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): February 25, 2000
CWMBS, INC.
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-H)
(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-H
On February 25, 2000, The Bank of New York, as Trustee for CWMBS, INC., Mortgage
Pass-Through Certificates Series 1999-H, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of November 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-H relating to the distribution date
of February 25, 2000 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of November 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: February 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 February 25, 2000
Payment Date: 02/25/00
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-H
Residential Asset Securitization Trust 1999-A8
------------------------------------------------------------
<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 CB1 104,545,699.63 8.000000% 951,424.62 696,971.33 1,648,395.95 0.00 0.00
NB1 76,588,392.50 7.875000% 767,234.43 502,611.33 1,269,845.76 0.00 0.00
NB2 76,588,392.50 0.125000% 0.00 7,977.96 7,977.96 0.00 0.00
PO 907,284.16 0.000000% 974.42 0.00 974.42 0.00 0.00
X 0.00 0.000000% 0.00 103,435.70 103,435.70 0.00 0.00
Residual AR 0.00 8.000000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 6,014,491.50 8.000000% 3,377.26 40,096.61 43,473.87 0.00 0.00
B2 3,708,986.37 8.000000% 2,082.67 24,726.58 26,809.24 0.00 0.00
B3 2,003,831.58 8.000000% 1,125.19 13,358.88 14,484.07 0.00 0.00
B4 1,402,482.32 8.000000% 787.52 9,349.88 10,137.40 0.00 0.00
B5 601,349.26 8.000000% 337.67 4,009.00 4,346.66 0.00 0.00
B6 1,304,970.56 8.000000% 732.77 8,699.80 9,432.57 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 197,077,487.90 - 1,728,076.55 1,411,237.06 3,139,313.61 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior CB1 103,594,275.01 0.00
NB1 75,821,158.07 0.00
NB2 75,821,158.07 0.00
PO 906,309.74 0.00
X 0.00 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 6,011,114.25 0.00
B2 3,706,903.70 0.00
B3 2,002,706.39 0.00
B4 1,401,694.80 0.00
B5 601,011.59 0.00
B6 1,304,237.80 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 195,349,411.35 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/00
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-H
Residential Asset Securitization Trust 1999-A8
------------------------------------------------------------
<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 CB1 104,545,699.63 8.000000% 12669BLC4 8.978552 6.577288 977.614634
NB1 76,588,392.50 7.875000% 12669BLD2 9.745193 6.384026 963.058703
NB2 76,588,392.50 0.125000% 12669BLE0 0.000000 0.101334 963.058703
PO 907,284.16 0.000000% 12669BLH3 1.034915 0.000000 962.572629
X 0.00 0.000000% 12669BLG5 0.000000 0.000000 0.000000
Residual AR 0.00 8.000000% 12669BLJ9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 6,014,491.50 8.000000% 12669BLK6 0.560913 6.659460 998.358121
B2 3,708,986.37 8.000000% 12669BLL4 0.560913 6.659460 998.358121
B3 2,003,831.58 8.000000% 12669BLM2 0.560913 6.659460 998.358121
B4 1,402,482.32 8.000000% 12669BLN0 0.560913 6.659460 998.358121
B5 601,349.26 8.000000% 12669BLP5 0.560913 6.659460 998.358121
B6 1,304,970.56 8.000000% 12669BLQ3 0.560913 6.659460 998.358121
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 197,077,487.90 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
Independent National Mortgage Corporation
Mortgage Pass-Through Certificates, Series 1999-H
Residential Asset Securitization Trust 1999-A8
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Stated principal balance 112,581,000.47 82,768,410.88 195,349,411.35
Loan count 972 233 1205
Average loan rate 9.020414% 9.016131% 9.02
Prepayment amount 891,911.96 725,399.61 1,617,311.57
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 8,849.85 6,214.73 15,064.58
Monthly sub servicer fees 28,301.64 19,589.94 47,891.57
Monthly trustee fees 851.53 626.55 1,478.08
Aggregate advances N/A N/A N/A
Advances this periods 37,087.24 37,279.48 74,366.72
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 2,006,899.00 2,006,899.00 4,013,798.00
Special Hazard 2,992,637.18 2,992,637.18 5,985,274.36
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 92.374414% 100.000000% 182,041,376.29
-----------------------------------------------------------------------------
Junior 7.625586% 0.000000% 15,027,668.54
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 40 7,840,271.39
60 to 89 days 7 909,994.41
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 47 8,750,265.80
- --------------------------------------------------------------------------------
<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 3,139,313.61 3,139,313.61
Principal remittance amount 1,728,076.55 1,728,076.55
Interest remittance amount 1,411,237.06 1,411,237.06
