SUPPLEMENT
TO PROSPECTUS SUPPLEMENT DATED April 22, 1994
(To Prospectus dated January 14, 1994)
CWMBS, INC.
Depositor
Countrywide
Home Loans, Inc.
Seller and Master Servicer
Mortgage Pass-Through Certificates, Series 1994-13
The Class A-4 Certificates
The Class A-4 o This supplement relates to the
certificates represent offering of the Class A-4 certificates
obligations of the trust of the series referenced above. This
only and do not represent supplement does not contain complete
an interest in or obligation information about the offering of the
of CWMBS, Inc., Countrywide Class A-4 certificates. Additional
Home Loans, Inc. or any of information is contained in the
their affiliates. prospectus supplement dated April 22,
1994 prepared in connection with the
This supplement may be offering of the offered certificates
used to offer and sell of the series referenced above and in
the offered certificates the prospectus of the depositor dated
only if accompanies by January 14, 1994. You are urged to
the prospectus supplement read this supplement, the prospectus
and the prospectus. supplement and the prospectus in full.
o As of the November 25, 1999, the class
certificate balance of the Class A-4
certificates was approximately
$15,694,869.30.
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-4
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 17, 1999
THE MORTGAGE POOL
As of November 1, 1999 (the "Reference Date"), the Mortgage Pool included
approximately 697 Mortgage Loans having an aggregate Stated Principal Balance
of approximately $108,133,453.
The following table summarizes the delinquency and foreclosure
experience of the Mortgage Loans as of the Reference Date.
As of
November 1, 1999
Total Number of Mortgage Loans.......................... 697
Delinquent Mortgage Loans and Pending Foreclosures
at Period End (1)
30-59 days........................................... 0.57%
60-90 days........................................... 0.14%
91 days or more (excluding pending foreclosures)..... 0.00%
-----
Total Delinquencies.................................. 0.71%
=====
Foreclosures Pending.................................... 0.00%
-----
Total Delinquencies and foreclosures pending............ 0.71%
=====
- --------------
(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. (formerly Countrywide Funding Corporation)
will continue to act as Master Servicer under the Agreement.
Foreclosure and Delinquency Experience
The following table summarizes the delinquency and foreclosure
experience, respectively, on the dates indicated, of conventional 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
$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, to
approximately $215.5 billion at February 28, 1999 and to approximately $236.4
billion at August 31, 1999. 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 and delinquency 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,
---------------------------------------------------------
1996 1997 1998 1999 1999
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Delinquent Mortgage Loans and Pending
Foreclosures at Period End(1):
30-59 days.............................. 2.13% 2.26% 2.68% 3.05% 2.87%
60-89 days.............................. 0.48 0.52 0.58 0.21 0.20
90 days or more (excluding pending
foreclosures)...................... 0.59 0.66 0.65 0.29 0.29
---- ---- ---- ---- ----
Total of delinquencies.................. 3.20% 3.44% 3.91% 3.55% 3.36%
==== ==== ==== ==== ====
Foreclosures pending.................... 0.49% 0.71% 0.45% 0.31% 0.28%
==== ==== ==== ==== ====
Total delinquencies and foreclosures
pending............................ 3.69% 4.15% 4.36% 3.86% 3.64%
==== ==== ==== ==== ====
</TABLE>
- --------------
(1) As a percentage of the total number of loans serviced 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 A-4 Certificates.
DESCRIPTION OF THE CLASS A-4 CERTIFICATES
The Class A-4 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-4 Certificates are Primary Planned Principal Class Certificates.
The Planned Balances for the Class A-4 Certificates are set forth in the
Principal Balance Schedules in the Prospectus Supplement. The Class A-4
Certificates are allocated principal payments as described in the Prospectus
Supplement under "Description of the Certificates -- Principal".
