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): August 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 August 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 August 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: August 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 August 25, 1998
Payment Date: 08/25/98
------------------------------------------------------------
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 21,481,030.61 6.750000% 395,775.42 120,830.80 516,606.22 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 15,580,267.88 6.750000% 701,404.31 87,639.01 789,043.32 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 130,218,600.29 6.750000% 2,883,763.66 732,479.63 3,616,243.29 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 115,082,945.37 6.750000% 2,663,867.84 647,341.57 3,311,209.41 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 222,549,714.60 0.832539% 0.00 154,401.10 154,401.10 0.00 0.00
X1B 61,025,006.13 0.832539% 0.00 42,338.08 42,338.08 0.00 0.00
X2 152,982,880.39 0.832539% 0.00 111,102.28 111,102.28 0.00 0.00
PO 86,295.59 0.000000% 2,066.62 0.00 2,066.62 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 13,260,584.81 6.750000% 9,139.45 74,590.79 83,730.24 0.00 0.00
B2 6,067,988.70 6.750000% 4,182.17 34,132.44 38,314.61 0.00 0.00
B3 3,371,104.94 6.750000% 2,323.43 18,962.44 21,285.87 0.00 0.00
B4 2,247,403.29 6.750000% 1,548.95 12,641.64 14,190.59 0.00 0.00
B5 1,348,442.38 6.750000% 929.37 7,584.99 8,514.36 0.00 0.00
B6 1,797,922.79 6.750000% 1,239.16 10,113.32 11,352.48 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 442,915,586.65 - 6,666,240.38 2,798,756.22 9,464,996.60 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 21,085,255.19 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 14,878,863.57 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 127,334,836.63 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 112,419,077.53 0.00
2A2 28,230,250.00 0.00
X1A 220,562,119.43 0.00
X1B 59,122,559.72 0.00
X2 150,312,422.31 0.00
PO 84,228.98 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,251,445.36 0.00
B2 6,063,806.53 0.00
B3 3,368,781.51 0.00
B4 2,245,854.34 0.00
B5 1,347,513.01 0.00
B6 1,796,683.63 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 436,249,346.28 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/98
------------------------------------------------------------
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 21,481,030.61 6.750000% 12669ARM8 17.989792 5.492309 958.420690
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 15,580,267.88 6.750000% 12669ARQ9 42.509352 5.311455 901.749307
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 130,218,600.29 6.750000% 12669ART3 21.520624 5.466266 950.259975
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 115,082,945.37 6.750000% 12669ARV8 22.768101 5.532834 960.846816
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 222,549,714.60 0.832539% 12669ARZ9 0.000000 0.684038 977.149295
X1B 61,025,006.13 0.832539% 12669ASX3 0.000000 0.671098 937.147347
X2 152,982,880.39 0.832539% 12669ASA3 0.000000 0.717191 970.301959
PO 86,295.59 0.000000% 12669ARY2 23.897904 0.000000 974.003967
Residual AR 0.00 6.750000% 12669ASB1 0.000000 0.000000 0.000000
Y 0.00 0.000000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 13,260,584.81 6.750000% 12669ASC9 0.688284 5.617370 997.955233
B2 6,067,988.70 6.750000% 12669ASD7 0.688284 5.617370 997.955234
B3 3,371,104.94 6.750000% 12669ASE5 0.688284 5.617362 997.955232
B4 2,247,403.29 6.750000% 12669ASF2 0.688283 5.617368 997.955232
B5 1,348,442.38 6.750000% 12669ASG0 0.688283 5.617371 997.955237
B6 1,797,922.79 6.750000% 12669ASH8 0.688283 5.617372 997.955226
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 442,915,586.65 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 285,936,923.99 150,312,422.31 436,249,346.30
loan count 1787 945 2732
average loan rate 7.946273% 8.005627% 7.97
prepayment amount 3,794,774.93 2,566,194.70 6,360,969.63
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 19,331.57 9,689.66 29,021.23
sub servicer fees 60,402.65 31,889.12 92,291.77
trustee fees 2,174.50 1,147.37 3,321.87
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 4,429,155.87 4,429,155.87 8,858,311.73
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.661250% 100.000000% 414,822,139.74
-----------------------------------------------------------------------------
Junior 6.338750% 0.000000% 28,074,084.38
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 35 4,449,429.01
60 to 89 days 8 1,174,703.28
90 or more 1 37,408.12
Foreclosure 0 0.00
Totals: 44 5,661,540.41
- --------------------------------------------------------------------------------
<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 9,464,996.60 9,464,996.60
Principal remittance amount 6,666,240.38 6,666,240.38
Interest remittance amount 2,798,756.22 2,798,756.22
