CMC SECURITIES CORP IV
305B2, 1997-10-29
ASSET-BACKED SECURITIES
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<PAGE>   1


                     SECURITIES AND EXCHANGE COMMISSION


                           WASHINGTON, D.C. 20549

                               ---------------

                                  FORM T-1

              Statement of Eligibility and Qualification Under the
                  Trust Indenture Act of 1939 of a Corporation
                          Designated to Act as Trustee


                         U.S. BANK NATIONAL ASSOCIATION
                     F.K.A. FIRST BANK NATIONAL ASSOCIATION
              (Exact name of Trustee as specified in its charter)

       United States                                           41-0417860
 (State of Incorporation)                                   (I.R.S. Employer
                                                           Identification No.)

       First Trust Center
       180 East Fifth Street
       St. Paul, Minnesota                                        55101 
(Address of Principal Executive Offices)                       (Zip Code)


                         CMC SECURITIES CORPORATION IV
             (Exact name of registrant as specified in its charter)

       Delaware                                                75-2431915
(State of Incorporation)                                    (I.R.S. Employer
                                                           Identification No.)

       CityPlace Center East
       2711 Haskell Avenue, Suite 1011
       Dallas, Texas                                          75204
(Address of Principal Executive Offices)                    (Zip Code)


               COLLATERALIZED MORTGAGE OBLIGATIONS, SERIES 1997-2
                      (Title of the Indenture Securities)
<PAGE>   2
                                    GENERAL

1.    General Information Furnish the following information as to the Trustee.

      (a)        Name and address of each examining or supervising authority to
                 which it is subject.  

                 Comptroller of the Currency 
                 Washington, D.C.

      (b)        Whether it is authorized to exercise corporate trust powers.

                 Yes

2.    AFFILIATIONS WITH OBLIGOR AND UNDERWRITERS If the obligor or any
      underwriter for the obligor is an affiliate of the Trustee, describe each
      such affiliation.
                 None

      See Note following Item 16.

      Items 3-15 are not applicable because to the best of the Trustee's
      knowledge the obligor is not in default under any Indenture for which the
      Trustee acts as Trustee.

16.   LIST OF EXHIBITS List below all exhibits filed as a part of this
      statement of eligibility and qualification.

      1.     Copy of Articles of Association.*

      2.     Copy of Certificate of Authority to Commence Business.*

      3.     Authorization of the Trustee to exercise corporate trust powers
             (included in Exhibits 1 and 2; no separate instrument).*

      4.     Copy of existing By-Laws.*

      5.     Copy of each Indenture referred to in Item 4. N/A.

      6.     The consents of the Trustee required by Section 321(b) of the
             act.

      7.     Copy of the latest report of condition of the Trustee published
             pursuant to law or the requirements of its supervising or
             examining authority incorporated by reference to File Number
             333-26679.

 * Incorporated by reference to File Number 333-30939.



<PAGE>   3

                                    NOTE

         The answers to this statement insofar as such answers relate to what
persons have been underwriters for any securities of the obligors within three
years prior to the date of filing this statement, or what persons are owners of
10% or more of the voting securities of the obligors or affiliates, are based
upon information furnished to the Trustee by the obligors, While the Trustee
has no reason to doubt the accuracy of any such information, it cannot accept
any responsibility therefor.




                                  SIGNATURE

         Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, U.S. Bank National Association, an Association organized and existing
under the laws of the United States, has duly caused this statement of
eligibility and qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, and its seal to be hereunto affixed and attested,
all in the City of Saint Paul and State of Minnesota on the 29 day of
October, 1997.

                                        U.S. BANK NATIONAL ASSOCIATION



                                        /s/ Christina M. Hatfield 
                                        -------------------------------
                                        Christina M. Hatfield
                                        Vice President       




/s/ Sheryl A. Christopherson
- -------------------------------
Sheryl A. Christopherson
Assistant Secretary
<PAGE>   4

                                   EXHIBIT 6

                                    CONSENT

         In accordance with Section 321(b) of the Trust Indenture Act of 1939,
the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of
examination of the undersigned by Federal, State, Territorial or District
authorities may be furnished by such authorities to the Securities and Exchange
Commission upon its request therefor.


Dated: October 29, 1997


                                        U.S. BANK NATIONAL ASSOCIATION


                                        /s/ Christina M. Hatfield 
                                        ------------------------------
                                        Christina M. Hatfield 
                                        Vice President


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