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 1998-12)
(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 1998-12
On April 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1998-12, 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,
Countrywide Home Loans, 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 1998-12 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
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-12
------------------------------------------------------------
<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 1A1 79,528,969.74 6.750000% 373,504.55 447,350.45 820,855.00 0.00 0.00
2A1 118,227,970.74 6.750000% 3,176,742.03 665,032.34 3,841,774.37 0.00 0.00
2A2 35,269,610.90 6.500000% 947,681.46 191,043.73 1,138,725.18 0.00 0.00
2A3 45,285,039.66 6.750000% 944,590.47 254,728.35 1,199,318.82 0.00 0.00
2A4 46,054,753.00 6.750000% 0.00 259,057.99 259,057.99 0.00 0.00
2A5 3,918,845.26 9.000000% 105,297.93 29,391.34 134,689.27 0.00 0.00
PO 333,544.26 0.000000% 494.12 0.00 494.12 0.00 0.00
X1 66,150,539.83 0.266924% 0.00 14,714.32 14,714.32 0.00 0.00
X2 264,631,175.54 0.816441% 0.00 180,046.38 180,046.38 0.00 0.00
M 6,812,287.74 6.750000% 5,446.46 38,319.12 43,765.58 0.00 0.00
B1 5,866,136.75 6.750000% 4,690.01 32,997.02 37,687.03 0.00 0.00
B2 3,595,374.17 6.750000% 2,874.52 20,223.98 23,098.50 0.00 0.00
B3 2,081,531.78 6.750000% 1,664.20 11,708.62 13,372.81 0.00 0.00
B4 946,150.99 6.750000% 756.45 5,322.10 6,078.55 0.00 0.00
B5 1,513,882.61 6.750000% 1,210.36 8,515.59 9,725.95 0.00 0.00
Y 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.18 0.18 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 349,434,097.61 - 5,564,952.57 2,158,451.49 7,723,404.06 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1A1 79,155,465.20 0.00
2A1 115,051,228.71 0.00
2A2 34,321,929.45 0.00
2A3 44,340,449.18 0.00
2A4 46,054,753.00 0.00
2A5 3,813,547.33 0.00
PO 333,050.13 0.00
X1 65,793,194.21 0.00
X2 259,444,518.97 0.00
M 6,806,841.27 0.00
B1 5,861,446.73 0.00
B2 3,592,499.64 0.00
B3 2,079,867.59 0.00
B4 945,394.54 0.00
B5 1,512,672.26 0.00
Y 0.00 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 343,869,145.04 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-12
------------------------------------------------------------
<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 1A1 79,528,969.74 6.750000% 12669ATD6 4.384955 5.251908 929.287623
2A1 118,227,970.74 6.750000% 12669ATE4 23.692036 4.959789 858.048236
2A2 35,269,610.90 6.500000% 12669ATF1 23.692036 4.776093 858.048236
2A3 45,285,039.66 6.750000% 12669ATG9 18.891809 5.094567 886.808984
2A4 46,054,753.00 6.750000% 12669ATH7 0.000000 5.625000 1,000.000000
2A5 3,918,845.26 9.000000% 12669ATJ3 23.692036 6.613052 858.048236
PO 333,544.26 0.000000% 12669ATK0 1.446384 0.000000 974.892006
X1 66,150,539.83 0.266924% 12669AWR1 0.000000 0.206891 925.088130
X2 264,631,175.54 0.816441% 12669AWR1 0.000000 0.619642 892.896331
M 6,812,287.74 6.750000% 12669ATP9 0.794046 5.586585 992.376625
B1 5,866,136.75 6.750000% 12669ATQ7 0.794046 5.586585 992.376625
B2 3,595,374.17 6.750000% 12669ATR5 0.794046 5.586585 992.376625
B3 2,081,531.78 6.750000% 12669AWF7 0.794046 5.586585 992.376625
B4 946,150.99 6.750000% 12669AWG5 0.794046 5.586585 992.376625
B5 1,513,882.61 6.750000% 12669AWH3 0.794046 5.586585 992.376625
Y 0.00 0.000000% 12669AWS9 0.000000 0.000000 0.000000
Residual AR 0.00 6.750000% 12669ATN4 0.000000 1.791348 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 349,434,097.61 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-12
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 84,424,624.29 259,444,518.97 343,869,143.26
Aggregated loan count 729 2474 3203
Aggregated average loan rate 7.284615% 7.845616% 7.71
Aggregated prepayment amount 304,500.69 4,980,874.18 5,285,374.87
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 17,208.65 50,089.74 67,298.39
Monthly sub servicer fees 6,639.31 4,449.09 11,088.41
Monthly trustee fees 636.02 1,984.73 2,620.76
Aggregate advances N/A N/A N/A
Advances this periods 6,379.57 21,775.54 28,155.11
- --------------------------------------------------------------------------------
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 1,809,955.32 5,811,302.16 7,621,257.48
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 349,434,097.61
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 2,277,906.28
60 to 89 days 9 534,596.90
90 or more 1 1,036,274.56
Foreclosure 0 0.00
Totals: 18 3,848,777.74
- --------------------------------------------------------------------------------
<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 7,723,404.06 7,723,404.06
Principal remittance amount 5,564,952.57 5,564,952.57
Interest remittance amount 2,158,451.49 2,158,451.49
