SUPPLEMENT
TO PROSPECTUS SUPPLEMENT DATED JUNE 26, 1998
(TO PROSPECTUS DATED MARCH 18, 1998)
CWMBS, INC.
Depositor
COUNTRYWIDE
HOME LOANS, INC.
Seller and Master Servicer
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-11
_________________
THE CLASS A-2 CERTIFICATES
-------------------------
| The Class A-2 | o This supplement relates to the offering of
| certificates represent | the Class A-2 certificates of the series
| obligations | referenced above. This supplement does not
| of the trust | contain complete information about the
| only and do | offering of the Class A-2 certificates.
| not represent | Additional information is contained in the
| an interest | prospectus supplement dated June 26, 1998
| in or obligation | prepared in connection with the offering
| of CWMBS, | of the offered certificates of the series
| Inc., Countrywide | referenced above and in the prospectus of
| Home Loans, Inc., | the depositor dated March 18, 1998. You
| or any of | are urged to read this supplement, the
| their affiliates. | prospectus supplement and the prospectus
| | in full.
| |
| This supplement may | o As of the November 25, 1999, the class
| be used to offer and | certificate balance of the Class A-2
| sell the offered | certificates was approximately
| certificates only if | $24,656,000.
| accompanied by the |
| prospectus supplement |
| and the prospectus. |
-------------------------
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-2
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 16, 1999
<PAGE>
THE MORTGAGE POOL
As of November 1, 1999 (the "Reference Date"), the Mortgage Pool included
approximately 957 Mortgage Loans having an aggregate Stated Principal Balance of
approximately $251,659,904.47
The following table summarizes the delinquency and foreclosure experience
of the Mortgage Loans as of the Reference Date.
<TABLE>
<CAPTION>
As of
November 1, 1999
<S> <C>
Total Number of Mortgage Loans ................................ 957
Delinquent Mortgage Loans and Pending Foreclosures at
Period End (1)
30-59 days ............................................ 1.36.%
60-90 days ............................................ 0.10%
91 days or more (excluding pending foreclosures) ...... 0.21%
------
Total Delinquencies ........................................... 1.67%
======
Foreclosures Pending .......................................... 0.21%
------
Total Delinquencies and foreclosures pending .................. 1.88%
======
</TABLE>
- --------------
(1) As a percentage of the total number of Mortgage Loans as of the Reference
Date.
One (1) Mortgage Loan has been converted and is, as of the Reference Date,
an REO loan.
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 and foreclosure
experience, respectively, on the dates indicated, of conventional mortgage
loans serviced or master serviced by the Master Servicer. 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 services 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-2
Certificates.
DESCRIPTION OF THE CLASS A-2 CERTIFICATES
The Class A-2 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-2 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-2 Certificates was approximately $24,656,000 evidencing a
beneficial ownership interest of approximately 9.80% in the Trust Fund. As of
the Certificate Date, the Senior Certificates had an aggregate principal balance
of approximately $235,205,875.18 and evidenced in the aggregate a beneficial
ownership interest of approximately 93.50% in the Trust Fund. As of the
Certificate Date, the Subordinated Certificates had an aggregate principal
balance of $16,454,039.89 and evidenced in the aggregate a beneficial ownership
interest of approximately 6.50% in the Trust Fund. For additional information
with respect to the Class A-2 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>
ORIGINAL TERM TO REMAINING TERM TO
PRINCIPAL BALANCE MORTGAGE RATE NET MORTGAGE RATE MATURITY (IN MONTHS) MATURITY (IN MONTHS)
- ----------------- ------------- ----------------- -------------------- --------------------
<S> <C> <C> <C> <C>
$ 235,178,029.57 7.558475% 7.275724261 359 341
$ 16,481,874.90 7.054227% 6.626916628 360 341
</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-2
Certificates is $24,656,000 (ix) interest accrues on the Class A-2 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 Class A-2 Certificate Class are set forth in
