SUPPLEMENT
TO PROSPECTUS SUPPLEMENT DATED JANUARY 24, 1994 RULE 424(B)(5)
(TO PROSPECTUS DATED JANUARY 14, 1994) FILE NO. 333-53861
CWMBS, INC.
Depositor
COUNTRYWIDE
HOME LOANS, INC.
Seller and Master Servicer
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1994-2
____________
The Class A-9a certificates represent obligations of the trust only
and do not represent an interest in or obligation of CWMBS, Inc., Countrywide
Home Loans, Inc. or any of their affiliates.
This supplement may be used to offer and sell the offered
certificates only if accompanied by the prospectus supplement and the
prospectus.
THE CLASS A-9a CERTIFICATES
This supplement relates to the offering of the Class A-9a
certificates of the series referenced above. This supplement does not contain
complete information about the offering of the Class A-9a certificates.
Additional information is contained in the prospectus supplement dated January
24, 1994 prepared in connection with the offering of the offered certificates
of the series referenced above and in the prospectus of the depositor dated
January 14, 1994. You are urged to read this supplement, the prospectus
supplement and the prospectus in full.
As of the November 25, 1998, the class certificate balance of the
Class A-9a certificates was approximately $23,045,257.
NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED THESE
SECURITIES OR DETERMINED THAT THIS SUPPLEMENT, THE PROSPECTUS SUPPLEMENT OR THE
PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
This supplement is to be used by Countrywide Securities Corporation, an
affiliate of CWMBS, Inc. and Countrywide Home Loans, Inc., in connection with
offers and sales relating to market making transactions in the Class A-9a
certificates in which Countrywide Securities Corporation acts as principal.
Countrywide Securities Corporation may also act as agent in such transactions.
Sales will be made at prices related to the prevailing prices at the time of
sale.
DECEMBER 4, 1998
<PAGE>
THE MORTGAGE POOL
As of November 1, 1998 (the "Reference Date"), the Mortgage Pool
included approximately 579 Mortgage Loans having an aggregate Stated Principal
Balance of approximately $146,401,055.34.
The following table summarizes the delinquency and foreclosure
experience of the Mortgage Loans as of the Reference Date.
<TABLE>
<CAPTION>
As of
November 1, 1998
<S> <C>
Total Number of Mortgage Loans................................................... 579
Delinquent Mortgage Loans and Pending Foreclosures at Period End(1)
30-59 days.............................................................. 0.00%
60-90 days.............................................................. 0.00%
91 days or more (excluding pending foreclosures)........................ 0.00%
-----
Total Delinquencies..................................................... 0.00%
=====
Foreclosures Pending............................................................. 0.00%
-----
Total Delinquencies and foreclosures pending..................................... 0.00%
=====
</TABLE>
______________
(1) As a percentage of the total number of Mortgage Loans as of the
Reference Date.
Certain information as to the Mortgage Loans as of the Reference Date
is set forth in Exhibit 1 in tabular format. Other than with respect to rates
of interest, percentages (approximate) are stated in such tables by Stated
Principal Balance of the Mortgage Loans as of the Reference Date and have been
rounded in order to total 100.00%.
SERVICING OF MORTGAGE LOANS
THE MASTER SERVICER
Countrywide Home Loans, Inc. will continue to act as Master Servicer
under the Agreement.
FORECLOSURE AND DELINQUENCY EXPERIENCE
The following table summarizes the delinquency, foreclosure and loss
experience, respectively, on the dates indicated, of all mortgage loans
originated or acquired by Countrywide Home Loans, Inc., serviced or master
serviced by the Master Servicer and securitized by the Depositor. The
delinquency, foreclosure and loss percentages may be affected by the size and
relative lack of seasoning of such servicing portfolio which increased from
approximately $8.554 billion at February 28, 1995 to approximately $8.555
billion at February 29, 1996, to approximately $8.671 billion at February 28,
1997, to approximately $11.002 billion at February 28, 1998 and to
approximately $13.986 billion at August 31, 1998. Accordingly, the information
should not be considered as a basis for assessing the likelihood, amount or
severity of delinquency or losses on the Mortgage Loans and no assurances can
be given that the foreclosure, delinquency and loss experience presented in the
table below will be indicative of such experience on the Mortgage Loans:
<TABLE>
<CAPTION>
AT FEBRUARY 28, (29), AT AUGUST 31,
------------------------------------------------
1995 1996 1997 1998 1998
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Delinquent Mortgage Loans and Pending
Foreclosures at Period End(1):
30-59 days............................. 0.41% 0.65% 0.65% 1.08% 0.97%
60-89 days............................. 0.03 0.09 0.15 0.16 0.12
90 days or more (excluding pending
foreclosures)..................... 0.03 0.09 0.16 0.16 0.09
---- ---- ---- ---- ----
Total of delinquencies................. 0.47% 0.83% 0.96% 1.40% 1.18%
==== ==== ==== ==== ====
Foreclosures pending............................ 0.05% 0.12% 0.17% 0.17% 0.15%
==== ==== ==== ==== ====
Total delinquencies and foreclosures pending....
0.52% 0.95% 1.13% 1.57% 1.33%
==== ==== ==== ==== ====
Net Gains/(Losses) on liquidated loans (2) ..... ($81,000) ($307,000) ($2,812,000) ($2,662,000) ($612,192)
Percentage of Net Gains/(Losses) on liquidated
loans (2)(3) .............................. 0.00% 0.00% (0.032)% (0.024)% (0.005)%
Percentage of Net Gains/(Losses) on liquidated
loans (based on average outstanding
principal balance)(2) ..................... (0.001)% (0.004)% (0.033)% (0.027)% (0.005)%
</TABLE>
- -----------------
(1) Excluding loans subserviced for others.
(2) "Net Gains (Losses)" are actual gains or losses incurred on liquidated
properties which are calculated as net liquidation proceeds less book
value (excluding loan purchase premium or discount).
(3) Based upon the total principal balance of the mortgage loans outstanding
on the last day of the indicated period.
