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): August 25, 1999
CWMBS, INC
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-8)
(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 1999-8
On August 25, 1999, The Bank of New York, as Trustee for CWMBS, INC, Mortgage
Pass-Through Certificates Series 1999-8, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of June 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 1999-8 relating to the distribution date
of August 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of June 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: August 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 August 25, 1999
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
<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 19,842,200.00 6.000000% 0.00 99,211.00 99,211.00 0.00 0.00
A2 36,027,857.00 6.050000% 0.00 181,640.45 181,640.45 0.00 0.00
A3 117,895,750.00 6.500000% 0.00 638,601.98 638,601.98 0.00 0.00
A4 39,757,193.00 5.476250% 0.00 181,433.61 181,433.61 0.00 0.00
A5 39,757,193.00 3.023750% 0.00 100,179.84 100,179.84 0.00 0.00
A6 107,308,545.76 6.750000% 570,448.50 603,610.57 1,174,059.07 0.00 0.00
A7 77,015,750.89 6.750000% 511,324.89 433,213.60 944,538.49 0.00 0.00
A8 19,170,900.00 6.750000% 0.00 107,836.31 107,836.31 0.00 0.00
A9 25,430,815.22 7.250000% 99,306.56 153,644.51 252,951.07 0.00 0.00
A10 72,608,823.27 7.250000% 385,985.98 438,678.31 824,664.29 0.00 0.00
A11 9,999,696.92 0.000000% 35,947.60 0.00 35,947.60 0.00 0.00
A12 6,000,000.00 7.000000% 0.00 35,000.00 35,000.00 0.00 0.00
A13 6,750,000.00 7.000000% 0.00 39,375.00 39,375.00 0.00 0.00
A14 5,500,000.00 8.000000% 0.00 36,666.67 36,666.67 0.00 0.00
A15 2,619,657.80 6.750000% 2,006,095.45 0.00 2,006,095.45 0.00 0.00
A16 5,028,125.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A17 5,028,125.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A18 1,407,875.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A19 27,831,261.00 7.250000% 0.00 168,147.20 168,147.20 0.00 0.00
A20 70,018,196.00 6.750000% 0.00 393,852.35 393,852.35 0.00 0.00
PO 7,074,999.49 0.000000% 23,581.36 0.00 23,581.36 0.00 0.00
X 365,074,334.43 0.381193% 0.00 115,969.92 115,969.92 0.00 0.00
M 18,539,533.06 6.750000% 15,524.58 104,284.87 119,809.45 0.00 0.00
B1 6,296,415.03 6.750000% 5,272.47 35,417.33 40,689.80 0.00 0.00
B2 2,798,495.49 6.750000% 2,343.40 15,741.54 18,084.94 0.00 0.00
B3 2,098,771.70 6.750000% 1,757.46 11,805.59 13,563.05 0.00 0.00
B4 1,749,059.68 6.750000% 1,464.62 9,838.46 11,303.08 0.00 0.00
B5 1,749,019.73 6.750000% 1,464.59 9,838.23 11,302.82 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 695,547,066.04 - 3,660,517.46 3,913,987.34 7,574,504.80 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 19,842,200.00 0.00
A2 36,027,857.00 0.00
A3 117,895,750.00 0.00
A4 39,757,193.00 0.00
A5 39,757,193.00 0.00
A6 106,738,097.26 0.00
A7 76,504,426.00 0.00
A8 19,170,900.00 0.00
A9 25,331,508.66 0.00
A10 72,222,837.29 0.00
A11 9,963,749.32 0.00
A12 6,000,000.00 0.00
A13 6,750,000.00 0.00
A14 5,500,000.00 0.00
A15 628,297.93 0.00
A16 5,056,408.20 0.00
A17 5,056,408.20 0.00
A18 1,415,794.30 0.00
A19 27,831,261.00 0.00
A20 70,018,196.00 0.00
PO 7,051,418.13 0.00
X 362,258,471.61 0.00
M 18,524,008.48 0.00
