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): December 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 December 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 December 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: December 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 December 25, 1999
Payment Date: 12/25/99
------------------------------------------------------------
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 13,628,342.61 6.750000% 185,850.69 76,659.43 262,510.11 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 1,663,513.86 6.750000% 329,369.80 9,357.27 338,727.07 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 73,001,060.00 6.750000% 1,354,175.69 410,630.96 1,764,806.65 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 75,761,340.08 6.750000% 313,931.87 426,157.54 740,089.41 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 172,130,263.40 0.806136% 0.00 115,633.60 115,633.60 0.00 0.00
X1B 32,971,966.02 0.806136% 0.00 22,149.89 22,149.89 0.00 0.00
X2 113,549,167.21 0.869353% 0.00 82,261.89 82,261.89 0.00 0.00
PO 77,546.00 0.000000% 114.18 0.00 114.18 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 13,104,647.69 6.750000% 10,681.35 73,713.64 84,394.99 0.00 0.00
B2 5,996,632.53 6.750000% 4,887.74 33,731.06 38,618.80 0.00 0.00
B3 3,331,462.61 6.750000% 2,715.41 18,739.48 21,454.89 0.00 0.00
B4 2,220,975.08 6.750000% 1,810.27 12,492.98 14,303.26 0.00 0.00
B5 1,332,585.45 6.750000% 1,086.17 7,495.79 8,581.96 0.00 0.00
B6 1,776,780.22 6.750000% 1,448.22 9,994.39 11,442.61 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 324,267,886.13 - 2,206,071.40 2,043,616.04 4,249,687.44 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 13,442,491.92 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 1,334,144.05 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 71,646,884.31 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 75,447,408.20 0.00
2A2 28,230,250.00 0.00
X1A 170,253,081.36 0.00
X1B 32,971,966.02 0.00
X2 113,227,600.94 0.00
PO 77,431.82 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,093,966.34 0.00
B2 5,991,744.79 0.00
B3 3,328,747.20 0.00
B4 2,219,164.80 0.00
B5 1,331,499.28 0.00
B6 1,775,332.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 322,061,814.73 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/99
------------------------------------------------------------
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 13,628,342.61 6.750000% 12669ARM8 8.447759 3.484519 611.022360
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 1,663,513.86 6.750000% 12669ARQ9 19.961806 0.567107 80.857215
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 73,001,060.00 6.750000% 12669ART3 10.105789 3.064410 534.678241
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 75,761,340.08 6.750000% 12669ARV8 2.683178 3.642372 644.849643
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 172,130,263.40 0.806136% 12669ARZ9 0.000000 0.512288 754.266775
X1B 32,971,966.02 0.806136% 12669ASX3 0.000000 0.351096 522.636209
X2 113,549,167.21 0.869353% 12669ASA3 0.000000 0.531020 730.910735
PO 77,546.00 0.000000% 12669ARY2 1.320352 0.000000 895.403671
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 13,104,647.69 6.750000% 12669ASC9 0.804403 5.551313 986.095620
B2 5,996,632.53 6.750000% 12669ASD7 0.804403 5.551313 986.095622
B3 3,331,462.61 6.750000% 12669ASE5 0.804403 5.551313 986.095618
B4 2,220,975.08 6.750000% 12669ASF2 0.804403 5.551313 986.095620
B5 1,332,585.45 6.750000% 12669ASG0 0.804403 5.551313 986.095624
B6 1,776,780.22 6.750000% 12669ASH8 0.804403 5.551313 986.095599
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 324,267,886.13 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 208,834,213.81 113,227,600.94 322,061,814.75
loan count 1389 753 2142
average loan rate 7.916165% 8.003538% 7.95
prepayment amount 1,710,937.27 230,865.54 1,941,802.81
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 16,354.07 11,261.65 27,615.72
sub servicer fees 43,899.73 23,673.58 67,573.31
trustee fees 1,580.39 851.62 2,432.01
Aggregate advances N/A N/A N/A
Advances this periods 32,130.43 19,827.39 51,957.82
- --------------------------------------------------------------------------------
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 2,951,782.05 1,549,131.74 4,500,913.79
Special Hazard 3,242,678.86 3,242,678.86 6,485,357.72
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.444607% 100.000000% 296,504,802.55
-----------------------------------------------------------------------------
Junior 8.555393% 0.000000% 27,740,454.42
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 31 4,373,408.71
60 to 89 days 7 911,487.75
90 or more 1 329,346.22
Foreclosure 11 1,137,548.10
Totals: 50 6,751,790.78
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 55,773.39
Current Total Outstanding Number of Loans: 1
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 4,249,687.44 4,249,687.44
Principal remittance amount 2,206,071.40 2,206,071.40
Interest remittance amount 2,043,616.04 2,043,616.04
