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): November 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 November 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 November 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: November 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 November 25, 1998
Payment Date: 11/25/98
------------------------------------------------------------
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 20,171,878.91 6.750000% 1,054,674.19 113,466.82 1,168,141.01 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 13,260,152.51 6.750000% 1,869,123.20 74,588.36 1,943,711.56 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 120,679,644.95 6.750000% 7,684,739.69 678,823.00 8,363,562.70 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 106,623,183.88 6.750000% 2,787,367.77 599,755.41 3,387,123.18 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 215,794,430.91 0.822157% 0.00 147,847.36 147,847.36 0.00 0.00
X1B 54,688,970.59 0.822157% 0.00 37,469.09 37,469.09 0.00 0.00
X2 144,503,207.09 0.867261% 0.00 104,434.95 104,434.95 0.00 0.00
PO 84,056.34 0.000000% 86.07 0.00 86.07 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 13,232,960.47 6.750000% 9,230.16 74,435.40 83,665.56 0.00 0.00
B2 6,055,347.92 6.750000% 4,223.68 34,061.33 38,285.01 0.00 0.00
B3 3,364,082.28 6.750000% 2,346.49 18,922.96 21,269.45 0.00 0.00
B4 2,242,721.52 6.750000% 1,564.33 12,615.31 14,179.64 0.00 0.00
B5 1,345,633.32 6.750000% 938.60 7,569.19 8,507.78 0.00 0.00
B6 1,794,177.38 6.750000% 1,251.46 10,092.25 11,343.71 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 421,226,839.48 - 13,415,545.64 2,658,679.55 16,074,225.19 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 19,117,204.72 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 11,391,029.31 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 112,994,905.26 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 103,835,816.11 0.00
2A2 28,230,250.00 0.00
X1A 213,021,595.63 0.00
X1B 46,846,389.03 0.00
X2 141,709,093.21 0.00
PO 83,970.28 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,223,730.31 0.00
B2 6,051,124.24 0.00
B3 3,361,735.79 0.00
B4 2,241,157.20 0.00
B5 1,344,694.72 0.00
B6 1,792,925.92 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 407,811,293.84 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/98
------------------------------------------------------------
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 20,171,878.91 6.750000% 12669ARM8 47.939736 5.157583 868.963851
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 13,260,152.51 6.750000% 12669ARQ9 113.280194 4.520507 690.365412
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 120,679,644.95 6.750000% 12669ART3 57.348804 5.065843 843.245562
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 106,623,183.88 6.750000% 12669ARV8 23.823656 5.126115 887.485608
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 215,794,430.91 0.822157% 12669ARZ9 0.000000 0.655003 943.742754
X1B 54,688,970.59 0.822157% 12669ASX3 0.000000 0.593920 742.558668
X2 144,503,207.09 0.867261% 12669ASA3 0.000000 0.674152 914.765451
PO 84,056.34 0.000000% 12669ARY2 0.995243 0.000000 971.012399
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 13,232,960.47 6.750000% 12669ASC9 0.695115 5.605668 995.868036
B2 6,055,347.92 6.750000% 12669ASD7 0.695115 5.605668 995.868037
B3 3,364,082.28 6.750000% 12669ASE5 0.695115 5.605668 995.868034
B4 2,242,721.52 6.750000% 12669ASF2 0.695115 5.605668 995.868035
B5 1,345,633.32 6.750000% 12669ASG0 0.695115 5.605668 995.868039
B6 1,794,177.38 6.750000% 12669ASH8 0.695115 5.605668 995.868031
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 421,226,839.48 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 266,102,200.65 141,709,093.21 407,811,293.86
loan count 1726 909 2635
average loan rate 7.935566% 8.001407% 7.96
prepayment amount 10,428,628.88 2,693,092.41 13,121,721.29
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 0.00 6,103.17 6,103.17
sub servicer fees 57,650.76 30,122.49 87,773.25
trustee fees 2,075.43 1,083.77 3,159.20
Aggregate advances N/A N/A N/A
Advances this periods 28,299.51 23,898.57 52,198.08
- --------------------------------------------------------------------------------
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 4,212,268.40 4,212,268.40 8,424,536.79
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.348793% 100.000000% 393,191,916.59
-----------------------------------------------------------------------------
Junior 6.651207% 0.000000% 28,015,368.17
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 37 5,832,147.58
60 to 89 days 3 234,027.62
90 or more 5 509,603.36
Foreclosure 3 437,637.93
Totals: 48 7,013,416.49
- --------------------------------------------------------------------------------
<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 16,074,225.19 16,074,225.19
Principal remittance amount 13,415,545.64 13,415,545.64
Interest remittance amount 2,658,679.55 2,658,679.55