B1 6,291,142.56 0.00
B2 2,796,152.09 0.00
B3 2,097,014.24 0.00
B4 1,747,595.06 0.00
B5 1,747,555.14 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 691,965,769.86 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
<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 19,842,200.00 6.000000% 12669BCZ3 0.000000 5.000000 1,000.000000
A2 36,027,857.00 6.050000% 12669BDA7 0.000000 5.041667 1,000.000000
A3 117,895,750.00 6.500000% 12669BDB5 0.000000 5.416667 1,000.000000
A4 39,757,193.00 5.476250% 12669BDC3 0.000000 4.563542 1,000.000000
A5 39,757,193.00 3.023750% 12669BDD1 0.000000 2.519792 1,000.000000
A6 107,308,545.76 6.750000% 12669BDE9 5.293498 5.601226 990.480098
A7 77,015,750.89 6.750000% 12669BDF6 6.604217 5.595340 988.122882
A8 19,170,900.00 6.750000% 12669BDG4 0.000000 5.625000 1,000.000000
A9 25,430,815.22 7.250000% 12669BDH2 3.892833 6.022889 992.999074
A10 72,608,823.27 7.250000% 12669BDJ8 5.293498 6.016132 990.480098
A11 9,999,696.92 0.000000% 12669BDK5 3.584581 0.000000 993.553439
A12 6,000,000.00 7.000000% 12669BDL3 0.000000 5.833333 1,000.000000
A13 6,750,000.00 7.000000% 12669BDM1 0.000000 5.833333 1,000.000000
A14 5,500,000.00 8.000000% 12669BDN9 0.000000 6.666667 1,000.000000
A15 2,619,657.80 6.750000% 12669BDP4 334.349242 0.000000 104.716322
A16 5,028,125.00 6.750000% 12669BDQ2 0.000000 0.000000 1,011.281640
A17 5,028,125.00 6.750000% 12669BDR0 0.000000 0.000000 1,011.281640
A18 1,407,875.00 6.750000% 12669BDS8 0.000000 0.000000 1,011.281643
A19 27,831,261.00 7.250000% 12669BDT6 0.000000 6.041667 1,000.000000
A20 70,018,196.00 6.750000% 12669BDU3 0.000000 5.625000 1,000.000000
PO 7,074,999.49 0.000000% 12669BDW9 3.327720 0.000000 995.071805
X 365,074,334.43 0.381193% 12669BDX7 0.000000 0.314368 981.998776
M 18,539,533.06 6.750000% 12669BDZ2 0.836688 5.620372 998.340509
B1 6,296,415.03 6.750000% 12669BEA6 0.836688 5.620371 998.340510
B2 2,798,495.49 6.750000% 12669BEB4 0.836690 5.620373 998.340506
B3 2,098,771.70 6.750000% 12669BEK4 0.836687 5.620371 998.340509
B4 1,749,059.68 6.750000% 12669BEL2 0.836687 5.620371 998.340508
B5 1,749,019.73 6.750000% 12669BEM0 0.836689 5.620368 998.340516
Residual AR 0.00 6.750000% 12669BDY5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 695,547,066.04 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 691,965,770.18 691,965,770.18
Aggregated loan count 2160 2160
Aggregated average loan rate 7.161157% 7.16
Aggregated prepayment amount 2,998,128.44 2,998,128.44
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 142,339.01 142,339.01
Monthly sub servicer fees 12,020.52 12,020.52
Monthly trustee fees 5,216.60 5,216.60
Aggregate advances N/A N/A
Advances this periods 11,687.70 11,687.70
- --------------------------------------------------------------------------------
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% 695,547,066.04
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 1,182,898.53
60 to 89 days 4 534,313.75
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 12 1,717,212.28
- --------------------------------------------------------------------------------
<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 7,574,504.80 7,574,504.80
Principal remittance amount 3,660,517.46 3,660,517.46
Interest remittance amount 3,913,987.34 3,913,987.34
