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): August 25, 1999
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-4)
(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 1999-4
On August 25, 1999, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-4, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of March 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 1999-4 relating to the distribution date
of August 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of March 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: August 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 August 25, 1999
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-4
------------------------------------------------------------
<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 94,475,890.00 6.250000% 363,484.68 492,061.93 855,546.61 0.00 0.00
A2 58,533,108.99 6.250000% 231,039.54 304,859.94 535,899.49 0.00 0.00
A3 14,777,600.95 6.250000% 51,014.64 76,966.67 127,981.31 0.00 0.00
PO 415,275.79 0.000000% 1,541.24 0.00 1,541.24 0.00 0.00
X 121,492,229.00 0.343732% 0.00 34,800.67 34,800.67 0.00 0.00
Residual AR 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M 1,297,460.02 6.250000% 4,479.04 6,757.60 11,236.64 0.00 0.00
B1 432,486.01 6.250000% 1,493.01 2,252.53 3,745.54 0.00 0.00
B2 432,486.01 6.250000% 1,493.01 2,252.53 3,745.54 0.00 0.00
B3 691,979.00 6.250000% 2,388.82 3,604.06 5,992.88 0.00 0.00
B4 345,989.01 6.250000% 1,194.41 1,802.03 2,996.44 0.00 0.00
B5 259,495.88 6.250000% 895.82 1,351.54 2,247.36 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 171,661,771.67 - 659,024.21 926,709.51 1,585,733.72 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 94,112,405.32 0.00
A2 58,302,069.44 0.00
A3 14,726,586.31 0.00
PO 413,734.56 0.00
X 121,026,296.91 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M 1,292,980.98 0.00
B1 430,993.00 0.00
B2 430,993.00 0.00
B3 689,590.18 0.00
B4 344,794.60 0.00
B5 258,600.06 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 171,002,747.46 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/99
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-4
------------------------------------------------------------
<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 94,475,890.00 6.250000% 12669BAP7 3.766681 5.099087 975.258086
A2 58,533,108.99 6.250000% 12669BAQ5 3.856761 5.089051 973.240971
A3 14,777,600.95 6.250000% 12669BAR3 3.406359 5.139234 983.326535
PO 415,275.79 0.000000% 12669BAS1 3.560216 0.000000 955.716745
X 121,492,229.00 0.343732% 12669BAT9 0.000000 0.280509 975.527652
Residual AR 0.00 6.250000% 12669BAU6 0.000000 0.014047 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M 1,297,460.02 6.250000% 12669BAV4 3.406359 5.139234 983.326535
B1 432,486.01 6.250000% 12669BAW2 3.406359 5.139234 983.326535
B2 432,486.01 6.250000% 12669BAX0 3.406359 5.139234 983.326535
B3 691,979.00 6.250000% 12669BAY8 3.406359 5.139234 983.326535
B4 345,989.01 6.250000% 12669BAZ5 3.406359 5.139234 983.326535
B5 259,495.88 6.250000% 12669BBA9 3.406347 5.139215 983.322871
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 171,661,771.67 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Countrywide Home Loans
Mortgage Pass-Through Certificates, Series 1999-4
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 171,002,747.46 171,002,747.46
Aggregated loan count 493 493
Aggregated average loan rate 6.739966% 6.74
Aggregated prepayment amount 66,397.15 66,397.15
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 35,762.87 35,762.87
Monthly sub servicer fees 402.26 402.26
Monthly trustee fees 1,287.46 1,287.46
Aggregate advances N/A N/A
Advances this periods 11,561.99 11,561.99
- --------------------------------------------------------------------------------
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 1,753,208.00 1,753,208.00
Special Hazard 2,849,190.78 2,849,190.78
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 97.991287% 100.000000% 168,201,875.73
-----------------------------------------------------------------------------
Junior 2.008713% 0.000000% 3,447,951.83
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 3 1,287,254.97
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 3 1,287,254.97
- --------------------------------------------------------------------------------
<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 1,585,733.72 1,585,733.72
Principal remittance amount 659,024.21 659,024.21
Interest remittance amount 926,709.51 926,709.51
