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): 11/25/97
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass Through Certificates, Series 97-D)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 911009-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
CWMBS, INC.
Mortgage Pass Through Certificates
Series 97-D
On November 25 1997, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1997-D, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of April 1, 1997, among CWMBS, Inc. as Depositor,
Independent National Mortgage Corporation, Seller and Master Servicer and The
Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of CWMBS, Inc., Mortgage Pass Through Certificates Series
1997-D relating to the distribution date of November 25, 1997 prepared by
The Bank of New York, as Trustee under the Pooling and Servicing Agreement
dated as of April 1, 1997.
<PAGE>
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. Dated: November 25, 1997
CSMBS, INC.
By: /s/ Kelly A Sheahan
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
Payment Date: 11/25/97
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-D
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-4
-------------------------------------------------
<TABLE>
<CAPTION>
Current Payment Information
Class Information
---------------------------------------------------------------------------------------------
- ---------------------------- Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior 2452 A-1 17,487,090.22 6.75000% 2,179,869.31 98,364.88 2,278,234.19 0.00 0.00
2453 A-2 24,197,000.00 7.05000% 0.00 142,157.38 142,157.38 0.00 0.00
2454 A-3 17,091,000.00 7.25000% 0.00 103,258.13 103,258.13 0.00 0.00
2455 A-4 19,071,000.00 7.30000% 0.00 116,015.25 116,015.25 0.00 0.00
2456 A-5 18,451,000.00 7.55000% 0.00 116,087.54 116,087.54 0.00 0.00
2457 A-6 13,750,237.00 7.60000% 0.00 87,084.83 87,084.83 0.00 0.00
2458 A-7 8,664,911.00 7.75000% 0.00 55,960.88 55,960.88 0.00 0.00
2459 A-8 15,144,434.63 7.75000% 9,684.48 97,807.81 107,492.29 0.00 0.00
2460 A-9 32,745,814.55 6.05625% 1,245,639.60 165,264.03 1,410,903.64 0.00 0.00
2461 A-10 32,745,814.55 3.44375% n/a 93,973.67 93,973.67 0.00 0.00
2486 A-11 12,053,840.02 7.75000% 19,374.06 77,847.72 97,221.78 0.00 0.00
2487 A-12 18,243,000.00 7.75000% 0.00 117,819.38 117,819.38 0.00 0.00
2462 PO 501,724.96 n/a 395.15 n/a 395.15 0.00 0.00
2463 X 190,503,140.84 0.60945% n/a 96,751.44 96,751.44 0.00 0.00
Residual 2464 A-R 0.00 7.75000% 0.00 0.00 0.00 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
Subordinate 2465 B-1 9,537,050.29 7.75000% 6,098.70 61,593.45 67,692.15 0.00 0.00
2488 B-2 3,179,017.10 7.75000% 2,032.90 20,531.15 22,564.05 0.00 0.00
2489 B-3 2,043,652.78 7.75000% 1,306.86 13,198.59 14,505.46 0.00 0.00
2466 B-4 1,135,363.32 7.75000% 726.04 7,332.55 8,058.59 0.00 0.00
2490 B-5 567,682.16 7.75000% 363.02 3,666.28 4,029.30 0.00 0.00
2491 B-6 1,135,363.22 7.75000% 726.04 7,332.55 8,058.59 0.00 0.00
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
Totals -- -- 214,999,181.24 -- 3,466,216.16 1,482,047.51 4,948,263.68 -- --
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
Class Information
---------------------------
- ---------------------------- Ending Cert./ Unpaid
Type Class Code Name Notional Bal. Interest
- -------------------------------------------------------
Senior 2452 A-1 15,307,220.91 0.00
2453 A-2 24,197,000.00 0.00
2454 A-3 17,091,000.00 0.00
2455 A-4 19,071,000.00 0.00
2456 A-5 18,451,000.00 0.00
2457 A-6 13,750,237.00 0.00
2458 A-7 8,664,911.00 0.00
2459 A-8 15,134,750.15 0.00
2460 A-9 31,500,174.95 0.00
2461 A-10 31,500,174.95 0.00
2486 A-11 12,034,465.95 0.00
2487 A-12 18,243,000.00 0.00
2462 PO 501,329.81 0.00
2463 X 187,058,839.82
Residual 2464 A-R 0.00 0.00
- -------------------------------------------------------
Subordinate 2465 B-1 9,530,951.59 0.00
2488 B-2 3,176,984.19 0.00
2489 B-3 2,042,345.91 0.00
2466 B-4 1,134,637.28 0.00
2490 B-5 567,319.14 0.00
2491 B-6 1,134,637.18 0.00
- -------------------------------------------------------
- -------------------------------------------------------
Totals -- -- 211,532,965.08
- -------------------------------------------------------
<PAGE>
Payment Date: 11/25/97
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-D
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-4
-------------------------------------------------
Current Payment Information
Class Information
---------------------------------------
- -------------------------------- Original Pass Thru Cusip
Type Class Code Name Cert. Bal.(Face) Rate Numbers