The following table summarizes the delinquency and foreclosure
experience, respectively, on the dates indicated, on all mortgage loans
serviced or master serviced by the Master Servicer. Such mortgage loans have a
variety of underwriting, payment and other characteristics, many of which
differ from those of the Mortgage Loans, and no assurances can be given that
the delinquency and foreclosure experience presented in the table below will be
indicative of such experience of the Mortgage Loans. The delinquency and
foreclosure percentages may be affected by the size and relative lack of
seasoning of such servicing portfolio which increased from approximately $113.1
billion at February 28, 1995 to approximately $136.8 billion at February 29,
1996, to approximately $158.6 billion at February 28, 1997, to approximately
$182.9 billion at February 28, 1998 and to approximately $194.6 billion at
August 31, 1998.
<TABLE>
<CAPTION>
AT FEBRUARY 28, (29), AT AUGUST 31,
------------------------------------------------
1995 1996 1997 1998 1998
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Delinquent Mortgage Loans and Pending
Foreclosures at Period End(1):
30-59 days............................. 1.80% 2.13% 2.26% 2.68% 3.07%
60-89 days............................. 0.29 0.48 0.52 0.58 0.22
90 days or more (excluding pending
foreclosures)..................... 0.42 0.59 0.66 0.65 0.34
---- ---- ---- ---- ----
Total of delinquencies................. 2.51% 3.20% 3.44% 3.91% 3.63%
==== ==== ==== ==== ====
Foreclosures pending................... 0.29% 0.49% 0.71% 0.45% 0.36%
==== ==== ==== ==== ====
Total delinquencies and foreclosures
pending........................... 2.80% 3.69% 4.15% 4.36% 3.99%
==== ==== ==== ==== ====
</TABLE>
______________
(1) Excluding loans subserviced for others.
YEAR 2000 COMPLIANCE
The Master Servicer has made and will continue to make investments to
identify, modify or replace any computer systems which are not year 2000
compliant and to address other related issues associated with the change of the
millennium. In the event that computer problems arise out of a failure of such
efforts to be completed on time, or in the event that the computer systems of
the Master Servicer or the Trustee are not fully year 2000 compliant, the
resulting disruptions in the collection or distribution of receipts on the
Mortgage Loans could materially and adversely affect the holders of the Offered
Certificates.
DESCRIPTION OF THE CLASS A-9a CERTIFICATES
The Class A-9a Certificates will be entitled to receive interest in the
amount of the Interest Distribution Amount for such Class as described in the
Prospectus Supplement under "Description of the Certificates -- Interest". The
Class A-9a Certificates are Targeted Principal Class Certificates. The Targeted
Balances for the Class A-9a Certificates are set forth in the Principal Balances
Schedules in the Prospectus Supplement. The Class A-9a Certificates are
allocated principal payments as described in the Prospectus Supplement under
"Description of the Certificates -- Principal -- Senior Principal Distribution
Amount".
As of November 25, 1998 (the "Certificate Date"), the Class Certificate
Balance of the Class A-9a Certificates was approximately $23,045,257, evidencing
a beneficial ownership interest of approximately 15.74% in the Trust Fund. As of
the Certificate Date, the Senior Certificates had an aggregate principal balance
of approximately $141,125,206 and evidenced in the aggregate a beneficial
ownership interest of approximately 96.40% in the Trust Fund. As of the
Certificate Date, the Subordinated Certificates had an aggregate principal
balance of $5,275,850, and evidenced in the aggregate a beneficial ownership
interest of approximately 3.60% in the Trust Fund. For additional information
with respect to the Class A-9a Certificates, see "Description of the
Certificates" in the Prospectus Supplement.
REPORTS TO CERTIFICATEHOLDERS
The most recent monthly statement that has been furnished to
Certificateholders of record on the most recent Distribution Date is included
herein as Exhibit 2.
REVISED STRUCTURING ASSUMPTIONS
Unless otherwise specified, the information in the tables appearing in
this Supplement under "Yield, Prepayment and Maturity Considerations -Decrement
Table" has been prepared on the basis of the following assumed characteristics
of the Mortgage Loans and the following additional assumptions (collectively,
the "Revised Structuring Assumptions"): (i) the Mortgage Loans consist of two
Mortgage Loans with the following characteristics:
<TABLE>
<CAPTION>
PRINCIPAL BALANCE MORTGAGE RATE NET MORTGAGE RATE ORIGINAL TERM TO REMAINING TERM TO
MATURITY (IN MONTHS) MATURITY (IN MONTHS)
- ----------------------- --------------- ------------------- -------------------- --------------------
<S> <C> <C> <C> <C>
$56,980,738.34 7.0711897368% 6.8081897368% 180 121
$89,420,317.00 6.5291395316% 6.2661395316% 180 120
</TABLE>
(ii) the Mortgage Loans prepay at the specified constant percentages of SPA (as
defined below), (iii) no defaults in the payment by Mortgagors of principal of
any interest on the Mortgage Loans are experienced, (iv) scheduled payments on
the Mortgage Loans are received on the first day of each month commencing in the
calendar month following the Reference Date and are computed prior to giving
effect to prepayments received on the last day of the prior month, (v)
prepayments are allocated as described herein without giving effect to loss and
delinquency tests, (vi) there are no Net Interest Shortfalls and prepayments
represent prepayments in full of individual Mortgage Loans and are received on
the last day of each month, commencing in the calendar month of the Reference
Date, (vii) the scheduled monthly payment for each Mortgage Loan has been
calculated based on the assumed Mortgage Loan characteristics set forth in
clause (i) above such that each Mortgage Loan will amortize in amounts
sufficient to repay the balance of such Mortgage Loan by its indicated remaining
term to maturity, (viii) the initial Class Certificate Balance of the Class A-9a
Certificates is $23,045,257.27 (ix) interest accrues on the Class A-9a
Certificates at the applicable interest rate described in the Prospectus
Supplement, (x) distributions in respect of the Certificates are received in
cash on the 25th day of each month commencing in the calendar month following
the Reference Date, (xi) the scheduled balances for the related Classes are as
set forth in the Principal Balance Schedules, (xii) the closing date of the sale
of the Offered Certificates is December 4, 1998, (xiii) the Seller is not
required to repurchase or substitute for any Mortgage Loan and (xiv) the Master
Servicer does not exercise the option to repurchase the Mortgage Loans described
in the Prospectus Supplement under the headings "--Optional Purchase of
Defaulted Loans" and "--Optional Termination". While it is assumed that each of
the Mortgaged Loans prepays at the specified constant percentages of SPA, this
is not likely to be the case. Moreover, discrepancies will exist between the
characteristics of the actual Mortgage Loans as of the Reference Date and
characteristics of the Mortgage Loans assumed in preparing the tables herein.
