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Previous: CWMBS INC, 8-K, 1997-03-25 |
Next: CWMBS INC, 8-K, 1997-03-25 |
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-M)
(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>
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
THE BANK OF NEW YORK
101 BARCLAY STREET
NEW YORK, NEW YORK 10286
Garry Gerquest, MBS Unit
(212) 815-7165
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-M
<TABLE>
<CAPTION>
Class Information Current Payment Information
Class Beginning Pass Thru Principal Dist. Interest Dist.
Code Name Cert. Bal. Rate Amt. Amt. Total Dist.
<S> <C> <C> <C> <C> <C> <C>
A-1 l01,246,970.00 7.500000% 920,385.61 632,793.56 1,553,179.17
A-2 5,250,000.00 6.150000% 52,413.88 26,906.25 79,320.13
A-3 26,968,030.00 5.937500% 251,158.73 133,435.57 384,594.30
A-4 26,968,030.00 3.062500% NA 68,824.66 68,824.66
A-5 3,304,000.00 7.750000% 0.00 21,338.33 21,338.33
A-6 12,289,000.00 7.750000% 0.00 79,366.46 79,366.46
A-7 2,963,000.00 7.750000% 0.00 19,136.04 19,136.04
A-8 4,811,000.00 7.750000% 0.00 31,071.04 31,071.04
A-9 24,189,418.00 7.750000% 0.00 156,223.32 156,223.32
PO 1,051.00 NA 0.70 NA 0.70
X 197,475,567.00 0.960275% 0.00 158,025.66 158,025.66
A-R 100.00 7.750000% 100.00 2.03 102.03
B-1 7,935,236.00 7.750000% 4,159.35 51,248.40 55,407.75
B-2 3,967,618.00 7.750000% 2,079.68 25,624.20 27,703.88
B-3 2,479,761.00 7.750000% 1,299.80 16,015.12 17,314.92
B-4 1,289,475.00 7.750000% 675.89 8,327.86 9,003.75
B-5 495,952.00 7.750000% 259.96 3,203.02 3,462.98
B-6 1,190,289.56 7.750000% 623.91 7,687.29 8,311.19
Totals 198,380,900.56 1,233,157.51 1,439,228.81 2,672,386.32
</TABLE>
Original Certificate Information
Class Information
Original Pass Thru Cusip
Type Name Cert. Bal. Rate Numbers
Senior A-1 101,246,970.00 7.500000% 1226691-D68
A-2 5,250,000.00 6.150000% 1226691-D76
A-3 26,968,030.00 5.937500% 1226691-D84
A-4 26,968,030.00 3.062500% 1226691-D92
A-5 3,304,000.00 7.750000% 1226691-E26
A-6 12,289,000.00 7.750000% 1226691-E34
A-7 2,963,000.00 7.750000% 1226691-E42
A-8 4,811,000.00 7.750000% 1226691-E59
A-9 24189418 7.750000% 1226691-E67
PO 1,051.00 NA 1226691-F41
X 197,475,567.00 0.960000% 1226691-E75
Residual A-R 100.00 7.750000% 1226601-E83
Subordinate B-1 7,935,236.00 7.750000% 1226691-E91
B-2 3,967,618.00 7.750000% 1226691-F25
B-3 2,479,761.00 7.750000% 1226691-F33
B-4 1,289,475.00 7.750000% N/A
B-5 495,952.00 7.750000% N/A
B-6 1,190,289.56 7.750000% N/A
Totals 198,380,900.56
<PAGE>
<TABLE>
<CAPTION>
Class Information
Class Principal Interest Ending Cert./ Unpaid
Code Name Losses Shortfalls Notional Bal. Interest
<S> <C> <C> <C> <C> <C>
A-1 0.00 0.00 100,326,584.39 0.00
A-2 0.00 0.00 5,197,586.12 0.00
A-3 0.00 0.00 26,716,871.27 0.00
A-4 0.00 0.00 26,716,871.27 0.00
A-5 0.00 0.00 3,304,000.00 0.00
A-6 0.00 0.00 12,289,000.00 0.00
A-7 0.00 0.00 2,963,000.00 0.00
A-8 0.00 0.00 4,811,000.00 0.00
A-9 0.00 0.00 24,189,418.00 0.00
PO 0.00 0.00 1,050.30 0.00
X 0.00 0.00 196,243,014.42 0.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 0.00 7,931,076.65 0.00
B-2 0.00 0.00 3,965,538.32 0.00
B-3 0.00 0.00 2,478,461.20 0.00
B-4 0.00 0.00 1,288,799.11 0.00
B-5 0.00 0.00 495,692.04 0.00
B-6 0.00 0.00 1,189,665.65 0.00
Totals 0.00 0.00 197,147,743.05 0.00
</TABLE>
Factors per $1,000
Class Information
Principal Interest Ending
Class Code Name Dist. Dist. Cert. Bal.
