CWMBS INC MORT PASS THR CERT SER 1998-15
8-K, 2000-02-03
ASSET-BACKED SECURITIES
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                      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): September 25, 1999

                                  CWMBS, INC.

                                  (Depositor)

   (Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-15)

                (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 1998-15

On  September  25,  1999,  The  Bank  of  New  York, as Trustee for CWMBS, INC.,
Mortgage  Pass-Through  Certificates Series 1998-15, made a monthly distribution
to  Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of August 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  1998-15  relating  to the distribution
                    date of September 25, 1999 prepared by The Bank of New York,
                    as  Trustee  under the Pooling and Servicing Agreement dated
                    as of August 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: September 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 September 25, 1999



                             Payment Date: 09/25/99


          ------------------------------------------------------------
                             Countrywide Home Loans
               Mortgage Pass-Through Certificates, Series 1998-15
          ------------------------------------------------------------
<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         16,273,117.68    6.250000%       316,128.70     84,755.82      400,884.52       0.00       0.00
                        A2         17,387,000.00    6.550000%             0.00     94,904.04       94,904.04       0.00       0.00
                        A3          1,720,586.49    6.750000%             0.00      9,678.30        9,678.30       0.00       0.00
                        A4         96,215,847.17    6.750000%       847,073.93    541,214.14    1,388,288.07       0.00       0.00
                        A5         26,141,985.23    6.750000%       176,667.57    147,048.67      323,716.24       0.00       0.00
                        A6          9,422,000.00    6.750000%             0.00     52,998.75       52,998.75       0.00       0.00
                        A7                  0.00    6.750000%             0.00          0.00            0.00       0.00       0.00
                        A8         23,317,000.00    6.750000%             0.00    131,158.13      131,158.13       0.00       0.00
                        A9         58,082,161.12    6.750000%       515,412.53    326,712.16      842,124.69       0.00       0.00
                        A10        14,425,000.00    6.750000%             0.00     81,140.63       81,140.63       0.00       0.00
                        A11        27,581,149.55    5.838750%       106,882.99    134,199.53      241,082.52       0.00       0.00
                        A12         7,150,668.40   10.264818%        27,710.41     61,166.92       88,877.33       0.00       0.00
                        A13                 0.00    6.750000%             0.00          0.00            0.00       0.00       0.00
                        A14         1,834,411.92    6.750000%             0.00          0.00            0.00       0.00       0.00
                        A15        10,845,000.00    6.750000%             0.00     61,003.13       61,003.13       0.00       0.00
                        A16        55,730,000.00    6.750000%             0.00    313,481.25      313,481.25       0.00       0.00
                        PO            518,207.25    0.000000%           534.71          0.00          534.71       0.00       0.00
                        X         329,423,984.90    0.434769%             0.00    119,352.77      119,352.77       0.00       0.00
                        M           9,361,521.28    6.750000%         8,157.91     52,658.56       60,816.47       0.00       0.00
                        B1          4,457,961.58    6.750000%         3,884.80     25,076.03       28,960.84       0.00       0.00
                        B2          2,228,980.79    6.750000%         1,942.40     12,538.02       14,480.42       0.00       0.00
                        B3          1,783,382.68    6.750000%         1,554.09     10,031.53       11,585.62       0.00       0.00
                        B4            891,196.23    6.750000%           776.62      5,012.98        5,789.59       0.00       0.00
                        B5          1,338,319.17    6.750000%         1,166.25      7,528.05        8,694.30       0.00       0.00
Residual                AR                  0.00    6.750000%             0.00          0.00            0.00       0.00       0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals          -        -        384,984,910.06     -            2,007,892.92  2,271,659.39    4,279,552.31     -          -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information

- --------------------------------------------------------------------------------
                                             Ending Cert.          Unpaid
Type             Class Code     Name         Notional Bal.         Interest
- --------------------------------------------------------------------------------
Senior                          A1         15,956,988.98              0.00
                                A2         17,387,000.00              0.00
                                A3          1,697,169.55              0.00
                                A4         95,368,773.25              0.00
                                A5         25,965,317.66              0.00
                                A6          9,422,000.00              0.00
                                A7                  0.00              0.00
                                A8         23,317,000.00              0.00
                                A9         57,566,748.59              0.00
                                A10        14,425,000.00              0.00
                                A11        27,474,266.56              0.00
                                A12         7,122,958.00              0.00
                                A13                 0.00              0.00
                                A14         1,844,730.48              0.00
                                A15        10,845,000.00              0.00
                                A16        55,730,000.00              0.00
                                PO            517,672.54              0.00
                                X         327,491,388.75              0.00
                                M           9,353,363.37              0.00
                                B1          4,454,076.78              0.00
                                B2          2,227,038.39              0.00
                                B3          1,781,828.58              0.00
                                B4            890,419.61              0.00
                                B5          1,337,152.92              0.00
Residual                        AR                  0.00              0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals            -              -        382,987,335.71     -
- --------------------------------------------------------------------------------

