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-A
(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
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(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 1996-1
On November 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-1, 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 1996-1 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 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: 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
THE BANK OF NEW YORK
CORPORATE TRUST AND AGENCY SERVICES
101 BARCLAY STREET
NEW YORK, NEW YORK 10286
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-01 CUSIP # 126691
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICING AGREEMENT DATED MARCH 1, 1996
CUSIP # 126691 Distribution Date11/25/96
4.04(i) Reduction of the Stated Amount Of Certificates
SINGLE CERTIFICATE TOTAL AMOUNT
Class A-1 Certificates. SW5 $11.28531141 $442,929.49
Class A-2 Certificates. SX3 $0.00000000 $0.00
Class A-3 Certificates. SY1 $29.58067609 $280,696.93
Class A-4 Certificates. SZ8 $0.00000000 $0.00
Class A-5 Certificates. TA2 $0.00000000 $0.00
Class A-6 Certificates. TB0 $0.73869000 $8,233.86
Class A-7 Certificates. N/A $0.00000000 $0.00
Class X Certificates. TD6 $0.00000000 $0.00
Class A-R Certificates. TE4 $0.00000000 $0.00
Class PO Certificates. TC8 $0.95780886 $1,525.58
Class B-1 Certificates. TF1 $0.73868861 $2,956.70
Class B-2 Certificates. TG9 $0.73868971 $1,970.89
Class B-3 Certificates. TH7 $0.73868747 $1.511.29
Class B-4 Certificates. $0.73869021 $657.21
Class B-5 Certificates. $0.73868821 $393.73
Class B-6 Certificates. $0.73868436 $396.40
Total Amount 741,272.08
Aggregate Amount of any
Principal Prepayments 544,143.27
4.04(ii) Amounts Distributed representing interest
SINGLE CERTIFICATE TOTAL AMOUNT
Class A-1 Certificates. $5.21253383 $189,954.28
Class A-2 Certificates. $5.58333312 $86,988.33
Class A-3 Certificates. $5.47154899 $249,607.67
Class A-4 Certificates. $5.24137105 $15,100.39
Class A-5 Certificates. $5.61575495 $16,178.99
Class A-6 Certificates. $6.01543182 $66,120.66
Class A-7 Certificates. $6.95494724 $265,79O.21
Class X Certificates. $0.40552565 $59,316.10
Class A-R Certificates. $0.00000000 $0.00
Class PO Certificates. $0.00000000 $0.00
Class B-1 Certificates. $6.01543291 $23,743.33
Class B-2 Certificates. $6.01543107 $15,826.88
Class B-3 Certificates. $6.01543338 $12,136.15
Class B-4 Certificates. $10.04096958 $5,277.63
Class B-5 Certificates. $6.01543726 $3,161.77
Class B-6 Certificates. $6.01543012 $3,183.19
Total Amount 1,012,385.58
4.04(iii) Amount of shortfall which is less than the full amount that
would be distributed:
Principal 0.00
Interest 0.00
4.04(iv) Stated Amount of Certificates after this Distribution
ORIGINAL BALANCE SINGLE CERTIFICATE TOTAL AMOUNT
Class A-1 Certificates. $36,881,000.00 $936.44808709 $34,094,212.41
Class A-2 Certificates. $15,580,000.00 $1,000.00000000 $15,580,000.00
Class A-3 Certificates. $47,050,000.00 $943.13914899 $44,094,000.03
Class A-4 Certificates. $2,881,000.00 $898.52072544 $2,588,638.21
Class A-5 Certificates. $2,881,000.00 $898.52072544 $2,588,638.21
Class A-6 Certificates. $11,000,000.00 $994.91897000 $10,935,874.81
Class A-7 Certificates. $48,239,000.00 $997.69689629 $48,197,221.01
Class X Certificates. $148,297,622.57 975.55504291 $142,598,323.39
Class A-R Certificates. $1,000.00 $0.00000000 $0.00
Class PO Certificates. $535,587.03 $983.93319943 $525,456.28
Class B-1 Certificates. $3,950,000.00 $994.91896962 $3,926,973.23
Class B-2 Certificates. $2,633,000.00 $994.91897076 $2,617,650.76
Class B-3 Certificates. $2,019,000.00 $994.91897474 $2,007,230.12
Class B-4 Certificates. $878,000.00 $994.91896355 $872,881.64
Class B-5 Certificates. $526,000.00 $994.91897338 $522,933.65
Class B-6 Certificates. $529,563.13 $994.91898161 $526,476.01
Total Amount $169,078,186.37
4.04(v) Tne Pool Stated Principal Balance for the following Distribution Date:
169,078,186.41
4.04(vi) Senior Percentage for the following Distribution Date
93.864821635142%
Subordinated Percentage for the following Distribution Date
6.135178364858%
4.04(vii)Amount of the Master Servicing Fees paid to or retained by the Master
Servicer with respect to such Distribution Date
35,364.61
4.04(viii) Pass-Through Rate for each such Class of Certificates
Class A-1 Certificates. 6.60000%
Class A-2 Certificates. 6.70000%
Class A-3 Certificates. 6.75000%
Class A-4 Certificates. 7.00000%
Class A-5 Certificates. 7.50000%
Class A-6 Certificates. 7.25000%
Class A-7 Certificates. 7.25000%
Class X Certificates. 0.49882%
Class A-R Certificates. 7.25000%
Class PO Certificates. 0.00000%
Class B-1 Certificates. 7.25000%
Class B-2 Certificates. 7.25000%
Class B-3 Certificates. 7.25000%
Class B-4 Certificates. 7.25000%
Class B-5 Certificates. 7.25000%
Class B-6 Certificates. 7.25000%
4.04(ix) Amount of Advances included in the distribution on this Distribution
Date
4,472.98
Aggregate amount of Advances outstanding as of the close of business
on such Distribution Date
4,472.98
4.04(x) A. The number and aggregate principal amounts of Mortgage Loans
delinquent
30 to 59 days 3 590,841.17
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
In Foreclosure 4 1,192,063.76
4.04(xi) Loan number and Stated Principal Balance for any Mortgage loan that
became an REO Property during the preceding calendar month
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
100.000000000000%
4.04(xiv) Aggregate amount of Realized Losses incurred during preceding month
None
Aggregate amount of Realized Losses through Distribution Date
0.00
4.04(xv)
Special Hazard Loss Coverage Amount 3,760,049.30
Required Fraud Loss Coverage 8,000,007.24
Current Bankruptcy Coverage 50,000.00
