424B5
SUPPLEMENT
TO PROSPECTUS SUPPLEMENT DATED October 26, 1998
(To Prospectus dated August 14, 1998)
CWMBS, INC.
Depositor
Countrywide
Home Loans, Inc.
Seller and Master Servicer
Mortgage Pass-Through Certificates, Series 1998-19
------------
The Class A-3 Certificates
----------------------------
The Class A-3 o This supplement relates to the offering
certificates represent of the Class A-3 certificates of the
obligations of the trust series referenced above. This supplement
only and do not does not contain complete information
represent an interest in about the offering of the Class A-3
or obligation of certificates. Additional information is
CWMBS, Inc., contained in the prospectus supplement
Countrywide Home dated October 26, 1998 prepared in
Loans, Inc. or any of connection with the offering of the
their affiliates. offered certificates of the series
referenced above and in the prospectus of
This supplement may the depositor dated August 14, 1998. You
be used to offer and sell are urged to read this supplement, the
the offered certificates prospectus supplement and the prospectus
only if accompanied by in full.
the prospectus
supplement and the o As of the December 26, 2000, the class
prospectus. certificate balance of the Class A-3
certificates was approximately
---------------------------- $114,450,187.14.
Neither the SEC nor any state securities commission has approved these
securities or determined that this supplement, the prospectus supplement or
the prospectus is accurate or complete. Any representation to the contrary is
a criminal offense.
This supplement is to be used by Countrywide Securities Corporation, an
affiliate of CWMBS, Inc. and Countrywide Home Loans, Inc., in connection with
offers and sales relating to market making transactions in the Class A-3
certificates in which Countrywide Securities Corporation acts as principal.
Countrywide Securities Corporation may also act as agent in such transactions.
Sales will be made at prices related to the prevailing prices at the time of
sale.
December 29, 2000
<PAGE>
THE MORTGAGE POOL
As of December 1, 2000 (the "Reference Date"), the Mortgage Pool
included approximately 1,175 Mortgage Loans having an aggregate Stated
Principal Balance of approximately $401,856,412.
The following table summarizes the delinquency and foreclosure
experience of the Mortgage Loans as of the Reference Date.
As of December 1,
2000
Total Number of Mortgage Loans..................... 1,175
Delinquent Mortgage Loans and Pending Foreclosures
at Period End (1)
30-59 days..................................... 1.10%
60-90 days..................................... 0.17%
91 days or more (excluding pending
foreclosures).................................. 0.08%
-----
Total Delinquencies............................ 1.35%
=====
Foreclosures Pending............................... 0.00%
-----
Total Delinquencies and foreclosures pending....... 1.35%
=====
--------------
(1) As a percentage of the total number of Mortgage Loans as of the
Reference Date.
Certain information as to the Mortgage Loans as of the Reference Date
is set forth in Exhibit 1 in tabular format. Other than with respect to rates
of interest, percentages (approximate) are stated in such tables by Stated
Principal Balance of the Mortgage Loans as of the Reference Date and have been
rounded in order to total 100.00%.
SERVICING OF MORTGAGE LOANS
The Master Servicer
Countrywide Home Loans, Inc. will continue to act as Master Servicer
under the Agreement.