As of November 25, 1999 (the "Certificate Date"), the Class
Certificate Balance of the Class A-4 Certificates was approximately
$15,694,869, evidencing a beneficial ownership interest of approximately
14.51% in the Trust Fund. As of the Certificate Date, the Senior Certificates
had an aggregate principal balance of approximately $103,270,839 and evidenced
in the aggregate a beneficial ownership interest of approximately 95.50% in
the Trust Fund. As of the Certificate Date, the Subordinated Certificates had
an aggregate principal balance of $4,862,614, and evidenced in the aggregate a
beneficial ownership interest of approximately 4.50% in the Trust Fund. For
additional information with respect to the Class A-4 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:
Original Term to Remaining Term to
Principal Adjusted Net Maturity (in Maturity (in
Balance Mortgage Rate Mortgage Rate months) months)
- -------------- ---------------- -------------- -------------- -------------
$73,529,481.86 7.317292114% 7.066042114% 180 111
$34,603,970.92 6.578073459% 6.326823459% 180 112
(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-4 Certificates is $15,694,869.30, (ix)
interest accrues on the Class A-4 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 and Segments are as set forth in the Principal Balance
Schedules, (xii) the closing date of the sale of the Offered Certificates is
December 15, 1999, (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, 300% SPA assumes prepayment rates will
be 0.6% per annum in month one, 1.2% per annum in month two, and increasing by
0.6% in each succeeding month until reaching a rate of 18.0% per annum in
month 30 and remaining constant at 18.0% 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 Table
The following table indicates the percentage of the Certificate Date
Class Certificate Balance of the Class A-4 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-4
SPA Prepayment Assumption
---------------------------------------
Distribution Date 0% 115% 300% 400% 550%
----------------- -- ---- ---- ---- ----
Initial Percent.................... 100 100 100 100 100
November 25, 2000.................. 49 16 17 17 17
November 25, 2001.................. 0 0 0 0 0
November 25, 2002.................. 0 0 0 0 0
November 25, 2003.................. 0 0 0 0 0
November 25, 2004.................. 0 0 0 0 0
November 25, 2005.................. 0 0 0 0 0
November 25, 2006.................. 0 0 0 0 0
November 25, 2007.................. 0 0 0 0 0
November 25, 2008.................. 0 0 0 0 0
November 25, 2009.................. 0 0 0 0 0
Weighted Average Life (years)**.... 1.0 0.6 0.6 0.6 0.6
- --------------------------
* 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 $1,493,103 and $100,000 and $0, respectively.
CERTAIN FEDERAL INCOME TAX CONSEQUENCES
Prospective investors should consider carefully the income tax
consequences of an investment in the Class A-4 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-4 Certificates. In addition,
the OID Regulations do not adequately address the calculation of income with
respect to prepayable securities such as the Class A-4 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-4 Certificates consult their tax advisors
regarding the possible application of the Amortizable Bond Premium Regulations.
The Class A-4 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, 2000, subject to certain transition rules.
ERISA CONSIDERATIONS
Prospective purchasers of the Class A-4 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 Exemptions will apply to the acquisition and holding of Class A-4
Certificates by Plans and that all conditions of the Exemptions other than
those within the control of purchasers of the Certificates will be met.
RATINGS
The Class A-4 Certificates are currently rated "AAA" by Duff & Phelps
Credit Rating Company and "AAA" by Standard & Poor's Rating Services, a
division of The McGraw-Hill Companies, Inc. 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-4
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.
EXHIBIT 1
MORTGAGE RATES(1)
Number of Percent of
Mortgage Aggregate Principal Mortgage
Mortgage Rates (%) Loans Balance Outstanding Pool
6.000 3 $ 624,734.11 0.58%
6.125 10 1,728,554.62 1.60%
6.250 14 2,710,419.83 2.51%
6.375 12 2,234,984.91 2.07%
6.500 26 5,804,883.46 5.37%
6.625 28 6,047,149.52 5.59%
6.750 71 15,453,244.47 14.29%
6.875 45 9,252,857.39 8.56%
7.000 71 14,823,905.43 13.71%
7.125 27 6,040,779.46 5.59%
7.250 49 11,346,057.19 10.49%
7.375 26 6,294,137.23 5.82%
7.500 29 5,159,037.85 4.77%
7.625 63 7,382,874.48 6.83%
7.750 100 6,313,260.20 5.84%
7.875 60 3,916,312.48 3.62%
8.000 43 2,157,342.85 2.00%
8.125 9 442,375.14 0.41%
8.250 8 287,766.07 0.27%
8.375 1 66,699.20 0.06%
8.500 1 30,335.10 0.03%
8.750 1 15,741.79 0.01%
- ------------------------------------------------------------------
Total 697 $ 108,133,452.78 100.00%
==================================================================
(1) As of the Reference Date, the weighted average Mortgage Rate of the
Mortgage Loans is approximately 7.09% per annum.
