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Previous: CWMBS INC, 8-K, 1997-03-26 |
Next: CWMBS INC, 8-K, 1997-03-26 |
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): September 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-B)
(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 September 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-B, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of February 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-B relating to the distribution date
of September 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of February 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: September 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
September 25, 1996
THE BANK OF NEW YORK
CORPORATE TRUST AND AGENCY SERVICES
101 BARCLAY STREET
NEW YORK NEW YORK 10286
CWIMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-B
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICTING AGREEMENTS DATED FEBRUARY 1, 1996
CUSIP #126691
Distribution Date 09/25/96
<TABLE>
<CAPTION>
SINGLE TOTAL
4.06(i) Reduction of the Stated Amount of CERTIFICATE AMOUNT
Certificates
<S> <C> <C> <C>
Class A-1 Certificates. RH9 $10.38993350 $974,929.02
Class A-2 Certificates. RJ5 $0.00000000 $0.00
Class A-3 Certificates. RK2 $3.00945561 $37,229.98
Class X Certificates. RM8 N/A N/A
Class A-R Certificates. RN6 $0.00000000 $0.00
Class B-1 Certificates. RP1 $3.00945561 $10,897.43
Class B-2 Certificates. RQ9 $3.00945561 $4,540.60
Class B-3 Certificates. RR7 $3.00945561 $2,724.25
Class B-4 Certificates. $3.00945561 $1,271.31
Class B-5 Certificates. $3.00945561 $908.08
Class B-6 Certificates. $3.00914763 $1,453.04
Total Amount 1,033,953.71
Aggregate amount of any Principal Prepayments 682,703.61
</TABLE>
<TABLE>
<CAPTION>
4.06(ii) Amount of distribution representing
interest. SINGLE TOTAL
CERTIFICATE AMOUNT
<S> <C> <C>
Class A-1 Certificates. $5.19005243 $487,003.38
Class A-2 Certificates. $5.52083333 $40,026.04
Class A-3 Certificates. $5.42756240 $67,144.37
Class X Certificates. $1.19363768 $144,068.76
Class A-R Certificates. $0.00000000 $O.00
Class B-1 Certificates. $5.42756240 $19,653.55
Class B-2 Certificates. $5.42756240 $8,188.99
Class B-3 Certificates. $5.42756240 $4,913.19
Class B-4 Certificates. $5.42756240 $2,292.82
Class B-5 Certificates. $5.42756240 $1,637.73
Class B-6 Certificates. $5.42756240 $2,620.84
Total Amount 777,549.66
</TABLE>
4.06(iii) Amount of interest shortfall 0.00
<TABLE>
<CAPTION>
4.06(iv) Stated Amount of Certificates after
this Distribution
ORIGINAL SINGLE TOTAL
BALANCE CERTIFICATE: AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates. 93,834,000.00 $929.69503491 $87,237,003.91
Class A-2 Certificates. 7,250,000.00 $1,000.00000000 $7,250,000.00
Class A-3 Certificates. 12,371,000.00 $980.09618649 $12,124,769.92
Class X Certificates. 120,697,228.67 $942.10743505 $113,709,756.52
Class A-R Cerfificatcs. 100.00 $0.00000000 $0.00
Class B-1 Certificates. 3,621,063.00 $980.09618649 $3,548.990.04
Class B-2 Certificates. 1,508,778.00 $980.09618649 $1,478,747.56
Class B-3 Certificates. 905,229.00 $980.09618649 $887,211.49
Class B-4 Certificates. 422,440.00 $980.09618649 $414,031.83
Class B-5 Certificates. 301,743.00 $980.09618649 $295,737.16
Class B-6 Certificates. 482,875.67 $978.85363061 $472,664.60
Total $113,709,156.52
</TABLE>
4.06(v) The Pool Stated Principal Balance for
the following Distribution Date $113,709,156.52
4.06(vi) Senior Percentage for this
Distribution Date 93.7950607204%
Subordinated Percentage for
this Distribution Date 6.2049392796%
4.06(vii ) Amount of the Master Servicing Fees
paid to or retained by the Master Servicer
with respect to such Distribution Date 32,545.49
<TABLE>
<CAPTION>
4.06(viii) Pass-Through Rate and for each
Class of Certificates
<S> <C>
Class A-1 Certificates. 6.62500000%
Class A-2 Cerfificatcs. 6.62500000%
Class A-3 Certificates. 6.62500000%
Class X Certificates. 1.50668400%
Class A-R Certificates. 6.62500000%
Class B-1 Certificates. 6.62500000%
Class B-2 Certificates. 6.62500000%
Class B-3 Certificates. 6.62500000%
Class B-4 Certificates. 6.62500000%
Class B-5 Certificates. 6.62500000%
Class B-6 Certificates. 6.62500000%
</TABLE>
4.06(ix) Amount of Advances included in the
distribution on such Distribution Date 21,209.29
Aggregate amount of Advances outstanding as of
the close of business on such Distribution Date 40,993.38
<TABLE>
<CAPTION>
4.06(x) The number and aggregate principal
amounts of Mortgage Loans delinquent
<S> <C> <C>
30 to 59 days 10 $840,696.39
60 to 89 days 3 $490,945.06
90 or more 4 $722,470.29
</TABLE>
<TABLE>
<CAPTION>
4.06 (xi) The number and aggregate principal amounts of
Mortgage Loans in foreclosure
<S> <C> <C>
In foreclosure 0 $0.00
</TABLE>
4.06(xii) Loan number and Stated Principal
Balance of any Mortgage loan that became an
REO Property during the preceding calendar
month $0.00
4.06(xiii) Total number and principal balance
of any REO Properties as of the close of
business on the Determination Date preceding
such Distribution Date. 0 $0.00
4.06(xiv) Senior Prepayment Percentage 100.0000000000%
4.06(xv) Aggregate amount of Realized Losses
incurred during the preceding calendar month $0.00
Aggregate amount of Realized Losses through
Distribution Date $0.00
4.06(xvi) Special Hazard Loss Coverage Amount 2,155,082.70
Required Fraud Loss Coverage 2,413,945.00
Current Bankruptcy Amount 75,000.00
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