424B5 1 efc2-0053_424b5.txt SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED June 26, 1998 (To Prospectus dated March 18, 1998) CWMBS, INC. Depositor Countrywide Home Loans, Inc. Seller Countywide Home Loans Servicing LP Master Servicer Alternative Loan Trust 1998-4 Issuer Mortgage Pass-Through Certificates, Series 1998-12 __________________________ The Class II-A-1 certificates The Class II-A-1 Certificates represent obligations of the trust only and do not represent an o This supplement relates to the interest in or obligation of CWMBS, offering of the Class II-A-1 Inc., Countrywide Home Loans, Inc. certificates of the series or any of their affiliates. referenced above. This supplement does not contain complete This supplement may be used to information about the offering of offer and sell the offered the Class II-A-1 certificates. certificates only if accompanied by Additional information is the prospectus supplement and the contained in the prospectus prospectus. supplement dated June 26, 1998 prepared in connection with the offering of the offered certificates of the series referenced above and in the prospectus of the depositor dated March 18, 1998. You are urged to read this supplement, the prospectus supplement and the prospectus in full. o As of the December 26, 2001, the class certificate balance of the Class II-A-1 certificates was approximately $48,247,042. 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 II-A-1 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. January 22, 2002 THE MORTGAGE POOL As of December 1, 2001 (the "Reference Date"), Loan Group 2 included approximately 1,521 Mortgage Loans having an aggregate Stated Principal Balance of approximately $149,835,943. The following table summarizes the delinquency and foreclosure experience of the Mortgage Loans as of the Reference Date. As of December 1, 2001 Total Number of Mortgage Loans in Loan Group 2............... Delinquent Mortgage Loans and Pending Foreclosures at Period End (1) 30-59 days.......................................... 2.17% ----- 60-90 days.......................................... 0.39% ----- 91 days or more (excluding pending foreclosures).... 0.07% ----- Total Delinquencies................................. 2.63% ===== Foreclosures Pending......................................... 0.20% ----- Total Delinquencies and foreclosures pending................. 2.83% ===== ______________ (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 Servicing LP will 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 Countrywide Home Loans, Inc. and its subsidiaries 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 $8.671 billion at February 28, 1997, to approximately $11.002 billion at February 28, 1998, to approximately $15.381 billion at February 28, 1999, to approximately $17.759 billion at February 29, 2000, to approximately $21.251 billion at February 28, 2001 and to approximately $23.687 billion at November 31, 2001. Accordingly, 2 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:
At February 28, (29), Period Ended November 30, 1998 1999 2000 2001 2001 ---- ---- ---- ---- ---- Delinquent Mortgage Loans and Pending Foreclosures at Period End: 30-59 days............. 1.08% 1.03% 1.37% 1.61% 1.63% 60-89 days............. 0.16 0.18 0.22 0.28 0.40 90 days or more (excluding pending foreclosures)..... 0.16 0.12 0.16 0.14 0.21 ---- ---- ---- ---- ---- Total of delinquencies. 1.40% 1.33% 1.75% 2.03% 2.24% ==== ==== ==== ==== ==== Foreclosures pending............ 0.17% 0.14% 0.16 0.27% 0.30% ==== ==== ==== ==== ==== Total delinquencies and foreclosures pending....... 1.57% 1.47% 1.92% 2.30% 2.53% ==== ==== ==== ==== ==== Net Gains/(Losses) on liquidated loans (1) ...... $(2,662,000) $(3,704,605) $(3,076,240) $(2,988,604) $(2,402,816) Percentage of Net Gains/(Losses) on liquidated loans (1)(2) ... (0.024)% (0.0018)% (0.017)% (0.014)% (0.009)% Percentage of Net Gains/(Losses) on liquidated loans (based on average outstanding (0.027)% (0.021)% (0.018)% (0.015)% (0.010)% principal balance)(1) .....