CURRENT MORTGAGE LOAN PRINCIPAL BALANCES(1)
Number of
Mortgage Aggregate Percent of
Current Mortgage Loans Principal Balance Mortgage
Loan Amounts Outstanding Pool
$0 -- $50,000 160 $ 4,613,235.70 4.27%
$50,001 -- $100,000 104 7,305,759.85 6.76%
$100,001 -- $150,000 42 5,331,697.24 4.93%
$150,001 -- $200,000 185 32,419,832.68 29.98%
$200,001 -- $250,000 105 23,384,216.67 21.63%
$250,001 -- $300,000 43 11,642,464.80 10.77%
$300,001 -- $350,000 21 6,826,739.97 6.31%
$350,001 -- $400,000 13 4,836,665.04 4.47%
$400,001 -- $450,000 8 3,440,874.85 3.18%
$450,001 -- $500,000 8 3,742,925.20 3.46%
$500,001 -- $550,000 3 1,558,073.47 1.44%
$550,001 -- $600,000 3 1,692,402.96 1.57%
$600,001 -- $650,000 1 639,586.09 0.59%
$650,001 -- $750,000 1 698,978.26 0.65%
- -----------------------------------------------------------------------
Total 697 $108,133,452.78 100.00%
=======================================================================
(1) As of the Reference Date, the average current Mortgage Loan principal
balance is approximately $155,141.25.
ORIGINAL LOAN-TO-VALUE RATIOS(1)
Original Loan-to-Value Number of Aggregate Principal Percent of
Ratios (%) Mortgage Balance Outstanding Mortgage
Loans Pool
50.00 and below 273 $ 21,385,753.40 19.78%
50.01 to 55.00 53 8,212,283.80 7.59%
55.01 to 60.00 68 11,362,251.99 10.51%
60.01 to 65.00 43 11,213,942.38 10.37%
65.01 to 70.00 62 13,765,294.52 12.73%
70.01 to 75.00 60 13,255,423.27 12.26%
75.01 to 80.00 109 23,637,401.51 21.86%
80.01 to 85.00 6 1,057,279.71 0.98%
85.01 to 90.00 23 4,243,822.20 3.92%
- -------------------------------------------------------------------------------
Total 697 $ 108,133,452.78 100.00%
===============================================================================
(1) The weighted average original Loan-to-Value Ratio of the Mortgage Loans
is approximately 63.30%.
DOCUMENTATION PROGRAM FOR MORTGAGE LOANS
Number of Percent of
Mortgage Aggregate Principal Mortgage
Type of Program Loans Balance Outstanding Pool
Full 229 $51,816,798.08 47.92%
Alternative 142 31,437,409.53 29.07%
Reduced 44 6,331,791.58 5.86%
Streamlined 282 18,547,453.59 17.15%
=============================================================================
Total 697 $ 108,133,452.78 100.00%
=============================================================================
STATE DISTRIBUTION OF MORTGAGED PROPERTIES
State Number of Aggregate Principal Percent of
Mortgage Loans Balance Outstanding Mortgage
Pool
California 361 $ 47,426,049.49 43.86%
Connecticut 11 2,293,259.23 2.12%
Florida 17 3,399,520.77 3.14%
Illinois 28 4,563,702.89 4.22%
Indiana 9 2,214,874.36 2.05%
Massachusetts 31 6,033,679.16 5.58%
New Jersey 23 3,750,867.29 3.47%
New York 34 6,996,122.12 6.47%
Pennsylvania 17 2,920,720.95 2.70%
Texas 27 4,633,617.73 4.29%
Virginia 11 2,513,198.85 2.32%
Washington 12 2,789,698.32 2.58%
Other (less than 2%) 116 18,598,141.62 17.20%
===========================================================================
Total 697 $ 108,133,452.78 100.00%
===========================================================================
(1) Other includes 32 other states and the District of Columbia, with under
2% concentration individually.
