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, 1998
CWMBS, Inc
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-17)
(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 1998-17
On November 25, 1998, The Bank of New York, as Trustee for CWMBS, Inc, MORTGAGE
PASS-THROUGH CERTIFICATES SERIES 1998-17, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of September 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 1998-17 relating to the distribution
date of November 25, 1998 prepared by The Bank of New York,
as Trustee under the Pooling and Servicing Agreement dated
as of September 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, 1998
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, 1998
Payment Date: 11/25/98
------------------------------------------------------------
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-17
------------------------------------------------------------
<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 248,518,228.24 6.500000% 2,153,431.59 1,346,140.40 3,499,571.99 0.00 0.00
A2 19,860,490.01 6.250000% 209,812.57 103,440.05 313,252.62 0.00 0.00
A3 19,860,490.01 6.750000% 209,812.57 111,715.26 321,527.83 0.00 0.00
A4 2,658,710.00 6.500000% 0.00 14,401.35 14,401.35 0.00 0.00
A5 13,111,357.98 6.500000% 42,440.17 71,019.86 113,460.02 0.00 0.00
A6 9,882,579.83 6.500000% 104,402.74 53,530.64 157,933.38 0.00 0.00
PO 462,859.80 0.000000% 1,707.81 0.00 1,707.81 0.00 0.00
X 281,898,024.70 0.443373% 0.00 104,155.00 104,155.00 0.00 0.00
M 4,538,080.73 6.500000% 14,689.32 24,581.27 39,270.59 0.00 0.00
B1 1,296,593.92 6.500000% 4,196.95 7,023.22 11,220.16 0.00 0.00
B2 972,445.44 6.500000% 3,147.71 5,267.41 8,415.12 0.00 0.00
B3 810,371.20 6.500000% 2,623.09 4,389.51 7,012.60 0.00 0.00
B4 648,296.96 6.500000% 2,098.47 3,511.61 5,610.08 0.00 0.00
B5 648,299.89 6.500000% 2,098.48 3,511.62 5,610.11 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.24 0.24 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 323,268,804.03 - 2,750,461.46 1,852,687.44 4,603,148.90 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 246,364,796.66 0.00
A2 19,650,677.44 0.00
A3 19,650,677.44 0.00
A4 2,658,710.00 0.00
A5 13,068,917.81 0.00
A6 9,778,177.09 0.00
PO 461,151.99 0.00
X 279,293,496.49 0.00
M 4,523,391.41 0.00
B1 1,292,396.98 0.00
B2 969,297.73 0.00
B3 807,748.11 0.00
B4 646,198.49 0.00
B5 646,201.41 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 320,518,342.57 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/98
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CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-17
------------------------------------------------------------
<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 248,518,228.24 6.500000% 12669AF33 8.613730 5.384564 985.459581
A2 19,860,490.01 6.250000% 12669AF41 10.490629 5.172003 982.533872
A3 19,860,490.01 6.750000% 12669AF58 10.490629 5.585763 982.533872
A4 2,658,710.00 6.500000% 12669AF66 0.000000 5.416667 1,000.000000
A5 13,111,357.98 6.500000% 12669AF74 3.226732 5.399650 993.631776
A6 9,882,579.83 6.500000% 12669AF82 10.490629 5.378883 982.533872
PO 462,859.80 0.000000% 12669AF90 3.675664 0.000000 992.524134
X 281,898,024.70 0.443373% 12669AG24 0.000000 0.367190 984.627280
M 4,538,080.73 6.500000% 12669AG40 3.226732 5.399650 993.631776
B1 1,296,593.92 6.500000% 12669AG57 3.226732 5.399650 993.631776
B2 972,445.44 6.500000% 12669AG65 3.226732 5.399650 993.631776
B3 810,371.20 6.500000% 12669AI85 3.226732 5.399650 993.631776
B4 648,296.96 6.500000% 12669AI93 3.226732 5.399650 993.631776
B5 648,299.89 6.500000% 12669AM27 3.226732 5.399650 993.631776
Residual AR 0.00 6.500000% 12669AG32 0.000000 2.446428 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 323,268,804.03 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-17
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 320,518,342.57 320,518,342.57
Aggregated loan count 1676 1676
Aggregated average loan rate 7.138309% 7.14
Aggregated prepayment amount 1,704,013.95 1,704,013.95
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 67,347.67 67,347.67
Monthly sub servicer fees 534.58 534.58
Monthly trustee fees 2,424.52 2,424.52
Aggregate advances N/A N/A
Advances this periods 24,689.14 24,689.14
- --------------------------------------------------------------------------------
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 0.00 0.00
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 323,268,804.03
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 19 2,668,381.92
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 19 2,668,381.92
- --------------------------------------------------------------------------------
<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 4,603,148.90 4,603,148.90
Principal remittance amount 2,750,461.46 2,750,461.46
Interest remittance amount 1,852,687.44 1,852,687.44