_________________ (1) "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). (2) Based upon the total principal balance of the mortgage loans outstanding on the last day of the indicated period. DESCRIPTION OF THE CLASS II-A-1 CERTIFICATES The Class II-A-1 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 II-A-1 Certificates are allocated principal payments as described in the Prospectus Supplement under "Description of the Certificates -- Principal". 3 As of December 26, 2001 (the "Certificate Date"), the Class Certificate Balance of the Class II A-1 Certificates was approximately $48,247,042.32 evidencing a beneficial ownership interest of approximately 23.2080% in the Trust Fund. As of the Certificate Date, the Group 2 Senior Certificates had an aggregate principal balance of approximately $134,770,524 and evidenced in the aggregate, a beneficial ownership interest of approximately 6.48279% in the Trust Fund. As of the Certificate Date, the Subordinated Certificates had an aggregate principal balance of $19,829,922.98 and evidenced in the aggregate, a beneficial ownership interest of approximately 9.5387% in the Trust Fund. For additional information with respect to the Class II A-1 Certificates, see "Description of the Certificates" in the Prospectus Supplement. Reports to Certificateholders The monthly statement for December 2001, 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 prepay at the specified Constant Prepayment Rate (as defined below), (ii) no defaults in the payment by Mortgagors of principal of any interest on the Mortgage Loans are experienced, (iii) 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, (iv) prepayments are allocated as described herein without giving effect to loss and delinquency tests, (v) 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, (vi) the scheduled monthly payment for each Mortgage Loan will amortize in amounts sufficient to repay the balance of such Mortgage Loan by its indicated remaining term to maturity, (vii) the Class Certificate Balance of the Class II-A-1 Certificates is $48,247,042, (viii) interest accrues on the Class II-A-1 Certificates at the applicable interest rate described in the Prospectus Supplement, (ix) 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, (x) the closing date of the sale of the Class II-A-1 Certificates is January 22, 2002, (xi) the Seller is not required to repurchase or substitute for any Mortgage Loan, (xii) 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 (xiii) 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 CPR, 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 Prospectus Supplement (the "Prepayment 4 Assumption") represents an assumed rate of prepayment each month relative to the then outstanding principal balance of a pool of mortgage loans. A 100% Prepayment Assumption assumes a Constant Prepayment Rate ("CPR") of 4.0% per annum of the then outstanding principal balance of such mortgage loans in the first month of the life of the mortgage loans and an additional 1.09090909% (precisely 12/11) per annum in each month thereafter until the eleventh month. Beginning in the twelfth month and in each month thereafter during the life of the mortgage loans, a 100% Prepayment Assumption assumes a CPR of 16% per annum each month. As used herein, a 50% Prepayment Assumption assumes prepayment rates equal to 50% of the Prepayment Assumption. Correspondingly, a 200% Prepayment Assumption assumes prepayment rates equal to 200% of the Prepayment Assumption, and so forth. The Prepayment Assumption does not purport to be a historical description of prepayment experience or a prediction of the anticipated rate of prepayment of any pool of mortgage loans, including the Mortgage Loans. YIELD, PREPAYMENT AND MATURITY CONSIDERATIONS Decrement Table The following table indicates the percentage of the Certificate Date Class Certificate Balance of the Class II-A-1 Certificates that would be outstanding after each of the dates shown at various CPR 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 CPR or at any constant percentage. 5 Percent of Class Certificate Balance Outstanding* Class II-A-1 CPR Distribution Date 0% 50% 100% 150% 200% ----------------- -- --- ---- ---- ---- Initial Percentage............... 39 38 37 36 35 January 22, 2003................. 38 32 25 19 13 January 25, 2004................. 37 26 16 6 0 January 25, 2005................. 36 21 8 0 0 January 25, 2006................. 35 16 2 0 0 January 25, 2007................. 34 12 0 0 0 January 25, 2008................. 33 8 0 0 0 January 25, 2009................. 