TAMPA, Fla., July 24 /PRNewswire/ -- IMC Mortgage Company
(Nasdaq-NNM: IMCC) announced today that its shelf registration statement
was declared effective by the Securities and Exchange Commission on July
18, 1996.  The filing was made by the company's wholly owned subsidiary,
IMC Securities, Inc. and allows for the future issuance of an aggregate
of $1.5 billion of asset-backed securities.  The securities will be
offered from time to time via Certificates representing undivided
ownership interests in REMIC trusts at prices to be determined at the
time of sale.
    The first issue from this shelf registration, IMC Home Equity Loan
Trust 1996-3, was priced Tuesday as follows:

    Certificate                Ave. Life              Certificate
    class       Principal Amt    years    Coupon     Price     Yield
    A-1          $84,132,000      .90     7.00%     99.99830   6.550%
    A-2           30,423,000     2.10     7.06      99.99261   6.920
    A-3           39,920,000     3.10     7.27      99.97499   7.210
    A-4            9,636,000     4.00     7.39      99.99319   7.360
    A-5           37,842,000     5.20     7.56      99.97430   7.565
    A-6           19,855,000     7.30     7.83      99.95560   7.870
    A-7           28,192,000    11.21     8.05      99.95340   8.117

    TOTAL  $250,000,000

    Bear, Stearns & Co. Inc. is the lead underwriter for the issue with
NatWest Capital Markets Limited and Nomura Securities International,
Inc. acting as co-managers.  The Class A Certificates are collateralized
by home equity loans and will be insured by Financial Security Assurance
Inc. with an expected rating of Aaa by Moody's Investors Service and AAA
by Standard & Poors Ratings Services.
    IMC Mortgage Company is a Tampa-based specialty consumer finance
company engaged in purchasing, originating, servicing and selling home
equity loans secured primarily by first liens on one-to-four family
residential properties.  The company has wholesale and retail operations
in the U.S. and recently began operations in the United Kingdom through
a joint venture.