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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): November 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-H)
(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-H
On November 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-H, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of July 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-H relating to the distribution date
of November 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of July 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: 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
<TABLE>
<CAPTION>
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-H
Current Payment Information
Class Information
Beginning Pass Thru Principal Interest Total Principal Interest
Type Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A-1 26,989,671.00 6.720000% 1,189,822.63 151,136.56 1,340,959.19 0.00 0.00
A-2 23,932,000.00 7.125000% 0.00 142,096.25 142,096.25 0.00 0.00
A-3 22,905,000.00 7.300000% 0.00 139,338.75 139,338.75 0.00 0.00
A-4 26,166,000.00 7.500000% 0.00 163,537.50 163,537.50 0.00 0.00
A-5 21,892,000.00 7.500000% 0.00 136,825.00 136,825.00 0.00 0.00
A-6 11,491,000.00 7.500000% 0.00 71,818.75 71,818.75 0.00 0.00
A-7 10,420,00.00 7.500000% 0.00 65,125.00 65,125.00 0.00 0.00
A-8 25,000,000.00 7.600000% 0.00 158,333.33 158,333.33 0.00 0.00
PO A-9 600,000.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-10 7,354,000.00 7.500000% 0.00 45,962.50 45,962.50 0.00 0.00
A-11 23,071,108.92 9.000000% 618,707.77 173,033.32 791,741.09 0.00 0.00
A-12 24,500,000.00 7.500000% 0.00 153,125.00 153,125.00 0.00 0.00
A-13 1,000,000.00 7.500000% 0.00 6,250.00 6,250.00 0.00 0.00
PO-1 520,825.47 0.000000% 423.98 0.00 423.98 0.00 0.00
IO X-1 222,154,087.79 1.248000% 0.00 230,100.87 230,100.87 n/a 0.00
Residual A-R 100.00 7.500000% 0.00 0.63 0.63 0.00 0.00
Subordinate B-1 9,536,753.80 7.500000% 5,624.65 59,604.71 65,229.36 0.00 0.00
B-2 5,086,667.80 7.500000% 3,000.05 31,791.67 34,791.72 0.00 0.00
B-3 3,814,501.97 7.500000% 2,249.74 23,840.64 26,090.38 0.00 0.00
B-4 1,907,749.89 7.500000% 1,125.17 11,923.44 13,048.61 0.00 0.00
B-5 508,866.33 7.500000% 300.12 3,180.41 3,480.53 0.00 0.00
B-6 1,399,089.72 7.500000% 825.16 8,744.31 9,589.47 0.00 0.00
Totals 248,094,334.90 1,822,079.27 1,775,768.64 3,597,847.91 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Factors per $1,000
Class Information
Ending Cert./ Unpaid Principal Interest Ending
Type Name Notional Bal. Interest Dist. Dist. Cert. Bal
<S> <C> <C> <C> <C> <C> <C>
Senior A-1 25,798,848.37 0.00.00 37.86229531 4.80943707 820.96573970
A-2 23,932,000.00 0.00.00 0.00000000 5.93750000 1000.00000000
A-3 22,905,000.00 0.00.00 0.00000000 6.08333333 1000.00000000
A-4 26,166,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-5 21,892,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-6 11,491,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-7 10,420,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-8 25,000,000.00 0.00.00 0.00000000 6.33333320 1000.00000000
PO A-9 600,000.00 0.00.00 0.00000000 0.00000000 1000.00000000
A-10 7,354,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-11 22,452,401.15 0.00.00 24.37968989 6.81824100 884.71909331
A-12 24,500,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
A-13 1,000,000.00 0.00.00 0.00000000 6.25000000 1000.00000000
PO-1 520,401.49 0.00.00 0.81042232 0.00000000 994.72846931
IO X-1 222,351,820.47 0.00.00 0.00000000 1.00543248 971.57277993