31 5 0 0 0 January 25, 2010................. 30 1 0 0 0 January 25, 2011................. 28 0 0 0 0 January 25, 2012................. 26 0 0 0 0 January 25, 2013................. 25 0 0 0 0 January 25, 2014................. 22 0 0 0 0 January 25, 2015................. 20 0 0 0 0 January 25, 2016................. 18 0 0 0 0 January 25, 2017................. 15 0 0 0 0 January 25, 2018................. 13 0 0 0 0 January 25, 2019................. 10 0 0 0 0 January 25, 2020................. 7 0 0 0 0 January 25, 2021................. 4 0 0 0 0 January 25, 2022................. 0 0 0 0 0 January 25, 2023................. 0 0 0 0 0 - - - - - Weighted Average Life (years) **. 12.35 3.67 1.87 1.20 0.86 __________________________ * 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 $0 and $0 and $3,810,629 respectively. CERTAIN FEDERAL INCOME TAX CONSEQUENCES Prospective investors should consider carefully the income tax consequences of an investment in the Class II-A-1 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. Foreign Investors A Foreign Investor who is an individual or corporation (or an entity treated as a corporation for federal income tax purposes) holding the Certificates on its own behalf will not 6 be subject to United States Federal income taxes on payments of principal, premium, interest or original issue discount on a Certificate, unless such Foreign Investor is a direct or indirect 10% or greater certificateholder of the Trust Fund, a controlled foreign corporation related to the Trust Fund or a bank receiving interest described in section 881(c)(3)(A) of the Code. To qualify for the exemption from taxation, the Withholding Agent, as defined below, must have received a statement from the individual or corporation that: - is signed under penalties of perjury by the beneficial owner of the Certificate, - certifies that such owner is not a U.S. Holder, and - provides the beneficial owner's name and address. A "Withholding Agent" is the last United States payor (or a non-U.S. payor who is a qualified intermediary, U.S. branch of a foreign person, or withholding foreign partnership) in the chain of payment prior to payment to a Foreign Investor (which itself is not a Withholding Agent). Generally, this statement is made on an IRS Form W-8BEN ("W-8BEN"), which is effective for the remainder of the year of signature plus three full calendar years unless a change in circumstances makes any information on the form incorrect. Notwithstanding the preceding sentence, a W-8BEN with a U.S. taxpayer identification number will remain effective until a change in circumstances makes any information on the form incorrect, provided that the Withholding Agent reports at least annually to the beneficial owner on IRS Form 1042-S. The beneficial owner must inform the Withholding Agent within 30 days of such change and furnish a new W-8BEN. A Certificate Owner who is not an individual or corporation (or an entity treated as a corporation for federal income tax purposes) holding the Certificates on its own behalf may have substantially increased reporting requirements. In particular, in the case of Certificates held by a foreign partnership (or foreign trust), the partnership (or trust) will be required to provide the certification from each of its partners (or beneficiaries), and the partnership (or trust) will be required to provide certain additional information. A foreign Certificate Owner whose income with respect to its investment in a Certificate is effectively connected with the conduct of a U.S. trade or business would generally be taxed as if the holder was a U.S. person provided the holder provides to the Withholding Agent an IRS Form W-8ECI. Certain securities clearing organizations, and other entities who are not beneficial owners, may be able to provide a signed statement to the Withholding Agent. However, in such case, the signed statement may require a copy of the beneficial owner's W-8BEN (or the substitute form). Generally, a Foreign Investor will not be subject to federal income taxes on any amount which constitutes capital gain upon retirement or disposition of a Certificate, unless such Foreign Investor is an individual who is present in the United States for 183 days or more in the taxable year of the disposition and such gain is derived from sources within the United States. Certain other exceptions may be applicable, and a Foreign Investor should consult its tax advisor in this regard. 