TAMPA, Fla., June 23 /PRNewswire/ -- IMC Mortgage Company
(Nasdaq: IMCC)(IMC) announced today that National Lending Center, Inc. (NLCI)
has agreed to merge its company into the IMC Family of Companies.  The
transaction is expected to close in early July.
    George Nicholas, Chairman of IMC, remarked, "I have known Neal and Jeff
for many years and I am proud that National Lending Center is now a member of
IMC's family of companies.  We are very familiar and comfortable with the
quality of loans originated by the Company, having purchased their loans in
the past.  We are confident of the benefits apparent from this acquisition."
    National Lending Center, Inc., based in Deerfield Beach Florida, is a non-
conforming mortgage lender, founded in 1987 by its Chairman and President,
Neal Henschel.  The company originates loans primarily through mortgage
brokers and has operations in 17 states throughout the United States.  Total
loan volume exceeded $250 million in 1996.  During 1997, monthly originations
have progressively increased reaching a record in May of $35 million.  Average
monthly volume for the first five months of 1997 is approximately $27 million.
Neal and Jeff Henschel, Senior Vice President and Chief General Council, Dave
Brigman, Senior Vice President and Chief Operating Officer, along with the
rest of the senior management team have committed to a minimum of five years
of service with the newly merged corporations.
    Neal Henschel commented, "We are very excited about this new relationship
with IMC.  I had been seeking the best course to secure my company's future,
and the warm culture of IMC's management, together with their extensive
expertise in securitization, renders them the best fit of any potential merger
partner.  I believe that the synergies created by this merger will be
rewarding to employees of both companies, from senior managers to the staff
personnel who make the companies run on a day to day basis."
    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.
IMC has wholesale and retail operations in the US and began limited operations
in early 1996 in the United Kingdom through a joint venture.
    Statements in this press release concerning volume of loans, strategy and
future operations are forward-looking statements.  There are a number of
important factors that could cause the actual results of IMC Mortgage Company
and National Lending Center, Inc. to differ materially from those indicated in
such forward-looking statements.  Those factors include, but are not limited
to, residential real estate values, competition, general economic conditions,
such as changes in interest rates and the demand for non-conforming loans,
availability of funding, loan prepayment rates, delinquency and default rates
and changes which influence the loan securitization market generally.

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