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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): May 28, 1998
CWMBS, INC., (as depositor under the Pooling and Servicing Agreement, dated as
of May 1, 1998, providing for the issuance of the CWMBS, INC.,
Mortgage Pass-Through Certificates, Series 1998-10).
CWMBS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-45887 95-4449516
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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.
Filing of Computational Materials
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 1998-10.
In connection with the offering of the Mortgage Pass-Through Certificates,
Series 1998-10, Donaldson, Lufkin & Jenrette Securities Corporation ("DLJ"), as
one of the underwriters of the Underwritten Senior Certificates, has prepared
certain materials (the "DLJ Computational Materials") for distribution to its
potential investors. Similarly, Countrywide Securities Corporation ("CSC"), as
underwriters of the Underwritten Certificates, has prepared certain materials
(the "CSC Computational Materials") for distribution to their potential
investors. Although the Company provided DLJ and CSC with certain information
regarding the characteristics of the Mortgage Loans in the related portfolio,
the Company did not participate in the preparation of the DLJ Computational
Materials or the CSC 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
DLJ Computational Materials, listed as Exhibit 99.1 hereto, and the CSC
Computational Materials, listed as Exhibit 99.2 hereto, are filed on Form SE
dated May 28, 1998.
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*Capitalized terms used and not otherwise defined herein shall have the meanings
assigned to them in the prospectus dated March 18, 1998 and the prospectus
supplement dated May 26, 1998, of CWMBS, Inc., relating to its Mortgage
Pass-Through Certificates, Series 1998-10.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 DLJ Computational Materials.
filed on Form SE dated May 28, 1998.
99.2 CSC Computational Materials.
filed on Form SE dated May 28, 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/ Nicholas Krsnich
Nicholas Krsnich
Vice President
Dated: May 28, 1998
Exhibit Index
Exhibit Page
99.1 DLJ Computational Materials filed on Form SE dated May 28,
1998.
99.2 CSC Computational Materials filed on Form SE dated May 28,
1998.
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
May 27, 1998
BY MODEM
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWMBS, Inc. Mortgage Pass-Through Certificates,
Series 1998-10
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 and 99.2 will be
filed on May 28, 1998 in paper on Form SE.
Very truly yours,
/s/ Amy Sunshine
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Amy Sunshine
Enclosure
