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-H)
(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-H
On December 26 1997, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1997-H, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of August 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-H 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 August 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
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-H
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-8
-------------------------------------------------
<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 2757 A-1 22,874,500.33 6.75000% 4,840,553.39 128,669.06 4,969,222.45 0.00 0.00
2758 A-2 14,360,104.04 10.00000% 1,015,666.47 119,667.53 1,135,334.00 0.00 0.00
2758 A-2-1 11,228,232.04 10.00000% 1,013,737.18 93,568.60 1,107,305.78 0.00 0.00
2758 A-2-2 3,131,872.00 10.00000% 1,929.28 26,098.93 28,028.22 0.00 0.00
2759 A-3 87,754,811.00 7.00000% 0.00 511,903.06 511,903.06 0.00 0.00
2760 A-4 37,837,270.00 8.00000% 0.00 252,248.47 252,248.47 0.00 0.00
2761 A-5 36,868,000.00 7.00000% 0.00 215,063.33 215,063.33 0.00 0.00
2762 A-6 7,233,000.00 7.00000% 0.00 42,192.50 42,192.50 0.00 0.00
2763 A-7 14,553,000.00 7.25000% 0.00 87,924.38 87,924.38 0.00 0.00
2764 A-8 5,238,000.00 7.25000% 0.00 31,646.25 31,646.25 0.00 0.00
2765 A-9 36,534,352.48 7.25000% 22,505.74 220,728.38 243,234.12 0.00 0.00
2766 A-10 34,450,587.02 7.00000% 21,222.11 200,961.76 222,183.87 0.00 0.00
2767 A-11 6,959,317.62 7.00000% 1,470,008.07 40,596.02 1,510,604.09 0.00 0.00
2768 A-12 26,233,175.00 7.00000% 0.00 153,026.85 153,026.85 0.00 0.00
2769 A-13 26,225,000.00 7.00000% 0.00 152,979.17 152,979.17 0.00 0.00
2771 X 378,338,708.63 0.92992% N/A 293,185.97 293,185.97 0.00 0.00
2770 PO 23,824.45 N/A 21.90 N/A 21.90 0.00 N/A
Residual 2772 A-R 0.00 7.25000% 0.00 0.00 0.00 0.00 0.00
Subordinate 2773 B-1 10,842,016.81 7.25000% 6,678.85 65,503.85 72,182.70 0.00 0.00
2774 B-2 4,928,144.09 7.25000% 3,035.81 29,774.20 32,810.02 0.00 0.00
2775 B-3 2,956,686.81 7.25000% 1,821.37 17,863.32 19,684.68 0.00 0.00
2776 B-4 1,971,656.92 7.25000% 1,214.57 11,912.09 13,126.67 0.00 0.00
2777 B-5 985,643.79 7.25000% 607.17 5,954.93 6,562.10 0.00 0.00
2778 B-6 1,971,285.58 7.25000% 1,214.34 11,909.85 13,124.19 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------
Totals - - 380,800,375.92 - 7,384,549.80 2,593,710.98 9,978,260.78 - -
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
Class Information ------------------------------------
- --------------------------- Ending Cert./ Unpaid
Type Class Code Name Notional Bal. Interest
- ---------------------------------------------------------------
Senior 2757 A-1 18,033,946.93 0.00
2758 A-2 13,344,437.57 0.00
2758 A-2-1 10,214,494.85 0.00
2758 A-2-2 3,129,942.72 0.00
2759 A-3 87,754,811.00 0.00
2760 A-4 37,837,270.00 0.00
2761 A-5 36,868,000.00 0.00
2762 A-6 7,233,000.00 0.00
2763 A-7 14,553,000.00 0.00
2764 A-8 5,238,000.00 0.00
2765 A-9 36,511,846.73 0.00
2766 A-10 34,429,364.91 0.00
2767 A-11 5,489,309.55 0.00
2768 A-12 26,233,175.00 0.00
2769 A-13 26,225,000.00 0.00
2771 X 370,956,363.62 0.00
2770 PO 23,802.55 0.00
Residual 2772 A-R 0.00 0.00
Subordinate 2773 B-1 10,835,337.96 0.00
2774 B-2 4,925,108.27 0.00
2775 B-3 2,954,865.45 0.00
2776 B-4 1,970,442.35 0.00
2777 B-5 985,036.62 0.00
2778 B-6 1,970,071.24 0.00
- ---------------------------------------------------------------
Totals - - 373,392,023.57
- ---------------------------------------------------------------
<PAGE>
Payment Date: 12/26/97
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-H
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-8
-------------------------------------------------
<TABLE>
<CAPTION>
Current Payment Information
