<PAGE>   1

                                                                    EXHIBIT 99.3
<PAGE>   2

<TABLE>
<CAPTION>
                                                    IMC HOME EQUITY LOAN TRUST
                                                MORTGAGE PASS-THROUGH CERTIFICATES
                                                          SERIES 1996-3
===============================================================================================================================  
               DISTRIBUTION:           26-Aug-96                               
                                                                               
                                                                               
                                                                               
                                                                               
               ORIGINAL           BEGINNING                                                                        ENDING        
             CERTIFICATE         CERTIFICATE          PRINCIPAL            INTEREST             TOTAL           CERTIFICATE      
  CLASS        BALANCE             BALANCE           DISTRIBUTION        DISTRIBUTION       DISTRIBUTION          BALANCE        
-------------------------------------------------------------------------------------------------------------------------------  
 <S>           <C>                 <C>                  <C>                   <C>              <C>                <C>
   A-1         84,132,000.00       84,132,000.00        2,695,571.65          490,770.00       3,186,341.65       81,436,428.35  
   A-2         30,423,000.00       30,423,000.00                0.00          178,988.65         178,988.65       30,423,000.00  
   A-3         39,920,000.00       39,920,000.00                0.00          241,848.67         241,848.67       39,920,000.00  
   A-4          9,636,000.00        9,636,000.00                0.00           59,341.70          59,341.70        9,636,000.00  
   A-5         37,842,000.00       37,842,000.00                0.00          238,404.60         238,404.60       37,842,000.00  
   A-6         19,855,000.00       19,855,000.00                0.00          129,553.88         129,553.88       19,855,000.00  
   A-7         28,192,000.00       28,192,000.00                0.00          189,121.33         189,121.33       28,192,000.00  
    R                    N/A                 N/A                 N/A                0.00               0.00                 N/A 
-------------------------------------------------------------------------------------------------------------------------------  
 TOTALS       250,000,000.00      250,000,000.00        2,695,571.65        1,528,028.83       4,223,600.48      247,304,428.35  
-------------------------------------------------------------------------------------------------------------------------------  


-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------

<CAPTION>                   
IMC HOME EQUITY LOAN TRUST
ORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-3
==================================================
                           PAGE #  1                                    
                                                                               
                                                                               
                                                                               
                                                                               
                                      ENDING                                   
                  SUBORDINATE        PRINCIPAL                                 
 CLASS               AMOUNT           BALANCE                                  
--------------------------------------------------
 <S>                <C>             <C>
  A-1                                                                          
  A-2                                                                          
  A-3                                                                          
  A-4                                                                          
  A-5                                                                          
  A-6               753,715.03      248,058,143.38                             
  A-7                                        
   R                                        
--------------------------------------------------                             
 TOTAL              753,715.03      248,058,143.38                             
--------------------------------------------------



--------------------------------------------------
--------------------------------------------------
</TABLE>


<TABLE>
<CAPTION>                                                                      
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
         FACTOR INFORMATION PER $1,000                                         
                                                                               
                                                                               
                                                                                             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           32.03979046          5.83333333        967.96020954               A-1          7.00000000%    7.00000000%      
   A-2            0.00000000          5.88333333       1000.00000000               A-2          7.06000000%    7.06000000%      
   A-3            0.00000000          6.05833342       1000.00000000               A-3          7.27000000%    7.27000000%      
   A-4            0.00000000          6.15833333       1000.00000000               A-4          7.39000000%    7.39000000%      
   A-5            0.00000000          6.30000000       1000.00000000               A-5          7.56000000%    7.56000000%     
   A-6            0.00000000          6.52500025       1000.00000000               A-6          7.83000000%    7.83000000%      
   A-7            0.00000000          6.70833322       1000.00000000               A-7          8.05000000%    8.05000000%     
--------------------------------------------------------------------          -----------------------------------------------   
 TOTALS           10.7822866          4.83741448         989.2177134                                                            
--------------------------------------------------------------------                                                           




=============================================================================================================================   
</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
             ------------------------------------------------------            
                                                                           
                                                                           
                                                                           
                                                                         




(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK             

--------------------------------------------------------------------------------
<PAGE>   3
<TABLE>                                                                        
<CAPTION>                                                                      

-----------------------------------------------------------------------------------------------------------------------------------
                                                    IMC HOME EQUITY LOAN TRUST
                                                MORTGAGE PASS-THROUGH CERTIFICATES
                                                          SERIES 1996-3
===================================================================================================================================

