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): November 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 November 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 November 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
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 13,869,427.21 6.750000% 241,084.60 78,015.53 319,100.13 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 2,090,770.75 6.750000% 427,256.89 11,760.59 439,017.48 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 74,757,690.07 6.750000% 1,756,630.07 420,512.01 2,177,142.08 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 77,221,208.60 6.750000% 1,459,868.52 434,369.30 1,894,237.82 0.00 0.00
2A2 28,230,250.00 6.750000% 0.00 158,795.16 158,795.16 0.00 0.00
X1A 174,562,865.98 0.808236% 0.00 117,573.38 117,573.38 0.00 0.00
X1B 32,971,966.02 0.808236% 0.00 22,207.62 22,207.62 0.00 0.00
X2 115,016,530.12 0.869938% 0.00 83,381.02 83,381.02 0.00 0.00
PO 77,642.71 0.000000% 96.70 0.00 96.70 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 13,115,178.21 6.750000% 10,530.52 73,772.88 84,303.40 0.00 0.00
B2 6,001,451.25 6.750000% 4,818.72 33,758.16 38,576.89 0.00 0.00
B3 3,334,139.68 6.750000% 2,677.07 18,754.54 21,431.60 0.00 0.00
B4 2,222,759.79 6.750000% 1,784.71 12,503.02 14,287.74 0.00 0.00
B5 1,333,656.27 6.750000% 1,070.83 7,501.82 8,572.64 0.00 0.00
B6 1,778,207.99 6.750000% 1,427.77 10,002.42 11,430.19 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 328,175,132.54 - 3,907,246.41 2,068,710.39 5,975,956.80 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 13,628,342.61 0.00
1A2 15,842,750.00 0.00
1A3 11,000,000.00 0.00
1A4 1,663,513.86 0.00
1A5 20,500,000.00 0.00
1A6 500,000.00 0.00
1A7 73,001,060.00 0.00
1A8 26,300,000.00 0.00
1A9 30,000,000.00 0.00
2A1 75,761,340.08 0.00
2A2 28,230,250.00 0.00
X1A 172,130,263.40 0.00
X1B 32,971,966.02 0.00
X2 113,549,167.21 0.00
PO 77,546.00 0.00
Residual AR 0.00 0.00
Y 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 13,104,647.69 0.00
B2 5,996,632.53 0.00
B3 3,331,462.61 0.00
B4 2,220,975.08 0.00
B5 1,332,585.45 0.00
B6 1,776,780.22 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 324,267,886.13 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
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 13,869,427.21 6.750000% 12669ARM8 10.958391 3.546160 619.470119
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 2,090,770.75 6.750000% 12669ARQ9 25.894357 0.712763 100.819022
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 74,757,690.07 6.750000% 12669ART3 13.109180 3.138149 544.784030
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 77,221,208.60 6.750000% 12669ARV8 12.477509 3.712558 647.532821
2A2 28,230,250.00 6.750000% 12669ARW6 0.000000 5.625000 1,000.000000
X1A 174,562,865.98 0.808236% 12669ARZ9 0.000000 0.520882 762.583194
X1B 32,971,966.02 0.808236% 12669ASX3 0.000000 0.352011 522.636209
X2 115,016,530.12 0.869938% 12669ASA3 0.000000 0.538244 732.986520
PO 77,642.71 0.000000% 12669ARY2 1.118256 0.000000 896.724023
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 13,115,178.21 6.750000% 12669ASC9 0.793045 5.555774 986.900024
B2 6,001,451.25 6.750000% 12669ASD7 0.793045 5.555774 986.900025
B3 3,334,139.68 6.750000% 12669ASE5 0.793045 5.555773 986.900022
B4 2,222,759.79 6.750000% 12669ASF2 0.793045 5.555774 986.900023
B5 1,333,656.27 6.750000% 12669ASG0 0.793045 5.555774 986.900027
B6 1,778,207.99 6.750000% 12669ASH8 0.793045 5.555773 986.900003
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 328,175,132.54 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 210,718,718.94 113,549,167.21 324,267,886.15
loan count 1403 760 2163
average loan rate 7.918454% 8.004120% 7.95
prepayment amount 2,266,549.02 1,377,245.57 3,643,794.59
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 12,988.83 8,589.39 21,578.22
sub servicer fees 44,408.04 23,979.29 68,387.33
trustee fees 1,598.69 862.62 2,461.31
Aggregate advances N/A N/A N/A
Advances this periods 26,442.25 25,241.07 51,683.32
- --------------------------------------------------------------------------------
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 3,281,751.33 3,281,751.33 6,563,502.65
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.539587% 100.000000% 300,389,739.34
-----------------------------------------------------------------------------
Junior 8.460413% 0.000000% 27,763,083.58
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 36 4,722,800.34
60 to 89 days 6 847,396.36
90 or more 1 64,719.16
Foreclosure 9 1,075,316.44
Totals: 52 6,710,232.30
- --------------------------------------------------------------------------------
<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: 55,808.64
Current Total Outstanding Number of Loans: 1
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 5,975,956.80 5,975,956.80
Principal remittance amount 3,907,246.41 3,907,246.41
Interest remittance amount 2,068,710.39 2,068,710.39