- -----------------------------------------------------------------------
Senior 2452 A-1 25,551,000.00 6.750000% 126691W75
2453 A-2 24,197,000.00 7.050000% 126691W83
2454 A-3 17,091,000.00 7.250000% 126691W91
2455 A-4 19,071,000.00 7.300000% 126691X25
2456 A-5 18,451,000.00 7.550000% 126691X33
2457 A-6 13,750,237.00 7.600000% 126691X41
2458 A-7 8,664,911.00 7.750000% 126691X58
2459 A-8 15,200,000.00 7.750000% 126691X66
2460 A-9 37,353,763.00 6.056250% 126691X74
2461 A-10 37,353,763.00 3.443750% 126691X82
2486 A-11 12,165,000.00 7.750000% 126691X90
2487 A-12 18,243,000.00 7.750000% 126691Y24
2462 PO 505,052.96 n/a 126691Y32
2463 X 202,443,177.00 0.609448% 126691Y40
Residual 2464 A-R 100.00 7.750000% 126691Y57
- -----------------------------------------------------------------------
Subordinate 2465 B-1 9,572,042.00 7.750000% 126691Y65
2488 B-2 3,190,681.00 7.750000% 126691Y73
2489 B-3 2,051,151.00 7.750000% 126691Y81
2466 B-4 1,139,529.00 7.750000% n/a
2490 B-5 569,765.00 7.750000% n/a
2491 B-6 1,139,528.90 7.750000% n/a
- -----------------------------------------------------------------------
- -----------------------------------------------------------------------
Totals -- -- 227,905,760.86 -- --
- -----------------------------------------------------------------------
Factors per $1,000
Class Information
-------------------------------------
- -------------------------------- Principal Interest Ending Cert./
Type Class Code Name Dist. Dist. Notional Bal.
- ---------------------------------------------------------------------
Senior 2452 A-1 85.314442 3.849747 599.085003
2453 A-2 0.000000 5.875000 1,000.000000
2454 A-3 0.000000 6.041667 1,000.000000
2455 A-4 0.000000 6.083333 1,000.000000
2456 A-5 0.000000 6.291667 1,000.000000
2457 A-6 0.000000 6.333333 1,000.000000
2458 A-7 0.000000 6.458333 1,000.000000
2459 A-8 0.637137 6.434724 995.707247
2460 A-9 33.347098 4.424294 843.293217
2461 A-10 0.000000 2.515775 843.293217
2486 A-11 1.592607 6.399319 989.269704
2487 A-12 0.000000 6.458333 1,000.000000
2462 PO 0.782392 0.000000 992.628205
2463 X 0.000000 0.477919 924.006640
Residual 2464 A-R 0.000000 0.000000 0.000000
- ---------------------------------------------------------------------
Subordinate 2465 B-1 0.637137 6.434724 995.707247
2488 B-2 0.637137 6.434724 995.707247
2489 B-3 0.637137 6.434724 995.707247
2466 B-4 0.637137 6.434724 995.707247
2490 B-5 0.637137 6.434724 995.707247
2491 B-6 0.637137 6.434724 995.707247
- ---------------------------------------------------------------------
- ---------------------------------------------------------------------
Totals -- -- -- -- --
- ---------------------------------------------------------------------
<PAGE>
Payment Date: 11/25/97
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-D
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-4
-------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregate stated principal balance 214,999,181.24 214,999,181.24
Aggregate Loan count 1,602 1,602
Weighted average loan rate 8.271925% 8.271925%
Aggregate prepayment amount 3,328,677.84 3,328,677.84
- --------------------------------------------------------------------------------
FEES & ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 22,395.75 22,395.75
Monthly sub servicer fees 45,041.46 45,041.46
Monthly trustee feees 1,612.49 1,612.49
Aggregate advances 32,890.22 32,890.22
Advances this Period 29,989.02 29,989.02
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 100,000.00 100,000.00
Fraud 4,558,115.00 4,558,115.00
Special Hazard 1,157,598.00 1,157,598.00
Aggregate Certificate Information
- --------------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentages Prepay Pct. End Cert. Bal.
- --------------------------------------------------------------------------------
Senior 91.795647% 100.000000% 193,444,759.96
- --------------------------------------------------------------------------------
Subordinate 8.204353% 0.000000% 17,586,875.30
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 17 3,585,038.76
60 to 90 days 0 0.00
91 or more 2 181,570.48
Forclosure 4 420,777.16
Totals: 23 4,187,386.40
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balalnce Book Value
-------- ----------- ---------------------- ----------
n/a 0 0 n/a
n/a # 0 n/a
n/a # 0 n/a
n/a # 0 n/a
n/a # 0 n/a
n/a # 0 n/a
n/a # 0 n/a
n/a # 0 n/a
Totals: 0.00 0.00
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 4,948,263.68 4,948,263.68
Principal remittance amount 3,466,216.16 3,466,216.16
Interest remittance amount 1,482,047.52 1,482,047.52
Transfer Balance 0.00 0.00
