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): October 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-B)
(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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Item 5. Other Events
CWMBS, INC.
Mortgage Pass-Through Certificates
Series 1996-B
On October 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-B, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of January 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-A relating to the distribution date
of October 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of January 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: October 25, 1996
CSMBS, INC.
By: /s/ Jonathan Chayes
-------------------
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
October 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-B
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICING AGREEMENTS DATED FEBRUARY 1, 1996
CUSIP #126691
Distribution Date 10/25/96
4.06(i)
Reduction of the
Stated Amount of Certificates CERTIFICATE AMOUNT
Class A-1 Certificates. RH9 $6.18094006 $579,982.33
Class A-2 Certificates. RJ5 $0.00000000 $0.00
Class A-3 Certificates. RK2 $3.04650958 $37,688.37
Class X Certificates. RM8 N/A N/A
Class A-R Certificates. RN6 $0.00000000 $O.00
Class B-1 Certificates. RPI $3.04650872 $11,031.60
Class B-2 Certificates. RQ9 $3.04651181 $4,596.51
Class B-3 Certificates. RR7 $3.04651088 $2,757.79
Class B-4 Certificates. $3.04651548 $1,286.97
Class B-5 Certificates. $3.04649984 $919.26
Class B-6 Certificates. $3,04651920 $1,471.09
Total Amount 639,733.92
Aggregate amount of any Principal Prepayments 405,902.18
4.06(ii)
Amount of distribution SINGLE TOTAL
representing interest. CERTIFICATE AMOUNT
Class A-1 Certificates. $5.13269135 $481,620.96
Class A-2 Certificates. $5.52083310 $40,026.04
Class A-3 Certificates. $5.41094738 $66,938.83
Class X Certificates. $1.18086862 $142,527.57
Class A-R Certificates. $0.00000000 $0.00
Class B-1 Certificates. $5.41094701 $19,593.38
Class B-2 Certificates. $5.41094846 $8,163.92
Class B-3 Certificates. $5.41095126 $4,898.15
Class B-4 Certificates. $5.41094593 $2,285.80
Class B-5 Certificates. $5.41096231 $1,632.72
Class B-6 Certificates. $5.41093735 $2,612.81
Total Amount 770,300.18
4.06(iii) Amount of interest shortfall 0.00
4.06(iv)
Stated Amount of Certificates ORIGINAL SINGLE TOTAL
after this Distribution BALANCE CERTIFICATE AMOUNT
Class A-1 Certificates. 93,834,000.00 $923.51409478 $86,657,021.57
Class A-2 Certificates. 7,250,000.00 $1,000.00000000 $7,250,000.00
Class A-3 Certificates. 12,371,000.00 $977.04967666 $12,087,081.55
Class X Certificates. 120,697,228.67 $936.80711526 $113,070,022.61
Class A-R Certificates. 100.00 $0.00000000 $0.00
Class B-1 Certificates. 3,621,063.00 $977.04967851 $3,537,958.44
Class B-2 Certificates. 1,508,778.00 $977.04967861 $1,474,151.06
Class B-3 Certificates, 905,229.00 $977.04967472 $884,453.70
Class B-4 Certificates. 422,440.00 $977.04968753 $412,744.87
Class B-5 Certificates. 301,743.00 $977.04970786 $294,817.91
Class B-6 Certificates. 482,875.67 $977.04970308 $471,793.53
Total $113,070,022.63
4.06(v) The Pool Stated Principal Balance for
the following Distribution Date $113,070,022.61
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4.06(vi) Senior Percentage for this Distribution Date 93.8390100507%
Date Subordinated Percentage for this
Distribution Date 6.1609899493%
4.06(vii) Amount of the Master Servicing Fees paid
to or retained by the Master Servicer with
respect to such Distribution Date 36,402.30
4.06(viii) Pass-Through Rate
and for each Class of Certificates
Class A-1 Certificates 6.62500000%
Class A-2 Certificates 6.62500000%
Class A-3 Certificates 6.62500000%
Class X Certificates 1.47111314%
Class A-R Certificates 6.62500000%
Class B-1 Certificates 6.62500000%
Class B-2 Certificates 6.62500000%
Class B-3 Certificates 6.62500000%
Class B-4 Certificates 6.62500000%
Class B-5 Certificates 6.62500000%
Class B-6 Certificates 6.62500000%
4.06(ix) Amount of Advances included in the distribution
on such Distribution Date sold 20,812.17
Aggregate amount of Advances outstanding as of
the close of business on such Distribution Date 35,068.89
4.06(x) The number and aggregate principal amounts
of Mortgage Loans delinquent
30 to 59 days 10 $1,084,643.87
60 to 89 days 3 $486,749.77
90 or more 3 $446,905.64
The number and aggregate principal amounts
of Mortgage Loans in foreclosure
In foreclosure 2 $329,628.50
4.06(xi) The aggregate dollar amount of Scheduled
Payments for each of Mortgage Loan for
the proceeding 12 calender months or all
calender months since cut-off date
(a) All outsanding Mortgage loans
on each Due Date 0.00
(b) Delinquent 60 days or more on
each of the Due Dates 0.00
4.06(xii) Loan number and Stated Principal Balance of
any Mortgage loan that became an REO
Property during the preceding calendar month. 0 $0.00
4.06(xiii) Total number and principal balance of any
REO Properties as of the close of business
on the Determination Date preceding such
Distribution Date 0 $0.00
4.06(xiv) Senior Prepayment Percentage 100.0000000000%
4.06(xv) Aggregate amount of Realized Losses incurred
during the preceding calendar month $0.00
Aggregate amount of Realized Losses
through Distribution Date $0.00
4.06(xvi) Special Hazard Loss Coverage Amount 1,162,609.99
Required Fraud Loss Coverage 2,413,945.00
Current Bankruptcy Amount 75,000.00