7 The Certificates will not be includible in the estate of a Foreign Investor unless the individual is a direct or indirect 10% or greater certificateholder of the Trust Fund or, at the time of such individual's death, payments in respect of the Certificates would have been effectively connected with the conduct by such individual of a trade or business in the United States. Backup Withholding Backup withholding of United States Federal income tax may apply to payments made in respect of the Certificates to registered owners who are not "exempt recipients" and who fail to provide certain identifying information (such as the registered owner's taxpayer identification number) in the required manner. Generally, individuals are not exempt recipients, whereas corporations and certain other entities generally are exempt recipients. Payments made in respect of the Certificates to a U.S. Holder must be reported to the IRS, unless the U.S. Holder is an exempt recipient or establishes an exemption. Compliance with the identification procedures described in the preceding section would establish an exemption from backup withholding for those Foreign Investors who are not exempt recipients. In addition, upon the sale of a Certificate to (or through) a broker, the broker must report the sale and backup withhold on the entire purchase price, unless either (i) the broker determines that the seller is a corporation or other exempt recipient or (ii) the seller certifies that such seller is a Foreign Investor (and certain other conditions are met). Certification of the registered owner's non-U.S. status would be made normally on an IRS Form W-8BEN under penalties of perjury, although in certain cases it may be possible to submit other documentary evidence. Any amounts withheld under the backup withholding rules from a payment to a beneficial owner would be allowed as a refund or a credit against such beneficial owner's United States federal income tax provided the required information is furnished to the IRS. Prospective investors are strongly urged to consult their own tax advisors with respect to the Withholding Regulations. ERISA CONSIDERATIONS Prospective purchasers of the Class II-A-1 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 II-A-1 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 II-A-1 Certificates are currently rated "AAA" by Fitch, Inc. and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. See "Ratings" in the Prospectus Supplement. 8 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 II-A-1 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. 9 EXHIBIT 1 Loan Group 1
Mortgage Rates (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Mortgage Rates (%) Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- 6.125 3 $474,651.42 0.82% 6.250 1 $73,385.42 0.13 6.500 3 $292,497.26 0.50 6.625 6 $616,431.79 1.06 6.750 9 $1,019,473.21 1.76 6.875 32 $3,700,803.58 6.37 7.000 69 $7,738,564.97 13.33 7.125 83 $8,273,014.83 14.25 7.250 167 $19,226,925.62 33.12 7.350 1 $86,821.97 0.15 7.375 152 $16,551,303.58 28.51 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) The Lender PMI Mortgage Loans in Loan Group 1 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 in Loan Group 1 (as so adjusted) is expected to be approximately 7.101%. Without such adjustment, the weighted average Mortgage Rate of the Mortgage Loans in Loan Group 1 is expected to be approximately 7.181% per annum. Original Loan-to-Value Ratios (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Original Loan-to-Value Ratios (%) Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- 50.00 and below 34 $2,953,818.60 5.09% 50.01-55.00 15 $1,676,293.22 2.89 55.01-60.00 17 $1,652,651.38 2.85 60.01-65.00 20 $2,103,687.35 3.62 65.01-70.00 22 $2,421,047.45 4.17 70.01-75.00 64 $7,607,014.58 13.10 75.01-80.00 234 $26,864,764.83 46.28 80.01-85.00 20 $1,723,397.11 2.97 85.01-90.00 48 $5,144,112.00 8.86 90.01-95.00 51 $5,820,265.16 10.03 95.01-99.99 1 $86,821.97 0.15 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) The weighted average original Loan-to-Value Ratio of the Mortgage Loans in Loan Group 1 is expected to be approximately 76.68%. 