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): November 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 November 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 November 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
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 34,819,240.21 6.750000% 646,435.69 195,858.23 842,293.92 0.00 0.00
A2 117,401,482.53 6.750000% 3,119,711.59 660,383.34 3,780,094.93 0.00 0.00
A3 119,920,311.88 6.750000% 1,679,814.74 674,551.75 2,354,366.50 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 6.306250% 0.00 112,661.16 112,661.16 0.00 0.00
A7 5,558,000.00 8.461601% 0.00 39,191.31 39,191.31 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 83,969,320.90 6.750000% 1,530,113.08 472,327.43 2,002,440.51 0.00 0.00
A11 33,851,256.30 6.750000% 110,202.32 190,413.32 300,615.64 0.00 0.00
A12 5,277,354.90 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 504,749,811.08 0.850162% 0.00 357,599.23 357,599.23 0.00 0.00
X2 179,920,683.16 0.620303% 0.00 93,004.51 93,004.51 0.00 0.00
PO1 151,809.53 0.000000% 153.49 0.00 153.49 0.00 0.00
PO2 24,083.88 0.000000% 28.69 0.00 28.69 0.00 0.00
Residual AR 100.00 6.750000% 0.00 0.59 0.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,144,155.92 6.750000% 16,682.00 118,935.88 135,617.88 0.00 0.00
BIC 8,526,028.67 6.750000% 6,726.74 47,958.91 54,685.65 0.00 0.00
B1C 4,774,773.65 6.750000% 3,767.13 26,858.10 30,625.23 0.00 0.00
B1D 3,410,411.47 6.750000% 2,690.70 19,183.56 21,874.26 0.00 0.00
BIE 2,046,049.29 6.750000% 1,614.26 11,509.03 13,123.29 0.00 0.00
BIF 2,729,190.39 6.750000% 2,153.24 15,351.70 17,504.93 0.00 0.00
B2A 5,608,536.65 6.750000% 4,663.31 31,548.02 36,211.33 0.00 0.00
B2B 2,876,400.67 6.750000% 2,391.63 16,179.75 18,571.38 0.00 0.00
B2C 1,580,982.85 6.750000% 1,314.53 8,893.03 10,207.56 0.00 0.00
B2D 1,294,429.70 6.750000% 1,076.27 7,281.17 8,357.44 0.00 0.00
B2E 719,347.19 6.750000% 598.11 4,046.33 4,644.44 0.00 0.00
2BF 862,965.99 6.750000% 717.53 4,854.18 5,571.71 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 694,174,532.58 - 7,130,855.07 4,324,660.97 11,455,516.04 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 34,172,804.52 0.00
A2 114,281,770.94 0.00
A3 118,240,497.14 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 82,439,207.82 0.00
A11 33,741,053.98 0.00
A12 5,307,040.02 0.00
A13 45,836,300.00 0.00
X1 499,277,809.11 0.00
X2 178,301,396.63 0.00
PO1 151,656.04 0.00
PO2 24,055.19 0.00
Residual AR 100.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1A 21,127,473.92 0.00
BIC 8,519,301.93 0.00
B1C 4,771,006.52 0.00
B1D 3,407,720.77 0.00
BIE 2,044,435.03 0.00
BIF 2,727,037.16 0.00
B2A 5,603,873.34 0.00
B2B 2,874,009.03 0.00
B2C 1,579,668.31 0.00
B2D 1,293,353.43 0.00
B2E 718,749.08 0.00
2BF 862,248.46 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 687,073,362.63 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
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 34,819,240.21 6.750000% 12669AVF8 11.564145 3.503725 611.320295
A2 117,401,482.53 6.750000% 12669AVG6 11.890368 2.516964 435.569860
A3 119,920,311.88 6.750000% 12669AVH4 12.777658 5.131037 899.406664
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 6.306250% 12669AVL5 0.000000 5.255208 1,000.000000
A7 5,558,000.00 8.461601% 12669AVM3 0.000000 7.051334 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 83,969,320.90 6.750000% 12669AVQ4 10.601343 3.272507 571.177617
A11 33,851,256.30 6.750000% 12669AVR2 2.012901 3.477996 616.297472
A12 5,277,354.90 6.750000% 12669AVV3 0.000000 0.000000 1,099.904668
A13 45,836,300.00 6.750000% 12669AVW1 0.000000 5.625000 1,000.000000
X1 504,749,811.08 0.850162% 12669AVU5 0.000000 0.524119 731.771098
X2 179,920,683.16 0.620303% 12669AVX9 0.000000 0.321784 616.899919
PO1 151,809.53 0.000000% 12669AVS0 0.964401 0.000000 952.888670
PO2 24,083.88 0.000000% 12669AVT8 1.172690 0.000000 983.209076
Residual AR 100.00 6.750000% 12669AVY7 0.000000 5.925536 1,000.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1A 21,144,155.92 6.750000% 12669AVZ4 0.779460 5.557232 987.172877
BIC 8,526,028.67 6.750000% 12669AWA8 0.779460 5.557232 987.172877
B1C 4,774,773.65 6.750000% 12669AWB6 0.779460 5.557232 987.172877
B1D 3,410,411.47 6.750000% 12669AWK6 0.779460 5.557232 987.172877
BIE 2,046,049.29 6.750000% 12669AWL4 0.779460 5.557232 987.172877
BIF 2,729,190.39 6.750000% 12669AWM2 0.779460 5.557231 987.172777
B2A 5,608,536.65 6.750000% 12669AWC4 0.821584 5.558143 987.292695
B2B 2,876,400.67 6.750000% 12669AWD2 0.821584 5.558143 987.292695
B2C 1,580,982.85 6.750000% 12669AWE0 0.821584 5.558143 987.292695
B2D 1,294,429.70 6.750000% 12669AWN0 0.821584 5.558143 987.292695
B2E 719,347.19 6.750000% 12669AWP5 0.821584 5.558143 987.292695
2BF 862,965.99 6.750000% 12669AWQ3 0.821584 5.558145 987.293079
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 694,174,532.58 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1998-H
Residential Asset Securitization Trust, 1998-A8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
stated principal balance 506,793,803.95 180,279,558.68 687,073,362.63
loan count 3393 477 3870
average loan rate 7.969753% 7.747138% 7.91
prepayment amount 5,075,559.36 1,470,172.82 6,545,732.18
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 39,840.00 14,347.51 54,187.51
sub servicer fees 106,757.02 37,969.03 144,726.05
trustee fees 3,842.05 1,364.26 5,206.31
Aggregate advances N/A N/A N/A
Advances this periods 107,622.11 54,282.13 161,904.24
- --------------------------------------------------------------------------------
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 6,903,976.84 2,910,377.13 9,814,353.97
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.000221% 91.675688% 638,601,260.14
-----------------------------------------------------------------------------
Junior 7.999779% 8.324312% 55,528,876.98
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 68 11,392,556.67
60 to 89 days 15 3,569,136.54
90 or more 3 917,030.49
Foreclosure 25 4,561,282.56
Totals: 111 20,440,006.26
- --------------------------------------------------------------------------------
<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
Totals: 0 N/A
Current Total Outstanding Balance: 992,851.09
Current Total Outstanding Number of Loans: 3
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 11,455,516.04 11,455,516.04
Principal remittance amount 7,130,855.07 7,130,855.07
Interest remittance amount 4,324,660.97 4,324,660.97
