______________________________________________________________________
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): 11/25/96
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
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_____________________________________________________________________
Item 5. Other Events.
- ---- ------------
On the November 25, 1996 Distribution Date, pursuant to a Pooling and
Servicing Agreement dated as of July 1, 1996 (the "Pooling and Servicing
Agreement") among Greenwich Capital Acceptance, Inc. (the "Registrant"),
as depositor, Countrywide Home Loans, Inc., as seller and servicer, and
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"), the Series 1996-CHL1
Trustee distributed to holders of the Series 1996-CHL1 Trust's Class A,
Class B-IO and Class R Certificates (the "Series 1996-CHL1
Certificateholders") interest and principal totaling $4,280,560.17 for
such Distribution Date. 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 to the Series 1996-CHL1 Certificateholders an
information statement with respect to the aforementioned distribution of
interest and principal. A copy of that statement is annexed hereto as
Exhibit 1.
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 November 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: December 27, 1996
Exhibit Index
-------------
Exhibit Page
- ------- ----
1. Greenwich Capital Acceptance, Inc. Mortgage
Pass-Through Certificates, Series 1996-CHL1,
Statement to Certificateholders dated November
25, 1996. 6
EXHIBIT 1
THE
BANK Payment Date: 11/25/96
NEW YORK Accrual Period: 10/26/96 thru 11/25/96
101 Barclay Street, 12E
New York, NY 10286
Attn: Milton Vescovacci, MBS Unit
(212) 815-2526
<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 180,882,577.58 5.787500% 3,379,099.19 901,460.98 4,280,560.17 177,503,478.39 17.9772490
Subordinate B-I0 182,426.404.93 3.247999% 0.00 0.00 0.00 179,495,956.97 .000000
Residual R 0.00 0.000000% n/a 0.00 0.00 0.00 .000000
Totals - 180,882,577.58 - 3,379,099.19 901,460.98 4,280,560.17 177,503,478.39 17.9772490
(table continued)
Class Information Current Payment Information Factors per $1,000
Interest Ending
Type Name Dist. Cert. Bal.
<S> <C> <C> <C>
Senior A 4.7958901 944.3416877
Subordinate B-10 .0000000 954.9419339
Residual R .0000000 .0000000
Totals 4.7958901 22.7731392
</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 179,495,956.97
Loan count 1713
Weighted average remaining term 354.00
Weighted average coupon rate 9.549594%
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. FEES & ADVANCES
SERVICER INSURER
Sec. 4.05
<S> <C> <C>
Monthly fees 72,888.61 25,625.03
Advances (this period) 76,801.21
Recoveries (this period) 0.00
Outstanding advances 76,801.21
</TABLE>
<TABLE>
<CAPTION>
P&S Ref. OTHER INFORMATION
Sec. 4.05
<S> <C>
Available funds 4,306,185.43
Insured payments 0.00
Aggregate prepayments 2,832,330.98
Required subordination amount 5,638,959.31
Subordination deficit 0.00
Class B-IO optimal interest dist amount 470,066.25
Subordination increase amount 448,651.23
</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 47 5,247,664.72
61-90 days 13 1,271,451.72
91+ days 3 268,349.45
In foreclosure 18 1,849,830.64
Totals 81 8,637,296.53
== ============
</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>
