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): January 25, 2000
CWMBS, INC
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-12)
(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 1999-12
On January 25, 2000, The Bank of New York, as Trustee for CWMBS, INC, Mortgage
Pass-Through Certificates Series 1999-12, 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 1999-12 relating to the distribution
date of January 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: January 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 January 25, 2000
Payment Date: 01/25/00
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-12
------------------------------------------------------------
<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 123,159,505.39 7.500000% 2,512,390.11 769,746.91 3,282,137.02 0.00 0.00
A2 10,000,000.00 7.750000% 0.00 64,583.33 64,583.33 0.00 0.00
A3 10,000,000.00 7.250000% 0.00 60,416.67 60,416.67 0.00 0.00
A4 39,000,000.00 7.500000% 0.00 243,750.00 243,750.00 0.00 0.00
A5 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A6 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A7 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A8 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A9 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A10 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A11 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A12 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A13 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A14 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A15 5,000,000.00 7.500000% 0.00 31,250.00 31,250.00 0.00 0.00
A16 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A17 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A18 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A19 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A20 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A21 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A22 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A23 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A24 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A25 500,000.00 7.500000% 0.00 3,125.00 3,125.00 0.00 0.00
A26 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A27 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A28 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A29 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A30 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A31 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A32 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A33 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A34 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A35 400,000.00 7.500000% 0.00 2,500.00 2,500.00 0.00 0.00
A36 312,000.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A37 23,453,250.77 7.500000% 16,183.34 146,582.82 162,766.16 0.00 0.00
PO 3,350,001.40 0.000000% 3,370.20 0.00 3,370.20 0.00 0.00
X 167,240,860.78 0.565675% 0.00 78,836.67 78,836.67 0.00 0.00
M 6,097,418.14 7.500000% 4,207.37 38,108.86 42,316.24 0.00 0.00
B1 2,737,616.16 7.500000% 1,889.02 17,110.10 18,999.13 0.00 0.00
B2 1,244,370.62 7.500000% 858.65 7,777.32 8,635.96 0.00 0.00
B3 1,119,933.66 7.500000% 772.78 6,999.59 7,772.37 0.00 0.00
B4 497,748.85 7.500000% 343.46 3,110.93 3,454.39 0.00 0.00
B5 746,689.52 7.500000% 515.23 4,666.81 5,182.04 0.00 0.00
Residual AR 0.00 7.500000% 0.00 0.06 0.06 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 240,718,534.50 - 2,540,530.17 1,560,440.06 4,100,970.23 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 120,647,115.27 0.00
A2 10,000,000.00 0.00
A3 10,000,000.00 0.00
A4 39,000,000.00 0.00
A5 500,000.00 0.00
A6 500,000.00 0.00
A7 500,000.00 0.00
A8 500,000.00 0.00
A9 500,000.00 0.00
A10 500,000.00 0.00
A11 500,000.00 0.00
A12 500,000.00 0.00
A13 500,000.00 0.00
A14 500,000.00 0.00
A15 5,000,000.00 0.00
A16 500,000.00 0.00
A17 500,000.00 0.00
A18 500,000.00 0.00
A19 500,000.00 0.00
A20 500,000.00 0.00
A21 500,000.00 0.00
A22 500,000.00 0.00
A23 500,000.00 0.00
A24 500,000.00 0.00
A25 500,000.00 0.00
A26 400,000.00 0.00
A27 400,000.00 0.00
A28 400,000.00 0.00
A29 400,000.00 0.00
A30 400,000.00 0.00
A31 400,000.00 0.00
A32 400,000.00 0.00
A33 400,000.00 0.00
A34 400,000.00 0.00
A35 400,000.00 0.00
A36 312,000.00 0.00
A37 23,437,067.44 0.00
PO 3,346,631.20 0.00
X 164,774,252.48 0.00
M 6,093,210.76 0.00
B1 2,735,727.14 0.00
B2 1,243,511.97 0.00
B3 1,119,160.88 0.00
