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): February 25, 1999
CWMBS, Inc
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-H)
(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-H
On February 25, 1999, The Bank of New York, as Trustee for CWMBS, Inc, Mortgage
Pass-Through Certificates Series 1998-H, 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,
Independent National Mortgage Corporation, 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-H relating to the distribution date
of February 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: February 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 February 25, 1999
Payment Date: 02/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
<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 47,483,557.33 6.750000% 1,500,756.00 267,095.01 1,767,851.01 0.00 0.00
A2 199,884,281.14 6.750000% 11,142,512.78 1,124,349.08 12,266,861.86 0.00 0.00
A3 131,465,000.00 6.750000% 0.00 739,490.63 739,490.63 0.00 0.00
A4 30,272,000.00 6.750000% 0.00 170,280.00 170,280.00 0.00 0.00
A5 7,000.00 6.750000% 0.00 39.38 39.38 0.00 0.00
A6 21,438,000.00 6.556250% 0.00 117,127.41 117,127.41 0.00 0.00
A7 5,558,000.00 7.497315% 0.00 34,725.06 34,725.06 0.00 0.00
A8 140,075,000.00 6.750000% 0.00 787,921.88 787,921.88 0.00 0.00
A9 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A10 133,425,122.76 6.750000% 6,813,162.22 750,516.32 7,563,678.53 0.00 0.00
A11 36,713,133.78 6.750000% 386,746.25 206,511.38 593,257.62 0.00 0.00
A12 5,017,927.43 6.750000% 0.00 0.00 0.00 0.00 0.00
A13 45,836,300.00 6.750000% 0.00 257,829.19 257,829.19 0.00 0.00
X1 611,303,052.17 0.866233% 0.00 441,275.86 441,275.86 0.00 0.00
X2 232,052,331.26 0.638842% 0.00 123,537.29 123,537.29 0.00 0.00
PO1 157,545.57 0.000000% 151.81 0.00 151.81 0.00 0.00
PO2 24,312.74 0.000000% 24.00 0.00 24.00 0.00 0.00
Residual AR 100.00 6.750000% 0.00 0.59 0.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,298,736.70 6.750000% 15,278.23 119,805.39 135,083.62 0.00 0.00
BIC 8,588,360.79 6.750000% 6,160.69 48,309.53 54,470.22 0.00 0.00
B1C 4,809,681.08 6.750000% 3,450.13 27,054.46 30,504.59 0.00 0.00
B1D 3,435,344.32 6.750000% 2,464.28 19,323.81 21,788.09 0.00 0.00
BIE 2,061,007.56 6.750000% 1,478.42 11,593.17 13,071.59 0.00 0.00
BIF 2,749,142.97 6.750000% 1,972.04 15,463.93 17,435.97 0.00 0.00
B2A 5,647,845.76 6.750000% 4,180.71 31,769.13 35,949.84 0.00 0.00
B2B 2,896,560.78 6.750000% 2,144.12 16,293.15 18,437.28 0.00 0.00
B2C 1,592,063.64 6.750000% 1,178.49 8,955.36 10,133.85 0.00 0.00
B2D 1,303,502.10 6.750000% 964.89 7,332.20 8,297.09 0.00 0.00
B2E 724,388.96 6.750000% 536.21 4,074.69 4,610.90 0.00 0.00
2BF 869,014.35 6.750000% 643.27 4,888.21 5,531.48 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 853,332,929.76 - 19,883,804.54 5,335,562.09 25,219,366.63 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 45,982,801.32 0.00
A2 188,741,768.37 0.00
A3 131,465,000.00 0.00
A4 30,272,000.00 0.00
A5 7,000.00 0.00
A6 21,438,000.00 0.00
A7 5,558,000.00 0.00
A8 140,075,000.00 0.00
A9 0.00 0.00
A10 126,611,960.54 0.00
A11 36,326,387.53 0.00
A12 5,046,153.28 0.00
A13 45,836,300.00 0.00
X1 598,636,635.04 0.00
X2 224,872,838.79 0.00
PO1 157,393.76 0.00
PO2 24,288.74 0.00
Residual AR 100.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1A 21,283,458.47 0.00
BIC 8,582,200.10 0.00
B1C 4,806,230.95 0.00
B1D 3,432,880.04 0.00
BIE 2,059,529.13 0.00
BIF 2,747,170.92 0.00
B2A 5,643,665.05 0.00
B2B 2,894,416.66 0.00
B2C 1,590,885.15 0.00
B2D 1,302,537.21 0.00
B2E 723,852.74 0.00
