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 1998-17)
(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 September 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 September 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: 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 1998-17
------------------------------------------------------------
<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 224,108,943.52 6.500000% 1,513,562.79 1,213,923.44 2,727,486.24 0.00 0.00
A2 17,465,590.58 6.250000% 141,045.76 90,966.62 232,012.38 0.00 0.00
A3 17,465,590.58 6.750000% 141,045.76 98,243.95 239,289.71 0.00 0.00
A4 2,658,710.00 6.500000% 0.00 14,401.35 14,401.35 0.00 0.00
A5 12,671,907.22 6.500000% 45,872.33 68,639.50 114,511.83 0.00 0.00
A6 8,690,877.88 6.500000% 70,184.37 47,075.59 117,259.96 0.00 0.00
PO 441,914.71 0.000000% 2,072.33 0.00 2,072.33 0.00 0.00
X 252,822,879.59 0.434031% 0.00 91,444.20 91,444.20 0.00 0.00
M 4,385,978.79 6.500000% 15,877.25 23,757.39 39,634.64 0.00 0.00
B1 1,253,136.23 6.500000% 4,536.36 6,787.82 11,324.18 0.00 0.00
B2 939,852.19 6.500000% 3,402.27 5,090.87 8,493.13 0.00 0.00
B3 783,210.17 6.500000% 2,835.22 4,242.39 7,077.61 0.00 0.00
B4 626,568.12 6.500000% 2,268.18 3,393.91 5,662.09 0.00 0.00
B5 626,570.96 6.500000% 2,268.19 3,393.93 5,662.11 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 292,118,850.95 - 1,944,970.81 1,671,360.94 3,616,331.75 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 222,595,380.73 0.00
A2 17,324,544.82 0.00
A3 17,324,544.82 0.00
A4 2,658,710.00 0.00
A5 12,626,034.89 0.00
A6 8,620,693.51 0.00
PO 439,842.38 0.00
X 251,232,084.71 0.00
M 4,370,101.54 0.00
B1 1,248,599.87 0.00
B2 936,449.92 0.00
B3 780,374.95 0.00
B4 624,299.94 0.00
B5 624,302.77 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 290,173,880.14 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/99
------------------------------------------------------------
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 224,108,943.52 6.500000% 12669AF33 6.054254 4.855696 890.381879
A2 17,465,590.58 6.250000% 12669AF41 7.052288 4.548331 866.227241
A3 17,465,590.58 6.750000% 12669AF58 7.052288 4.912197 866.227241
A4 2,658,710.00 6.500000% 12669AF66 0.000000 5.416667 1,000.000000
A5 12,671,907.22 6.500000% 12669AF74 3.487680 5.218671 959.959321
A6 8,690,877.88 6.500000% 12669AF82 7.052288 4.730264 866.227242
PO 441,914.71 0.000000% 12669AF90 4.460216 0.000000 946.661032
X 252,822,879.59 0.434031% 12669AG24 0.000000 0.322379 885.698979
M 4,385,978.79 6.500000% 12669AG40 3.487680 5.218671 959.959322
B1 1,253,136.23 6.500000% 12669AG57 3.487680 5.218671 959.959309
B2 939,852.19 6.500000% 12669AG65 3.487680 5.218671 959.959327
B3 783,210.17 6.500000% 12669AI85 3.487680 5.218671 959.959341
B4 626,568.12 6.500000% 12669AI93 3.487680 5.218671 959.959317
B5 626,570.96 6.500000% 12669AM27 3.487680 5.218677 959.959240
Residual AR 0.00 6.500000% 12669AG32 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 292,118,850.95 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-17
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 290,173,880.19 290,173,880.19
Aggregated loan count 1595 1595
Aggregated average loan rate 7.126368% 7.13
Aggregated prepayment amount 887,449.95 887,449.95
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 60,688.67 60,688.67
Monthly sub servicer fees 378.72 378.72
Monthly trustee fees 2,190.89 2,190.89
Aggregate advances N/A N/A
Advances this periods 19,203.43 19,203.43
- --------------------------------------------------------------------------------
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% 292,118,850.95
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 12 1,962,519.79
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 1 53,041.81
Totals: 13 2,015,561.60
- --------------------------------------------------------------------------------
<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 3,616,331.75 3,616,331.75
Principal remittance amount 1,944,970.81 1,944,970.81
Interest remittance amount 1,671,360.94 1,671,360.94
