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): April 25, 1999
CWMBS
(Depositor)
(Issuer in respect of RESECURITIZATION MORTGAGE TRUST, SERIES 1999-5)
(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
RESECURITIZATION MORTGAGE TRUST
SERIES 1999-5
On April 25, 1999, The Bank of New York, as Trustee for CWMBS, RESECURITIZATION
MORTGAGE TRUST SERIES 1999-5, made a monthly distribution to Certificate holders
of principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of March 1, 1999, among CWMBS as Depositor, CWMBS, INC., 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, RESECURITIZATION MORTGAGE TRUST
SERIES 1999-5 relating to the distribution date of April 25,
1999 prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of March 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: April 25, 1999
CWMBS
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 April 25, 1999
Payment Date: 04/25/99
------------------------------------------------------------
CWMBS, INC.
RESECURITIZATION MORTGAGE TRUST, SERIES 1999-5
------------------------------------------------------------
<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 259,877,800.00 6.750000% 9,213,621.14 1,461,812.63 10,675,433.76 0.00 0.00
A2 14,955,000.00 6.750000% 0.00 84,121.88 84,121.88 0.00 0.00
A3 15,045,000.00 6.550000% 0.00 82,120.63 82,120.63 0.00 0.00
A4 15,045,000.00 0.120000% 0.00 1,504.50 1,504.50 0.00 0.00
T 120,000.00 6.750000% 3,814.25 675.00 4,489.25 0.00 0.00
Residual AR 268.32 6.750000% 268.32 1.51 269.83 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 289,998,068.32 - 9,217,703.70 1,630,236.13 10,847,939.84 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 250,664,178.86 0.00
A2 14,955,000.00 0.00
A3 15,045,000.00 0.00
A4 15,045,000.00 0.00
T 116,185.75 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 280,780,364.62 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
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CWMBS, INC.
RESECURITIZATION MORTGAGE TRUST, SERIES 1999-5
------------------------------------------------------------
<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 259,877,800.00 6.750000% 1266917F5 35.453668 5.625000 964.546332
A2 14,955,000.00 6.750000% 1266917G3 0.000000 5.625000 1,000.000000
A3 15,045,000.00 6.550000% 1266917H1 0.000000 5.458333 1,000.000000
A4 15,045,000.00 0.120000% 1266917K4 0.000000 0.100000 1,000.000000
T 120,000.00 6.750000% PRIVATE 31.785397 5.625000 968.214603
Residual AR 268.32 6.750000% 1266917J7 1,000.000000 5.625000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 289,998,068.32 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
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CWMBS, INC.
RESECURITIZATION MORTGAGE TRUST, SERIES 1999-5
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 280,780,364.62 280,780,364.62
Aggregated loan count 932 932
Aggregated average loan rate 6.750000% 6.75
Aggregated prepayment amount 0.00 0.00
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 0.00 0.00
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 0.00 0.00
Aggregate advances N/A N/A
Advances this periods 0.00 0.00
- --------------------------------------------------------------------------------
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% 289,998,068.32
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 5 1,323,177.91
60 to 89 days 1 397,640.22
90 or more 2 470,939.04
Foreclosure 0 0.00
Totals: 8 2,191,757.17
- --------------------------------------------------------------------------------
<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 10,847,939.84 10,847,939.84
Principal remittance amount 9,217,703.70 9,217,703.70
Interest remittance amount 1,630,236.13 1,630,236.13
