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): February 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 February 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 February 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: February 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 February 25, 1999
Payment Date: 02/25/99
------------------------------------------------------------
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 18,138,226.17 6.750000% 382,242.33 102,027.52 484,269.85 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 9,656,056.06 6.750000% 677,420.58 54,315.32 731,735.89 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 105,861,711.58 6.750000% 2,785,156.58 595,472.13 3,380,628.71 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 97,558,802.77 6.750000% 1,505,180.99 548,768.27 2,053,949.26 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 206,721,778.09 0.824729% 0.00 142,074.57 142,074.57 0.00 0.00
X1B 43,285,627.36 0.824729% 0.00 29,749.10 29,749.10 0.00 0.00
X2 135,418,464.49 0.869664% 0.00 98,140.48 98,140.48 0.00 0.00
PO 83,774.59 0.000000% 88.99 0.00 88.99 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 13,204,802.51 6.750000% 9,645.75 74,277.01 83,922.77 0.00 0.00
B2 6,042,462.96 6.750000% 4,413.86 33,988.85 38,402.71 0.00 0.00
B3 3,356,923.96 6.750000% 2,452.14 18,882.70 21,334.84 0.00 0.00
B4 2,237,949.31 6.750000% 1,634.76 12,588.46 14,223.23 0.00 0.00
B5 1,342,769.99 6.750000% 980.86 7,553.08 8,533.94 0.00 0.00
B6 1,790,359.61 6.750000% 1,307.81 10,070.77 11,378.58 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 391,646,839.51 - 5,370,524.64 2,472,506.39 7,843,031.03 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 17,755,983.85 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 8,978,635.48 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 103,076,555.00 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 96,053,621.78 0.00
2A2 28,230,250.00 0.00
X1A 203,206,573.55 0.00
X1B 42,948,756.29 0.00
X2 133,906,313.36 0.00
PO 83,685.60 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,195,156.76 0.00
B2 6,038,049.10 0.00
B3 3,354,471.82 0.00
B4 2,236,314.55 0.00
B5 1,341,789.13 0.00
B6 1,789,051.80 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 386,276,314.87 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/99
------------------------------------------------------------
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 18,138,226.17 6.750000% 12669ARM8 17.374651 4.637615 807.090175
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 9,656,056.06 6.750000% 12669ARQ9 41.055792 3.291837 544.159726
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 105,861,711.58 6.750000% 12669ART3 20.784751 4.443822 769.228022
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 97,558,802.77 6.750000% 12669ARV8 12.864795 4.690327 820.971126
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 206,721,778.09 0.824729% 12669ARZ9 0.000000 0.629428 900.259576
X1B 43,285,627.36 0.824729% 12669ASX3 0.000000 0.471551 680.777578
X2 135,418,464.49 0.869664% 12669ASA3 0.000000 0.633520 864.396676
PO 83,774.59 0.000000% 12669ARY2 1.029063 0.000000 967.720459
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 13,204,802.51 6.750000% 12669ASC9 0.726413 5.593740 993.716185
B2 6,042,462.96 6.750000% 12669ASD7 0.726413 5.593740 993.716187
B3 3,356,923.96 6.750000% 12669ASE5 0.726413 5.593740 993.716184
B4 2,237,949.31 6.750000% 12669ASF2 0.726413 5.593740 993.716185
B5 1,342,769.99 6.750000% 12669ASG0 0.726413 5.593740 993.716189
B6 1,790,359.61 6.750000% 12669ASH8 0.726413 5.593740 993.716181
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 391,646,839.51 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
total
-----
Principal balance 252,370,001.53 133,906,313.36 386,276,314.89
Aggregated loan count 1633 870 2503
Aggregated average loan rate 7.936499% 8.003820% 7.96
Aggregated prepayment amount 3,670,300.14 1,414,130.03 5,084,430.17
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 17,609.15 9,497.57 27,106.71
sub servicer fees 53,380.91 28,229.80 81,610.71
trustee fees 1,921.71 1,015.64 2,937.35
Aggregate advances N/A N/A N/A
Advances this periOds 51,586.62 23,077.95 74,664.57
- --------------------------------------------------------------------------------
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 3,916,468.40 3,916,468.40 7,832,936.79
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.861862% 100.000000% 363,671,571.17
-----------------------------------------------------------------------------
Junior 7.138138% 0.000000% 27,954,833.17
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 51 7,611,441.10
60 to 89 days 8 988,296.62
90 or more 7 1,031,958.00
Foreclosure 2 332,077.23
Totals: 68 9,963,772.95
- --------------------------------------------------------------------------------
<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 7,843,031.03 7,843,031.03
Principal remittance amount 5,370,524.64 5,370,524.64
Interest remittance amount 2,472,506.39 2,472,506.39
