<PAGE> 1
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: JANUARY 25, 1999
-----------------
(Date of Earliest Event Reported)
CMC SECURITIES CORPORATION II
------------------------------------------------------
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 33-56778 75-2473215
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
2711 North Haskell
Suite 900
Dallas, Texas 75204
-------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (214) 874-2323
--------------
<PAGE> 2
CMC SECURITIES CORPORATION II
FORM 8-K
INDEX
<TABLE>
<CAPTION>
PAGE
----
<S> <C>
ITEM NUMBER
Item 5. Other Events..................................................... 3
Item 7. Financial Statements and Exhibits................................ 3
SIGNATURES ................................................................. 3
</TABLE>
<PAGE> 3
ITEM 5. OTHER EVENTS.
Monthly distributions of principal and interest are made with respect to the
outstanding Series of CMC Securities Corporation II's REMIC Pass-Through
Certificates listed below as of the 25th day of each calendar month (each, a
"Distribution Date"). In connection with each Distribution Date for each
outstanding Series, the Trustee receives a report (each, a "Collateral Summary
and Remittance Report") containing certain information regarding remittances on
the collateral underlying the related Certificates. Based on such information,
the Trustee is required to prepare and mail to each Certificateholder of each
outstanding Series on each Distribution Date a statement to certificateholders
(each, a "Statement to Certificateholders") setting forth certain information
regarding the Certificates of such Series as of such Distribution Date. Relevant
information contained in the Collateral Summary and Remittance Report and
Statement to Certificateholders for the JANUARY 25, 1999 Distribution Date for
each outstanding Series is summarized and included as Exhibits to this filing.
Capitalized terms used herein but not otherwise defined have the meanings set
forth in the applicable Pooling Agreement.
<TABLE>
<CAPTION>
SERIES DESIGNATION DISTRIBUTION OF PRINCIPAL AND INTEREST ON SERIES
------------------ ------------------------------------------------
<S> <C>
Series 1993-2A $3,036,470.09
Series 1993-2B $3,132,281.67
Series 1993-2C $3,525,833.01
Series 1993-2D $2,317,339.98
Series 1993-2E $6,290,903.83
Series 1993-2F $2,762,704.75
Series 1993-2G $4,849,982.67
Series 1993-2H $1,784,972.37
Series 1993-2I $2,206,002.11
Series 1995-A $2,665,121.52
Series 1996-A $3,088,865.50
Series 1996-B $4,197,852.83
Series 1996-C $5,872,179.41
</TABLE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
<TABLE>
<CAPTION>
SERIES EXHIBIT NO. DESCRIPTION
------ ----------- -----------
<S> <C> <C>
All 28.1 Collateral Summary and Remittance Report.
All 28.2 Summary of Trustee's Reports to Bondholders.
</TABLE>
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.
CMC SECURITIES CORPORATION II
April 1, 1999 By: /s/ Phillip A. Reinsch
--------------------------------------------
Phillip A. Reinsch - Senior Vice President
<PAGE> 4
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
SERIES EXHIBIT NO. DESCRIPTION
------ ----------- -----------
<S> <C> <C>
All 28.1 Collateral Summary and Remittance Report.
All 28.2 Summary of Trustee's Reports to Bondholders.
