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): January 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 January 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 January 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: January 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 January 25, 1999
Payment Date: 01/25/99
------------------------------------------------------------
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 48,657,583.03 6.750000% 1,174,025.70 273,698.90 1,447,724.61 0.00 0.00
A2 208,600,952.19 6.750000% 8,716,671.04 1,173,380.36 9,890,051.40 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 139,759,066.24 6.750000% 6,333,943.48 786,144.75 7,120,088.23 0.00 0.00
A11 37,074,504.82 6.750000% 361,371.04 208,544.09 569,915.13 0.00 0.00
A12 4,989,859.48 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 621,151,222.81 0.867410% 0.00 448,993.93 448,993.93 0.00 0.00
X2 238,727,300.97 0.637597% 0.00 126,843.19 126,843.19 0.00 0.00
PO1 157,782.81 0.000000% 237.24 0.00 237.24 0.00 0.00
PO2 24,336.60 0.000000% 23.86 0.00 23.86 0.00 0.00
Residual AR 100.00 6.750000% 0.00 0.59 0.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,313,936.97 6.750000% 15,200.27 119,890.90 135,091.16 0.00 0.00
BIC 8,594,490.05 6.750000% 6,129.25 48,344.01 54,473.26 0.00 0.00
B1C 4,813,113.60 6.750000% 3,432.52 27,073.76 30,506.29 0.00 0.00
B1D 3,437,796.02 6.750000% 2,451.70 19,337.60 21,789.30 0.00 0.00
BIE 2,062,478.43 6.750000% 1,470.88 11,601.44 13,072.32 0.00 0.00
BIF 2,751,104.95 6.750000% 1,961.98 15,474.97 17,436.95 0.00 0.00
B2A 5,651,984.25 6.750000% 4,138.49 31,792.41 35,930.90 0.00 0.00
B2B 2,898,683.25 6.750000% 2,122.47 16,305.09 18,427.56 0.00 0.00
B2C 1,593,230.23 6.750000% 1,166.59 8,961.92 10,128.51 0.00 0.00
B2D 1,304,457.25 6.750000% 955.15 7,337.57 8,292.72 0.00 0.00
B2E 724,919.76 6.750000% 530.80 4,077.67 4,608.47 0.00 0.00
2BF 869,651.12 6.750000% 636.77 4,891.79 5,528.56 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 869,931,331.05 - 16,626,469.25 5,440,108.48 22,066,577.73 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 47,483,557.33 0.00
A2 199,884,281.14 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 133,425,122.76 0.00
A11 36,713,133.78 0.00
A12 5,017,927.43 0.00
A13 45,836,300.00 0.00
X1 611,303,052.17 0.00
X2 232,052,331.26 0.00
PO1 157,545.57 0.00
PO2 24,312.74 0.00
Residual AR 100.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1A 21,298,736.70 0.00
BIC 8,588,360.79 0.00
B1C 4,809,681.08 0.00
B1D 3,435,344.32 0.00
BIE 2,061,007.56 0.00
BIF 2,749,142.97 0.00
B2A 5,647,845.76 0.00
B2B 2,896,560.78 0.00
B2C 1,592,063.64 0.00
B2D 1,303,502.10 0.00
B2E 724,388.96 0.00
2BF 869,014.35 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 853,332,929.76 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/99
------------------------------------------------------------
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 48,657,583.03 6.750000% 12669AVF8 21.002249 4.896224 849.437519
A2 208,600,952.19 6.750000% 12669AVG6 33.222439 4.472184 761.832510
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 139,759,066.24 6.750000% 12669AVQ4 43.884540 5.446781 924.432023
A11 37,074,504.82 6.750000% 12669AVR2 6.600625 3.809164 670.584017
A12 4,989,859.48 6.750000% 12669AVV3 0.000000 0.000000 1,039.984961
A13 45,836,300.00 6.750000% 12669AVW1 0.000000 5.625000 1,000.000000
X1 621,151,222.81 0.867410% 12669AVU5 0.000000 0.658072 895.961922
X2 238,727,300.97 0.637597% 12669AVX9 0.000000 0.438861 802.871244
PO1 157,782.81 0.000000% 12669AVS0 1.490613 0.000000 989.890386
PO2 24,336.60 0.000000% 12669AVT8 0.975306 0.000000 993.726397
Residual AR 100.00 6.750000% 12669AVY7 0.000000 5.927190 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,313,936.97 6.750000% 12669AVZ4 0.710226 5.601855 995.175063
BIC 8,594,490.05 6.750000% 12669AWA8 0.710226 5.601855 995.175063
B1C 4,813,113.60 6.750000% 12669AWB6 0.710226 5.601855 995.175063
B1D 3,437,796.02 6.750000% 12669AWK6 0.710226 5.601855 995.175063
BIE 2,062,478.43 6.750000% 12669AWL4 0.710226 5.601855 995.175063
BIF 2,751,104.95 6.750000% 12669AWM2 0.710226 5.601855 995.175063
B2A 5,651,984.25 6.750000% 12669AVWC 0.729121 5.601200 995.039774
B2B 2,898,683.25 6.750000% 12669AWD2 0.729121 5.601200 995.039774
B2C 1,593,230.23 6.750000% 12669AWE0 0.729121 5.601200 995.039774
B2D 1,304,457.25 6.750000% 12669AWN0 0.729121 5.601200 995.039774
B2E 724,919.76 6.750000% 12669AWP5 0.729121 5.601200 995.039774
2BF 869,651.12 6.750000% 12669AWQ3 0.729121 5.601200 995.039774
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 869,931,331.05 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Agg stated principal balance 619,282,757.45 234,050,172.31 853,332,929.76
Agg loan count 3947 624 4571
Agg average loan rate 7.988680% 7.766329% 7.93
Agg prepayment amount 9,472,827.08 6,500,552.12 15,973,379.20
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 36,138.17 6,981.90 43,120.07
servicer fees 131,118.00 50,294.14 181,412.14
trustee fees 4,719.03 1,805.45 6,524.48
Aggregate advances N/A N/A N/A
Advances this periods 164,539.04 0.00 164,539.04
- --------------------------------------------------------------------------------
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 93.565212% 100.000000% 813,915,485.16
-----------------------------------------------------------------------------
Junior 6.434788% 0.000000% 55,975,649.01
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 108 22,923,506.58
60 to 89 days 21 5,821,019.35
90 or more 11 2,407,059.05
Foreclosure 1 93,162.21
Totals: 141 31,244,747.19
- --------------------------------------------------------------------------------
<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 22,066,577.73 22,066,577.73
Principal remittance amount 16,626,469.25 16,626,469.25
Interest remittance amount 5,440,108.48 5,440,108.48
