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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 1996-2)
(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 1996-2, 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 1996-2 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
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 1996-02 CUSIP #126691
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICING AGREEMENT DATED MARCH 1, 1996
CUSIP #126691
Distribution Date 12/25/96
<TABLE>
<CAPTION>
SINGLE TOTAL
4.04(i) Reduction of the Stated Amount of Certificates CERTIFICATE AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates. XE9 $11.23285597 137,029.61
Class A-2 Certificates. XF6 $16.43077764 581,468.79
Class A-3 Certificates. XG4 $0.00000000 0.00
Class A-4 Certificates. XH2 $11.23285618 348,881.28
Class A-5 Certificates. XJ8 $0.00000000 0.00
Class A-6 Certificates. XK5 $0.00000000 0.00
Class A-7 Certificates. XL3 $0.00000000 0.00
Class A-8 Certificates. XM1 $0.00000000 0.00
Class A-9 Certificates. XN9 $0.66191850 6,724.43
Class A-10 Certificates. XP4 $0.66191961 4,034.40
Class PO Certificates. XQ2 $0.88004779 831.86
Class X Certificates. (Notional) XR0 N/A N/A
Class AR Certificates. XS8 $0.00000000 0.00
Class B-1 Certificates. XT6 $0.66192130 2,153.23
Class B-2 Certificates. XU3 $0.66191781 1,884.48
Class B-3 Certificates. XV1 $0.66191940 969.05
Class B-4 Certificates. XW9 $0.66191598 646.03
Class B-5 Certificates. XX7 $0.66192623 161.51
Class B-6 Certificates. XY5 $0.66191754 377.91
Total Amount 1,085,162.58
Aggregate amount of any Principal Prepayments 978,512.28
</TABLE>
<TABLE>
<CAPTION>
SINGLE TOTAL
4.04(ii) Amounts distributed representing interest CERTIFICATE AMOUNT
<S> <C> <C>
Class A-1 Certificates. $6.31850480 77,079.44
Class A-2 Certificates. $5.64859391 199,898.09
Class A-3 Certificates. $5.83333354 95,526.67
Class A-4 Certificates. $4.89684150 152,091.00
Class A-5 Certificates. $2.44077723 75,808.10
Class A-6 Certificates. $6.45833314 54,437.29
Class A-7 Certificates. $6.45833353 55,806.46
Class A-8 Certificates. $6.45833326 155,264.79
Class A-9 Certificates. $6.44166257 65,440.85
Class A-10 Certificates. $6.44166366 39,261.94
Class PO Certificates. $0.00000000 0.00
Class X Certificates. (Notional) $0.41085823 50,982.91
Class AR Certificates. $0.00000000 0.00
Class B-1 Certificates. $6.44166308 20,954.73
Class B-2 Certificates. $6.44166140 18,339.41
Class B-3 Certificates. $6.44153689 9,430.41
Class B-4 Certificates. $6.44165984 6,287.06
Class B-5 Certificates. $6.44168033 1,571.77
Class B-6 Certificates. $6.44165872 3,677.75
Total Amount 1,081,858.67
</TABLE>
<PAGE>
4.04(iii) Amount of shortfall which is less than the full amount that
would be distributed:
Principal 0.00
Interest 0.00
<TABLE>
<CAPTION>
ORIGINAL SINGLE TOTAL
4.04(iv) Stated Amount of Certificates after BALANCE CERTIFICATE AMOUNT
this Distribution
<S> <C> <C> <C>
Class A-1 Certificates. $12,199,000.00 $967.11630216 11,797,851.77
Class A-2 Certificates. $35,389,000.00 $951.89961231 33,686,775.38
Class A-3 Certificates. $16,376,000.00 $1,000.00000000 16,376,000.00
Class A-4 Certificates. $31,059,000.00 $967.11630188 30,037,665.22
Class A-5 Certificates. $31,059,000.00 $967.11630220 30,037,665.23
Class A-6 Certificates. $8,429,000.00 $1,000.00000000 8,429,000.00
Class A-7 Certificates. $8,641,000.00 $1,000.00000000 8,641,000.00
Class A-8 Certificates. $24,041,000.00 $1,000.00000000 24,041,000.00