</TABLE>
<PAGE> 1
EXHIBIT 28.1
CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING: 31-JAN-99
MASTER SERVICING DIVISION
<TABLE>
<CAPTION>
DEAL REFERENCE 93-2A 93-2B 93-2C 93-2D
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
BEGINNING SECURITY BALANCE $ 37,659,607.06 $ 28,931,905.47 $ 92,854,599.40 $ 58,997,023.97
Loans Repurchased -- -- -- --
Scheduled Principal Distribution 47,994.91 31,745.43 127,486.32 410,031.46
Additional Principal Distribution 9,046.14 3,909.87 26,855.94 134,848.97
Liquidations Distribution 2,742,978.28 2,918,185.28 2,802,927.91 1,437,996.89
Accelerated Prepayments -- -- -- --
Adjustments (Cash) -- -- -- --
Adjustments (Non-Cash) -- -- -- --
Losses/Foreclosures -- -- -- --
Special Hazard Account -- -- -- --
---------------- ---------------- ---------------- ----------------
Ending Security Balance $ 34,859,587.73 $ 25,978,064.89 $ 89,897,329.23 $ 57,014,146.65
================ ================ ================ ================
INTEREST DISTRIBUTION:
Due Certificate Holders $ 232,329.37 $ 178,441.09 $ 561,743.02 $ 332,114.37
Compensating Interest 4,121.40 -- 6,819.82 2,348.29
Trustee Fee (Tx. Com. Bk.) 423.67 361.66 1,160.68 737.46
Pool Insurance Premium (PMI Mtg. Ins.) -- -- -- --
Pool Insurance (GE Mort. Ins.) 9,113.62 8,303.44 -- 9,498.52
Pool Insurance (United Guaranty Ins.) -- -- -- --
Backup for Pool Insurance (Fin. Sec. Assur.) -- -- -- --
Special Hazard Insurance (Comm. and Ind.) 1,788.83 865.50 -- --
Bond Manager Fee (Capstead) 596.28 485.94 1,160.68 860.37
Excess Compensating Interest (Capstead) -- 6,422.85
Administrative Fee (Capstead) 1,019.96 0.01 3,868.94 1,843.78
Administrative Fee (Other) -- -- -- --
Excess-Fees -- -- -- --
Special Hazard Insurance (Aetna Casualty) -- -- -- --
Other -- (1,446.37) -- --
---------------- ---------------- ---------------- ----------------
Total Fees 12,942.36 14,993.03 6,190.30 12,940.13
---------------- ---------------- ---------------- ----------------
Servicing Fee 11,996.04 9,041.17 24,183.18 16,531.24
Interest on Accelerated Prepayments -- -- -- --
---------------- ---------------- ---------------- ----------------
Total Interest Distribution $ 261,389.17 $ 202,475.29 $ 598,936.32 $ 363,934.03
================ ================ ================ ================
LOAN COUNT 143 104 346 262
WEIGHTED AVERAGE PASS-THROUGH RATE 7.534357 7.626961 7.347783 6.802974
</TABLE>
<PAGE> 2
CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING: 31-JAN-99
MASTER SERVICING DIVISION
<TABLE>
<CAPTION>
DEAL REFERENCE 93-2E.A 93-2E.B 93-2F 93-2G
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
BEGINNING SECURITY BALANCE $ 38,484,580.35 $ 104,143,499.67 $ 39,550,645.51 $ 139,023,491.31
Loans Repurchased -- -- -- --
Scheduled Principal Distribution 261,246.49 134,848.06 47,296.88 187,871.50
Additional Principal Distribution 113,943.33 52,180.98 2,379.53 130,195.17
Liquidations Distribution 861,402.95 4,035,975.92 2,484,700.36 3,701,307.70
Accelerated Prepayments -- -- -- --
Adjustments (Cash) -- -- -- --
Adjustments (Non-Cash) -- -- -- --
Losses/Foreclosures -- -- -- --
Special Hazard Account -- -- -- --
---------------- ---------------- ---------------- ----------------
Ending Security Balance $ 37,247,987.58 $ 99,920,494.71 $ 37,016,268.74 $ 135,004,116.94
