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 1998-11)
(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 1998-11
On April 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., MORTGAGE
PASS-THROUGH CERTIFICATES Series 1998-11, 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,
CWMBS, INC., 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 1998-11 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
------------------------------------------------------------
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1998-11
------------------------------------------------------------
<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 73,861,143.61 6.750000% 3,155,883.12 415,468.93 3,571,352.05 0.00 0.00
A2 24,656,000.00 6.750000% 0.00 138,690.00 138,690.00 0.00 0.00
A3 10,704,758.00 6.500000% 0.00 57,984.11 57,984.11 0.00 0.00
A4 35,897,448.35 6.750000% 1,017,021.69 201,923.15 1,218,944.83 0.00 0.00
A5 31,795,623.00 6.750000% 0.00 178,850.38 178,850.38 0.00 0.00
A6 3,100,000.00 7.000000% 0.00 18,083.33 18,083.33 0.00 0.00
A7 3,089,000.00 7.000000% 0.00 18,019.17 18,019.17 0.00 0.00
A8 2,623,000.00 7.000000% 0.00 15,300.83 15,300.83 0.00 0.00
A9 1,892,757.00 7.000000% 0.00 11,041.08 11,041.08 0.00 0.00
A10 32,991,043.52 6.250000% 385,397.76 171,828.35 557,226.11 0.00 0.00
A11 36,830,471.60 5.338750% 2,387,014.63 163,857.23 2,550,871.86 0.00 0.00
A12 9,548,640.99 12.193392% 618,855.66 97,025.27 715,880.93 0.00 0.00
A13 2,443,781.00 6.750000% 0.00 13,746.27 13,746.27 0.00 0.00
PO 308,884.47 0.000000% 346.15 0.00 346.15 0.00 0.00
X1A 2,624,324.50 0.544526% 0.00 1,190.84 1,190.84 0.00 0.00
X1B 105,495,000.00 0.544526% 0.00 47,870.61 47,870.61 0.00 0.00
X1C 60,442,000.00 0.544526% 0.00 27,426.85 27,426.85 0.00 0.00
X1D 98,097,356.05 0.544526% 0.00 44,513.77 44,513.77 0.00 0.00
M 8,817,314.79 6.750000% 7,038.89 49,597.40 56,636.28 0.00 0.00
B1 3,327,288.41 6.750000% 2,656.18 18,716.00 21,372.18 0.00 0.00
B2 1,497,279.29 6.750000% 1,195.28 8,422.20 9,617.48 0.00 0.00
B3 1,164,550.45 6.750000% 929.66 6,550.60 7,480.26 0.00 0.00
B4 831,821.60 6.750000% 664.05 4,679.00 5,343.04 0.00 0.00
B5 998,188.70 6.750000% 796.86 5,614.81 6,411.67 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.01 0.01 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 283,935,213.76 - 7,577,799.92 1,716,400.17 9,294,200.09 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 70,705,260.49 0.00
A2 24,656,000.00 0.00
A3 10,704,758.00 0.00
A4 34,880,426.66 0.00
A5 31,795,623.00 0.00
A6 3,100,000.00 0.00
A7 3,089,000.00 0.00
A8 2,623,000.00 0.00
A9 1,892,757.00 0.00
A10 32,605,645.76 0.00
A11 34,443,456.97 0.00
A12 8,929,785.33 0.00
A13 2,415,233.02 0.00
PO 308,538.32 0.00
X1A 1,801,570.15 0.00
X1B 105,495,000.00 0.00
X1C 60,442,000.00 0.00
X1D 91,359,998.83 0.00
M 8,810,275.90 0.00
B1 3,324,632.22 0.00
B2 1,496,084.01 0.00
B3 1,163,620.79 0.00
B4 831,157.56 0.00
B5 997,391.84 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 276,357,413.84 121,002.07
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
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CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1998-11
------------------------------------------------------------
<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 73,861,143.61 6.750000% 12669AUF9 33.176169 4.367610 743.287889
A2 24,656,000.00 6.750000% 12669AUG7 0.000000 5.625000 1,000.000000
A3 10,704,758.00 6.500000% 12669AUH5 0.000000 5.416667 1,000.000000
A4 35,897,448.35 6.750000% 12669AUJ1 23.789981 4.723348 815.916413
A5 31,795,623.00 6.750000% 12669AUK8 0.000000 5.625000 1,000.000000
A6 3,100,000.00 7.000000% 12669AUL6 0.000000 5.833333 1,000.000000
A7 3,089,000.00 7.000000% 12669AUM4 0.000000 5.833333 1,000.000000
A8 2,623,000.00 7.000000% 12669AUN2 0.000000 5.833333 1,000.000000
A9 1,892,757.00 7.000000% 12669AUP7 0.000000 5.833333 1,000.000000
A10 32,991,043.52 6.250000% 12669AUQ5 10.910675 4.864489 923.071250
A11 36,830,471.60 5.338750% 12669AUR3 44.932811 3.084424 648.358556
A12 9,548,640.99 12.193392% 12669AUS1 44.932811 7.044645 648.358556
A13 2,443,781.00 6.750000% 12669AWJ9 0.000000 5.253649 923.071433
PO 308,884.47 0.000000% 12669AUT9 1.110041 0.000000 989.437362
X1A 2,624,324.50 0.544526% 12669AUU6 0.000000 0.156033 236.054789
X1B 105,495,000.00 0.544526% 12669AUV4 0.000000 0.453771 1,000.000000
X1C 60,442,000.00 0.544526% 12669AVD3 0.000000 0.453771 1,000.000000
X1D 98,097,356.05 0.544526% 12669AVE1 0.000000 0.309077 634.348505
M 8,817,314.79 6.750000% 12669AUX0 0.792846 5.586548 992.371247
B1 3,327,288.41 6.750000% 12669AUY8 0.792846 5.586548 992.371245
B2 1,497,279.29 6.750000% 12669AUZ5 0.792846 5.586548 992.371246
B3 1,164,550.45 6.750000% 12669AVA9 0.792846 5.586548 992.371250
B4 831,821.60 6.750000% 12669AVB7 0.792846 5.586548 992.371244
B5 998,188.70 6.750000% 12669AVC5 0.792846 5.586548 992.371246
Residual AR 0.00 6.750000% 12669AUW2 0.000000 0.076126 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 283,935,213.76 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1998-11
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 276,357,413.83 276,357,413.83
Aggregated loan count 1053 1053
Aggregated average loan rate 7.545307% 7.55
Aggregated prepayment amount 7,351,098.34 7,351,098.34
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 54,977.09 54,977.09
Monthly sub servicer fees 7,632.45 7,632.45
Monthly trustee fees 2,129.51 2,129.51
Aggregate advances N/A N/A
Advances this periods 27,615.89 27,615.89
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 6,664,828.00 6,664,828.00
Special Hazard 3,332,414.00 3,332,414.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 283,935,213.76
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 2,428,535.43
60 to 89 days 4 430,910.65
90 or more 3 358,715.88
Foreclosure 1 597,960.03
Totals: 18 3,816,121.99
- --------------------------------------------------------------------------------
<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 9,294,200.09 9,294,200.09
Principal remittance amount 7,577,799.92 7,577,799.92
Interest remittance amount 1,716,400.17 1,716,400.17