the Principal Balances Schedules in Schedule I in the Prospectus Supplement,
(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, (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",
and (xv) no Class of Certificates become a Restricted Class. 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, 250% SPA assumes prepayment rates will be 0.5% per annum in month one,
1.0% per annum in month two, and increasing by 0.5% in each succeeding month
until reaching a rate of 15.0% per annum in month 30 and remaining constant at
15.0% 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-2 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*
<TABLE>
<CAPTION>
CLASS A-2
PERCENTAGES OF SPA
------------------------------------------
DISTRIBUTION DATE 0% 100% 275% 400% 500%
----------------- -- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Initial Percent.................... 100 100 100 100 100
November 25, 2000.................. 100 100 100 100 100
November 25, 2001.................. 100 100 100 100 100
November 25, 2002.................. 100 100 100 100 31
November 25, 2003.................. 100 100 100 0 0
November 25, 2004.................. 100 100 91 0 0
November 25, 2005.................. 100 100 46 0 0
November 25, 2006.................. 100 100 15 0 0
November 25, 2007.................. 100 100 0 0 0
November 25, 2008.................. 100 100 0 0 0
November 25, 2009.................. 100 100 0 0 0
November 25, 2010.................. 100 100 0 0 0
November 25, 2011.................. 100 100 0 0 0
November 25, 2012.................. 100 100 0 0 0
November 25, 2013.................. 100 100 0 0 0
November 25, 2014.................. 100 89 0 0 0
November 25, 2015.................. 100 70 0 0 0
November 25, 2016.................. 100 53 0 0 0
November 25, 2017.................. 100 37 0 0 0
November 25, 2018.................. 100 22 0 0 0
November 25, 2019.................. 100 7 0 0 0
November 25, 2020.................. 100 0 0 0 0
November 25, 2021.................. 100 0 0 0 0
November 25, 2022.................. 100 0 0 0 0
November 25, 2023.................. 100 0 0 0 0
November 25, 2024.................. 31 0 0 0 0
November 25, 2025.................. 0 0 0 0 0
November 25, 2026.................. 0 0 0 0 0
November 25, 2027.................. 0 0 0 0 0
November 25, 2028.................. 0 0 0 0 0
Weighted Average Life (years) **... 25.7 17.4 6.1 3.8 3.0
</TABLE>
- --------------------------
* 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 $3,248,894 and $0 and $3,350,190, respectively.
CERTAIN FEDERAL INCOME TAX CONSEQUENCES
Prospective investors should consider carefully the income tax consequences
of an investment in the Class A-2 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.
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-2 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-2 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-2 Certificates are currently rated "Aaa" by Moody's Investors
Services, Inc. and "AAA" by Duff & Phleps Credit Rating Company. 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-2
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)
<TABLE>
<CAPTION>
Number of Percent of
Mortgage Aggregate Principal Mortgage
Mortgage Rate Loans Balance Outstanding Pool
<S> <C> <C> <C>
6.375 1 $ 385,689.95 0.15%
6.500 4 425,975.03 0.17%
6.625 2 277,778.24 0.11%
6.750 19 3,320,221.50 1.32%
6.875 25 3,936,335.37 1.56%
7.000 57 8,135,874.81 3.23%
7.125 65 11,586,818.20 4.60%
7.250 00 24,581,926.42 9.77%
7.375 39 42,990,050.42 17.08%
7.500 47 73,214,070.19 29.09%
7.625 96 30,097,565.36 11.96%
7.750 89 24,823,181.43 9.86%
7.875 62 17,775,426.08 7.06%
8.000 22 4,266,195.43 1.70%
8.125 6 816,220.64 0.32%
8.250 16 3,383,726.35 1.34%
8.375 1 122,603.08 0.05%
8.750 2 672,504.01 0.27%
8.875 3 684,031.66 0.27%
9.500 1 163,710.30 0.07%
----- - ---------- -----
TOTAL 957 $ 251,659,904.47 100.00%
</TABLE>
(1) The Lender PMI Loans are shown at the Mortgage Rates net of the interest
premium charged by the related lenders. As of the Reference Date, the
weighted average Mortgage Rate of the Mortgage Loans (as so adjusted) is
expected to be approximately 7.49%. Without such adjustment, the weighted
average Mortgage Rate of the Mortgage Loans is expected to be approximately
7.53% per annum.