================ ================ ================ ================
INTEREST DISTRIBUTION:
Due Certificate Holders $ 212,110.38 $ 604,535.36 $ 228,327.99 $ 820,647.94
Compensating Interest 2,043.80 12,616.54 -- 9,960.36
Trustee Fee (Tx. Com. Bk.) 416.92 1,128.22 494.37 1,564.01
Pool Insurance Premium (PMI Mtg. Ins.) 8,466.61 22,911.57 11,351.02 --
Pool Insurance (GE Mort. Ins.) -- -- -- --
Pool Insurance (United Guaranty Ins.) -- -- -- --
Backup for Pool Insurance (Fin. Sec. Assur.) -- -- -- --
Special Hazard Insurance (Comm. and Ind.) -- -- 1,183.28 --
Bond Manager Fee (Capstead) 481.06 1,301.79 659.18 1,737.79
Excess Compensating Interest (Capstead) -- -- 8,515.91 --
Administrative Fee (Capstead) 1,363.08 3,688.59 (0.04) 5,792.79
Administrative Fee (Other) -- -- -- --
Excess-Fees -- -- -- --
Special Hazard Insurance (Aetna Casualty) -- -- -- --
Other -- -- (0.01) --
---------------- ---------------- ---------------- ----------------
Total Fees 10,727.67 29,030.17 22,203.71 9,094.59
---------------- ---------------- ---------------- ----------------
Servicing Fee 10,878.08 27,214.62 12,736.30 34,529.85
Interest on Accelerated Prepayments -- -- -- --
---------------- ---------------- ---------------- ----------------
Total Interest Distribution $ 235,759.93 $ 673,396.69 $ 263,268.00 $ 874,232.74
================ ================ ================ ================
LOAN COUNT 172 358 139 510
WEIGHTED AVERAGE PASS-THROUGH RATE 6.67761 7.111171 7.206037 7.169507
</TABLE>
<PAGE> 3
CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING: 31-JAN-99
MASTER SERVICING DIVISION
<TABLE>
<CAPTION>
DEAL REFERENCE 93-2H.1 93-2H.2 93-2I 93-2I.1
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
BEGINNING SECURITY BALANCE $ 28,137,111.55 $ 20,002,602.49 $ 23,227,274.74 $ 19,744,571.53
Loans Repurchased -- -- -- --
Scheduled Principal Distribution 33,193.83 24,885.27 27,465.70 21,958.04
Additional Principal Distribution 6,919.88 3,716.87 4,661.83 6,511.83
Liquidations Distribution 1,028,409.28 404,116.43 293,205.96 636,157.23
Accelerated Prepayments -- -- -- --
Adjustments (Cash) -- -- 23.13 --
Adjustments (Non-Cash) -- -- -- --
Losses/Foreclosures -- -- -- --
Special Hazard Account -- -- -- --
---------------- ---------------- ---------------- ----------------
Ending Security Balance $ 27,068,588.56 $ 19,569,883.92 $ 22,901,918.12 $ 19,079,944.43
================ ================ ================ ================
INTEREST DISTRIBUTION:
Due Certificate Holders $ 162,094.37 $ 121,635.86 $ 144,279.14 $ 123,377.25
Compensating Interest -- -- -- --
Trustee Fee (Tx. Com. Bk.) 351.71 249.98 290.34 246.81
Pool Insurance Premium (PMI Mtg. Ins.) -- -- -- --
Pool Insurance (GE Mort. Ins.) 8,272.31 5,740.77 6,604.29 5,804.89
Pool Insurance (United Guaranty Ins.) -- -- -- --
Backup for Pool Insurance (Fin. Sec. Assur.) -- -- -- --
Special Hazard Insurance (Comm. and Ind.) -- -- -- --
Bond Manager Fee (Capstead) -- 802.33 1,187.76 --
Excess Compensating Interest (Capstead) 3,791.01 -- 324.55 1,301.76
Administrative Fee (Capstead) 1,172.47 210.16 122.11 822.70
Administrative Fee (Other) -- -- -- --
Excess-Fees -- -- -- --
Special Hazard Insurance (Aetna Casualty) 729.22 598.44 694.88 511.72
Other -- (0.05) 0.04 --
---------------- ---------------- ---------------- ----------------
