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): December 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 December 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 December 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: December 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 December 25, 1999
Payment Date: 12/25/99
------------------------------------------------------------
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 47,544,661.91 6.500000% 714,473.86 257,533.59 972,007.45 0.00 0.00
2A1 68,835,882.61 6.500000% 685,092.42 372,861.03 1,057,953.45 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 25,518,025.46 6.500000% 99,862.13 138,222.64 238,084.77 0.00 0.00
PO 130,226.92 0.000000% 546.77 0.00 546.77 0.00 0.00
X1 47,793,085.92 0.679025% 0.00 27,043.92 27,043.92 0.00 0.00
X2 95,898,886.33 0.440698% 0.00 35,051.46 35,051.46 0.00 0.00
M 3,104,251.90 6.500000% 12,029.81 16,814.70 28,844.51 0.00 0.00
B1 752,545.98 6.500000% 2,916.32 4,076.29 6,992.61 0.00 0.00
B2 564,408.99 6.500000% 2,187.24 3,057.22 5,244.45 0.00 0.00
B3 470,341.00 6.500000% 1,822.70 2,547.68 4,370.38 0.00 0.00
B4 376,272.99 6.500000% 1,458.16 2,038.15 3,496.30 0.00 0.00
B5 376,275.49 6.500000% 1,458.17 2,038.16 3,496.33 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 153,348,592.25 - 1,521,847.57 892,028.19 2,413,875.76 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 46,830,188.05 0.00
2A1 68,150,790.19 0.00
2A2 5,675,699.00 0.00
2A3 25,418,163.32 0.00
PO 129,680.16 0.00
X1 47,078,787.56 0.00
X2 95,133,904.07 0.00
M 3,092,222.09 0.00
B1 749,629.66 0.00
B2 562,221.76 0.00
B3 468,518.31 0.00
B4 374,814.83 0.00
B5 374,817.32 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 151,826,744.69 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/99
------------------------------------------------------------
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 47,544,661.91 6.500000% 12669ASJ4 12.278623 4.425855 804.802316
2A1 68,835,882.61 6.500000% 12669ASZ8 6.651734 3.620201 661.693118
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 25,518,025.46 6.500000% 12669ASL9 3.675785 5.087782 935.607010
PO 130,226.92 0.000000% 12669ASR6 3.536966 0.000000 838.886827
X1 47,793,085.92 0.679025% 12669ASS4 0.000000 0.463666 807.163039
X2 95,898,886.33 0.440698% 12669AST2 0.000000 0.269379 731.127850
M 3,104,251.90 6.500000% 12669ASN5 3.642001 5.090616 936.164096
B1 752,545.98 6.500000% 12669ASP0 3.642001 5.090616 936.164106
B2 564,408.99 6.500000% 12669ASQ8 3.642001 5.090616 936.164069
B3 470,341.00 6.500000% 12669ASU9 3.642001 5.090616 936.164109
B4 376,272.99 6.500000% 12669ASV7 3.642001 5.090616 936.164093
B5 376,275.49 6.500000% 12669ASW5 3.642001 5.090617 936.164240
Residual AR 0.00 6.500000% 12669ASM7 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 153,348,592.25 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 48,531,250.82 103,295,494.00 151,826,744.82
loan count 565 332 897
average loan rate 7.416121% 7.157708% 7.24
prepayment amount 534,471.92 393,503.99 927,975.91
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 10,123.14 21,686.74 31,809.88
sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 369.39 780.72 1,150.11
Aggregate advances N/A N/A N/A
Advances this periods 7,936.74 21,112.68 29,049.42
- --------------------------------------------------------------------------------
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 600,057.19 1,401,808.21 2,001,865.40
Special Hazard 2,791,167.92 2,791,167.92 5,582,335.84
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 153,348,592.25
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 2,569,529.63
60 to 89 days 2 191,976.22
90 or more 3 222,147.07
Foreclosure 0 0.00
Totals: 15 2,983,652.92
- --------------------------------------------------------------------------------
<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 2,413,875.76 2,413,875.76
Principal remittance amount 1,521,847.57 1,521,847.57
Interest remittance amount 892,028.19 892,028.19