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 SPMD)
(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-A SPMD
On November 25, 1996, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass-Through Certificates, Series 1996-A SPMD made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of August 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 SPMD 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 August 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 SPMD 1996-A
HOME EQUITY MORTGAGE LOAN ASSET BACKED TRUST
STATEMENT TO CERTIFICATEHOLDERS PREPARED PURSUANT TO SECTION 4.03 OF THE
POOLING AND SERVICING AGREEMENTS DATED FEBRUARY 1, 1996
Distribution Date 11/25/96
<TABLE>
<CAPTION>
4.03(i) Reduction of the Stated Amount of Certificates
CUSIP # Single Certificate Total Amount
<S> <C> <C> <C>
Class A-1 Certificates 126691XZ2 $54.94975605 $862,711.17
Class A-2 Certificates 126691YA6 $29.95524900 $1,497,762.45
Class A-3 Certificates 126691YB4 $0.00000000 $0.00
Class A-4 Certificates 126691YC2 $0.00000000 $0.00
Class A-5 Certificates 126691YD0 $0.00000000 $0.00
Class A-6 Certificates 126691YE8 $0.00000000 $0.00
Class A-7 Certificates 126691YG3 $8.33960337 $687,767.09
Class R Certificates 126691YF5 $0.00000000 $0.00
Class OC Certificates n/a $0.00000000 $0.00
Total Amount 3,048,240.71
Aggregate amount of any Principal Prepayments 2,477,675.50
</TABLE>
4.03(ii) Amount of distribution representing interest
Single Certificate Total Amount
Class A-1 Certificates $5.34363376 $83,895.05
Class A-2 Certificates $5.59469520 $279,734.76
Class A-3 Certificates $5.80000000 $75,980.00
Class A-4 Certificates $6.05833333 $72,700.00
Class A-5 Certificates $6.32500027 $119,257.88
Class A-6 Certificates $6.51250052 $62,777.90
Class A-7 Certificates $4.85641785 $400,508.78
Class R Certificates $0.00000000 $0.00
Class OC Certificates $0.00000000 $0.00
Total Amount 1,094,854.37
4.03(iii) Amount of interest shortfall 0.00
<TABLE>
<CAPTION>
4.03(iv) Stated Amount of Certificates after this Distribution
Original Balance Single Certificate Total Amount
<S> <C> <C> <C>
Class A-1 Certificates 15,700,000.00 $901.32956497 $14,150,874.17
Class A-2 Certificates 50,000,000.00 $945.86368620 $47,293,184.31
Class A-3 Certificates 13,100.000.00 $1,000.00000000 $13,100,000.00
Class A-4 Certificates 12,000,000.00 $1,000.00000000 $12,000,000.00
Class A-5 Certificates 18,855,000.00 $1,000.00000000 $18,855,000.00
Class A-6 Certificates 9,639,600.00 $1,000.00000000 $9,639,600.00
Class A-7 Certificates 82,470,000.00 $976.54773287 $80,535,891.53
Class R Certificates 100.00 $0.00000000 $0.00
Class OC Certificates 0.00 $0.00000000 0.00
Total $195,574,550.01
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
4.03(v) The Pool Stated Principal Balance for the following Distribution Date $197,058,111.81
4.03(vi) Amount of the Master Servicing Fees paid to or retained by the Master
Servicer with respect to such Distribution Date 83,177.09
</TABLE>
4.03(vii) Pass-Through Rate and for each Class of Certificates
Class A-1 Certificates 6.71000000%
Class A-2 Certificates 6.88000000%
Class A-3 Certificates 6.96000000%
Class A-4 Certificates 7.27000000%
Class A-5 Certificates 7.59000000%
Class A-6 Certificates 7.81500000%
Class A-7 Certificates 5.75750000%
Class R Certificates 7.00000000%
Class OC Certificates 0.00000000%
<TABLE>
<CAPTION>
<S> <C> <C>
4.03(viii) Amount of Advances included in the distribution on such
Distribution Date 95,077.10
Aggregate amount of Advances outstanding as of the close of
business on such Distribution Date 125,247.24
4.03(ix) The number and aggregate principal amounts of Mortgage Loans
delinquent
30 to 59 days 54 7,895,186.83
60 to 89 days 18 1,830,384.90
90 or more 6 668,575.28
The number and aggregate principal amounts of Mortgage Loans in
foreclosure
In foreclosure 5 540,922.70
4.03(xi) Loan number and Stated Principal Balance of any Mortgage loan
that became an REO Property during the preceding calendar month
0 0.00
4.03(xii) Total number and principal balance of any REO Properties as of
the close of business on the Determination Date preceding such
Distribution Date
0 0.00
4.03(xiv) Aggregate amount of Realized Losses incurred during the preceding
calendar month
0.00
Aggregate amount of Realized Losses through Distribution Date
0.00
</TABLE>
