CWMBS INC
8-K, 1997-04-29
ASSET-BACKED SECURITIES
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_________________________________________________________________


                 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): April 28, 1997


      CWMBS,  INC.,   (as  depositor  under   the  Pooling  and
      Servicing Agreement, dated as of April 1, 1997, providing
      for  the issuance of  the CWMBS, INC.,  Residential Asset
      Securitization  Trust   1997-A4,  Mortgage   Pass-Through
      Certificates, Series 1997-D).


                           CWMBS, INC.                     
     ------------------------------------------------------
     (Exact name of registrant as specified in its charter)


          Delaware              333-08389          95-4449516   
- ----------------------------   -----------     -----------------
(State or Other Jurisdiction   (Commission     (I.R.S. Employer
     of Incorporation)         File Number)   Identification No.)




       155 North Lake Avenue
       Pasadena, California                          91101  
     ------------------------                     ----------
       (Address of Principal                      (Zip Code)
        Executive Offices)

Registrant's telephone number, including area code (818) 304-5591
                                                   ----- --------

_________________________________________________________________


Item 5.   Other Events.
- ----      ------------

Filing of Computational Materials
- ---------------------------------

     Pursuant to Rule  424(b) under the Securities Act  of 1933, concurrently
with, or  subsequent to, the filing of  this Current Report on  Form 8-K (the
"Form  8-K"),  CWMBS,  Inc.  (the  "Company")  is  filing  a  prospectus  and
prospectus supplement with the Securities and Exchange Commission relating to
its Mortgage Pass-Through Certificates, Series 1997-D.

     In  connection   with  the   offering  of   the  Mortgage   Pass-Through
Certificates,  Series  1997-D,  Salomon  Brothers  Inc  ("Salomon"),  as  the
underwriter of  the Underwritten  Senior Certificates,  has prepared  certain
materials (the  "Salomon Computational  Materials") for  distribution to  its
potential investors and  Donaldson, Lufkin & Jenrette  Securities Corporation
("DLJ")  as  the  underwriter of  the  Class  B-1, Class  B-2  and  Class B-3
Certificates,  has  prepared  certain   materials  (the  "DLJ   Computational
Materials") for distribution to its investors.  Although the Company provided
Salomon and DLJ with certain information regarding the characteristics of the
Mortgage Loans in the related  portfolio, the Company did not participate  in
the  preparation  of   the  Salomon  Computational   Materials  or  the   DLJ
Computational Materials.

     For purposes  of this  Form  8-K, "Computational  Materials" shall  mean
computer generated tables and/or charts displaying, with respect to any Class
or  Classes of  Certificates,  any of  the following:   yield;  average life;
duration;  expected maturity;  interest  rate sensitivity;  loss sensitivity;
cash  flow characteristics;  background  information  regarding the  Mortgage
Loans;  the  proposed  structure; decrement  tables;  or  similar information
(tabular  or   otherwise)  of   a  statistical,   mathematical,  tabular   or
computational  nature.   The  Salomon  Computational  Materials and  the  DLJ
Computational Materials,  listed  as Exhibit  99.1 and  Exhibit 99.2  hereto,
respectively, are filed on Form SE dated April 28, 1997.




                   
- -------------------
*    Capitalized terms used  and not otherwise defined herein  shall have the
meanings assigned to them  in the prospectus dated September 9,  1996 and the
prospectus supplement dated  April 28, 1997, of CWMBS, Inc.,  relating to its
Mortgage Pass-Through Certificates, Series 1997-D.


Item 7.  Financial Statements, Pro Forma Financial
- ----     -----------------------------------------
         Information and Exhibits.
         ------------------------

(a)  Not applicable.

(b)  Not applicable.

(c)  Exhibits:

     99.1 Salomon Computational Materials.
          (filed on Form SE dated April 28, 1997).

     99.2 DLJ Computational Materials.
          (filed on Form SE dated April 28, 1997).



                                  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 hereunto duly authorized.



                              CWMBS, INC.



                              By: /s/ David A. Spector           
                                  -------------------------------
                                  David A. Spector
                                  Vice President


Dated:  April 28, 1997


                               Exhibit Index
                               -------------


Exhibit                                                                Page
- -------                                                                ----

99.1      Salomon Computational Materials.
          (filed on Form SE dated April 28, 1997).

99.2      DLJ Computational Materials.
          (filed on Form SE dated April 28, 1997).



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