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 1998-13)
(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 1998-13
On December 25, 1998, The Bank of New York, as Trustee for CWMBS INC, Mortgage
Pass-Through Certificates Series 1998-13, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of June 1, 1998, among CWMBS INC as Depositor,
Coutnrywide 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 1998-13 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 June 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
------------------------------------------------------------
Coutnrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-13
------------------------------------------------------------
<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 A1 127,412,524.31 6.750000% 3,247,954.38 716,695.45 3,964,649.83 0.00 0.00
A2 28,329,000.00 6.750000% 0.00 159,350.63 159,350.63 0.00 0.00
A3 20,305,588.00 5.892340% 0.00 99,706.19 99,706.19 0.00 0.00
A4 35,032,261.00 6.750000% 0.00 197,056.47 197,056.47 0.00 0.00
A5 44,986,985.83 6.750000% 1,693,082.48 253,051.80 1,946,134.28 0.00 0.00
A6 21,430,180.00 6.750000% 0.00 120,544.76 120,544.76 0.00 0.00
A7 27,595,459.33 6.750000% 574,767.05 155,224.46 729,991.51 0.00 0.00
A8 5,264,412.00 10.058117% 0.00 44,125.06 44,125.06 0.00 0.00
PO 249,189.20 0.000000% 276.47 0.00 276.47 0.00 0.00
X 308,621,515.94 0.533929% 0.00 137,318.41 137,318.41 0.00 0.00
M 8,201,072.83 6.750000% 6,444.35 46,131.03 52,575.38 0.00 0.00
B1 3,664,357.76 6.750000% 2,878.77 20,612.01 23,490.78 0.00 0.00
B2 1,570,381.83 6.750000% 1,233.57 8,833.40 10,066.97 0.00 0.00
B3 1,395,949.42 6.750000% 1,097.44 7,852.22 8,949.66 0.00 0.00
B4 697,924.91 6.750000% 548.68 3,925.83 4,474.51 0.00 0.00
B5 1,047,110.61 6.750000% 823.20 5,890.00 6,713.20 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.11 0.11 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 327,182,397.02 - 5,529,106.39 1,976,317.81 7,505,424.21 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 124,164,569.93 0.00
A2 28,329,000.00 0.00
A3 20,305,588.00 0.00
A4 35,032,261.00 0.00
A5 43,293,903.35 0.00
A6 21,430,180.00 0.00
A7 27,020,692.28 0.00
A8 5,264,412.00 0.00
PO 248,912.73 0.00
X 303,112,010.59 0.00
M 8,194,628.48 0.00
B1 3,661,478.99 0.00
B2 1,569,148.26 0.00
B3 1,394,851.98 0.00
B4 697,376.23 0.00
B5 1,046,287.41 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 321,653,290.64 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/98
------------------------------------------------------------
Coutnrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-13
------------------------------------------------------------
<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 A1 127,412,524.31 6.750000% 126671BK1 23.035081 5.082934 880.597613
A2 28,329,000.00 6.750000% 126671BL9 0.000000 5.625000 1,000.000000
A3 20,305,588.00 5.892340% 126671BM7 0.000000 4.910283 1,000.000000
A4 35,032,261.00 6.750000% 126671BN5 0.000000 5.625000 1,000.000000
A5 44,986,985.83 6.750000% 126671BP0 32.515508 4.859839 831.455797
A6 21,430,180.00 6.750000% 126671BQ8 0.000000 5.625000 1,000.000000
A7 27,595,459.33 6.750000% 126671BR6 19.158966 5.174166 900.692745
A8 5,264,412.00 10.058117% 126671BS4 0.000000 8.381764 1,000.000000
PO 249,189.20 0.000000% 126671BT2 1.103680 0.000000 993.671523
X 308,621,515.94 0.533929% 126671BY1 0.000000 0.414024 913.903481
M 8,201,072.83 6.750000% 126671BV7 0.782794 5.603527 995.399755
B1 3,664,357.76 6.750000% 126671BW5 0.782615 5.603527 995.399899
B2 1,570,381.83 6.750000% 126671BX3 0.782523 5.603526 995.399810
B3 1,395,949.42 6.750000% 126671BZ6 0.783158 5.603522 995.398544
B4 697,924.91 6.750000% 126671CA2 0.783157 5.603522 995.398552
B5 1,047,110.61 6.750000% 126671CB0 0.783162 5.603523 995.398625
Residual AR 0.00 6.750000% 126671BU9 0.000000 1.107731 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 327,182,397.02 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Coutnrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-13
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 321,653,291.51 321,653,291.51
Aggregated loan count 1020 1020
Aggregated average loan rate 7.531978% 7.53
Aggregated prepayment amount 5,271,843.68 5,271,843.68
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 60,398.67 60,398.67
Monthly sub servicer fees 6,674.41 6,674.41
Monthly trustee fees 2,453.87 2,453.87
Aggregate advances N/A N/A
Advances this periods 21,426.59 21,426.59
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 108,939.00 108,939.00
Fraud 7,006,452.00 7,006,452.00
Special Hazard 3,551,267.58 3,551,267.58
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 327,182,397.02
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 2,490,924.39
60 to 89 days 2 540,833.68
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 12 3,031,758.07
- --------------------------------------------------------------------------------
<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 7,505,424.21 7,505,424.21
Principal remittance amount 5,529,106.39 5,529,106.39
Interest remittance amount 1,976,317.81 1,976,317.81