2BF 868,371.07 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 833,477,351.06 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
<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 47,483,557.33 6.750000% 12669AVF8 26.847156 4.778086 822.590364
A2 199,884,281.14 6.750000% 12669AVG6 42.468214 4.285308 719.364296
A3 131,465,000.00 6.750000% 12669AVH4 0.000000 5.625000 1,000.000000
A4 30,272,000.00 6.750000% 12669AVJ0 0.000000 5.625000 1,000.000000
A5 7,000.00 6.750000% 12669AVK7 0.000000 5.625000 1,000.000000
A6 21,438,000.00 6.556250% 12669AVL5 0.000000 5.463542 1,000.000000
A7 5,558,000.00 7.497315% 12669AVM3 0.000000 6.247762 1,000.000000
A8 140,075,000.00 6.750000% 12669AVN1 0.000000 5.625000 1,000.000000
A9 0.00 6.750000% 12669AVP6 0.000000 0.000000 0.000000
A10 133,425,122.76 6.750000% 12669AVQ4 47.204793 5.199930 877.227230
A11 36,713,133.78 6.750000% 12669AVR2 7.064116 3.772035 663.519901
A12 5,017,927.43 6.750000% 12669AVV3 0.000000 0.000000 1,045.834876
A13 45,836,300.00 6.750000% 12669AVW1 0.000000 5.625000 1,000.000000
X1 611,303,052.17 0.866233% 12669AVU5 0.000000 0.646760 877.397272
X2 232,052,331.26 0.638842% 12669AVX9 0.000000 0.427423 778.031123
PO1 157,545.57 0.000000% 12669AVS0 0.953830 0.000000 988.936556
PO2 24,312.74 0.000000% 12669AVT8 0.980992 0.000000 992.745406
Residual AR 100.00 6.750000% 12669AVY7 0.000000 5.927190 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,298,736.70 6.750000% 12669AVZ4 0.713869 5.597860 994.461194
BIC 8,588,360.79 6.750000% 12669AWA8 0.713869 5.597860 994.461194
B1C 4,809,681.08 6.750000% 12669AWB6 0.713869 5.597860 994.461194
B1D 3,435,344.32 6.750000% 12669AWK6 0.713869 5.597860 994.461194
BIE 2,061,007.56 6.750000% 12669AWL4 0.713869 5.597860 994.461194
BIF 2,749,142.97 6.750000% 12669AWM2 0.713869 5.597860 994.461194
B2A 5,647,845.76 6.750000% 12669AWC4 0.736559 5.597099 994.303216
B2B 2,896,560.78 6.750000% 12669AWD2 0.736559 5.597099 994.303216
B2C 1,592,063.64 6.750000% 12669AWE0 0.736559 5.597099 994.303216
B2D 1,303,502.10 6.750000% 12669AWN0 0.736559 5.597099 994.303216
B2E 724,388.96 6.750000% 12669AWP5 0.736559 5.597099 994.303216
2BF 869,014.35 6.750000% 12669AWQ3 0.736559 5.597099 994.303216
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 853,332,929.76 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 606,608,533.07 226,868,817.99 833,477,351.06
Aggregated loan count 3897 610 4507
Average loan rate 7.987420% 7.767418% 7.93
prepayment amount 12,229,964.09 7,008,099.61 19,238,063.70
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 24,290.11 4,481.30 28,771.40
sub servicer fees 129,050.97 48,902.99 177,953.95
trustee fees 4,644.62 1,755.38 6,400.00
Aggregate advances N/A N/A N/A
Advances this periods 127,944.51 45,910.53 173,855.04
- --------------------------------------------------------------------------------
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 0.00 0.00 0.00
Fraud 13,807,953.67 5,820,754.27 19,628,707.94
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.444780% 100.000000% 797,357,280.75
-----------------------------------------------------------------------------
Junior 6.555220% 0.000000% 55,935,197.51
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 79 14,992,644.74
60 to 89 days 27 4,849,413.75
90 or more 11 3,398,641.48
Foreclosure 1 93,030.05
Totals: 118 23,333,730.02
- --------------------------------------------------------------------------------
<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 25,219,366.63 25,219,366.63
Principal remittance amount 19,883,804.54 19,883,804.54
Interest remittance amount 5,335,562.09 5,335,562.09
