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): December 25, 1999
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-E)
(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-E
On December 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-E, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of May 1, 1999, among CWMBS, INC. as Depositor,
Independent National Mortgage Corporation, 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-E relating to the distribution date
of December 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of May 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: December 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 December 25, 1999
Payment Date: 12/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-E
Residential Asset Securitization Trust 1999-A5
------------------------------------------------------------
<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 102,611,750.58 6.500000% 1,271,789.78 554,350.27 1,826,140.05 0.00 1,463.38
A2 11,401,305.72 6.090000% 141,309.98 57,709.29 199,019.26 0.00 152.34
A3 11,401,305.72 2.910000% 0.00 27,575.37 27,575.37 0.00 72.79
A4 15,009,133.00 6.750000% 0.00 84,204.09 84,204.09 0.00 222.28
A5 2,500,000.00 6.750000% 0.00 14,025.48 14,025.48 0.00 37.02
PO 76,354.81 0.000000% 66.32 0.00 66.32 0.00 0.00
X 137,571,083.35 0.369347% 0.00 42,231.45 42,231.45 0.00 111.48
Residual AR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 4,774,120.06 6.750000% 3,446.65 26,783.72 30,230.37 0.00 70.70
B2 2,610,846.94 6.750000% 1,884.89 14,647.35 16,532.24 0.00 38.67
B3 1,342,721.45 6.750000% 969.37 7,532.92 8,502.29 0.00 19.89
B4 895,147.64 6.750000% 646.25 5,021.95 5,668.20 0.00 13.26
B5 447,573.82 6.750000% 323.12 2,510.97 2,834.10 0.00 6.63
B6 745,956.69 6.750000% 538.54 4,184.96 4,723.50 0.00 11.05
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 142,414,910.71 - 1,420,974.90 840,777.82 2,261,752.72 - 2,219.49
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 101,339,960.80 1,463.38
A2 11,259,995.75 152.34
A3 11,259,995.75 72.79
A4 15,009,133.00 222.28
A5 2,500,000.00 37.02
PO 76,288.49 0.00
X 136,154,227.38 111.48
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 4,770,673.41 70.70
B2 2,608,962.05 38.67
B3 1,341,752.08 19.89
B4 894,501.39 13.26
B5 447,250.69 6.63
B6 745,418.15 11.05
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 140,993,935.81 2,219.49
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-E
Residential Asset Securitization Trust 1999-A5
------------------------------------------------------------
<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 102,611,750.58 6.500000% 12669BBY7 11.618617 5.064346 925.805671
A2 11,401,305.72 6.090000% 12669BBZ4 11.618617 4.744903 925.805671
A3 11,401,305.72 2.910000% 12669BCA8 0.000000 2.267269 925.805671
A4 15,009,133.00 6.750000% 12669BCB6 0.000000 5.610190 1,000.000000
A5 2,500,000.00 6.750000% 12669BCC4 0.000000 5.610190 1,000.000000
PO 76,354.81 0.000000% 12669BCD2 0.864367 0.000000 994.271806
X 137,571,083.35 0.369347% 12669BCE0 0.000000 0.290804 937.553464
Residual AR 0.00 6.750000% 12669BCF7 0.000000 0.029090 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 4,774,120.06 6.750000% 12669BCG5 0.717616 5.576547 993.285631
B2 2,610,846.94 6.750000% 12669BCH3 0.717616 5.576547 993.285631
B3 1,342,721.45 6.750000% 12669BCJ9 0.717616 5.576547 993.285631
B4 895,147.64 6.750000% 12669BCK6 0.717616 5.576547 993.285631
B5 447,573.82 6.750000% 12669BCL4 0.717616 5.576547 993.285631
B6 745,956.69 6.750000% 12669BCM2 0.717616 5.576541 993.284540
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 142,414,910.71 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-E
Residential Asset Securitization Trust 1999-A5
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 140,993,936.65 140,993,936.65
Aggregated loan count 466 466
Aggregated average loan rate 7.901913% 7.90
Aggregated prepayment amount 1,318,147.50 1,318,147.50
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 0.00 0.00
Monthly sub servicer fees 88,979.26 88,979.26
Monthly trustee fees 1,068.11 1,068.11
Aggregate advances N/A N/A
Advances this periods 17,861.98 17,861.98
- --------------------------------------------------------------------------------
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 3,001,827.00 3,001,827.00
Special Hazard 1,993,146.96 1,993,146.96
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.410099% 100.000000% 131,598,544.11
-----------------------------------------------------------------------------
Junior 7.589901% 0.000000% 10,808,557.78
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 5 1,068,083.26
60 to 89 days 1 108,620.46
90 or more 0 0.00
Foreclosure 1 37,083.34
Totals: 7 1,213,787.06
- --------------------------------------------------------------------------------
<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 2,261,752.72 2,261,752.72
Principal remittance amount 1,420,974.90 1,420,974.90
Interest remittance amount 840,777.82 840,777.82
