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): November 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 November 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 November 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
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 5.708750% 0.00 189,136.56 189,136.56 0.00 0.00
A5 39,757,193.00 2.791250% 0.00 92,476.89 92,476.89 0.00 0.00
A6 105,252,950.73 6.750000% 913,984.64 592,047.85 1,506,032.49 0.00 0.00
A7 75,173,206.11 6.750000% 819,255.55 422,849.28 1,242,104.83 0.00 0.00
A8 19,170,900.00 6.750000% 0.00 107,836.31 107,836.31 0.00 0.00
A9 25,111,927.50 7.250000% 46,997.21 151,717.90 198,715.11 0.00 0.00
A10 71,369,366.55 7.250000% 182,669.34 431,189.92 613,859.26 0.00 0.00
A11 9,884,263.99 0.000000% 17,012.34 0.00 17,012.34 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 4,987,985.33 6.750000% 0.00 0.00 0.00 0.00 0.00
A17 5,133,452.78 6.750000% 0.00 0.00 0.00 0.00 0.00
A18 1,431,766.78 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 7,021,065.18 0.000000% 7,877.05 0.00 7,877.05 0.00 0.00
X 359,276,683.08 0.374347% 0.00 112,164.74 112,164.74 0.00 0.00
M 18,492,539.94 6.750000% 15,928.81 104,020.54 119,949.35 0.00 0.00
B1 6,280,455.18 6.750000% 5,409.76 35,327.56 40,737.32 0.00 0.00
B2 2,791,402.00 6.750000% 2,404.41 15,701.64 18,106.05 0.00 0.00
B3 2,093,451.84 6.750000% 1,803.22 11,775.67 13,578.89 0.00 0.00
B4 1,744,626.25 6.750000% 1,502.76 9,813.52 11,316.28 0.00 0.00
B5 1,744,586.41 6.750000% 1,502.72 9,813.30 11,316.02 0.00 0.00
Residual AR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 687,306,403.57 - 2,016,347.81 3,878,366.33 5,894,714.14 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 104,338,966.10 0.00
A7 74,353,950.56 0.00
A8 19,170,900.00 0.00
A9 25,064,930.29 0.00
A10 71,186,697.21 0.00
A11 9,867,251.65 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 5,016,042.75 0.00
A17 5,142,215.95 0.00
A18 1,439,820.47 0.00
A19 27,831,261.00 0.00
A20 70,018,196.00 0.00
PO 7,013,188.13 0.00
X 357,916,972.60 0.00
M 18,476,611.13 0.00
B1 6,275,045.42 0.00
B2 2,788,997.59 0.00
B3 2,091,648.62 0.00
B4 1,743,123.49 0.00
B5 1,743,083.69 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 685,334,930.05 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
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 5.708750% 12669BDC3 0.000000 4.757292 1,000.000000
A5 39,757,193.00 2.791250% 12669BDD1 0.000000 2.326042 1,000.000000
A6 105,252,950.73 6.750000% 12669BDE9 8.481354 5.493930 968.217272
A7 75,173,206.11 6.750000% 12669BDF6 10.581416 5.461476 960.347574
A8 19,170,900.00 6.750000% 12669BDG4 0.000000 5.625000 1,000.000000
A9 25,111,927.50 7.250000% 12669BDH2 1.842298 5.947365 982.549161
A10 71,369,366.55 7.250000% 12669BDJ8 2.505168 5.913435 976.270242
A11 9,884,263.99 0.000000% 12669BDK5 1.696417 0.000000 983.930998
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 4,987,985.33 6.750000% 12669BDQ2 0.000000 0.000000 1,003.208550
A17 5,133,452.78 6.750000% 12669BDR0 0.000000 0.000000 1,028.443190
A18 1,431,766.78 6.750000% 12669BDS8 0.000000 0.000000 1,028.443193
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 7,021,065.18 0.000000% 12669BDW9 1.111582 0.000000 989.676919
X 359,276,683.08 0.374347% 12669BDX7 0.000000 0.304053 970.229978
M 18,492,539.94 6.750000% 12669BDZ2 0.858474 5.606126 995.786057
B1 6,280,455.18 6.750000% 12669BEA6 0.858474 5.606125 995.786058
B2 2,791,402.00 6.750000% 12669BEB4 0.858473 5.606127 995.786058
B3 2,093,451.84 6.750000% 12669BEK4 0.858472 5.606127 995.786060
B4 1,744,626.25 6.750000% 12669BEL2 0.858475 5.606124 995.786055
B5 1,744,586.41 6.750000% 12669BEM0 0.858471 5.606126 995.786073
Residual AR 0.00 6.750000% 12669BDY5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 687,306,403.57 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 685,334,930.38 685,334,930.38
Aggregated loan count 2141 2141
Aggregated average loan rate 7.156663% 7.16
Aggregated prepayment amount 1,358,747.04 1,358,747.04
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 142,319.53 142,319.53
Monthly sub servicer fees 12,048.44 12,048.44
Monthly trustee fees 5,154.65 5,154.65
Aggregate advances N/A N/A
Advances this periods 38,124.68 38,124.68
- --------------------------------------------------------------------------------
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% 687,306,403.57
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 20 4,228,232.80
60 to 89 days 1 90,740.57
90 or more 3 1,008,027.25
Foreclosure 1 121,381.59
Totals: 25 5,448,382.21
- --------------------------------------------------------------------------------
<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 5,894,714.14 5,894,714.14
Principal remittance amount 2,016,347.81 2,016,347.81
Interest remittance amount 3,878,366.33 3,878,366.33
