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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, 1998
CWMBS, INC., (as depositor under the Pooling and Servicing Agreement,
dated as of September 1, 1998, providing for the issuance of the CWMBS, INC.,
Residential Asset Securitization Trust 1998-A12,
Mortgage Pass-Through Certificates, Series 1998-L).
CWMBS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-53861 95-4596514
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
4500 Park Granada
Calabasas, California 91302
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (818) 304-5591
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Item 5. Other Events.
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Filing of Computational Materials
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Pursuant to Rule 424(b) under the Securities Act of 1933, concurrently
with, or subsequent to, the filing of this Current Report on Form 8-K (the
"Form 8-K"), CWMBS, Inc. (the "Company") is filing a prospectus and prospectus
supplement with the Securities and Exchange Commission relating to its
Mortgage Pass-Through Certificates, Series 1998-L.
In connection with the offering of the Mortgage Pass-Through
Certificates, Series 1998-L, Lehman Brothers Inc. ("Lehman Brothers"), as the
underwriter of the Underwritten Certificates, has prepared certain materials
(the "Lehman Brothers Computational Materials") for distribution to its
potential investors. Although the Company provided Lehman Brothers with
certain information regarding the characteristics of the Mortgage Loans in the
related portfolio, the Company did not participate in the preparation of the
Lehman Brothers Computational Materials.
For purposes of this Form 8-K, "Computational Materials" shall mean
computer generated tables and/or charts displaying, with respect to any Class
or Classes of Certificates, any of the following: yield; average life;
duration; expected maturity; interest rate sensitivity; loss sensitivity; cash
flow characteristics; background information regarding the Mortgage Loans; the
proposed structure; decrement tables; or similar information (tabular or
otherwise) of a statistical, mathematical, tabular or computational nature.
The Lehman Brothers Computational Materials, listed as Exhibit 99.1 hereto,
are filed on Form SE dated September 25, 1998.
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated August 14, 1998 and the
prospectus supplement dated September 25, 1998, of CWMBS, Inc., relating to
its Mortgage Pass-Through Certificates, Series 1998-L.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Lehman Brothers Computational Materials.
filed on Form SE dated September 25, 1998.
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 hereunto duly authorized.
CWMBS, INC.
By: /s/ Celia Coulter
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Celia Coulter
Vice President
Dated: September 29, 1998
Exhibit Index
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Exhibit Page
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99.1 Lehman Brothers Computational Materials
filed on Form SE dated September 25, 1998.
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
September 29, 1998
BY MODEM
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Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWMBS, Inc.
Residential Asset Securitization Trust 1998-A12,
Mortgage Pass-Through Certificates, Series 1998-L
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Ladies and Gentlemen:
On behalf of CWMBS, Inc. (the "Company"), we enclose herewith for filing,
pursuant to the Securities and Exchange Act of 1934, as amended, the Company's
Current Report on Form 8-K, for Computational Materials in connection with the
above-referenced transaction.
Pursuant to a continuing hardship exemption letter dated November 6,
1996, as provided in Rule 202 of Regulation S-T, Exhibits 99.1 will be filed
on September 29, 1998 in paper on Form SE.
Very truly yours,
/s/ Bruce S. Kaiserman
Bruce S. Kaiserman
Enclosure
