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): September 25, 1999
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-A)
(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-A
On September 25, 1999, The Bank of New York, as Trustee for CWMBS, INC.,
Mortgage Pass-Through Certificates Series 1999-A, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of January 1, 1999, among CWMBS, INC. as
Depositor, Independent National Mortgage Corporation, 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-A relating to the distribution date
of September 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of January 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: September 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 September 25, 1999
Payment Date: 09/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-A
Residential Asset Securitization Trust, 1999-A1
------------------------------------------------------------
<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 169,596,294.34 6.750000% 3,022,656.28 951,516.62 3,974,172.90 0.00 2,462.54
A2 20,159,625.00 6.500000% 475,788.49 108,916.09 584,704.58 0.00 281.88
A3 3,136,088.00 6.500000% 0.00 16,943.29 16,943.29 0.00 43.85
A4 3,400,000.00 6.500000% 0.00 18,369.13 18,369.13 0.00 47.54
PO 133,312.04 0.000000% 149.15 0.00 149.15 0.00 0.00
X 204,587,151.99 0.641774% 0.00 109,133.12 109,133.12 0.00 282.44
Residual AR 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,069,687.64 6.716000% 5,795.41 45,046.77 50,842.18 0.00 116.58
B2 3,848,620.70 6.716000% 2,763.97 21,483.85 24,247.81 0.00 55.60
B3 1,986,385.31 6.716000% 1,426.56 11,088.44 12,515.00 0.00 28.70
B4 1,489,788.04 6.716000% 1,069.92 8,316.32 9,386.25 0.00 21.52
B5 744,894.52 6.716000% 534.96 4,158.16 4,693.13 0.00 10.76
B6 1,241,490.87 6.716000% 891.60 6,930.27 7,821.88 0.00 17.94
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 213,806,186.45 - 3,511,076.34 1,301,902.08 4,812,978.42 - 3,369.34
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 166,573,638.06 2,462.54
A2 19,683,836.51 281.88
A3 3,136,088.00 43.85
A4 3,400,000.00 47.54
PO 133,162.89 0.00
X 201,085,907.73 282.44
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 8,063,892.23 116.58
B2 3,845,856.73 55.60
B3 1,984,958.75 28.70
B4 1,488,718.12 21.52
B5 744,359.56 10.76
B6 1,240,599.27 17.94
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 210,295,110.11 3,369.34
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/99
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-A
Residential Asset Securitization Trust, 1999-A1
------------------------------------------------------------
<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 169,596,294.34 6.750000% 12669A5C4 15.087119 4.749347 831.426447
A2 20,159,625.00 6.500000% 12669A5D2 19.031540 4.356644 787.353460
A3 3,136,088.00 6.500000% 12669A5E0 0.000000 5.402684 1,000.000000
A4 3,400,000.00 6.500000% 12669A5F7 0.000000 5.402684 1,000.000000
PO 133,312.04 0.000000% 12669A5H3 1.110243 0.000000 991.268461
X 204,587,151.99 0.641774% 12669A5J9 0.000000 0.454353 837.179080
Residual AR 0.00 0.000000% 12669A5K6 0.000000 0.039763 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,069,687.64 6.716000% 12669A5L4 0.714751 5.555642 994.524152
B2 3,848,620.70 6.716000% 12669A5M2 0.714751 5.555642 994.524155
B3 1,986,385.31 6.716000% 12669A5N0 0.714751 5.555642 994.524115
B4 1,489,788.04 6.716000% 12669A5W0 0.714751 5.555642 994.524151
B5 744,894.52 6.716000% 12669A5X8 0.714751 5.555642 994.524153
B6 1,241,490.87 6.716000% 12669A5Y6 0.714751 5.555642 994.524156
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 213,806,186.45 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-A
Residential Asset Securitization Trust, 1999-A1
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 210,295,110.24 210,295,110.24
Aggregated loan count 576 576
Aggregated average loan rate 7.960312% 7.96
Aggregated prepayment amount 3,357,501.22 3,357,501.22
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 0.00 0.00
Monthly sub servicer fees 106,083.21 106,083.21
Monthly trustee fees 1,603.55 1,603.55
Aggregate advances N/A N/A
Advances this periods 33,125.41 33,125.41
- --------------------------------------------------------------------------------
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 4,996,827.00 4,996,827.00
Special Hazard 4,238,775.33 4,238,775.33
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.876101% 100.000000% 196,425,319.37
-----------------------------------------------------------------------------
Junior 8.123899% 0.000000% 17,368,384.65
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 619,181.04
60 to 89 days 1 291,544.27
90 or more 4 2,632,816.21
Foreclosure 2 726,457.57
Totals: 8 4,269,999.09
- --------------------------------------------------------------------------------
<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 4,812,978.42 4,812,978.42
Principal remittance amount 3,511,076.34 3,511,076.34
Interest remittance amount 1,301,902.08 1,301,902.08
