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 1999-10)
(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 1999-10
On November 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-10, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of August 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 1999-10 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 August 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 1999-10
------------------------------------------------------------
<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 1,480,354.12 7.250000% 117,926.66 8,943.81 126,870.47 0.00 0.00
A2 20,000,000.00 7.250000% 0.00 120,833.33 120,833.33 0.00 0.00
A3 43,954,000.00 7.250000% 0.00 265,555.42 265,555.42 0.00 0.00
A4 13,000,000.00 7.250000% 0.00 78,541.67 78,541.67 0.00 0.00
A5 92,908,255.76 7.250000% 512,115.49 561,320.71 1,073,436.20 0.00 0.00
A6 39,495,429.82 7.250000% 268,442.37 238,618.22 507,060.59 0.00 0.00
A7 7,238,835.00 7.250000% 0.00 43,734.63 43,734.63 0.00 0.00
A8 99,077,818.18 7.250000% 506,647.62 598,595.15 1,105,242.77 0.00 0.00
A9 4,950,531.03 7.250000% 27,178.30 29,909.46 57,087.76 0.00 0.00
A10 5,000,000.00 8.000000% 0.00 33,333.33 33,333.33 0.00 0.00
A11 3,000,000.00 8.000000% 0.00 20,000.00 20,000.00 0.00 0.00
A12 2,000,000.00 9.000000% 0.00 15,000.00 15,000.00 0.00 0.00
A13 2,666,667.00 7.500000% 0.00 16,666.67 16,666.67 0.00 0.00
A14 1,000,000.00 9.000000% 0.00 7,500.00 7,500.00 0.00 0.00
A15 666,667.00 8.000000% 0.00 4,444.45 4,444.45 0.00 0.00
A16 666,666.00 8.500000% 0.00 4,722.22 4,722.22 0.00 0.00
A17 15,000,000.00 6.708750% 0.00 83,859.38 83,859.38 0.00 0.00
A18 2,586,207.00 10.389250% 0.00 22,390.63 22,390.63 0.00 0.00
A19 9,634,962.00 7.250000% 0.00 58,211.23 58,211.23 0.00 0.00
A20 1,068,967.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A21 43,177,450.00 7.250000% 0.00 260,863.76 260,863.76 0.00 0.00
A22 9,936,713.07 7.250000% 34,768.57 60,034.31 94,802.88 0.00 0.00
A23 775,550.00 7.250000% 0.00 4,685.61 4,685.61 0.00 0.00
PO 8,574,266.59 0.000000% 9,124.92 0.00 9,124.92 0.00 0.00
X 217,043,728.31 0.424736% 0.00 76,821.84 76,821.84 0.00 0.00
M 10,129,467.79 7.250000% 7,669.39 61,198.87 68,868.26 0.00 0.00
B1 4,501,874.74 7.250000% 3,408.53 27,198.83 30,607.36 0.00 0.00
B2 1,800,709.95 7.250000% 1,363.38 10,879.29 12,242.67 0.00 0.00
B3 1,125,518.61 7.250000% 852.17 6,800.01 7,652.18 0.00 0.00
B4 1,125,418.76 7.250000% 852.10 6,799.41 7,651.50 0.00 0.00
B5 1,575,687.42 7.250000% 1,193.01 9,519.78 10,712.79 0.00 0.00
Residual AR 0.00 7.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 448,118,016.84 - 1,491,542.52 2,736,981.98 4,228,524.50 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 1,362,427.46 0.00
A2 20,000,000.00 0.00
A3 43,954,000.00 0.00
A4 13,000,000.00 0.00
A5 92,396,140.27 0.00
A6 39,226,987.45 0.00
A7 7,238,835.00 0.00
A8 98,571,170.56 0.00
A9 4,923,352.72 0.00
A10 5,000,000.00 0.00
A11 3,000,000.00 0.00
A12 2,000,000.00 0.00
A13 2,666,667.00 0.00
A14 1,000,000.00 0.00
A15 666,667.00 0.00
A16 666,666.00 0.00
A17 15,000,000.00 0.00
A18 2,586,207.00 0.00
A19 9,634,962.00 0.00
A20 1,068,967.00 0.00
A21 43,177,450.00 0.00
A22 9,901,944.49 0.00
A23 775,550.00 0.00
PO 8,565,141.67 0.00
X 216,136,028.64 0.00
M 10,121,798.40 0.00
B1 4,498,466.20 0.00
B2 1,799,346.57 0.00
B3 1,124,666.44 0.00
B4 1,124,566.66 0.00
B5 1,574,494.41 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 446,626,474.32 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-10
