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): 10/27/97
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass Through Certificates, Series 97-5)
(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 97-5
On October 27 1997, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1997-5, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of July 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
1997-5 relating to the distribution date of October 27, 1997 prepared by
The Bank of New York, as Trustee under the Pooling and Servicing Agreement
dated as of July 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: October 27, 1997
CSMBS, INC.
By: /s/ Kelly A Sheahan
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
Payment Date: 10/27/97
-------------------------------------------------
COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-5
-------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Ending Cert./ Unpaid / Deferred
Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Notional Bal. Interest
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 120,529,728.36 7.125000% 2,684,124.71 715,645.26 3,399,769.97 117,845,603.65 0.00
A-2 30,132,432.09 9.000000% 671,031.18 225,993.24 897,024.42 29,461,400.91 0.00
A-3 64,782,000.00 7.500000% 0.00 404,887.50 404,887.50 64,782,000.00 0.00
A-4 21,884,000.00 7.500000% 0.00 136,775.00 136,775.00 21,884,000.00 0.00
A-5 8,608,439.53 7.500000% 34,097.25 53,802.75 87,900.00 8,574,342.28 0.00
A-6 5,455,560.47 7.500000% 0.00 0.00 0.00 5,489,657.72 34,097.25
A-7 70,875,000.00 7.500000% 0.00 442,968.75 442,968.75 70,875,000.00 0.00
PO 350,496.20 N/A 294.72 N/A 294.72 350,201.48 0.00
X 305,165,862.08 0.469694% N/A 119,445.49 119,445.49 301,826,867.62 0.00
A-R 0.00 7.500000% 0.00 0.01 0.01 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
B-1 4,369,990.26 7.500000% 2,923.48 27,312.44 30,235.92 4,367,066.78 0.00
B-2 4,369,455.96 7.500000% 2,923.13 27,309.10 30,232.23 4,366,532.83 0.00
B-3 2,097,339.66 7.500000% 1,403.10 13,108.37 14,511.47 2,095,936.56 0.00
B-4 1,048,669.83 7.500000% 701.55 6,554.19 7,255.74 1,047,968.28 0.00
B-5 1,048,669.83 7.500000% 701.55 6,554.19 7,255.74 1,047,968.28 0.00
B-6 1,048,669.87 7.500000% 701.55 6,554.19 7,255.74 1,047,968.28 0.00
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals 336,600,452.06 3,398,902.22 2,186,910.46 5,585,812.68 333,235,647.09 34,097.25
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
- ---------------------------------
Remaining
Class Code Name Unpaid Interest
- ---------------------------------
A-1 0.00
A-2 0.00
A-3 0.00
A-4 0.00
A-5 0.00
A-6 0.00
A-7 0.00
PO 0.00
X 0.00
A-R 0.00
- ---------------------------------
B-1 0.00
B-2 0.00
B-3 0.00
B-4 0.00
B-5 0.00
B-6 0.00
- ---------------------------------
- ---------------------------------
Totals 0.00
- ---------------------------------
<PAGE>
Payment Date: 10/27/97
-------------------------------------------------
COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-5
-------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Aggregate Scheduled Principal 225,215.00
Aggregate Prepayment Amount 3,139,589.97
Aggregate Liquidation Proceeds 0.00
Pool Stated Pricipal Balance after distribution 333,235,647.09
- --------------------------------------------------------------------------------
FEES & ADVANCES
- --------------------------------------------------------------------------------
Monthly master servicer fees paid 65,990.75
Advances included in this distribution 17,264.67
Aggregate Advances Outstanding 23,672.69
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Net realized losses (this period) 0.00
Cumulative losses (from Cut-Off) 0.00
Bankruptcy Loss Coverage Amount 50,000.00
Fraud Loss Coverage Amount 7,000,224.00
Special Hazard Loss Coverage Amount 3,366,004.52
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
1 mo. 7 1,389,897.84
2 mos. 3 830,441.70
3+MOS. 0 0.00
In foreclosure 0 0.00
Totals 10 2,220,339.54
- --------------------------------------------------------------------------------
TOTAL REO INFORMATION
- --------------------------------------------------------------------------------
Total Number of REO Properties 0
Total Principal Balance of REO Properties 0.00
- --------------------------------------------------------------------------------
NEW REO INFORMATION
(Mortgage Loans that became REO Properties during the preceeding calendar month)
- --------------------------------------------------------------------------------
Loan Number Stated Principal Balance
----------- ------------------------
0 0.00
- --------------------------------------------------------------------------------
Aggregate Certificate Information for the following distribution date
- --------------------------------------------------------------------------------
Class Aggregate Aggregate
Type Percentages Prepay. Pct.
- --------------------------------------------------------------------------------
Senior 95.80232743% 100.00000000%
Subordinate 4.19767257% 0.00000000%
- --------------------------------------------------------------------------------
<PAGE>
Payment Date: 10/27/97
-------------------------------------------------
COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-5
-------------------------------------------------
Original Certificate Information
Class Information
------------------------------------
- ------------------- Original Pass Thru Cusip
Type Name Cert. Bal. Rate Numbers
- -------------------------------------------------------
Senior A-1 131,243,200.00 7.125000% 1266914D3
A-2 32,810,800.00 9.000000% 1266914E1
A-3 64,782,000.00 7.500000% 1266914F8
A-4 21,884,000.00 7.500000% 1266914G6
A-5 8,676,000.00 7.500000% 1266914H4
A-6 5,388,000.00 7.500000% 1266914J0
A-7 70,875,000.00 7.500000% 1266914K7
PO 351,096.00 N/A 1266914L5
X 318,523,455.00 0.472427% 1266914M3
- -------------------------------------------------------
Residual A-R 100.00 7.500000% 1266914N1
- -------------------------------------------------------
Subordinate B-1 4,375,675.00 7.500000% 1266914P6
B-2 4,375,140.00 7.500000% 1266914Q4
B-3 2,100,068.00 7.500000% 1266914R2
B-4 1,050,034.00 7.500000% 1266915F7
B-5 1,050,034.00 7.500000% 1266915G5
B-6 1,050,034.00 7.500000% 1266915H3
- -------------------------------------------------------
- -------------------------------------------------------
Total 279,136,181.00
- -------------------------------------------------------
Factors per $1,000
Class Information
====================================
- ----------------- Principal Interest Ending
Type Name Dist. Dist. Cert. Bal
- ----------------- ====================================
Senior A-1 20.45153356 5.45281784 897.917787
A-2 20.45153356 6.88776990 897.917787
A-3 0.00000000 6.25000000 1000.000000
A-4 0.00000000 6.25000000 1000.000000
A-5 3.93006604 6.20133092 988.282881
A-6 0.00000000 0.00000000 1018.867432
A-7 0.00000000 6.25000000 1000.000000
PO 0.83942625 N/A 997.452211
X N/A 0.37499747 947.581294
- ----------------- ------------------------------------
Residual A-R 0.00000000 0.00000000 0.000000
- ----------------- ------------------------------------
Subordinate B-1 0.66812182 6.24188020 998.032710
B-2 0.66812182 6.24188020 998.032710
B-3 0.66812182 6.24188020 998.032710
B-4 0.66812182 6.24188020 998.032710
B-5 0.66812182 6.24188020 998.032710
B-6 0.66812031 6.24188044 998.032748
- ----------------- ------------------------------------
- ----------------- ====================================
Total 12.17650184 7.83456467 1193.810297
- ----------------- ====================================
