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): October 25, 1998
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
RESIDENTIAL ASSET SECURITIZATION TRUST 1998-A8
On October 25, 1998, The Bank of New York, as Trustee for CWMBS, Inc, MORTGAGE
PASS-THROUGH CERTIFICATES, SERIES 1998-H RESIDENTIAL ASSET SECURITIZATION TRUST
1998-A8, 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 CORP., 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 RESIDENTIAL ASSET SECURITIZATION
TRUST 1998-A8 relating to the distribution date of October
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: October 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 October 25, 1998
Payment Date: 10/25/98
------------------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-H, RESIDENTIAL ASSET
------------------------------------------------------------
<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 53,132,951.58 6.750000% 1,066,683.35 298,872.85 1,365,556.20 0.00 0.00
A2 241,828,772.78 6.750000% 7,919,696.99 1,360,286.85 9,279,983.84 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 6.618750% 0.00 118,243.97 118,243.97 0.00 0.00
A7 5,558,000.00 7.256243% 0.00 33,608.50 33,608.50 0.00 0.00
A8 140,075,000.00 6.750000% 0.00 787,921.88 787,921.88 0.00 0.00
A9 16,134,498.92 6.750000% 6,257,925.86 90,473.95 6,348,399.81 0.00 282.61
A10 144,332,000.00 6.750000% 0.00 809,339.43 809,339.43 0.00 2,528.07
A11 47,287,042.65 6.750000% 3,863,032.53 265,161.35 4,128,193.89 0.00 828.26
A12 4,906,880.73 6.750000% 0.00 0.00 0.00 0.00 85.95
A13 45,836,300.00 6.750000% 0.00 257,026.34 257,026.34 0.00 802.85
X1 658,909,538.96 0.870785% 0.00 478,140.32 478,140.32 0.00 0.00
X2 269,586,925.90 0.645458% 0.00 144,554.27 144,554.27 0.00 451.53
PO1 158,729.97 0.000000% 642.57 0.00 642.57 0.00 0.00
PO2 24,404.54 0.000000% 20.63 0.00 20.63 0.00 0.00
Residual AR 100.00 6.750000% 0.00 0.59 0.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,358,594.99 6.750000% 14,827.11 120,142.10 134,969.20 0.00 0.00
BIC 8,612,497.65 6.750000% 5,978.78 48,445.30 54,424.08 0.00 0.00
B1C 4,823,198.28 6.750000% 3,348.26 27,130.49 30,478.75 0.00 0.00
B1D 3,444,999.06 6.750000% 2,391.51 19,378.12 21,769.63 0.00 0.00
BIE 2,066,799.84 6.750000% 1,434.77 11,625.75 13,060.52 0.00 0.00
BIF 2,756,869.20 6.750000% 1,913.81 15,507.39 17,421.20 0.00 0.00
B2A 5,664,079.32 6.750000% 4,022.04 31,761.24 35,783.27 0.00 99.21
B2B 2,904,886.34 6.750000% 2,062.75 16,289.10 18,351.85 0.00 50.88
B2C 1,596,639.69 6.750000% 1,133.77 8,953.13 10,086.90 0.00 27.97
B2D 1,307,248.75 6.750000% 928.27 7,330.38 8,258.65 0.00 22.90
B2E 726,471.06 6.750000% 515.86 4,073.68 4,589.54 0.00 12.72
2BF 871,512.15 6.750000% 618.86 4,886.99 5,505.85 0.00 15.27
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 938,590,477.51 - 19,147,177.72 5,868,963.96 25,016,141.68 - 5,208.21
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 52,066,268.24 0.00
A2 233,909,075.79 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 9,876,573.06 282.61
A10 144,332,000.00 2,528.07
A11 43,424,010.12 828.26
A12 4,934,395.99 85.95
A13 45,836,300.00 802.85
X1 649,912,959.59 0.00
X2 259,485,857.19 451.53
PO1 158,087.40 0.00
PO2 24,383.91 0.00
Residual AR 100.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1A 21,343,767.88 0.00
BIC 8,606,518.87 0.00
B1C 4,819,850.02 0.00
B1D 3,442,607.55 0.00
BIE 2,065,365.07 0.00
BIF 2,754,955.39 0.00
B2A 5,660,057.28 99.21
B2B 2,902,823.60 50.88
B2C 1,595,505.93 27.97
B2D 1,306,320.48 22.90
B2E 725,955.20 12.72
2BF 870,893.29 15.27
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 919,470,815.05 5,208.21
