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): December 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-E)
(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 1996-E
On December 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-E, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of March 1, 1996, 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
1 Report to Holders of CWMBS, Inc., Mortgage Pass-Through
Certificates Series 1996-E relating to the distribution date
of December 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of March 1, 1996.
<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 25, 1996
CSMBS, INC.
By: /s/ Jonathan Chayes
-------------------
Name: Jonathan Chayes
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit Page
1. Monthly Remittance Statement dated 5
December 25, 1996
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-E
<TABLE>
<CAPTION>
Class Information Current Payment Information
Beginning Pass Thru Principal Interest Total Principal Interest
Class Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
Code
<S> <C> <C> <C> <C> <C> <C> <C> <C>
2125 A-1 0.00 6.950000% 0.00 0.00 0.00 0.00 0.00
2126 A-2 98,572,135.50 7.930000% 1,024,099.30 569,254.08 1,593,353.39 0.00 0.00
2127 A-3 49,075,500.90 7.000000% 509,862.00 286,273.76 796,135.76 0.00 0.00
2128 A-4 19,118,691.88 7.000000% 12,106.48 111,525.70 123,632.18 0.00 0.00
2129 A-5 10,685,832.54 7.000000% 0.00 0.00 0.00 0.00 0.00
2130 PO 50,055.33 NA 42.69 NA 42.69 0.00 0.00
2131 X 202,562,277.66 1.434409% NA 242,130.91 242,130.91 0.00 0.00
2132 A-R 0.00 7.000000% 0.00 0.00 0.00 0.00 0.00
2133 B-1 15,386,889.86 7.000000% 9,743.40 89,756.86 99,500.25 0.00 0.00
2134 B-2 5,495,317.53 7.000000% 3,479.78 32,056.02 35,535.80 0.00 0.00
2135 B-3 3,297,190.12 7.000000% 2,087.87 19,233.61 21,321.48 0.00 0.00
2136 B-4 1,868,408.78 7.000000% 1,183.13 10,899.05 12,082.18 0.00 0.00
2137 B-5 659,438.23 7.000000% 417.57 3,846.72 4,264.30 0.00 0.00
2138 B-6 1,868,408.33 7.000000% 1,183.13 10,899.05 12,082.18 0.00 0.00
Totals 206,077,869.00 ---- 1,564,205.35 1,375,875.76 2,940,081.11 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Class Information Factors per $1,000
Class Ending Cert./ Unpaid Principal Interest Ending
Code Name Notional Bal. Interest Dist. Dist. Cert. Bal.
<S> <C> <C> <C> <C> <C> <C>
2125 A-1 0.00 0.00 0.00000000 0.00000000 0.00000000
2126 A-2 97,548,036.19 0.00 10.35620676 5.75658333 986.45475992
2127 A-3 48,565,638.90 0.00 10.35620676 5.81473064 986.45475992
2128 A-4 19,106,585.41 0.00 0.63028454 5.80622530 994.72262376
2129 A-5 10,748,166.57 0.00 0.00000000 0.00000000 1053.74182032
2130 PO 50,012.63 0.00 0.84745571 0.00000000 992.76900270
2131 X 201,063,311.68 0.00 0.00000000 1.11425911 925.27066243
2132 A-R 0.00 0.00 0.00000000 0.00000000 0.00000000
2133 B-1 15,377,146.46 0.00 0.63028454 5.80622529 994.72262285
2134 B-2 5,491,837.74 0.00 0.63028454 5.80622530 994.72262364
2135 B-3 3,295,102.25 0.00 0.63028455 5.80622530 994.72262398
2136 B-4 1,867,225.65 0.00 0.63028454 5.80622526 994.72261655
2137 B-5 659,020.66 0.00 0.63028455 5.80622536 994.72263367
2138 B-6 1,867,225.21 0.00 0.63028454 5.80622525 994.72261602
Totals 204,575,997.67 0.00 7.08301321 6.23022173 926.3582252603
</TABLE>