Foreclosure and Delinquency Experience
The following table summarizes the delinquency, foreclosure and loss
experience, respectively, on the dates indicated, of all mortgage loans
originated or acquired by Countrywide Home Loans, Inc., serviced or master
serviced by the Master Servicer and securitized by the Depositor. The
delinquency, foreclosure and loss percentages may be affected by the size and
relative lack of seasoning of such servicing portfolio which increased from
approximately $8.671 billion at February 28, 1997, to approximately $11.002
billion at February 28, 1998, to approximately $15.381 billion at February 28,
1999, to approximately $16.801 billion at February 29, 2000 and to
approximately $18.398 billion at August 31, 2000. Accordingly, the information
should not be considered as a basis for assessing the likelihood, amount or
severity of delinquency or losses on the Mortgage Loans and no assurances can
be given that the foreclosure, delinquency and loss experience presented in
the table below will be indicative of such experience on the Mortgage Loans:
<TABLE>
<CAPTION>
At February 28, (29), Period
Ended
August 31,
1997 1998 1999 2000 2000
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Delinquent Mortgage Loans
and Pending Foreclosures
at Period End:
30-59 days.............. 0.65% 1.08% 1.03% 1.37% 1.33%
60-89 days.............. 0.15 0.16 0.18 0.22 0.26
90 days or more
(excluding pending
foreclosures)...... 0.16 0.16 0.12 0.16 0.17
---- ---- ---- ---- ----
Total of delinquencies.. 0.96% 1.40% 1.33% 1.75% 1.73%
==== ==== ==== ==== ====
Foreclosures pending............. 0.17% 0.17% 0.14% 0.16 0.23
==== ==== ==== ==== ====
Total delinquencies and
foreclosures pending........ 1.13% 1.57% 1.47% 1.92% 1.79%
==== ==== ==== ==== ====
Net Gains/(Losses) on liquidated
loans (1) .................. $(2,812,000) $(2,662,000) $(3,704,605) $(3,076,240) $(728,502)
Percentage of Net Gains/(Losses)
on liquidated loans (1)(2) . (0.032)% (0.024)% (0.028)% (0.017)% (0.004)%
Percentage of Net Gains/(Losses)
on liquidated loans (based
on average outstanding
principal balance)(1) ...... (0.033)% (0.027)% (0.028)% (0.018)% (0.004)%
</TABLE>
-----------------
(1) "Net Gains (Losses)" are actual gains or losses incurred on liquidated
properties which are calculated as net liquidation proceeds less book
value (excluding loan purchase premium or discount).
(2) Based upon the total principal balance of the mortgage loans outstanding
on the last day of the indicated period.
The following table summarizes the delinquency and foreclosure
experience, respectively, on the dates indicated, on all mortgage loans
serviced or master serviced by the Master Servicer. Such mortgage loans have a
variety of underwriting, payment and other characteristics, many of which
differ from those of the Mortgage Loans, and no assurances can be given that
the delinquency and foreclosure experience presented in the table below will
be indicative of such experience of the Mortgage Loans. The delinquency and
foreclosure percentages may be affected by the size and relative lack of
seasoning of such servicing portfolio which increased from approximately
$158.6 billion at February 28, 1997, to approximately $182.9 billion at
February 28, 1998, to approximately $215.5 billion at February 28, 1999, to
approximately $249.0 billion at February 29, 2000 and to approximately $261.8
billion at August 31, 2000.
<TABLE>
<CAPTION>
At February 28, (29), Period Ended
August 31,
1997 1998 1999 2000 2000
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Delinquent Mortgage Loans and
Pending Foreclosures at
Period End:
30-59 days................. 2.26% 2.68% 3.05% 3.40% 3.62%
60-89 days................. 0.52 0.58 0.21 0.25 0.31
90 days or more (excluding
pending foreclosures). 0.66 0.65 0.29 0.32 0.80
---- ---- ---- ---- ----
Total of delinquencies..... 3.44% 3.91% 3.55% 3.97% 4.42%
==== ==== ==== ==== ====
Foreclosures pending....... 0.71% 0.45% 0.31% 0.39% 0.42%
==== ==== ==== ==== ====
Total delinquencies and
foreclosures pending.. 4.15% 4.36% 3.86% 4.36% 4.84%
==== ==== ==== ==== ====
</TABLE>
DESCRIPTION OF THE CLASS A-3 CERTIFICATES
The Class A-3 Certificates will be entitled to receive interest in
the amount of the Interest Distribution Amount for such Class as described in
the Prospectus Supplement under "Description of the Certificates -- Interest".
The Class A-3 Certificates are allocated principal payments as described in
the Prospectus Supplement under "Description of the Certificates --
Principal".