Prepayments of mortgage loans commonly are measured relative to a
prepayment standard or model. The model used in this Supplement is the Standard
Prepayment Assumption ("SPA"), which represents an assumed rate of prepayment
each month of the then outstanding principal balance of a pool of new mortgage
loans. SPA does not purport to be either an historical description of the
prepayment experience of any pool of mortgage loans or a prediction of the
anticipated rate of prepayment of any pool of mortgage loans, including the
Mortgage Loans. 100% SPA assumes prepayment rates of 0.2% per annum of the then
unpaid principal balance of such pool of mortgage loans in the first month of
the life of such mortgage loans and an additional 0.2% per annum in each month
thereafter (for example, 0.4% per annum in the second month) until the 30th
month. Beginning in the 30th month and in each month thereafter during the life
of such mortgage loans, 100% SPA assumes a constant prepayment rate of 6.0% per
annum. Multiples may be calculated from this prepayment rate sequence. For
example, 325% SPA assumes prepayment rates will be 0.65% per annum in month one,
1.3% per annum in month two, and increasing by 0.65% in each succeeding month
until reaching a rate of 19.5% per annum in month 30 and remaining constant at
19.5% per annum thereafter. 0% SPA assumes no prepayments. There is no assurance
that prepayments will occur at any SPA rate or at any other constant rate.
YIELD, PREPAYMENT AND MATURITY CONSIDERATIONS
DECREMENT TABLES
The following table indicates the percentage of the Certificate Date
Principal Balance of the Class A-9a Certificates that would be outstanding after
each of the dates shown at various constant percentages of SPA and the
corresponding weighted average life thereof. The table has been prepared based
on the Revised Structuring Assumptions. However, all of the Mortgage Loans may
not have the interest rates or remaining terms to maturity described under
"Revised Structuring Assumptions" herein and the Mortgage Loans may not prepay
at the indicated constant percentages of SPA or at any constant percentage.
PERCENT OF CLASS CERTIFICATE
BALANCE OUTSTANDING*
CLASS A-9a
SPA PREPAYMENT ASSUMPTION
------------------------------------------
DISTRIBUTION DATE 0% 100% 325% 500% 750%
----------------- -- ---- ---- ---- ----
Initial Percent.................. 100 100 100 100 100
November 1999.................... 100 68 0 0 0
November 2000.................... 56 0 0 0 0
November 2001.................... 7 0 0 0 0
November 2002.................... 0 0 0 0 0
November 2003.................... 0 0 0 0 0
November 2004.................... 0 0 0 0 0
November 2005.................... 0 0 0 0 0
November 2006.................... 0 0 0 0 0
November 2007.................... 0 0 0 0 0
November 2008.................... 0 0 0 0 0
November 2009.................... 0 0 0 0 0
----- ------ ------ ------ ------
Weighted Average Life (years)**.. 2.1 1.3 0.6 0.4 0.3
________________________
* Rounded to the nearest whole percentage.
** Determined as specified under "Weighted Average Lives of the Offered
Certificates" in the Prospectus Supplement.
CREDIT ENHANCEMENT
As of the Reference Date, the Special Hazard Loss Coverage Amount,
Bankruptcy Loss Coverage Amount and Fraud Loss Coverage Amount were
approximately $1,539,180 and $100,000 and $1,251,099, respectively.
CERTAIN FEDERAL INCOME TAX CONSEQUENCES
Prospective investors should consider carefully the income tax
consequences of an investment in the Class A-9a Certificates discussed under the
sections titled "Certain Federal Income Tax Consequences" in the Prospectus
Supplement and the Prospectus, which the following discussion supplements.
Prospective investors should consult their tax advisors with respect to those
consequences.
The IRS issued final regulations on January 27, 1994 under Sections
1271 through 1273 and 1275 (the "OID Regulations"). The OID Regulations
generally are effective for debt instruments issued on or after April 4, 1994,
but may be relied upon as authority with respect to debt instruments issued
after December 21, 1992. In addition, the IRS issued final regulations (the
"Contingent Regulations") on June 11, 1996 governing the calculation of OID on
instruments having contingent interest payments. The Contingent Regulations
specifically do not apply for purposes of calculating OID on debt instruments
subject to Section 1272(a)(6), such as the Class A-9a Certificates. In addition,
the OID Regulations do not adequately address the calculation of income with
respect to prepayable securities such as the Class A-9a Certificates.
On December 30, 1997 the Internal Revenue Service (the "IRS") issued
final regulations (the "Amortizable Bond Premium Regulations") dealing with
amortizable bond premium. These regulations specifically do not apply to
prepayable debt instruments subject to Section 1272(a)(6). Absent further
guidance from the IRS, the Trustee intends to account for amortizable bond
premium in the manner described in the Prospectus. It is recommended that
prospective purchasers of the Class A-9a Certificates consult their tax advisors
regarding the possible application of the Amortizable Bond Premium Regulations.
The Class A-9a Certificates will represent qualifying assets under
Section 856(c)(4)(A). However, the Small Business and Job Protection Act of
1996, as part of the repeal of the bad debt reserve for thrift institutions,
repealed the application of Section 593(d) for tax years beginning after
December 31, 1995.
The Small Business and Job Protection Act of 1996 and Taxpayer Relief
Act of 1997 modified the definition of U.S. person with regard to trusts and
gave the IRS authority to modify the definition of U.S. person with respect to
partnerships. A trust is a "U.S. Person" if a court within the United States is
able to exercise primary supervision over the administration of the trust and
one or more United States persons have authority to control all substantial
decisions of the trust. In addition, U.S. Persons include certain trusts that
can elect to be treated as U.S. Persons.
Final regulations dealing with backup withholding and information
reporting on income paid to foreign persons and related matters (the "New
Withholding Regulations") were published in the Federal Register on October 14,
1997. In general, the New Withholding Regulations do not significantly alter the
substantive withholding and information reporting requirements, but do unify
current certification procedures and forms and clarify reliance standards. The
New Withholding Regulations generally will be effective for payments made after
December 31, 1999, subject to certain transition rules.