          DISTRIBUTION:         26-Aug-96                                                                             PAGE #  2   
                                                                               
                                                                               
<S>                    <C>                                                                      <C>                 <C>             
SECTION 7.08 (1)              BEGINNING CERTIFICATE ACCOUNT                                       4,257,434.42                   
                                                                               
                                                                               
SECTION 7.08 (2)              CLASS A DISTRIBUTION AMOUNT                                         3,365,330.30                   
                                                                               
                                                                               
                                                                               
SECTION 7.08 (3)              SUBORDINATION INCREASE AMOUNT                                         753,715.03                   
                                                                               
SECTION 7.08 (4)              INSURED PAYMENT                                                             0.00                   
                                                                               
SECTION 7.08 (6)              BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE                   201,953,000.00                   
                              CLASS A PRINCIPAL DISTRIBUTION                                      2,695,571.65                   
                              ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                      247,304,428.35                   
                                                                               
                                                                               
SECTION 7.08 (7)              REALIZED LOSSES                                                             0.00                   
                                                                               
                                                                               
SECTION 7.08 (8)              SUBORDINATION REDUCTION AMOUNT                                              0.00                   
                                                                               
SECTION 7.08 (9)          (A) PRE-FUNDED AMOUNT PREVIOUSLY USED TO PURCHASE
                              SUBSEQUENT MORTGAGE LOANS                                              64,439.92                   
                          (B) PRE-FUNDED AMOUNT DISTRIBUTED AS A CLASS A PRINCIPAL         
                              DISTRIBUTION AMOUNT                                                    50,071.77                   
                          (C) PRE-FUNDING ACCOUNT EARNINGS TRANSFERRED TO THE                                                    
                              CAPITALIZED INTEREST ACCOUNT                                              133.88                   
                          (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                                                1,186.86                   
                                                                               
                                                                                                                    PER $1000    
SECTION 7.09 (a)(i)           CLASS A-1 DISTRIBUTION                                              3,186,341.65          37.87    
                              CLASS A-2 DISTRIBUTION                                                178,988.65           5.88    
                              CLASS A-3 DISTRIBUTION                                                241,848.67           6.06    
                              CLASS A-4 DISTRIBUTION                                                 59,341.70           6.16    
                              CLASS A-5 DISTRIBUTION                                                238,404.60           6.30    
                              CLASS A-6 DISTRIBUTION                                                129,553.88           6.53    
                              CLASS A-7 DISTRIBUTION                                                189,121.33           6.71    
                              CLASS R DISTRIBUTION                                                        0.00                   
                                                                               
SECTION 7.09 (a)(ii)          CLASS A PRINCIPAL DISTRIBUTION                                              
                                                INSTALLMENT PRINCIPAL COLLECTED                     127,894.54           1.12    
                                                PRINCIPAL PREPAYMENTS                             1,602,739.74          13.99    
                                                SUBORDINATION INCREASE AMOUNT                       753,715.03           6.58    
                                                PRIN PREPAY FROM PRE-FUND ACCT                       50,071.77           0.44    
                                                OTHER                                               161,150.57           1.41    
                                                                                       
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 A-7 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                                     248,058,143.38                   
                              ENDING NUMBER OF LOANS OUTSTANDING                                         4,003                   
                                                                                       
                                                                                       
SECTION 7.09 (a)(vii)         SUBORDINATED AMOUNT                                                         0.00                   
                              SUBORDINATED DEFICIT                                                        0.00

SECTION 7.09 (a)(ix)          SUBSTITUTION AMOUNTS INCLUDED IN DISTRIBUTION                         114,253.00
                              LOAN PURCHASE PRICE AMTS INCLUDED IN DISTRIBUTION                      48,712.63



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   4

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                    IMC HOME EQUITY LOAN TRUST
                                                MORTGAGE PASS-THROUGH CERTIFICATES
                                                           SERIES 1996-3
====================================================================================================================================
        DISTRIBUTION:                26-Aug-96                                                                           PAGE # 3 


<S>                          <C>                                                                  <C>           <C>
SECTION 7.09 (a)(x)          WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                          11.6170%

SECTION 7.09 (a)(xii)        LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                            439,873.82

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:*

                             -------------------------------------------------------------------------------
                                   CATEGORY                COUNT        AGG. PRIN. BAL.      PERCENTAGE
                             -------------------------------------------------------------------------------

