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): September 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 September 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 September 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: September 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 September 25, 1998
Payment Date: 09/25/98
------------------------------------------------------------
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 21,085,255.19 6.750000% 356,393.37 118,604.56 474,997.93 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 14,878,863.57 6.750000% 631,610.32 83,693.61 715,303.93 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 127,334,836.63 6.750000% 2,596,811.66 716,258.46 3,313,070.12 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 112,419,077.53 6.750000% 3,897,335.77 632,357.31 4,529,693.08 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 220,562,119.43 0.832112% 0.00 152,943.57 152,943.57 0.00 0.00
X1B 59,122,559.72 0.832112% 0.00 40,997.14 40,997.14 0.00 0.00
X2 150,312,422.31 0.868893% 0.00 108,837.86 108,837.86 0.00 0.00
PO 84,228.98 0.000000% 86.86 0.00 86.86 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 13,251,445.36 6.750000% 9,200.09 74,539.38 83,739.47 0.00 0.00
B2 6,063,806.53 6.750000% 4,209.92 34,108.91 38,318.83 0.00 0.00
B3 3,368,781.51 6.750000% 2,338.85 18,949.40 21,288.24 0.00 0.00
B4 2,245,854.34 6.750000% 1,559.23 12,632.93 14,192.16 0.00 0.00
B5 1,347,513.01 6.750000% 935.54 7,579.76 8,515.30 0.00 0.00
B6 1,796,683.63 6.750000% 1,247.38 10,106.35 11,353.73 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 436,249,346.28 - 7,501,728.99 2,756,207.35 10,257,936.34 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 20,728,861.82 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 14,247,253.25 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 124,738,024.97 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 108,521,741.76 0.00
2A2 28,230,250.00 0.00
X1A 218,309,275.59 0.00
X1B 57,783,621.37 0.00
X2 146,408,499.00 0.00
PO 84,142.12 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,242,245.27 0.00
B2 6,059,596.61 0.00
B3 3,366,442.66 0.00
B4 2,244,295.11 0.00
B5 1,346,577.47 0.00
B6 1,795,436.25 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 428,747,617.29 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/98
------------------------------------------------------------
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 21,085,255.19 6.750000% 12669ARM8 16.199698 5.391116 942.220992
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 14,878,863.57 6.750000% 12669ARQ9 38.279414 5.072340 863.469894
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 127,334,836.63 6.750000% 12669ART3 19.379191 5.345212 930.880783
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 112,419,077.53 6.750000% 12669ARV8 33.310562 5.404763 927.536254
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 220,562,119.43 0.832112% 12669ARZ9 0.000000 0.677581 967.168594
X1B 59,122,559.72 0.832112% 12669ASX3 0.000000 0.649843 915.923934
X2 150,312,422.31 0.868893% 12669ASA3 0.000000 0.702574 945.101218
PO 84,228.98 0.000000% 12669ARY2 1.004431 0.000000 972.999538
Residual AR 0.00 6.750000% 12669ASB1 0.000000 0.001116 0.000000
Y 0.00 0.000000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 13,251,445.36 6.750000% 12669ASC9 0.692851 5.613498 997.262382
B2 6,063,806.53 6.750000% 12669ASD7 0.692851 5.613498 997.262384
B3 3,368,781.51 6.750000% 12669ASE5 0.692851 5.613498 997.262380
B4 2,245,854.34 6.750000% 12669ASF2 0.692851 5.613498 997.262381
B5 1,347,513.01 6.750000% 12669ASG0 0.692851 5.613498 997.262385
B6 1,796,683.63 6.750000% 12669ASH8 0.692851 5.613498 997.262377
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 436,249,346.28 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 282,339,118.31 146,408,499.00 428,747,617.31
loan count 1768 932 2700
average loan rate 7.945928% 8.003034% 7.97
prepayment amount 3,397,391.81 3,801,452.04 7,198,843.85
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 20,129.44 5,542.78 25,672.22
sub servicer fees 59,570.19 31,332.76 90,902.96
trustee fees 2,144.53 1,127.34 3,271.87
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 9,001,824.00 0.00 9,001,824.00
Special Hazard 4,362,493.46 4,362,493.46 8,724,986.93
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.568851% 100.000000% 408,175,261.90
-----------------------------------------------------------------------------
Junior 6.431149% 0.000000% 28,054,593.37
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 50 8,501,773.73
60 to 89 days 7 856,233.71
90 or more 5 676,232.51
Foreclosure 0 0.00
Totals: 62 10,034,239.95
- --------------------------------------------------------------------------------
<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 10,257,936.34 10,257,936.34
Principal remittance amount 7,501,728.99 7,501,728.99
Interest remittance amount 2,756,207.35 2,756,207.35