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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): November 9 , 1998
CWMBS, INC., (as depositor under the Pooling
and Servicing Agreement, dated as of November 1,
1998, providing for the issuance of the CWMBS,
INC., Mortgage Pass-Through Certificates, Series
1998-20).
CWMBS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 333-53861 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) 225-3240
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<PAGE>
Item 5. Other Events.
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Filing of Computational Materials
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In connection with the offering of the Mortgage Pass-Through
Certificates, Series 1998-20, Countrywide Securities Corporation ("CSC"), as
the Underwriter of the Certificates, has prepared certain materials (the "CSC
Computational Materials") for distribution to its potential investors.
Although the Company provided 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 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
CSC Computational Materials, listed as Exhibit 99.1 hereto are filed on Form SE
dated November 9, 1998.
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated November 9, 1998 and the
prospectus supplement dated November 9, 1998, of CWMBS, Inc., relating to its
Mortgage Pass-Through Certificates, Series 1998-20.
<PAGE>
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1. CSC Computational Materials filed on Form SE dated November 9,
1998.
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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: November 9, 1998
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Exhibit Index
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Exhibit Page
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99.1. CSC Computational Materials filed on Form SE dated
November 9, 1998.
<PAGE>
EXHIBIT 99.1
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CSC Computational Materials filed on Form SE dated November 9, 1998.
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
November 10, 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.
Mortgage Pass-Through Certificates,
Series 1998-20
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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, the Company's Current
Report on Form 8-K, for Computational Materials in connection with the
above-referenced transaction.
Very truly yours,
/s/ Amy Sunshine
Amy Sunshine
Enclosure