                                  30-59 DAYS                116              6,562,361.83              2.64%
                                  60-89 DAYS                 33              2,401,405.29              0.97%
                                   90 + DAYS                  2                159,500.00              0.06%
                             -------------------------------------------------------------------------------

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


SECTION 7.09 (b)(ii)         NUMBER OF LOANS IN FORECLOSURE                                                                  0

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                           0.00



                             NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                             IN THE PRIOR MONTH                                                                              0

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                             THAT WERE COMMENCED IN THE PRIOR MONTH                                                       0.00


SECTION 7.09 (b)(iii)        NUMBER OF LOANS IN BANKRUPTCY                                                                   4

                             AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                     304,681.10


                             NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                     1770

                             AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                 132,458,262.60


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                                                            1.03238106%




(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>   5
                                                                     EXHIBIT 19
--------------------------------------------------------------------------------
                          IMC HOME EQUITY LOAN TRUST
                      MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-3
================================================================================
          DISTRIBUTION:       25-Sep-96                         PAGE # 1    




<TABLE>
<CAPTION>
            ORIGINAL        BEGINNING                                                      ENDING                        ENDING    
           CERTIFICATE     CERTIFICATE      PRINCIPAL        INTEREST        TOTAL      CERTIFICATEE    SUBORDINATE     PRINCIPAL  
CLASS        BALANCE         BALANCE       DISTRIBUTION    DISTRIBUTION   DISTRIBUTION    BALANCE         AMOUNT         BALANCE
------------------------------------------------------------------------------------------------------------------------------------
<S>       <C>             <C>               <C>              <C>          <C>           <C>            <C>           <C>
 A-1      84,132,000.00   81,436,428.35     4,140,847.69     475,045.83   4,615,893.52  77,295,580.66                               
 A-2      30,423,000.00   30,423,000.00             0.00     178,988.65     178,988.65  30,423,000.00                               
 A-3      39,920,000.00   39,920,000.00             0.00     241,848.67     241,848.67  39,920,000.00                               
 A-4       9,636,000.00    9,636,000.00             0.00      59,341.70      59,341.70   9,636,000.00                              
 A-5      37,842,000.00   37,842,000.00             0.00     238,404.60     238,404.60  37,842,000.00  1,503,871.52  244,667,452.18
 A-6      19,855,000.00   19,855,000.00             0.00     129,553.88     129,553.88  19,855,000.00                              
 A-7      28,192,000.00   28,192,000.00             0.00     189,121.33     189,121.33  28,192,000.00                              
  R            N/A            N/A             N/A              1,587.07       1,587.07       N/A                                   
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS  250,000,000.00  247,304,428.35     4,140,847.69   1,513,891.73   5,654,739.42  243,163,580.66 1,503,871.52  244,667,452.18
------------------------------------------------------------------------------------------------------------------------------------
</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      49.21846254      5.64643453      918.74174700                      A-1            7.00000000%    7.00000000%           
   A-2       0.00000000      5.88333333     1000.00000000                      A-2            7.06000000%    7.06000000%           
   A-3       0.00000000      6.05833342     1000.00000000                      A-3            7.27000000%    7.27000000%           
   A-4       0.00000000      6.15833333     1000.00000000                      A-4            7.39000000%    7.39000000%
   A-5       0.00000000      6.30000000     1000.00000000                      A-5            7.56000000%    7.56000000%           
   A-6       0.00000000      6.52500025     1000.00000000                      A-6            7.83000000%    7.83000000%           
   A-7       0.00000000      6.70833322     1000.00000000                      A-7            8.05000000%    8.05000000%           
---------------------------------------------------------                     -----------------------------------------
 TOTALS     16.56339076     4.826559144       972.6543226                                                                         
---------------------------------------------------------                     
</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
                                                                               
                                                                               


                                                                               
                                                                               


                                                                               
                                                                               





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK                                   
                                                                               

<PAGE>   6

--------------------------------------------------------------------------------
                          IMC HOME EQUITY LOAN TRUST
                      MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-3
================================================================================
          DISTRIBUTION:     25-Sep-96                             PAGE # 2     




<TABLE>
<S>                     <C>                                                <C>                 <C>                 <C>
SECTION 7.08 (1)        BEGINNING CERTIFICATE ACCOUNT                                            5,688,201.09

SECTION 7.08 (2)        CLASS A DISTRIBUTION AMOUNT                                              4,794,882.17            
                                                                                                                         
SECTION 7.08 (3)        SUBORDINATION INCREASE AMOUNT                                              750,156.49            

SECTION 7.08 (4)        INSURED PAYMENT                                                                  0.00
                                                                                                                         
SECTION 7.08 (6)        *BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE                       247,304,428.35            
                        CLASS A PRINCIPAL DISTRIBUTION                                           4,140,847.69            
                        ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                           243,163,580.66

