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): July 25, 1998
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-through Certificates, Series 1998-F)
(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 91110-7137
(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 1998-F
On July 25, 1998, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-through Certificates Series 1998-F, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of May 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-F relating to the distribution date
of July 25, 1998 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of May 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: July 25, 1998
CWMBS, 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 July 25, 1998
Payment Date: 07/25/98
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
<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 1A1 21,834,664.44 6.750000% 353,633.83 122,819.99 476,453.82 0.00 0.00
1A2 15,842,750.00 6.750000% 0.00 89,115.47 89,115.47 0.00 0.00
1A3 11,000,000.00 6.750000% 0.00 61,875.00 61,875.00 0.00 0.00
1A4 16,206,987.68 6.750000% 626,719.80 91,164.31 717,884.11 0.00 0.00
1A5 20,500,000.00 6.750000% 0.00 115,312.50 115,312.50 0.00 0.00
1A6 500,000.00 6.750000% 0.00 2,812.50 2,812.50 0.00 0.00
1A7 132,795,304.98 6.750000% 2,576,704.69 746,973.59 3,323,678.28 0.00 0.00
1A8 26,300,000.00 6.750000% 0.00 147,937.50 147,937.50 0.00 0.00
1A9 30,000,000.00 6.750000% 0.00 168,750.00 168,750.00 0.00 0.00
2A1 116,084,424.32 6.750000% 1,001,478.95 652,974.89 1,654,453.84 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 224,269,576.32 0.833813% 0.00 155,832.42 155,832.42 0.00 0.00
X1B 62,868,247.26 0.833813% 0.00 43,683.64 43,683.64 0.00 0.00
X2 153,990,966.46 0.872564% 0.00 111,972.45 111,972.45 0.00 0.00
PO 86,396.19 0.000000% 100.60 0.00 100.60 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
Y 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 13,269,669.78 6.750000% 9,084.97 74,641.89 83,726.86 0.00 0.00
B2 6,072,145.94 6.750000% 4,157.24 34,155.81 38,313.05 0.00 0.00
B3 3,373,414.52 6.750000% 2,309.58 18,975.45 21,285.03 0.00 0.00
B4 2,248,943.01 6.750000% 1,539.72 12,650.30 14,190.02 0.00 0.00
B5 1,349,366.21 6.750000% 923.83 7,590.18 8,514.01 0.00 0.00
B6 1,799,154.57 6.750000% 1,231.78 10,120.24 11,352.02 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 447,493,471.64 - 4,577,884.99 2,828,153.29 7,406,038.28 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 21,481,030.61 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 15,580,267.88 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 130,218,600.29 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 115,082,945.37 0.00
2A2 28,230,250.00 0.00
X1A 222,549,714.60 0.00
X1B 61,025,006.13 0.00
X2 152,982,880.39 0.00
PO 86,295.59 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,260,584.81 0.00
B2 6,067,988.70 0.00
B3 3,371,104.94 0.00
B4 2,247,403.29 0.00
B5 1,348,442.38 0.00
B6 1,797,922.79 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 442,915,586.65 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 07/25/98
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
<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 1A1 21,834,664.44 6.750000% 12669ARM8 16.074265 5.582727 976.410482
1A2 15,842,750.00 6.750000% 12669ARN6 0.000000 5.625000 1,000.000000
1A3 11,000,000.00 6.750000% 12669ARP1 0.000000 5.625000 1,000.000000
1A4 16,206,987.68 6.750000% 12669ARQ9 37.983018 5.525110 944.258659
1A5 20,500,000.00 6.750000% 12669ARR7 0.000000 5.625000 1,000.000000
1A6 500,000.00 6.750000% 12669ARS5 0.000000 5.625000 1,000.000000
1A7 132,795,304.98 6.750000% 12669ART3 19.229139 5.574430 971.780599
1A8 26,300,000.00 6.750000% 12669ARU0 0.000000 5.625000 1,000.000000
1A9 30,000,000.00 6.750000% 12669ARX4 0.000000 5.625000 1,000.000000
2A1 116,084,424.32 6.750000% 12669ARV8 8.559649 5.580982 983.614918
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 224,269,576.32 0.833813% 12669ARZ9 0.000000 0.690379 985.954875
X1B 62,868,247.26 0.833813% 12669ASX3 0.000000 0.692426 967.302885
X2 153,990,966.46 0.872564% 12669ASA3 0.000000 0.722808 987.540393
PO 86,396.19 0.000000% 12669ARY2 1.163315 0.000000 997.901755
Residual AR 0.00 6.750000% 12669ASB1 0.000000 0.000000 0.000000
Y 0.00 0.000000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 13,269,669.78 6.750000% 12669ASC9 0.684181 5.621218 998.643517
B2 6,072,145.94 6.750000% 12669ASD7 0.684181 5.621217 998.643518
B3 3,373,414.52 6.750000% 12669ASE5 0.684181 5.621216 998.643516
B4 2,248,943.01 6.750000% 12669ASF2 0.684181 5.621216 998.643515
B5 1,349,366.21 6.750000% 12669ASG0 0.684180 5.621215 998.643520
B6 1,799,154.57 6.750000% 12669ASH8 0.684183 5.621216 998.643508
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 447,493,471.64 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 289,932,706.29 152,982,880.39 442,915,586.68
loan count 1804 951 2755
average loan rate 7.947745% 8.006702% 7.97
prepayment amount 3,368,619.50 903,078.17 4,271,697.67
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 0.00 0.00 0.00
sub servicer fees 61,146.37 32,099.18 93,245.55
trustee fees 0.00 0.00 0.00
Aggregate advances N/A N/A N/A
Advances this periods 0.00 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 0.00 0.00 0.00
special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.721773% 100.000000% 419,380,777.61
-----------------------------------------------------------------------------
Junior 6.278227% 0.000000% 28,093,446.91
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 44 6,613,059.59
60 to 89 days 2 87,408.12
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 46 6,700,467.71
- --------------------------------------------------------------------------------
<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 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 7,406,038.28 7,406,038.28
Principal remittance amount 4,577,884.99 4,577,884.99
Interest remittance amount 2,828,153.29 2,828,153.29
