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): March 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 March 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 March 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: March 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 March 25, 1999
Payment Date: 03/25/99
------------------------------------------------------------
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 17,755,983.85 6.750000% 422,030.76 99,877.41 521,908.17 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 8,978,635.48 6.750000% 747,934.76 50,504.82 798,439.58 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 103,076,555.00 6.750000% 3,075,069.59 579,805.62 3,654,875.21 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 96,053,621.78 6.750000% 3,032,653.86 540,301.62 3,572,955.48 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 203,206,573.55 0.825065% 0.00 139,715.51 139,715.51 0.00 0.00
X1B 42,948,756.29 0.825065% 0.00 29,529.59 29,529.59 0.00 0.00
X2 133,906,313.36 0.869447% 0.00 97,020.36 97,020.36 0.00 0.00
PO 83,685.60 0.000000% 89.99 0.00 89.99 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 13,195,156.76 6.750000% 9,674.90 74,222.76 83,897.66 0.00 0.00
B2 6,038,049.10 6.750000% 4,427.19 33,964.03 38,391.22 0.00 0.00
B3 3,354,471.82 6.750000% 2,459.55 18,868.90 21,328.46 0.00 0.00
B4 2,236,314.55 6.750000% 1,639.70 12,579.27 14,218.97 0.00 0.00
B5 1,341,789.13 6.750000% 983.82 7,547.56 8,531.39 0.00 0.00
B6 1,789,051.80 6.750000% 1,311.76 10,063.42 11,375.18 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 386,276,314.87 - 7,298,275.88 2,438,599.00 9,736,874.88 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 17,333,953.08 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 8,230,700.72 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 100,001,485.41 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 93,020,967.92 0.00
2A2 28,230,250.00 0.00
X1A 199,456,907.60 0.00
X1B 42,445,992.14 0.00
X2 130,866,709.86 0.00
PO 83,595.62 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,185,481.86 0.00
B2 6,033,621.91 0.00
B3 3,352,012.27 0.00
B4 2,234,674.85 0.00
B5 1,340,805.31 0.00
B6 1,787,740.04 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 378,978,038.99 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/99
------------------------------------------------------------
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 17,755,983.85 6.750000% 12669ARM8 19.183216 4.539882 787.906958
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 8,978,635.48 6.750000% 12669ARQ9 45.329379 3.060898 498.830347
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 103,076,555.00 6.750000% 12669ART3 22.948281 4.326908 746.279742
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 96,053,621.78 6.750000% 12669ARV8 25.920118 4.617963 795.051008
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 203,206,573.55 0.825065% 12669ARZ9 0.000000 0.618977 883.647551
X1B 42,948,756.29 0.825065% 12669ASX3 0.000000 0.468071 672.808301
X2 133,906,313.36 0.869447% 12669ASA3 0.000000 0.626289 844.775322
PO 83,685.60 0.000000% 12669ARY2 1.040575 0.000000 966.679884
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 13,195,156.76 6.750000% 12669ASC9 0.728609 5.589654 992.987577
B2 6,038,049.10 6.750000% 12669ASD7 0.728609 5.589654 992.987579
B3 3,354,471.82 6.750000% 12669ASE5 0.728609 5.589654 992.987575
B4 2,236,314.55 6.750000% 12669ASF2 0.728609 5.589654 992.987577
B5 1,341,789.13 6.750000% 12669ASG0 0.728609 5.589654 992.987580
B6 1,789,051.80 6.750000% 12669ASH8 0.728609 5.589654 992.987572
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 386,276,314.87 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-through Certificates, Series 1998-F
Residential Asset Securitization Trust, 1998-A6
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 248,111,329.15 130,866,709.86 378,978,039.01
loan count 1614 861 2475
average loan rate 7.936509% 8.003605% 7.96
prepayment amount 4,072,162.41 2,942,891.98 7,015,054.39
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 9,119.89 3,163.73 12,283.63
sub servicer fees 52,577.08 27,914.76 80,491.84
trustee fees 1,892.78 1,004.30 2,897.07
Aggregate advances N/A N/A N/A
Advances this periods 38,519.23 31,940.69 70,459.92
- --------------------------------------------------------------------------------
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 3,862,763.15 3,862,763.15 7,725,526.30
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.767918% 100.000000% 358,321,481.70
-----------------------------------------------------------------------------
Junior 7.232082% 0.000000% 27,934,336.24
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 41 6,579,985.33
60 to 89 days 11 1,749,194.45
90 or more 5 721,552.23
Foreclosure 3 372,812.30
Totals: 60 9,423,544.31
- --------------------------------------------------------------------------------
<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 9,736,874.88 9,736,874.88
Principal remittance amount 7,298,275.88 7,298,275.88
Interest remittance amount 2,438,599.00 2,438,599.00