SECTION 7.08 (7)        REALIZED LOSSES                                                                  0.00
                                                                                                             
SECTION 7.08 (8)        SUBORDINATION REDUCTION AMOUNT                                                   0.00

SECTION 7.08 (9)    (A) 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

                                                                                                                   PER $1000  
SECTION 7.09 (a)(i)     CLASS A-1 DISTRIBUTION                                                   4,615,893.52          54.86
                        CLASS A-2 DISTRIBUTION                                                     178,988.65           5.88  
                        CLASS A-3 DISTRIBUTION                                                     241,848.67           6.06
                        CLASS A-4 DISTRIBUTION                                                      59,341.70           6.16
                        CLASS A-5 DISTRIBUTION                                                     238,404.60           6.30
                        CLASS A-6 DISTRIBUTION                                                     129,553.88           6.53  
                        CLASS A-7 DISTRIBUTION                                                     189,121.33           6.71
                        CLASS R DISTRIBUTION                                                         1,587.07                 

SECTION 7.09 (a)(ii)    CLASS A PRINCIPAL DISTRIBUTION
                                          INSTALLMENT PRINCIPAL COLLECTED                          159,935.09           1.40
                                          PRINCIPAL PREPAYMENTS                                  3,230,756.11          28.20
                                          SUBORDINATION INCREASE AMOUNT                            750,156.49           6.55  
                                          PRIN PREPAY FROM PRE-FUND ACCT                                 0.00           0.00
                                          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 A-7 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                                          244,667,452.18
                        ENDING NUMBER OF LOANS OUTSTANDING                                              3,953


SECTION 7.09 (a)(vii)   SUBORDINATED AMOUNT                                                      1,503,871.52                    
                        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





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK                               *  Previous reports did not include all the starting 
                                                                              class balances.  This figure as been adjusted to 
                                                                              reflect all the certificate balances.

</TABLE>

<PAGE>   7
--------------------------------------------------------------------------------
                          IMC HOME EQUITY LOAN TRUST
                      MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 1996-3
================================================================================
       DISTRIBUTION:                25-Sep-96                      PAGE # 3  



<TABLE>
<S>                    <C>                                                                      <C>           <C>
SECTION 7.09 (a)(x)    WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                               11.6067%
                                                                                              
SECTION 7.09 (a)(xii)  LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                                439,617.67
                                                                                                                 
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:* 

                            -------------------------------------------------------------------------------
                             CATEGORY                        COUNT         AGG. PRIN. BAL.       PERCENTAGE
                            -------------------------------------------------------------------------------
                            30-59 DAYS                         96           5,639,276.85              2.30%
                            60-89 DAYS                         44           2,358,705.89              0.96%
                             90 + DAYS                         25           1,653,196.32              0.68%
                            -------------------------------------------------------------------------------

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

SECTION 7.09 (b)(ii)   NUMBER OF LOANS IN FORECLOSURE                                                                      7
                                                                                        
                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                         688,730.33
                                                                                        
                       NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED               
                       IN THE PRIOR MONTH                                                                                  7
                                                                                        
                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE              
                       THAT WERE COMMENCED IN THE PRIOR MONTH                                                     688,730.33
                                                                                        
SECTION 7.09 (b)(iii)  NUMBER OF LOANS IN BANKRUPTCY                                                                       9
                                                                                        
                       AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                         660,628.31
                                                                                        
                       NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                         1748
                                                                                        
                       AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                     130,715,761.70
                                                                                        
SECTION 7.09 (b)(iv)   NUMBER OF REO PROPERTIES                                                                            1
                                                                                        
                       AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                              156,947.00
                                                                                        
SECTION 7.09 (b)(v)    BOOK VALUE OF REO PROPERTY                                                                 166,500.00
                                                                                        
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                                                                1.36813246%
</TABLE>






(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK           
<PAGE>   8
                                                                      EXHIBIT 19

