Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): 8/25/97
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 August 25 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 August 25, 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: August 25, 1997
CSMBS, INC.
By: /s/ Kelly A Sheahan
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
Payment Date: 08/25/97
-------------------------------------------------
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-1 131,243,200.00 7.125000% 5,554,653.78 779,256.50 6,333,910.28 125,688,546.22 0.00
A-2 32,810,800.00 9.000000% 1,388,663.45 246,081.00 1,634,744.45 31,422,136.55 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 8,676,000.00 7.500000% 33,675.00 54,225.00 87,900.00 8,642,325.00 0.00
A-6 5,388,000.00 7.500000% 0.00 0.00 0.00 5,421,675.00 33,675.00
A-7 70,875,000.00 7.500000% 0.00 442,968.75 442,968.75 70,875,000.00 0.00
PO 351,095.76 N/A 307.65 N/A 307.65 350,788.11 0.00
X 318,523,455.23 0.479640% N/A 127,313.95 127,313.95 311,598,371.62 0.00
A-R 100.00 7.500000% 100.00 0.82 100.82 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------
B-1 4,375,675.00 7.500000% 2,819.06 27,347.97 30,167.03 4,372,855.94 0.00
B-2 4,375,140.00 7.500000% 2,818.71 27,344.63 30,163.34 4,372,321.29 0.00
B-3 2,100,068.00 7.500000% 1,352.98 13,125.43 14,478.41 2,098,715.02 0.00
B-4 1,050,034.00 7.500000% 676.49 6,562.71 7,239.20 1,049,357.51 0.00
B-5 1,050,034.00 7.500000% 676.49 6,562.71 7,239.20 1,049,357.51 0.00
B-6 1,050,034.04 7.500000% 676.49 6,562.71 7,239.20 1,049,357.55 0.00
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals 350,011,180.80 6,986,420.10 2,279,014.68 9,265,434.78 343,058,435.70 33,675.00
- ------------------------------------------------------------------------------------------------------------------------
</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: 08/25/97
-------------------------------------------------
COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-5
-------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Aggregate Scheduled Principal 225,533.78
Aggregate Prepayment Amount 6,727,211.32
Aggregate Liquidation Proceeds 0.00
Pool Stated Pricipal Balance after distribution 343,058,435.70
- --------------------------------------------------------------------------------
FEES & ADVANCES
- --------------------------------------------------------------------------------
Monthly master servicer fees paid 72,918.99
Advances included in this distribution 0.00
Aggregate Advances Outstanding 0.00
- --------------------------------------------------------------------------------
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 3,500,111.81
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
1 mo. 0 0.00
2 mos. 0 0.00
3+MOS. 0 0.00
In foreclosure 0 0.00
Totals 0 0.00
- --------------------------------------------------------------------------------
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 95.91723006% 100.00000000%
Subordinate 4.08276994% 0.00000000%
- --------------------------------------------------------------------------------
<PAGE>
Payment Date: 08/25/97
-------------------------------------------------
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 0.479640% 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 42.32336442 5.93750000 957.676636
A-2 42.32336442 7.50000000 957.676636
A-3 0.00000000 6.25000000 1000.000000
A-4 0.00000000 6.25000000 1000.000000
A-5 3.88139696 6.25000000 996.118603
A-6 0.00000000 0.00000000 1006.250000
A-7 0.00000000 6.25000000 1000.000000
PO 0.87625436 N/A 999.123062
X N/A 0.39970040 978.258796
- ----------------- --------------------------------------
Residual A-R 1000.00000000 8.20000000 0.000000
- ----------------- --------------------------------------
Subordinate B-1 0.64425642 6.25000000 999.355744
B-2 0.64425642 6.25000000 999.355744
B-3 0.64425642 6.25000000 999.355744
B-4 0.64425642 6.25000000 999.355744
B-5 0.64425642 6.25000000 999.355744
B-6 0.64425644 6.25000024 999.355782
- ----------------- --------------------------------------
- ----------------- ======================================
Total 25.02871564 8.16452625 1229.000248
- ----------------- ======================================