ORIGINAL LOAN-TO-VALUE RATIOS(1)
<TABLE>
<CAPTION>
Number of Percent of
Original Loan-to-Value Mortgage Aggregate Principal Mortgage
Ratios (%) Loans Balance Outstanding Pool
<S> <C> <C> <C>
50.00 and below 32 $ 11,945,152.07 4.75%
50.01 to 55.00 25 7,719,540.33 3.07%
55.01 to 60.00 31 8,787,391.91 3.49%
60.01 to 65.00 46 16,271,528.05 6.47%
65.01 to 70.00 83 25,074,853.69 9.96%
70.01 to 75.00 150 46,305,256.60 18.40%
75.01 to 80.00 392 100,994,079.71 40.13%
80.01 to 85.00 18 4,052,664.73 1.61%
85.01 to 90.00 101 18,170,839.88 7.22%
90.01 TO 95.00 798 12,338,597.50 4.90%
-------------- --- ------------- -----
TOTAL 957 $ 251,659,904.47 100.00%
</TABLE>
(1) The weighted average original Loan-to-Value Ratio of the Mortgage Loans is
approximately 74.543%
CURRENT MORTGAGE LOAN PRINCIPAL BALANCES(1)
<TABLE>
<CAPTION>
Number of
Current Mortgage Mortgage Aggregate Principal Percent of
Loan Amounts Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C> <C>
$0 -- $50,000 20 $487,623.65 0.19%
$50,001 -- $100,000 116 9,090,020.39 3.61%
$100,001 -- $150,000 110 13,672,948.36 5.43%
$150,001 -- $200,000 53 9,313,100.83 3.70%
$200,001 -- $250,000 129 30,271,984.50 12.03%
$250,001 -- $300,000 213 58,290,735.76 23.16%
$300,001 -- $350,000 114 36,851,000.11 14.64%
$350,001 -- $400,000 84 31,420,938.46 12.49%
$400,001 -- $450,000 32 13,591,011.32 5.40%
$450,001 -- $500,000 31 14,668,000.71 5.83%
$500,001 -- $550,000 18 9,342,307.73 3.71%
$550,001 -- $600,000 12 6,833,014.91 2.72%
$600,001 -- $650,000 17 10,720,992.61 4.26%
$650,001 -- $750,000 2 1,419,119.32 0.56%
$750,001 -- $1,000,000 4 3,519,421.87 1.40%
$1,000,001 -- $1,500,000 2 2,167,683.94 0.86%
---------- ---------- - ------------ -----
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
(1) The average current Mortgage Loan principal balance is approximately
$264,905.16.
DOCUMENTATION PROGRAM
<TABLE>
<CAPTION>
Number of
Mortgage Aggregate Principal Percent of
Type of Program Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
Full 438 $117,760,232.12 46.79%
Alternative 368 90,119,138.14 35.81%
Reduced 114 36,204,169.09 14.39%
No Income/ No Asset 4 941,073.05 0.37%
Streamlined 33 6,635,292.07 2.64%
- ----------- -- ------------ -----
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
TYPE OF MORTGAGED PROPERTY
<TABLE>
<CAPTION>
Number of
Mortgage Aggregate Principal Percent of
Property Type Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
Single Family 744 $192,728,629.74 76.58%
Condominium 18 3,869,992.26 1.54%
2-4 Family 22 5,092,845.76 2.02%
Planned Unit Development 169 49,667,046.89 19.74%
Manufactured Housing 4 301,389.82 0.12%
- -------------------- - ---------- -----
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
<PAGE>
OCCUPANCY TYPES(1)
<TABLE>
<CAPTION>
Number of
Mortgage Aggregate Principal Percent of
Occupancy Type Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
Primary Residence 923 $241,449,973.44 95.94%
Investor Property 20 5,738,599.63 2.28%
Second Residence 14 4,471,331.40 1.78%
- ---------------- -- ------------ -----
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
(1) Based upon representations of the related Mortgagors at the time of
origination.
STATE DISTRIBUTION OF MORTGAGED PROPERTIES(1)
<TABLE>
<CAPTION>
Number of
Mortgage Aggregate Principal Percent of
State Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
California 376 $125,280,309.21 49.78%
Colorado 37 8,943,213.34 3.55%
Florida 28 5,882,984.40 2.34%
Illinois 31 6,653,149.18 2.64%
Massachusetts 28 7,180,366.00 2.85%
Michigan 36 7,865,826.33 3.13%
New Jersey 27 7,432,976.01 2.95%
Pennsylvania 26 5,313,384.16 2.11%
Texas 38 8,417,886.33 3.34%
Washington 36 7,775,585.34 3.09%
Other (Less than 2%) 294 60,914,224.17 24.20%
- -------------------- --- ------------- ------
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
(1) Other includes 36 other states and the District of Columbia with under 2%
concentrations individually.
PURPOSE OF MORTGAGE LOANS
<TABLE>
<CAPTION>
Number of
Mortgage Aggregate Principal Percent of
Principal Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
Purchase 382 $98,843,314.40 39.28%
Refinance (rate/term) 285 80,346,737.10 31.93%
Refinance (Cash Out) 290 72,469,852.97 28.80%
- -------------------- --- ------------- ------
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
<PAGE>
REMAINING TERMS TO MATURITY(1)
<TABLE>
<CAPTION>
Number of
Remaining Term to Mortgage Aggregate Principal Percent of
Maturity Loans Balance Outstanding Mortgage Pool
<S> <C> <C> <C>
344 29 $9,084,358.56 3.61%
343 222 73,213,166.55 29.09%
342 443 124,898,854.62 49.63%
341 109 24,280,884.20 9.65%
340 77 10,078,538.23 4.00%
339 36 3,907,000.35 1.55%
338 14 1,617,350.51 0.64%
337 1 81,087.36 0.03%
336 3 366,926.10 0.15%
335 2 279,074.71 0.11%
334 2 374,013.85 0.15%
330 1 163,710.30 0.07%
304 1 122,603.08 0.05%
302 1 101,056.04 0.04%
299 1 186,382.74 0.07%
293 2 243,115.53 0.10%
283 1 241,832.50 0.10%
282 3 630,364.87 0.25%
281 2 430,094.48 0.17%
280 1 46,887.15 0.02%
278 1 160,354.16 0.06%
277 1 207,304.31 0.08%
248 1 97,592.13 0.04%
224 1 256,077.63 0.10%
222 1 338,170.10 0.13%
221 1 253,104.41 0.10%
--- - ---------- -----
TOTAL 957 $251,659,904.47 100.00%
</TABLE>
(1) As of the Reference Date, the weighted average remaining term to
maturity at the Mortgage Loans is expected to be approximately 341 months.