ERISA CONSIDERATIONS
Prospective purchasers of the Class A-9a Certificates should consider
carefully the ERISA consequences of an investment in such Certificates discussed
under "ERISA Considerations" in the Prospectus, the Prospectus Supplement and
herein, and should consult their own advisors with respect to those
consequences. As described in the Prospectus Supplement, it is expected that the
Exemption will apply to the acquisition and holding of Class A-9a Certificates
by Plans and that all conditions of the Exemption other than those within the
control of purchasers of the Certificates will be met.
RATINGS
The Class A-9a Certificates are currently rated "Aaa" by Moody's
Investors Service, Inc. and "AAA" by Duff & Phelps Credit Rating Co. See
"Ratings" in the Prospectus Supplement.
METHOD OF DISTRIBUTION
The Supplement is to be used by Countrywide Securities Corporation, an
affiliate of CWMBS, Inc. and Countrywide Home Loans, Inc., in connection with
offers and sales relating to market making transactions in the Class A-9a
Certificates in which Countrywide Securities Corporation acts as principal.
Countrywide Securities Corporation may also act as agent in such transactions.
Sales will be made at prices relating to the prevailing prices at the time of
sale.
<PAGE>
EXHIBIT 1
MORTGAGE RATES(1)
-----------------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL
MORTGAGE BALANCE PERCENT OF
MORTGAGE RATES (%) LOANS OUTSTANDING MORTGAGE POOL
- -------------------------- --------- ------------------- -------------
6.000.................. 3 $ 809,733.98 0.55%
6.125.................. 2 422,795.26 0.29%
6.250.................. 27 7,277,572.73 4.97%
6.375.................. 40 12,237,091.90 8.36%
6.500.................. 157 38,159,366.66 26.05%
6.625.................. 36 8,882,624.64 6.07%
6.750.................. 90 21,631,131.83 14.78%
6.875.................. 63 15,625,579.58 10.67%
7.000.................. 72 18,894,699.32 12.91%
7.125.................. 33 9,174,995.65 6.27%
7.250.................. 25 6,342,463.38 4.33%
7.375.................. 16 3,537,597.66 2.42%
7.500.................. 9 2,076,300.46 1.42%
7.625.................. 3 675,401.29 0.46%
7.750.................. 3 653,701.00 0.45%
--------- ------------------- -------------
Total.................. 579 $146,401,055.34 100.00%
========= =================== =============
______________
(1) As of the Reference Date, the weighted average Mortgage Rate of the
Mortgage Loans is expected to be approximately 6.740% per annum.
CURRENT MORTGAGE LOAN PRINCIPAL BALANCES(1)
-----------------------------------------------------------------------------
AGGREGATE PERCENT
NUMBER OF PRINCIPAL OF
CURRENT MORTGAGE MORTGAGE BALANCE MORTGAGE
LOAN AMOUNTS LOANS OUTSTANDING POOL
- ----------------------- --------- ----------------- ---------------
$0-$50,000............. 2 $75,542.99 0.05%
$50,001-$100,000....... 15 1,135,568.96 0.78%
$100,001-$150,000...... 21 2,701,890.22 1.85%
$150,001-$200,000...... 161 29,189,119.31 19.94%
$200,001-$250,000...... 160 35,659,435.45 24.35%
$250,001-$300,000...... 89 24,273,182.68 16.58%
$300,001-$350,000...... 48 15,484,171.58 10.58%
$350,001-$400,000...... 33 12,263,437.81 8.38%
$400,001-$450,000...... 13 5,591,996.13 3.82%
$450,000-$500,000...... 15 7,027,577.68 4.80%
$500,001-$550,000...... 10 5,227,964.87 3.57%
$550,001-$600,000...... 4 2,251,369.24 1.54%
$600,001-$650,000...... 3 1,832,575.00 1.25%
$650,001-$750,000...... 3 2,158,850.95 1.47%
$750,001-$1,000,000.... 2 1,528,372.47 1.04%
--------- ----------------- ----------------
Total.................. 579 $146,401,055.34 100.00%
========= ================= ================
______________
(1) As of the Reference Date, the average current Mortgage Loan principal
balance is expected to be approximately $252,852.
ORIGINAL LOAN-TO VALUE RATIOS(1)
------------------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL
ORIGINAL LOAN-TO-VALUE MORTGAGE BALANCE PERCENT OF
RATIOS(%) LOANS OUTSTANDING MORTGAGE POOL
- -------------------------- --------- ---------------- -------------
50.00 and Below........ 111 $28,377,260.25 19.38%
50.01-55.00............ 49 13,438,677.60 9.18%
55.01-60.00............ 49 13,380,579.34 9.14%
60.01-65.00............ 56 14,638,272.56 10.00%
65.01-70.00............ 76 20,132,263.42 13.75%
70.01-75.00............ 82 20,103,258.96 13.73%
75.01-80.00............ 129 30,583,644.96 20.90%
80.01-85.00............ 6 1,481,376.22 1.01%
85.01-90.00............ 21 4,265,722.03 2.91%
--------- ---------------- -------------
Total.................. 579 $146,401,055.34 100.00%
========= ================ =============
______________
(1) The weighted average original Loan-to-Value Ratio of the Mortgage Loans is
approximately 63.62%.
DOCUMENTATION PROGRAM FOR MORTGAGE LOANS
----------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL
MORTGAGE BALANCE PERCENT OF
TYPE OF PROGRAM LOANS OUTSTANDING MORTGAGE POOL
-------------------- --------- -------------- -------------
Full................ 284 $73,704,280.82 50.35%
Alternative......... 231 59,225,086.63 40.45%
Reduced............. 30 5,332,157.43 3.64%
Streamlined......... 34 8,139,530.46 5.56%
--------- -------------- -------------
Total............... 579 146,401,055.34 100.00%
========= ============== =============
STATE DISTRIBUTION OF MORTGAGED PROPERTIES(1)
------------------------------------------------------------------------
AGGREGATE PERCENT
NUMBER OF PRINCIPAL OF
MORTGAGE BALANCE MORTGAGE
STATE LOANS OUTSTANDING POOL
- ----------------------- --------- ---------------- ----------
California............. 294 $79,754,174.85 54.48%
Connecticut............ 11 3,516,815.77 2.40%
Florida................ 32 7,597,676.50 5.19%
Georgia................ 15 3,430,546.78 2.34%
Illinois............... 19 4,508,566.18 3.08%
Maryland............... 12 3,063,187.04 2.09%
Massachusetts.......... 29 6,162,689.85 4.21%
New Jersey............. 15 3,435,808.51 2.35%
New York............... 14 3,274,335.32 2.24%
Texas.................. 24 5,574,063.64 3.81%
Washington............. 15 3,608,221.91 2.46%
Other (less than 2%)... 99 22,474,968.99 15.35%
--------- ---------------- ----------
Total.................. 579 $146,401,055.34 100.00%
========= ================ ==========
______________
(1) Other includes 24 other states with under 2.0% concentration individually.
