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): March 25, 2000
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 March 25, 2000, 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 March 25, 2000 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: March 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 March 25, 2000
Payment Date: 03/25/00
------------------------------------------------------------
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 6.178750% 0.00 204,708.13 204,708.13 0.00 0.00
A5 39,757,193.00 2.321250% 0.00 76,905.32 76,905.32 0.00 0.00
A6 101,113,232.96 6.750000% 1,495,783.90 568,761.94 2,064,545.84 0.00 0.00
A7 71,462,545.52 6.750000% 1,340,754.76 401,976.82 1,742,731.58 0.00 0.00
A8 19,170,900.00 6.750000% 0.00 107,836.31 107,836.31 0.00 0.00
A9 24,734,980.71 7.250000% 0.00 149,440.51 149,440.51 0.00 0.00
A10 69,904,245.09 7.250000% 0.00 422,338.15 422,338.15 0.00 0.00
A11 9,747,814.48 0.000000% 0.00 0.00 0.00 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 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A16 5,017,454.54 6.750000% 0.00 0.00 0.00 0.00 0.00
A17 5,229,479.87 6.750000% 0.00 0.00 0.00 0.00 0.00
A18 1,464,254.37 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 6,943,413.68 0.000000% 10,197.80 0.00 10,197.80 0.00 0.00
X 352,828,597.09 0.363892% 0.00 106,992.97 106,992.97 0.00 0.00
M 18,427,956.95 6.750000% 16,448.33 103,657.26 120,105.59 0.00 0.00
B1 6,258,521.45 6.750000% 5,586.20 35,204.18 40,790.38 0.00 0.00
B2 2,781,653.37 6.750000% 2,482.83 15,646.80 18,129.63 0.00 0.00
B3 2,086,140.72 6.750000% 1,862.04 11,734.54 13,596.58 0.00 0.00
B4 1,738,533.35 6.750000% 1,551.77 9,779.25 11,331.02 0.00 0.00
B5 1,738,493.27 6.750000% 1,551.73 9,779.02 11,330.75 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 677,442,077.33 - 2,876,219.36 3,817,255.85 6,693,475.21 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 99,617,449.06 0.00
A7 70,121,790.76 0.00
A8 19,170,900.00 0.00
A9 24,734,980.71 0.00
A10 69,904,245.09 0.00
A11 9,747,814.48 0.00
A12 6,000,000.00 0.00
A13 6,750,000.00 0.00
A14 5,500,000.00 0.00
A15 0.00 0.00
A16 5,045,677.72 0.00
A17 5,258,895.69 0.00
A18 1,472,490.80 0.00
A19 27,831,261.00 0.00
A20 70,018,196.00 0.00
PO 6,933,215.88 0.00
X 350,808,670.82 0.00
M 18,411,508.62 24,894.15
B1 6,252,935.25 8,454.58
B2 2,779,170.54 3,757.71
B3 2,084,278.68 2,818.15
B4 1,736,981.58 2,348.57
B5 1,736,941.54 2,348.51
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 674,631,733.40 44,621.66
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/00
------------------------------------------------------------
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 6.178750% 12669BDC3 0.000000 5.148958 1,000.000000
A5 39,757,193.00 2.321250% 12669BDD1 0.000000 1.934375 1,000.000000
A6 101,113,232.96 6.750000% 12669BDE9 13.880182 5.277847 924.403781
A7 71,462,545.52 6.750000% 12669BDF6 17.317043 5.191889 905.685456
A8 19,170,900.00 6.750000% 12669BDG4 0.000000 5.625000 1,000.000000
A9 24,734,980.71 7.250000% 12669BDH2 0.000000 5.858091 969.615086
A10 69,904,245.09 7.250000% 12669BDJ8 0.000000 5.792040 958.682407
A11 9,747,814.48 0.000000% 12669BDK5 0.000000 0.000000 972.021102
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 0.00 6.750000% 12669BDP4 0.000000 0.000000 0.000000
A16 5,017,454.54 6.750000% 12669BDQ2 0.000000 0.000000 1,009.135544
A17 5,229,479.87 6.750000% 12669BDR0 0.000000 0.000000 1,051.779138
A18 1,464,254.37 6.750000% 12669BDS8 0.000000 0.000000 1,051.779143
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 6,943,413.68 0.000000% 12669BDW9 1.439078 0.000000 978.391511
X 352,828,597.09 0.363892% 12669BDX7 0.000000 0.290033 950.961019
M 18,427,956.95 6.750000% 12669BDZ2 0.886473 5.586547 992.277396
B1 6,258,521.45 6.750000% 12669BEA6 0.886473 5.586546 992.277398
B2 2,781,653.37 6.750000% 12669BEB4 0.886472 5.586547 992.277399
B3 2,086,140.72 6.750000% 12669BEK4 0.886475 5.586546 992.277401
B4 1,738,533.35 6.750000% 12669BEL2 0.886472 5.586547 992.277395
B5 1,738,493.27 6.750000% 12669BEM0 0.886470 5.586543 992.277196
Residual AR 0.00 6.750000% 12669BDY5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 677,442,077.33 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 674,631,734.08 674,631,734.08
Aggregated loan count 2116 2116
Aggregated average loan rate 7.149809% 7.15
Aggregated prepayment amount 2,204,950.12 2,204,950.12
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 140,343.39 140,343.39
Monthly sub servicer fees 11,555.31 11,555.31
Monthly trustee fees 5,080.82 5,080.82
Aggregate advances N/A N/A
Advances this periods 51,516.49 51,516.49
- --------------------------------------------------------------------------------
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% 677,442,077.33
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 25 5,917,859.54
60 to 89 days 2 455,668.30
90 or more 1 261,898.77
Foreclosure 4 823,453.20
Totals: 32 7,458,879.81
- --------------------------------------------------------------------------------
<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 6,693,475.21 6,693,475.21
Principal remittance amount 2,876,219.36 2,876,219.36
Interest remittance amount 3,817,255.85 3,817,255.85
