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): February 25, 2000
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-2)
(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 1999-2
On February 25, 2000, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-2, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of February 1, 1999, 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 1999-2 relating to the distribution date
of February 25, 2000 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of February 1, 1999.
<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: February 25, 2000
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 February 25, 2000
Payment Date: 02/25/00
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-2
------------------------------------------------------------
<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 17,804,483.57 6.000000% 196,099.03 89,022.42 285,121.45 0.00 0.00
A2 712,179.34 6.250000% 0.00 3,709.27 3,709.27 0.00 0.00
A3 98,655,641.51 6.250000% 477,297.74 513,831.47 991,129.20 0.00 0.00
A4 8,546,000.00 6.250000% 0.00 44,510.42 44,510.42 0.00 0.00
A5 38,491,490.04 6.250000% 142,811.95 200,476.51 343,288.47 0.00 0.00
A6 62,315,706.01 6.250000% 686,346.75 324,560.97 1,010,907.71 0.00 0.00
PO 422,082.12 0.000000% 2,020.10 0.00 2,020.10 0.00 0.00
X 178,475,531.78 0.377833% 0.00 56,194.96 56,194.96 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M 1,810,543.46 6.250000% 6,717.52 9,429.91 16,147.43 0.00 0.00
B1 1,205,745.93 6.250000% 4,473.58 6,279.93 10,753.51 0.00 0.00
B2 603,354.11 6.250000% 2,238.58 3,142.47 5,381.05 0.00 0.00
B3 843,925.92 6.250000% 3,131.15 4,395.45 7,526.60 0.00 0.00
B4 481,143.63 6.250000% 1,785.15 2,505.96 4,291.11 0.00 0.00
B5 482,987.58 6.250000% 1,791.96 2,515.56 4,307.52 0.00 0.00
AR 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 231,663,103.86 - 1,524,713.51 1,260,575.28 2,785,288.79 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 17,608,384.54 0.00
A2 704,335.38 0.00
A3 98,178,343.77 0.00
A4 8,546,000.00 0.00
A5 38,348,678.08 0.00
A6 61,629,359.26 0.00
PO 420,062.02 0.00
X 177,184,945.80 0.00
- --------------------------------------------------------------------------------
Subordinate M 1,803,825.95 0.00
B1 1,201,272.34 0.00
B2 601,115.53 0.00
B3 840,794.77 0.00
B4 479,358.48 0.00
B5 481,195.62 0.00
AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 230,138,390.35 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/00
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-2
------------------------------------------------------------
<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 17,804,483.57 6.000000% 12669A7F5 9.804951 4.451121 880.419227
A2 712,179.34 6.250000% 12669A7G3 0.000000 4.636584 880.419227
A3 98,655,641.51 6.250000% 12669A7H1 4.502554 4.847192 926.158366
A4 8,546,000.00 6.250000% 12669A7J7 0.000000 5.208333 1,000.000000
A5 38,491,490.04 6.250000% 12669A7K4 3.570299 5.011913 958.716952
A6 62,315,706.01 6.250000% 12669A7L2 9.804954 4.636585 880.419418
PO 422,082.12 0.000000% 12669A7M0 4.400234 0.000000 914.988387
X 178,475,531.78 0.377833% 12669A7N8 0.000000 0.290364 915.530055
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M 1,810,543.46 6.250000% 12669A7Q1 3.570299 5.011913 958.716952
B1 1,205,745.93 6.250000% 12669A7R9 3.570299 5.011913 958.716952
B2 603,354.11 6.250000% 12669A7S7 3.570299 5.011913 958.716952
B3 843,925.92 6.250000% 12669BAL6 3.570299 5.011913 958.716952
B4 481,143.63 6.250000% 12669BAM4 3.570299 5.011913 958.716952
B5 482,987.58 6.250000% 12669BAN2 3.570240 5.011915 958.717436
AR 0.00 6.250000% 12669A7P3 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 231,663,103.86 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-2
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 230,138,394.05 230,138,394.05
Aggregated loan count 680 680
Aggregated average loan rate 6.791038% 6.79
Aggregated prepayment amount 665,117.80 665,117.80
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 47,917.17 47,917.17
Monthly sub servicer fees 451.60 451.60
Monthly trustee fees 1,737.47 1,737.47
Aggregate advances N/A N/A
Advances this periods 15,832.73 15,832.73
- --------------------------------------------------------------------------------
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 2,506,516.07 2,506,516.07
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 97.665561% 100.000000% 226,235,403.24
-----------------------------------------------------------------------------
Junior 2.334439% 0.000000% 5,407,562.68
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 2 787,795.73
60 to 89 days 1 68,415.41
90 or more 1 537,826.39
Foreclosure 1 254,896.32
Totals: 5 1,648,933.85
- --------------------------------------------------------------------------------
<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 2,785,288.79 2,785,288.79
Principal remittance amount 1,524,713.51 1,524,713.51
Interest remittance amount 1,260,575.28 1,260,575.28
