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): July 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 July 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 July 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: July 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 July 25, 1999
Payment Date: 07/25/99
------------------------------------------------------------
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 5.200000% 0.00 172,281.17 172,281.17 0.00 0.00
A5 39,757,193.00 3.300000% 0.00 109,332.28 109,332.28 0.00 0.00
A6 107,764,000.00 6.750000% 455,454.24 606,172.50 1,061,626.74 0.00 0.00
A7 77,424,000.00 6.750000% 408,249.11 435,510.00 843,759.11 0.00 0.00
A8 19,170,900.00 6.750000% 0.00 107,836.31 107,836.31 0.00 0.00
A9 25,510,103.00 7.250000% 79,287.78 154,123.54 233,411.32 0.00 0.00
A10 72,917,000.00 7.250000% 308,176.73 440,540.21 748,716.94 0.00 0.00
A11 10,028,398.00 0.000000% 28,701.08 0.00 28,701.08 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 7.000000% 0.00 36,666.67 36,666.67 0.00 0.00
A15 6,000,000.00 6.750000% 3,414,092.20 0.00 3,414,092.20 0.00 0.00
A16 5,000,000.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A17 5,000,000.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A18 1,400,000.00 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 7,086,341.00 0.000000% 11,341.51 0.00 11,341.51 0.00 0.00
X 368,899,107.00 0.384582% 0.00 118,226.65 118,226.65 0.00 0.00
M 18,554,800.00 6.750000% 15,266.94 104,370.75 119,637.69 0.00 0.00
B1 6,301,600.00 6.750000% 5,184.97 35,446.50 40,631.47 0.00 0.00
B2 2,800,800.00 6.750000% 2,304.51 15,754.50 18,059.01 0.00 0.00
B3 2,100,500.00 6.750000% 1,728.30 11,815.31 13,543.61 0.00 0.00
B4 1,750,500.00 6.750000% 1,440.32 9,846.56 11,286.88 0.00 0.00
B5 1,750,460.00 6.750000% 1,440.27 9,846.34 11,286.61 0.00 0.00
Residual AR 100.00 6.750000% 100.00 0.56 100.56 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 700,181,959.00 - 4,732,767.96 3,923,597.83 8,656,365.79 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 107,308,545.76 0.00
A7 77,015,750.89 0.00
A8 19,170,900.00 0.00
A9 25,430,815.22 0.00
A10 72,608,823.27 0.00
A11 9,999,696.92 0.00
A12 6,000,000.00 0.00
A13 6,750,000.00 0.00
A14 5,500,000.00 0.00
A15 2,619,657.80 0.00
A16 5,028,125.00 0.00
A17 5,028,125.00 0.00
A18 1,407,875.00 0.00
A19 27,831,261.00 0.00
A20 70,018,196.00 0.00
PO 7,074,999.49 0.00
X 365,074,334.43 0.00
M 18,539,533.06 0.00
B1 6,296,415.03 0.00
B2 2,798,495.49 0.00
B3 2,098,771.70 0.00
B4 1,749,059.68 0.00
B5 1,749,019.73 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 695,547,066.04 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 07/25/99
------------------------------------------------------------
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 5.200000% 12669BDC3 0.000000 4.333333 1,000.000000
A5 39,757,193.00 3.300000% 12669BDD1 0.000000 2.750000 1,000.000000
A6 107,764,000.00 6.750000% 12669BDE9 4.226404 5.625000 995.773596
A7 77,424,000.00 6.750000% 12669BDF6 5.272901 5.625000 994.727099
A8 19,170,900.00 6.750000% 12669BDG4 0.000000 5.625000 1,000.000000
A9 25,510,103.00 7.250000% 12669BDH2 3.108093 6.041667 996.891907
A10 72,917,000.00 7.250000% 12669BDJ8 4.226404 6.041667 995.773596
A11 10,028,398.00 0.000000% 12669BDK5 2.861981 0.000000 997.138019
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 7.000000% 12669BDN9 0.000000 6.666667 1,000.000000
A15 6,000,000.00 6.750000% 12669BDP4 569.015367 0.000000 436.609633
A16 5,000,000.00 6.750000% 12669BDQ2 0.000000 0.000000 1,005.625000
A17 5,000,000.00 6.750000% 12669BDR0 0.000000 0.000000 1,005.625000
A18 1,400,000.00 6.750000% 12669BDS8 0.000000 0.000000 1,005.625000
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 7,086,341.00 0.000000% 12669BDW9 1.600475 0.000000 998.399525
X 368,899,107.00 0.384582% 12669BDX7 0.000000 0.320485 989.631928
M 18,554,800.00 6.750000% 12669BDZ2 0.822803 5.625000 999.177197
B1 6,301,600.00 6.750000% 12669BEA6 0.822802 5.625000 999.177198
B2 2,800,800.00 6.750000% 12669BEB4 0.822804 5.625000 999.177196
B3 2,100,500.00 6.750000% 12669BEK4 0.822804 5.624999 999.177196
B4 1,750,500.00 6.750000% 12669BEL2 0.822805 5.624999 999.177195
B5 1,750,460.00 6.750000% 12669BEM0 0.822795 5.625001 999.177205
Residual AR 100.00 6.750000% 12669BDY5 1,000.000000 5.600000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 700,181,959.00 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 695,547,066.36 695,547,066.36
Aggregated loan count 2170 2170
Aggregated average loan rate 7.163925% 7.16
Aggregated prepayment amount 4,057,937.98 4,057,937.98
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 141,732.14 141,732.14
Monthly sub servicer fees 12,030.34 12,030.34
Monthly trustee fees 5,251.36 5,251.36
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% 700,181,959.00
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 910,516.04
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 8 910,516.04
- --------------------------------------------------------------------------------
<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 8,656,365.79 8,656,365.79
Principal remittance amount 4,732,767.96 4,732,767.96
Interest remittance amount 3,923,597.83 3,923,597.83