<PAGE>
EXHIBIT 2
THE
BANK OF Distribution Date: 11/25/99
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
Certificateholder Monthly Distribution Summary
<TABLE>
<CAPTION>
Certificate Pass
Class Rate Beginning Through Principal Interest Total
Class Cusip Description Type Balance Rate (%) Distribution Distribution Distribution
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 12669AUF9 Senior Fix-30/360 61,541,880.89 6.750000 1,066,879.36 346,173.08 1,413,052.44
A2 12669AUG7 Senior Fix-30/360 24,656,000.00 6.750000 0.00 138,690.00 138,690.00
A3 12669AUH5 Senior Fix-30/360 10,704,758.00 6.500000 0.00 57,984.11 57,984.11
A4 12669AUJ1 Senior Fix-30/360 31,927,416.23 6.750000 343,814.84 179,591.72 523,406.56
A5 12669AUK8 Senior Fix-30/360 31,795,623.00 6.750000 0.00 178,850.38 178,850.38
A6 12669AUL6 Senior Fix-30/360 3,100,000.00 7.000000 0.00 18,083.33 18,083.33
A7 12669AUM4 Senior Fix-30/360 3,089,000.00 7.000000 0.00 18,019.17 18,019.17
A8 12669AUN2 Senior Fix-30/360 2,623,000.00 7.000000 0.00 15,300.83 15,300.83
A9 12669AUP7 Senior Fix-30/360 1,892,757.00 7.000000 0.00 11,041.08 11,041.08
A10 12669AUQ5 Senior Fix-30/360 29,778,258.09 6.250000 555,283.14 155,095.09 710,378.23
A11 12669AUR3 Senior Var-30/360 28,869,185.97 5.808750 469,458.97 139,744.90 609,203.88
A12 12669AUS1 Senior Var-30/360 7,484,603.93 10.380535 121,711.59 64,745.16 186,456.75
A13 12669AWJ9 Strip 10 Fix-30/360 2,205,796.90 6.750000 0.00 12,407.61 12,407.61
PO 12669AUT9 Senior Fix-30/360 300,884.63 0.000000 344.67 0.00 344.67
X1A 12669AUU6 Strip 10 Fix-30/360 0.00 0.000000 0.00 0.00 0.00
X1B 12669AUV4 Strip 10 Fix-30/360 101,272,899.33 0.527415 0.00 44,510.68 44,510.68
X1C 12669AVD3 Strip 10 Fix-30/360 60,442,000.00 0.527415 0.00 26,565.00 26,565.00
X1D 12669AVE1 Strip 10 Fix-30/360 76,077,233.76 0.527415 0.00 33,436.88 33,436.88
M 12669AUX0 Senior Fix-30/360 8,766,613.23 6.750000 7,504.35 49,312.20 56,816.55
B1 12669AUY8 Senior Fix-30/360 3,308,155.74 6.750000 2,831.83 18,608.38 21,440.21
B2 12669AUZ5 Senior Fix-30/360 1,488,669.59 6.750000 1,274.32 8,373.77 9,648.09
B3 12669AVA9 Senior Fix-30/360 1,157,854.02 6.750000 991.14 6,512.93 7,504.07
B4 12669AVB7 Senior Fix-30/360 827,038.44 6.750000 707.96 4,652.09 5,360.05
B5 12669AVC5 Senior Fix-30/360 979,305.25 6.750000 849.55 5,508.59 6,358.14
AR 12669AUW2 Senior Fix-30/360 0.00 6.750000 0.00 0.05 0.05
Totals 254,291,004.01 2,571,651.72 1,533,207.03 4,104,858.76
(table continued)
Current Curnulativc
Realized Ending Realized
Class Losses Balance Losses
<S> <C> <C> <C>
A1 0.00 60,475,001.53 0.00
A2 0.00 24,656,000.00 0.00
A3 0.00 10,704,758.00 0.00
A4 0.00 31,583,601.39 0.00
A5 0.00 31,795,623.00 0.00
A6 0.00 3,100,000.00 0.00
A7 0.00 3,089,000.00 0.00
A8 0.00 2,623,000.00 0.00
A9 0.00 1,892,757.00 0.00
A10 0.00 29,222,974.95 0.00
A11 0.00 28,399,727.00 0.00
A12 0.00 7,362,892.34 0.00
A13 0.00 2,164,664.81 0.00
PO 0.00 300,539.97 0.00
X1A 0.00 0.00 0.00
X1B 0.00 100,091,480.30 0.00
X1C 0.00 60,442,000.00 0.00