A-1 9.09050029 6.25000000 990.90949971
A-2 9.98359619 5.12500000 990.01640381
A-3 9.31320271 4.94791667 990.68679729
A-4 0.00000000 2.55208333 990.68679729
A-5 0.00000000 6.45833333 1000.00000000
A-6 0.00000000 6.45833333 1000.00000000
A-7 0.00000000 6.45833333 1000.00000000
A-8 0.00000000 6.45833333 1000.00000000
A-9 0.00000000 6.45833333 1000.00000000
PO 0.66603235 0.00000000 999.33396765
X 0.00000000 0.80022892 993.75845529
A-R 1000.00000000 20.25833333 0.00000000
B-1 0.52416261 6.45833333 999.47583739
B-2 0.52416261 6.45833333 999.47583739
B-3 0.5241626l 6.45833333 999.47583739
B-4 0.52416261 6.45833333 999.47583739
B-5 0.52416261 6.45833333 999.47583739
B-6 0.52416261 6.45833333 999.47583739
Totals 6.21611004 7.25487590 993.7838899565
COLLATERAL INFORMATION
Aggregate Stated Principal Balance 198,380,900.00
Aggregate Prepayment Amount 505,606.48
Aggregate Liquidation Proceeds 0.00
FEES & ADVANCES
Monthly master servicer fees paid 0.00
Monthly servicer fees paid 0.00
Advances included in this distribution 11,757.17
Aggregate Advances Outstanding 11,757.17
LOSSES & INSURANCE COVERAGES
Net realized losses (this period) 0
Cumulative losses (from Cut-Off) 0
Bankruptcy Loss Coverage Amount 100,000.00
Fraud Loss Coverage Amount 3,967,615.96
Special Hazard Loss Coverage Amount 1,998,725.00
<PAGE>
OTHER INFORMATION
Available remittance amount 2,360,678.16
Principal remittance amount 869,510.07
Interest remittance amount 1,491,168.09
Aggregate Certificate Information for the following distribution date
<TABLE>
<CAPTION>
Class Type Aggregate Percentages Aggregate Prepay. Pct. Aggregate Certificate Bal.
<S> <C> <C> <C>
Senior 91.227558% 100.000000% 180,184,891.92
Subordinate 8.772442% 0.000000% 17,326,498.01
</TABLE>
DELINQUENCY INFORMATION
Ending Stated
Period Loan Count Balance
1 mo. 14 1,442,365.15
2 mos. 0 0.00
3+MOS. 0 0.00
In foreclosure 0 0.00
In Bankruptcy 0 0.00
Totals 14 1,442,365.15
TOTAL REO INFORMATION
Total Number of REO Properties 0
Total Principal Balance of REO Properties 0
Total Market Value of REO Properties Not Available
NEW REO INFORMATION
(Mortgage Loans that became REO Properties during the preceding calendar month)
Stated Principal
Loan Number Balance Date of Acquisition
0 0
0 0
0 0
Aggregate Amount of the Scheduled Payments on all
60+ day delinquencies for the past 12 month rolling period.
12/26/96 0.00
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