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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-G)
(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
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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>
Item 5. Other Events
CWMBS, INC.
Mortgage Pass-Through Certificates
Series 1996-G
On December 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-G, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of May 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-G relating to the distribution date
of December 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of May 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: 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
<TABLE>
<CAPTION>
Class Information Current Payment Information
Beginning Pass Thru Principal Interest Total Principal Interest Ending Cert./
Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls Notional Bal.
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1874 A-1 26,435,634.04 6.700000% 2,218,871.26 149,470.99 2,368,342.25 0.00 0.00 24,552,052.39
1875 A-2 37,967,000.00 7.050000% 0.00 223,056.13 223,056.13 0.00 0.00 37,967,000.00
1876 A-3 31,953,000.00 7.150000% 0.00 190,386.63 190,386.63 0.00 0.00 31,953,000.00
1877 A-4 30,594,000.00 7.300000% 0.00 186,113.50 186,113.50 0.00 0.00 30,594,000.00
1870 A-5 37,021,817.92 9.000000% 1,183,382.32 279,004.78 1,462,387.10 0.00 0.00 36,017,254.35
1879 A-6 26,625,000.00 7.500000% 0.00 166,406.25 166,406.25 0.00 0.00 26,625,000.00
1880 A-7 74,602,000.00 7.500000% 0.00 466,262.50 466,262.50 0.00 0.00 74,602,000.00
1881 A-8 11,746,846.00 7.500000% 0.00 73,417.79 73,417.79 0.00 0.00 11,746,846.00
1882 A-9 15,000,000.00 7.500000% 0.00 93,750.00 93,750.00 0.00 0.00 15,000,000.00
1883 A-10 7,000,000.00 7.500000% 0.00 43,750.00 43,750.00 0.00 0.00 7,000,000.00
1884 A-11 45,720,397.79 7.500000% 156,027.73 285,752.49 441,780.22 0.00 0.00 45,564,370.07
1885 PO-1 121,200.89 n/a 351.13 n/a 351.13 0.00 n/a 121,088.53
1886 PO-2 195,160.16 n/a 751.43 n/a 751.43 0.00 n/a 194,408.73
1887 X-1 323,166,297.96 1.099030% n/a 295,686.34 295,686.34 n/a 0.00 323,168,297.96
1888 X-2 35,699,826.33 0.701294% n/a 20,832.63 20,832.63 n/a 0.00 35,580,902.95
l889 A-R 0.00 7.500000% 0.00 2.94 2.94 0.00 0.00 0.00
1890 B-1a 16,594,637.07 7.500000% 9,960.24 103,716.48 113,676.72 0.00 0.00 16,584,684.39
1891 B-1b 6,987,210.36 7.500000% 4,193.78 43,670.06 47,863.84 0.00 0.00 6,983,019.77
1892 B-1c 5,240,432.69 7.500000% 3,145.35 32,752.70 35,898.05 0.00 0.00 5,237,289.72
1893 B-1d 2,620,216.34 7.500000% 1,572.68 16,376.35 17,949.03 0.00 0.00 2,618,644.85
1894 B-1e 698,731.00 7.500000% 419.38 4,367.07 4,786.45 0.00 0.00 698,311.92
1895 B-1f 1,921,560.08 7.500000% 1,153.34 12,009.75 13,163.09 0.00 0.00 1,920,407.63
1896 B-2a 1,869,037.40 7.500000% 5,714.37 11,681.48 17,395.85 0.00 0.00 1,863,323.03
1897 B-2b 498,390.31 7.500000% 1,523.77 3,114.94 4,638.71 0.00 0.00 496,866.54
1898 B-2c 373,768.16 7.500000% 1,142.75 2,336.05 3,478.80 0.00 0.00 372,625.40
1899 B-2d 174,451.34 7.500000% 533.37 1,090.32 1,623.69 0.00 0.00 173,917.98
1900 B-2e 99,658.41 7.500000% 304.69 622.87 927.56 0.00 0.00 99,353.72
1901 B-2f 224,392.52 7.500000% 686.06 1,402.45 2,088.51 0.00 0.00 223,706.47
Totals 382,284,542.49 3,589,733.65 2,707,033.49 6,296,767.14 379,209,171.48
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Class Information Factors per $1,000
Unpaid Principal Interest Ending
Class Code Name Interest Dist. Dist. Cert. Bal.
