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, 1999
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-19)
(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 1998-19
On November 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1998-19, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of October 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 1998-19 relating to the distribution
date of November 25, 1999 prepared by The Bank of New York,
as Trustee under the Pooling and Servicing Agreement dated
as of October 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, 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-19
------------------------------------------------------------
<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 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A2 171,685,826.22 6.500000% 976,156.92 929,964.89 1,906,121.82 0.00 0.00
A3 131,586,635.23 6.500000% 660,322.94 712,760.94 1,373,083.88 0.00 0.00
A4 24,997,271.85 6.500000% 125,440.34 135,401.89 260,842.23 0.00 0.00
A5 13,261,563.00 6.508750% 0.00 71,930.17 71,930.17 0.00 0.00
A6 8,487,400.00 7.000000% 0.00 49,509.83 49,509.83 0.00 0.00
A7 5,289,000.00 6.500000% 0.00 28,648.75 28,648.75 0.00 0.00
A8 7,395,000.00 6.500000% 0.00 40,056.25 40,056.25 0.00 0.00
A9 755,000.00 6.500000% 0.00 4,089.58 4,089.58 0.00 0.00
A10 4,700,000.00 6.750000% 0.00 26,437.50 26,437.50 0.00 0.00
A11 4,700,000.00 6.250000% 0.00 24,479.17 24,479.17 0.00 0.00
A12 3,713,237.00 5.325891% 0.00 16,480.25 16,480.25 0.00 0.00
A13 50,000,000.00 6.500000% 0.00 270,833.33 270,833.33 0.00 0.00
PO 280,322.15 0.000000% 393.67 0.00 393.67 0.00 0.00
X 423,832,861.04 0.516294% 0.00 182,352.03 182,352.03 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
M 9,903,330.08 6.500000% 9,229.15 53,643.04 62,872.19 0.00 0.00
B1 4,704,081.69 6.500000% 4,383.85 25,480.44 29,864.29 0.00 0.00
B2 2,228,249.16 6.500000% 2,076.56 12,069.68 14,146.24 0.00 0.00
B3 1,733,082.47 6.500000% 1,615.10 9,387.53 11,002.63 0.00 0.00
B4 1,237,915.77 6.500000% 1,153.64 6,705.38 7,859.02 0.00 0.00
B5 1,237,955.80 6.500000% 1,153.61 6,705.59 7,859.21 19,437.85 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 447,895,870.43 - 1,781,925.78 2,606,936.24 4,388,862.02 19,437.85 -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 0.00 0.00
A2 170,709,669.30 0.00
A3 130,926,312.29 0.00
A4 24,871,831.52 0.00
A5 13,261,563.00 0.00
A6 8,487,400.00 0.00
A7 5,289,000.00 0.00
A8 7,395,000.00 0.00
A9 755,000.00 0.00
A10 4,700,000.00 0.00
A11 4,700,000.00 0.00
A12 3,713,237.00 0.00
A13 50,000,000.00 0.00
PO 279,928.48 0.00
X 422,067,010.04 0.00
Residual AR 0.00 0.00
M 9,894,100.94 0.00
B1 4,699,697.84 0.00
B2 2,226,172.61 0.00
B3 1,731,467.36 0.00
B4 1,236,762.12 0.00
B5 1,217,364.34 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 446,094,506.80 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-19
------------------------------------------------------------
<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 0.00 6.500000% 12669AR22 0.000000 0.000000 0.000000
A2 171,685,826.22 6.500000% 12669AR30 4.867860 4.637512 851.288176
A3 131,586,635.23 6.500000% 12669AR48 4.370134 4.717178 866.493572
A4 24,997,271.85 6.500000% 12669AR55 5.004402 5.401815 992.253711
A5 13,261,563.00 6.508750% 12669AR63 0.000000 5.423958 1,000.000000
A6 8,487,400.00 7.000000% 12669AR71 0.000000 5.833333 1,000.000000
A7 5,289,000.00 6.500000% 12669AR89 0.000000 5.416667 1,000.000000
A8 7,395,000.00 6.500000% 12669AR97 0.000000 5.416667 1,000.000000
A9 755,000.00 6.500000% 12669AS21 0.000000 5.416667 1,000.000000
A10 4,700,000.00 6.750000% 12669AS39 0.000000 5.625000 1,000.000000
A11 4,700,000.00 6.250000% 12669AS47 0.000000 5.208333 1,000.000000
A12 3,713,237.00 5.325891% 12669AS54 0.000000 4.438243 1,000.000000
A13 50,000,000.00 6.500000% 12669AS62 0.000000 5.416667 1,000.000000
PO 280,322.15 0.000000% 12669AS70 1.381575 0.000000 982.401686
X 423,832,861.04 0.516294% 12669AS88 0.000000 0.383382 887.366491
Residual AR 0.00 6.500000% 12669AS96 0.000000 0.000000 0.000000
M 9,903,330.08 6.500000% 12669AT20 0.922587 5.362397 989.058384
B1 4,704,081.69 6.500000% 12669AT38 0.922587 5.362397 989.058384
B2 2,228,249.16 6.500000% 12669AT46 0.922587 5.362397 989.058382
B3 1,733,082.47 6.500000% 12669AU69 0.922587 5.362397 989.058383
B4 1,237,915.77 6.500000% 12669AU77 0.922587 5.362397 989.058385
B5 1,237,955.80 6.500000% 12669AU85 0.922532 5.362397 973.514210
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 447,895,870.43 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-19
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 446,094,506.50 446,094,506.50
Aggregated loan count 1281 1281
Aggregated average loan rate 7.254651% 7.25
Aggregated prepayment amount 970,499.23 970,499.23
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 93,080.70 93,080.70
Monthly sub servicer fees 4,166.51 4,166.51
Monthly trustee fees 3,359.22 3,359.22
Aggregate advances N/A N/A
Advances this periods 26,851.51 26,851.51
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 19,437.85 19,437.85
Cumulative losses (from Cut-Off) 19,437.85 19,437.85
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% 447,895,870.43
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 2,309,004.79
60 to 89 days 3 855,257.61
90 or more 0 0.00
Foreclosure 1 249,068.56
Totals: 12 3,413,330.96
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 433,166.58
Current Total Outstanding Number of Loans: 1
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 4,388,862.02 4,388,862.02
Principal remittance amount 1,781,925.78 1,781,925.78
Interest remittance amount 2,606,936.24 2,606,936.24