As of December 26, 2000 (the "Certificate Date"), the Class
Certificate Balance of the Class A-3 Certificates was approximately
$114,450,187.14 evidencing a beneficial ownership interest of approximately
28.48% in the Trust Fund. As of the Certificate Date, the Senior Certificates
had an aggregate principal balance of approximately $381,108,627.59 and
evidenced in the aggregate, a beneficial ownership interest of approximately
94.84% in the Trust Fund. As of the Certificate Date, the Subordinated
Certificates had an aggregate principal balance of $20,747,784.73 and
evidenced in the aggregate, a beneficial ownership interest of approximately
5.16% in the Trust Fund. For additional information with respect to the Class
A-3 Certificates, see "Description of the Certificates" in the Prospectus
Supplement.
Reports to Certificateholders
The most recent monthly statement that has been furnished to
Certificateholders of record on the most recent Distribution Date is included
herein as Exhibit 2.
Revised Structuring Assumptions
Unless otherwise specified, the information in the tables appearing
in this Supplement under "Yield, Prepayment and Maturity Considerations --
Decrement Table" has been prepared on the basis of the following assumed
characteristics of the Mortgage Loans and the following additional assumptions
(collectively, the "Revised Structuring Assumptions"): (i) the Mortgage Loans
consist of two Mortgage Loans with the following characteristics:
<TABLE>
<CAPTION>
Original Term to Remaining Term to
Principal Balance Mortgage Rate Net Mortgage Rate Maturity (in months) Maturity (in months)
----------------------- -------------------- -------------------- ---------------------- --------------------
<S> <C> <C> <C> <C>
$379,155,114.87 7.269094184 7.000397457 358 332
$22,701,297.03 6.688349054 6.424875541 360 334
</TABLE>
(ii) the Mortgage Loans prepay at the specified constant percentages of SPA
(as defined below), (iii) no defaults in the payment by Mortgagors of
principal of any interest on the Mortgage Loans are experienced, (iv)
scheduled payments on the Mortgage Loans are received on the first day of each
month commencing in the calendar month following the Reference Date and are
computed prior to giving effect to prepayments received on the last day of the
prior month, (v) prepayments are allocated as described herein without giving
effect to loss and delinquency tests, (vi) there are no Net Interest
Shortfalls and prepayments represent prepayments in full of individual
Mortgage Loans and are received on the last day of each month, commencing in
the calendar month of the Reference Date, (vii) the scheduled monthly payment
for each Mortgage Loan has been calculated based on the assumed Mortgage Loan
characteristics set forth in clause (i) above such that each Mortgage Loan
will amortize in amounts sufficient to repay the balance of such Mortgage Loan
by its indicated remaining term to maturity, (viii) the Class Certificate
Balance of the Class A-3 Certificates is $115,542,393.30, (ix) interest
accrues on the Class A-3 Certificates at the applicable interest rate
described in the Prospectus Supplement, (x) distributions in respect of the
Certificates are received in cash on the 25th day of each month commencing in
the calendar month following the Reference Date, (xi) the closing date of the
sale of the Class A-3 Certificates is December 29, 2000, (xii) the Seller is
not required to repurchase or substitute for any Mortgage Loan, (xiii) the
Master Servicer does not exercise the option to repurchase the Mortgage Loans
described in the Prospectus Supplement under the headings "--Optional Purchase
of Defaulted Loans" and "--Optional Termination" and (xiv) no Class of
Certificates become a Restricted Class. While it is assumed that each of the
Mortgaged Loans prepays at the specified constant percentages of SPA, this is
not likely to be the case. Moreover, discrepancies will exist between the
characteristics of the actual Mortgage Loans as of the Reference Date and
characteristics of the Mortgage Loans assumed in preparing the tables herein.
