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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): February 23, 1999
CWMBS, INC., (as depositor under the Pooling and
Servicing Agreement, dated as of February 1, 1999,
providing for the issuance of the CWMBS, INC.,
Mortgage Pass-Through Certificates, Series 1999-3).
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 of 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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Item 5. Other Events.
Filing of Computational Materials
In connection with the offering of the Mortgage Pass-Through Certificates,
Series 1999-3, Lehman Brothers Inc. ("Lehman"), as the Underwriter of the
Certificates, has prepared certain materials (the "Lehman Computational
Materials") for distribution to its potential investors. Although the Company
provided Lehman with certain information regarding the characteristics of the
Mortgage Loans in the related portfolio, the Company did not participate in the
preparation of the Lehman Computational Materials.
For purposes of this Form 8-K, "Computational Materials" shall mean computer
generated tables and/or charts displaying, with respect to any Class or Classes
of Certificates, any of the following: yield; average life; duration; expected
maturity; interest rate sensitivity; loss sensitivity; cash flow
characteristics; background information regarding the Mortgage Loans; the
proposed structure; decrement tables; or similar information (tabular or
otherwise) of a statistical, mathematical, tabular or computational nature. The
Lehman Computational Materials, listed as Exhibit 99.1 hereto, are filed on
Form SE dated February 23, 1999.
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* Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the prospectus dated February 23, 1999 and the
prospectus supplement dated November 9, 1998, of CWMBS, Inc., relating to its
Mortgage Pass-Through Certificates, Series 1999-3.
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Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1. Lehman Computational Materials filed on Form SE dated February 23, 1999.
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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: February 23, 1999
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Exhibit Index
Exhibit Page
99.1. Lehman Computational Materials filed on Form SE dated
February 23, 1999.
<PAGE>
EXHIBIT 99.1
Lehman Computational Materials filed on Form SE dated February 23, 1999.
<PAGE>
BROWN & WOOD LLP
One World Trade Center
New York, New York 10048
Telephone: (212) 839-5300
Facsimile: (212) 839-5599
February 23, 1999
BY MODEM
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Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: CWMBS, Inc.
CHL Mortgage Pass-Through Trust 1999-3
Mortgage Pass-Through Certificates,
Series 1999-3
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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