10 Current Mortgage Loan Principal Balances (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Current Mortgage Loan Amounts Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- $ 0.00 to $ 50,000 33 $1,410,429.30 2.43% $ 50,000.01 to $100,000 211 $16,426,778.67 28.30 $100,000.01 to $150,000 179 $21,921,283.99 37.76 $150,000.01 to $200,000 92 $15,992,261.15 27.55 $200,000.01 to $250,000 11 $2,303,120.54 3.97 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) As of the Reference Date, the average current principal balance for Mortgage Loans in Loan Group 1 is expected to be approximately $110,369. Documentation Program for Mortgage Loans ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Type of Program Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- Full / Alternative 340 $37,408,165.74 64.44% No Income / No Asset 13 $1,120,151.73 1.93 Reduced 149 $17,038,902.62 29.35 Streamlined 24 $ 2,486,653.56 4.28 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== Types of Mortgaged Properties ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Property Type Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- Single Family 416 $45,722,018.76 78.76% Planned Unit Development 67 $7,924,428.06 13.65 Condominium 30 $2,896,800.65 4.99 2-4 Family 10 $1,099,723.66 1.89 Hi Rise Condo 3 $410,902.52 0.71 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== Occupancy Types (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Occupancy Type Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- Primary Residence 495 $55,274,427.40 95.21% Investor Property 20 $1,683,507.07 2.90 Secondary Residence 11 $1,095,939.18 1.89 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) Based upon representations of the related mortgagors at the time of origination. 11 State Distribution of Mortgaged Properties (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan State Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- Arizona 15 $1,566,899.71 2.70% California 73 $9,811,670.47 16.90 Colorado 17 $2,085,436.23 3.59 Florida 30 $2,887,083.81 4.97 Idaho 15 $1,539,288.55 2.65 Illinois 14 $1,838,386.25 3.17 Maryland 11 $1,474,697.24 2.54 Michigan 21 $1,938,781.23 3.34 Minnesota 13 $1,247,438.49 2.15 New Jersey 15 $2,147,075.87 3.70 New Mexico 17 $1,628,581.13 2.81 North Carolina 13 $1,337,318.81 2.30 Ohio 18 $1,697,922.94 2.92 Oregon 18 $2,024,356.27 3.49 Pennsylvania 25 $2,572,275.18 4.43 Tennessee 19 $1,751,836.37 3.02 Texas 34 $3,140,977.02 5.41 Virginia 10 $1,248,461.41 2.15 Washington 38 $4,489,262.90 7.73 Other (Less than 2%) 110 $11,626,123.77 20.03 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) Other includes 31 other states and the District of Columbia with under 2% concentrations individually. No more than approximately 0.80% of the Mortgage Loans in Loan Group 1 will be secured by Mortgaged Properties located in any one postal zip code area. Purpose of Mortgage Loans ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Loan Purpose Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- Purchase 189 $20,637,102.48 35.55% Refinance (rate/term) 122 $13,620,215.34 23.46 Refinance (cash out) 215 $23,796,555.83 40.99 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== 12 Remaining Terms to Maturity (1) ---------------------------------------------------------------------------------------------------- Remaining Term to Maturity (Months) Number of Aggregate Principal Percent of Loan Mortgage Loans Balance Outstanding Group 1 ---------------------------------------------------------------------------------------------------- 319 3 $367,463.38 0.63% 318 104 $11,762,591.12 20.26 317 171 $18,708,387.11 32.23 316 119 $13,281,522.39 22.88 315 83 $8,983,900.76 15.48 314 28 $2,835,672.29 4.88 313 1 $166,864.56 0.29 311 2 $287,816.03 0.50 310 6 $685,453.18 1.18 283 1 $86,821.97 0.15 256 1 $82,441.52 0.14 255 1 $154,352.40 0.27 198 1 $119,528.17 0.21 197 3 $254,595.51 0.44 196 1 $186,188.32 0.32 195 1 $90,274.94 0.16 -------------- ------------------- ------------------ Total 526 $58,053,873.65 100.00% ============== =================== ================== ________________________________________________________ (1) As of the Reference Date, the weighted average remaining term to maturity of the Mortgage Loans in Loan Group 1 is expected to be approximately 315 months. 13 Loan Group 2 Mortgage Rates (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Mortgage Rates (%) Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- 7.500 320 $34,563,537.12 23.07% 7.625 234 $25,264,775.67 16.86 7.750 291 $30,767,481.52 20.53 7.875 218 $21,027,443.29 14.03 8.000 131 $11,687,679.30 7.80 8.125 54 $4,825,359.95 3.22 8.250 136 $10,730,640.98 7.16 8.375 74 $6,083,980.87 4.06 8.500 48 $3,792,331.46 2.53 8.625 3 $220,381.53 0.15 8.750 6 $575,072.03 0.38 8.875 2 $106,199.97 0.07 9.000 4 $191,059.13 0.13 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) The Lender PMI Mortgage Loans in Loan Group 2 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 in Loan Group 2 (as so adjusted) is expected to be approximately 7.791%. Without such adjustment, the weighted average Mortgage Rate of the