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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 15, 1997
COUNTRYWIDE HOME EQUITY LOAN TRUST 1996-A
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(Exact name of registrant as specified in its charter)
CALIFORNIA 333-11095 13-2631719
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(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number Identification No.)
c/o The First National Bank of Chicago
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Corporate Trust Services Division - 9th floor
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1 N. State Street, Chicago, IL 60670-0126
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: 312/407-1902
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Item 5. Other Events
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On behalf of Countrywide Home Equity Loan Trust 1996-A, a Trust
created pursuant to the Pooling Agreement, dated October 31, 1996, by
The First National Bank of Chicago, as trustee for the Trust, the
Trustee has caused to be filed with the Commission, the Monthly Report
dated January 15, 1997. The Monthly Report is filed pursuant to and in
accordance with (1) numerous no-action letters (2) current Commission
policy in the area. The filing of the Monthly Report will occur
subsequent to each monthly distribution to the holders of the Trust's
Investor Certificates, Due January 15, 2028.
A. Monthly Report Information:
Aggregate distribution information for the current distribution
date January 15, 1997.
Principal Interest Ending Balance
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Cede & Co. $678,113.61 $1,177,339.00 $243,521,025.68
B. No delinquency in payment under the Transferor Certificate, or the
Financial Guaranty Insurance Policy has occurred.
C. Have any deficiencies occurred? NO.
Date:
Amount:
D. Were any amounts paid or are any amounts payable under the
Financial Guaranty Insurance Policy? NO
Amount:
E. Are there any developments with respect to the Financial Guaranty
Insurance Policy? NONE.
F. Item 1: Legal Proceedings: NONE
G. Item 2: Changes in Securities: NONE
H. Item 4: Submission of Matters to a Vote of Security Holders: NONE
I. Item 5: Other Information - Items 1, 2, 4, 5 if applicable: NOT
APPLICABLE
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Item 7. Monthly Statements and Exhibits
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Exhibit No.
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1. Monthly Statement to Certificateholders dated January 15, 1997
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COUNTRYWIDE HOME EQUITY LOAN TRUST 1996-A
By ___________________________________
Name: Barbara Grosse
Title: Assistant Vice President
Dated: January 31, 1997
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Countrywide Home Loans, Inc. Date of Report: 1/9/97 Page 11
Countrywide Home Equity Loan Trust-Series 1996-A Time of Report: 12:24 PM
P & S Agreement Date: October 31, 1996
Original Settlement Date: November 21, 1996
CUSIP Number of Certificates: 222374AA8
Original Sale Balance 246,033,118
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Distribution Date: 12/16/96 1/15/97
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed 3.857639 4.785287
Investor Certificate Interest Shortfall Distributed 0.000000 0.000000
Remaining Unpaid Investor Certificate Interest Shortfall 0.000000 0.000000
Managed Amortization Period ? (Yes=1; No=0) 1 1
Investors Certificate Principal Distributed 7.454195 2.756188
Principal Distribution Amount 4.481303 0.000000
Maximum Principal Payment 30.680303 23.983853
Alternative Principal Payment 4.481303 0.000000
Principal Collections less Additional Balances 4.481303 -2.856399
Investor Loss Amount Distributed to Investors 0.000000 0.000000
Accelerated Principal Distribution Amount 2.972892 2.756188
Credit Enhancement Draw Amount 0.00 0.00
Total Amount Distributed to Certificateholders (P & I) 11.311833 7.541475
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance 246,033,118.00 244,199,139.28
Ending Investor Certificate Balance 244,199,139.28 243,521,025.68
Beginning Invested Amount 246,033,118.00 244,930,569.06
Ending Invested Amount 244,930,569.06 244,930,569.06
Investor Certificateholder Floating Allocation Percentage 98.0000% 97.9912%
Pool Factor 0.9925458 0.9897896
Liquidation Loss Amount for Liquidated Loans 0.00 0.00
Unreimbursed Liquidation Loss Amount 0.00 0.00
C. POOL INFORMATION
Beginning Pool Balance 251,054,202.11 249,951,653.17
Ending Pool Balance 249,951,653.17 250,654,421.91
Servicer Removals from the Trust (Section 2.06) 0.00 0.00
Servicing Fee 104,605.92 104,146.52
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate 5.555000% 5.785470%
LIBOR Rate 5.375000% 5.605470%
Maximum Rate 9.302085% 9.423053%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts 17 6
Trust Balances 852,187.49 144,876.26
Delinquent 60-89 days
No. of Accounts 3 7
Trust Balances 170,592.07 304,904.00
Delinquent 90+ days
No. of Accounts 0 2
Trust Balances 0.00 132,592.07
Delinquent 9+ Months
No. of Accounts 0 0
Trust Balances 0 0
REO
No. of Accounts 0 0
Trust Balances 0.00 0.00
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Countrywide Home Loans, Inc. Date of Report: 1/9/97 Page 11
Countrywide Home Equity Loan Trust-Series 1996-A Time of Report: 12:24 PM
P & S Agreement Date: October 31, 1996
Original Settlement Date: November 21, 1996
CUSIP Number of Certificates: 222374AA8
Original Sale Balance 246,033,118
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Statement to Certificateholders (Page 2 of 2)
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Distribution Date: 12/16/96 1/15/97
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IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed
this 9th day of January, 1997
Countrywide Home Loans Formerly Known as Countrywide Funding Corporation
as Servicer
/s/ Frederick J. Budig
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Frederick J. Budig
Senior Vice-President
Distribution List:
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Frank Skibo - FSA Lupe Montero - Countrywide Home Loans
Barbara Grosse - First National Bank of Chiago Richard Marron - Countrywide Home Loans
Brad Andres - Lehman Brothers Dave Walker - Countrywide Home Loans
Paul Marsilio - Lehman Brothers
Julie Uhlig - Moody's Investors Service
Gail Brennan - Standard & Poor's Corp.
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