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): January 25, 2000
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 January 25, 2000, 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 January 25, 2000 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: January 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 January 25, 2000
Payment Date: 01/25/00
------------------------------------------------------------
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 158,579,628.97 6.750000% 4,945,241.27 886,631.50 5,831,872.77 0.00 5,378.92
A2 18,425,520.26 6.500000% 778,417.61 99,203.07 877,620.67 0.00 601.83
A3 3,136,088.00 6.500000% 0.00 16,884.71 16,884.71 0.00 102.43
A4 3,400,000.00 6.500000% 0.00 18,305.61 18,305.61 0.00 111.05
PO 132,671.06 0.000000% 133.15 0.00 133.15 0.00 0.00
X 191,789,180.23 0.625029% 0.00 99,292.52 99,292.52 0.00 602.38
Residual AR 0.00 0.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,028,683.18 6.716000% 5,918.25 44,662.91 50,581.16 0.00 270.96
B2 3,829,064.72 6.716000% 2,822.55 21,300.77 24,123.32 0.00 129.23
B3 1,976,291.90 6.716000% 1,456.80 10,993.95 12,450.75 0.00 66.70
B4 1,482,217.99 6.716000% 1,092.60 8,245.46 9,338.06 0.00 50.02
B5 741,109.49 6.716000% 546.30 4,122.73 4,669.03 0.00 25.01
B6 1,235,182.49 6.716000% 910.50 6,871.22 7,781.72 0.00 41.69
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 200,966,458.07 - 5,736,539.03 1,216,514.45 6,953,053.48 - 7,380.21
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 153,634,387.70 5,378.92
A2 17,647,102.65 601.83
A3 3,136,088.00 102.43
A4 3,400,000.00 111.05
PO 132,537.91 0.00
X 186,061,497.74 602.38
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 8,022,764.93 270.96
B2 3,826,242.17 129.23
B3 1,974,835.10 66.70
B4 1,481,125.39 50.02
B5 740,563.19 25.01
B6 1,234,271.99 41.69
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 195,229,919.04 7,380.21
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/00
------------------------------------------------------------
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 158,579,628.97 6.750000% 12669A5C4 24.683404 4.425483 766.842188
A2 18,425,520.26 6.500000% 12669A5D2 31.136704 3.968123 705.884106
A3 3,136,088.00 6.500000% 12669A5E0 0.000000 5.384004 1,000.000000
A4 3,400,000.00 6.500000% 12669A5F7 0.000000 5.384004 1,000.000000
PO 132,671.06 0.000000% 12669A5H3 0.991172 0.000000 986.616102
X 191,789,180.23 0.625029% 12669A5J9 0.000000 0.413384 774.628094
Residual AR 0.00 0.000000% 12669A5K6 0.000000 0.007911 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 8,028,683.18 6.716000% 12669A5L4 0.729901 5.508300 989.451901
B2 3,829,064.72 6.716000% 12669A5M2 0.729901 5.508300 989.451903
B3 1,976,291.90 6.716000% 12669A5N0 0.729901 5.508300 989.451863
B4 1,482,217.99 6.716000% 12669A5W0 0.729901 5.508300 989.451899
B5 741,109.49 6.716000% 12669A5X8 0.729901 5.508300 989.451902
B6 1,235,182.49 6.716000% 12669A5Y6 0.729901 5.508300 989.451904
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 200,966,458.07 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 195,229,919.17 195,229,919.17
Aggregated loan count 543 543
Aggregated average loan rate 7.941403% 7.94
Aggregated prepayment amount 5,588,371.54 5,588,371.54
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 0.00 0.00
Monthly sub servicer fees 99,536.92 99,536.92
Monthly trustee fees 1,507.25 1,507.25
Aggregate advances N/A N/A
Advances this periods 33,205.34 33,205.34
- --------------------------------------------------------------------------------
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 4,225,330.10 4,225,330.10
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.401103% 100.000000% 183,673,908.30
-----------------------------------------------------------------------------
Junior 8.598897% 0.000000% 17,279,802.77
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 391,989.92
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 7 3,829,211.92
Totals: 8 4,221,201.84
- --------------------------------------------------------------------------------
<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 6,953,053.48 6,953,053.48
Principal remittance amount 5,736,539.03 5,736,539.03
Interest remittance amount 1,216,514.45 1,216,514.45