<S> <C> <C> <C> <C> <C>
1874 A-1 0.00 58.82791399 3.96285567 650.93728167
1875 A-2 0.00 0.00000000 5.87500013 1000.00000000
1876 A-3 0.00 0.00000000 5.95833349 1000.00000000
1877 A-4 0.00 0.00000000 6.08333333 1000.00000000
1878 A-5 0.00 27.49558122 6.48260369 836.85156137
1879 A-6 0.00 0.00000000 6.25000000 1000.00000000
1880 A-7 0.00 0.00000000 6.25000000 1000.00000000
1881 A-8 0.00 0.00000000 6.25000021 1000.00000000
1882 A-9 0.00 0.00000000 6.25000000 1000.00000000
1883 A-10 0.00 0.00000000 6.25000000 1000.00000000
1884 A-11 0.00 3.30450326 6.05193743 965.00547320
1885 PO-1 0.00 2.87441571 0.00000000 991.25330517
1886 PO-2 0.00 3.76649090 0.00000000 974.46031157
1887 X-1 0.00 0.00000000 0.86093612 940.94823145
1888 X-2 0.00 0.00000000 0.56351366 962.44808309
1889 A-R 0.00 0.00000000 29.40000000 0.00000000
1890 B-1a 0.00 0.59818028 6.22888132 996.02330144
1891 B-1b 0.00 0.59817998 6.22888074 996.02330229
1892 B-1c 0.00 0.59817999 6.22888061 996.02330075
1893 B-1d 0.00 0.59818169 6.22888061 996.02329695
1894 B-1e 0.00 0.59825963 6.22977175 996.16536377
1895 B-1f 0.00 0.59818212 6.22888114 996.02330304
1896 B-2a 0.00 3.00487592 6.14265131 979.81965122
1897 B-2b 0.00 3.00487586 6.14265431 979.81963137
1898 B-2c 0.00 3.00487584 6.14265054 979.81962441
1899 B-2d 0.00 3.00487571 6.14264789 979.81958432
1900 B-2e 0.00 3.00487609 6.14270217 979.81970851
1901 B-2f 0.00 3.00488809 6.14266380 979.82361851
Totals
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Original Payment Information
Class Information
Original Pass Thru Cusip
Type Name Cert. Bal. Rate Numbers
<S> <C> <C> <C> <C> <C>
Senior A-1 37,718,000.00 6.700000% 1226691-UR3
A-2 37,967,000.00 7.050000% 1226691-US1
A-3 31,953,000.00 7.150000% 1226691-UT9
A-4 30,594,000.00 7.300000% 1226691-UU6
A-5 43,039,000.00 9.000000% 1226691-UV4
A-6 26,625,000.00 7.500000% 122669l-UW2
A-7 74,602,000.00 7.500000% 1226691-UX0
A-8 11,746,846.00 7.500000% 1226691-UY8
A-9 15,000,000.00 7.500000% 1226691-UZ5
A-10 7,000,000.00 7.500000% 1226691-VA9
A-11 47,216,696.00 7.500000% 1226691-VB7
PO-1 122,157.00 0.000000% 1226691-VC5
PO-2 199,504.00 0.000000% 1226691-VD3
X-1 343,447,479.00 1.100000% 1226691-VE1
X-2 36,969,166.00 0.700000% 1226691-VF8
Residual A-R 100.00 7.500000% 1226691-VG6
Subordinate B-1a 16,650,900.00 7.500000% 1226691-VH4
B-lb 7,010,900.00 7.500000% 1226691-VJ0
B-1c 5,258,200.00 7.500000% 1226691-VK7
B-1d 2,629,100.00 7.500000% n/a
B-1e 701,000.00 7.500000% n/a
B-1f 1,928,075.00 7.500000% n/a
B-2a 1,901,700.00 7.500000% 1226691-VL5
B-2b 507,100.00 7.500000% 1226691-VM3
B-2c 380,300.00 7.500000% 1226691-VN1
B-2d 177,500.00 7.500000% n/a
B-2e 101,400.00 7.500000% n/a
B-2f 228,313.00 7.500000% n/a
Totals - 401,257,791.00 - -
- --------------------------------------- ------------------------ ----------------- -------------------
</TABLE>
<TABLE>
<CAPTION>
Aggregate Certificate Information
- --------------- --------------- ---------------- --------------- -------------- ------------------- -------------------
Class Group 1 Agg. Group 1 Agg. Group 1 Agg. Group 2 Agg. Group 1 Agg. End. Group 2 Agg. End.
