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): November 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-2)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
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(State or other (Commission File No. (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 911009-7137
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(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: November 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
November 25, 1996
CORPORATE TRUST AND AGENCY SERVICES
101 BARCLAY STREET
NEW YORK, NEW YORK 10286
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-02 CUSIP #126691
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICING AGREEMENT DATED MARCH 1, 1996
CUSIP #126691
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<CAPTION>
Distribution Date 11/25/96
SINGLE TOTAL
4.04(i) Reduction of the Stated Amount of Certificates CERTIFICATE AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates XE9 $17.10138454 $208,619.79
Class A-2 Certificates XF6 $25.01492413 $885,253.15
Class A-3 Certificates XG4 $0.00000000 $0.00
Class A-4 Certificates XH2 $17.10138414 $531,151.89
Class A-5 Certificates XJ8 $0.00000000 $0.00
Class A-6 Certificates XK5 $0.00000000 $0.00
Class A-7 Certificates XL3 $0.00000000 $0.00
Class A-8 Certificates XM1 $0.00000000 $0.00
Class A-9 Certificates XN9 $0.65543459 $6,658.56
Class A-10 Certificates XP4 $0.65543396 $3,994.87
Class PO Certificates XQ2 $1.02825289 $971.95
Class X Certificates (Notional) XR0 N/A N/A
Class AR Certificates XS8 $0.00000000 $0.00
Class B-1 Certificates XT6 $0.65543498 $2,132.13
Class B-2 Certificates XU3 $0.65543379 $1,866.02
Class B-3 Certificates XV1 $0.65543716 $959.56
Class B-4 Certificates XW9 $0.65543033 $639.70
Class B-5 Certificates XX7 $0.65545082 $159.93
Class B-6 Certificates XY5 $0.65543691 $374.21
Total Amount 1,642,781.76
</TABLE>
Aggregate amount of any Principal Prepayments 1,536,166.00
SINGLE TOTAL
4.04(ii) Amounts distributed representing interest CERTIFICATE AMOUNT
Class A-1 Certificates $6.42895155 $78,426.78
Class A-2 Certificates $5.79451440 $205,062.07
Class A-3 Certificates $5.83333354 $95,526.67
Class A-4 Certificates $4.98243730 $154,749.52
Class A-5 Certificates $2.48344184 $77,133.22
Class A-6 Certificates $6.45833314 $54,437.29
Class A-7 Certificates $6.45833353 $55,806.46
Class A-8 Certificates $6.45833326 $155,264.79
Class A-9 Certificates $6.44589625 $65,483.86
Class A-10 Certificates $6.44589664 $39,287.74
Class PO Certificates $0.00000000 $0.00
Class X Certificates (Notional) $0.41742570 $51,797.86
Class AR Certificates $0.00000000 $0.00
Class B-1 Certificates $6.44589610 $20,968.50
Class B-2 Certificates $6.44589744 $18,351.47
Class B-3 Certificates $6.44567623 $9,436.47
Class B-4 Certificates $6.44589139 $6,291.19
Class B-5 Certificates $6.44590164 $1,572.80
Class B-6 Certificates $6.44589741 $3,680.17
Total Amount 1,093,276.86
4.04(iii) Amount of shortfall which is less than the full amount that would be
distributed:
Principal 0.00
Interest 0.00
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<CAPTION>
ORIGINAL SINGLE TOTAL
4.04(iv) Stated Amount of Certificates after this BALANCE CERTIFICATE AMOUNT
Distribution
<S> <C> <C> <C>
Class A-1 Certificates $12,199,000.00 $978.34915813 $11,934,881.38
Class A-2 Certificates $35,389,000.00 $968.33038995 $34,268,244.17
Class A-3 Certificates $16,376,000.00 $1,000.00000000 $16,376,000.00
Class A-4 Certificates $31,059,000.00 $978.34915805 $30,386,546.50