Mortgage Loans in Loan Group 2 is expected to be approximately 7.808% per annum. Original Loan-to-Value Ratios (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Original Loan-to-Value Ratios (%) Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- 0.01-50.00 101 $8,737,727.72 5.83% 50.01-55.00 40 $4,722,639.96 3.15 55.01-60.00 52 $5,408,067.03 3.61 60.01-65.00 79 $8,437,189.99 5.63 65.01-70.00 120 $11,629,561.90 7.76 70.01-75.00 305 $30,555,067.88 20.39 75.01-80.00 409 $44,020,566.96 29.38 80.01-85.00 112 $9,780,992.16 6.53 85.01-90.00 250 $21,824,619.47 14.57 90.01-95.00 46 $4,012,251.43 2.68 95.01-100.00 7 $707,258.32 0.47 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) The weighted average original Loan-to-Value Ratio of the Mortgage Loans in Loan Group 2 is expected to be approximately 74.66%. 14 Current Mortgage Loan Principal Balances (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Current Mortgage Loan Amounts Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- $ 0.00 to $ 50,000 183 $6,942,049.30 4.63% $ 50,000.01 to $100,000 698 $51,810,204.02 34.58 $100,000.01 to $150,000 427 $52,601,904.35 35.11 $150,000.01 to $200,000 166 $28,520,796.65 19.03 $200,000.01 to $250,000 47 $9,960,988.50 6.65 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) As of the Reference Date, the average current principal balance for Mortgage Loans in Loan Group 2 is expected to be approximately $98,511. Documentation Program for Mortgage Loans ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Type of Program Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- Full / Alternative 675 $60,566,584.54 40.42% No Income / No Asset 105 $9,365,356.76 6.25 Reduced 734 $78,940,295.40 52.68 Streamlined 7 $963,706.12 0.64 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== Types of Mortgaged Properties ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Property Type Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- Single Family 1051 $102,741,752.63 68.57% 2-4 Family 216 $21,746,968.41 14.51 Planned Unit Development 170 $18,043,376.85 12.04 Condominium 75 $6,368,511.18 4.25 Hi Rise Condominium 9 $935,333.75 0.62 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== Occupancy Types (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Occupancy Type Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- Primary Residence 1059 $111,291,036.32 74.28% Investor Property 438 $36,628,168.53 24.45 Second Residence 24 $1,916,737.97 1.28 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) Based upon representations of the related mortgagors at the time of origination. 15 State Distribution of Mortgaged Properties (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan State Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- Arizona 50 $4,711,567.26 3.14% California 175 $23,334,725.96 15.57 Colorado 82 $8,981,380.88 5.99 Florida 154 $12,713,794.62 8.49 Illinois 52 $5,047,527.07 3.37 Massachusetts 41 $4,648,678.09 3.10 Michigan 58 $5,186,634.64 3.46 Nevada 37 $4,011,334.33 2.68 New Jersey 42 $4,280,712.24 2.86 New Mexico 39 $4,121,771.35 2.75 New York 36 $3,992,684.19 2.66 North Carolina 38 $3,380,955.24 2.26 Ohio 62 $5,081,811.37 3.39 Oregon 39 $4,324,012.14 2.89 Pennsylvania 48 $4,797,539.11 3.20 Tennessee 35 $3,044,072.88 2.03 Texas 127 $10,486,456.91 7.00 Utah 31 $3,313,577.29 2.21 Washington 53 $6,274,660.31 4.19 Other (Less than 2%) 322 $28,102,046.94 18.76 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) Other includes 31 other states and the District of Columbia with under 2% concentrations individually. No more than approximately 0.80% of the Mortgage Loans in Loan Group 2 will be secured by Mortgaged Properties located in any one postal zip code area. Purpose of Mortgage Loans ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Loan Purpose Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- Construction 1 184770.44 0.12% Purchase 704 63621387.93 42.46 Refinance (rate/term) 283 30886512.84 20.61 Refinance (cash out) 533 $55,143,271.61 36.80 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== 16 Remaining Terms to Maturity (1) ---------------------------------------------------------------------------------------------------- Number of Aggregate Principal Percent of Loan Remaining Term to Maturity (Months) Mortgage Loans Balance Outstanding Group 2 ---------------------------------------------------------------------------------------------------- 319 10 $1,134,448.74 0.76% 318 568 $57,358,246.56 38.28 317 550 $53,905,679.43 35.98 316 207 $20,896,884.81 13.95 315 55 $4,976,511.76 3.32 314 27 $2,095,058.44 