Total Fees 14,316.72 7,601.63 9,223.97 8,687.88
---------------- ---------------- ---------------- ----------------
Servicing Fee 8,792.88 6,254.63 7,258.50 6,170.19
Interest on Accelerated Prepayments -- -- -- --
---------------- ---------------- ---------------- ----------------
Total Interest Distribution $ 185,203.97 $ 135,492.12 $ 160,761.61 $ 138,235.32
================ ================ ================ ================
LOAN COUNT 109 64 94 81
WEIGHTED AVERAGE PASS-THROUGH RATE 6.913049 7.345336 7.532084 7.4984
</TABLE>
<PAGE> 4
CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING: 31-JAN-99
MASTER SERVICING DIVISION
<TABLE>
<CAPTION>
DEAL REFERENCE 93-2I.2 1995-A 1996-A 1996-B
---------------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C>
BEGINNING SECURITY BALANCE $ 28,293,942.00 $ 43,826,232.68 $ 37,663,733.09 $ 73,009,891.67
Loans Repurchased -- -- -- --
Scheduled Principal Distribution 30,428.18 45,234.65 45,306.96 81,196.85
Additional Principal Distribution (1,812.74) 21,331.00 5,679.27 20,408.50
Liquidations Distribution 743,218.39 2,331,676.58 2,822,939.61 3,666,543.04
Accelerated Prepayments -- -- -- --
Adjustments (Cash) -- -- -- --
Adjustments (Non-Cash) -- -- -- --
Losses/Foreclosures -- -- -- --
Special Hazard Account -- -- -- --
---------------- ---------------- ---------------- ----------------
Ending Security Balance $ 27,522,108.17 $ 41,427,990.45 $ 34,789,807.25 $ 69,241,743.28
================ ================ ================ ================
INTEREST DISTRIBUTION:
Due Certificate Holders $ 176,527.13 $ 266,879.28 $ 214,939.70 $ 429,704.43
Compensating Interest -- -- -- --
Trustee Fee (Tx. Com. Bk.) 353.67 365.21 470.80 912.62
Pool Insurance Premium (PMI Mtg. Ins.) 8,165.16 -- -- 19,730.92
Pool Insurance (GE Mort. Ins.) -- 16,434.83 10,847.15 --
Pool Insurance (United Guaranty Ins.) -- -- -- --
Backup for Pool Insurance (Fin. Sec. Assur.) 1,468.54 -- -- 1,841.97
Special Hazard Insurance (Comm. and Ind.) -- -- -- --
Bond Manager Fee (Capstead) -- -- -- --
Excess Compensating Interest (Capstead) 923.64 5,166.35 7,158.46 11,042.63
Administrative Fee (Capstead) 1,178.84 1,131.30 1,569.47 3,042.17
Administrative Fee (Other) -- -- -- --
Excess-Fees -- -- -- --
Special Hazard Insurance (Aetna Casualty) 846.46 1,004.35 863.13 2,111.21
Other -- -- -- --
---------------- ---------------- ---------------- ----------------
Total Fees 12,936.31 24,102.04 20,909.01 38,681.52
---------------- ---------------- ---------------- ----------------
Servicing Fee 8,841.82 13,695.73 10,459.49 21,470.29
Interest on Accelerated Prepayments -- -- -- --
---------------- ---------------- ---------------- ----------------
Total Interest Distribution $ 198,305.26 $ 304,677.05 $ 246,308.20 $ 489,856.24
================ ================ ================ ================
LOAN COUNT 117 202 137 253
WEIGHTED AVERAGE PASS-THROUGH RATE 7.486852 7.307385 6.84817 7.062677
</TABLE>
<PAGE> 5
CAPSTEAD MORTGAGE CORPORATION
COLLATERAL SUMMARY AND REMITTANCE REPORT
FOR MONTH ENDING: 31-JAN-99
MASTER SERVICING DIVISION
<TABLE>
<CAPTION>
DEAL REFERENCE 1996-C.1 1996-C.2 1996-C.3
---------------- ---------------- ----------------
<S> <C> <C> <C>
BEGINNING SECURITY BALANCE $ 15,095,790.53 $ 27,151,697.49 $ 25,249,341.78
Loans Repurchased -- -- --
