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-A
(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-A, 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 December 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of December 25, 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
Page Number: 1
Payment Date: 12/26/96
Accrual Period: 11/25/96 thru 12/25/96
GREENWICH CAPITAL ACCEPTANCE, INC.
Mortgage Pass-Through Certificates, Series 1996-CHL1
Countrywide Home Loans, as Servicer
<TABLE>
<CAPTION>
Class Information Current Payment Information
Beg Certificate/ Pass Principal Interest
Type Name Notional Bal. Thru Rate Dist. Amt. Dist. Amt.
- ------------------- ------------------- ------------------ ------------------ ------------------- ------------------
<S> <C> <C> <C> <C> <C>
Senior A 177,503,478.38 5.787500% 5.862,519.59 884,620.63
Subordinate B-IO 179,495,956.97 3.361992% n/a 0.00
- ------------------- ------------------- ------------------ ------------------ ------------------- ------------------
Residual R 0.00 0.000000% n/a 0.00
- ------------------- ------------------- ------------------ ------------------ ------------------- ------------------
- ------------------- ------------------- ------------------ ------------------ ------------------- ------------------
Totals - 177,503,478.38 - 5,862,519.59 884,620.63
- ------------------- ------------------- ------------------ ------------------ ------------------- ------------------
</TABLE>
<TABLE>
<CAPTION>
Class Information Original Certificate Information
- ------------------- ------------------- ------------------ ------------------ -------------------
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
- ---------------- --------------- --------------- ------------------- ---------------- --------------- ---------------
Total End Certificate/ Principal Interest Ending
Type Name Dist. Notional Bal. Dist. Dist. Cert. Bal.
- ---------------- --------------- --------------- ------------------- ---------------- --------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
Senior A 6,747,140.22 171,640,958.79 31.1893699 4.7062973 913.1523177
Subordinate B-IO 0.00 174,117,679.66 .0000000 .0000000 926.3287962
- ---------------- --------------- --------------- ------------------- ---------------- --------------- ---------------
Residual R 0.00 n/a .0000000 .0000000 .0000000
- ---------------- --------------- --------------- ------------------- ---------------- --------------- ---------------
Totals - 6,747,140.22 171,640,958.79 31.1893699 4.7062973 35.8956672
- ---------------- --------------- --------------- ------------------- ---------------- --------------- ---------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Losses and Unpaid Amounts
- ---------------- ------------------ ------------------- ------------------
Carry Forward Interest Unpaid Interest
Name Amounts Shortfalls Shortfalls
- ---------------- ------------------ ------------------- ------------------
<S> <C> <C> <C>
A 0.00 0.00 .00
B-IO n/a 0.00 2,402,431.26
- ---------------- ------------------ ------------------- ------------------
R n/a n/a n/a
- ---------------- ------------------ ------------------- ------------------
- - -
- ---------------- ------------------ ------------------- ------------------
</TABLE>
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> <C>
Aggregate stated principal balance 174,117,679.66
Loan count 1684
Weighted average remaining term 353
Weighted average coupon rate 9.819492%
-----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 FEES & ADVANCES
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Servicer Insurer
Monthly Fees 74,789.98 25,146.33
Advances (this period) 97,795.38
Recoveries (this period) 0.00
Outstanding advances 171,448.33
----------
------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 OTHER INFORMATION
------------------------------------------------------------------------------------------------------
<S> <C> <C>
Available funds 6,772,286.55
Insured payments 0.00
Aggregate prepayments 5,287,755.08
Required subordination amount 5,638,959.31
Subordination deficit 0.00
Class B-IO optimal interest dist. amount 502,886.60
Subordination increase amount 484,242.28
-------------------------------------------- ---------------------------- ----------------------------
Lesser of:
(a) Overcollaterization Deficiency Amount 3,646,480.72
(b) Net Monthly Excess Cashflow: 484,242.28
Available Funds 6,772,286.55
Insurance Premium 25,146.33
Class A Interest Dist. Amt. 884,620.63
Class A Principal Dist. Amt. 5,378,277.31
-------------------------------------------- ---------------------------- ---------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
P&S Ref.
Sec. 4.05 DELINQUENCY INFORMATION (as of the Due Date)
-----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
31-60 days 51 5,318,976.40
61 - 90 days 25 2,951,040.62
91 + days 11 1,091,942.61
In foreclosure l6 1,620,537.54
---- ------------
Totals 103 10,982,497.17
------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
P&S Ref.
Sec. 4.05 REO INFORMATION
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
REO Date Loan Number Ending Stated Balance
-------- ----------- ---------------------
- 0.00
- 0.00
- 0.00
- 0.00
-
Totals 0 0.00
- ----
--------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<PAGE>
P&S Ref.
Sec. 4.05 Liquidated Loan Information
-----------------------------------------------------------------------------------------------------
Loan Number Stated Principal Balance Realized Loss
----------- ------------------------ -------------
<S> <C> <C> <C>
- 0.00
- 0.00 0.00
- 0.00 0.00
- 0.00 0.00
-
Totals 0 0.00
- ----
</TABLE>