No more than approximately 2.19% of the Mortgage Loans will be secured by
Mortgaged Properties located in any one postal zip code area.
TYPES OF MORTGAGED PROPERTIES
----------------------------------------------------------------------------
AGGREGATE PERCENT
NUMBER OF PRINCIPAL OF
MORTGAGE BALANCE MORTGAGE
PROPERTY TYPE LOANS OUTSTANDING POOL
- ---------------------------------- --------- ----------------- --------
Single Family..................... 467 $119,267,266.96 81.46%
Condominium....................... 13 2,995,419.35 2.05%
Planned Unit Development (PUD).... 99 24,138,369.03 16.49%
--------- ----------------- --------
Total............................. 579 $146,401,055.34 100.00%
========= ================= ========
PURPOSE OF MORTGAGE LOANS
-----------------------------------------------------------------------------
AGGREGATE
PRINCIPAL
MORTGAGE BALANCE PERCENT OF
LOAN PURPOSE LOANS OUTSTANDING MORTGAGE POOL
- ------------------------- -------- ----------------- -------------
Purchase............... 42 $9,864,323.74 6.74%
Refinance (rate/term).. 448 113,283,955.26 77.38%
Refinance (cash-out)... 89 23,252,776.34 15.88%
-------- ----------------- -------------
Total.................. 579 $146,401,055.34 100.00%
======== ================= =============
OCCUPANCY TYPES(1)
----------------------------------------------------------------------------
AGGREGATE PERCENT
NUMBER OF PRINCIPAL OF
MORTGAGE BALANCE MORTGAGE
OCCUPANCY TYPE LOANS OUTSTANDING POOL
----------------------- --------- --------------- --------
Primary Residence... 575 $145,475,607.13 99.37%
Second Residence.... 4 925,448.21 0.63%
--------- --------------- --------
Total............... 579 $146,401,055.34 100.00%
========= =============== ========
_______________
(1) Based upon representations of the related Mortgagors at
the time of origination.
ORIGINAL TERMS TO MATURITY(1)
--------------------------------------------------------------------------
AGGREGATE
NUMBER OF PRINCIPAL
ORIGINAL TERM TO MORTGAGE BALANCE PERCENT OF
MATURITY (MONTHS) LOANS OUTSTANDING MORTGAGE POOL
- ----------------------- --------- --------------- -------------
180................... 577 $145,872,801.23 99.64%
120................... 2 528,254.11 0.36%
--------- --------------- -------------
Total................. 579 $146,401,055.34 100.00%
========= =============== =============
______________
(1) As of the Reference Date, the weighted average remaining term to maturity
of the Mortgage Loans is expected to be approximately 121 months.
<PAGE>
EXHIBIT 2
THE BANK OF NEW YORK
101 BARCLAY STREET
NEW YORK, NEW YORK 10286
KELLY SHEAHAN
212-815-2007
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1994-2
Certificateholder Monthly Distribution Summary
Distribution Date: November 25, 1998
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Certificateholder Monthly Distribution Summary
- --------------- ---------------- --------------- -------------- -------------------- ------------- ------------------
CLASS CUSIP CLASS CERTIFICATE BEGINNING BALANCE PASS PRINCIPAL
DESCRIPTION RATE TYPE THROUGH DISTRIBUTION
RATE (%)
- --------------- ---------------- --------------- -------------- -------------------- ------------- ------------------
<S> <C> <C> <C> <C> <C> <C>
1 126690RX6 Senior Fix-30/360 0.00 6.500000 0.00
2 126690RY4 Senior Fix-30/360 0.00 6.500000 0.00
3 126690RZ1 Senior Fix-30/360 0.00 6.500000 0.00
4 126690SA5 Senior Fix-30/360 0.00 6.500000 0.00
5 126690SB3 Senior Fix-30/360 0.00 6.500000 0.00
6 126690SC1 Senior Fix-30/360 0.00 6.500000 0.00
7 126690SD9 Senior Fix-30/360 0.00 6.500000 0.00
8 126690SE7 Senior Fix-30/360 8,112,113.40 6.500000 2,613,102.96
9A 126690SF4 Senior Fix-30/360 23,045,257.27 6.500000 0.00
9B 126690SG2 Senior Fix-30/360 27,973,000.00 6.500000 0.00
10 126690SH0 Senior Fix-30/360 5,754,000.00 6.500000 0.00
10A 126690SJ6 Senior Fix-30/360 40,284,000.00 6.500000 0.00
11 126690SK3 Senior Fix-30/360 13,011,000.00 6.500000 0.00
12F 126690SL1 Senior Var-30/360 13,829,972.84 5.999000 0.00
12T 126690SM9 Senior Var-30/360 3,303,827.09 9.000000 0.00
12S 126690SN7 Senior Var-30/360 5,206,926.23 6.244413 0.00
PO 126690SP2 Strip PO Fix-30/360 3,255,183.56 0.000000 37,971.91
X 126690SQ0 Strip IO Fix-30/360 58,606,195.08 0.306362 0.00
AR 126690SR8 Senior Fix-30/360 1,000.00 6.500000 0.00
- --------------- ---------------- --------------- -------------- -------------------- ------------- ------------------
B1 126690SS6 Junior Fix-30/360 4,730,742.62 6.500000 29,175.84
B2 Junior Fix-30/360 577,846.56 6.500000 3,563.74
- --------------- ---------------- --------------- -------------- -------------------- ------------- ------------------
Totals 149,084,869.57 2,683,814.45
- --------------- ---------------- --------------- -------------- -------------------- ------------- ------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Certificateholder Monthly Distribution Summary
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
CLASS INTEREST TOTAL DISTRIBUTION CURRENT REALIZED ENDING BALANCE CUMULATIVE
DISTRIBUTION LOSSES REALIZED LOSSES