Prepayments of mortgage loans commonly are measured relative to a
prepayment standard or model. The model used in this Supplement is the
Standard Prepayment Assumption ("SPA"), which represents an assumed rate of
prepayment each month of the then outstanding principal balance of a pool of
new mortgage loans. SPA does not purport to be either an historical
description of the prepayment experience of any pool of mortgage loans or a
prediction of the anticipated rate of prepayment of any pool of mortgage
loans, including the Mortgage Loans. 100% SPA assumes prepayment rates of 0.2%
per annum of the then unpaid principal balance of such pool of mortgage loans
in the first month of the life of such mortgage loans and an additional 0.2%
per annum in each month thereafter (for example, 0.4% per annum in the second
month) until the 30th month. Beginning in the 30th month and in each month
thereafter during the life of such mortgage loans, 100% SPA assumes a constant
prepayment rate of 6.0% per annum. Multiples may be calculated from this
prepayment rate sequence. For example, 275% SPA assumes prepayment rates will
be 0.55% per annum in month one, 1.1% per annum in month two, and increasing
by 0.55% in each succeeding month until reaching a rate of 16.5% per annum in
month 30 and remaining constant at 16.5% per annum thereafter. 0% SPA assumes
no prepayments. There is no assurance that prepayments will occur at any SPA
rate or at any other constant rate.
YIELD, PREPAYMENT AND MATURITY CONSIDERATIONS
Decrement Table
The following table indicates the percentage of the Certificate Date
Class Certificate Balance of the Class A-3 Certificates that would be
outstanding after each of the dates shown at various constant percentages of
SPA and the corresponding weighted average life thereof. The table has been
prepared based on the Revised Structuring Assumptions. However, all of the
Mortgage Loans may not have the interest rates or remaining terms to maturity
described under "Revised Structuring Assumptions" herein and the Mortgage
Loans may not prepay at the indicated constant percentages of SPA or at any
constant percentage.
<TABLE>
<CAPTION>
Percent of Class Certificate
Balance Outstanding*
Class A-3
Percentages of SPA
Distribution Date 0% 100% 275% 400% 500%
----------------- -- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Initial Percent.................. 76 76 75 74 74
December 25, 2001................ 75 69 58 50 44
December 25, 2002................ 74 62 44 32 23
December 25, 2003................ 73 56 32 18 9
December 25, 2004................ 71 51 23 9 1
December 25, 2005................ 70 46 17 3 0
December 25, 2006................ 68 41 12 0 0
December 25, 2007................ 67 37 8 0 0
December 25, 2008................ 65 34 5 0 0
December 25, 2009................ 63 30 3 0 0
December 25, 2010................ 61 27 1 0 0
December 25, 2011................ 59 24 0 0 0
December 25, 2012................ 57 21 0 0 0
December 25, 2013................ 55 19 0 0 0
December 25, 2014................ 52 16 0 0 0
December 25, 2015................ 49 14 0 0 0
December 25, 2016................ 46 12 0 0 0
December 25, 2017................ 43 10 0 0 0
December 25, 2018................ 40 8 0 0 0
December 25, 2019................ 36 6 0 0 0
December 25, 2020................ 32 4 0 0 0
December 25, 2021................ 28 2 0 0 0
December 25, 2022................ 24 1 0 0 0
December 25, 2023................ 19 0 0 0 0
December 25, 2024................ 14 0 0 0 0
December 25, 2025................ 9 0 0 0 0
December 25, 2026................ 3 0 0 0 0
December 25, 2027................ 0 0 0 0 0
December 25, 2028................ 0 0 0 0 0
- - - - -
Weighted Average Life (years) **. 17.0 8.3 3.2 2.0 1.5
</TABLE>
--------------------------
* Rounded to the nearest whole percentage.
** Determined as specified under "Weighted Average Lives of
the Offered Certificates" in the Prospectus Supplement.
CREDIT ENHANCEMENT
As of the Reference Date, the Special Hazard Loss Coverage Amount,
Bankruptcy Loss Coverage Amount and Fraud Loss Coverage Amount were
approximately $0 and $0 and $0, respectively.
CERTAIN FEDERAL INCOME TAX CONSEQUENCES
Prospective investors should consider carefully the income tax
consequences of an investment in the Class A-3 Certificates discussed under
the sections titled "Certain Federal Income Tax Consequences" in the
Prospectus Supplement and the Prospectus, which the following discussion
supplements. Prospective investors should consult their tax advisors with
respect to those consequences.
