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 1998-21)
(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 1998-21
On September 25, 1999, The Bank of New York, as Trustee for CWMBS, INC.,
Mortgage Pass-Through Certificates Series 1998-21, made a monthly distribution
to Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of November 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 1998-21 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 November 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 1998-21
------------------------------------------------------------
<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 102,102,146.87 6.500000% 1,002,977.18 553,053.30 1,556,030.47 0.00 0.00
A2 13,325,000.00 6.500000% 0.00 72,177.08 72,177.08 0.00 0.00
A3 1,166,000.00 6.750000% 0.00 6,558.75 6,558.75 0.00 0.00
A4 47,134,291.24 6.500000% 368,921.89 255,310.74 624,232.63 0.00 0.00
A5 29,978,000.00 6.500000% 0.00 162,380.83 162,380.83 0.00 0.00
A6 11,038,950.00 6.250000% 0.00 57,494.53 57,494.53 0.00 0.00
A7 4,876,950.00 6.750000% 0.00 27,432.84 27,432.84 0.00 0.00
A8 1,998,000.00 6.500000% 0.00 10,822.50 10,822.50 0.00 0.00
A9 1,998,000.00 7.000000% 0.00 11,655.00 11,655.00 0.00 0.00
A10 57,677,110.47 6.500000% 524,720.99 312,417.68 837,138.67 0.00 0.00
A11 1,000,000.00 6.750000% 0.00 5,625.00 5,625.00 0.00 0.00
PO 737,430.22 0.000000% 1,486.51 0.00 1,486.51 0.00 0.00
X 213,585,694.31 0.464254% 0.00 82,631.66 82,631.66 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
M 5,354,643.92 6.500000% 4,768.18 29,004.32 33,772.50 0.00 0.00
B1 2,826,061.85 6.500000% 2,516.54 15,307.84 17,824.38 0.00 0.00
B2 1,189,921.09 6.500000% 1,059.60 6,445.41 7,505.00 0.00 0.00
B3 1,041,181.20 6.500000% 927.15 5,639.73 6,566.88 0.00 0.00
B4 743,700.43 6.500000% 662.25 4,028.38 4,690.62 0.00 0.00
B5 744,402.01 6.500000% 662.87 4,032.18 4,695.05 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 284,931,789.33 - 1,908,703.15 1,622,017.78 3,530,720.93 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 101,099,169.70 0.00
A2 13,325,000.00 0.00
A3 1,166,000.00 0.00
A4 46,765,369.35 0.00
A5 29,978,000.00 0.00
A6 11,038,950.00 0.00
A7 4,876,950.00 0.00
A8 1,998,000.00 0.00
A9 1,998,000.00 0.00
A10 57,152,389.48 0.00
A11 1,000,000.00 0.00
PO 735,943.71 0.00
X 212,237,060.68 0.00
Residual AR 0.00 0.00
M 5,349,875.74 0.00
B1 2,823,545.31 0.00
B2 1,188,861.50 0.00
B3 1,040,254.06 0.00
B4 743,038.19 0.00
B5 743,739.14 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 283,023,086.18 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-21
------------------------------------------------------------
<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 102,102,146.87 6.500000% 12669AZ72 9.126852 5.032653 919.978249
A2 13,325,000.00 6.500000% 12669AZ80 0.000000 5.416667 1,000.000000
A3 1,166,000.00 6.750000% 12669AZ98 0.000000 5.625000 1,000.000000
A4 47,134,291.24 6.500000% 12669A2A1 7.378438 5.106215 935.307387
A5 29,978,000.00 6.500000% 12669A2B9 0.000000 5.416667 1,000.000000
A6 11,038,950.00 6.250000% 12669A2C7 0.000000 5.208333 1,000.000000
A7 4,876,950.00 6.750000% 12669A2D5 0.000000 5.625000 1,000.000000
A8 1,998,000.00 6.500000% 12669A2E3 0.000000 5.416667 1,000.000000
A9 1,998,000.00 7.000000% 12669A2F0 0.000000 5.833333 1,000.000000
A10 57,677,110.47 6.500000% 12669A2G8 8.497093 5.059150 925.499805
A11 1,000,000.00 6.750000% 12669A2H6 0.000000 5.625000 1,000.000000
PO 737,430.22 0.000000% 12669A2J2 1.956919 0.000000 968.835235
X 213,585,694.31 0.464254% 12669A2K9 0.000000 0.365895 939.791092
Residual AR 0.00 6.500000% 12669A3C6 0.000000 0.000000 0.000000
M 5,354,643.92 6.500000% 12669A2L7 0.883649 5.375140 991.449934
B1 2,826,061.85 6.500000% 12669A2M5 0.883649 5.375140 991.449934
B2 1,189,921.09 6.500000% 12669A2N3 0.883649 5.375140 991.449934
B3 1,041,181.20 6.500000% 12669A2P8 0.883649 5.375140 991.449934
B4 743,700.43 6.500000% 12669A2Q6 0.883649 5.375140 991.449934
B5 744,402.01 6.500000% 12669A2R4 0.883649 5.375140 991.449934
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 284,931,789.33 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1998-21
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 283,023,085.86 283,023,085.86
Aggregated loan count 804 804
Aggregated average loan rate 7.104531% 7.10
Aggregated prepayment amount 1,654,887.91 1,654,887.91
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 59,270.28 59,270.28
Monthly sub servicer fees 3,406.78 3,406.78
Monthly trustee fees 2,136.99 2,136.99
Aggregate advances N/A N/A
Advances this periods 17,616.63 17,616.63
- --------------------------------------------------------------------------------
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% 284,931,789.33
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 5 1,374,513.60
60 to 89 days 1 243,062.37
90 or more 0 0.00
Foreclosure 1 920,663.87
Totals: 7 2,538,239.84
- --------------------------------------------------------------------------------
<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 3,530,720.93 3,530,720.93
Principal remittance amount 1,908,703.15 1,908,703.15
Interest remittance amount 1,622,017.78 1,622,017.78
