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-L)
(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)
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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
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Name: Jonathan Chayes
Assistant Treasurer
The Bank of New York,
as Trustee
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EXHIBIT INDEX
Exhibit Page
1. Monthly Remittance Statement dated 5
November 25, 1996
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INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFIATES, SERIES 1996-L
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<TABLE>
<CAPTION>
Current Payment Information
Beginning Pass Thru Principal Interest. Total Principal Interest
Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C>
A-1 122,347,000.00 8.000000% 2,546,839.54 815,646.67 3,362,486.21 0.00 0.00
A-2 4,272,000.00 8.000000% 0.00 28,480.00 28,480.00 0.00 0.00
A-3 18,040,000.00 8.000000% 0.00 120,266.67 120,266.67 0.00 0.00
A-4 9,548,000.00 8.000000% 0.00 63,653.33 63,653.33 0.00 0.00
A-5 25,000,000.00 8.000000% 0.00 166,666.67 166,666.67 0.00 0.00
PO 63,680.00 0.000000% 42.73 0.00 42.73 0.00 0.00
x 185,515,817.00 0.775291% 0.00 119,857.24 119,857.24 0.00 0.00
A-R 100.00 8.000000% 0.00 0.75 0.75 0.00 0.00
B-1 6,857,000.00 8.000000% 3,625.48 45,713.33 49,338.81 0.00 0.00
B-2 3,918,000.00 8.000000% 2,071.55 26,120.00 28,191.55 0.00 0.00
B-3 2,743,000.00 8.000000% 1,450.30 18,286.67 19,736.96 0.00 0.00
B-4 1,568,000.00 8.000000% 829.04 10,453.33 11,282.38 0.00 0.00
B-5 392,000.00 8.000000% 207.26 2,613.33 2,820.59 0.00 0.00
B-6 1,175,641.00 8.000000% 621.59 7,837.61 8,459.20 0.00 0.00
195,924,421.00 - 2,555,687.49 1,425,595.60 3,981,283.09 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Factors per $1,000
Ending Cert./ Unpaid Principal Interest. Ending
Name Notional Bal. Interest Dist. Dist. Cert. Bal.
<S> <C> <C> <C> <C> <C>
A-1 119,800,160.46 0.00 20.81652630 6.66666667 979.18347370
A-2 4,272,000.00 0.00 0.00000000 6.66666667 1000.00000000
A-3 18,040,000.00 0.00 0.00000000 6.66666667 1000.00000000
A-4 9,548,000.00 0.00 0.00000000 6.66666667 1000.00000000
A-5 25,000,000.00 0.00 0.00000000 6.66666667 1000.00000000
PO 63,637.271 0.00 0.67101131 0.00000000 999.32898869
x 185,515,817.00 0.00 0.00000000 0.64607559 1000.00000000
A-R 100.00 0.00 0.00000000 7.50000000 1000.00000000
B-1 6,853,374.52 0.00 0.52872622 6.66666667 999.47127378
B-2 3,915,928.45 0.00 0.52872622 6.66666667 999.47127378
B-3 2,741,549.70 0.00 0.52872622 6.66666667 999.47127378
B-4 1,567,170.96 0.00 0.52872622 6.66666667 999.47127378
B-5 391,792.74 0.00 0.52872622 6.66666667 999.47127378
B-6 1,175,019.41 0.00 0.52872622 6.66666667 999.47127378
193,368,733.51 0.00 13.04425184 7.27625270 986.9557481556
</TABLE>