------------------------------------------------------------
<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 1,480,354.12 7.250000% 12669BFX5 69.573251 5.276582 803.792013
A2 20,000,000.00 7.250000% 12669BFY3 0.000000 6.041667 1,000.000000
A3 43,954,000.00 7.250000% 12669BFZ0 0.000000 6.041667 1,000.000000
A4 13,000,000.00 7.250000% 12669BGA4 0.000000 6.041667 1,000.000000
A5 92,908,255.76 7.250000% 12669BGB2 5.457303 5.981654 984.609508
A6 39,495,429.82 7.250000% 12669BGC0 6.713738 5.967837 981.066156
A7 7,238,835.00 7.250000% 12669BGD8 0.000000 6.041667 1,000.000000
A8 99,077,818.18 7.250000% 12669BGE6 5.066476 5.985952 985.711706
A9 4,950,531.03 7.250000% 12669BGF3 5.435661 5.981892 984.670544
A10 5,000,000.00 8.000000% 12669BGG1 0.000000 6.666667 1,000.000000
A11 3,000,000.00 8.000000% 12669BGH9 0.000000 6.666667 1,000.000000
A12 2,000,000.00 9.000000% 12669BGJ5 0.000000 7.500000 1,000.000000
A13 2,666,667.00 7.500000% 12669BGK2 0.000000 6.250000 1,000.000000
A14 1,000,000.00 9.000000% 12669BGL0 0.000000 7.500000 1,000.000000
A15 666,667.00 8.000000% 12669BGM8 0.000000 6.666667 1,000.000000
A16 666,666.00 8.500000% 12669BGN6 0.000000 7.083333 1,000.000000
A17 15,000,000.00 6.708750% 12669BGP1 0.000000 5.590625 1,000.000000
A18 2,586,207.00 10.389250% 12669BGQ9 0.000000 8.657708 1,000.000000
A19 9,634,962.00 7.250000% 12669BGR7 0.000000 6.041667 1,000.000000
A20 1,068,967.00 0.000000% 12669BGS5 0.000000 0.000000 1,000.000000
A21 43,177,450.00 7.250000% 12669BGT3 0.000000 6.041667 1,000.000000
A22 9,936,713.07 7.250000% 12669BGU0 3.476857 6.003431 990.194449
A23 775,550.00 7.250000% 12669BHB1 0.000000 6.041667 1,000.000000
PO 8,574,266.59 0.000000% 12669BGV8 1.059634 0.000000 994.629560
X 217,043,728.31 0.424736% 12669BGW6 0.000000 0.351534 989.032205
M 10,129,467.79 7.250000% 12669BGY2 0.756007 6.032655 997.752341
B1 4,501,874.74 7.250000% 12669BGZ9 0.756007 6.032655 997.752341
B2 1,800,709.95 7.250000% 12669BHA3 0.756007 6.032655 997.752341
B3 1,125,518.61 7.250000% 12669BFF4 0.756007 6.032655 997.752341
B4 1,125,418.76 7.250000% 12669BFG2 0.756007 6.032655 997.752341
B5 1,575,687.42 7.250000% 12669BFH0 0.756007 6.032655 997.752340
Residual AR 0.00 7.250000% 12669BGX4 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 448,118,016.84 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-10
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 446,626,474.32 446,626,474.32
Aggregated loan count 1290 1290
Aggregated average loan rate 7.579292% 7.58
Aggregated prepayment amount 1,151,505.48 1,151,505.48
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 92,624.37 92,624.37
Monthly sub servicer fees 1,230.31 1,230.31
Monthly trustee fees 3,360.89 3,360.89
Aggregate advances N/A N/A
Advances this periods 37,117.41 37,117.41
- --------------------------------------------------------------------------------
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% 448,118,016.84
-----------------------------------------------------------------------------
Junior 0.000000% 0.000000% 0.00
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 13 4,463,484.67
60 to 89 days 1 434,203.82
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 14 4,897,688.49
- --------------------------------------------------------------------------------
<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 4,228,524.50 4,228,524.50
Principal remittance amount 1,491,542.52 1,491,542.52
Interest remittance amount 2,736,981.98 2,736,981.98