1.40 313 13 $1,153,398.81 0.77 312 6 $454,116.58 0.30 311 5 $396,255.37 0.26 310 28 $2,909,172.52 1.94 309 11 $1,060,289.66 0.71 308 4 $365,575.98 0.24 306 1 $137,609.83 0.09 304 2 $134,807.83 0.09 298 1 $92,731.55 0.06 292 1 $121,751.76 0.08 290 1 $187,746.44 0.13 258 2 $222,358.10 0.15 257 2 $105,520.90 0.07 256 1 $86,604.75 0.06 198 11 $926,694.65 0.62 197 11 $851,301.57 0.57 196 3 $232,598.48 0.16 195 1 $30,578.30 0.02 -------------- ------------------- ------------------ Total 1,521 $149,835,942.82 100.00% ============== =================== ================== ________________________________________________________ (1) As of the Reference Date, the weighted average remaining term to maturity of the Mortgage Loans in Loan Group 2 is expected to be approximately 315 months.
17 EXHIBIT 2 18
Distribution Date: 12/25/01 THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Certificateholder Monthly Distribution Summary ----------------------------------------------------------------------------------------------------- Certificate Pass Class Rate Beginning Through Principal Class Cusip Description Type Balance Rate (%) Distribution ----------------------------------------------------------------------------------------------------- 1A1 12669ATD6 Senior Fix-30/360 54,621,434.46 6.750000 1,582,505.25 2A1 12669ATE4 Senior Fix-30/360 52,954,329.35 6.750000 4,707,287.03 2A2 12669ATF1 Senior Fix-30/360 15,797,265.07 6.500000 1,404,271.60 2A3 12669ATG9 Senior Fix-30/360 25,876,205.30 6.750000 1,399,691.40 2A4 12669ATH7 Senior Fix-30/360 46,054,753.00 6.750000 0.00 2A5 12669ATJ3 Senior Fix-30/360 1,755,251.47 9.000000 156,030.16 PO 12669ATK0 Strip PO Fix-30/360 259,907.05 0.000000 9,465.48 X1 12669AWR1 Strip IO Fix-30/360 45,027,078.36 0.265432 0.00 X2 12669AWR1 Strip IO Fix-30/360 157,535,308.64 0.794362 0.00 M 12669ATP9 Senior Fix-30/360 6,600,665.39 6.750000 12,236.49 B1 12669ATQ7 Senior Fix-30/360 5,683,906.44 6.750000 10,536.98 B2 12669ATR5 Senior Fix-30/360 3,483,684.63 6.750000 6,458.15 B3 12669AWF7 Senior Fix-30/360 2,016,869.45 6.750000 3,738.93 B4 12669AWG5 Senior Fix-30/360 916,759.01 6.750000 1,699.51 B5 12669AWH3 Senior Fix-30/360 1,165,468.24 6.750000 2,160.57 Y 12669AWS9 Senior Fix-30/360 0.00 0.000000 0.00 AR 12669ATN4 Senior Fix-30/360 0.00 6.750000 0.00 ----------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------- Totals 217,186,498.86 9,296,081.55 ----------------------------------------------------------------------------------------------------- (Table continued) ----------------------------------------------------------------------------------------------------- Current Cumulative Interest Total Realized Ending Realized Class Cusip Distribution Distribution Losses Balance Losses ----------------------------------------------------------------------------------------------------- 1A1 12669ATD6 307,245.57 1,889,750.82 0.00 53,038,929.21 0.00 2A1 12669ATE4 297,868.10 5,005,155.13 0.00 48,247,042.32 0.00 2A2 12669ATF1 85,568.52 1,489,840.12 0.00 14,392,993.46 0.00 2A3 12669ATG9 145,553.65 1,545,245.05 0.00 24,476,513.91 0.00 2A4 12669ATH7 259,057.99 259,057.99 0.00 46,054,753.00 0.00 2A5 12669ATJ3 13,164.39 169,194.55 0.00 1,599,221.31 0.00 PO 12669ATK0 0.00 9,465.48 0.00 250,441.58 0.00 X1 12669AWR1 9,959.68 9,959.68 0.00 44,138,066.00 0.00 X2 12669AWR1 104,283.41 104,283.41 0.00 149,835,942.80 0.00 M 12669ATP9 37,128.74 49,365.23 0.00 6,588,428.90 0.00 B1 12669ATQ7 31,971.97 42,508.95 0.00 5,673,369.46 0.00 B2 12669ATR5 19,595.73 26,053.88 0.00 3,477,226.48 0.00 B3 12669AWF7 11,344.89 15,083.82 0.00 2,013,130.52 0.00 B4 12669AWG5 5,156.77 6,856.28 0.00 915,059.51 0.00 B5 12669AWH3 6,555.76 8,716.33 599.56 1,163,307.67 259,702.76 Y 12669AWS9 0.00 0.00 0.00 0.00 0.00 AR 12669ATN4 0.00 0.00 0.00 0.00 0.00 ----------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------- Totals 1,334,455.17 10,630,536.72 599.56 207,890,417.33 259,702.76 -----------------------------------------------------------------------------------------------------
Page 1
