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Previous: HOUSEHOLD FINANCE CORP HOUSEHOLD AFF CRE CAR MAS TR I, 424B1, 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-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-A
On December 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 December 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: 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
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-H
<TABLE>
<CAPTION>
Current Payment Information
Class Information
Class Beginning Pass Thru Principal Interest Total Principal Interest
Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1951 A-1 25,798,848.37 6.720000% 1,456,460.73 144,473.55 1,600,934.28 0.00 0.00
1952 A-2 23,932,000.00 7.125000% 0.00 142,096.25 142,096.25 0.00 0.00
1953 A-3 22,905,000.00 7.300000% 0.00 139,338.75 139,338.75 0.00 0.00
1954 A-4 26,l66,000.00 7.500000% 0.00 163,537.50 163,537.50 0.00 0.00
1955 A-5 21,892,000.00 7.500000% 0.00 136,825.00 136,825.00 0.00 0.00
1956 A-6 11,491,000.00 7.500000% 0.00 71,818.75 71,818.75 0.00 0.00
1957 A-7 10,420,000.00 7.500000% 0.00 65,125.00 65,125.00 0.00 0.00
1958 A-8 25,000,000.00 7.600000% 0.00 158,333.33 158,333.33 0.00 0.00
1959 A-9 600,000.00 0.000000% 0.00 0.00 0.00 0.00 0.00
1960 A-10 7,354,000.00 7.500000% 0.00 45,962.50 45,962.50 0.00 0.00
1961 A-11 23,071,108.92 9.000000% 757,359.58 168,393.01 925,752.59 0.00 0.00
1962 A-12 24,500,000.00 7.500000% 0.00 153,125.00 153.125.00 0.00 0.00
1963 A-13 1,000,000.00 7.500000% 0.00 6,250.00 6,250.00 0.00 0.00
1964 PO-1 520,401.49 0.000000% 1,310.55 0.00 1,310.55 0.00 0.00
1965 X-1 222,154,087.79 1.248000% 0.00 227,816.71 227,816.71 n/a 0.00
1966 A-R 100.00 7.500000% 0.00 0.63 0.63 0.00 0.00
1967 B-1 9,536,753.80 7.500000% 5,667.08 59,569.56 65,236.64 0.00 0.00
1968 B-2 5,086,667.80 7,500000% 3,022.68 31,772.92 34,795.60 0.00 0.00
1969 B-3 3,814,501.97 7.500000% 2,266.72 23,826.58 26,093.30 0.00 0.00
1970 B-4 1,907,749.89 7.500000% 1,133.65 11,916.40 13,050.05 0.00 0.00
1971 B-5 508,866.33 7.500000% 302.39 3,178.54 3,480.93 0.00 0.00
1972 B-6 1,399,089.72 7.500000% 831.38 8,739.15 9,570.53 0.00 0.00
Totals 246,904,088.29 2,228,354.76 1,762,099.13 3,990,453,09 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Factors per $1,000
Class Information
Class Name Ending Cert./ Unpaid Principal Interest Ending
Code Notional Bal. Interest Dist. Dist. Cert. Bal.
<S> <C> <C> <C> <C> <C> <C>
1951 A-1 24,342,387.64 0.00 46.34719905 4,59740811 774.61854065
1952 A-2 23,932,000.00 0.00 0.00000000 5.93750000 1000.00000000
1953 A-3 22,905,000.00 0.00 0.00000000 6.08333333 1000.00000000
1954 A-4 26,166,000.00 0.00 0.00000000 6.25000000 1000.00000000
1955 A-5 21,892,000.00 0.00 0.00000000 6.25000000 1000.00000000
1956 A-6 11,491,000.00 0.00 0.00000000 6.25000000 1000.00000000
1957 A-7 10,420,000.00 0.00 0.00000000 6.25000000 1000.00000000
1958 A-8 25,000,000.00 0.00 0.00000000 6.33333320 1000.00000000
1959 A-9 600,000.00 0.00 0.00000000 0.00000000 1000.00000000
1960 A-10 7,354,000.00 0.00 0.00000000 6.25000000 1000.00000000
1961 A-11 21,695,041.57 0.00 29.84315470 6.63539325 854.87593861
1962 A-12 24,500,000.00 0.00 0.00000000 6.25000000 1000.00000000
1963 A-13 1,000,000.00 0.00 0.00000000 6.25000000 1000.00000000
1964 PO-1 519,090.94 0.00 2.50506858 0.00000000 992.22342073
1965 X-1 218,868,832.38 0.00 0.00000000 0.99545177 956.35376165
1966 A-R 100.00 0.00 0.00000000 6.30000000 1000.00000000
1967 B-1 9,525,462.07 0.00 0.59291484 6.23242938 996.59573865
1968 B-2 5,080,645.07 0.00 0.59291487 6.23242840 996.59573754
1969 B-3 3,809,985.51 0.00 0.59291656 6.23243003 996.59573895
1970 B-4 1,905,491,07 0.00 0.59291318 6.23242678 996.59574791
1971 B-5 508,263.82 0.00 0.59292157 6.23243137 996.59572549
1972 B-6 1,397,433,18 0.00 0.59290834 6.23242667 996.59575850
Totals 244,043,900.87 0.00 8.74243567 6.91318930 957.44992815
</TABLE>
<PAGE>
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-H
<TABLE>
<CAPTION>
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
<TABLE>
<CAPTION>
Class Aggregate Aggregate Aggregate
Type Percentages Prepay Pct. Certificate Bal.
<S> <C> <C> <C>
Senior 90.872683% 100.000000% 221,297,529.21
Subordinate 9.127317% 0.000000% 22,227,280.72
</TABLE>
<PAGE>
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1996-H
COLLATERAL INFORMATION
Aggregate stated principal balance 244,043,900.82
Aggregate loan count 1,670
Weighted average remaining term 354.00
Weighted average loan rate 8.901870%
Aggregate prepayment amount 2.081.811.48
FEES & ADVANCES
Monthly master servicer fees 25,653.36
Monthly servicer fees 51,709.62
Advances Included In this distribution 52,695.25
Aggregate Advances Outstanding 64,679.29
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 Amoun 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
<PAGE>
DELINQUENCY INFORMATION
Period Loan Count Ending Stated Balance
1 mo. 29 5,324,213.71
2 mos. 4 727,667.42
3+ mos. 3 389,175.02
In foreclosure 1 133,000.00
In Bankruptcy 0 0.00
-- ---------------
Totals 37 6,574,056.15
Aggregate Amount of the Scheduled Payments on all
60+ day delinquencies for the past 12 month rolling period 24,463.92
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 3,990,453.89
Principal remittance amount 2,228,354.76
Interest remittance amount 1,762,099.13
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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