______________________________________________________________________
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) August 26, 1996
GREENWICH CAPITAL ACCEPTANCE, INC., as depositor under a
certain Pooling and Servicing Agreement, dated as of July
1, 1996, providing for the issuance of Greenwich Capital
Acceptance, Inc. Mortgage Pass-Through Certificates,
Series 1996-CHL1
GREENWICH CAPITAL ACCEPTANCE, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-80740 61199884
- ---------------------------- ----------- ------------------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
600 Steamboat Road
Greenwich, Connecticut 06830
- ---------------------- ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (203) 625-2700
----- --------
_____________________________________________________________________
Item 5. Other Events.
- ---- ------------
On the August 26, 1996 and September 25, 1996 Distribution Dates, The
Bank of New York, as trustee (the "Series 1996-CHL1 Trustee") of the
Greenwich Capital Acceptance, Inc. Mortgage Pass-Through Certificates, Series
1996-CHL1 (the "Series 1996-CHL1 Trust"), distributed to holders (the "Series
1996-CHL1 Certificateholders") of the Series 1996-CHL1 Trust's Class A,
Class B-IO and Class R Certificates interest and principal totaling
$3,260,878.37 and $2,793,490.16, respectively, for such dates pursuant to a
Pooling and Servicing Agreement dated as of July 1, 1996 (the "Pooling and
Servicing Agreement") among Greenwich Capital Acceptance, Inc., as depositor,
Countrywide Home Loans, Inc., as seller and servicer, and the Series
1996-CHL1 Trustee. All capitalized terms not defined herein shall have the
meanings assigned to them in the Pooling and Servicing Agreement.
Pursuant to the Pooling and Servicing Agreement, the Series 1996-CHL1
Trustee distributed statements, which are annexed hereto as Exhibit 1 and
Exhibit 2, to the Series 1996-CHL1 Certificateholders.
Item 7. Financial Statements, Pro Forma Financial
- ---- -----------------------------------------
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
1. Greenwich Capital Acceptance, Inc. Mortgage Pass-Through
Certificates, Series 1996-CHL1, Statement to Certificateholders
dated August 25, 1996.
2. Greenwich Capital Acceptance, Inc. Mortgage Pass-Through
Certificates, Series 1996-CHL1, Statement to Certificateholders
dated September 25, 1996.
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 hereunto duly authorized.
GREENWICH CAPITAL ACCEPTANCE, INC.
By: /s/ Brian D. Bernard
-------------------------
Brian D. Bernard
Vice President
Dated: October 18, 1996
Exhibit Index
-------------
Exhibit Page
- ------- ----
1. Greenwich Capital Acceptance, Inc. Mortgage Pass-Through
Certificates, Series 1996-CHL1, Statement to Certificateholders
dated August 25, 1996. 6
2. Greenwich Capital Acceptance, Inc. Mortgage Pass-Through
Certificates, Series 1996-CHL1, Statement to Certificateholders
dated September 25, 1996. 9
EXHIBIT 1
THE
BANK OF Payment Date: 8/25/96
NEW YORK Accrual Period: 7/31/96 thru 8/24/96
101 Barclay Street, 12E
New York, NY 10286
Attn: Douglas Badaszewski, MBS Unit
(212) 815-2793
<TABLE> GREENWICH CAPITAL ACCEPTANCE, INC.
Mortgage Pass-Through Certificates, Series 1996-CHL1
Countrywide Home Loans, as Servicer
<CAPTION>
Class Current Payment Information Factors per $1,000
Information Beg End
Certificate/ Pass Principal Interest Total Certificate/ Principal
Type Name Notional Bal. Thru Rate Dist. Amt. Dist. Amt. Dist. Notional Bal. Dist.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A 187,965,310.34 5.818750% 2,470,967.21 789,911.16 3,260,878.37 185,494,343.13 13.1458683
Subordinate B-I0 187,965,310.34 3.165104% 0.00 0.00 0.00 186,111,643.26 .000000
Residual R 0.00 0.000000% n/a 0.00 0.00 0.00 .000000
Totals - 187,965,310.34 - 2,470,967.21 789,911.16 3,260,878.37 185,494,343.13 13.1458683
(table continued)
Class Information Current Payment Information Factors per $1,000
Interest Ending
Type Name Dist. Cert. Bal.
