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Previous: LASALLE HOTEL PROPERTIES, 8-K, 1998-06-15 |
Next: MORTGAGE PASS THROUGH CERTIFICATES SERIES 1998-1, 8-K, 1998-06-15 |
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): 2/25/98
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass Through Certificates, Series 98-2)
(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 98-2
On February 25, 1998, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage
Pass Through Certificates Series 1998-2, made a monthly distribution to
Certificateholders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of January 1, 1998, 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
99 Report to Holders of CWMBS, Inc., Mortgage Pass Through Certificates Series
1998-2 relating to the distribution date of February 25, 1998 prepared by
The Bank of New York, as Trustee under the Pooling and Servicing Agreement
dated as of January 1, 1998.
<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: February 25, 1998
CSMBS, INC.
By: /s/ Kelly A Sheahan
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
COUNTRYWIDE HOME LOANS
Mortgage Pass-Through Certificates 1998-02
Current Payment Infomration
Class Information
Beginning Pass Thru Principal
Class Code Name Cert. Bal. Rate Dist. Amt.
- ---------- ---- ---------- ---- ----------
A-1 195,212,599.00 6.500000% 3,049,682.39
A-2 5,000,000.00 6.250000% 0.00
A-3 5,000,000.00 6.750000% 0.00
A-4 45,116,324.00 6.500000% 997,903.14
A-5 50,000,000.00 6.750000% 590,616.56
A-6 1,923,077.00 NA 22,716.02
A-7 25,000,000.00 6.500000% 295,308.28
A-8 45,500,000.00 6.500000% 0.00
A-9 10,982,060.00 6.500000% 0.00
A-10 45,000,000.00 6.500000% 0.00
PO 469.40 N/A 0.41
X 449,776,089.00 0.261655% N/A
A-R 100.00 6.500000% 100.00
M 10,128,000.00 6.500000% 7,492.44
B-1 4,500,000.00 6.500000% 3,328.99
B-2 2,700,000.00 6.500000% 1,997.39
B-3 1,800,000.00 6.500000% 1,331.60
B-4 900,000.00 6.500000% 665.80
B-5 1,352,467.28 6.500000% 1,000.52
Totals 450,115,096.68 4,972,143.54
<TABLE>
<CAPTION>
Interest Total Ending Cert./ Unpaid / Deferred Remaining
Dist. Amt. Dist. Notional Bal. Interest Unpaid Interest
---------- ----- ------------- -------- ---------------
<S> <C> <C> <C> <C>
1,057,401.58 4,107,083.97 192,162,916.61 0.00 0.00
26,041.67 26,041.67 5,000,000.00 0.00 0.00
28,125.00 28,125.00 5,000,000.00 0.00 0.00
244,380.09 1,242,283.23 44,118,420.86 0.00 0.00
281,250.00 871,866.56 49,409,383.44 0.00 0.00
0.00 22,716.02 1,900,360.98 0.00 0.00
135,416.67 430,724.95 24,704,691.72 0.00 0.00
246,458.33 246,458.33 45,500,000.00 0.00 0.00
59,486.16 59,486.16 10,982,060.00 0.00 0.00
243,750.00 243,750.00 45,000,000.00 0.00 0.00
N/A 0.41 468.59 0.00 0.00
369,128.13 369,128.13 444,804,239.03 0.00 0.00
0.54 100.54 0.00 0.00 0.00
54,860.00 62,352.44 10,120,507.56 0.00 0.00
24,375.00 27,703.99 4,496,671.01 0.00 0.00
14,625.00 16,622.39 2,698,002.61 0.00 0.00
9,750.00 11,081.60 1,798,668.40 0.00 0.00
4,875.00 5,540.80 899,334.20 0.00 0.00
7,325.86 8,326.38 1,351,466.48 0.00 0.00
2,807,249.02 7,779,392.56 445,142,952.46 0.00 0.00
</TABLE>
<PAGE>
Original Certificate Information
Class Information
Original Pass Thru Cusip
Type Name Cert. Bal. Rate Numbers
---- ---- ---------- ---- -------
Senior A-1 12669AHH0
A-2 0.00 12669AHJ6
A-3 0.00 0.00000 12669AHK3
A-4 0.00 0.00000 12669AHL1
A-5 0.00 0.00000 12669AHM9
A-6 0.00 0.00000 12669AHN7
A-7 0.00 0.00000 12669AHP2
A-8 0.00 0.00000 12669AHQ0
A-9 0.00 0.00000 12669AHR8
A-10 0.00 0.00000 12669AHS6
PO 0.00 N/A 12669AHT4
X 0.00 0.00000 12669AHU1
Residual A-R 0.00 0.00000 12669AHV9
M 0.00 0.00000 12669AHW7
B-1 0.00 0.00000 12669AHX5
B-2 0.00 0.00000 12669AHY3
B-3 0.00 0.00000 12669AJC9
B-4 0.00 0.00000 12669AJD7
B-5 0.00 0.00000 12669AJE5
Total 0.00
<PAGE>
COLLATERAL INFORMATION
Aggregate Scheduled Principal 332,984.11
Aggregate Prepayment Amount 4,639,159.44
Aggregate Liquidation Proceeds 0.00
Pool Stated Pricipal Balance after distribution 445,142,953.13
FEES & ADVANCES
Monthly master servicer fees paid 92,391.47
Advances included in this distribution 0.00
Aggregate Advances Outstanding 0.00
LOSSES & INSURANCE COVERAGES
Net realized losses (this period) 0.00
Cumulative losses (from Cut-Off) 0.00
Bankruptcy Loss Coverage Amount 116,842.00
Fraud Loss Coverage Amount 9,002,302.00
Special Hazrad Loss Coverage Amount 4,501,150.00
<PAGE>
DELINQUENCY INFORMATION
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
1 mo. 0 0.00
2 mos. 0 0.00
3+MOS. 0 0.00
In foreclosure 0 0.00
Totals 0 0.00
TOTAL REO INFORMATION
Total Number of REO Properties 0
Total Principal Balance of REO Properties 0.00
NEW REO INFORMATION
(Mortgage Loans that became REO Properties during the preceeding calendar month)
Loan Number Stated Principal Balance
----------- ------------------------
0 0.00
0 0.00
Aggregate Certificate Information for the following distribution date
Class Aggregate Aggregate
Type Percentages Prepay. Pct.
---- ----------- ------------
Senior 95.24999506% 100.00000000%
Subordinate 4.75000494% 0.00000000%
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