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): 12/26/97
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 December 26 1997, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1997-6, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of September 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
1997-6 relating to the distribution date of December 26, 1997 prepared by
The Bank of New York, as Trustee under the Pooling and Servicing Agreement
dated as of September 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: December 26, 1997
CSMBS, INC.
By: /s/ Kelly A Sheahan
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
Payment Date: 12/26/97
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COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-5
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<TABLE>
<CAPTION>
Class Information Current Payment Information
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Beginning Pass Thru Principal Interest Total Ending Cert./ Unpaid/Deferred Remaining
Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Notional Bal. Interest Unpaid Interest
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 113,056,664.51 7.125000% 3,580,951.49 671,273.95 4,252,225.44 109,475,713.02 0.00 0.00
A-2 28,264,166.13 9.000000% 895,237.87 211,981.25 1,107,219.12 27,368,928.26 0.00 0.00
A-3 64,782,000.00 7.500000% 0.00 404,887.50 404,887.50 64,782,000.00 0.00 0.00
A-4 21,884,000.00 7.500000% 0.00 136,775.00 136,775.00 21,884,000.00 0.00 0.00
A-5 8,540,031.92 7.500000% 34,524.80 53,375.20 87,900.00 8,505,507.12 0.00 0.00
A-6 5,523,968.08 7.500000% 0.00 0.00 0.00 5,558,492.88 34,524.80 0.00
A-7 70,875,000.00 7.500000% 0.00 442,968.75 442,968.75 70,875,000.00 0.00 0.00
PO 349,910.25 N/A 287.99 N/A 287.99 349,622.26 0.00 0.00
X 295,857,834.75 0.465752% N/A 114,830.36 114,830.36 291,401,694.96 0.00 0.00
A-R 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 0.00
B-1 4,364,121.12 7.500000% 2,979.70 27,275.76 30,255.45 4,361,141.42 0.00 0.00
B-2 4,363,587.53 7.500000% 2,979.33 27,272.42 30,251.76 4,360,608.20 0.00 0.00
B-3 2,094,522.81 7.500000% 1,430.08 13,090.77 14,520.85 2,093,092.73 0.00 0.00
B-4 1,047,261.41 7.500000% 715.04 6,545.38 7,260.42 1,046,546.37 0.00 0.00
B-5 1,047,261.41 7.500000% 715.04 6,545.38 7,260.42 1,046,546.37 0.00 0.00
B-6 1,047,261.45 7.500000% 715.04 6,545.38 7,260.42 1,046,546.41 0.00 0.00
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Totals 327,239,756.61 4,520,536.39 2,123,367.10 6,643,903.49 322,753,745.02 34,524.80 0.00
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</TABLE>
<PAGE>
Payment Date: 12/26/97
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COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates, Series 1997-2
-------------------------------------------------
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COLLATERAL INFORMATION
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Aggregate Scheduled Principal 223,461.59
Aggregate Prepayment Amount 4,262,550.00
Aggregate Liquidation Proceeds 0.00
Pool Stated Pricipal Balance after distribution 322,753,745.02
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FEES & ADVANCES
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Monthly master servicer fees paid 64,525.28
Advances included in this distribution 23,376.63
Aggregate Advances Outstanding 26,201.67
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LOSSES & INSURANCE COVERAGES
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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 Hazrad Loss Coverage Amount 3,272,397.57
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DELINQUENCY INFORMATION
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Period Loan Count Ending Stated Balance
------ ---------- ---------------------
1 mo. 12 2,751,550.73
2 mos. 0 0.00
3+MOS. 1 179,342.64
In foreclosure 1 182,224.54
Totals 14 3,113,117.91
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TOTAL REO INFORMATION
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Total Number of REO Properties 0
Total Principal Balance of REO Properties 0.00
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NEW REO INFORMATION
(Mortgage Loans that became REO Properties during the preceeding calendar month)
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Loan Number Stated Principal Balance
----------- ------------------------
0 0.00
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Aggregate Certificate Information for the following distribution date
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Class Aggregate Aggregate
Type Percentages Prepay. Pct.
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Senior 95.67174223% 100.00000000%
Subordinate 4.32825777% 0.00000000%
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<PAGE>
Payment Date: 12/26/97
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 0.465752% 1266914M3
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Residual A-R 100.00 7.500000% 1266914N1
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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
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Principal Interest Ending
Dist. Dist. Cert. Bal
- --------------------------------------------------------------------------------
27.28485357 5.11473315 834.143887
27.28485357 6.46071556 834.143887
0.00000000 6.25000000 1000.000000
0.00000000 6.25000000 1000.000000
3.97934538 6.15205158 980.348907
0.00000000 0.00000000 1031.643074
0.00000000 6.25000000 1000.000000
0.82026340 N/A 995.802461
N/A 0.36050832 914.851608
0.00000000 0.02953333 0.000000
0.68096861 6.23349700 996.678551
0.68096861 6.23349700 996.678551
0.68096861 6.23349700 996.678551
0.68096861 6.23349700 996.678551
0.68096861 6.23349700 996.678551
0.68096863 6.23349723 996.678589
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Total 16.19473468 7.60692179 1156.259084
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