Class A-5 Certificates $31,059,000.00 $978.34915805 $30,386,546.50
Class A-6 Certificates $8,429,000.00 $1,000.00000000 $8,429,000.00
Class A-7 Certificates $8,641,000.00 $1,000.00000000 $8,641,000.00
Class A-8 Certificates $24,041,000.00 $1,000.00000000 $24,041,000.00
Class A-9 Certificates $10,159,000.00 $997.41876956 $10,132,777.28
Class A-10 Certificates $6,095,000.00 $997.41876948 $6,079,267.40
Class PO Certificates $945,244.12 $996.33770798 $941,782.36
Class X Certificates (Notional) $124,088,814.09 $983.98429629 $122,101,444.41
Class AR Certificates $100.00 $0.00000000 $0.00
Class B-1 Certificates $3,253,000.00 $997.41876729 $3,244,603.25
Class B-2 Certificates $2,847,000.00 $997.41877415 $2,839,651.25
Class B-3 Certificates $1,464,000.00 $997.41876366 $1,460,221.07
Class B-4 Certificates $976,000.00 $997.41877049 $973,480.72
Class B-5 Certificates $244,000.00 $997.41872951 $243,370.17
Class B-6 Certificates $570,932.14 $997.41876504 $569,458.43
Total Amount 160,561,283.98
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4.04(v) The Pool Stated Principal Balance for the following Distribution Date:
160,561,284.02
4.04(vi) Senior Percentage for the following Distribution Date 83.50498248%
Subordinated Percentage for the following Distribution Date
6.33833584%
Class A-9 and A-10 Percentage for the following Distribution Date
10.15668168%
4.04(vii) Amount of the Master Servicing Fees paid to or retained by the Master
Servicer with respect to such Distribution Date 33,792.51
4.04(viii) Pass-Through Rate for each such Class of Certificates
Class A-1 Certificates 7.75000%
Class A-2 Certificates 7.00000%
Class A-3 Certificates 7.00000%
Class A-4 Certificates 6.06875%
Class A-5 Certificates 2.93125%
Class A-6 Certificates 7.75000%
Class A-7 Certificates 7.75000%
Class A-8 Certificates 7.75000%
Class A-9 Certificates 7.75000%
Class A-10 Certificates 7.75000%
Class PO Certificates N/A
Class X Certificates (Notional) 7.25000%
Class AR Certificates 0.00000%
Class B-1 Certificates 7.75000%
Class B-2 Certificates 7.75000%
Class B-3 Certificates 7.75000%
Class B-4 Certificates 7.75000%
Class B-5 Certificates 7.75000%
Class B-6 Certificates 7.75000%
4.04(ix) Amount of Advances included in the distribution on this Distribution
Date Aggregate amount of Advances outstanding as of the close of
business on such Distribution Date 3,813.51
3,813.51
4.04(x) A. The number and aggregate principal amounts of Mortgage Loans
delinquent
30 to 59 days 1 540,891.86
60 to 89 days 0 0.00
90 or more 0 0.00
B. The number and aggregate principal amounts of Mortgage Loans in
foreclosure and delinquent
Foreclosure 2 631,535.01
4.04(xi) Loan number and Stated Principal Balance for any Mortgage loan that
became an REO Property during the preceding calendar month
None 0.00
4.04(xii) Total number and principal balance of any REO Properties as of the
close of business on the Determination Date preceding such
Distribution Date 0.00
4.04(xiii)Senior Prepayment Percentage for following Distribution Date
100.00%
Subordinated Prepayment Percentage for the following Distribution Date
0.00%
Class A-9 and A-10 Prepayment Percentage for the following
Distribution Date 0.00%
4.04(xiv) Aggregate amount of Realized Losses incurred during preceding month
0.00
Aggregate amount of Realized Losses through Distributio 0.00
4.04(xv) Special Hazard Loss Coverage Amount 2,232,193.00
Required Fraud Loss Coverage 3,253,766.00
Current Bankruptcy Coverage 100,000.00
