UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended: December 31, 1999
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OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from _________ to ________
Commission file number: 333-53861-24
CWMBS, Inc.
Mortgage Pass-Through Certificates, Series 1999-4
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(Exact name of Registrant as specified in its charter)
Delaware 95-4449516
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(State or other jurisdiction of (IRS Employer Identification Number)
incorporation or organization)
c/o The Bank of New York
101 Barclay Street
New York, New York 10286
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 815-2007
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
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- -
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days. Yes X No
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Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (SS.229.405 of this chapter) is not
contained herein, and will not be contained, to the best of
Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]
State the aggregate market value of the voting and non-voting common equity
held by non-affiliates of the Registrant: Not applicable
Indicate the number of shares outstanding of each of the registrant's classes
of common stock, as of December 31, 1999: Not applicable
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DOCUMENTS INCORPORATED BY REFERENCE
None.
* * *
This Annual Report on Form 10-K (the "Report") is filed with
respect to the trust fund entitled CHL Mortgage Pass-Through Trust
1999-4 (the "Trust Fund") formed pursuant to the pooling and
servicing agreement dated as of March 1, 1999 (the "Pooling and Servicing
Agreement") among CWMBS, Inc., as depositor (the "Company"),
Countrywide Home Loans, Inc., as seller and master servicer (the
"Master Servicer"), and The Bank of New York, as trustee (the
"Trustee"), for the issuance of CWMBS, Inc., Mortgage Pass-Through
Certificates, Series 1999-4 (the "Certificates"). Certain
information otherwise required to be included in this Report by the
Instructions to Form 10-K has been omitted in reliance on the relief
granted to the Company in CWMBS, Inc. (February 3, 1994) (the "Relief
Letter").
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PART I
ITEM 1. BUSINESS
Not applicable. See the Relief Letter.
ITEM 2. PROPERTIES
Not applicable. See the Relief Letter.
ITEM 3. LEGAL PROCEEDINGS
There were no material pending legal proceedings relating to the
Trust Fund to which any of the Trust Fund, the Trustee, the Master
Servicer or the Company was a party or of which any of their
respective properties was the subject during the fiscal year covered
by this Report, nor is the Company aware of any such proceedings
contemplated by governmental authorities.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matter was submitted to a vote of Certificateholders, and no
Certificateholder consent was solicited during the fiscal year
covered by this Report.
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PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
(a) There is no established public trading market for the
Certificates.
(b) As of December 31, 1999 there were less than 300 holders of
record of the Certificates.
(c) Not applicable. (Information as to distributions to
Certificateholders is provided in the Registrant's monthly filings on
Form 8-K.)
ITEM 6. SELECTED FINANCIAL DATA
Not applicable. See the Relief Letter.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
Not applicable. See the Relief Letter.
ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable. See the Relief Letter.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Not applicable. See the Relief Letter.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
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PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Not applicable. See the Relief Letter.
ITEM 11. EXECUTIVE COMPENSATION
Not applicable. See the Relief Letter.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
(a) Not applicable. See the Relief Letter.
(b) Not applicable. See the Relief Letter.
(c) Not applicable. See the Relief Letter.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
(a) Not applicable. See the Relief Letter.
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PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K
(a) (1) Pursuant to the Pooling and Servicing
Agreement, the Master Servicer is required (i) to deliver
an annual statement as to compliance with the provisions of
the Pooling and Servicing Agreement and certain other
matters (the "Annual Statement of the Master Servicer") and
(ii) to cause a firm of independent public accountants to
deliver an annual report as to compliance with the
servicing provisions of the Pooling and Servicing Agreement
(the "Annual Report of the Firm of Accountants"). The
Annual Statement of the Master Servicer is attached as
Exhibit 99.1 to this Report. The Annual Report of the Firm
of Accountants is required to be delivered not later than
120 days after the end of the Master Servicer's fiscal
year. The Registrant hereby undertakes to file the Annual
Report of the Firm of Accountants as an Exhibit to a Form
10-K/A amending this Form 10-K promptly following the date
on which such report becomes available.
(2) Not applicable.
(3) The required exhibits are as follows:
Exhibit 3(i): Copy of Company's Certificate of
Incorporation (Filed as an Exhibit to Registration
Statement on Form S-3 (File No. 33-63714)).
Exhibit 3(ii): Copy of Company's By-laws (Filed
as an Exhibit to Registration Statement on Form S-3 (File
No. 33-53614)).
Exhibit 4: Pooling and Servicing Agreement (Filed
as part of the Registrant's Current Report on Form 8-K
filed on April 9, 1999).
Exhibit 99.1: Annual Statement of the Master
Servicer.
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(b) Current Reports on Form 8-K filed during the last quarter
ending December 31, 1999:
Date of Current Report Item Reported
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October 25, 1999 Monthly report sent to
certificateholders with the
October 1999 distribution
November 25,1999 Monthly report sent to
certificateholders with the
November 1999 distribution
December 27, 1999 Monthly report sent to
certificateholders with the
December 1999 distribution
(c) See subparagraph (a)(3) above.
(d) Not applicable. See the Relief Letter.
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED
PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT
REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
No such annual report, proxy statement, form of proxy or
other soliciting material has been sent to Certificateholders. See the
Relief Letter.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CWMBS, INC.,
MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 1999-4
By: The Bank of New York,
as Trustee*
By: /s/ Courtney Bartholomew
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Name: Courtney Bartholomew
Title: Assistant Vice President
Date: March 22, 2000
* This Report is being filed by the Trustee on behalf of the Trust Fund. The
Trust Fund does not have any officers or directors.
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EXHIBIT INDEX
Sequential
Exhibit Document Page Number
3(i) Company's Certificate of Incorporation (Filed as an
Exhibit to Registration Statement on Form S-3 (File No.
33-63714)) *
3(ii) Company's By-laws (Filed as an Exhibit to Registration
Statement on Form S-3 (File No. 33-63714)) *
4 Pooling and Servicing Agreement (Filed as part of the
Company's Current Report on Form 8-K filed on April 9, 1999) *
99.1 Annual Statement of the Master
Servicer................................................12
* Incorporated herein by reference.
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Exhibit 99.1
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COUNTRYWIDE HOME LOANS, INC.
OFFICERS' CERTIFICATE
ANNUAL STATEMENT OF THE MASTER SERVICER
CWMBS, INC.
CHL MORTGAGE PASS THROUGH TRUST 1999-4
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1999-4
The undersigned do hereby certify that they are each an
officer of Countrywide Home Loans, Inc. (the "Master Servicer") and do
hereby further certify pursuant to Section 3.16 of the Pooling and
Servicing Agreement for the above-captioned Series (the "Agreement")
that:
(i) A review of the activities of the Master Servicer during
the preceding calendar year and of the performance of the
Master Servicer under the Agreement has been made under our
supervision; and
(ii) To the best of our knowledge, based on such review, the
Master Servicer has fulfilled all its obligations under the
Agreement throughout such year.
/s/ Thomas H. Boone Dated: 3/22/00
THOMAS H. BOONE
MANAGING DIRECTOR,
PORTFOLIO MANAGEMENT
/s/ David A. Spector Dated: 3/22/00
DAVID A. SPECTOR
SENIOR VICE PRESIDENT