<S> <C> <C> <C>
Senior A 4.2024305 986.8541317
Subordinate B-10 .0000000 990.1382490
Residual R .0000000 .0000000
Totals 4.2024305 1,976.9923808
</TABLE>
<TABLE>
<CAPTION>
Class Losses and Unpaid Amounts
Information Original Certificate Information Unpaid
Carry Forward Interest Interest
Class Code Name Cert. Bal. Pass Thru Cusips Amount Shortfalls Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C>
A 187,965,310.34 5.818750% 396782ES9 0.00 0.00 0.00
B-IO 187,965,310.34 3.165104% n/a n/a 0.00 0.00
R 0.00 0.000000% n/a n/a n/a n/a
Totals - 187,965,310.34 - - - - -
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. ENDING COLLATERAL INFORMATION
Sec. 4.05
<S> <C>
Aggregate stated principal balance 187,965,310.34
Loan count 1758
Weighted average remaining term 356.00
Weighted average coupon rate 9.483854%
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. FEES & ADVANCES
Sec. 4.05
<S> <C>
Master servicer fees 0.00
Advances (this period) 0.00
Recoveries (this period) 0.00
Outstanding advances 0.00
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. OTHER INFORMATION
Sec. 4.05
<S> <C>
Available funds 3,339,197.25
Insured payments 0.00
Aggregate prepayments 1,753,751.40
Required subordination amount 5,638,959.31
Subordination deficit 0.00
Class B-IO optimal interest dist amount 495,774.76
Subordination increase amount 617,300.13
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. DELINQUENCY INFORMATION (as of the Due Date)
Sec. 4.05
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
<S> <C> <C>
31-60 days 29 3,334,752.58
61-90 days 5 553,226.89
91+ days 1 66,500.00
In foreclosure 4 416,518.40
Totals 39 4,370,997.87
== ============
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. REO INFORMATION
Sec. 4.05 REO Date Loan Number Ending Stated Balance
-------- -------------------- ---------------------
<S> <C> <C>
-- 0.00
-- 0.00
-- 0.00
-- 0.00
Totals 0 0.00
= ====
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. Liquidated Loan Information
Sec. 4.05
Loan Number Stated Principal Balance Realized Loss
----------- ------------------------ ----------------
<S> <C> <C>
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
Totals 0 0.00
= ====
</TABLE>
EXHIBIT 2
THE
BANK OF Payment Date: 9/25/96
NEW YORK Accrual Period: 8/26/96 thru 9/25/96
101 Barclay Street, 12E
New York, NY 10286
Attn: Douglas Badaszewski, MBS Unit
(212) 815-2793
<TABLE>
GREENWICH CAPITAL ACCEPTANCE, INC.
Mortgage Pass-Through Certificates, Series 1996-CHL1
Countrywide Home Loans, as Servicer
<CAPTION>
Class Information Current Payment Information Factors per $1,000
Beg
Certificate/ Pass Principal Interest Total End Certificate/ Principal
Type Name Notional Bal. Thru Rate Dist. Amt. Dist. Amt. Dist. Notional Bal. Dist.
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A 185,494,343.13 5.787500% 1,898,866.40 894,623.87 2,793,490.16 183,595,476.73 10.1022172
Subordinate B-10 186,111,643.26 3.032379% 0.00 0.00 184,686,142.35 .0000000
Residual R 0.00 0.000000% n/a 0.00 0.00 0.00 .0000000
Totals - 185,494,343.13 - 1,898,866.40 894,623.76 2,793,490.16 183,595,476.73 10.1022172
(table continued)
Class Information Current Payment Information Factors per $1,000
Type Name Interest Ending
Dist Cert. Bal
<S> <C> <C> <C>
Senior A 4.75951 976.7519145
Subordinate B-10 .000000 982.5543980
Residual R .000000 .0000000
Totals 4.7595152 14.8617325
</TABLE>
<TABLE>
<CAPTION>
Class
Information Original Certificate Information Losses and Unpaid Amounts
Carry
Class Forward Interest Unpaid Interest
Code Name Cert. Bal. Pass Thru Cusips Amount Shortfalls Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C>
A 187,965,310.34 5.818750% 396782ES9 0.00 0.00 0.00
B-IO 187,965,310.34 3.165104% n/a n/a 0.00 0.00
R 0.00 0.000000% n/a n/a n/a n/a
Totals - 187,965,310.34 - - - - -
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. ENDING COLLATERAL INFORMATION
Sec. 4.05
<S> <C>
Aggregate stated principal balance 186,111,643.26
Loan count 1758
Weighted average remaining term 355
Weighted average coupon rate 9.489879%
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. FEES & ADVANCES
Sec. 4.05
<S> <C>
Master servicer fees 76,884.22
Advances (this period) 0.00
Recoveries (this period) 0.00
Outstanding advances 0.00
====
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. OTHER INFORMATION
Sec. 4.05
<S> <C>
Available funds 2,896,652.74
Insured Payments 0.00
Aggregate prepayments 1,325,058.44
Required subordination amount 5,638,959.31
Subordination deficit 0.00
Class B-IO optimal interest dist amount 470,300.85
Subordination increase amount 473,365.49
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. DELINQUENCY INFORMATION (as of the Due Date)
Sec. 4.05
Period Loan Count Ending Stated Balance
------------ ---------------- --------------------------
<S> <C> <C>
31-60 days 38 3,552,937.96
61-90 days 11 1,146,474.51
91+ days 2 187,107.21
In foreclosure 5 545,327.90
Totals 56 5,431,847.58
== ============
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. REO INFORMATION
Sec. 4.05
REO Date Loan Number Ending Stated Balance
-------------- ------------------ --------------------------
<S> <C> <C>
-- 0.00
-- 0.00
-- 0.00
-- 0.00
Totals 0 0.00
= ====
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. Liquidated Loan Information
Sec. 4.05
Stated Principal
Loan Number Balance Realized Loss
---------------- ---------------------- ---------------------------
<S> <C> <C>
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
Totals 0 0.00
= ====
</TABLE>
