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): April 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 April 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 April 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: April 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 April 25, 1999
Payment Date: 04/25/99
------------------------------------------------------------
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 53,081,363.25 6.500000% 294,290.22 287,524.05 581,814.27 0.00 0.00
2A1 84,711,052.89 6.500000% 3,024,272.49 458,851.54 3,483,124.03 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,283,618.64 6.500000% 92,728.88 142,369.60 235,098.48 0.00 0.00
PO 148,674.37 0.000000% 6,762.32 0.00 6,762.32 0.00 0.00
X1 53,228,682.94 0.680916% 0.00 30,203.54 30,203.54 0.00 0.00
X2 111,180,040.89 0.445922% 0.00 41,142.86 41,142.86 0.00 0.00
M 3,196,583.70 6.500000% 11,206.95 17,314.83 28,521.78 0.00 0.00
B1 774,929.85 6.500000% 2,716.13 4,197.53 6,913.66 0.00 0.00
B2 581,197.51 6.500000% 2,037.63 3,148.15 5,185.78 0.00 0.00
B3 484,331.17 6.500000% 1,698.02 2,623.46 4,321.48 0.00 0.00
B4 387,465.12 6.500000% 1,358.42 2,098.78 3,457.20 0.00 0.00
B5 387,467.65 6.500000% 1,358.42 2,098.78 3,457.20 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 175,712,383.15 - 3,438,429.48 1,022,316.49 4,460,745.97 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 52,787,073.03 0.00
2A1 81,686,780.42 0.00
2A2 5,675,699.00 0.00
2A3 26,190,889.75 0.00
PO 141,912.05 0.00
X1 52,935,327.54 0.00
X2 108,621,509.08 0.00
M 3,185,379.64 0.00
B1 772,213.72 0.00
B2 579,160.41 0.00
B3 482,633.59 0.00
B4 386,107.05 0.00
B5 386,109.57 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 172,273,958.23 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
------------------------------------------------------------
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 53,081,363.25 6.500000% 12669ASJ4 5.057538 4.941258 907.174632
2A1 84,711,052.89 6.500000% 12669ASZ8 29.363420 4.455105 793.117442
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,283,618.64 6.500000% 12669ASL9 3.413220 5.240426 964.049988
PO 148,674.37 0.000000% 12669ASR6 43.744706 0.000000 918.013447
X1 53,228,682.94 0.680916% 12669ASS4 0.000000 0.517838 907.573062
X2 111,180,040.89 0.445922% 12669AST2 0.000000 0.316193 834.783463
M 3,196,583.70 6.500000% 12669ASN5 3.392882 5.242030 964.367359
B1 774,929.85 6.500000% 12669ASP0 3.391999 5.242024 964.367871
B2 581,197.51 6.500000% 12669ASQ8 3.392889 5.242033 964.368880
B3 484,331.17 6.500000% 12669ASU9 3.392878 5.242034 964.368382
B4 387,465.12 6.500000% 12669ASV7 3.392886 5.242062 964.368358
B5 387,467.65 6.500000% 12669ASW5 3.392864 5.242028 964.368392
Residual AR 0.00 6.500000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 175,712,383.15 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 54,540,553.22 117,733,396.22 172,273,949.44
Aggregated loan count 604 375 979
Aggregated average loan rate 7.417976% 7.162045% 7.24
Aggregated prepayment amount 110,951.55 2,711,602.38 2,822,553.93
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 11,414.55 23,564.61 34,979.16
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 411.31 906.54 1,317.84
Aggregate advances N/A N/A N/A
Advances this periods 3,628.14 4,863.31 8,491.45
- --------------------------------------------------------------------------------
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 2,873,757.64 2,873,757.64 5,747,515.28
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 175,712,383.15
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 5 515,949.83
60 to 89 days 2 143,495.27
90 or more 0 234,500.29
Foreclosure 0 0.00
Totals: 7 893,945.39
- --------------------------------------------------------------------------------
<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 4,460,745.97 4,460,745.97
Principal remittance amount 3,438,429.48 3,438,429.48
Interest remittance amount 1,022,316.49 1,022,316.49