Scheduled Principal Distribution 15,094.44 29,222.53 24,030.30
Additional Principal Distribution 209.81 17,276.71 4,759.85
Liquidations Distribution 1,730,932.31 2,864,164.96 777,109.05
Accelerated Prepayments -- -- --
Adjustments (Cash) -- -- --
Adjustments (Non-Cash) -- -- --
Losses/Foreclosures -- -- --
Special Hazard Account -- -- --
---------------- ---------------- ----------------
Ending Security Balance $ 13,349,553.97 $ 24,241,033.29 $ 24,443,442.58
================ ================ ================
INTEREST DISTRIBUTION:
Due Certificate Holders $ 88,173.76 $ 169,540.08 $ 148,818.17
Compensating Interest -- 2,847.44 --
Trustee Fee (Tx. Com. Bk.) 188.69 226.26 210.41
Pool Insurance Premium (PMI Mtg. Ins.) -- -- --
Pool Insurance (GE Mort. Ins.) 4,347.59 -- --
Pool Insurance (United Guaranty Ins.) -- -- 9,405.38
Backup for Pool Insurance (Fin. Sec. Assur.) -- -- --
Special Hazard Insurance (Comm. and Ind.) -- -- --
Bond Manager Fee (Capstead) -- -- 5,790.14
Excess Compensating Interest (Capstead) 7,900.28 988.11 2,815.92
Administrative Fee (Capstead) 754.82 565.69 998.29
Administrative Fee (Other) -- -- --
Excess-Fees -- -- --
Special Hazard Insurance (Aetna Casualty) 345.94 -- 730.12
Other -- -- --
---------------- ---------------- ----------------
Total Fees 13,537.32 1,780.06 19,950.26
---------------- ---------------- ----------------
Servicing Fee 4,717.44 6,323.64 7,890.47
Interest on Accelerated Prepayments -- -- --
---------------- ---------------- ----------------
Total Interest Distribution $ 106,428.52 $ 180,491.22 $ 176,658.90
================ ================ ================
LOAN COUNT 65 119 113
WEIGHTED AVERAGE PASS-THROUGH RATE 7.00914 7.618862 7.347913
</TABLE>
<PAGE> 1
EXHIBIT 28.2
SOURCE: CHASE BANK OF TEXAS
JANUARY 1999 DISTRIBUTION
CMC SECURITIES CORPORATION II
BOND BALANCES AND FACTORS
<TABLE>
<CAPTION>
SERIES PAYMENT DATE CLOSING BALANCE CURRENT BALANCE
CLASS CUSIP NUMBER COUPON CLOSING BALANCE INTEREST PAID PRINCIPAL PAID CURRENT BALANCE % OF CURRENT CURRENT
PER CLASS PER $1000 PER $1000 PER CLASS BALANCE FACTOR
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1993-2A 1/25/99 149,572,077.00 34,859,585.73
- -----------------------------------------------------------
A 125714AC9 34,791,000.00
D 125714AD7 8,535,000.00
E 125714AE5 7.25000 28,652,000.00 0.000743523 0.0877772766 1,011,088.39 2.90 0.0352885799
F 125714AG0 7.25000 10,692,000.00 0.0060416667 0 10,692,000.00 30.67 1
G 125714AH8 7.25000 16,410,000.00 0.0060416667 0 16,410,000.00 47.07 1
H 125714AJ4 7.25000 3,006,000.00 0.0060416667 0 3,006,000.00 8.62 1
I 125714AF2 7.25000 12,057,000.00 0.0004335249 0.0232244066 585,143.44 1.68 0.048531429
J 125714AK1 7.25000 2,901,000.00 0.0060416684 0 2,901,000.00 8.32 1
KPO 125714AM7 0.00000 772,949.00 0 0.0064792502 254,225.90 0.73 0.3289038475
LIO 125714AN5 0.33426 0.00 0.0000701346 0 0.00 0.00 0
R 125714AL9 7.25000 128.00 0.006015625 0 128.00 0.00 1
1993-2B 1/25/99 189,529,970.00 26,202,592.72
- -----------------------------------------------------------
2B-A 125714AP0 189,529,000.00 0.0009414976 0.0155851642 26,202,592.72 100.00 0.1382510999
1993-2C 1/25/99 207,040,201.00 89,897,328.69
- -----------------------------------------------------------
A-2 125714BB0 27,680,000.00
A-3 125714BC8 10,312,000.00
