CWMBS INC RESIDENTIAL ASSET SECURITIZATION TRUST 1998-A3
8-K/A, 1998-08-10
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 25, 1998

                                   CWMBS, INC.

                                   (Depositor)

     (Issuer in respect of Mortgage Pass Through Certificates, Series 98-C)

               (Exact name of registrant as specified in charter)

Delaware                     333-40145-09                  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-C

On April 25 1998, The Bank of New York, as Trustee for CWMBS, Inc. Mortgage Pass
Through   Certificates   Series   1998-C,   made  a  monthly   distribution   to
Certificateholders  of  principal  and/or  interest  pursuant to the Pooling and
Servicing  Agreement,  dated as of  February  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-C relating to the distribution date
                    of April  25,  1998  prepared  by The Bank of New  York,  as
                    Trustee under the Pooling and Servicing  Agreement  dated as
                    of February 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:  April 25, 1998


                                   CSMBS, INC.


                             By: /s/ Kelly A. Sheahan
                                --------------------------
                             Name:   Kelly A. Sheahan
                                     Assistant Treasurer
                                     The Bank of New York,
                                     as Trustee



<PAGE>



                                  EXHIBIT INDEX



Exhibit


99                  Monthly Remittance Statement dated April 25, 1998




                                  Payment Date: 4/27/98

   
         ------------------------------------------------------------
                    INDEPENDENT NATIONAL MORTGAGE CORPORATION
                MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C
                 RESIDENTIAL ASSET SECURITIZATION TRUST 1998 A-3
         ------------------------------------------------------------
    
<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                  A        172,663,735.51    6.500000%    2,907,557.14    935,261.90     3,842,819.04   0.00         0.00
                        PO            20,166.19    0.000000%           67.69           n/a            67.69   0.00          n/a
                        X        174,897,917.63    0.840000%             n/a    121,974.26       121,974.26    n/a         0.00

Residual                A-R                0.00    6.500000%            0.00          0.00             0.00   0.00         0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Subordinate             B-1        2,694,205.81    6.500000%        8,218.07     14,593.61        22,811.68   0.00         0.00
                        B-2          898,016.08    6.500000%        2,739.20      4,864.25         7,603.45   0.00         0.00
                        B-3          538,809.45    6.500000%        1,643.52      2,918.55         4,562.07   0.00         0.00
                        B-4          449,008.04    6.500000%        1,369.60      2,432.13         3,801.72   0.00         0.00
                        B-5          359,206.63    6.500000%        1,095.68      1,945.70         3,041.38   0.00         0.00
                        B-6          449,008.97    6.500000%        1,369.60      2,432.13         3,801.73   0.00         0.00

- -----------------------------------------------------------------------------------------------------------------------------------

- -----------------------------------------------------------------------------------------------------------------------------------
Totals      -            -       178,072,156.68       -         2,924,060.49  1,086,422.55     4,010,483.04    -             -
- -----------------------------------------------------------------------------------------------------------------------------------

</TABLE>

Class Information

- -------------------------------------------------------------------------------
                                  Ending Cert./         Unpaid
Type        Class Code  Name      Notional Bal.        Interest
- -------------------------------------------------------------------------------
Senior                  A         169,756,178.37          0.00
                        PO             20,098.50          0.00
                        X         171,985,180.93          0.00

Residual                A-R                 0.00          0.00
- -------------------------------------------------------------------------------
Subordinate             B-1         2,685,987.74          0.00
                        B-2           895,276.89          0.00
                        B-3           537,165.93          0.00
                        B-4           447,638.44          0.00
                        B-5           358,110.95          0.00
                        B-6           447,639.37          0.00
- -------------------------------------------------------------------------------

- -------------------------------------------------------------------------------
Totals           -       -        175,148,096.19    
- -------------------------------------------------------------------------------

<PAGE>
                                                       Payment Date: 4/27/98
   

         ---------------------------------------------------------------------
                   INDEPENDENT NATIONAL MORTGAGE CORPORATION
               MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C
                RESIDENTIAL ASSET SECURITIZATION TRUST 1998 A-3
         ---------------------------------------------------------------------
    