                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

        DISTRIBUTION:       25-Oct-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    84,132,000.00   77,295,580.66   4,103,423.01     450,890.89   4,554,313.90   73,192,157.65
  A-2    30,423,000.00   30,423,000.00           0.00     178,988.65     178,988.65   30,423,000.00
  A-3    39,920,000.00   39,920,000.00           0.00     241,848.67     241,848.67   39,920,000.00                    
  A-4     9,636,000.00    9,636,000.00           0.00      59,341.70      59,341.70    9,636,000.00
  A-5    37,842,000.00   37,842,000.00           0.00     238,404.60     238,404.60   37,842,000.00   2,243,211.80    241,303,369.45
  A-6    19,855,000.00   19,855,000.00           0.00     129,553.88     129,553.88   19,855,000.00  
  A-7    28,192,000.00   28,192,000.00           0.00     189,121.33     189,121.33   28,192,000.00
   R          N/A            N/A            N/A             4,091.15       4,091.15       N/A   
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS 250,000,000.00  243,163,580.66   4,103,423.01   1,492,240.87   5,595,663.88  239,060,157.65   2,243,211.80    241,303,369.45
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

      FACTOR INFORMATION PER $1,000


                                                                PASS THRU RATES

<TABLE>
<CAPTION>
           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      48.77362969      5.35932689     869.96811730                      A-1           7.00000000%    7.00000000% 
  A-2       0.00000000      5.88333333    1000.00000000                      A-2           7.06000000%    7.06000000%   
  A-3       0.00000000      6.05833342    1000.00000000                      A-3           7.27000000%    7.27000000% 
  A-4       0.00000000      6.15833333    1000.00000000                      A-4           7.39000000%    7.39000000%
  A-5       0.00000000      6.30000000    1000.00000000                      A-5           7.56000000%    7.56000000%
  A-6       0.00000000      6.52500025    1000.00000000                      A-6           7.83000000%    7.83000000%    
  A-7       0.00000000      6.70833322    1000.00000000                      A-7           8.05000000%    8.05000000% 
--------------------------------------------------------                  ---------------------------------------------
 TOTALS    16.41369205     4.809414744      956.2406306                                   
--------------------------------------------------------       

==================================================================================================================================
</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




(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK



<PAGE>   9
                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3


        DISTRIBUTION:   25-Oct-96                                       PAGE # 2

<TABLE>

<S>                       <C>                                                                <C>                      <C>
SECTION 7.08 (1)               BEGINNING CERTIFICATE ACCOUNT                                   5,628,572.91

SECTION 7.08 (2)               CLASS A DISTRIBUTION AMOUNT                                     4,733,302.55 

SECTION 7.08 (3)               SUBORDINATION INCREASE AMOUNT                                     739,340.28

SECTION 7.08 (4)               INSURED PAYMENT                                                         0.00

SECTION 7.08 (6)               *BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE              243,163,580.66
                               CLASS A PRINCIPAL DISTRIBUTION                                  4,103,423.01
                               ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                  239,060,157.65 

SECTION 7.08 (7)               REALIZED LOSSES                                                         0.00

SECTION 7.08 (8)               SUBORDINATION REDUCTION AMOUNT                                          0.00

SECTION 7.08 (9)          (A)  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

                                                                                                                      PER $1000  
                                                                                                                      ---------
SECTION 7.09 (a)(i)            CLASS A-1 DISTRIBUTION                                          4,554,313.90            54.13
                               CLASS A-2 DISTRIBUTION                                            178,988.65             5.88  
                               CLASS A-3 DISTRIBUTION                                            241,848.67             6.06
                               CLASS A-4 DISTRIBUTION                                             59,341.70             6.16
                               CLASS A-5 DISTRIBUTION                                            238,404.60             6.30
                               CLASS A-6 DISTRIBUTION                                            129,553.88             6.53
                               CLASS A-7 DISTRIBUTION                                            189,121.33             6.71 
                               CLASS R DISTRIBUTION                                                4,091.15

SECTION 7.09 (a)(ii)           CLASS A PRINCIPAL DISTRIBUTION
                                                  INSTALLMENT PRINCIPAL COLLECTED                164,272.15             1.43
                                                  PRINCIPAL PREPAYMENTS                        3,199,810.58            27.93
                                                  SUBORDINATION INCREASE AMOUNT                  739,340.28             6.45
                                                  PRIN PREPAY FROM PRE-FUND ACCT                       0.00             0.00
                                                  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 A-7 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                                 241,303,369.45
                               ENDING NUMBER OF LOANS OUTSTANDING                                     3,908

SECTION 7.09 (a)(vii)          SUBORDINATED AMOUNT                                             2,243,211.80
                               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>   10
                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3


      DISTRIBUTION:   25-Oct-96                                         PAGE # 3

<TABLE>

<S>                     <C>                                                                <C>                      <C>
SECTION 7.09 (a)(x)     WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                       11.6000% 

