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, 1999
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, 1999, 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, 1999 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, 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 December 25, 1999
Payment Date: 12/25/99
------------------------------------------------------------
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 90,812,890.20 6.750000% 2,071,773.51 510,822.51 2,582,596.02 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 6.440000% 0.00 108,973.32 108,973.32 0.00 0.00
A4 35,032,261.00 6.750000% 0.00 197,056.47 197,056.47 0.00 0.00
A5 25,908,453.36 6.750000% 1,079,967.02 145,735.05 1,225,702.07 0.00 0.00
A6 21,430,180.00 6.750000% 0.00 120,544.76 120,544.76 0.00 0.00
A7 21,118,676.77 6.750000% 366,627.26 118,792.56 485,419.82 0.00 0.00
A8 5,264,412.00 7.945714% 0.00 34,857.93 34,857.93 0.00 0.00
PO 225,349.42 0.000000% 10,037.12 0.00 10,037.12 0.00 0.00
X 247,057,607.09 0.511202% 0.00 105,247.05 105,247.05 0.00 0.00
M 8,119,938.71 6.750000% 7,199.68 45,674.66 52,874.34 0.00 0.00
B1 3,628,105.98 6.750000% 3,216.92 20,408.10 23,625.02 0.00 0.00
B2 1,554,846.22 6.750000% 1,378.63 8,746.01 10,124.64 0.00 0.00
B3 1,382,140.32 6.750000% 1,225.50 7,774.54 9,000.04 0.00 0.00
B4 691,020.87 6.750000% 612.71 3,886.99 4,499.70 0.00 0.00
B5 1,036,751.34 6.750000% 919.25 5,831.73 6,750.98 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.05 0.05 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 264,839,614.20 - 3,542,957.62 1,593,702.34 5,136,659.96 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 88,741,116.69 0.00
A2 28,329,000.00 0.00
A3 20,305,588.00 0.00
A4 35,032,261.00 0.00
A5 24,828,486.33 0.00
A6 21,430,180.00 0.00
A7 20,752,049.51 0.00
A8 5,264,412.00 0.00
PO 215,312.30 0.00
X 244,026,635.76 0.00
M 8,112,739.03 0.00
B1 3,624,889.06 0.00
B2 1,553,467.58 0.00
B3 1,380,914.83 0.00
B4 690,408.17 0.00
B5 1,035,832.09 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 261,296,656.58 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/99
------------------------------------------------------------
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 90,812,890.20 6.750000% 126671BK1 14.693393 3.622846 629.368069
A2 28,329,000.00 6.750000% 126671BL9 0.000000 5.625000 1,000.000000
A3 20,305,588.00 6.440000% 126671BM7 0.000000 5.366667 1,000.000000
A4 35,032,261.00 6.750000% 126671BN5 0.000000 5.625000 1,000.000000
A5 25,908,453.36 6.750000% 126671BP0 20.740676 2.798829 476.829006
A6 21,430,180.00 6.750000% 126671BQ8 0.000000 5.625000 1,000.000000
A7 21,118,676.77 6.750000% 126671BR6 12.220949 3.959765 691.737289
A8 5,264,412.00 7.945714% 126671BS4 0.000000 6.621428 1,000.000000
PO 225,349.42 0.000000% 126671BT2 40.068677 0.000000 859.537003
X 247,057,607.09 0.511202% 126671BY1 0.000000 0.317327 735.757027
M 8,119,938.71 6.750000% 126671BV7 0.874544 5.548091 985.452660
B1 3,628,105.98 6.750000% 126671BW5 0.874544 5.548091 985.452659
B2 1,554,846.22 6.750000% 126671BX3 0.874544 5.548091 985.452667
B3 1,382,140.32 6.750000% 126671BZ6 0.874544 5.548091 985.452670
B4 691,020.87 6.750000% 126671CA2 0.874544 5.548091 985.452705
B5 1,036,751.34 6.750000% 126671CB0 0.874544 5.548086 985.451817
Residual AR 0.00 6.750000% 126671BU9 0.000000 0.530335 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 264,839,614.20 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Coutnrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-13
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 261,296,656.44 261,296,656.44
Aggregated loan count 854 854
Aggregated average loan rate 7.503219% 7.50
Aggregated prepayment amount 3,308,091.04 3,308,091.04
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 53,549.70 53,549.70
Monthly sub servicer fees 5,094.54 5,094.54
Monthly trustee fees 1,986.30 1,986.30
Aggregate advances N/A N/A
Advances this periods 31,739.54 31,739.54
- --------------------------------------------------------------------------------
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 0.00 0.00
Special Hazard 2,956,235.66 2,956,235.66
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 264,839,614.20
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 12 3,599,074.94
60 to 89 days 2 487,254.85
90 or more 0 0.00
Foreclosure 2 312,844.42
Totals: 16 4,399,174.21
- --------------------------------------------------------------------------------
<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 5,136,659.96 5,136,659.96
Principal remittance amount 3,542,957.62 3,542,957.62
Interest remittance amount 1,593,702.34 1,593,702.34