Final regulations dealing with backup withholding and information
reporting on income paid to foreign persons and related matters (the "New
Withholding Regulations") were published in the Federal Register on October
14, 1997. In general, the New Withholding Regulations do not significantly
alter the substantive withholding and information reporting requirements, but
do unify current certification procedures and forms and clarify reliance
standards. The New Withholding Regulations generally will be effective for
payments made after December 31, 2000, subject to certain transition rules.
ERISA CONSIDERATIONS
Prospective purchasers of the Class A-3 Certificates should consider
carefully the ERISA consequences of an investment in such Certificates
discussed under "ERISA Considerations" in the Prospectus, the Prospectus
Supplement and herein, and should consult their own advisors with respect to
those consequences. As described in the Prospectus Supplement, it is expected
that the Exemptions will apply to the acquisition and holding of Class A-3
Certificates by Plans and that all conditions of the Exemptions other than
those within the control of purchasers of the Certificates will be met.
RATINGS
The Class A-3 Certificates are currently rated "AAA" by Duff & Phelps
Credit Rating Company and Standard & Poor's, a division of The McGraw-Hill
Companies, Inc. See "Ratings" in the Prospectus Supplement.
METHOD OF DISTRIBUTION
The Supplement is to be used by Countrywide Securities Corporation,
an affiliate of CWMBS, Inc. and Countrywide Home Loans, Inc., in connection
with offers and sales relating to market making transactions in the Class A-3
Certificates in which Countrywide Securities Corporation acts as principal.
Countrywide Securities Corporation may also act as agent in such transactions.
Sales will be made at prices relating to the prevailing prices at the time of
sale.
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT 1
Mortgage Rates (1)
--------------------------------------------------------------------------------------------------------
Mortgage Rates (%) Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
6.375 1 $350,340.07 0.09
6.5 10 $3,689,370.70 0.92
6.625 10 $3,463,063.87 0.86
6.75 44 $15,082,460.06 3.75
6.875 108 $37,229,275.09 9.26
7 224 $75,717,704.06 18.84
7.125 143 $49,802,844.02 12.39
7.25 192 $66,030,685.26 16.43
7.375 158 $53,633,260.63 13.35
7.5 119 $42,076,076.70 10.47
7.625 56 $17,286,210.94 4.3
7.75 60 $21,715,070.98 5.4
7.875 28 $9,370,815.85 2.33
8 7 $1,990,176.10 0.5
8.125 4 $1,017,782.65 0.25
8.25 8 $2,501,301.21 0.62
8.375 1 $358,630.85 0.09
8.5 2 $541,342.86 0.13
--------------------------------------------------------------
Total 1,175 $401,856,411.90 100
==============================================================
(1) The Lender PMI Mortgage Loans are shown at the Mortgage Rates
net of the interest premium charged by the related lenders. As of
the Reference Date, the weighted average Mortgage Rate of the
Mortgage Loans (as so adjusted) is approximately 6.977%. Without
such adjustment, the weighted average Mortgage Rate of the
Mortgage Loans is approximately 7.297% per annum.
