Payment Date: 05/25/00
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 1998-1
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior AF1 492,070.12 6.450000% 492,070.12 2,644.88 494,715.00 0.00 0.00
AF2 22,000,000.00 6.270000% 224,228.42 114,950.00 339,178.42 0.00 0.00
AF3 10,000,000.00 6.790000% 0.00 56,583.33 56,583.33 0.00 0.00
AF4 10,000,000.00 6.390000% 0.00 53,250.00 53,250.00 0.00 0.00
MF1 4,200,000.00 6.970000% 0.00 24,395.00 24,395.00 0.00 0.00
MF2 2,940,000.00 7.240000% 0.00 17,738.00 17,738.00 0.00 0.00
BF 2,956,603.00 7.580000% 0.00 18,675.88 18,675.88 0.00 0.00
AV1 38,897,111.16 6.360000% 4,431,818.58 206,154.69 4,637,973.27 0.00 0.00
MV1 10,680,000.00 6.550000% 0.00 58,295.00 58,295.00 0.00 0.00
MV2 9,790,000.00 6.760000% 0.00 55,150.33 55,150.33 0.00 0.00
BV 6,267,734.00 7.350000% 0.00 38,389.87 38,389.87 0.00 0.00
BFI 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
BVI 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
Residual R 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Totals - - 118,223,518.28 - 5,148,117.12 646,226.98 5,794,344.10 - -
----------------------------------------------------------------------------------------------------------------------------------
Class Information
--------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
--------------------------------------------------------------------------------
Senior AF1 0.00 0.00
AF2 21,775,771.58 0.00
AF3 10,000,000.00 0.00
AF4 10,000,000.00 0.00
MF1 4,200,000.00 0.00
MF2 2,940,000.00 0.00
BF 2,956,603.00 0.00
AV1 34,465,292.58 0.00
MV1 10,680,000.00 0.00
MV2 9,790,000.00 0.00
BV 6,267,734.00 0.00
BFI 0.00 0.00
BVI 0.00 0.00
Residual R 0.00 0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Totals - - 113,075,401.16 -
--------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 05/25/00
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 1998-1
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
Factors per $1,000
------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
------------------------------------------------------------------------------------------------------------------------
Senior AF1 492,070.12 6.450000% 126671AY2 15.415731 0.082860 0.000000
AF2 22,000,000.00 6.270000% 126671AZ9 10.192201 5.225000 989.807799
AF3 10,000,000.00 6.790000% 126671BA3 0.000000 5.658333 1,000.000000
AF4 10,000,000.00 6.390000% 126671BJ4 0.000000 5.325000 1,000.000000
MF1 4,200,000.00 6.970000% 126671BB1 0.000000 5.808333 1,000.000000
MF2 2,940,000.00 7.240000% 126671BC9 0.000000 6.033333 1,000.000000
BF 2,956,603.00 7.580000% 126671BD7 0.000000 6.316667 1,000.000000
AV1 38,897,111.16 6.360000% 126671BE5 29.291597 1.362556 227.794399
MV1 10,680,000.00 6.550000% 126671BF2 0.000000 5.458333 1,000.000000
MV2 9,790,000.00 6.760000% 126671BG0 0.000000 5.633333 1,000.000000
BV 6,267,734.00 7.350000% 126671BH8 0.000000 6.125000 1,000.000000
BFI 0.00 0.000000% N/A 0.000000 0.000000 0.000000
BVI 0.00 0.000000% N/A 0.000000 0.000000 0.000000
Residual R 0.00 0.000000% N/A 0.000000 0.000000 0.000000
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Totals - - 118,223,518.28 - - - - -
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Asset-Backed Certificates, Series 1998-1
------------------------------------------------------------
--------------------------------------------------------------------------------
COLLATERAL INFORMATION
--------------------------------------------------------------------------------
Total
-----
Prin balance 52,712,540.62 63,784,656.64 116,497,197.26
Loan count 707 734 1441
Avg loan rate 9.699380% 11.082991% 10.47
Prepay amount 578,717.77 3,826,838.47 4,405,556.24
--------------------------------------------------------------------------------
FEES AND ADVANCES
--------------------------------------------------------------------------------
Total
-----
Master serv fees 21,670.24 23,615.12 45,285.36
Sub servicer fees 0.00 30.60 30.60
Trustee fees 0.00 0.00 0.00
Agg advances N/A N/A N/A
Adv this period 76,276.71 197,883.51 274,160.22
--------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
--------------------------------------------------------------------------------
Total
-----
Realized losses 30,302.06 245,235.91 275,537.97
Cumulative losses 450,973.71 1,486,339.13 1,937,312.84
Coverage Amounts Total
---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 840,166.04 1,780,377.35 2,620,543.39
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 118,223,518.28
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
--------------------------------------------------------------------------------
DELINQUENCY INFORMATION
--------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
30 to 59 days 124 11,280,505.99
60 to 89 days 50 4,611,056.47
90 or more 60 5,151,608.96
Foreclosure 70 6,387,031.09
Totals: 304 27,430,202.51
--------------------------------------------------------------------------------
<PAGE>
--------------------------------------------------------------------------------
REO INFORMATION
--------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 2,063,429.48
Current Total Outstanding Number of Loans: 29
<PAGE>
--------------------------------------------------------------------------------
OTHER INFORMATION
--------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 5,794,344.10 5,794,344.10
Principal remittance amount 5,148,117.12 5,148,117.12
Interest remittance amount 646,226.98 646,226.98