<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                 A      174,673,100.00   6.500000%   12669AJU9   16.645706    5.354356      971.850722
                       PO          20,230.37   0.000000%   12669AJV7    3.345960    0.000000      993.481582
                       X      176,913,235.00   0.840000%   12669AJW5    0.000000    0.689458      972.144232

Residual               A-R            100.00   6.500000%   12669AJY1    0.000000    0.000000        0.000000
Subordinate            B-1      2,701,604.00   6.500000%   12669AJZ8    3.041922    5.401833      994.219635
                       B-2        900,482.00   6.500000%   12669AKA1    3.041922    5.401833      994.219635
                       B-3        540,289.00   6.500000%   12669AKB9    3.041922    5.401833      994.219635
                       B-4        450,241.00   6.500000%   12669AKY9    3.041922    5.401833      994.219635
                       B-5        360,193.00   6.500000%   12669AKZ6    3.041922    5.401833      994.219635
                       B-6        450,241.93   6.500000%   12669ALA0    3.041922    5.401833      994.219635
- --------------------------------------------------------------------------------------------------------------

- ---------------------------------------------------------------------------------------------------------------
Totals           -     -      180,096,481.30       -           -           -             -           -
- --------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>
   
         ------------------------------------------------------------
                   INDEPENDENT NATIONAL MORTGAGE CORPORATION
               MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-C
                RESIDENTIAL ASSET SECURITIZATION TRUST 1998 A-3
         ------------------------------------------------------------
    
- -------------------------------------------------------------------------------
                             COLLATERAL INFORMATION
- -------------------------------------------------------------------------------
                                                         Total
                                                         -----
COLLATERAL INFORMATION

Aggregate stated principal balance   178,072,156.68      178,072,156.68
Aggregate Loan count                            950                 950
Weighted average loan rate                7.321229%           7.321229%
Aggregate prepayment amount            2,380,886.57        2,380,886.57

- -------------------------------------------------------------------------------
                               FEES AND ADVANCES
- -------------------------------------------------------------------------------
                                                         Total
                                                         -----

Monthly master servicing fees             18,549.18           18,549.18
Monthly sub servicer fees                 37,106.01           37,106.01
Monthly trustee feees                      1,335.54            1,335.54

Aggregate advances                        19,233.17           19,233.17
Advances this Period                      19,233.17           19,233.17

- ---------------------------------------------------------------------
                          LOSSES & INSURANCE COVERAGES
- ---------------------------------------------------------------------
                                                         Total
                                                         -----
Net realized losses (this period)              0.00                0.00
Cumulative losses (from Cut-Off)               0.00                0.00

Coverage Amounts                                         Total
- ----------------                                         -----
Fraud                                  1,800,965.00        1,800,965.00
Special Hazard                         1,978,396.22        1,978,396.22

                       Aggregate Certificate Information
   ----------------------------------------------------------------------------
   Class            Aggregate           Aggregate              Aggregate
   Type            Percentages          Prepay Pct.            End Cert. Bal.
   ----------------------------------------------------------------------------
   Senior          96.973774%           100.000000%        169,776,276.87
   ----------------------------------------------------------------------------
   Subordinate      3.026226%             0.000000%          5,371,819.32
   ----------------------------------------------------------------------------

- -------------------------------------------------------------------------------
                            DELINQUENCY INFORMATION
- -------------------------------------------------------------------------------

Period                             Loan Count    Ending Stated Balance
- ------                             ----------    ---------------------
30 to 59 days                         13            2,035,646.75
60 to 90 days                          0                    0.00
91 or more                             0                    0.00
Foreclosure                            0                    0.00

Totals:                               13            2,035,646.75
- -------------------------------------------------------------------------------
<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
      Totals:                                            0          0.00

Current Total Outstanding Balance:                                  0.00
Current Total Outstanding Number of Loans:                          0.00

- ---------------------------------------------------------------------
                               OTHER INFORMATION
- ---------------------------------------------------------------------
                                  Amount/Withdrawal        Total/Ending Bal.
                                  -----------------        -----------------
Available remittance amount            4,010,483.04        4,010,483.04
Principal remittance amount            2,924,060.49        2,924,060.49
Interest remittance amount             1,086,422.55        1,086,422.55


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