST
                     MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-4
--------------------------------------------------------------------------------
 
         DISTRIBUTION:    25-Nov-96                                



                  RANGE           SMM             CPR
                  ------------------------------------- 
                   OCT           0.91%           10.42%
                  -------------------------------------





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
--------------------------------------------------------------------------------

<PAGE>   6
                             IMC EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-4


         DISTRIBUTION:    26-DEC-96                                     PAGE # 1


<TABLE>
<CAPTION>
           ORIGINAL       BEGINNING                                                       ENDING                         ENDING
          CERTIFICATE    CERTIFICATE      PRINCIPAL       INTEREST        TOTAL        CERTIFICATE    SUBORDINATE       PRINCIPAL
 CLASS      BALANCE        BALANCE       DISTRIBUTION   DISTRIBUTION   DISTRIBUTION      BALANCE         AMOUNT          BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>              <C>            <C>            <C>           <C>              <C>             <C>
  A-1   117,802,000.00  113,972,525.82   5,287,718.14     625,899.12   5,913,617.26  108,684,807.69
  A-2    40,131,000.00   40,131,000.00           0.00     220,051.65     220,051.65   40,131,000.00
  A-3    58,472,000.00   58,472,000.00           0.00     331,828.60     331,828.60   58,472,000.00
  A-4    51,439,000.00   51,439,000.00           0.00     304,776.08     304,776.08   51,439,000.00
  A-5    16,445,000.00   16,445,000.00           0.00     101,547.88     101,547.88   16,445,000.00   1,700,017.36    302,582,825.05
  A-6    25,711,000.00   25,711,000.00           0.00     163,050.59     163,050.59   25,711,000.00
   S          N/A            N/A           N/A            289,033.17     289,033.17       N/A
   R          N/A            N/A           N/A              2,329.28       2,329.28       N/A
------------------------------------------------------------------------------------------------------------------------------------
TOTALS  310,000,000.00  306,170,525.82   5,287,718.14   2,038,516.37   7,326,234.51  300,882,807.69   1,700,017.36    302,582,825.05
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>
                     FACTOR INFORMATION PER $1,000

               PRINCIPAL            INTEREST              END. CERT.                        
  CLASS       DISTRIBUTION        DISTRIBUTION             BALANCE                          
---------------------------------------------------------------------
 <S>            <C>                  <C>                <C>                             
   A-1          44.88648866          5.31314511          922.60579351                     
   A-2           0.00000000          5.48333333         1000.00000000                     
   A-3           0.00000000          5.67500000         1000.00000000                     
   A-4           0.00000000          5.92500010         1000.00000000                     
   A-5           0.00000000          6.17500030         1000.00000000                     
   A-6           0.00000000          6.34166660         1000.00000000                     
    S              N/A                  N/A                  N/A                            
---------------------------------------------------------------------
 TOTALS      17.05715528102     6.6581078105219     970.5897022169436                     
---------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                       PASS THRU RATES

                  INIT PASS       CURR PASS
CLASS             THRU RATE       THRU RATE     
 -------------------------------------------
 <C>            <C>              <C>          
 A-1            6.59000000%      6.59000000%  
 A-2            6.58000000%      6.58000000%  
 A-3            6.81000000%      6.81000000%  
 A-4            7.11000000%      7.11000000%  
 A-5            7.41000000%      7.41000000%  
 A-6            7.61000000%      7.61000000%  
  S             1.13751860%      1.13283211%  
 -------------------------------------------
</TABLE>





IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:





                                EILEEN ROONEY
                       THE CHASE MANHATTAN BANK - ASPG
                       450 WEST 33RD STREET, 15TH FLOOR
                           NEW YORK, NEW YORK 10001
                                (212) 946-3185
<PAGE>   7
                             IMC EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-4


         DISTRIBUTION:    26-DEC-96                                     PAGE # 2

<TABLE>
<S>                     <C>                                                                    <C>                 <C>
SECTION 7.08 (1)        BEGINNING CERTIFICATE ACCOUNT                                            7,367,027.35


SECTION 7.08 (2)        CLASS A DISTRIBUTION AMOUNT                                              7,034,872.06

SECTION 7.08 (3)        CLASS S DISTRIBUTION AMOUNT                                                  2,329.28

SECTION 7.08 (4)        SUBORDINATION INCREASE AMOUNT                                              847,896.89


SECTION 7.08 (5)        INSURED PAYMENT                                                                  0.00


SECTION 7.08 (7)        BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE                        306,170,525.82
                        CLASS A PRINCIPAL DISTRIBUTION                                           5,287,718.14
                        ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                           300,882,807.69


SECTION 7.08 (8)        REALIZED LOSSES                                                                  0.00
                        CUMULATIVE REALIZED LOSSES                                                       0.00


SECTION 7.08 (9)        SUBORDINATION REDUCTION AMOUNT                                                   0.00


SECTION 7.08 (10)       PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
                        SUBSEQUENT MORTGAGE LOANS                                                        0.00
                    (B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL
                        DISTRIBUTION AMOUNT                                                              0.00
                    (C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE
                        CAPITALIZED INTEREST ACCOUNT                                                     0.00
                    (D) THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
                        ACCOUNT TO THE CERTIFICATE ACCOUNT                                               0.00
                        THE AMOUNTS TRANSFERRED FROM THE CAPITALIZED INTEREST
                        ACCOUNT TO THE DEPOSITOR                                                         0.00


