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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): April 15, 1997
COUNTRYWIDE HOME EQUITY LOAN TRUST 1997-A
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(Exact name of registrant as specified in its charter)
NEW YORK 333-11095 36-7186340
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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
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ONE FIRST NATIONAL PLAZA #0126
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CHICAGO, ILLINOIS 60670-0126
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(Zip Code)
Registrant's telephone number, including area code: 312/407-1902
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Item 5. Other Events
On behalf of Countrywide Home Equity Loan Trust 1997-A, a Trust
created pursuant to the Pooling Agreement, dated February 25, 1997, 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 April 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 February 15, 2027.
A. Monthly Report Information:
Aggregate distribution information for the current distribution
date April 15, 1997.
Principal Interest Ending Balance
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Cede & Co. $ -0- $847,166.67 $120,000,000.00
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 April 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 1997-A
By /s/ Barbara S. Grosse
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Name: Barbara Grosse
Title: Assistant Vice President
Dated: April 30, 1997
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Countrywide Home Loans, Inc. Date of Report: 4/11/97 Page 11
Countrywide Home Equity Loan Trust - Series 1997-A Time of Report: 12:06 PM
P & S Agreement Date: February 25, 1997
Original Settlement Date: February 28, 1997
CUSIP Number of Certificates:
Original Sales Balance: 120,000,000
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Statement to Certificateholders (Page 1 of 2)
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Distribution Date: 4/15/97
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INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1,000 ORIGINAL PRINCIPAL AMOUNT)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed 7.059722
Investor Certificate Interest Shortfall Distributed 0.000000
Remaining Unpaid Investor Certificate Interest Shortfall 0.000000
Managed Amortization Period ? (Yes=1; No=0) 1
Investors Certificate Principal Distributed 0.000000
Principal Distribution Amount 0.000000
Maximum Principal Payment 36.566407
Alternative Principal Payment 0.000000
Principal Collections less Additional Balances -13.203404
Investor Loss Amount Distributed to Investors 0.000000
Accelerated Principal Distribution Amount 0.000000
Credit Enhancement Draw Amount 0.00
Total Amount Distributed to Certificateholders (P & I) 7.059722
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance 120,000,000.00
Ending Investor Certificate Balance 120,000,000.00
Beginning Invested Amount 120,000,000.00
Ending Invested Amount 120,000,000.00
Investor Certificateholder Floating Allocation Percentage 98.0000%
Pool Factor 1.000000
Liquidation Loss Amount for Liquidated Loans 0.00
Unreimbursed Liquidation Loss Amount 0.00
C. POOL INFORMATION
Beginning Pool Balance 122,448,980.48
Ending Pool Balance 124,033,388.98
Servicer Removals form the Trust (Section 2.06) 0.00
Servicing Fee 51,020.41
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate 5.525000%
LIBOR Rate 5.375000%
Maximum Rate 6,505205%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts 8
Trust Balances 196,966.93
Delinquent 60-89 days
No. of Accounts 0
Trust Balances 0.00
Delinquent 90+ days
No. of Accounts 0
Trust Balances 0.00
Delinquent 9+ Months
No. of Accounts 0
Trust Balances 0.00
REO
No. of Accounts 0
Trust Balances 0.00
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Countrywide Home Loans, Inc. Date of Report: 4/11/97 Page 12
Countrywide Home Equity Loan Trust - Series 1997-A Time of Report: 12:06 PM
P & S Agreement Date: February 25, 1997
Original Settlement Date: February 28, 1997
CUSIP Number of Certificates:
Original Sales Balance: 120,000,000
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Statement to Certificateholders (Page 2 of 2)
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Distribution Date: 4/15/00
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IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed
this 10th day of April, 1997
Countrywide Home Loans Formerly Known as Countrywide Funding Corporation
as Servicer
/s/
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Sam Ilagan
Vice-President
Distribution List:
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Frank Skibo - FSA Lupe Montero - Countrywide Home Loans
Barbara Grosse - First National Bank of Chicago Richard Marron - Countrywide Home Loans
Ora Melamed - Prudential Securities Dave Walker - Countrywide Home Loans
Lina Hsu - Prudential Securities
Julie Uhlig - Moody's Investors Service
Gail Brennan - Standard & Poor's Corp.
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