</TABLE>
<PAGE>
                             Payment Date: 09/25/99


          ------------------------------------------------------------
                             Countrywide Home Loans
               Mortgage Pass-Through Certificates, Series 1998-15
          ------------------------------------------------------------
<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     16,273,117.68     6.250000% 12669AYP3    19.074923      5.114090    962.830446
                           A2     17,387,000.00     6.550000% 12669AYQ1     0.000000      5.458333  1,000.000000
                           A3      1,720,586.49     6.750000% 12669AYR9     0.000000      5.553304    973.817738
                           A4     96,215,847.17     6.750000% 12669AYS7     7.384224      4.717943    831.361240
                           A5     26,141,985.23     6.750000% 12669AYT5     5.888919      4.901622    865.510589
                           A6      9,422,000.00     6.750000% 12669AYU2     0.000000      5.625000  1,000.000000
                           A7              0.00     6.750000% 12669AYV0     0.000000      0.000000      0.000000
                           A8     23,317,000.00     6.750000% 12669AYW8     0.000000      5.625000  1,000.000000
                           A9     58,082,161.12     6.750000% 12669AYX6     6.872167      4.356162    767.556648
                           A10    14,425,000.00     6.750000% 12669AYY4     0.000000      5.625000  1,000.000000
                           A11    27,581,149.55     5.838750% 12669AYZ1     2.748094      3.450436    706.397381
                           A12     7,150,668.40    10.264818% 12669AZA5     2.748094      6.066041    706.397381
                           A13             0.00     6.750000% 12669AZB3     0.000000      0.000000      0.000000
                           A14     1,834,411.92     6.750000% 12669AZC1     0.000000      0.000000  1,075.644597
                           A15    10,845,000.00     6.750000% 12669AZD9     0.000000      5.625000  1,000.000000
                           A16    55,730,000.00     6.750000% 12669AZE7     0.000000      5.625000  1,000.000000
                           PO        518,207.25     0.000000% 12669AZF4     0.962785      0.000000    932.103436
                           X     329,423,984.90     0.434769% 12669AZG2     0.000000      0.304549    835.648998
                           M       9,361,521.28     6.750000% 12669AZJ6     0.862906      5.569976    989.355127
                           B1      4,457,961.58     6.750000% 12669AZ43     0.862906      5.569976    989.355127
                           B2      2,228,980.79     6.750000% 12669AZL1     0.862906      5.569976    989.355127
                           B3      1,783,382.68     6.750000% 12669AZQ0     0.862906      5.569976    989.355127
                           B4        891,196.23     6.750000% 12669AZR8     0.862906      5.569976    989.355127
                           B5      1,338,319.17     6.750000% 12669AZS6     0.862906      5.569976    989.355046
Residual                   AR              0.00     6.750000% 12669AZH0     0.000000      0.000000      0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals       -             -     384,984,910.06       -            -           -             -           -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

          ------------------------------------------------------------
                             Countrywide Home Loans
               Mortgage Pass-Through Certificates, Series 1998-15
          ------------------------------------------------------------

- --------------------------------------------------------------------------------
                             COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
                                                             Total
                                                             -----
Aggregated stated principal balance  382,987,331.63   382,987,331.63
Aggregated loan count                          1197             1197
Aggregated average loan rate              7.390403%             7.39
Aggregated prepayment amount           1,662,048.86     1,662,048.86

- --------------------------------------------------------------------------------
                                FEES AND ADVANCES
- --------------------------------------------------------------------------------
                                                             Total
                                                             -----
Monthly master servicing fees             78,795.34        78,795.34
Monthly sub servicer fees                  5,924.27         5,924.27
Monthly trustee fees                       2,887.39         2,887.39


Aggregate advances                              N/A              N/A
Advances this periods                     39,691.06        39,691.06

- --------------------------------------------------------------------------------
                          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                                  4,501,970.21     4,501,970.21
Special Hazard                         7,434,649.94     7,434,649.94


                         Aggregate Certificate Information
   -----------------------------------------------------------------------------
   Class            Aggregate           Aggregate                     Aggregate
   Type            Percentage           Prepay Pct.              End Cert. Bal.
   -----------------------------------------------------------------------------
   Senior          100.000000%           100.000000%            384,984,910.06
   -----------------------------------------------------------------------------
   Junior            0.000000%             0.000000%                      0.00
   -----------------------------------------------------------------------------

- --------------------------------------------------------------------------------
                          DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period                             Loan Count    Ending Stated Balance
- ------                             ----------    ---------------------
30 to 59 days                          12                 3,503,050.20
60 to 89 days                           1                   459,338.91
90 or more                              1                   739,982.68
Foreclosure                             4                   802,281.52

Totals:                                18                 5,504,653.31
- --------------------------------------------------------------------------------


<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            4,279,552.31          4,279,552.31
Principal remittance amount            2,007,892.92          2,007,892.92
Interest remittance amount             2,271,659.39          2,271,659.39





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