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, 1998
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, 1998, 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, 1998 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, 1998
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, 1998
Payment Date: 12/25/98
------------------------------------------------------------
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 55,408,969.87 6.500000% 644,662.90 300,131.92 944,794.82 0.00 0.00
2A1 94,147,143.93 6.500000% 2,076,147.06 509,963.70 2,586,110.76 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,645,156.52 6.500000% 89,623.10 144,327.93 233,951.03 0.00 0.00
PO 151,163.50 0.000000% 590.36 0.00 590.36 0.00 0.00
X1 55,552,410.84 0.688655% 0.00 31,880.36 31,880.36 0.00 0.00
X2 120,880,151.67 0.447973% 0.00 44,951.83 44,951.83 0.00 0.00
M 3,240,304.30 6.500000% 10,827.82 17,551.65 28,379.47 0.00 0.00
B1 785,528.38 6.500000% 2,624.68 4,254.95 6,879.63 0.00 0.00
B2 589,145.79 6.500000% 1,968.51 3,191.21 5,159.72 0.00 0.00
B3 490,954.99 6.500000% 1,640.43 2,659.34 4,299.77 0.00 0.00
B4 392,764.19 6.500000% 1,312.34 2,127.47 3,439.81 0.00 0.00
B5 392,766.74 6.500000% 1,312.35 2,127.49 3,439.84 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 187,919,597.21 - 2,830,709.55 1,093,911.21 3,924,620.75 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 54,764,306.96 0.00
2A1 92,070,996.87 0.00
2A2 5,675,699.00 0.00
2A3 26,555,533.43 0.00
PO 150,573.15 0.00
X1 54,908,723.41 0.00
X2 118,736,545.24 0.00
M 3,229,476.48 0.00
B1 782,903.69 0.00
B2 587,177.28 0.00
B3 489,314.56 0.00
B4 391,451.85 0.00
B5 391,454.39 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 185,088,887.66 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/98
------------------------------------------------------------
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 55,408,969.87 6.500000% 12669ASJ4 11.078883 5.157931 941.154476
2A1 94,147,143.93 6.500000% 12669ASZ8 20.157833 4.951365 893.940405
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,645,156.52 6.500000% 12669ASL9 3.298901 5.312509 977.472011
PO 151,163.50 0.000000% 12669ASR6 3.818948 0.000000 974.041153
X1 55,552,410.84 0.688655% 12669ASS4 0.000000 0.546587 941.406817
X2 120,880,151.67 0.447973% 12669AST2 0.000000 0.345466 912.520045
M 3,240,304.30 6.500000% 12669ASN5 3.278101 5.313727 977.717589
B1 785,528.38 6.500000% 12669ASP0 3.277798 5.313727 977.717891
B2 589,145.79 6.500000% 12669ASQ8 3.277798 5.313727 977.717893
B3 490,954.99 6.500000% 12669ASU9 3.277798 5.313727 977.717893
B4 392,764.19 6.500000% 12669ASV7 3.277798 5.313727 977.717893
B5 392,766.74 6.500000% 12669ASW5 3.277798 5.313735 977.717893
Residual AR 0.00 6.500000% 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 187,919,597.21 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 56,541,854.06 128,547,031.57 185,088,885.63
loan count 620 397 1017
average loan rate 7.426028% 7.166536% 7.25
prepayment amount 462,367.71 1,740,421.69 2,202,789.40
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 11,659.52 27,234.83 38,894.35
sub servicer fees 0.00 0.00 0.00
trustee fees 428.94 980.45 1,409.40
Aggregate advances N/A N/A N/A
Advances this periods 1,054.04 0.00 1,054.04
- --------------------------------------------------------------------------------
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 3,255,580.43 3,255,580.43 6,511,160.86
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 187,919,597.21
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 71,848.43
60 to 89 days 1 37,568.31
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 2 109,416.74
- --------------------------------------------------------------------------------
<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 3,924,620.75 3,924,620.75
Principal remittance amount 2,830,709.55 2,830,709.55
Interest remittance amount 1,093,911.21 1,093,911.21
