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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): November 25, 1996
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1996-CHL1)
(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-CHL1
On November 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-CHL1, 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-CHL1 relating to the distribution
date of November 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: 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
GREENWICH CAPITAL ACCEPTANCE, INC.
Mortgage Pass-Through Certificates, Series 1996-CHL1
Countrywide Home Loans, as Servicer
<TABLE>
<CAPTION>
Class Information Current Payment Information
Type Name Beg Certificate/ Pass Thru Rate Principal Dist. Interest Total
Notional Bal. Amt. Dist. Amt. Dist.
<S> <C> <C> <C> <C> <C> <C>
Senior A 180,882,577.58 5.787500% 3,379,099.19 901,460.98 4,280,560.17
Subordinate B-IO 182,426,404.93 3.247999% 0.00 0.00 0.00
Residual R 0.00 0.000000% n/a 0.00 0.00
Totals -- 180,882,577.58 -- 3,379,099.19 901,460.98 4,280,560.17
</TABLE>
<TABLE>
<CAPTION>
Class Information Current Payment Information
Class Code Name Cert. Bal. Pass Thru Cusips
<S> <C> <C> <C> <C>
A 187,965,310.34 5.818750% 396782ES9
B-IO 187,965,310.34 3.165104% n/a
R 0.00 0.000000% n/a
Totals -- 187,965,310.34 -- --
</TABLE>
<TABLE>
<CAPTION>
Class Information Factors per $1,000
Type Name End Certificate/ Principal Interest Ending
Notional Bal. Dist. Dist. Cert. Bal.
<S> <C> <C> <C> <C> <C>
Senior A 177,503,478.39 17.9772490 4.7958901 944.3416877
Subordinate B-IO 179,495,956.97 .0000000 .0000000 954.9419339
Residual R 0.00 .0000000 .0000000 .0000000
Totals -- 177,503,478.39 17.9772490 4.7958901 22.7731392
</TABLE>
Losses and Unpaid Amounts
Name Carry Forward Interest Unpaid Interest
Amount Shortfalls Shortfalls
A 0.00 0.00 0.00
B-IO n/a 0.00 0.00
R n/a n/a n/a
-- -- --
<PAGE>
THE BANK OF NEW YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Milton Vescovacci, MBS Unit
(212) 815-2526
GREENWICH CAPITAL ACCEPTANCE, INC.
Mortgage Pass-Through Certificates, Series 1996-CHL1
Countrywide Home Loans, as Servicer
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 ENDING COLLATERAL INFORMATION
<S> <C>
Aggregate stated principal balance 179,495,956.97
Loan count 1713
Weighted average remaining term 354
Weighted average coupon rate 9.549594%
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 FEES & ADVANCES
Servicer Insurer
<S> <C> <C>
Monthly Fees 72,888.61 25,625.03
Advances (this period) 76,801.21
Recoveries (this period) 0.00
Outstanding advances 76,801.21
---------
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 OTHER INFORMATION
<S> <C>
Available funds 4,306,185.43
Insured payments 0.00
Aggregate prepayments 2,832,330.98
Required subordination amount 5,638,959.31
Subordination deficit 0.00
Class B-IO optimal interest dist. amount 470,066.25
Subordination increase amount 448,651.23
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 DELINQUENCY INFORMATION (as of the Due Date)
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
<S> <C> <C>
31-60 days 47 5,247,664.72
61-90 days 13 1,271,451.72
91+ days 3 268,349.45
In foreclosure 18 1,849,830.64
Totals 81 8,637,296.53
-- ------------
</TABLE>
P&S Ref.
Sec. 4.05 REO INFORMATION
REO Date Loan Number Ending Stated Balance
-------- ----------- ---------------------
-- 0.00
-- 0.00
-- 0.00
-- 0.00
Totals 0 0.00
- ----
P&S Ref.
Sec. 4.05 LIQUIDATED LOAN INFORMATION
Loan Number Stated Principal Balance Realized Loss
----------- ------------------------ -------------
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
-- 0.00 0.00
Totals 0.00 0.00
---- ----
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