SECTION 7.09 (a)(xii)   LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                         439,617.67

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          109            7,015,068.40             2.91% 
                  60-89 DAYS           50            3,222,051.41             1.34%
                   90 + DAYS           56            3,297,416.71             1.37%
                  --------------------------------------------------------------------
</TABLE>
                  * The number and aggregate principal balances of delinquent 
                    mortgage loans includes loans in foreclosure and bankruptcy

<TABLE>

<S>                     <C>                                                                <C>                      <C>
SECTION 7.09 (b)(ii)    NUMBER OF LOANS IN FORECLOSURE                                                                         20 

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                           1,487,180.27


                        NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                        IN THE PRIOR MONTH                                                                                     14

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE 
                        THAT WERE COMMENCED IN THE PRIOR MONTH                                                         833,389.86


SECTION 7.09 (b)(iii)   NUMBER OF LOANS IN BANKRUPTCY                                                                          12

                        AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                             747,505.15

 
                        NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                            1,730   

                        AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                         129,338,644.93


SECTION 7.09 (b)(iv)    NUMBER OF REO PROPERTIES                                                                                2 

                        AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                                  176,484.61


SECTION 7.09 (b)(v)     BOOK VALUE OF REO PROPERTY                                                                     196,200.00 


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                                                                   1.83705850% 

</TABLE>



(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK




<PAGE>   11
                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

DISTRIBUTION:       25-Nov-96                                           PAGE # 1




<TABLE>
<CAPTION>
            ORIGINAL       BEGINNING                                                          ENDING       
           CERTIFICATE    CERTIFICATE       PRINCIPAL        INTEREST         TOTAL        CERTIFICATE     
  CLASS      BALANCE        BALANCE        DISTRIBUTION    DISTRIBUTION    DISTRIBUTION      BALANCE       
--------------------------------------------------------------------------------------------------------
 <S>     <C>             <C>                 <C>            <C>             <C>           <C>              
   A-1    84,132,000.00   73,192,157.65      4,345,982.77     426,954.25    4,772,937.02   68,846,174.88   
   A-2    30,423,000.00   30,423,000.00              0.00     178,988.65      178,988.65   30,423,000.00   
   A-3    39,920,000.00   39,920,000.00              0.00     241,848.67      241,848.67   39,920,000.00   
   A-4     9,636,000.00    9,636,000.00              0.00      59,341.70       59,341.70    9,636,000.00   
   A-5    37,842,000.00   37,842,000.00              0.00     238,404.60      238,404.60   37,842,000.00   
   A-6    19,855,000.00   19,855,000.00              0.00     129,553.88      129,553.88   19,855,000.00   
   A-7    28,192,000.00   28,192,000.00              0.00     189,121.33      189,121.33   28,192,000.00   
    R          N/A            N/A              N/A              4,331.23        4,331.23       N/A         
--------------------------------------------------------------------------------------------------------
 TOTALS  250,000,000.00  239,060,157.65      4,345,982.77   1,468,544.31    5,814,527.08  234,714,174.88   
--------------------------------------------------------------------------------------------------------

<CAPTION>
                             ENDING
            SUBORDINATE     PRINCIPAL
  CLASS       AMOUNT         BALANCE
----------------------------------------
 <S>        <C>             <C>
   A-1   
   A-2   
   A-3   
   A-4   
   A-5      2,974,208.76 237,688,383.64
   A-6   
   A-7   
    R    
----------------------------------------
 TOTALS     2,974,208.76 237,688,383.64
----------------------------------------
</TABLE>


--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

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


                                                                                         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>
   A-1      51.65671527      5.07481398      818.31140203                      A-1            7.00000000%    7.00000000%
   A-2       0.00000000      5.88333333     1000.00000000                      A-2            7.06000000%    7.06000000%
   A-3       0.00000000      6.05833342     1000.00000000                      A-3            7.27000000%    7.27000000%
   A-4       0.00000000      6.15833333     1000.00000000                      A-4            7.39000000%    7.39000000%
   A-5       0.00000000      6.30000000     1000.00000000                      A-5            7.56000000%    7.56000000%
   A-6       0.00000000      6.52500025     1000.00000000                      A-6            7.83000000%    7.83000000%
   A-7       0.00000000      6.70833322     1000.00000000                      A-7            8.05000000%    8.05000000%
---------------------------------------------------------                     ------------------------------------------
 TOTALS     17.38393107     6.124872895       938.8566995
---------------------------------------------------------
</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