Current Mortgage Loan Principal Balances (1)
--------------------------------------------------------------------------------------------------------
Current Mortgage Loan Amounts Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
$ 0.00 to $ 50,000 1 $38,319.08 0.01
$ 50,000.01 to $100,000 8 $586,836.68 0.15
$100,000.01 to $150,000 13 $1,571,285.25 0.39
$150,000.01 to $200,000 12 $2,129,372.53 0.53
$200,000.01 to $250,000 199 $47,442,536.15 11.81
$250,000.01 to $300,000 355 $97,135,634.36 24.17
$300,000.01 to $350,000 205 $66,105,613.14 16.45
$350,000.01 to $400,000 144 $53,704,130.68 13.36
$400,000.01 to $450,000 72 $30,459,061.59 7.58
$450,000.01 to $500,000 60 $28,696,716.78 7.14
$500,000.01 to $550,000 24 $12,593,032.89 3.13
$550,000.01 to $600,000 23 $13,244,893.35 3.3
$600,000.01 to $650,000 17 $10,587,609.73 2.63
$650,000.01 to $700,000 6 $4,065,128.99 1.01
$700,000.01 to $750,000 6 $4,338,737.06 1.08
$750,000.01 to $1,000,000 28 $24,735,304.76 6.16
$1,500,000.01 to $2,000,000 1 $1,978,093.43 0.49
> $2,000,000 1 $2,444,105.45 0.61
--------------------------------------------------------------
Total 1,175 $401,856,411.90 100
==============================================================
</TABLE>
(1) As of the Reference Date, the average current Mortgage Loan
principal balance is approximately $342,005.00.
<PAGE>
<TABLE>
<CAPTION>
Documentation Program for Mortgage Loans
---------------------------------------------------------------------------------------------------------
Type of Program Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Full/Alternative 853 $291,723,972.34 72.59
Reduced 172 $59,851,730.51 14.89
No Income/No Asset 1025 $351,575,702.85 87.48
Streamlined 26 $8,688,096.52 2.16
--------------------------------------------------------------
Total 1,175 $401,856,411.90 100
==============================================================
Types of Mortgaged Properties
Property Type Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
Single Family 844 $289,779,358.11 72.11
Condominium 32 $10,830,531.31 2.7
High Rise Condo 2 $692,211.47 0.17
2-4 Family 25 $8,185,717.62 2.04
Planned Unit Development 272 $92,368,593.39 22.99
Total 1,175 $401,856,411.90 100
Original Loan-to-Value Ratios (1)
Original Loan-to-Value Ratios (%) Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
0.01-50 67 $26,752,601.73 6.66
50.01-55 29 $12,770,312.19 3.18
55.01-60 42 $16,980,370.52 4.23
60.01-65 63 $26,994,959.66 6.72
65.01-70 109 $42,371,076.18 10.54
70.01-75 160 $54,698,567.47 13.61
75.01-80 616 $196,296,226.36 48.85
80.01-85 7 $2,103,538.93 0.52
85.01-90 56 $16,217,923.69 4.04
90.01-95 26 $6,670,835.17 1.66
--------------------------------------------------------------
1,175 $401,856,411.90 100
==============================================================
(1) The weighted average Reference Loan-to-Value Ratio of the Mortgage
Loans is approximately 67.21%.
Occupancy Types (1)
---------------------------------------------------------------------------------------------------------
Occupancy Type Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
---------------------------------------------------------------------------------------------------------
Primary Residence 1,127 $387,221,935.97 96.36
Investor Property 22 $6,254,973.45 1.56
Second Residence 26 $8,379,502.48 2.09
--------------------------------------------------------------
Total 1,175 $401,856,411.90 100
==============================================================
(1) Based Upon representations of the related mortgagors at the time of origination.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
State Distributions of Mortgaged Properties
---------------------------------------------------------------------------------------------------------
State Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Alaska 2 $870,439.16 0.22
Alabama 5 $1,428,692.73 0.36
Arkansas 2 $634,908.22 0.16
Arizona 11 $2,718,050.96 0.68
