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): January 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 January 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 January 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: January 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 January 25, 1999
Payment Date: 01/25/99
------------------------------------------------------------
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 54,764,306.96 6.500000% 846,205.73 296,640.00 1,142,845.73 0.00 0.00
2A1 92,070,996.87 6.500000% 1,349,001.25 498,717.90 1,847,719.15 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,555,533.43 6.500000% 90,101.83 143,842.47 233,944.30 0.00 0.00
PO 150,573.15 0.000000% 617.85 0.00 617.85 0.00 0.00
X1 54,908,723.41 0.685521% 0.00 31,373.32 31,373.32 0.00 0.00
X2 118,736,545.24 0.447170% 0.00 44,083.78 44,083.78 0.00 0.00
M 3,229,476.48 6.500000% 10,871.24 17,493.00 28,364.24 0.00 0.00
B1 782,903.69 6.500000% 2,635.37 4,240.73 6,876.10 0.00 0.00
B2 587,177.28 6.500000% 1,976.22 3,180.54 5,156.76 0.00 0.00
B3 489,314.56 6.500000% 1,647.10 2,650.45 4,297.55 0.00 0.00
B4 391,451.85 6.500000% 1,317.48 2,120.36 3,437.84 0.00 0.00
B5 391,454.39 6.500000% 1,317.49 2,120.38 3,437.87 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 185,088,887.66 - 2,305,691.56 1,077,206.30 3,382,897.86 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 53,918,101.23 0.00
2A1 90,721,995.62 0.00
2A2 5,675,699.00 0.00
2A3 26,465,431.60 0.00
PO 149,955.29 0.00
X1 54,063,530.38 0.00
X2 117,321,479.88 0.00
M 3,218,605.24 0.00
B1 780,268.32 0.00
B2 585,201.06 0.00
B3 487,667.46 0.00
B4 390,134.36 0.00
B5 390,136.90 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 182,783,196.08 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/99
------------------------------------------------------------
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 54,764,306.96 6.500000% 12669ASJ4 14.542507 5.097920 926.611969
2A1 92,070,996.87 6.500000% 12669ASZ8 13.097792 4.842177 880.842613
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,555,533.43 6.500000% 12669ASL9 3.316522 5.294640 974.155489
PO 150,573.15 0.000000% 12669ASR6 3.996804 0.000000 970.044316
X1 54,908,723.41 0.685521% 12669ASS4 0.000000 0.537894 926.916033
X2 118,736,545.24 0.447170% 12669AST2 0.000000 0.338795 901.644914
M 3,229,476.48 6.500000% 12669ASN5 3.291246 5.295971 974.426342
B1 782,903.69 6.500000% 12669ASP0 3.291144 5.295974 974.426747
B2 587,177.28 6.500000% 12669ASQ8 3.290634 5.295966 974.427259
B3 489,314.56 6.500000% 12669ASU9 3.291133 5.295964 974.426754
B4 391,451.85 6.500000% 12669ASV7 3.290631 5.295962 974.427247
B5 391,454.39 6.500000% 12669ASW5 3.290635 5.295977 974.427263
Residual AR 0.00 6.500000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 185,088,887.66 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 55,689,748.45 127,093,445.26 182,783,193.71
loan count 615 393 1008
average loan rate 7.422884% 7.165158% 7.24
prepayment amount 665,311.15 1,017,411.64 1,682,722.79
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
servicing fees 11,004.57 25,465.65 36,470.22
sub servicer fees 5.75 11.12 16.87
trustee fees 424.06 964.10 1,388.17
Aggregate advances N/A N/A N/A
Advances this periods 6,701.17 2,464.73 9,165.90
- --------------------------------------------------------------------------------
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 3,244,598.83 3,244,598.83 6,489,197.66
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 185,088,887.66
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 6 900,845.42
60 to 89 days 1 71,848.43
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 7 972,693.85
- --------------------------------------------------------------------------------
<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 3,382,897.86 3,382,897.86
Principal remittance amount 2,305,691.56 2,305,691.56
Interest remittance amount 1,077,206.30 1,077,206.30
