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 97-9)
(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 97-9
On December 26 1997, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1997-9, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of November 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
1997-9 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 November 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
Page Number: 1
Payment Date: 12/26/97
CORPORATE TRUST AND AGENCY SERVICES
101 BARCLAY STREET
NEW YORK, NEW YORK 10286
COUNTRYWIDE HOME LOANS
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-9
Current Payment Information
<TABLE>
<CAPTION>
Class Information
----------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt.
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Senior 2994 A 201,420,297.00 7.250000% 925,208.99 1,216,914.29
2995 PO 123,396.00 0.000000% 100.06 n/a
2996 X 195,142,738.00 0.593000% n/a 96,368.49
Residual 2997 A-R 100.00 7.250000% 100.00 0.60
- ------------------------------------------------------------------------------------------------------------------------------------
Subordinate 2998 M 4,243,027.00 7.250000% 2,621.56 25,634.95
2999 B-1 2,651,892.00 7.250000% 1,638.47 16,021.85
3000 B-2 1,803,286.00 7.250000% 1,114.16 10,894.85
3003 B-3 636,454.00 7.250000% 393.23 3,845.24
3001 B-4 636,454.00 7.250000% 393.23 3,845.24
3002 B-5 636,455.00 7.250000% 393.23 3,845.25
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Totals - - 212,151,361.00 - 931,962.94 1,377,370.77
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Total Principal Interest Ending Cert./ Unpaid
Dist. Losses Shortfalls Notional Bal. Interest
- --------------------------------------------------------------------------------
2,142,123.28 0.00 0.00 200,495,088.01 0.00
100.06 0.00 n/a 123,295.94 0.00
96,368.49 n/a 0.00 194,223,403.69 0.00
100.60 0.00 0.00 0.00 0.00
28,256.51 0.00 0.00 4,240,405.44 0.00
17,660.32 0.00 0.00 2,650,253.53 0.00
12,009.01 0.00 0.00 1,802,171.84 0.00
4,238.48 0.00 0.00 636,060.77 0.00
4,238.48 0.00 0.00 636,060.77 0.00
4,238.48 0.00 0.00 636,061.77 0.00
- --------------------------------------------------------------------------------
2,309,333.71 - - 211,219,398.06
- --------------------------------------------------------------------------------
<PAGE>
Page Number: 2
Payment Date: 12/26/97
<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 2994 A 201,420,297.00 7.250000% 12669AEP5 4.593425 6.041667 995.406575
2995 PO 123,396.00 0.000000% 12669AEQ3 0.810906 0.000000 999.189115
2996 X 195,142,738.00 0.593000% 12669AER1 0.000000 0.493836 995.288914
Residual 2997 A-R 100.00 7.250000% 12669AES9 1,000.000000 6.000000 0.000000
- --------------------------------------------------------------------------------------------------------------------
Subordinate 2998 M 4,243,027.00 7.250000% 12669AEY6 0.617850 6.041667 999.382150
2999 B-1 2,651,892.00 7.250000% 12669AET7 0.617850 6.041667 999.382150
3000 B-2 1,803,286.00 7.250000% 12669AEU4 0.617850 6.041667 999.382150
3003 B-3 636,454.00 7.250000% 12669AEV2 0.617850 6.041667 999.382150
3001 B-4 636,454.00 7.250000% 12669AEW0 0.617850 6.041667 999.382150
3002 B-5 636,455.00 7.250000% 12669AEX8 0.617850 6.041667 999.382150
- --------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------
Totals - - 212,151,361.00 - - - - -
- --------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 3
Payment Date: 12/26/97
-------------------------------------------------
COUNTRYWIDE HOME LOANS
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-9
-------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
Aggregate stated principal balance 212,151,361.00 212,151,361.00
Aggregate Loan count 1,890 1,890
Weighted average loan rate 7.790876% 7.790876%
Aggregate prepayment amount 800,877.76 800,877.76
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Monthly master servicing fees 44,198.20 44,198.20
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,591.14 1,591.14
Aggregate advances 12,589.93 12,589.93
Advances this Period 12,589.93 12,589.93
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts
Bankruptcy 130,000.00 130,000.00
Fraud 4,243,027.00 4,243,027.00
Special Hazard 2,121,514.00 2,121,514.00
Aggregate Certificate Information
- -----------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentages Prepay Pct. End Cert. Bal.
- -----------------------------------------------------------------
Senior 94.997090% 100.000000% 200,618,383.95
Subordinate 5.002910% 0.000000% 10,601,014.11
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 15 1,692,249.72
60 to 90 days 0 0.00
91 or more 0 0.00
Forclosure 0 0.00
Totals: 15 1,692,249.72
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balalnce Book Value
-------- ----------- ---------------------- ----------
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
n/a # 0.00 n/a
Totals: 0.00 0.00
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawl Total/Ending Bal.
Available remittance amount 2,309,333.71 2,309,333.71
Principal remittance amount 931,962.94 931,962.94
Interest remittance amount 1,377,370.77 1,377,370.77