X1D 0.00 74,644,549.27 0.00
M 0.00 8,759,108.88 0.00
B1 0.00 3,305,323.91 0.00
B2 0.00 1,487,395.27 0.00
B3 0.00 1,156,862.88 0.00
B4 0.00 826,330.48 0.00
B5 59,447.80 919,018.47 72,591.44
AR 0.00 0.00 0.00
Totals 59,447.80 251,659,915.07 72,591.44
</TABLE>
<PAGE>
THE
BANK OF Distribution Date: 11/25/99
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
Principal Distribution Detail
<TABLE>
<CAPTION>
Original Beginning Scheduled Unscheduled Net
Certificate Certificate Principal Accretion Principal Principal
Class Cusip Balance Balance Distribution Principal Adjustments Distribution
<S> <C> <C> <C> <C> <C> <C> <C>
A1 12669AUF9 95,125,000.00 61,541,880.89 1,066,879.36 0.00 0.00 1,066,879.36
A2 12669AUG7 24,656,000.00 24,656,000.00 0.00 0.00 0.00 0.00
A3 12669AUH5 10,704,758.00 10,704,758.00 0.00 0.00 0.00 0.00
A4 12669AUJ1 42,750,000.00 31,927,416.23 343,814.84 0.00 0.00 343,814.84
A5 12669AUK8 31,795,623.00 31,795,623.00 0.00 0.00 0.00 0.00
A6 12669AUL6 3,100,000.00 3,100,000.00 0.00 0.00 0.00 0.00
A7 12669AUM4 3,089,000.00 3,089,000.00 0.00 0.00 0.00 0.00
A8 12669AUN2 2,623,000.00 2,623,000.00 0.00 0.00 0.00 0.00
A9 12669AUP7 1,892,757.00 1,892,757.00 0.00 0.00 0.00 0.00
A10 12669AUQ5 35,323,000.00 29,778,258.09 555,283.14 0.00 0.00 555,283.14
A11 12669AUR3 53,124,088.00 28,869,185.97 469,458.97 0.00 0.00 469,458.97
A12 12669AUS1 13,772,912.00 7,484,603.93 121,711.59 0.00 0.00 121,711.59
A13 12669AWJ9 2,616,518.00 2,205,796.90 0.00 0.00 0.00 0.00
PO 12669AUT9 311,832.00 300,884.63 344.67 0.00 0.00 344.67
X1A 12669AUU6 7,632,000.00 0.00 0.00 0.00 0.00 0.00
X1B 12669AUV4 105,495,000.00 101,272,899.33 0.00 0.00 0.00 0.00
X1C 12669AVD3 60,442,000.00 60,442,000.00 0.00 0.00 0.00 0.00
X1D 12669AVE1 144,021,776.00 76,077,233.76 0.00 0.00 0.00 0.00
M 12669AUX0 8,878,004.00 8,766,613.23 7,504.35 0.00 0.00 7,504.35
B1 12669AUY8 3,350,190.00 3,308,155.74 2,831.83 0.00 0.00 2,831.83
B2 12669AUZ5 1,507,585.00 1,488,669.59 1,274.32 0.00 0.00 1,274.32
B3 12669AVA9 1,172,566.00 1,157,854.02 991.14 0.00 0.00 991.14
B4 12669AVB7 837,547.00 827,038.44 707.96 0.00 0.00 707.96
B5 12669AVC5 1,005,059.00 979,305.25 849.55 0.00 0.00 849.55
AR 12669AUW2 100.00 0.00 0.00 0.00 0.00 0.00
Totals 335,019,021.00 254,291,004.01 2,571,651.72 0.00 0.00 2,571,651.72
(table continued)
Current Ending Ending
Realized Certificate Certificate
Class Losses Balance Factor
<S> <C> <C> <C>
A1 0.00 60,475,001.53 0.63574246025
A2 0.00 24,656,000.00 1.00000000000
A3 0.00 10,704,758.00 1.00000000000
A4 0.00 31,583,601.39 0.73879769335
A5 0.00 31,795,623.00 1.00000000000
A6 0.00 3,100,000.00 1.00000000000
A7 0.00 3,089,000.00 1.00000000000
A8 0.00 2,623,000.00 1.00000000000
A9 0.00 1,892,757.00 1.00000000000
A10 0.00 29,222,974.95 0.82730727713
A11 0.00 28,399,727.00 0.53459227377
A12 0.00 7,362,892.34 0.53459227356
A13 0.00 2,164,664.81 0.82730744108
PO 0.00 300,539.97 0.96378808294
X1A 0.00 0.00 0.00000000000
X1B 0.00 100,091,480.30 0.94877937627