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
<S> <C> <C> <C> <C> <C>
1 0.00 0.00 0.00 0.00 0.00
2 0.00 0.00 0.00 0.00 0.00
3 0.00 0.00 0.00 0.00 0.00
4 0.00 0.00 0.00 0.00 0.00
5 0.00 0.00 0.00 0.00 0.00
6 0.00 0.00 0.00 0.00 0.00
7 0.00 0.00 0.00 0.00 0.00
8 43,940.61 2,657,043.57 0.00 5,499,010.44 0.00
9A 124,828.48 124,828.48 0.00 23,045,257.27 0.00
9B 151,520.42 151,520.42 0.00 27,973,000.00 0.00
10 31,167.50 31,167.50 0.00 5,754,000.00 0.00
10A 218,205.00 218,205.00 0.00 40,284,000.00 0.00
11 70,476.25 70,476.25 0.00 13,011,000.00 0.00
12F 69,138.34 69,138.34 0.00 13,829,972.84 0.00
12T 24,778.70 24,778.70 0.00 3,303,827.09 0.00
12S 27,095.17 27,095.17 0.00 5,206,926.23 0.00
PO 0.00 37,971.91 0.00 3,217,211.65 0.00
X 14,962.24 14,962.24 0.00 56,980,738.26 0.00
AR 5.63 5.63 0.00 1,000.00 0.00
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
B1 25,624.86 54,800.69 0.00 4,701,566.78 0.00
B2 3,130.00 6,693.75 0.00 574,282.81 1,934.99
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
Totals 804,873.20 3,488,687.65 0.00 146,401,055.11 1,934.99
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Principal Distribution Detail
- --------------- ---------------- -------------------- -------------------- --------------------- --------------------
CLASS CUSIP ORIGINAL BEGINNING SCHEDULED PRINCIPAL ACCRETION PRINCIPAL
CERTIFICATE BALANCE CERTIFICATE BALANCE DISTRIBUTION
- --------------- ---------------- -------------------- -------------------- --------------------- --------------------
<S> <C> <C> <C> <C> <C>
1 126690RX6 21,017,000.00 0.00 0.00 0.00
2 126690RY4 6,505,000.00 0.00 0.00 0.00
3 126690RZ1 6,405,000.00 0.00 0.00 0.00
4 126690SA5 6,705,000.00 0.00 0.00 0.00
5 126690SB3 7,506,000.00 0.00 0.00 0.00
6 126690SC1 7,506,000.00 0.00 0.00 0.00
7 126690SD9 36,631,000.00 0.00 0.00 0.00
8 126690SE7 10,108,000.00 8,112,113.40 2,613,102.96 0.00
9A 126690SF4 24,771,000.00 23,045,257.27 0.00 0.00
9B 126690SG2 27,973,000.00 27,973,000.00 0.00 0.00
10 126690SH0 5,754,000.00 5,754,000.00 0.00 0.00
10A 126690SJ6 40,284,000.00 40,284,000.00 0.00 0.00
11 126690SK3 13,011,000.00 13,011,000.00 0.00 0.00
12F 126690SL1 14,849,078.00 13,829,972.84 0.00 0.00
12T 126690SM9 3,547,280.00 3,303,827.09 0.00 0.00
12S 126690SN7 5,590,615.00 5,206,926.23 0.00 0.00
PO 126690SP2 5,174,764.91 3,255,183.56 37,971.91 0.00
X 126690SQ0 104,031,575.00 58,606,195.08 0.00 0.00
AR 126690SR8 1,000.00 1,000.00 0.00 0.00
- --------------- ---------------- -------------------- -------------------- --------------------- --------------------
B1 126690SS6 6,130,000.00 4,730,742.62 29,175.84 0.00
B2 751,044.00 577,846.56 3,563.74 0.00
- --------------- ---------------- -------------------- -------------------- --------------------- --------------------
Totals 250,219,781.91 149,084,869.57 2,683,814.45 0.00
- --------------- ---------------- -------------------- -------------------- --------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Principal Distribution Detail
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
CLASS UNSCHEDULED NET PRINCIPAL CURRENT REALIZED ENDING ENDING CERTIFICATE
PRINCIPAL DISTRIBUTION LOSSES CERTIFICATE FACTOR
ADJUSTMENTS BALANCE
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
<S> <C> <C> <C> <C> <C>
1 0.00 0.00 0.00 0.00 0.00000000000
2 0.00 0.00 0.00 0.00 0.00000000000
3 0.00 0.00 0.00 0.00 0.00000000000
4 0.00 0.00 0.00 0.00 0.00000000000
5 0.00 0.00 0.00 0.00 0.00000000000
6 0.00 0.00 0.00 0.00 0.00000000000
7 0.00 0.00 0.00 0.00 0.00000000000
8 0.00 2,613,102.96 0.00 5,499,010.44 0.54402556830
9A 0.00 0.00 0.00 23,045,257.27 0.93033213314
9B 0.00 0.00 0.00 27,973,000.00 1.00000000000
10 0.00 0.00 0.00 5,754,000.00 1.00000000000
10A 0.00 0.00 0.00 40,284,000.00 1.00000000000
11 0.00 0.00 0.00 13,011,000.00 1.00000000000
12F 0.00 0.00 0.00 13,829,972.84 0.93136912878
12T 0.00 0.00 0.00 3,303,827.09 0.93136913071
12S 0.00 0.00 0.00 5,206,926.23 0.93136913023
PO 0.00 37,971.91 0.00 3,217,211.65 0.62171165317
X 0.00 0.00 0.00 56,980,738.26 0.54772542144
AR 0.00 0.00 0.00 1,000.00 1.00000000000
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
B1 0.00 29,175.84 0.00 4,701,566.78 0.76697663573
B2 0.00 3,563.74 0.00 574,282.81 0.76464602811
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
Totals 0.00 2,683,814.45 0.00 146,401,055.11
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Interest Distribution Detail
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
CLASS BEGINNING PASS THROUGH RATE ACCRUED OPTIMAL CUMULATIVE UNPAID DEFERRED INTEREST
CERTIFICATE (%) INTEREST INTEREST
BALANCE
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
<S> <C> <C> <C> <C> <C>
1 0.00 6.500000 0.00 0.00 0.00
2 0.00 6.500000 0.00 0.00 0.00
3 0.00 6.500000 0.00 0.00 0.00
4 0.00 6.500000 0.00 0.00 0.00
5 0.00 6.500000 0.00 0.00 0.00
6 0.00 6.500000 0.00 0.00 0.00
7 0.00 6.500000 0.00 0.00 0.00
8 8,112,113.40 6.500000 43,940.61 0.00 0.00
9A 23,045,257.27 6.500000 124,828.48 0.00 0.00
9B 27,973,000.00 6.500000 151,520.42 0.00 0.00
10 5,754,000.00 6.500000 31,167.50 0.00 0.00