A-4 125714BD6 33,521,000.00
A-5 000005CQR 84,357,000.00 0.0057788883 0.0334062349 76,796,116.59 85.43 0.910370409
A-R 125714AZ8 1,000.00 0.00612 0 1,000.00 0.00 1
B-1 000007CQR 5,694,392.00 0.005587838 0.0095962659 5,141,916.97 5.72 0.9029791012
B-2 000008CQR 3,623,203.00 0.0055878404 0.0095962688 3,271,677.44 3.64 0.9029793362
B-3 000009CQR 2,588,003.00 0.0055878413 0.0095962679 2,336,913.25 2.60 0.9029793435
B-4 000010CQR 1,345,761.00 0.0055878421 0.0095962656 1,215,194.36 1.35 0.9029793255
B-5 000011CQR 621,120.00 0.0055878413 0.0095962616 560,858.53 0.62 0.9029793438
B-6 000012CQR 1,138,722.00 0.0031174246 0.0053536948 573,651.55 0.64 0.5037678643
</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
SERIES PAYMENT DATE CLOSING BALANCE CURRENT BALANCE
CLASS CUSIP NUMBER COUPON CLOSING BALANCE INTEREST PAID PRINCIPAL PAID CURRENT BALANCE % OF CURRENT CURRENT
PER CLASS PER $1000 PER $1000 PER CLASS BALANCE FACTOR
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1993-2D 1/25/99 175,093,365.00 57,014,146.80
- -----------------------------------------------------------
A 125714AR6 50,026,000.00
AB 125714AS4 26,754,000.00 0.0000253566 0.0044727674 0.00 0.00 0
B 125714AT2 39,792,000.00 0.0000507182 0.0089463777 0.00 0.00 0
C 125714AU9 29,251,000.00 0.005669145 0.0515270657 27,743,781.80 48.66 0.9484729343
D 125714AV7 17,072,000.00 0.0056691448 0 17,072,000.00 29.94 1
E 125714AW5 1,897,000.00 0.005669146 0 1,897,000.00 3.33 1
F 125714AX3 10,300,365.00 0.0056691447 0 10,300,365.00 18.07 1
R 125714AY1 1,000.00 0.00567 0 1,000.00 0.00 1
1993-2E 1/25/99 317,870,015.00 137,168,481.33
- -----------------------------------------------------------
15A 125714BE4 0.00000 86,454,000.00 0.0021997443 0.0126843154 32,712,580.32 23.85 0.3783813394
15B 125714BF1 0.00000 9,494,478.45 0.0021997439 0.0126843161 3,592,533.45 2.62 0.3783813549
15CPO 125714BG9 0.00000 1,972,695.84 0 0.0098607895 941,494.32 0.69 0.4772627511
15DIO 125714BH7 0.00000 5,911.86 0.5212770636 0.0168690798 1,379.53 0.00 0.233344046
30A 125714BT1 29,444,000.00
30B 125714BL8 9,738,000.00
30CIO 125714BM6 0.00000 0.00 0 0
30D 125714BU8 922,000.00
30E 125714BV6 29,092,000.00
30F 125714BW4 0.00000 11,747,000.00 0 0 0.00 0.00 0
30G 125714BX2 0.00000 24,409,000.00 0.0053158917 0.1721753513 18,041,188.49 13.15 0.7391203445
30H 125714BY0 0.00000 21,450,000.00 0.0058333333 0 21,450,000.00 15.64 1
30I 125714BZ7 0.00000 13,542,000.00 0.0058333333 0 13,542,000.00 9.87 1
30J 125714CA1 40,256,000.00 0.0038650432 0 32,403,578.22 23.62 0.8049378532
30K 125714CB9 17,252,571.43 0.0066331575 0 13,887,247.79 10.12 0.8049378722
30NIO 125714BR5 0.00000 0.00 0.0000602273 0
30PPO 125714BS3 0.00000 1,089,658.82 0 0.0186996941 596,479.19 0.43 0.5473998655
</TABLE>
<PAGE> 3
SOURCE: CHASE BANK OF TEXAS
JANUARY 1999 DISTRIBUTION
CMC SECURITIES CORPORATION II
BOND BALANCES AND FACTORS
<TABLE>
<CAPTION>
SERIES PAYMENT DATE CLOSING BALANCE CURRENT BALANCE
CLASS CUSIP NUMBER COUPON CLOSING BALANCE INTEREST PAID PRINCIPAL PAID CURRENT BALANCE % OF CURRENT CURRENT
PER CLASS PER $1000 PER $1000 PER CLASS BALANCE FACTOR
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1993-2F 1/25/99 222,866,291.00 37,016,268.78
- -----------------------------------------------------------
A 125714BJ3 222,866,000.00 0.001024508 0.0113717515 37,016,268.78 100.00 0.1660920409