X1C 0.00 60,442,000.00 1.00000000000
X1D 0.00 74,644,549.27 0.51828654904
M 0.00 8,759,108.88 0.98660789932
B1 0.00 3,305,323.91 0.98660789766
B2 0.00 1,487,395.27 0.98660789850
B3 0.00 1,156,862.88 0.98660790215
B4 0.00 826,330.48 0.98660789679
B5 59,447.80 919,018.47 0.91439255805
AR 0.00 0.00 0.00000000000
Totals 59,447.80 251,659,915.07
</TABLE>
<PAGE>
THE
BANK OF Distribution Date: 11/25/99
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
Interest Distribution Detail
<TABLE>
<CAPTION>
Beginning Pass Accrued Cumulative Total Net
Certificate Through Optimal Unpaid Deferred Interest Prepayment
Class Balance Rate (%) Interest Interest Interest Due Int Shortfall
<S> <C> <C> <C> <C> <C> <C> <C>
A1 61,541,880.89 6.750000 346,173.08 0.00 0.00 346,173.08 0.00
A2 24,656,000.00 6.750000 138,690.00 0.00 0.00 138,690.00 0.00
A3 10,704,758.00 6.500000 57,984.11 0.00 0.00 57,984.11 0.00
A4 31,927,416.23 6.750000 179,591.72 0.00 0.00 179,591.72 0.00
A5 31,795,623.00 6.750000 178,850.38 0.00 0.00 178,850.38 0.00
A6 3,100,000.00 7.000000 18,083.33 0.00 0.00 18,083.33 0.00
A7 3,089,000.00 7.000000 18,019.17 0.00 0.00 18,019.17 0.00
A8 2,623,000.00 7.000000 15,300.83 0.00 0.00 15,300.83 0.00
A9 1,892,757.00 7.000000 11,041.08 0.00 0.00 11,041.08 0.00
A10 29,778,258.09 6.250000 155,095.09 0.00 0.00 155,095.09 0.00
A11 28,869,185.97 5.808750 139,744.90 0.00 0.00 139,744.90 0.00
A12 7,484,603.93 10.380535 64,745.16 0.00 0.00 64,745.16 0.00
A13 2,205,796.90 6.750000 12,407.61 0.00 0.00 12,407.61 0.00
PO 300,884.63 0.000000 0.00 0.00 0.00 0.00 0.00
X1A 0.00 0.000000 0.00 0.00 0.00 0.00 0.00
X1B 101,272,899.33 0.527415 44,510.68 0.00 0.00 44,510.68 0.00
X1C 60,442,000.00 0.527415 26,565.00 0.00 0.00 26,565.00 0.00
X1D 76,077,233.76 0.527415 33,436.88 0.00 0.00 33,436.88 0.00
M 8,766,613.23 6.750000 49,312.20 0.00 0.00 49,312.20 0.00
B1 3,308,155.74 6.750000 18,608.38 0.00 0.00 18,608.38 0.00
B2 1,488,669.59 6.750000 8,373.77 0.00 0.00 8,373.77 0.00
B3 1,157,854.02 6.750000 6,512.93 0.00 0.00 6,512.93 0.00
B4 827,038.44 6.750000 4,652.09 0.00 0.00 4,652.09 0.00
B5 979,305.25 6.750000 5,508.59 0.00 0.00 5,508.59 0.00
AR1 0.00 6.750000 0.00 0.00 0.00 0.00 0.00
Totals 254,291,004.01 1,533,206.98 0.00 0.00 1,533,206.98 0.00
(table continued)
Unscheduled
Interest Interest
Class Adjustment Paid
<S> <C> <C>
A1 0.00 346,173.08
A2 0.00 138,690.00
A3 0.00 57,984.11
A4 0.00 179,591.72
A5 0.00 178,850.38
A6 0.00 18,083.33
A7 0.00 18,019.17
A8 0.00 15,300.83
A9 0.00 11,041.08
A10 0.00 155,095.09
A11 0.00 139,744.90
A12 0.00 64,745.16
A13 0.00 12,407.61
PO 0.00 0.00
X1A 0.00 0.00
X1B 0.00 44,510.68
X1C 0.00 26,565.00
X1D 0.00 33,436.88
M 0.00 49,312.20
B1 0.00 18,608.38
B2 0.00 8,373.77
B3 0.00 6,512.93
B4 0.00 4,652.09
B5 0.00 5,508.59
AR1 0.00 0.05
Totals 0.00 1,533,207.03
</TABLE>
<PAGE>
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTMICATES
Series 1998-11
Current Payment Information
Factors per $1,000
<TABLE>
<CAPTION>
Original Beginning Cert.
