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): February 25, 1999
CWMBS INC
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-9)
(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 1998-9
On February 25, 1999, The Bank of New York, as Trustee for CWMBS INC, Mortgage
Pass-Through Certificates Series 1998-9, 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,
Countrywide Home Loans, 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 1998-9 relating to the distribution date
of February 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: February 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 February 25, 1999
Payment Date: 02/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
<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 53,918,101.23 6.500000% 493,964.35 292,056.38 786,020.73 0.00 0.00
2A1 90,721,995.62 6.500000% 3,209,692.53 491,410.81 3,701,103.34 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,465,431.60 6.500000% 90,075.00 143,354.42 233,429.42 0.00 0.00
PO 149,955.29 0.000000% 638.29 0.00 638.29 0.00 0.00
X1 54,063,530.38 0.680657% 0.00 30,665.62 30,665.62 0.00 0.00
X2 117,321,479.88 0.447594% 0.00 43,587.35 43,587.35 0.00 0.00
M 3,218,605.24 6.500000% 10,923.03 17,434.11 28,357.15 0.00 0.00
B1 780,268.32 6.500000% 2,648.01 4,226.45 6,874.46 0.00 0.00
B2 585,201.06 6.500000% 1,986.00 3,169.84 5,155.84 0.00 0.00
B3 487,667.46 6.500000% 1,655.00 2,641.53 4,296.54 0.00 0.00
B4 390,134.36 6.500000% 1,324.00 2,113.23 3,437.23 0.00 0.00
B5 390,136.90 6.500000% 1,324.01 2,113.24 3,437.25 0.00 0.00
Residual AR 0.00 6.500000% 0.00 1.00 1.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 182,783,196.08 - 3,814,230.23 1,063,517.36 4,877,747.60 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 53,424,136.88 0.00
2A1 87,512,303.09 0.00
2A2 5,675,699.00 0.00
2A3 26,375,356.60 0.00
PO 149,317.00 0.00
X1 53,570,520.44 0.00
X2 114,047,107.47 0.00
M 3,207,682.21 0.00
B1 777,620.31 0.00
B2 583,215.06 0.00
B3 486,012.46 0.00
B4 388,810.36 0.00
B5 388,812.89 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 178,968,965.84 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
<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 53,918,101.23 6.500000% 12669ASJ4 8.489047 5.019148 918.122922
2A1 90,721,995.62 6.500000% 12669ASZ8 31.163710 4.771231 849.678903
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,465,431.60 6.500000% 12669ASL9 3.315535 5.276676 970.839955
PO 149,955.29 0.000000% 12669ASR6 4.129032 0.000000 965.915284
X1 54,063,530.38 0.680657% 12669ASS4 0.000000 0.525760 918.463407
X2 117,321,479.88 0.447594% 12669AST2 0.000000 0.334980 876.480543
M 3,218,605.24 6.500000% 12669ASN5 3.306926 5.278142 971.119415
B1 780,268.32 6.500000% 12669ASP0 3.306927 5.278145 971.119820
B2 585,201.06 6.500000% 12669ASQ8 3.306927 5.278148 971.120331
B3 487,667.46 6.500000% 12669ASU9 3.306927 5.278145 971.119827
B4 390,134.36 6.500000% 12669ASV7 3.306927 5.278148 971.120319
B5 390,136.90 6.500000% 12669ASW5 3.306927 5.278148 971.120336
Residual AR 0.00 6.500000% 0.000000 10.019240 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 182,783,196.08 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 55,189,783.82 123,779,178.74 178,968,962.56
loan count 608 389 997
average loan rate 7.417870% 7.165348% 7.24
prepayment amount 312,206.94 2,881,681.20 3,193,888.14
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 11,453.46 23,023.49 34,476.96
sub servicer fees 0.00 0.00 0.00
trustee fees 417.67 953.20 1,370.87
Aggregate advances N/A N/A N/A
Advances this periods 4,937.73 8,556.53 13,494.26
- --------------------------------------------------------------------------------
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 100,000.00 0.00 100,000.00
Fraud 2,001,865.00 2,803,616.41 4,805,481.41
Special Hazard 3,233,552.97 3,233,552.97 6,467,105.94
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 182,783,196.08
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 6 1,291,512.09
60 to 89 days 1 136,749.50
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 7 1,428,261.59
- --------------------------------------------------------------------------------
<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 4,877,747.60 4,877,747.60
Principal remittance amount 3,814,230.23 3,814,230.23
Interest remittance amount 1,063,517.36 1,063,517.36