California 569 $201,537,629.88 50.15
Colorado 67 $26,710,649.09 6.65
Connecticut 11 $4,331,764.23 1.08
District of Columbia 1 $267,490.32 0.07
Florida 24 $6,418,005.57 1.6
Georgia 31 $9,858,329.28 2.45
Hawaii 15 $5,540,768.74 1.38
Iowa 2 $484,995.96 0.12
Idaho 1 $687,371.70 0.17
Illinois 31 $9,719,856.78 2.42
Indiana 7 $2,519,525.44 0.63
Kansas 4 $1,010,185.14 0.25
Kentucky 1 $274,153.21 0.07
Louisiana 3 $989,158.18 0.25
Massachusetts 32 $11,545,763.84 2.87
Maryland 24 $6,597,388.58 1.64
Michigan 30 $9,566,890.92 2.38
Minnesota 9 $3,171,535.09 0.79
Missouri 10 $3,215,094.79 0.8
Montana 2 $605,762.20 0.15
North Carolina 8 $3,224,891.90 0.8
New England 1 $420,735.37 0.1
New Hampshire 2 $664,268.61 0.17
New Jersey 36 $10,648,229.60 2.65
New Mexico 6 $1,543,477.75 0.38
Nevada 4 $2,056,969.87 0.51
New York 13 $4,437,030.18 1.1
Ohio 5 $2,118,356.15 0.53
Oklahoma 4 $1,015,110.66 0.25
Oregon 7 $2,051,951.25 0.51
Pennsylvania 24 $8,120,490.42 2.02
Rhode Island 2 $574,574.04 0.14
South Carolina 4 $784,431.02 0.2
Tennessee 11 $3,874,558.30 0.96
Texas 61 $19,483,650.58 4.85
Utah 17 $5,627,048.05 1.4
Virginia 28 $8,381,470.48 2.09
Washington 34 $11,033,963.42 2.75
Wisconsin 3 $966,115.49 0.24
Wyoming 11 $4,124,678.75 1.03
---------------------------------------------------------------
Total 1175 $401,856,411.90 100
===============================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Remaining Terms to Maturity (1)
---------------------------------------------------------------------------------------------------------
Remaining Term to Maturity (Months) Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
214 4 $1,078,143.83 0.27
273 3 $823,907.70 0.21
274 7 $2,601,202.60 0.65
285 1 $352,895.63 0.09
313 1 $329,984.84 0.08
325 2 $786,365.06 0.2
327 3 $777,256.02 0.19
328 4 $1,233,307.18 0.31
329 10 $4,229,197.17 1.05
330 12 $4,046,207.99 1.01
331 15 $4,779,718.52 1.19
332 50 $16,756,292.53 4.17
333 366 $132,945,635.19 33.08
334 684 $226,310,682.58 56.32
335 8 $2,731,359.33 0.68
---------------------------------------------------------------
1175 $401,856,411.90 100
===============================================================
</TABLE>
(1) As of the Reference Date, the weighted average remaining term to
maturity of the Mortgage Loans is approximately 149 months.
<TABLE>
<CAPTION>
Purpose of Mortgage Loans
---------------------------------------------------------------------------------------------------------
Loan Purpose Number of Aggregate Principal Balance Percent of
Mortgage Outstanding Mortgage Pool
Loans (%)
---------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Purchase 661 $220,566,277.24 54.89
Construction 4 $1,146,812.64 0.29
Construction to Permanent 16 $6,935,151.11 1.73
Refinance (rate/term) 336 $120,259,276.93 29.93
Refinance (cash out) 158 $52,948,893.98 13.18
---------------------------------------------------------------
1,175 $401,856,411.90 100
===============================================================
</TABLE>
EXHIBIT 2
Payment Date: 12/25/00
------------------------------------------------------------
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 147,967,586.54 6.500000% 1,614,611.03 801,491.09 2,416,102.13 0.00 0.00
A3 115,542,393.40 6.500000% 1,092,206.26 625,854.63 1,718,060.89 0.00 0.00
A4 21,949,376.65 6.500000% 207,484.42 118,892.46 326,376.88 0.00 0.00
A5 13,261,563.00 7.717500% 0.00 85,288.43 85,288.43 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 1.008927% 0.00 3,121.99 3,121.99 0.00 0.00
A13 50,000,000.00 6.500000% 0.00 270,833.33 270,833.33 0.00 0.00
PO 262,805.42 0.000000% 432.71 0.00 432.71 0.00 0.00
X 382,056,151.48 0.502015% 0.00 159,831.56 159,831.56 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
M 9,782,508.38 6.500000% 9,827.99 52,988.59 62,816.58 0.00 0.00
B1 4,646,691.38 6.500000% 4,668.30 25,169.58 29,837.88 0.00 0.00
B2 2,201,064.28 6.500000% 2,211.30 11,922.43 14,133.73 0.00 0.00
