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): April 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 April 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 April 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: April 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 April 25, 1999
Payment Date: 04/25/99
------------------------------------------------------------
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 44,632,776.78 6.750000% 1,674,694.63 251,059.37 1,925,754.00 0.00 0.00
A2 178,718,376.38 6.750000% 12,433,937.45 1,005,290.87 13,439,228.31 0.00 0.00
A3 131,465,000.00 6.750000% 0.00 739,490.62 739,490.62 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 39.37 39.37 0.00 0.00
A6 21,438,000.00 5.900000% 0.00 105,403.50 105,403.50 0.00 0.00
A7 5,558,000.00 10.028565% 0.00 46,448.97 46,448.97 0.00 0.00
A8 140,075,000.00 6.750000% 0.00 787,921.87 787,921.87 0.00 0.00
A9 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A10 120,537,751.60 6.750000% 9,007,150.37 673,132.23 9,680,282.60 0.00 4,892.63
A11 35,978,367.52 6.750000% 502,310.16 200,917.96 703,228.12 0.00 1,460.36
A12 5,074,537.89 6.750000% 0.00 0.00 0.00 0.00 205.98
A13 45,836,300.00 6.750000% 0.00 255,968.69 255,968.69 0.00 1,860.50
X1 587,313,144.36 0.862767% 0.00 422,261.99 422,261.99 0.00 0.00
X2 218,471,081.76 0.637621% 0.00 115,247.18 115,247.18 0.00 837.67
PO1 153,305.73 0.000000% 144.65 0.00 144.65 0.00 0.00
PO2 24,264.60 0.000000% 28.62 0.00 28.62 0.00 0.00
Residual AR 100.00 6.750000% 0.00 0.59 0.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,255,458.45 6.750000% 15,500.58 119,561.95 135,062.54 0.00 0.00
BIC 8,570,909.56 6.750000% 6,250.35 48,211.37 54,461.72 0.00 0.00
B1C 4,799,907.98 6.750000% 3,500.34 26,999.48 30,499.82 0.00 0.00
B1D 3,428,363.82 6.750000% 2,500.14 19,284.55 21,784.69 0.00 0.00
BIE 2,056,819.66 6.750000% 1,499.94 11,569.61 13,069.55 0.00 0.00
BIF 2,743,556.81 6.750000% 2,000.74 15,432.51 17,433.25 0.00 0.00
B2A 5,639,435.11 6.750000% 4,241.27 31,492.92 35,734.19 0.00 228.90
B2B 2,892,247.29 6.750000% 2,175.18 16,151.49 18,326.68 0.00 117.40
B2C 1,589,692.77 6.750000% 1,195.57 8,877.50 10,073.06 0.00 64.53
B2D 1,301,560.96 6.750000% 978.87 7,268.45 8,247.32 0.00 52.83
B2E 723,310.21 6.750000% 543.98 4,039.26 4,583.24 0.00 29.36
2BF 867,720.23 6.750000% 652.59 4,845.71 5,498.30 0.00 35.22
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 815,639,763.34 - 23,659,305.44 5,087,198.02 28,746,503.46 - 9,785.36
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 42,958,082.15 0.00
A2 166,284,438.93 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 111,530,601.23 4,892.63
A11 35,476,057.36 1,460.36
A12 5,102,876.19 205.98
A13 45,836,300.00 1,860.50
X1 573,180,741.82 0.00
X2 208,982,245.84 837.67
PO1 153,161.08 0.00
PO2 24,235.97 0.00
Residual AR 100.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1A 21,239,957.86 0.00
BIC 8,564,659.21 0.00
B1C 4,796,407.64 0.00
B1D 3,425,863.68 0.00
BIE 2,055,319.72 0.00
BIF 2,741,556.07 0.00
B2A 5,635,193.84 228.90
B2B 2,890,072.10 117.40
B2C 1,588,497.21 64.53
B2D 1,300,582.09 52.83
B2E 722,766.23 29.36
2BF 867,067.64 35.22
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 792,008,796.20 9,785.36
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
------------------------------------------------------------
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 44,632,776.78 6.750000% 12669AVF8 29.958759 4.491223 768.480897
A2 178,718,376.38 6.750000% 12669AVG6 47.390309 3.831533 633.771154
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 5.900000% 12669AVL5 0.000000 4.916667 1,000.000000
A7 5,558,000.00 10.028565% 12669AVM3 0.000000 8.357137 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 120,537,751.60 6.750000% 12669AVQ4 62.405775 4.663777 772.736477
A11 35,978,367.52 6.750000% 12669AVR2 9.174950 3.669868 647.988189
A12 5,074,537.89 6.750000% 12669AVV3 0.000000 0.000000 1,057.590920
A13 45,836,300.00 6.750000% 12669AVW1 0.000000 5.584410 1,000.000000
X1 587,313,144.36 0.862767% 12669AVU5 0.000000 0.618892 840.087608
X2 218,471,081.76 0.637621% 12669AVX9 0.000000 0.398740 723.051713
PO1 153,305.73 0.000000% 12669AVS0 0.908849 0.000000 962.341790
PO2 24,264.60 0.000000% 12669AVT8 1.169861 0.000000 990.588825
Residual AR 100.00 6.750000% 12669AVY7 0.000000 5.922848 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,255,458.45 6.750000% 12669AVZ4 0.724259 5.586485 992.428645
BIC 8,570,909.56 6.750000% 12669AWA8 0.724259 5.586485 992.428645
B1C 4,799,907.98 6.750000% 12669AWB6 0.724259 5.586485 992.428645
B1D 3,428,363.82 6.750000% 12669AWK6 0.724259 5.586485 992.428645
BIE 2,056,819.66 6.750000% 12669AWL4 0.724259 5.586485 992.428645
BIF 2,743,556.81 6.750000% 12669AWM2 0.724259 5.586485 992.428645
B2A 5,639,435.11 6.750000% 12669AWC4 0.747229 5.548435 992.810753
B2B 2,892,247.29 6.750000% 12669AWD2 0.747229 5.548435 992.810753
B2C 1,589,692.77 6.750000% 12669AWE0 0.747229 5.548435 992.810753
B2D 1,301,560.96 6.750000% 12669AWN0 0.747229 5.548435 992.810753
B2E 723,310.21 6.750000% 12669AWP5 0.747229 5.548435 992.810753
2BF 867,720.23 6.750000% 12669AWQ3 0.747229 5.548435 992.810753
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 815,639,763.34 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 581,034,546.35 210,974,249.85 792,008,796.20
Aggregated loan count 3788 577 4365
Aggregated average loan rate 7.983700% 7.765512% 7.92
Aggregated prepayment amount 13,705,970.65 9,325,128.50 23,031,099.15
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 11,428.55 0.00 11,428.55
Monthly sub servicer fees 124,028.37 46,003.80 170,032.17
Monthly trustee fees 4,463.81 1,653.49 6,117.30
Aggregate advances N/A N/A N/A
Advances this periods 119,953.00 37,934.74 157,887.74
- --------------------------------------------------------------------------------
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 93.154974% 100.000000% 759,770,780.49
-----------------------------------------------------------------------------
Junior 6.845026% 0.000000% 55,827,943.28
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 73 13,072,423.39
60 to 89 days 22 5,157,933.35
90 or more 5 578,395.48
Foreclosure 8 2,231,781.00
Totals: 108 21,040,533.22
- --------------------------------------------------------------------------------
<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 28,746,503.46 28,746,503.46
Principal remittance amount 23,659,305.44 23,659,305.44
Interest remittance amount 5,087,198.02 5,087,198.02