SECTION 7.08 (11)       THE AMOUNT BY WHICH THE SERVING FEE IS REDUCED
                        BECAUSE OF THE UNDERWATER LOANS                                                  0.00
                                                                                                                   PER $1000
                                                                                                                   ---------
                                                                                                                       50.20
SECTION 7.09 (a)(i)     CLASS A-1 DISTRIBUTION                                                   5,913,617.26           5.48
                        CLASS A-2 DISTRIBUTION                                                     220,051.65           5.68
                        CLASS A-3 DISTRIBUTION                                                     331,828.60           5.93
                        CLASS A-4 DISTRIBUTION                                                     304,776.08           6.18
                        CLASS A-5 DISTRIBUTION                                                     101,547.88           6.34
                        CLASS A-6 DISTRIBUTION                                                     163,050.59
                        CLASS S DISTRIBUTION                                                       289,033.17
                        CLASS R DISTRIBUTION                                                         2,329.28

SECTION 7.09 (a)(ii)    CLASS A PRINCIPAL DISTRIBUTION                                                                  1.23
                                          INSTALLMENT PRINCIPAL COLLECTED                          194,277.82          26.88
                                          PRINCIPAL PREPAYMENTS                                  4,245,543.43           5.37
                                          SUBORDINATION INCREASE AMOUNT                            847,896.89           0.00
                                          PRIN PREPAY FROM PRE-FUND ACCT                                 0.00           0.00
                                          OTHER                                                          0.00


SECTION 7.09 (a)(iv)    CLASS A-1 CARRYFORWARD                                                           0.00
                        CLASS A-2 CARRYFORWARD                                                           0.00
                        CLASS A-3 CARRYFORWARD                                                           0.00
                        CLASS A-4 CARRYFORWARD                                                           0.00
                        CLASS A-5 CARRYFORWARD                                                           0.00
                        CLASS A-6 CARRYFORWARD                                                           0.00
                        CLASS S CARRYFORWARD                                                             0.00


SECTION 7.09 (a)(v)     INSURED PAYMENT INCLUDED IN CLASS A DISTRIBUTION                                 0.00

SECTION 7.09 (a)(vi)    ENDING AGGREGATE LOAN BALANCE                                          302,582,825.05
                        ENDING NUMBER OF LOANS OUTSTANDING                                              5,090

SECTION 7.09 (a)(vii)   SUBORDINATED AMOUNT                                                      1,700,017.36
                        SUBORDINATED DEFICIT                                                             0.00

SECTION 7.09 (a)(ix)    SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                                    0.00
                        LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                                0.00
</TABLE>
<PAGE>   8
                             IMC EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-4


         DISTRIBUTION:    26-DEC-96                                     PAGE # 3


<TABLE>
<S>                     <C>                                                                       <C>
SECTION 7.09 (a)(x)     WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                                11.9319%

SECTION 7.09 (a)(xii)   LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                                 516,948.56

SECTION 7.09 (a)(xiii)  REMAINING PRE-FUNDED AMOUNT                                                     0.00

SECTION 7.09 (b)(i)     NUMBER AND AGGREGATE PRINCIPAL BALANCES OF DELINQUENT MORTGAGE LOANS:*
</TABLE>


    -----------------------------------------------------------------------
    CATEGORY                COUNT           AGG. PRIN. BAL.     PERCENTAGE
    -----------------------------------------------------------------------
    30-59 DAYS                163             8,442,364.33          2.79%
    60-89 DAYS                 70             4,665,035.99          1.54%
    90 + DAYS                  31             1,992,980.95          0.66%
    -----------------------------------------------------------------------

*The number and aggregate principal balances of delinquent mortgage loans
 includes loans in foreclosure an


<TABLE>
<S>                   <C>                                                                                        <C>
SECTION 7.09 (b)(ii)  NUMBER OF LOANS IN FORECLOSURE                                                                          1

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                             104,000.00


                      NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                      IN THE PRIOR MONTH                                                                                      1

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                      THAT WERE COMMENCED IN THE PRIOR MONTH                                                         104,000.00


SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY                                                                          18

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                           1,126,482.82


                      NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                             2242

                      AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                         168,176,391.84


SECTION 7.09 (b)(iv)  NUMBER OF REO PROPERTIES                                                                                0

                      AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                                        0.00


SECTION 7.09 (b)(v)   BOOK VALUE OF REO PROPERTY                                                                           0.00


SECTION 7.09 (b)(vi)  CUMULATIVE LOSS PERCENTAGE                                                                     0.00000000%

                      CUMULATIVE REALIZED LOSSES                                                                           0.00

                      ANNUAL LOSS PERCENTAGE                                                                         0.00000000%


SECTION 7.09 (b)(vii) 60 + DELINQUENCY PERCENTAGE                                                                    1.64810192%
</TABLE>