10A 40,284,000.00 6.500000 218,205.00 0.00 0.00
11 13,011,000.00 6.500000 70,476.25 0.00 0.00
12F 13,829,972.84 5.999000 69,138.34 0.00 0.00
12T 3,303,827.09 9.000000 24,778.70 0.00 0.00
12S 5,206,926.23 6.244413 27,095.17 0.00 0.00
PO 3,255,183.56 0.000000 0.00 0.00 0.00
X 58,606,195.08 0.306362 14,962.24 0.00 0.00
AR 1,000.00 6.500000 5.42 0.00 0.00
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
B1 4,730,742.62 6.500000 25,624.86 0.00 0.00
B2 577,846.56 6.500000 3,130.00 0.00 0.00
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
Totals 149,084,869.57 804,872.99 0.00 0.00
- --------------- ------------------- ------------------- -------------------- ------------------- --------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Interest Distribution Detail
- --------------- ------------------- ------------------- -------------------- -------------------
CLASS TOTAL NET UNSCHEDULED INTEREST
INTEREST PREPAYMENT INT INTEREST ADJUSTMENT PAID
DUE SHORTFALL
- --------------- ------------------- ------------------- -------------------- -------------------
<S> <C> <C> <C> <C>
1 0.00 0.00 0.00 0.00
2 0.00 0.00 0.00 0.00
3 0.00 0.00 0.00 0.00
4 0.00 0.00 0.00 0.00
5 0.00 0.00 0.00 0.00
6 0.00 0.00 0.00 0.00
7 0.00 0.00 0.00 0.00
8 43,940.61 0.00 0.00 43,940.61
9A 124,828.48 0.00 0.00 124,828.48
9B 151,520.42 0.00 0.00 151,520.42
10 31,167.50 0.00 0.00 31,167.50
10A 218,205.00 0.00 0.00 218,205.00
11 70,476.25 0.00 0.00 70,476.25
12F 69,138.34 0.00 0.00 69,138.34
12T 24,778.70 0.00 0.00 24,778.70
12S 27,095.17 0.00 0.00 27,095.17
PO 0.00 0.00 0.00 0.00
X 14,962.24 0.00 0.00 14,962.24
AR 5.42 0.00 0.00 5.63
- --------------- ------------------- ------------------- -------------------- -------------------
B1 25,624.86 0.00 0.00 25,624.86
B2 3,130.00 0.00 0.00 3,130.00
- --------------- ------------------- ------------------- -------------------- -------------------
Totals 804,872.99 0.00 0.00 804,873.20
- --------------- ------------------- ------------------- -------------------- -------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Current Payment Information
Factors per $1,000
- --------------- ---------------- -------------------- -------------------- ---------------------
CLASS CUSIP ORIGINAL BEGINNING CERT. PRINCIPAL
CERTIFICATE BALANCE NOTIONAL DISTRIBUTION
BALANCE
- --------------- ---------------- -------------------- -------------------- ---------------------
<S> <C> <C> <C> <C>
1 126690RX6 21,017,000.00 0.000000000 0.000000000
2 126690RY4 6,505,000.00 0.000000000 0.000000000
3 126690RZ1 6,405,000.00 0.000000000 0.000000000
4 126690SA5 6,705,000.00 0.000000000 0.000000000
5 126690SB3 7,506,000.00 0.000000000 0.000000000
6 126690SC1 7,506,000.00 0.000000000 0.000000000
7 126690SD9 36,631,000.00 0.000000000 0.000000000
8 126690SE7 10,108,000.00 802.543866524 258.518298227
9A 126690SF4 24,771,000.00 930.332133140 0.000000000
9B 126690SG2 27,973,000.00 1,000.000000000 0.000000000
10 126690SH0 5,754,000.00 1,000.000000000 0.000000000
10A 126690SJ6 40,284,000.00 1,000.000000000 0.000000000
11 126690SK3 13,011,000.00 1,000.000000000 0.000000000
12F 126690SL1 14,849,078.00 931.369128777 0.000000000
12T 126690SM9 3,547,280.00 931.369130714 0.000000000
12S 126690SN7 5,590,615.00 931.369130230 0.000000000
PO 126690SP2 5,174,764.91 629.049553304 7.337900137
X 126690SQ0 104,031,575.00 563.350070207 0.000000000
AR 126690SR8 1,000.00 1,000.000000000 0.000000000
- --------------- ---------------- -------------------- -------------------- ---------------------
B1 126690SS6 6,130,000.00 771.736152672 4.759516944
B2 751,044.00 769.391082334 4.745054227
- --------------- ---------------- -------------------- -------------------- ---------------------
Totals 250,219,781.91 595.815680247 10.725828428
- --------------- ---------------- -------------------- -------------------- ---------------------
</TABLE>
<PAGE>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
Current Payment Information
Factors per $1,000
- --------------- -------------------- -------------------- --------------------
CLASS INTEREST ENDING CERT. PASS
DISTRIBUTION NOTIONAL THROUGH
BALANCE RATE (%)
- --------------- -------------------- -------------------- --------------------
1 0.000000000 0.000000000 6.500000
2 0.000000000 0.000000000 6.500000
3 0.000000000 0.000000000 6.500000
4 0.000000000 0.000000000 6.500000
5 0.000000000 0.000000000 6.500000
6 0.000000000 0.000000000 6.500000
7 0.000000000 0.000000000 6.500000
8 4.347112610 544.025568297 6.500000
9A 5.039299055 930.332133140 6.500000
9B 5.416666667 1,000.000000000 6.500000
10 5.416666667 1,000.000000000 6.500000
10A 5.416666667 1,000.000000000 6.500000
11 5.416666667 1,000.000000000 6.500000
12F 4.656069503 931.369128777 5.999000
12T 6.985268480 931.369130714 9.000000
12S 4.846544642 931.369130230 6.244413
PO 0.000000000 621.711653167 0.000000
X 0.143824023 547.725421441 0.306362
AR 5.633085482 1,000.000000000 6.500000
- --------------- -------------------- -------------------- --------------------
B1 4.180237494 766.976635728 6.500000
B2 4.167535029 764.646028107 6.500000