Types of Mortgaged Properties
Number of
Mortgage Aggregate Percent of
Loans Principal Balance Mortgage
Property Type Outstanding Pool
Single Family 600 $90,617,293.62 83.80%
Condominium 20 1,753,490.36 1.62%
2-4 Family 1 48,101.28 0.04%
Planned Unit Development 76 15,714,567.52 14.53%
- -------------------------------------------------------------------------
Total 697 $108,133,452.78 100.00%
=========================================================================
PURPOSE OF MORTGAGE LOAN
Loan Purpose Number of Aggregate Principal Percent of
Mortgage Loans Balance Outstanding Mortgage
Pool
Purchase 52 $ 11,737,439.03 10.85%
Refinance (rate/term) 571 80,799,174.73 74.72%
Refinance (cash out) 74 15,596,839.02 14.42%
- ---------------------------------------------------------------------------
Total 697 $108,133,452.78 100.00%
===========================================================================
OCCUPANCY TYPES(1)
Occupancy count Balance percent
Primary Residence 689 $106,641,366.86 98.62%
Second Residence 8 1,492,085.92 1.38%
- ---------------------------------------------------------------------------
Total 697 $108,133,452.78 100.00%
===========================================================================
(1) Based upon representations of the related Mortgagors at the time of
origination.
ORIGINAL TERMS TO MATURITY(1)
Number of Percent of
Original Term to Maturity Mortgage Aggregate Principal Mortgage
(Months) Loans Balance Outstanding Pool
113 16 $ 2,922,016.56 2.70%
112 348 60,526,617.05 55.97%
111 266 35,947,712.40 33.24%
110 28 5,333,294.45 4.93%
109 9 1,799,224.64 1.66%
108 1 187,088.50 0.17%
107 1 199,242.19 0.18%
106 1 211,513.75 0.20%
102 1 234,373.44 0.22%
88 1 18,873.74 0.02%
87 2 116,753.27 0.11%
84 1 60,199.94 0.06%
78 1 39,226.44 0.04%
75 1 34,640.48 0.03%
52 12 241,400.48 0.22%
51 8 261,275.45 0.24%
- ------------------------------------------------------------------------------
Total 697 $108,133,452.78 100.00%
==============================================================================
(1) As of the Reference Date, the weighted average remaining term to maturity
of the Mortgage Loans is approximately 111 months.
EXHIBIT 2
------------------------------------------------------------
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES, SERIES 1994-13
------------------------------------------------------------
<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 A1 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A2 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A3 0.02 6.500000% 0.00 0.00 0.00 0.00 0.00
A4 16,623,616.99 6.500000% 928,747.69 90,044.59 1,018,792.28 0.00 0.00
A5 13,380,991.50 6.500000% 87,532.51 72,480.37 160,012.88 0.00 0.00
A6 1,048,000.00 6.500000% 0.00 5,676.67 5,676.67 0.00 0.00
A7 18,713,000.00 6.500000% 0.00 101,362.08 101,362.08 0.00 0.00
A8 7,628,440.38 6.500000% 0.00 41,320.72 41,320.72 0.00 0.00
A9 0.07 6.500000% 0.00 0.00 0.00 0.00 0.00
A10 4,373,607.40 6.500000% 6,855.66 23,690.37 30,546.03 0.00 0.00
A11 3,014,930.96 6.500000% 2,929.36 16,330.88 19,260.23 0.00 0.00
A12 1,389,037.96 6.500000% 0.00 7,523.96 7,523.96 0.00 0.00
A13 650,000.00 6.500000% 0.00 3,520.83 3,520.83 0.00 0.00
A14 10,645,127.76 5.912000% 0.00 52,445.00 52,445.00 0.00 0.00
A15 4,914,315.37 7.773684% 0.00 31,835.28 31,835.28 0.00 0.00
A16 20,992,917.00 6.500000% 0.00 113,711.63 113,711.63 0.00 0.00
PO 928,816.55 0.000000% 6,878.85 0.00 6,878.85 0.00 0.00
Residual AR 980.79 6.500000% 0.00 5.46 5.46 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M 2,968,052.33 6.500000% 23,347.35 16,076.95 39,424.30 0.00 0.00
B1 1,348,923.37 6.500000% 10,610.92 7,306.67 17,917.59 0.00 0.00
