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): November 25, 1999
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-G)
(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-G
On November 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-G, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of August 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-G relating to the distribution date
of November 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of August 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-G
Residential Asset Securitization Trust 1999-A7
------------------------------------------------------------
<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 CB1 132,926,215.75 7.500000% 1,027,409.53 830,788.85 1,858,198.38 0.00 0.00
NB1 76,456,630.69 7.500000% 2,622,140.26 477,853.94 3,099,994.20 0.00 0.00
NB2 5,000,000.00 7.500000% 0.00 31,250.00 31,250.00 0.00 0.00
NB3 10,600,000.00 7.500000% 0.00 66,250.00 66,250.00 0.00 0.00
PO 1,702,829.00 0.000000% 2,460.45 0.00 2,460.45 0.00 0.00
X 0.00 0.000000% 0.00 124,442.14 124,442.14 0.00 0.00
Residual AR 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,549,919.51 7.500000% 6,048.18 53,437.00 59,485.18 0.00 0.00
B2 4,275,459.12 7.500000% 3,024.44 26,721.62 29,746.06 0.00 0.00
B3 2,264,065.83 7.500000% 1,601.59 14,150.41 15,752.00 0.00 0.00
B4 1,633,882.53 7.500000% 1,155.80 10,211.77 11,367.57 0.00 0.00
B5 628,185.88 7.500000% 444.38 3,926.16 4,370.54 0.00 0.00
B6 1,510,707.49 7.500000% 1,068.67 9,441.92 10,510.59 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 245,547,895.80 - 3,665,353.29 1,648,473.80 5,313,827.09 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior CB1 131,898,806.22 0.00
NB1 73,834,490.43 0.00
NB2 5,000,000.00 0.00
NB3 10,600,000.00 0.00
PO 1,700,368.55 0.00
X 0.00 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 8,543,871.33 0.00
B2 4,272,434.68 0.00
B3 2,262,464.24 0.00
B4 1,632,726.73 0.00
B5 627,741.50 0.00
B6 1,509,638.82 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 241,882,542.51 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-G
Residential Asset Securitization Trust 1999-A7
------------------------------------------------------------
<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 CB1 132,926,215.75 7.500000% 12669BFN7 7.675406 6.206524 985.368411
NB1 76,456,630.69 7.500000% 12669BFP2 32.068672 5.844135 902.992923
NB2 5,000,000.00 7.500000% 12669BFQ0 0.000000 6.250000 1,000.000000
NB3 10,600,000.00 7.500000% 12669BFR8 0.000000 6.250000 1,000.000000
PO 1,702,829.00 0.000000% 12669BFS6 1.437468 0.000000 993.407084
X 0.00 0.000000% 12669BFT4 0.000000 0.000000 0.000000
Residual AR 0.00 7.500000% 12669BFU1 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,549,919.51 7.500000% 12669BFV9 0.706480 6.241911 997.999221
B2 4,275,459.12 7.500000% 12669BFW7 0.706480 6.241911 997.999224
B3 2,264,065.83 7.500000% 12669BFM9 0.706480 6.241911 997.999223
B4 1,633,882.53 7.500000% 12669BFJ6 0.706480 6.241911 997.999222
B5 628,185.88 7.500000% 12669BFK3 0.706480 6.241911 997.999211
B6 1,510,707.49 7.500000% 12669BFL1 0.706480 6.241911 997.999221
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 245,547,895.80 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-G
Residential Asset Securitization Trust 1999-A7
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
stated principal balance 143,682,528.40 98,200,014.14 241,882,542.54
loan count 1207 273 1480
average loan rate 8.570494% 8.337342% 8.47
prepayment amount 927,912.76 2,562,781.61 3,490,694.37
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 11,171.69 5,359.09 16,530.78
sub servicer fees 33,817.18 24,421.56 58,238.74
trustee fees 1,085.40 756.21 1,841.61
Aggregate advances N/A N/A N/A
Advances this periods 24,867.02 14,092.18 38,959.20
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 2,518,222.00 2,518,222.00 5,036,444.00
Special Hazard 3,277,575.18 3,277,575.18 6,555,150.36
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.323330% 100.000000% 226,685,675.44
-----------------------------------------------------------------------------
Junior 7.676670% 0.000000% 18,848,877.30
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 31 4,292,265.56
60 to 89 days 5 654,402.90
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 36 4,946,668.46
- --------------------------------------------------------------------------------
<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 5,313,827.09 5,313,827.09
Principal remittance amount 3,665,353.29 3,665,353.29
Interest remittance amount 1,648,473.80 1,648,473.80