Class A-9 Certificates. $10,159,000.00 $996.75685107 10,126,052.85
Class A-10 Certificates. $6,095,000.00 $996.75684988 6,075,233.00
Class PO Certificates. $945,244.12 $995.45766019 940,950.50
Class X Certificates. (Notional) $124,088,814.09 $975.51287429 121,050,235.70
Class AR Certificates. $100.00 $0.00000000 0.00
Class B-1 Certificates. $3,253,000.00 $996.75684599 3,242,450.02
Class B-2 Certificates. $2,847,000.00 $996.75685634 2,837,766.77
Class B-3 Certificates. $1,464,000.00 $996.75684426 1,459,252.02
Class B-4 Certificates. $976,000.00 $996.75685451 972,834.69
Class B-5 Certificates. $244,000.00 $996.75680328 243,208.66
Class B-6 Certificates. $570,932.14 $996.75684750 569,080.52
Total Amount 159,476,121.40
</TABLE>
4.04(v) The Pool Stated Principal Balance for the following
Distribution Date: 159,476,121.43
<TABLE>
<CAPTION>
<S> <C> <C>
4.04(vi) Senior Percentage for the following Distribution Date 83.40389220%
Subordinated Percentage for the following Distribution Date 6.37674401%
Class A-9 and A-10 Percentage for the following Distribution Date 10.21936379%
4.04(vii) Amount of the Master Servicing Fees paid to or retained by the Master Servicer with
respect to such Distribution Date 32,289.27
</TABLE>
<TABLE>
<CAPTION>
4.04(viii) Pass-Through Rate for each such Class of Certificates
<S> <C>
Class A-1 Certificates. 7.75000%
Class A-2 Certificates. 7.00000%
Class A-3 Certificates. 7.00000%
Class A-4 Certificates. 6.00625%
Class A-5 Certificates. 3.02852%
Class A-6 Certificates. 7.75000%
Class A-7 Certificates. 7.75000%
Class A-8 Certificates. 7.75000%
Class A-9 Certificates. 7.75000%
Class A-10 Certificates. 7.75000%
Class PO Certificates. 0.00000%
Class X Certificates. (Notional) 0.50541%
Class AR Certificates. 0.00000%
Class B-1 Certificates. 7.75000%
Class B-2 Certificates. 7.75000%
Class B-3 Certificates. 7.74985%
Class B-4 Certificates. 7.75000%
Class B-5 Certificates. 7.75002%
Class B-6 Certificates. 7.75000%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
4.04(ix) Amount of Advances included in the distribution of this Distribution Date 3,813.51
Aggregate amount of Advances outstanding as of the close of business on
such Distribution Date. 3,813.51
</TABLE>
4.04(x) A. The number and aggregate principal amounts of Mortgage
Loans delinquent
30 to 59 days 1 540,891.86
60 to 89 days 0 0.00
90 or more 0 0.00
B. The number and aggregate principal amounts of Mortgage
Loans in foreclosure and delinquent
In Foreclosure 2 631,535.01
<TABLE>
<CAPTION>
<S> <C> <C> <C>
4.04(xi) Loan number and Stated Principal Balance for any Mortgage loan that became an None 0.00
REO Property during the preceding calendar month.
4.04(xii) Total number and principal balance of any REO Properties as of the close of 0.00
business on the Determination Date preceding such Distribution Date.
4.04(xiii) Senior Prepayment Percentage for following Distribution Date 100.00%
Subordinated Prepayment Percentage for the following Distribution Date 0.00%
Class A-9 and A-10 Prepayment Percentage for the following Distribution Date 0.00%
4.04(xiv) Aggregate amount of Realized Losses incurred during preceding month 0.00
Aggregate amount of Realized Losses through Distribution 0.00
4.04(xv) Special Hazard Loss Coverage Amount 2,232,193.00
Required Fraud Loss Coverage 3,253,766.00
Current Bankruptcy Coverage 100,000.00
</TABLE>
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