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): August 25, 1999
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 August 25, 1999, 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, 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 1998-17 relating to the distribution
date of August 25, 1999 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: August 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 August 25, 1999
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
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 226,400,818.95 6.500000% 2,291,875.43 1,226,337.77 3,518,213.20 0.00 0.00
A2 17,688,804.89 6.250000% 223,214.30 92,129.19 315,343.49 0.00 0.00
A3 17,688,804.89 6.750000% 223,214.30 99,499.53 322,713.83 0.00 0.00
A4 2,658,710.00 6.500000% 0.00 14,401.35 14,401.35 0.00 0.00
A5 12,717,293.42 6.500000% 45,386.17 68,885.34 114,271.51 0.00 0.00
A6 8,801,949.31 6.500000% 111,071.44 47,677.23 158,748.67 0.00 0.00
PO 443,862.92 0.000000% 1,948.21 0.00 1,948.21 0.00 0.00
X 255,475,579.13 0.434800% 0.00 92,567.23 92,567.23 0.00 0.00
M 4,401,687.96 6.500000% 15,708.98 23,842.48 39,551.46 0.00 0.00
B1 1,257,624.58 6.500000% 4,488.28 6,812.13 11,300.41 0.00 0.00
B2 943,218.43 6.500000% 3,366.21 5,109.10 8,475.31 0.00 0.00
B3 786,015.36 6.500000% 2,805.17 4,257.58 7,062.75 0.00 0.00
B4 628,812.29 6.500000% 2,244.14 3,406.07 5,650.21 0.00 0.00
B5 628,815.13 6.500000% 2,244.15 3,406.08 5,650.23 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 295,046,418.13 - 2,927,566.78 1,688,331.07 4,615,897.85 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 224,108,943.52 0.00
A2 17,465,590.58 0.00
A3 17,465,590.58 0.00
A4 2,658,710.00 0.00
A5 12,671,907.22 0.00
A6 8,690,877.88 0.00
PO 441,914.71 0.00
X 252,822,879.59 0.00
M 4,385,978.79 0.00
B1 1,253,136.23 0.00
B2 939,852.19 0.00
B3 783,210.17 0.00
B4 626,568.12 0.00
B5 626,570.96 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 292,118,850.95 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
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 226,400,818.95 6.500000% 12669AF33 9.167505 4.905353 896.436133
A2 17,688,804.89 6.250000% 12669AF41 11.160715 4.606460 873.279529
A3 17,688,804.89 6.750000% 12669AF58 11.160715 4.974976 873.279529
A4 2,658,710.00 6.500000% 12669AF66 0.000000 5.416667 1,000.000000
A5 12,717,293.42 6.500000% 12669AF74 3.450717 5.237363 963.447002
A6 8,801,949.31 6.500000% 12669AF82 11.160715 4.790718 873.279530
PO 443,862.92 0.000000% 12669AF90 4.193080 0.000000 951.121248
X 255,475,579.13 0.434800% 12669AG24 0.000000 0.326339 891.307201
M 4,401,687.96 6.500000% 12669AG40 3.450717 5.237363 963.447002
B1 1,257,624.58 6.500000% 12669AG57 3.450718 5.237363 963.446989
B2 943,218.43 6.500000% 12669AG65 3.450718 5.237363 963.447007
B3 786,015.36 6.500000% 12669AI85 3.450712 5.237363 963.447022
B4 628,812.29 6.500000% 12669AI93 3.450718 5.237363 963.446997
B5 628,815.13 6.500000% 12669AM27 3.450718 5.237362 963.446920
Residual AR 0.00 6.500000% 12669AG32 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 295,046,418.13 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-17
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 292,118,851.00 292,118,851.00
Aggregated loan count 1607 1607
Aggregated average loan rate 7.127257% 7.13
Aggregated prepayment amount 1,874,532.19 1,874,532.19
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 60,372.26 60,372.26
Monthly sub servicer fees 381.24 381.24
Monthly trustee fees 2,212.85 2,212.85
Aggregate advances N/A N/A
Advances this periods 21,326.16 21,326.16
- --------------------------------------------------------------------------------
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% 295,046,418.13
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 13 2,139,045.70
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 13 2,139,045.70
- --------------------------------------------------------------------------------
<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 4,615,897.85 4,615,897.85
Principal remittance amount 2,927,566.78 2,927,566.78
Interest remittance amount 1,688,331.07 1,688,331.07