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-E)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
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(State or other (Commission File No. (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 911009-7137
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(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-E
On November 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-E made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of March 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-E 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 March 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
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-E
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.04 OF THE
POOLING AND SERVICING AGREEMENT DATED MARCH 1, 1996
CUSIP # 126691 Distributions Date 11/25/96
<TABLE>
<CAPTION>
SINGLE TOTAL
Reduction of the Stated Amount of Certificates CERTIFICATE AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates. TJ3 $135.00832802 1,964,570.85
Class A-2 Certificates. TK0 $3.18903338 315,355.51
Class A-3 Certificates. TL8 $3.18903334 157,004.10
Class A-4 Certificates. TM6 $0.61822933 11,874.92
Class A-5 Certificates. TN4 $0.00000000 0.00
Class PO Certificates. TP9 $0.84244945 42.44
Class A-R Certificates. TU8 $0.00000000 0.00
Class X Certificates. TQ7 $0.00000000 0.00
Class B-1 Certificates. TR5 $0.61822939 9,557.04
Class B-2 Certificates. TS3 $0.61822968 3,413.23
Class B-3 Certificates. TT1 $0.61823036 2,047.94
Class B-4 Certificates. N/A $0.61823036 1,160.50
Class B-5 Certificates. N/A $0.61823319 409.59
Class B-6 Certificates. N/A $0.61823051 1,160.50
Total 2,466,596.62
Aggregate amount of any Principal Prepayments $2,275,201.39
</TABLE>
<TABLE>
<CAPTION>
SINGLE TOTAL
Amounts distributed representing interest CERTIFICATE AMOUNT
<S> <C> <C>
Class A-1 Certificates. $0.78192327 11,378.14
Class A-2 Certificates. $5.77499999 571,075.26
Class A-3 Certificates. $5.83333328 287,189.61
Class A-4 Certificates. $5.80983148 111,594.97
Class A-5 Certificates. $0.00000000 0.00
Class PO Certificates. $0.00000000 0.00
Class A-R Certificates. $0.00000000 0.00
Class X Certificates. $1.12890724 245,313.98
Class B-1 Certificates. $5.80983183 89,812.61
Class B-2 Certificates. $5.80983174 32,075.93
Class B-3 Certificates. $5.80983305 19,245.56
Class B-4 Certificates. $5,80983117 10,905.82
Class B-5 Certificates. $5,80982828 3,849.11
Class B-6 Certificates. $5.80983256 10,905.82
Total 1,393,346.81
</TABLE>
Amount of shortfall which is less than the full amount that would be
distributed:
Principal 0.00
Interest 0.00
<TABLE>
<CAPTION>
Stated Amount of Certificates after this ORIGINAL SINGLE TOTAL
Distribution BALANCE CERTIFICATE AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates. 14,551,479.00 $0.00000000 $0.00
Class A-2 Certificates. 98,887,491.00 $996.81096662 $98,572,135.49
Class A-3 Certificates. 49,232,505.00 996.81096666 $49,075,500.90
Class A-4 Certificates. 19,207,953.00 995.35290825 $19,118,691.88
Class A-5 Certificates. 10,200,000.00 $1,047.63064216 $10,685,832.55
Class PO Certificates. 50,376.91 $993.61651995 $50,055.33
Class A-R Certificates. 100.00 $0.00000000 $0.00
Class X Certificates. 217,302,158.28 $932.16873345 $202,562,277.66
Class B-1 Certificates. 15,458,728.00 $995.35290679 $15,386,889.85
Class B-2 Certificates. 5,520,974.00 $995.35290874 $5,495,317.53
Class B-3 Certificates. 3,312,584.00 $995.35290577 $3,297,190.11
Class B-4 Certificates. 1,877,132.00 $995.35289474 $1,868,408.77
Class B-5 Certificates. 662,517.00 $995.35291925 $659,438.23
Class B-6 Certificates. 1,877,131.55 $995.35289895 $1,868,408.33
Total 206,077,868.97
</TABLE>
The Pool Stated Principal Balance for the following
Distribution Date: 206,077,869.02
Senior Percentage for the following Distribution
Date 90.8050642409%
Subordinated Percentage for the following
Distribution Date 9.1949357591%
Amount of the Master Servicing Fees paid to or
retained by the Master Servicer with respect to
such Distribution Date 68,866.31
Pass-Through Rate for each such Class of
Certificates
Class A-1 Certificates. 6.95000%
Class A-2 Certificates. 6.93000%
Class A-3 Certificates. 7.00000%
Class A-4 Certificates. 7.00000%
Class A-5 Certificates. 7.00000%
Class PO Certificates. N/A
Class A-R Certificates. N/A
Class X Certificates. 1.38683%
Class B-1 Certificates. 7.00000%
Class B-2 Certificates. 7.00000%
Class B-3 Certificates. 7.00000%
Class B-4 Certificates. 7.00000%
Class B-5 Certificates. 7.00000%
Class B-6 Certificates. 7.00000%
Amount of Advances included in the distribution on
this Distribution Date 33,386.64
Aggregate amount of Advances outstanding as of the
close of business on such Distribution Date. 42,825.52
A. The number and aggregate principal amounts of
Mortgage Loans delinquent
30 to 59 days 22 3,176,817.92
60 to 89 days 7 797,237.61
90 or more 2 172,963.99
B. The number and aggregate principal amounts of
Mortgage Loans in foreclosures
In foreclosure 12 1,355,623.30
Loan number and Stated Principal Balance
of any Mortgage loan that became an
REO Property duringthe 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 Distribution Date 0.00
Senior Prepayment Percentage for following
Distribution Date 100.0000000000%
Aggregate amount of Realized Losses incurred during
preceding month
Agggregate amount of Realized Losses through
Distribution Date 0.00
Special Hazard Loss Coverage Amount 2,084,824.93
Required Fraud Loss Coverage 6,625,169.00
Current Bankruptcy Coverage 100,000.00