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK
================================================================================
<PAGE>   12

                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

DISTRIBUTION:         25-Nov-96                                       PAGE # 2




<TABLE>
<S>                                                                                            <C>                 <C>
SECTION 7.08 (1)        BEGINNING CERTIFICATE ACCOUNT                                            5,846,885.52


SECTION 7.08 (2)        CLASS A DISTRIBUTION AMOUNT                                              5,810,195.85


SECTION 7.08 (3)        SUBORDINATION INCREASE AMOUNT                                              730,996.96


SECTION 7.08 (4)        INSURED PAYMENT                                                                  0.00

SECTION 7.08 (6)        *BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE                       239,060,157.65
                        CLASS A PRINCIPAL DISTRIBUTION                                           4,345,982.77
                        ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                           234,714,174.88


SECTION 7.08 (7)        REALIZED LOSSES                                                                  0.00


SECTION 7.08 (8)        SUBORDINATION REDUCTION AMOUNT                                                   0.00


SECTION 7.08 (9)    (A) 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

                                                                                                                   PER $1000
SECTION 7.09 (a)(i)     CLASS A-1 DISTRIBUTION                                                   4,772,937.02          56.73
                        CLASS A-2 DISTRIBUTION                                                     178,988.65           5.88
                        CLASS A-3 DISTRIBUTION                                                     241,848.67           6.06
                        CLASS A-4 DISTRIBUTION                                                      59,341.70           6.16
                        CLASS A-5 DISTRIBUTION                                                     238,404.60           6.30
                        CLASS A-6 DISTRIBUTION                                                     129,553.88           6.53
                        CLASS A-7 DISTRIBUTION                                                     189,121.33           6.71
                        CLASS R DISTRIBUTION                                                         4,331.23

SECTION 7.09 (a)(ii)    CLASS A PRINCIPAL DISTRIBUTION
                                          INSTALLMENT PRINCIPAL COLLECTED                          132,480.30           1.16
                                          PRINCIPAL PREPAYMENTS                                  3,482,505.51          30.40
                                          SUBORDINATION INCREASE AMOUNT                            730,996.96           6.38
                                          PRIN PREPAY FROM PRE-FUND ACCT                                 0.00           0.00
                                          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 A-7 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                                          237,688,383.64
                        ENDING NUMBER OF LOANS OUTSTANDING                                              3,851


SECTION 7.09 (a)(vii)   SUBORDINATED AMOUNT                                                      2,974,208.76
                        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>   13





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

SECTION 7.09 (a)(x)         WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                                 11.5930%     
                                                                                                                       
SECTION 7.09 (a)(xii)       LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                                  439,356.37      
                                                                                                                       
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:*                     


                                     CATEGORY                COUNT            AGG. PRIN. BAL.    PERCENTAGE          
                                    30-59 DAYS                 74                   3,837,280.88            1.61%    
                                    60-89 DAYS                 38                   2,392,563.04            1.01%    
                                     90 + DAYS                 83                   5,173,576.32            2.18%    

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


SECTION 7.09 (b)(ii)        NUMBER OF LOANS IN FORECLOSURE                                                                35

                            AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                  2,282,006.45
                                                                                                          
                                                                                                          
                                                                                                          
                            NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED                            
                            IN THE PRIOR MONTH                                                                            15
                                                                                                          
                            AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE                           
                            THAT WERE COMMENCED IN THE PRIOR MONTH                                                794,826.18




SECTION 7.09 (b)(iii)       NUMBER OF LOANS IN BANKRUPTCY                                                                 20

                            AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                  1,438,346.37
                                                                                                
                                                                                                
                                                                                                
                            NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                    1700
                                                                                                
                            AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                127,021,672.59




SECTION 7.09 (b)(iv)        NUMBER OF REO PROPERTIES                                                                       2

                            AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                         176,485.00




SECTION 7.09 (b)(v)         BOOK VALUE OF REO PROPERTY                                                            196,200.00




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                                                           2.19216101%
</TABLE>





(C) COPYRIGHT 1996, THE CHASE MANHATTAN BANK




<PAGE>   14

                           IMC HOME EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

       DISTRIBUTION:         25-Nov-96





<TABLE>
<CAPTION>
        RANGE                     SMM               CPR
         <S>                     <C>              <C>
         OCT                     1.44%            16.02%
         SEPT                    1.31%            14.62%
         AUG                     1.30%            14.57%
         JULY                    0.73%             8.38%
</TABLE>