Class Information Factors per $1,000
--------------------------------------------------------------------------------------
- --------------------------- Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Senior 2757 A-1 32,120,000.00 6.750000% 1266916E9 150.702160 4.005886 561.455384
2758 A-2 16,301,979.00 10.000000% 1266916F6 62.303262 7.340675 818.577767
2758 A-2-1 13,164,479.00 10.000000% 1266916F6 77.005492 7.107657 775.913339
2758 A-2-2 3,137,500.00 10.000000% 1266916F6 0.614911 8.318385 997.591305
2759 A-3 87,754,811.00 7.000000% 1266916G4 0.000000 5.833333 1,000.000000
2760 A-4 37,837,270.00 8.000000% 1266916H2 0.000000 6.666667 1,000.000000
2761 A-5 36,868,000.00 7.000000% 1266916J8 0.000000 5.833333 1,000.000000
2762 A-6 7,233,000.00 7.000000% 1266916K5 0.000000 5.833333 1,000.000000
2763 A-7 14,553,000.00 7.250000% 1266916L3 0.000000 6.041667 1,000.000000
2764 A-8 5,238,000.00 7.250000% 1266916M1 0.000000 6.041667 1,000.000000
2765 A-9 36,600,005.00 7.250000% 1266916N9 0.614911 6.030829 997.591305
2766 A-10 34,512,495.00 7.000000% 1266916P4 0.614911 5.822870 997.591305
2767 A-11 9,767,046.00 7.000000% 1266916Q2 150.506926 4.156428 562.023517
2768 A-12 26,233,175.00 7.000000% 1266916R0 0.000000 5.833333 1,000.000000
2769 A-13 26,225,000.00 7.000000% 1266916S8 0.000000 5.833333 1,000.000000
2771 X 392,498,265.00 0.929916% 1266916X7 0.000000 0.746974 945.115932
2770 PO 23,885.00 N/A 1266916W9 0.916873 0.000000 996.547871
Residual 2772 A-R 100.00 7.250000% 1266916Y5 0.000000 0.000000 0.000000
Subordinate 2773 B-1 10,861,500.00 7.250000% 1266916Z2 0.614911 6.030829 997.591305
2774 B-2 4,937,000.00 7.250000% 1266917A6 0.614911 6.030829 997.591305
2775 B-3 2,962,000.00 7.250000% 1266917B4 0.614911 6.030829 997.591305
2776 B-4 1,975,200.00 7.250000% 1266917C2 0.614911 6.030829 997.591305
2777 B-5 987,415.00 7.250000% 1266917D0 0.614911 6.030829 997.591305
2778 B-6 1,974,828.00 7.250000% 1266917E8 0.614911 6.030829 997.59130
- -----------------------------------------------------------------------------------------------------------------
Totals - - 394,941,824.00 - - - - -
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/26/97
-------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-H
RESIDENTIAL ASSET SECURITIZATION TRUST 1997 A-8s
-------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
Aggregate stated principal balance 380,800,374.92 380,800,374.92
Aggregate Loan count 2,703 2,703
Weighted average loan rate 8.173451% 8.173451%
Aggregate prepayment amount 7,149,966.87 7,149,966.87
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
Monthly master servicing fees 39,666.71 39,666.71
Monthly sub servicer fees 79,505.12 79,505.12
Monthly trustee feees 2,856.00 2,856.00
Aggregate advances 61,939.98 61,939.98
Advances this Period 54,144.37 54,144.37
- --------------------------------------------------------------------------------
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 7,899,314.00 7,899,314.00
Special Hazard 3,949,657.00 3,949,657.00
- -------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentages Prepay Pct. End Cert. Bal.
- -------------------------------------------------------------------
Senior 93.668622% 100.000000% 349,751,161.69
Subordinate 6.331378% 0.000000% 23,640,861.88
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 47 6,003,293.23
60 to 90 days 6 827,074.47
91 or more 1 83,204.53
Forclosure 2 275,846.04
Totals: 56 7,189,418.27
- --------------------------------------------------------------------------------
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: 0.00
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
Available remittance amount 9,978,260.78 9,978,260.78
Principal remittance amount 7,384,549.80 7,384,549.80
Interest remittance amount 2,593,710.98 2,593,710.98
Transfer Balance 0.00 0.00
