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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-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 November 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 November 25, 1996 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of January 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
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.06 OF THE
POOLING AND SERVICING AGREEMENTS DATED JANUARY 1, 1996
CUSIP #126691
Distribution Date 11/25/96
<TABLE>
<CAPTION>
SINGLE TOTAL
4.06(i) Reduction of the Stated Amount of Certificates CERTIFICATE AMOUNT
<S> <C> <C> <C>
Class A-1 Certificates. PZI $2.11934241 $158,567.08
Class A-2 Certificates. QA5 $1.73725051 $21,345.60
Class A-3 Certificates QB3 $3.16012589 $64,036.79
Class A-4 Certificates. QCI $0.00000000 $0.00
Class A-5 Certificates. QD9 $0.00000000 $0.00
Class A-6 Certificates. QE7 $0.00000000 $0.00
Class A-7 Certificates. QF4 $0.00000000 $0.00
Class X Certificates. QH0 N/A $0.00
Class A-R Certificates. QG2 $2.11934241 $0.21
Class B-1 Certificates. QJ6 $0.62497672 $5,389.17
Class B-2 Certificates. QK3 $0.62497672 $2,053.05
Class B-3 Certificates. QLI $0.62497672 $1,283.08
Class B-4 Certificates. $0.62497672 $615.60
Class B-5 Certificates. $0.62497672 $308.11
Class B-6 Certificates. $0.61481680 $606.02
Total Amount 254,204.72
Aggregate amount of any Principal Prepayments 160,588.69
</TABLE>
<TABLE>
<CAPTION>
SINGLE TOTAL
4.06(ii) Amount of distribution representing interest. CERTIFICATE AMOUNT
<S> <C> <C>
Class A-1 Certificates. $5.06592576 $379,027.50
Class A-2 Certificates. $5.20428010 $63,944.99
Class A-3 Certificates $4.68906117 $95,019.14
Class A-4 Certificates. $5.83333333 $136,791.67
Class A-5 Certificates. $0.00000000 $0.00
Class A-6 Certificates. $5.83333333 $54,010.83
Class A-7 Certificates. $5.83333333 $42,799.17
Class X Certificates. $1.08576907 $178,329.74
Class A-R Certificates. $5.06592576 $0.51
Class B-1 Certificates. $5.80239911 $50,034.09
Class B-2 Certificates. $5.80239911 $19,060.88
Class B-3 Certificates. $5.80239911 $11,912.33
Class B-4 Certificates. $5.80239911 $5,715.36
Class B-5 Certificates. $5.80239911 $2,860.58
Class B-6 Certificates $5.80598199 $5,722.91
Total Amount 1,045,229.69
</TABLE>
4.06(iii) Unpaid Interest Shortfall 0.00
<PAGE>
<TABLE>
<CAPTION>
ORIGINAL SINGLE TOTAL
4.06(iv) Stated Amount of Certificates after this BALANCE CERTIFICATE AMOUNT
Distribution
<S> <C> <C> <C>
Class A-1 Certificates. $74,819,000.00 $866.32507399 $64,817,575.71
Class A-2 Certificates. $12,287,000.00 $890.42505275 $10,940,652.62
Class A-3 Certificates $20,264,000.00 $800.67893157 $16,224,957.87
Class A-4 Certificates. $23,450,000.00 $1,000.00000000 $23,450,000.00
Class A-5 Certificates. $402,000.00 $1,000.00000000 $402,000.00
Class A-6 Certificates. $9,259,000.00 $1,000.00000000 $9,259,000.00
Class A-7 Certificates. $7,337,000.00 $1,000.00000000
Class X Certificates. $164,242,792.00 $905.72376223 $148,758,599.49
Class A-R Certificates. $100.00 $866.32507399 $86.63
Class B-1 Certificates. $8,623,000.00 $994.07201331 $8,571,882.97
Class B-2 Certificates. $3,285,00.00 $994.07201331 $3,265,526.56
Class B-3 Certificates. $2,053,000.00 $994.07201331 $2,040,829.84
Class B-4 Certificates. $985,000.00 $994.07201331 $979,160.93
Class B-5 Certificates. $493,000.00 $994.07201331 $490,077.50
Class B-6 Certificates $985,692.00 $994.07202342 $979,848.84
Total Amount 148,758,599.49
</TABLE>
<TABLE>
<S> <C> <C>
4.06(v) The Pool-Stated Principal Balance for the following Distribution Date $148,758,599.49
4.06(vi) Senior Percentage for this Distribution Date 89.0361162628%
Subordinated Percentage for this Distribution Date 10.9638837372%
4.06(vii) Amount of the Master Servicing Fees paid to or retained by the Master Servicer with respect
to such Distribution Date 0.00
4.06(viii) Pass Through Rate and for each Class of Certificates
Class A-1 Certificates. 7.00000000%
Class A-2 Certificates. 7.00000000%
Class A-3 Certificates. 7.00000000%
Class A-4 Certificates. 7.00000000%
Class A-5 Certificates. 0.00000000%
Class A-6 Certificates. 7.00000000%
Class A-7 Certificates. 7.00000000%
Class X Certificates. 1.43608920%
Class A-R Certificates. 7.00000000%
Class B-1 Certificates. 7.00000000%
Class B-2 Certificates. 7.00000000%
Class B-3 Certificates. 7.00000000%
Class B-4 Certificates. 7.00000000%
Class B-5 Certificates. 7.00000000%
Class B-6 Certificates 7.00000000%
4.06(ix) Amount of Advances included in the distribution on such Distribution Date
Aggregate amount of Advances outstanding as of the close of business on 34,071.01
such Distribution Date. 55,972.07
</TABLE>
4.06(x) The number and aggregate principal amounts of Mortgage Loans
delinquent
30 to 59 days 7 $2,381,539.28
60 to 89 days 4 $1,048,106.03
90 or more 2 $843,375.70
The number and aggregate principal amounts of Mortgage Loans in
foreclosure
In foreclosure 3 $1,184,545.17
4.06(xi)
4.06(xii) Loan number and Stated Principal Balance of any Mortgage loan
that became an REO Property during the preceding calendar month.
4.06(xiii) Total number and principal balance of any REO Properties as of
the close of business on the Determination Date preceding such
Distribution Date
4.06(xiv) Senior Prepayment Percentage 100.000000000%
4.06(xv) Aggregate amount of Realized Losses incurred during the preceding
calendar month
Aggregate amount of Realized Losses through Distribution Date
<TABLE>
<CAPTION>
<S> <C> <C>
4.06(xvi) Special Hazard Loss Coverage Amount 1,977,264.04
Required Fraud Loss Coverage 4,927,284.00
Current Bankruptcy Amount 125,000.00
4.06(xvii) Guaranteed Distributions paid for such Distribution Date on Class A-4
4.06(xviii) Amount of withdrawal from Reserve Fund since prior Distribution Date
Class A-4 0.00
4.06(xix) Amount remaining in Reserve Fund after Withdrawn Amounts for
Class A-4 45,000.00
</TABLE>
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