<PAGE>   15
                             IMC EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

         DISTRIBUTION:    26-DEC-96                                     PAGE # 2

<TABLE>
<S>                 <C>                                                                       <C>                 <C>
SECTION 7.08 (1)        BEGINNING CERTIFICATE ACCOUNT                                            6,615,585.59

SECTION 7.08 (2)        CLASS A DISTRIBUTION AMOUNT                                              6,581,521.95

SECTION 7.08 (3)        SUBORDINATION INCREASE AMOUNT                                              720,430.34

SECTION 7.08 (4)        INSURED PAYMENT                                                                  0.00

SECTION 7.08 (6)        *BEGINNING CLASS A CERTIFICATE PRINCIPAL BALANCE                       234,714,174.88
                        CLASS A PRINCIPAL DISTRIBUTION                                           5,142,660.43
                        ENDING CLASS A CERTIFICATE PRINCIPAL BALANCE                           229,571,514.44

SECTION 7.08 (7)        REALIZED LOSSES                                                                  0.00

SECTION 7.08 (8)        SUBORDINATION REDUCTION AMOUNT                                                   0.00

SECTION 7.08 (9)    (A) 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
                                                                                                                   PER $1000
                                                                                                                   ---------
SECTION 7.09 (a)(i)     CLASS A-1 DISTRIBUTION                                                   5,544,263.12          65.90
                        CLASS A-2 DISTRIBUTION                                                     178,988.65           5.88
                        CLASS A-3 DISTRIBUTION                                                     241,848.67           6.06
                        CLASS A-4 DISTRIBUTION                                                      59,341.70           6.16
                        CLASS A-5 DISTRIBUTION                                                     238,404.60           6.30
                        CLASS A-6 DISTRIBUTION                                                     129,553.88           6.53
                        CLASS A-7 DISTRIBUTION                                                     189,121.33           6.71
                        CLASS R DISTRIBUTION                                                         2,294.51

SECTION 7.09 (a)(ii)    CLASS A PRINCIPAL DISTRIBUTION
                                          INSTALLMENT PRINCIPAL COLLECTED                          162,215.67           1.42
                                          PRINCIPAL PREPAYMENTS                                  4,260,014.42          37.19
                                          SUBORDINATION INCREASE AMOUNT                            720,430.34           6.29
                                          PRIN PREPAY FROM PRE-FUND ACCT                                 0.00           0.00
                                          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 A-7 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                                          233,266,153.55
                        ENDING NUMBER OF LOANS OUTSTANDING                                              3,780

SECTION 7.09 (a)(vii)   SUBORDINATED AMOUNT                                                      3,694,639.11
                        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>   16
                             IMC EQUITY LOAN TRUST
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 1996-3

         DISTRIBUTION:    26-DEC-96                                     PAGE # 3

<TABLE>
<S>                     <C>                                                                        <C>
SECTION 7.09 (a)(x)     WEIGHTED AVERAGE COUPON OF THE MORTGAGE LOANS                                 11.5774%

SECTION 7.09 (a)(xii)   LARGEST MORTGAGE LOAN BALANCE OUTSTANDING                                  439,223.76

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              118              7,111,673.20              3.05%
 60-89 DAYS               46              2,774,977.19              1.19%
 90 + DAYS               106              6,862,954.91              2.94%
 -----------------------------------------------------------------------------

*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                                                                          35

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORCLOSURE                                            2,342,677.13

                      NUMBER OF LOANS IN FORECLOSURE THAT WERE COMMENCED
                      IN THE PRIOR MONTH                                                                                       3

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN FORECLOSURE
                      THAT WERE COMMENCED IN THE PRIOR MONTH                                                          208,177.54



SECTION 7.09 (b)(iii) NUMBER OF LOANS IN BANKRUPTCY                                                                           32

                      AGGREGATE PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY                                            2,205,671.28



                      NUMBER OF LOANS THAT ARE "BALLOON" LOANS                                                              1669

                      AGG PRIN BALANCE OF LOANS THAT ARE "BALLOON LOANS"                                          124,543,534.49



SECTION 7.09 (b)(iv)  NUMBER OF REO PROPERTIES                                                                                 2

                      AGGREGATE PRINCIPAL BALANCE OF REO PROPERTIES                                                   176,484.61



SECTION 7.09 (b)(v)   BOOK VALUE OF REO PROPERTY                                                                      196,200.00


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                                                                     2.59520680%
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