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, 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 December 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 December 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: December 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 December 25, 1998
Payment Date: 12/25/98
------------------------------------------------------------
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 19,117,204.72 6.750000% 419,505.61 107,534.28 527,039.88 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 11,391,029.31 6.750000% 743,459.61 64,074.54 807,534.15 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 112,994,905.26 6.750000% 3,056,670.40 635,596.34 3,692,266.74 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 103,835,816.11 6.750000% 2,370,359.13 584,076.47 2,954,435.59 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 213,021,595.63 0.821705% 0.00 145,867.45 145,867.45 0.00 0.00
X1B 46,846,389.03 0.821705% 0.00 32,078.26 32,078.26 0.00 0.00
X2 141,709,093.21 0.868393% 0.00 102,549.33 102,549.33 0.00 0.00
PO 83,970.28 0.000000% 106.13 0.00 106.13 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 13,223,730.31 6.750000% 9,466.35 74,383.48 83,849.83 0.00 0.00
B2 6,051,124.24 6.750000% 4,331.76 34,037.57 38,369.34 0.00 0.00
B3 3,361,735.79 6.750000% 2,406.53 18,909.76 21,316.30 0.00 0.00
B4 2,241,157.20 6.750000% 1,604.36 12,606.51 14,210.87 0.00 0.00
B5 1,344,694.72 6.750000% 962.61 7,563.91 8,526.52 0.00 0.00
B6 1,792,925.92 6.750000% 1,283.49 10,085.21 11,368.69 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 407,811,293.84 - 6,610,155.97 2,573,961.24 9,184,117.21 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 18,697,699.11 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 10,647,569.70 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 109,938,234.86 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 101,465,456.98 0.00
2A2 28,230,250.00 0.00
X1A 209,995,538.30 0.00
X1B 45,646,507.87 0.00
X2 139,331,911.26 0.00
PO 83,864.15 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,214,263.96 0.00
B2 6,046,792.48 0.00
B3 3,359,329.25 0.00
B4 2,239,552.84 0.00
B5 1,343,732.11 0.00
B6 1,791,642.43 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 401,201,137.87 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/98
------------------------------------------------------------
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 19,117,204.72 6.750000% 12669ARM8 19.068437 4.887922 849.895414
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 11,391,029.31 6.750000% 12669ARQ9 45.058158 3.883305 645.307254
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 112,994,905.26 6.750000% 12669ART3 22.810973 4.743256 820.434588
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 103,835,816.11 6.750000% 12669ARV8 20.259480 4.992107 867.226128
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 213,021,595.63 0.821705% 12669ARZ9 0.000000 0.646232 930.336509
X1B 46,846,389.03 0.821705% 12669ASX3 0.000000 0.508470 723.539440
X2 141,709,093.21 0.868393% 12669ASA3 0.000000 0.661980 899.420183
PO 83,970.28 0.000000% 12669ARY2 1.227243 0.000000 969.785156
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 13,223,730.31 6.750000% 12669ASC9 0.712903 5.601758 995.155133
B2 6,051,124.24 6.750000% 12669ASD7 0.712903 5.601758 995.155135
B3 3,361,735.79 6.750000% 12669ASE5 0.712903 5.601758 995.155131
B4 2,241,157.20 6.750000% 12669ASF2 0.712903 5.601758 995.155133
B5 1,344,694.72 6.750000% 12669ASG0 0.712903 5.601758 995.155136
B6 1,792,925.92 6.750000% 12669ASH8 0.712903 5.601758 995.155128
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 407,811,293.84 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 261,869,226.63 139,331,911.26 401,201,137.89
loan count 1684 896 2580
average loan rate 7.934324% 8.002543% 7.96
prepayment amount 4,041,306.64 2,276,917.19 6,318,223.83
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
servicing fees 17,010.78 9,307.48 26,318.26
sub servicer fees 55,437.96 29,540.37 84,978.33
trustee fees 1,995.77 1,062.82 3,058.58
Aggregate advances N/A N/A N/A
Advances this periods 40,760.92 30,567.26 71,328.18
- --------------------------------------------------------------------------------
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 4,078,112.94 4,078,112.94 8,156,225.88
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.134891% 100.000000% 379,795,925.67
-----------------------------------------------------------------------------
Junior 6.865109% 0.000000% 27,995,313.07
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 54 7,633,536.56
60 to 89 days 8 1,020,665.47
90 or more 4 353,410.52
Foreclosure 3 435,046.88
Totals: 69 9,442,659.43
- --------------------------------------------------------------------------------
<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 9,184,117.21 9,184,117.21
Principal remittance amount 6,610,155.97 6,610,155.97
Interest remittance amount 2,573,961.24 2,573,961.24