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): May 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 May 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 May 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: May 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 May 25, 1999
Payment Date: 05/25/99
------------------------------------------------------------
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 16,653,289.66 6.750000% 736,983.55 93,674.75 830,658.31 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 7,024,409.89 6.750000% 1,306,102.93 39,512.31 1,345,615.24 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 95,041,924.15 6.750000% 5,369,930.17 534,610.82 5,904,540.99 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 89,523,505.23 6.750000% 2,971,281.65 503,569.72 3,474,851.37 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 195,480,469.08 0.818659% 0.00 133,359.80 133,359.80 0.00 0.00
X1B 39,860,533.26 0.818659% 0.00 27,193.47 27,193.47 0.00 0.00
X2 127,362,292.65 0.872382% 0.00 92,590.43 92,590.43 0.00 0.00
PO 83,112.50 0.000000% 4,260.25 0.00 4,260.25 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 13,175,791.37 6.750000% 9,766.19 74,113.83 83,880.02 0.00 0.00
B2 6,029,187.58 6.750000% 4,468.97 33,914.18 38,383.15 0.00 0.00
B3 3,349,548.75 6.750000% 2,482.76 18,841.21 21,323.97 0.00 0.00
B4 2,233,032.51 6.750000% 1,655.17 12,560.81 14,215.98 0.00 0.00
B5 1,339,819.91 6.750000% 993.10 7,536.49 8,529.59 0.00 0.00
B6 1,786,426.17 6.750000% 1,324.14 10,048.65 11,372.79 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 368,613,047.72 - 10,409,248.90 2,326,124.59 12,735,373.49 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 15,916,306.10 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 5,718,306.96 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 89,671,993.98 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 86,552,223.58 0.00
2A2 28,230,250.00 0.00
X1A 191,562,880.66 0.00
X1B 36,563,384.06 0.00
X2 124,383,971.08 0.00
PO 78,852.25 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,166,025.18 0.00
B2 6,024,718.61 0.00
B3 3,347,065.99 0.00
B4 2,231,377.33 0.00
B5 1,338,826.80 0.00
B6 1,785,102.03 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 358,203,798.82 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 05/25/99
------------------------------------------------------------
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 16,653,289.66 6.750000% 12669ARM8 33.499252 4.257943 723.468459
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 7,024,409.89 6.750000% 12669ARQ9 79.157754 2.394685 346.564058
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 95,041,924.15 6.750000% 12669ART3 40.074106 3.989633 669.193985
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 89,523,505.23 6.750000% 12669ARV8 25.395570 4.304015 739.762595
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 195,480,469.08 0.818659% 12669ARZ9 0.000000 0.590820 848.674896
X1B 39,860,533.26 0.818659% 12669ASX3 0.000000 0.431042 579.563512
X2 127,362,292.65 0.872382% 12669ASA3 0.000000 0.597693 802.927722
PO 83,112.50 0.000000% 12669ARY2 49.264521 0.000000 911.828774
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 13,175,791.37 6.750000% 12669ASC9 0.735484 5.581450 991.522310
B2 6,029,187.58 6.750000% 12669ASD7 0.735484 5.581450 991.522312
B3 3,349,548.75 6.750000% 12669ASE5 0.735484 5.581450 991.522309
B4 2,233,032.51 6.750000% 12669ASF2 0.735484 5.581450 991.522310
B5 1,339,819.91 6.750000% 12669ASG0 0.735484 5.581450 991.522314
B6 1,786,426.17 6.750000% 12669ASH8 0.735484 5.581450 991.522306
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 368,613,047.72 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Stated principal balance 233,819,827.76 124,383,971.08 358,203,798.84
Loan count 1558 828 2386
Average loan rate 7.930279% 8.006547% 7.96
Prepayment amount 7,251,013.92 2,885,006.64 10,136,020.56
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master servicing fees 4,786.61 9,909.19 14,695.80
Sub servicer fees 50,260.57 26,551.40 76,811.97
Trustee fees 1,809.38 955.22 2,764.60
Aggregate advances N/A N/A N/A
Advances this periods 31,214.11 23,654.66 54,868.77
- --------------------------------------------------------------------------------
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 3,686,130.48 3,686,130.48 7,372,260.95
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.432530% 100.000000% 340,699,241.44
-----------------------------------------------------------------------------
Junior 7.567470% 0.000000% 27,893,115.94
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 32 5,163,933.53
60 to 89 days 9 1,104,998.00
90 or more 3 507,165.82
Foreclosure 4 478,637.93
Totals: 48 7,254,735.28
- --------------------------------------------------------------------------------
<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 12,735,373.49 12,735,373.49
Principal remittance amount 10,409,248.90 10,409,248.90
Interest remittance amount 2,326,124.59 2,326,124.59