B4 497,405.39 0.00
B5 746,174.28 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 238,178,004.33 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/00
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-12
------------------------------------------------------------
<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 123,159,505.39 7.500000% 12669BHC9 19.072299 5.843377 915.868052
A2 10,000,000.00 7.750000% 12669BHD7 0.000000 6.458333 1,000.000000
A3 10,000,000.00 7.250000% 12669BHE5 0.000000 6.041667 1,000.000000
A4 39,000,000.00 7.500000% 12669BHF2 0.000000 6.250000 1,000.000000
A5 500,000.00 7.500000% 12669BHG0 0.000000 6.250000 1,000.000000
A6 500,000.00 7.500000% 12669BHH8 0.000000 6.250000 1,000.000000
A7 500,000.00 7.500000% 12669BHJ4 0.000000 6.250000 1,000.000000
A8 500,000.00 7.500000% 12669BHK1 0.000000 6.250000 1,000.000000
A9 500,000.00 7.500000% 12669BHL9 0.000000 6.250000 1,000.000000
A10 500,000.00 7.500000% 12669BHM7 0.000000 6.250000 1,000.000000
A11 500,000.00 7.500000% 12669BHN5 0.000000 6.250000 1,000.000000
A12 500,000.00 7.500000% 12669BHP0 0.000000 6.250000 1,000.000000
A13 500,000.00 7.500000% 12669BHQ8 0.000000 6.250000 1,000.000000
A14 500,000.00 7.500000% 12669BHR6 0.000000 6.250000 1,000.000000
A15 5,000,000.00 7.500000% 12669BHS4 0.000000 6.250000 1,000.000000
A16 500,000.00 7.500000% 12669BHT2 0.000000 6.250000 1,000.000000
A17 500,000.00 7.500000% 12669BHU9 0.000000 6.250000 1,000.000000
A18 500,000.00 7.500000% 12669BHV7 0.000000 6.250000 1,000.000000
A19 500,000.00 7.500000% 12669BHW5 0.000000 6.250000 1,000.000000
A20 500,000.00 7.500000% 12669BHX3 0.000000 6.250000 1,000.000000
A21 500,000.00 7.500000% 12669BHY1 0.000000 6.250000 1,000.000000
A22 500,000.00 7.500000% 12669BHZ8 0.000000 6.250000 1,000.000000
A23 500,000.00 7.500000% 12669BJA1 0.000000 6.250000 1,000.000000
A24 500,000.00 7.500000% 12669BJB9 0.000000 6.250000 1,000.000000
A25 500,000.00 7.500000% 12669BJC7 0.000000 6.250000 1,000.000000
A26 400,000.00 7.500000% 12669BJD5 0.000000 6.250000 1,000.000000
A27 400,000.00 7.500000% 12669BJE3 0.000000 6.250000 1,000.000000
A28 400,000.00 7.500000% 12669BJF0 0.000000 6.250000 1,000.000000
A29 400,000.00 7.500000% 12669BJG8 0.000000 6.250000 1,000.000000
A30 400,000.00 7.500000% 12669BJH6 0.000000 6.250000 1,000.000000
A31 400,000.00 7.500000% 12669BJJ2 0.000000 6.250000 1,000.000000
A32 400,000.00 7.500000% 12669BJK9 0.000000 6.250000 1,000.000000
A33 400,000.00 7.500000% 12669BJL7 0.000000 6.250000 1,000.000000
A34 400,000.00 7.500000% 12669BJM5 0.000000 6.250000 1,000.000000
A35 400,000.00 7.500000% 12669BJZ6 0.000000 6.250000 1,000.000000
A36 312,000.00 0.000000% 12669BJN3 0.000000 0.000000 1,000.000000
A37 23,453,250.77 7.500000% 12669BJP8 0.688653 6.237567 997.322019
PO 3,350,001.40 0.000000% 12669BJQ6 1.003097 0.000000 996.082224
X 167,240,860.78 0.565675% 12669BJR4 0.000000 0.448734 937.885865
M 6,097,418.14 7.500000% 12669BJT0 0.688653 6.237567 997.322032
B1 2,737,616.16 7.500000% 12669BJU7 0.688653 6.237567 997.322032
B2 1,244,370.62 7.500000% 12669BJV5 0.688653 6.237567 997.322032
B3 1,119,933.66 7.500000% 12669BJW3 0.688653 6.237567 997.322032
B4 497,748.85 7.500000% 12669BJX1 0.688653 6.237567 997.322032
B5 746,689.52 7.500000% 12669BJY9 0.688653 6.237567 997.322032
Residual AR 0.00 7.500000% 12669BJS2 0.000000 0.603057 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 240,718,534.50 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-12
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 238,178,004.58 238,178,004.58
Aggregated loan count 704 704
Aggregated average loan rate 8.062827% 8.06
Aggregated prepayment amount 2,373,868.13 2,373,868.13
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 46,060.49 46,060.49
Monthly sub servicer fees 3,048.14 3,048.14
Monthly trustee fees 1,805.39 1,805.39
Aggregate advances N/A N/A
Advances this periods 10,227.25 10,227.25
- --------------------------------------------------------------------------------
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% 240,718,534.50
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 4 975,126.66
60 to 89 days 0 0.00
90 or more 1 379,356.16
Foreclosure 0 0.00
Totals: 5 1,354,482.82
- --------------------------------------------------------------------------------
<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 4,100,970.23 4,100,970.23
Principal remittance amount 2,540,530.17 2,540,530.17
Interest remittance amount 1,560,440.06 1,560,440.06