B2 584,192.26 6.500000% 4,595.38 3,164.37 7,759.76 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 109,204,950.70 - 1,071,497.72 586,495.83 1,657,993.55 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 0.00 0.00
A2 0.00 0.00
A3 0.02 0.00
A4 15,694,869.30 0.00
A5 13,293,458.99 0.00
A6 1,048,000.00 0.00
A7 18,713,000.00 0.00
A8 7,628,440.38 0.00
A9 0.07 0.00
A10 4,366,751.74 0.00
A11 3,012,001.60 0.00
A12 1,389,037.96 0.00
A13 650,000.00 0.00
A14 10,645,127.76 0.00
A15 4,914,315.37 0.00
A16 20,992,917.00 0.00
PO 921,937.70 0.00
Residual AR 980.79 0.00
- --------------------------------------------------------------------------------
Subordinate M 2,944,704.98 0.00
B1 1,338,312.45 0.00
B2 579,596.87 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 108,133,452.98 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES, SERIES 1994-13
------------------------------------------------------------
<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 A1 0.00 6.500000% 126690J72 0.000000 0.000000 0.000000
A2 0.00 6.500000% 126690J80 0.000000 0.000000 0.000000
A3 0.02 6.500000% 126690J98 0.000000 0.000000 0.000001
A4 16,623,616.99 6.500000% 126690K21 45.991269 4.458978 777.204581
A5 13,380,991.50 6.500000% 126690K39 3.414171 2.827068 518.506084
A6 1,048,000.00 6.500000% 126690K47 0.000000 5.416667 1,000.000000
A7 18,713,000.00 6.500000% 126690K54 0.000000 5.416667 1,000.000000
A8 7,628,440.38 6.500000% 126690K62 0.000000 1.157605 213.711735
A9 0.07 6.500000% 126690K70 0.000000 0.000000 0.000008
A10 4,373,607.40 6.500000% 126690K88 0.987847 3.413598 629.214948
A11 3,014,930.96 6.500000% 126690K96 0.292497 1.630642 300.749037
A12 1,389,037.96 6.500000% 126690L20 0.000000 0.750145 138.488331
A13 650,000.00 6.500000% 126690L38 0.000000 5.416667 1,000.000000
A14 10,645,127.76 5.912000% 126690L46 0.000000 4.721372 958.329831
A15 4,914,315.37 7.773684% 126690L53 0.000000 6.208127 958.329830
A16 20,992,917.00 6.500000% 126690L61 0.000000 5.312635 980.794104
PO 928,816.55 0.000000% 126690L79 4.222581 0.000000 565.931275
Residual AR 980.79 6.500000% N/A 0.000000 5.463685 980.790000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M 2,968,052.33 6.500000% 126690L95 5.656285 3.894910 713.404032
B1 1,348,923.37 6.500000% 126690M29 5.656285 3.894910 713.404040
B2 584,192.26 6.500000% N/A 5.249192 3.614586 662.059079
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 109,204,950.70 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
CWMBS INC
MORTGAGE PASS THROUGH CERTIFICATES, SERIES 1994-13
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 108,133,452.78 108,133,452.78
Aggregated loan count 697 697
Aggregated average loan rate 7.081343% 7.08
Aggregated prepayment amount 304,533.29 304,533.29
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 22,705.61 22,705.61
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 113.76 113.76
Aggregate advances N/A N/A
Advances this periods 9,507.89 9,507.89
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 51,577.00 51,577.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 100,000.00 100,000.00
Fraud 0.00 0.00
Special Hazard 1,493,103.00 1,493,103.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.545686% 98.642036% 104,303,782.74
-----------------------------------------------------------------------------
Junior 4.454314% 1.357964% 4,862,614.31
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 4 618,377.51
60 to 89 days 1 159,088.89
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 5 777,466.40
- --------------------------------------------------------------------------------
<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 1,657,993.55 1,657,993.55
Principal remittance amount 1,071,497.72 1,071,497.72
Interest remittance amount 586,495.83 586,495.83