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 10/25/98
------------------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-H, RESIDENTIAL ASSET
------------------------------------------------------------
<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 53,132,951.58 6.750000% 12669AVF8 19.081992 5.346563 931.418036
A2 241,828,772.78 6.750000% 12669AVG6 30.184878 5.184553 891.513516
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 6.618750% 12669AVL5 0.000000 5.515625 1,000.000000
A7 5,558,000.00 7.256243% 12669AVM3 0.000000 6.046870 1,000.000000
A8 140,075,000.00 6.750000% 12669AVN1 0.000000 5.625000 1,000.000000
A9 16,134,498.92 6.750000% 12669AVP6 222.117053 3.211257 350.556295
A10 144,332,000.00 6.750000% 12669AVQ4 0.000000 5.607484 1,000.000000
A11 47,287,042.65 6.750000% 12669AVR2 70.560249 4.843307 793.161579
A12 4,906,880.73 6.750000% 12669AVV3 0.000000 0.000000 1,022.672744
A13 45,836,300.00 6.750000% 12669AVW1 0.000000 5.607484 1,000.000000
X1 658,909,538.96 0.870785% 12669AVU5 0.000000 0.700791 952.550887
X2 269,586,925.90 0.645458% 12669AVX9 0.000000 0.500139 897.787718
PO1 158,729.97 0.000000% 12669AVS0 4.037407 0.000000 993.294840
PO2 24,404.54 0.000000% 12669AVT8 0.843071 0.000000 996.635353
Residual AR 100.00 6.750000% 12669AVY7 0.000000 5.927604 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,358,594.99 6.750000% 12669AVZ4 0.692791 5.613592 997.279127
BIC 8,612,497.65 6.750000% 12669AWA8 0.692791 5.613592 997.279127
B1C 4,823,198.28 6.750000% 12669AWB6 0.692791 5.613592 997.279127
B1D 3,444,999.06 6.750000% 12669AWK6 0.692791 5.613592 997.279127
BIE 2,066,799.84 6.750000% 12669AWL4 0.692791 5.613592 997.279127
BIF 2,756,869.20 6.750000% 12669AWM2 0.692791 5.613592 997.279127
B2A 5,664,079.32 6.750000% 12669AVWC 0.708604 5.595708 997.191205
B2B 2,904,886.34 6.750000% 12669AWD2 0.708604 5.595708 997.191205
B2C 1,596,639.69 6.750000% 12669AWE0 0.708604 5.595708 997.191205
B2D 1,307,248.75 6.750000% 12669AWN0 0.708604 5.595708 997.191205
B2E 726,471.06 6.750000% 12669AWP5 0.708604 5.595708 997.191205
2BF 871,512.15 6.750000% 12669AWQ3 0.708604 5.595708 997.191205
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 938,590,477.51 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
INDEPENDENT NATIONAL MORTGAGE CORP.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-H, RESIDENTIAL ASSET
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
stated prin bal 657,981,596.20 261,489,218.85 919,470,815.05
loan count 4098 696 4794
avg loan rate 7.992679% 7.774718% 7.93
prepay amount 8,553,861.18 9,909,885.18 18,463,746.36
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
servicing fees 37,144.30 0.00 37,144.30
sub servicer fees 138,991.89 56,724.77 195,716.67
trustee fees 5,002.49 2,036.94 7,039.43
Aggregate advances N/A N/A N/A
Advances this periods 190,334.03 0.00 190,334.03
- --------------------------------------------------------------------------------
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 94.023276% 100.000000% 882,456,681.17
-----------------------------------------------------------------------------
Junior 5.976724% 0.000000% 56,094,620.54
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 118 25,155,296.99
60 to 89 days 24 4,055,680.15
90 or more 11 3,104,928.06
Foreclosure 0 0.00
Totals: 153 32,315,905.20
- --------------------------------------------------------------------------------
<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 25,016,141.68 25,016,141.68
Principal remittance amount 19,147,177.72 19,147,177.72
Interest remittance amount 5,868,963.96 5,868,963.96