Certificate Notional Principal Interest
Class Cusip Balance Balance Distribution Distribution
<S> <C> <C> <C> <C> <C>
A1 12669AUF9 95,125,000.00 646.958012016 11.215551767 3.639138818
A2 12669AUG7 24,656,000.00 1,000.000000000 0.000000000 5.625000000
A3 12669AUH5 10,704,758.00 1,000.000000000 0.000000000 5.416666667
A4 12669AUJ1 42,750,000.00 746.840145730 8.042452378 4.200975820
A5 12669AUK8 31,795,623.00 1,000.000000000 0.000000000 5.625000000
A6 12669AUL6 3,100,000.00 1,000.000000000 0.000000000 5.833333333
A7 12669AUM4 3,089,000.00 1,000.000000000 0.000000000 5.833333333
A8 12669AUN2 2,623,000.00 1,000.000000000 0.000000000 5.833333333
A9 12669AUP7 1,892,757.00 1,000.000000000 0.000000000 5.833333333
A10 12669AUQ5 35,323,000.00 843.027435099 15.720157971 4.390767891
A11 12669AUR3 53,124,088.00 543.429300262 8.837026497 2.630537457
A12 12669AUS1 13,772,912.00 543.429300053 8.837026497 4.700905633
A13 12669AWJ9 2,616,518.00 843.027602163 0.000000000 4.742030262
PO 12669AUT9 311,832.00 964.893386197 1.105303259 0.000000000
X1A 12669AUU6 7,632,000.00 0.000000000 0.000000000 0.000000000
X1B 12669AUV4 105,495,000.00 959.978191668 0.000000000 0.421922177
X1C 12669AVD3 60,442,000.00 1,000.000000000 0.000000000 0.439512253
X1D 12669AVE1 144,021,776.00 528.234242577 0.000000000 0.232165422
M 12669AUX0 8,878,004.00 987.453173624 0.845274308 5.554424102
B1 12669AUY8 3,350,190.00 987.453171965 0.845274308 5.554424092
B2 12669AUZ5 1,507,585.00 987.453172808 0.845274308 5.554424097
B3 12669AVA9 1,172,566.00 987.453176460 0.845274308 5.554424118
B4 12669AVB7 837,547.00 987.453171094 0.845274308 5.554424087
B5 12669AVC5 1,005,059.00 974.375879271 0.845273760 5.480862318
AR 12669AUW2 100.00 0.000000000 0.000000000 0.475817171
Totals 335,019,021.00 759.034526610 7.676136454 4.576477555
(table continued)
Ending Cert. Pass
Notional Through
Class Balance Rate (%)
<S> <C> <C>
A1 635.742460249 6.750000
A2 1,000.000000000 6.750000
A3 1,000.000000000 6.500000
A4 738.797693351 6.750000
A5 1,000.000000000 6.750000
A6 1,000.000000000 7.000000
A7 1,000.000000000 7.000000
A8 1,000.000000000 7.000000
A9 1,000.000000000 7.000000
A10 827.307277128 6.250000
A11 534.592273765 5.808750
A12 534.592273556 10.380535
A13 827.307441077 6.750000
PO 963.788082937 0.000000
X1A 0.000000000 0.000000
X1B 948.779376274 0.527415
X1C 1,000.000000000 0.527415
X1D 518.286549042 0.527415
M 986.607899316 6.750000
B1 986.607897657 6.750000
B2 986.607898500 6.750000
B3 986.607902152 6.750000
B4 986.607896786 6.750000
B5 914.392558049 6.750000
AR 0.000000000 6.750000
Totals 751.180975692
</TABLE>
<PAGE>
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
<TABLE>
<CAPTION>
Pool Level Data
<S> <C>
Distrbution Date 11/25/99
Cut-off Date 6/ 1/98
Determination Date 11/ 1/99
Accrual Period Begin 10/ 1/99
End 11/ 1/99
Number of Days in Accrual Period 31
Collateral Information
Group 1
Cut-Off Date Balance 335,019,021.28
Beginning Aggregate Pool Stated Principal Balance 254,291,003.99
Ending Aggregate Pool Stated Principal Balance 251,659,904.47
Beginning Aggregate Certificate Stated Principal Balance 254,291,004.01
Ending Aggregate Certificate Stated Principal Balance 251,659,915.07
Beginning Aggregate Loan Count 966
Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement 9
Ending Aggregate Loan Count 957
Beginning Weighted Average Loan Rate (WAC) 7.527540%
Ending Weighted Average Loan Rate (WAC) 7.525450%
Beginning Net Weighted Average Loan Rate 7.235208%
