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-J)
(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>
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-J
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AIND SERVICING AGREEMENT DATED MARCH 1, 1996
CUSIP #126691 Distribution Date 11/25/96
SINGLE TOTAL
Reduction of the Stated Amount of CERTIFICATE AMOUNT
Certificates
Class A-1 Certificates YH1 $25.66657340 $751,286.27
Class A-2 Certificates. YJ7 $0.00000000 $0.00
Class A-3 Certificates. YK4 $0.00000000 $0.00
Class A-4 Certificates. YL2 $0.00000000 $0.00
Class A-5 Certificates. YM0 $0.00000000 $0.00
Class A-6 Certificates. YN8 $0.00000000 $0.00
Class A-7 Ccntificates. YP3 $0.00000000 $0.00
Class A-8 Certificates. YQ1 $0.00000000 $0.00
Class A-9 Certificates. YR9 $0.00000000 $0.00
Class A-10 Certificates. YS7 $19.99689236 $341,493.76
Class A-11 Certificates. YT5 $0.00000000 $0.00
Class PO Certificates. YV0 $0.80806879 $198.05
Class A-R Ccriificatcs. YU2 $0.00000000 $0.00
Class X Ccrtificates YW8 $0.00000000 $0.00
Class B-1 Certificates. YX6 $0.54930218 $4,242.81
Class B-2 Certificates. YY4 $0.54930088 $2,121.40
Class B-3 Ccrtificatcs. YZ1 $0.54929992 $1,326.01
Class B-4 Certificates. N/A $0.54930249 $795.39
Class B-5 Certificates. N/A $0.54930052 $212.03
Class B-6 Certificates. N/A $0.54930170 $583.72
Total 1,102,259.44
Aggregate amount of any Principal $997,663.56
Prepayments
SINGLE TOTAL
Amounts distributed representing interest CERTIFICATE AMOUNT
Class A-1 Certificates. $5.42560486 $158,812.88
Class A-2 Certificates. $6.16666652 $143,128.33
Class A-3 Certificates. $6.35416649 $121,745.83
Class A-4 Certificates. $6.35416695 $56,329.69
Class A-5 Certificates. $6.35416637 $89,295.10
Class A-6 Certificates. $6.35416700 $63,541.67
Class A-7 Ceriificatts. $6.35416650 $64,342.29
Class A-8 Certificates. $0.12083350 $2,416.67
Class A-9 Certificates. $6.16666650 $123,333.33
Class A-10 Certificates. $7.09218967 $121,297.72
Class A-11 Certificates. $6.35416687 $153,605.63
Class PO Certificates. $0.00000000 $0.00
Class A-R Certificates. $7.30000000 $0.73
Class X Certificates. $0.96480558 $179,991.55
Class B-1 Certificates. $6.34733687 $49,026.83
Class B-2 Certificates. $6.34733558 $24,513.41
Class B-3 Certificates. $6.34733637 $15,322.47
Class B-4 Certificates. $6.34733425 $9,190.94
Class B-5 Certificates. $6.34733161 $2,450.07
Class B-6 Certificates. $6.34733673 $6,745.05
Total 1,385,090.19
Amount of shortfall which is less than the full amount that would be
disbributed:
Principal $0.00
Interest $0.00
<TABLE>
<CAPTION>
ORIGINAL SINGLE TOTAL
Stated Amount of Certificates after this BALANCE CERTIFICATE AMOUNT
Distribution Date
<S> <C> <C> <C>
Class A-1 Certificates. 29,271,000.00 $904.43710772 $26,473,778.58
Class A-2 Certificates. 23,210,000.00 $1,000.00000000 $23,210,000.00
Class A-3 Certificates. 19,160,000.00 $1,000.00000000 $19,160,000.00
Class A-4 Certificates. 8,865,000.00 $1,000.00000000 $8,865,000.00
Class A-5 Certificates. 14,053,000.00 $1,000.00000000 $14,053,000.00
Class A-6 Certificates. 10,000,000.00 $1,000.00000000 $10,000,000.00
Class A-7 Ceriificatts. 10,126,000.00 $1,000.00000000 $10,126,000.00
Class A-8 Certificates. 20,000,000.00 $1,000.00000000 $20,000,000.00
Class A-9 Certificates. 20,000,000.00 $1,000.00000000 $20,000,000.00
Class A-10 Certificates. 17,103,000.00 $925.65840613 $15,831,535.72
Class A-11 Certificates. 24,174,000.00 $1,000.00000000 $24,174,000.00
Class PO Certificates. 245,090.52 $997.42062647 $244,458.34
Class A-R Certificates. 100.00 $1,000.00000000 $100.00
Class X Certificates. 186,557,327.00 $978.12418742 $182,476,233.88
Class B-1 Certificates. 7,724,000.00 $998.37577162 $7,711,454.46
Class B-2 Certificates. 3,862,000.00 $998.37577421 $3,855,727.24
Class B-3 Certificates. 2,414,000.00 $998.37577465 $2,410,079.12
Class B-4 Certificates. 1,448,000.00 $998.37577348 $1,445,648.12
Class B-5 Certificates. 386,000.00 $998.37575130 $385,373.04
Class B-6 Certificates. 1,062,658.29 $998.37577139 $1,060,932.29
Total $189,007,086.91
</TABLE>
The Pool Stated Principal Balance for the following Distribution Date:
$189,007,086.91
Senior Percentage for the following Distribution Date 90.94543333751%
Subordinated Percentage for the following 9.0545666249%
Distribution Date
Amount of the Master Servicing Fees paid to or retained by the $59,768.68
Master Servicer with respect to such Distribution Date
Pass-Through Rate for each such Class of
Certificates
Class A-1 Certificates. 7.00000%
Class A-2 Certificates. 7.40000%
Class A-3 Certificates. 7.62500%
Class A-4 Certificates. 7.62500%
Class A-5 Certificates. 7.62500%
Class A-6 Certificates. 7.62500%
Class A-7 Ceriificatts. 7.62500%
Class A-8 Certificates. 0.00000%
Class A-9 Certificates. 7.40000%
Class A-10 Certificates. 9.00000%
Class A-11 Certificates. 7.62500%
Class PO Certificates. 0.00000%
Class A-R Certificates. 8.76000%
Class X Certificates. 0.00000%
Class B-1 Certificates. 7.62500%
Class B-2 Certificates. 7.62500%
Class B-3 Certificates. 7.62500%
Class B-4 Certificates. 7.62500%
Class B-5 Certificates. 7.62499%
Class B-6 Certificates. 7.62500%
Amount of Advances included in the distribution on this $17,343.34
Distribution Date
Aggregate amount of Advances outstanding as of the close of $20,743.44
business on such Distribuiton Date
A. The number and aggregate principal amounts of Mortgage Loans
delinquent
30 to 59 days 8 $1,716,319.53
60 to 89 days 4 $402,032.70
90 or more 0 $0.00
B. The number and aggregate principal amounts of Mortgage Loans in
foreclosure
In foreclosure 0 $0.00
Loan number and Stated Principal Balance for any Mortgage loan that became an
REO Property during the preceding calendar month. 0 $0.00
Total number and principal balance of any REO Properties as of the close of
business on the Determination Date preceding such Distribuiton Date.
$0.00
Senior Prepayment Percentage for following Distribution Date 100.00000/%.
Aggregate amount of Realized Losses incurred during preceding month $0.00
Aggregate amount of Realized Losses through Distribution Date $0.00
Special Hazard Loss Coverage Amount $1,909,672.00
Required Fraud Loss Coverage $5,793,115.00
Current Bankruptcy Coverage $125,000.00
