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): January 25, 1999
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 January 25, 1999, 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 January 25, 1999 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: January 25, 1999
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 January 25, 1999
Payment Date: 01/25/99
------------------------------------------------------------
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 18,697,699.11 6.750000% 559,472.94 105,174.56 664,647.50 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 10,647,569.70 6.750000% 991,513.64 59,892.58 1,051,406.22 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 109,938,234.86 6.750000% 4,076,523.28 618,402.57 4,694,925.85 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 101,465,456.98 6.750000% 3,906,654.21 570,743.20 4,477,397.41 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 209,995,538.30 0.822805% 0.00 143,987.74 143,987.74 0.00 0.00
X1B 45,646,507.87 0.822805% 0.00 31,298.46 31,298.46 0.00 0.00
X2 139,331,911.26 0.869925% 0.00 101,006.87 101,006.87 0.00 0.00
PO 83,864.15 0.000000% 89.56 0.00 89.56 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 13,214,263.96 6.750000% 9,461.45 74,330.23 83,791.69 0.00 0.00
B2 6,046,792.48 6.750000% 4,329.52 34,013.21 38,342.73 0.00 0.00
B3 3,359,329.25 6.750000% 2,405.29 18,896.23 21,301.52 0.00 0.00
B4 2,239,552.84 6.750000% 1,603.53 12,597.48 14,201.01 0.00 0.00
B5 1,343,732.11 6.750000% 962.12 7,558.49 8,520.61 0.00 0.00
B6 1,791,642.43 6.750000% 1,282.82 10,077.99 11,360.81 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 401,201,137.87 - 9,554,298.36 2,532,577.74 12,086,876.10 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 18,138,226.17 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 9,656,056.06 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 105,861,711.58 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 97,558,802.77 0.00
2A2 28,230,250.00 0.00
X1A 206,721,778.09 0.00
X1B 43,285,627.36 0.00
X2 135,418,464.49 0.00
PO 83,774.59 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,204,802.51 0.00
B2 6,042,462.96 0.00
B3 3,356,923.96 0.00
B4 2,237,949.31 0.00
B5 1,342,769.99 0.00
B6 1,790,359.61 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 391,646,839.51 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/99
------------------------------------------------------------
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 18,697,699.11 6.750000% 12669ARM8 25.430588 4.780662 824.464826
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 10,647,569.70 6.750000% 12669ARQ9 60.091736 3.629853 585.215519
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 109,938,234.86 6.750000% 12669ART3 30.421816 4.614945 790.012773
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 101,465,456.98 6.750000% 12669ARV8 33.390207 4.878147 833.835921
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 209,995,538.30 0.822805% 12669ARZ9 0.000000 0.637904 915.832874
X1B 45,646,507.87 0.822805% 12669ASX3 0.000000 0.496110 686.117297
X2 139,331,911.26 0.869925% 12669ASA3 0.000000 0.652023 874.157966
PO 83,864.15 0.000000% 12669ARY2 1.035634 0.000000 968.749522
Residual AR 0.00 6.750000% 12669ASB1 0.000000 0.001128 0.000000
Y 0.00 0.000000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 13,214,263.96 6.750000% 12669ASC9 0.712534 5.597748 994.442599
B2 6,046,792.48 6.750000% 12669ASD7 0.712534 5.597748 994.442601
B3 3,359,329.25 6.750000% 12669ASE5 0.712534 5.597748 994.442597
B4 2,239,552.84 6.750000% 12669ASF2 0.712534 5.597748 994.442599
B5 1,343,732.11 6.750000% 12669ASG0 0.712534 5.597748 994.442602
B6 1,791,642.43 6.750000% 12669ASH8 0.712534 5.597748 994.442594
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 401,201,137.87 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 256,228,375.04 135,418,464.49 391,646,839.53
loan count 1662 887 2549
average loan rate 7.935077% 8.004076% 7.96
prepayment amount 5,451,812.71 3,815,231.72 9,267,044.43
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
servicing fees 11,811.54 6,374.49 18,186.02
sub servicer fees 54,556.09 29,045.11 83,601.20
trustee fees 1,964.02 1,044.99 3,009.01
Aggregate advances N/A N/A N/A
Advances this periods 52,074.07 26,032.54 78,106.61
- --------------------------------------------------------------------------------
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 9,001,824.00 3,098,263.48 12,100,087.48
Special Hazard 4,012,011.38 4,012,011.38 8,024,022.76
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.026773% 100.000000% 373,205,824.80
-----------------------------------------------------------------------------
Junior 6.973227% 0.000000% 27,975,268.34
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 54 8,000,487.12
60 to 89 days 12 1,429,096.03
90 or more 2 427,771.15
Foreclosure 2 332,548.63
Totals: 70 10,189,902.93
- --------------------------------------------------------------------------------
<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 12,086,876.10 12,086,876.10
Principal remittance amount 9,554,298.36 9,554,298.36
Interest remittance amount 2,532,577.74 2,532,577.74