Ending Net Weighted Average Loan Rate 7.233232%
Weighted Average Maturity (WAM) (Months) 341
Servicer Advances 23,605.16
Aggregate Pool Prepayment 2,287,281.91
Pool Prepayment Rate 10.2754 CPR
Certificate Information
Group 1
Senior Percentage 93.4928034568%
Senior Prepayment Percentage 100.0000000000%
Subordinate Percentage 6.5071965432%
Subordinate Prepayment Percentage 0.0000000000%
</TABLE>
<PAGE>
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
<TABLE>
<CAPTION>
Certificate Account
<S> <C>
Beginning Balance 0.00
Deposit
Payments of Interest and Principal 4,097,091.00
Liquidation Proceeds 66,486.86
All Other Proceeds 0.00
Other Amounts 0.00
------------
Total Deposits 4,163,577.86
Withdrawals
Reimbursement of Servicer Advances 0.00
Payment of Master Servicer Fees 156,168.38
Payment of Sub Servicer Fees 7,063.30
Payment of Other Fees 60,626.31
Payment of Insurance Premium(s) 0.00
Payment of Personal Mortgage Insurance 0.00
Other Pennitted Withdrawal per the Pooling and Service Agreement 0.00
Payment of Principal and Interest 4,104,858.74
------------
Total Withdrawals 4,328,716.73
Ending Balance -104,512.56
Prepayment Compensation
Total Gross Prepayment Interest Shortfall 1,321.47
Compensation for Gross PPIS from Servicing Fees 1,321.47
Other Gross PPIS Compensation 0.00
--------
Total Net PPIS (Non-Supported PPIS) 0.00
Master Servicing Fees Paid 156,168.38
Sub Servicing Fees Paid 7,063.30
Insurance Prerniurn(s) Paid 0.00
Personal Mortgage Insurance Fees Paid 0.00
Other Fees Paid 60,626.31
----------
Total Fees 223,857.99
</TABLE>
<PAGE>
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Attn: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
Delinquency Information
<TABLE>
<CAPTION>
Group 1
Delinquenc 30-59 Days 60-89 Days 90+ Days 270+ Days Totals
<S> <C> <C> <C> <C> <C>
Scheduled Principal Balance 2,024,212.44 533,029.34 389,963.45 389,963.45 2,947,205.23
Percentage of Total Pool Balance 0.804344% 0.211805% 0.154957% 0.154957% 1.171106%
Number of Loans 13 1 2 16
Percentage of Total Loans 1.358412% 0.104493% 0.208986% 1.671891%
Foreclosure
Scheduled Principal Balance 0.00 0.00 0.00 176,174.12
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.070005%
Number of Loans 0 0 0 2
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.208986%
Bankruptc
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 0.00 143,820.05
Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.057149%
Number of Loans 0 0 0 1
Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.104493%
Book Value of all REO Loans 0.00
Percentage of Total Pool Balance 0.000000%
Current Realized Losses 59,447.80
Additional Gains (Recoveries)/Losses 0.00
Total Realized Losses 72,591.44
</TABLE>
Subordination/Credit Enhancement Information
<TABLE>
<CAPTION>
Protection Original Current
<S> <C> <C>
Bankruptcy Loss 50,000.00 0.00
Bankruptcy Percentage 0.014925% 0.000000%
Credit/Fraud Loss 6,664,828.00 3,350,190.21
Credit/Fraud Loss Percentage 1.989388% 1.331237%
</TABLE>
<PAGE>
THE
BANK OF
NEW
YORK
101 Barclay Street, 12E
New York, NY 10286
Aft: Courtney Bartholomew
(212) 815-5795
CWMBS, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1998-11
<TABLE>
<CAPTION>
Protection Original Current
<S> <C> <C>
Special Hazard Loss 3,332,414.00 3,248,893.60
Special Hazard Loss Percentage 0.994694% 1.290986%
Credit Support Original Current
Class A 335,019,021.00 251,659,915.07
Class A Percentage 100.000000% 100.000000%
</TABLE>