B3 1,711,938.67 6.500000% 1,719.90 9,273.00 10,992.90 0.00 0.00
B4 1,222,813.04 6.500000% 1,228.50 6,623.57 7,852.07 0.00 0.00
B5 1,203,634.16 6.500000% 1,209.19 6,519.69 7,728.88 0.00 0.00
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Totals - - 404,792,011.92 - 2,935,599.60 2,351,031.43 5,286,631.03 - -
----------------------------------------------------------------------------------------------------------------------------------
Class Information
--------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
--------------------------------------------------------------------------------
Senior A1 0.00 0.00
A2 146,352,975.51 0.00
A3 114,450,187.14 0.00
A4 21,741,892.23 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 262,372.71 0.00
X 379,155,114.83 0.00
Residual AR 0.00 0.00
M 9,772,680.39 0.00
B1 4,642,023.08 0.00
B2 2,198,852.98 0.00
B3 1,710,218.77 0.00
B4 1,221,584.54 0.00
B5 1,202,424.97 0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Totals - - 401,856,412.32 -
--------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/00
------------------------------------------------------------
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 147,967,586.54 6.500000% 12669AR30 8.051678 3.996844 729.827186
A3 115,542,393.40 6.500000% 12669AR48 7.228415 4.142017 757.451652
A4 21,949,376.65 6.500000% 12669AR55 8.277524 4.743176 867.385791
A5 13,261,563.00 7.717500% 12669AR63 0.000000 6.431250 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 1.008927% 12669AS54 0.000000 0.840772 1,000.000000
A13 50,000,000.00 6.500000% 12669AS62 0.000000 5.416667 1,000.000000
PO 262,805.42 0.000000% 12669AS70 1.518581 0.000000 920.790168
X 382,056,151.48 0.502015% 12669AS88 0.000000 0.336035 797.147220
Residual AR 0.00 6.500000% 12669AS96 0.000000 0.000000 0.000000
M 9,782,508.38 6.500000% 12669AT20 0.982450 5.296975 976.920646
B1 4,646,691.38 6.500000% 12669AT38 0.982450 5.296975 976.920645
B2 2,201,064.28 6.500000% 12669AT46 0.982450 5.296975 976.920643
B3 1,711,938.67 6.500000% 12669AU69 0.982450 5.296975 976.920642
B4 1,222,813.04 6.500000% 12669AU77 0.982450 5.296975 976.920633
B5 1,203,634.16 6.500000% 12669AU85 0.966977 5.213728 961.567340
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Totals - - 404,792,011.92 - - - - -
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-19
------------------------------------------------------------
--------------------------------------------------------------------------------
COLLATERAL INFORMATION
--------------------------------------------------------------------------------
Total
-----
Prin balance 401,856,411.90 401,856,411.90
Loan count 1183 1183
Avg loan rate 7.237940% 7.24
Prepay amount 2,528,891.29 2,528,891.29
--------------------------------------------------------------------------------
FEES AND ADVANCES
--------------------------------------------------------------------------------
Total
-----
Master serv fees 82,108.72 82,108.72
Sub servicer fees 3,151.23 3,151.23
Trustee fees 3,035.94 3,035.94
Agg advances N/A N/A
Adv this period 31,318.42 31,318.42
--------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
--------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00
Cumulative losses 19,470.56 19,470.56
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% 404,792,011.92
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
--------------------------------------------------------------------------------
DELINQUENCY INFORMATION
--------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
30 to 59 days 13 3,546,637.28
60 to 89 days 2 450,723.22
90 or more 1 431,560.75
Foreclosure 1 38,355.10
Totals: 17 4,467,276.35
--------------------------------------------------------------------------------
<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 5,286,631.03 5,286,631.03
Principal remittance amount 2,935,599.60 2,935,599.60
Interest remittance amount 2,351,031.43 2,351,031.43