- --------------- -------------------- -------------------- --------------------
Totals 3.216664941 585.089851779
- --------------- -------------------- -------------------- --------------------
<PAGE>
<TABLE>
<CAPTION>
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES
SERIES 1994-2
POOL LEVEL DATA
<S> <C>
Distribution Date 11/25/98
Cut-off Date 1/1/94
Determination Date 11/1/98
Accrual Period Begin 10/1/98
End 11/1/98
Number of Days in Accrual Period 31
- -----------------------------------------------------------------------------------------------
COLLATERAL INFORMATION
- -----------------------------------------------------------------------------------------------
GROUP 1
- -------
Cut-Off Date Balance 250,219,781.85
Beginning Aggregate Pool Stated Principal Balance 149,084,869.64
Ending Aggregate Pool Stated Principal Balance 146,401,055.19
Beginning Aggregate Certificate Stated Principal Balance 149,084,869.56
Ending Aggregate Certificate Stated Principal Balance 146,401,055.11
Beginning Aggregate Loan Count 590
Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement 3
Ending Aggregate Loan Count 587
Beginning Weighted Average Loan Rate (WAC) 6.741509%
Ending Weighted Average Loan Rate (WAC) 6.740111%
Beginning Net Weighted Average Loan Rate 6.478509%
Ending Net Weighted Average Loan Rate 6.477111%
Weighted Average Maturity (WAM) (Months) 302
Servicer Advances 0.00
Aggregate Pool Prepayment 1,764,408.95
- -----------------------------------------------------------------------------------------------
CERTIFICATE INFORMATION
- -----------------------------------------------------------------------------------------------
GROUP 1
- -------
Senior Percentage 96.3597335238%
Senior Prepayment Percentage 100.0000000000%
Subordinate Percentage 3.6402664762%
Subordinate Prepayment Percentage 0.0000000000%
CERTIFICATE ACCOUNT
BEGINNING BALANCE 0.00
DEPOSIT
Payments of Interest and Principal 3,518,025.27
Liquidation Proceeds 0.00
All Other Proceeds 0.00
Other Amounts 0.00
---------------
TOTAL DEPOSITS 3,518,025.27
WITHDRAWALS
Reimbursement of Servicer Advances 0.00
Payment of Master Servicer Fees 43,799.68
Payment of Sub Servicer Fees 0.00
Payment of Other Fees 0.00
Payment of Insurance Premium(s) 0.00
Payment of Personal Mortgage Insurance 0.00
Other Permitted Withdrawal per the Pooling and Servicing Agreement 0.00
Payment of Principal and Interest 3,488,687.65
---------------
TOTAL WITHDRAWALS 3,532,487.32
ENDING BALANCE -14,462.05
PREPAYMENT COMPENSATION
Total Gross Prepayment Interest Shortfall 2,221.91
Compensation for Gross PPIS from Servicing Fees 1,721.72
Other Gross PPIS Compensation 0.00
---------------
TOTAL NET PPIS (NON-SUPPORTED PPIS) 500.19
Master Servicing Fees Paid 43,799.68
Sub Servicing Fees Paid 0.00
Insurance Premium(s) Paid 0.00
Personal Mortgage Insurance Fees Paid 0.00
Other Fees Paid 0.00
---------------
TOTAL FEES 43,799.68
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- -----------------------------------------------------------------------------------------------
GROUP 1
- -------
DELINQUENCY 30 - 59 DAYS 60 - 89 DAYS 90+ DAYS TOTALS
- ----------- ------------ ------------ -------- ------
<S> <C> <C> <C> <C>
Scheduled Principal Balance 0.00 0.00 0.00 0.00
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.000000%
Number of Loans 0 0 0 0
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.000000%
FORECLOSURE
- -----------
Scheduled Principal Balance 0.00 0.00 0.00 0.00
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.000000%
Number of Loans 0 0 0 0
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.000000%
BANKRUPTCY
- ----------
Scheduled Principal Balance 0.00 0.00 0.00 0.00
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.000000%
Number of Loans 0 0 0 0
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.000000%
REO
- ---
Scheduled Principal Balance 0.00 0.00 0.00 0.00
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.000000%
Number of Loans 0 0 0 0
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.000000%
Book Value of all REO Loans 0.00
Percentage of Total Pool Balance 0.000000%
Current Realized Losses 0.00
Additional Gains (Recoveries)/Losses 0.00
Total Realized Losses 1,934.99
</TABLE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------
SUBORDINATION/CREDIT ENHANCEMENT INFORMATION
- -----------------------------------------------------------------------------------------------
PROTECTION ORIGINAL CURRENT
- ---------- -------- -------
<S> <C> <C>
Bankruptcy Loss 100,000.00 100,000.00
Bankruptcy Percentage 0.039965% 0.068306%
Credit/Fraud Loss 5,005,180.00 1,251,098.91
Credit/Fraud Loss Percentage 2.000313% 0.854570%
Special Hazard Loss 4,931,521.00 1,539,179.96
Special Hazard Loss Percentage 1.970876% 1.051345%
CREDIT SUPPORT ORIGINAL CURRENT
- -------------- -------- -------
Class A 243,338,737.91 141,125,205.52
Class A Percentage 97.250000% 96.396304%
Class B1 6,130,000.00 4,701,566.78
Class B1 Percentage 2.449846% 3.211430%
Class B2 751,044.00 574,282.81
Class B2 Percentage 0.300154% 0.392267%
</TABLE>