Type Percentages Percentages Prepay. Pct. Prepay. Pct. Cert. Bal. Cert. Bal.
- --------------- --------------- ---------------- --------------- -------------- ------------------- -------------------
<S> <C> <C> <C> <C> <C> <C>
Senior 89.771183% 93.382982% 100.000000% 100.000000% 331,569,559.94 45,758,778.80
Subordinate 10.228817% 6.617018% 0.000000% 0.000000% 35,905,634.26 3,229,793.13
- --------------- --------------- ---------------- --------------- -------------- ------------------- -------------------
</TABLE>
<PAGE>
INDEPENDENT NATIONAL MORTGAGE CORP.
Mortgage Pass-Through Certificates, Series 1996-G
- ----------------------- ----------------------------------- -------------------
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 COLLATERAL INFORMATION
Group 1 Group 2 Total
------- ------- -----
<S> <C> <C> <C>
Aggregate stated principal balance 333,643,649.01 49,155,255.79 382,798,904.80
Aggregate loan count 2,730 438 3,168
Weighted average remaining term 356.00 176.00 332.75
Weighted average loan rate 8.945788% 8.363550% 8.878366%
Aggregate prepayment amount 3,222,515.66 16,242.73 3,238,758.39
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 FEES & ADVANCES
Group 1 Group 2 Total
------- ------- -----
<S> <C> <C> <C>
Monthly master servicer fees 34,754.55 5,120.34 39,874.89
Monthly servicer fees 69,509.10 10,240.68 79,749.78
Monthly trustee fees 2,502.33 368.66 2,870.99
Aggregate advances 38,645.05 3,453.24 42,098.29
Aggregate recoveries 0.00 0.00 0.00
Outstanding advances 44,786.79 4,048.49 48,835.28
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 LOSSES & INSURANCE COVERAGES
Group 1 Group 2 Total
------- ------- -----
<S> <C> <C> <C>
Net realized losses (this period) 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Special Hazard Bankruptcy Fraud
<S> <C> <C> <C>
Net principal losses 0.00 0.00 0.00
Net interest losses 0.00 0.00 0.00
Excess losses 0.00 0.00 0.00
Loss coverage amount 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 DELINQUENCY INFORMATION
Period Loan Count Ending Stated Balance
<S> <C> <C>
1 mo. 40 5,571,152.34
2 mos. 5 1,152,128.71
3+ mos. 5 494,372.16
In foreclosure 5 673,919.87
In Bankruptcy 0 0.00
Totals 55 7,891,573.08
-- ------------
12 month rollover delinquency 7 817,490.65
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 REO INFORMATION
Reo Date Loan Number Ending Stated Balance Book Value
<S> <C> <C> <C>
n/a - 0.00 0.00
n/a - 0.00 0.00
n/a - 0.00 0.00
n/a - 0.00 0.00
n/a - 0.00 0.00
n/a - 0.00 0.00
n/a - 0.00 0.00
Totals 0 0.00 0.00
- ---- ----
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 5.01 OTHER INFORMATION
Group 1 Group 2 Total
------- ------- -----
<S> <C> <C> <C>
Available remittance amount 5,800,321.88 493,548.17 6,293,870.05
Principal remittance amount 3,423,049.48 166,684.17 3,589,733.65
Interest remittance amount 2,377,272.40 326,864.00 2,704,136.40
Transfer Balance 0.00 0.00 0.00
</TABLE>
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