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 1999-11)
(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 1999-11
On February 25, 2000, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-11, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of September 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 1999-11 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 September 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 1999-11
------------------------------------------------------------
<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 59,719,499.46 7.250000% 564,029.34 360,805.31 924,834.65 0.00 0.00
A2 24,400,000.00 7.250000% 0.00 147,416.67 147,416.67 0.00 0.00
A3 106,251,706.53 7.250000% 825,408.80 641,937.39 1,467,346.19 0.00 0.00
A4 16,850,000.00 7.250000% 0.00 101,802.08 101,802.08 0.00 0.00
A5 14,331,684.00 7.250000% 0.00 86,587.26 86,587.26 0.00 0.00
A6 2,000,000.00 7.250000% 0.00 12,083.33 12,083.33 0.00 0.00
A7 547,628.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A8 12,881,186.00 7.500000% 0.00 80,507.41 80,507.41 0.00 0.00
A9 1,000,000.00 8.000000% 0.00 6,666.67 6,666.67 0.00 0.00
A10 1,000,000.00 7.500000% 0.00 6,250.00 6,250.00 0.00 0.00
A11 1,000,000.00 8.000000% 0.00 6,666.67 6,666.67 0.00 0.00
A12 8,957,646.65 7.000000% 98,108.31 52,252.94 150,361.25 0.00 0.00
A13 9,223,786.00 7.000000% 0.00 53,805.42 53,805.42 0.00 0.00
A14 16,818,567.35 7.000000% 0.00 0.00 0.00 0.00 0.00
A15 1,206,896.55 7.250000% 0.00 7,291.67 7,291.67 0.00 0.00
A16 34,961,256.00 7.250000% 0.00 211,224.26 211,224.26 0.00 0.00
A17 5,333,054.12 7.250000% 35,758.64 32,220.54 67,979.18 0.00 0.00
PO 5,772,761.84 0.000000% 6,680.21 0.00 6,680.21 0.00 0.00
X 229,388,128.10 0.585848% 0.00 111,988.83 111,988.83 0.00 0.00
M 9,238,185.66 7.250000% 6,938.70 55,814.04 62,752.74 0.00 0.00
B1 3,834,694.12 7.250000% 2,880.20 23,167.94 26,048.14 0.00 0.00
B2 1,743,097.17 7.250000% 1,309.22 10,531.21 11,840.43 0.00 0.00
B3 1,742,997.46 7.250000% 1,309.15 10,530.61 11,839.76 0.00 0.00
B4 697,298.70 7.250000% 523.73 4,212.85 4,736.58 0.00 0.00
B5 1,045,858.36 7.250000% 785.53 6,318.73 7,104.26 0.00 0.00
Residual AR 0.00 7.250000% 0.00 0.07 0.07 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 340,557,803.96 - 1,543,731.83 2,030,081.88 3,573,813.71 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 59,155,470.12 0.00
A2 24,400,000.00 0.00
A3 105,426,297.73 0.00
A4 16,850,000.00 0.00
A5 14,331,684.00 0.00
A6 2,000,000.00 0.00
A7 547,628.00 0.00
A8 12,881,186.00 0.00
A9 1,000,000.00 0.00
A10 1,000,000.00 0.00
A11 1,000,000.00 0.00
A12 8,859,538.34 0.00
A13 9,223,786.00 0.00
A14 16,916,675.66 0.00
A15 1,206,896.55 0.00
A16 34,961,256.00 0.00
A17 5,297,295.48 0.00
PO 5,766,081.62 0.00
X 228,058,498.25 0.00
M 9,231,246.96 0.00
B1 3,831,813.92 0.00
B2 1,741,787.95 0.00
B3 1,741,688.31 0.00
B4 696,774.96 0.00
B5 1,045,072.83 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 339,112,180.44 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/00
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-11
------------------------------------------------------------
<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 59,719,499.46 7.250000% 12669BKA9 8.847519 5.659691 927.928943
A2 24,400,000.00 7.250000% 12669BKB7 0.000000 6.041667 1,000.000000
A3 106,251,706.53 7.250000% 12669BKC5 7.359864 5.723918 940.047238
A4 16,850,000.00 7.250000% 12669BKD3 0.000000 6.041667 1,000.000000
A5 14,331,684.00 7.250000% 12669BKE1 0.000000 6.041667 1,000.000000
A6 2,000,000.00 7.250000% 12669BKF8 0.000000 6.041667 1,000.000000
A7 547,628.00 0.000000% 12669BKG6 0.000000 0.000000 1,000.000000
A8 12,881,186.00 7.500000% 12669BKH4 0.000000 6.250000 1,000.000000
A9 1,000,000.00 8.000000% 12669BKJ0 0.000000 6.666667 1,000.000000
A10 1,000,000.00 7.500000% 12669BKK7 0.000000 6.250000 1,000.000000
A11 1,000,000.00 8.000000% 12669BKL5 0.000000 6.666667 1,000.000000
A12 8,957,646.65 7.000000% 12669BKM3 10.499130 5.591885 948.109728
A13 9,223,786.00 7.000000% 12669BKN1 0.000000 5.833333 1,000.000000
A14 16,818,567.35 7.000000% 12669BKP6 0.000000 0.000000 1,029.508935
A15 1,206,896.55 7.250000% 12669BKQ4 0.000000 6.041667 1,000.000001
A16 34,961,256.00 7.250000% 12669BKR2 0.000000 6.041667 1,000.000000
A17 5,333,054.12 7.250000% 12669BLB6 6.398518 5.765422 947.878277
PO 5,772,761.84 0.000000% 12669BKS0 1.152263 0.000000 994.585674
X 229,388,128.10 0.585848% 12669BKT8 0.000000 0.468210 953.481369
M 9,238,185.66 7.250000% 12669BKV3 0.748939 6.024376 996.389194
B1 3,834,694.12 7.250000% 12669BKW1 0.748939 6.024376 996.389194
B2 1,743,097.17 7.250000% 12669BKX9 0.748939 6.024376 996.389194
B3 1,742,997.46 7.250000% 12669BKY7 0.748939 6.024376 996.389194
B4 697,298.70 7.250000% 12669BKZ4 0.748939 6.024376 996.389194
B5 1,045,858.36 7.250000% 12669BLA4 0.748939 6.024377 996.389268
Residual AR 0.00 7.250000% 12669BKU5 0.000000 0.735552 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 340,557,803.96 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-11
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 337,905,283.99 337,905,283.99
Aggregated loan count 1284 1284
Aggregated average loan rate 7.810375% 7.81
Aggregated prepayment amount 1,189,729.71 1,189,729.71
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 70,373.52 70,373.52
Monthly sub servicer fees 8,114.74 8,114.74
Monthly trustee fees 2,545.13 2,545.13
Aggregate advances N/A N/A
Advances this periods 46,638.51 46,638.51
- --------------------------------------------------------------------------------
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% 340,557,803.96
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 27 5,705,228.24
60 to 89 days 2 187,790.82
90 or more 0 0.00
Foreclosure 1 207,096.20
Totals: 30 6,100,115.26
- --------------------------------------------------------------------------------
<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 3,573,813.71 3,573,813.71
Principal remittance amount 1,543,731.83 1,543,731.83
Interest remittance amount 2,030,081.88 2,030,081.88