Residual A-R 100.00 0.00.00 0.00000000 6.30000000 1000.00000000
Subordinate B-1 9,531,129.15 0.00.00 0.58847562 6.23610693 997.18865348
B-2 5,083,667.75 0.00.00 0.58847587 6.23610632 997.18865241
B-3 3,812,252.23 0.00.00 0.58847502 6.23610777 997.18865551
B-4 1,906,624.72 0.00.00 0.58847803 6.23610879 997.18866109
B-5 508,566.21 0.00.00 0.58847059 6.23609804 997.18864706
B-6 1,398,264.56 0.00.00 0.58847247 6.23610659 997.18866684
Totals 246,272,255.63 0.00.00 7.14850754 6.96681847 966.19236383
</TABLE>
<TABLE>
<CAPTION>
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-H
Original Certificate Information
Class Information ORIGINAL Pass Thru Cusip
Type Name Cert. Bal. Rate Numbers
<S> <C> <C> <C> <C>
Senior A-1 31,425,000.00 6.720000% 126691-VT8
A-2 23,932,000.00 7.125000% 126691-VU5
A-3 22,905,000.00 7.300000% 126691-VV3
A-4 26,166,000.00 7.500000% 126691-VW1
A-5 21,892,000.00 7.500000% 126691-VX9
A-6 11,491,000.00 7.500000% 126691-VY7
A-7 10,420,000.00 7.500000% 126691-VZ4
A-8 25,000,000.00 7.600000% 126691-WA8
PO A-9 600,000.00 0.000000% 126691-WB6
A-10 7,354,000.00 7.500000% 126691-WC4
A-11 25,378,000.00 9.000000% 126691-WD2
A-12 24,500,000.00 7.500000% 126691-WE0
A-13 1,000,000.00 7.500000% 126691-WF7
PO-1 523,159.33 0.000000% 126691-WH3
IO X-1 228,857,606.00 1.248000% 126691-WJ9
Residual A-R 100.00 7.500000% 126691- WG5
Subordinate B-1 9,558,000.00 7.500000% 126691-WK6
B-2 5,098,000.00 7.500000% 126691-WL4
B-3 3,823,000.00 7.500000% 126691-WM2
B-4 1,912,000.00 7.500000% n/a
B-5 510,000.00 7.500000% n/a
B-6 1,402,206.63 7.500000% n/a
Totals 254,889,465.96
</TABLE>
Aggregate Certificate Information for the following distribution date
Class Aggregate Aggregate Aggregate
Type Percentages Prepay. Pct. Certificate Bal.
Senior 90.950016% 100.000000% 223,511.349.52
Subordinate 9.049984% 0.000000% 22,240,504.62
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-TROUGH CERTIFICATES, SERIES 1996-H
COLLATERAL INFORMATION
Aggregate stated princial balance 248,615,160.33
Aggregate loan count 17
Weighted average remaining term 355.00
Weighted average loan rate 8.964354%
Aggregate prepayment amount 1,675,643.20
FEES & ADVANCES
Monthly master servicer less 25,897.41
Monthly servicer fees 51,794.83
Advances included in this distribution 33,444.91
Aggregate Advances Outstanding 40,410.19
LOSSES & INSURANCE COVERAGES
Net realized losses (this period) 0.00
Cumulative losses (from Cut-off) 0.00
Bankruptcy Loss Coverage Amount 125,000.00
Fraud Loss Coverage Amount 5,097,789.00
Special Hazrad Loss Coverage Amount 2,467,930.81
Class A-8 Reserve Fund Withdrawals 0.00
Class A-8 Reserve Fund Balance 17,000.00
Net principal losses 0.00
Net interest losses 0.00
Excess losses 0.00
DELINQUENCY INFORMATION
Period Loan Count Ending Stated Balance
1 mo. 20 3,280,300.71
2 mos. 5 872,497.51
3 + mos. 0 0.00
In foreclosure 1 133,000.00
In Bankruptcy 0 0.00
Totals 26 4,285,798.22
Aggregate Amount of the Scheduled Payments on all
60+ day delinquencies for the past 12 month rolling period 18,618.04
REO INFORMATION
Reo Date Loan Number Ending Stated Balance Book Value
0 0.00 0.00
0 0.00 0.00
0 0.00 0.00
Totals 0 0.00 0.00
OTHER INFORMATION
Available remittance amount 3,610,194.67
Principal remittance amount 1,822,079.28
Interest remittance amount 1,788,115.39
Transfer Balance 0.00
Class A-4 163,537.50
Class A-8 158,333.33
Class A-4 Net Interest Shortfall 0.00
Class A-8 Net Interest Shortfall 0.00
Class A-4 Realized Loss Allocation 0.00
Class A-8 Realized Loss Allocation 0.00
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