1993-2G 1/25/99 246,780,547.00 135,004,126.45
- -----------------------------------------------------------
2G-A1 125714CR4 59,032,000.00 0.0006530726 0.0378077229 4,220,826.70 3.13 0.0715006556
2G-A2 125714CS2 27,342,000.00 0.0017206978 0.0144048943 7,480,712.05 5.54 0.2735978367
2G-A3 125714CT0 25,200,000.00
2G-A4 125714CU7 15,000,000.00 0.002507788 0.081470592 5,446,105.88 4.03 0.3630737253
2G-A5 125714A#2 100,190,000.00 0.0059745892 0 100,190,000.00 74.21 1
2G-B1 125714A@4 4,936,000.00 0.0055686143 0.0089657516 4,556,343.37 3.37 0.9230841511
2G-B2 125714B#1 3,701,000.00 0.0055686139 0.0089657498 3,416,334.43 2.53 0.9230841475
2G-B3 125714B*5 1,481,000.00 0.0055686158 0.0089657529 1,367,087.61 1.01 0.9230841391
2G-B4 125714B@3 740,000.00 0.0055686216 0.0089657568 683,082.27 0.51 0.9230841486
2G-B5 125714C#0 1,481,547.00 0.0032983631 0.0053105301 810,042.40 0.60 0.5467544398
2G-M 125714A*6 7,403,000.00 0.0055686154 0.0089657504 6,833,591.74 5.06 0.92308412
2GA3IO 125714CP8 0.00000 0.00 0 0 0.00 0.00 0
2GA4IO 125714CQ6 0.40000 0.00 0.0001481813 0 0.00 0.00 0
1993-2H 1/25/99 315,871,665.00 46,638,472.51
- -----------------------------------------------------------
2H-A1 125714CG8 0.00000 180,386,000.00 0.0008982453 0.0047526964 26,634,004.95 57.11 0.1476500668
2H-A2 125714CH6 0.00000 125,000,000.00 0.0009735949 0.0051513779 20,004,467.56 42.89 0.1600357405
2H-A3 125714CJ2 10,485,000.00
1993-2I 1/25/99 367,955,786.00 69,503,970.44
- -----------------------------------------------------------
2I-3IO 125714CL7 0.00000 0.00 0.000062906 0
2I-A1 125714CE3 0.00000 237,519,000.00 0.0013534073 0.0046193845 50,424,025.78 72.55 0.2122947039
2I-A2 125714CD5 0.00000 130,435,853.00 0.000877967 0.0050954319 19,079,944.66 27.45 0.1462783753
</TABLE>
<PAGE> 4
SOURCE: CHASE BANK OF TEXAS
JANUARY 1999 DISTRIBUTION
CMC SECURITIES CORPORATION II
BOND BALANCES AND FACTORS
<TABLE>
<CAPTION>
SERIES PAYMENT DATE CLOSING BALANCE CURRENT BALANCE
CLASS CUSIP NUMBER COUPON CLOSING BALANCE INTEREST PAID PRINCIPAL PAID CURRENT BALANCE % OF CURRENT CURRENT
PER CLASS PER $1000 PER $1000 PER CLASS BALANCE FACTOR
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1995-A 1/25/99 176,490,904.00 41,427,977.68
- -----------------------------------------------------------
A1 125714CV5 82,117,691.00 0.0016576281 0.0146718124 20,804,561.83 50.22 0.2533505457
A2 125714CW3 94,373,113.00 0.0013855496 0.0126458356 20,623,415.85 49.78 0.2185306301
R 125714CX1 100.00 0 0 0.00 0.00 0
1996-A 1/25/99 115,119,131.00 34,789,806.38
- -----------------------------------------------------------
A 125714CY9 115,119,031.00 0.0018671078 0.0249648196 34,789,806.38 100.00 0.3022072552
R 125714CZ6 100.00 0 0 0.00 0.00 0
1996-B 1/25/99 207,490,355.00 69,241,742.10
- -----------------------------------------------------------
A1 125714DA0 41,914,009.00 0.0017070713 0.0169830963 10,878,172.80 15.71 0.2595354885
A2 125714DB8 165,576,246.00 0.0021630775 0.0184586787 58,363,569.30 84.29 0.3524875742
R 125714DC6 100.00 0 0 0.00 0.00 0
1996-C 1/25/99 266,806,262.00 59,989,937.44
- -----------------------------------------------------------
A 125714DD4 0.00000 266,806,062.00 0.0011400369 0.020474797 59,988,937.44 100.00 0.2248409837
R N/A 100.00
X N/A 100.00
</TABLE>
