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): June 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 June 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 June 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: June 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 June 25, 1999
Payment Date: 06/25/99
------------------------------------------------------------
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 51,827,195.76 6.500000% 734,760.90 280,730.64 1,015,491.54 0.00 0.00
2A1 80,108,718.81 6.500000% 2,003,245.64 433,922.23 2,437,167.87 0.00 0.00
2A2 5,675,699.00 6.500000% 0.00 30,743.37 30,743.37 0.00 0.00
2A3 26,096,492.61 6.500000% 94,779.60 141,356.00 236,135.60 0.00 0.00
PO 141,282.02 0.000000% 633.49 0.00 633.49 0.00 0.00
X1 51,976,405.47 0.680923% 0.00 29,493.29 29,493.29 0.00 0.00
X2 106,974,678.75 0.444282% 0.00 39,435.01 39,435.01 0.00 0.00
M 3,174,025.77 6.500000% 11,430.74 17,192.64 28,623.38 0.00 0.00
B1 769,461.26 6.500000% 2,771.09 4,167.92 6,939.01 0.00 0.00
B2 577,096.07 6.500000% 2,078.32 3,125.94 5,204.26 0.00 0.00
B3 480,913.30 6.500000% 1,731.93 2,604.95 4,336.88 0.00 0.00
B4 384,730.83 6.500000% 1,385.99 2,083.96 3,469.95 0.00 0.00
B5 384,733.34 6.500000% 1,385.55 2,083.97 3,469.52 0.00 0.00
Residual AR 0.00 6.500000% 0.00 9.33 9.33 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 169,620,348.77 - 2,854,203.25 986,949.25 3,841,152.50 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 51,092,434.86 0.00
2A1 78,105,473.15 0.00
2A2 5,675,699.00 0.00
2A3 26,001,713.02 0.00
PO 140,648.53 0.00
X1 51,242,530.38 0.00
X2 104,902,446.53 0.00
M 3,162,584.95 0.00
B1 766,687.32 0.00
B2 575,015.00 0.00
B3 479,179.34 0.00
B4 383,343.65 0.00
B5 383,346.20 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 166,766,125.02 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 06/25/99
------------------------------------------------------------
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 51,827,195.76 6.500000% 12669ASJ4 12.627267 4.824509 878.051351
2A1 80,108,718.81 6.500000% 12669ASZ8 19.450014 4.213060 758.345632
2A2 5,675,699.00 6.500000% 12669ASK1 0.000000 5.416667 1,000.000000
2A3 26,096,492.61 6.500000% 12669ASL9 3.488704 5.203116 957.086657
PO 141,282.02 0.000000% 12669ASR6 4.097978 0.000000 909.840024
X1 51,976,405.47 0.680923% 12669ASS4 0.000000 0.505661 878.550164
X2 106,974,678.75 0.444282% 12669AST2 0.000000 0.303068 806.201543
M 3,174,025.77 6.500000% 12669ASN5 3.460634 5.205038 957.466311
B1 769,461.26 6.500000% 12669ASP0 3.460635 5.205046 957.466313
B2 577,096.07 6.500000% 12669ASQ8 3.460643 5.205051 957.466294
B3 480,913.30 6.500000% 12669ASU9 3.460635 5.205049 957.466321
B4 384,730.83 6.500000% 12669ASV7 3.461747 5.205046 957.466288
B5 384,733.34 6.500000% 12669ASW5 3.460625 5.205037 957.466439
Residual AR 0.00 6.500000% 12669ASM7 0.000000 93.262029 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 169,620,348.77 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-9
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Stated principal balance 52,833,591.30 113,932,533.68 166,766,124.98
Loan count 596 361 957
Average loan rate 7.417665% 7.161538% 7.24
Prepayment amount 551,828.62 1,691,766.93 2,243,595.55
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 10,799.04 23,149.93 33,948.97
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 401.81 870.34 1,272.15
Aggregate advances N/A N/A N/A
Advances this periods 3,071.99 7,499.12 10,571.11
- --------------------------------------------------------------------------------
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 2,853,475.44 2,853,475.44 5,706,950.88
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 169,620,348.77
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 6 911,383.19
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 1 194,807.29
Totals: 7 1,106,190.48
- --------------------------------------------------------------------------------
<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 3,841,152.50 3,841,152.50
Principal remittance amount 2,854,203.25 2,854,203.25
Interest remittance amount 986,949.25 986,949.25
