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 1998-9)
(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 March 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 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
------------------------------------------------------------
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 53,424,136.88 6.500000% 342,773.64 289,380.74 632,154.38 0.00 0.00
2A1 87,512,303.09 6.500000% 2,801,250.20 474,024.98 3,275,275.18 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,375,356.60 6.500000% 91,737.96 142,866.51 234,604.47 0.00 0.00
PO 149,317.00 0.000000% 642.63 0.00 642.63 0.00 0.00
X1 53,570,520.44 0.680968% 0.00 30,399.86 30,399.86 0.00 0.00
X2 114,047,107.47 0.449164% 0.00 42,515.85 42,515.85 0.00 0.00
M 3,207,682.21 6.500000% 11,098.51 17,374.95 28,473.46 0.00 0.00
B1 777,620.31 6.500000% 2,690.46 4,212.11 6,902.57 0.00 0.00
B2 583,215.06 6.500000% 2,017.55 3,159.08 5,176.63 0.00 0.00
B3 486,012.46 6.500000% 1,681.29 2,632.57 4,313.86 0.00 0.00
B4 388,810.36 6.500000% 1,345.23 2,106.06 3,451.29 0.00 0.00
B5 388,812.89 6.500000% 1,345.24 2,106.07 3,451.31 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 178,968,965.84 - 3,256,582.71 1,041,522.14 4,298,104.86 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 53,081,363.25 0.00
2A1 84,711,052.89 0.00
2A2 5,675,699.00 0.00
2A3 26,283,618.64 0.00
PO 148,674.37 0.00
X1 53,228,682.94 0.00
X2 111,180,040.89 0.00
M 3,196,583.70 0.00
B1 774,929.85 0.00
B2 581,197.51 0.00
B3 484,331.17 0.00
B4 387,465.12 0.00
B5 387,467.65 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 175,712,383.15 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/99
------------------------------------------------------------
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 53,424,136.88 6.500000% 12669ASJ4 5.890752 4.973166 912.232170
2A1 87,512,303.09 6.500000% 12669ASZ8 27.198041 4.602427 822.480862
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,375,356.60 6.500000% 12669ASL9 3.376746 5.258716 967.463209
PO 149,317.00 0.000000% 12669ASR6 4.157128 0.000000 961.758156
X1 53,570,520.44 0.680968% 12669ASS4 0.000000 0.521204 912.602623
X2 114,047,107.47 0.449164% 12669AST2 0.000000 0.326745 854.446420
M 3,207,682.21 6.500000% 12669ASN5 3.360052 5.260232 967.759365
B1 777,620.31 6.500000% 12669ASP0 3.359942 5.260232 967.759876
B2 583,215.06 6.500000% 12669ASQ8 3.359453 5.260235 967.760886
B3 486,012.46 6.500000% 12669ASU9 3.359449 5.260232 967.760387
B4 388,810.36 6.500000% 12669ASV7 3.359942 5.260235 967.760363
B5 388,812.89 6.500000% 12669ASW5 3.359945 5.260236 967.760398
Residual AR 0.00 6.500000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 178,968,965.84 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 54,840,949.26 120,871,430.36 175,712,379.62
loan count 606 382 988
average loan rate 7.418070% 7.165864% 7.24
prepayment amount 160,236.43 2,477,205.19 2,637,441.62
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 11,497.87 23,691.00 35,188.87
sub servicer fees 0.00 0.00 0.00
trustee fees 413.92 928.34 1,342.27
Aggregate advances N/A N/A N/A
Advances this periods 4,096.90 6,663.90 10,760.80
- --------------------------------------------------------------------------------
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 2,883,809.04 2,883,809.04 5,767,618.08
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 178,968,965.84
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 4 1,100,741.86
60 to 89 days 1 37,217.30
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 5 1,137,959.16
- --------------------------------------------------------------------------------
<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 4,298,104.86 4,298,104.86
Principal remittance amount 3,256,582.71 3,256,582.71
Interest remittance amount 1,041,522.14 1,041,522.14