Distribution Date: 12/25/01 THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Principal Distribution Detail -------------------------------------------------------------------------------------------------------------- Original Beginning Scheduled Unscheduled Certificate Certificate Principal Accretion Principal Class Cusip Balance Balance Distribution Principal Adjustments -------------------------------------------------------------------------------------------------------------- 1A1 12669ATD6 85,178,650.00 54,621,434.46 1,582,505.25 0.00 0.00 2A1 12669ATE4 134,084,803.00 52,954,329.35 4,707,287.03 0.00 0.00 2A2 12669ATF1 40,000,000.00 15,797,265.07 1,404,271.60 0.00 0.00 2A3 12669ATG9 50,000,000.00 25,876,205.30 1,399,691.40 0.00 0.00 2A4 12669ATH7 46,054,753.00 46,054,753.00 0.00 0.00 0.00 2A5 12669ATJ3 4,444,444.00 1,755,251.47 156,030.16 0.00 0.00 PO 12669ATK0 341,627.00 259,907.05 9,465.48 0.00 0.00 X1 12669AWR1 71,121,001.00 45,027,078.36 0.00 0.00 0.00 X2 12669AWR1 290,565,108.00 157,535,308.64 0.00 0.00 0.00 M 12669ATP9 6,859,131.00 6,600,665.39 12,236.49 0.00 0.00 B1 12669ATQ7 5,906,474.00 5,683,906.44 10,536.98 0.00 0.00 B2 12669ATR5 3,620,097.00 3,483,684.63 6,458.15 0.00 0.00 B3 12669AWF7 2,095,845.00 2,016,869.45 3,738.93 0.00 0.00 B4 12669AWG5 952,657.00 916,759.01 1,699.51 0.00 0.00 B5 12669AWH3 1,524,293.00 1,165,468.24 2,160.57 0.00 0.00 Y 12669AWS9 0.00 0.00 0.00 0.00 0.00 AR 12669ATN4 100.00 0.00 0.00 0.00 0.00 -------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------- Totals 381,062,874.00 217,186,498.86 9,296,081.55 0.00 0.00 -------------------------------------------------------------------------------------------------------------- (Table continued) --------------------------------------------------------------------------------------------------- Net Current Ending Ending Principal Realized Certificate Certificate Class Cusip Distribution Losses Balance Factor --------------------------------------------------------------------------------------------------- 1A1 12669ATD6 1,582,505.25 0.00 53,038,929.21 0.62267867840 2A1 12669ATE4 4,707,287.03 0.00 48,247,042.32 0.35982483653 2A2 12669ATF1 1,404,271.60 0.00 14,392,993.46 0.35982483650 2A3 12669ATG9 1,399,691.40 0.00 24,476,513.91 0.48953027820 2A4 12669ATH7 0.00 0.00 46,054,753.00 1.00000000000 2A5 12669ATJ3 156,030.16 0.00 1,599,221.31 0.35982483051 PO 12669ATK0 9,465.48 0.00 250,441.58 0.73308484663 X1 12669AWR1 0.00 0.00 44,138,066.00 0.62060524148 X2 12669AWR1 0.00 0.00 149,835,942.80 0.51567080380 M 12669ATP9 12,236.49 0.00 6,588,428.90 0.96053405366 B1 12669ATQ7 10,536.98 0.00 5,673,369.46 0.96053406127 B2 12669ATR5 6,458.15 0.00 3,477,226.48 0.96053406414 B3 12669AWF7 3,738.93 0.00 2,013,130.52 0.96053406430 B4 12669AWG5 1,699.51 0.00 915,059.51 0.96053406945 B5 12669AWH3 2,160.57 599.56 1,163,307.67 0.76317851817 Y 12669AWS9 0.00 0.00 0.00 0.00000000000 AR 12669ATN4 0.00 0.00 0.00 0.00000000000 --------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Totals 9,296,081.55 599.56 207,890,417.33 ---------------------------------------------------------------------------------------------------
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Distribution Date: 12/25/01 THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Interest Distribution Detail ---------------------------------------------------------------------------------------------- Beginning Pass Accrued Cumulative Certificate Through Optimal Unpaid Deferred Class Balance Rate (%) Interest Interest Interest ---------------------------------------------------------------------------------------------- 1A1 54,621,434.46 6.750000 307,245.57 0.00 0.00 2A1 52,954,329.35 6.750000 297,868.10 0.00 0.00 2A2 15,797,265.07 6.500000 85,568.52 0.00 0.00 2A3 25,876,205.30 6.750000 145,553.65 0.00 0.00 2A4 46,054,753.00 6.750000 259,057.99 0.00 0.00 2A5 1,755,251.47 9.000000 13,164.39 0.00 0.00 PO 259,907.05 0.000000 0.00 0.00 0.00 X1 45,027,078.36 0.265432 9,959.68 0.00 0.00 X2 157,535,308.64 0.794362 104,283.41 0.00 0.00 M 6,600,665.39 6.750000 37,128.74 0.00 0.00 B1 5,683,906.44 6.750000 31,971.97 0.00 0.00 B2 3,483,684.63 6.750000 19,595.73 0.00 0.00 B3 2,016,869.45 6.750000 11,344.89 0.00 0.00 B4 916,759.01 6.750000 5,156.77 0.00 0.00 B5 1,165,468.24 6.750000 6,555.76 0.00 0.00 Y 0.00 0.000000 0.00 0.00 0.00 AR 0.00 6.750000 0.00 0.00 0.00 ------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------- Totals 217,186,498.86 1,334,455.17 0.00 0.00 --------------------------------------------------------------------------------------------- (Table continued) ---------------------------------------------------------------------------------- Total Net Unscheduled Interest Prepayment Interest Interest Class Due Int Shortfall Adjustment Paid ---------------------------------------------------------------------------------- 1A1 307,245.57 0.00 0.00 307,245.57 2A1 297,868.10 0.00 0.00 297,868.10 2A2 85,568.52 0.00 0.00 85,568.52 2A3 145,553.65 0.00 0.00 145,553.65 2A4 259,057.99 0.00 0.00 259,057.99 2A5 13,164.39 0.00 0.00 13,164.39 PO 0.00 0.00 0.00 0.00 X1 9,959.68 0.00 0.00 9,959.68 X2 104,283.41 0.00 0.00 104,283.41 M 37,128.74 0.00 0.00 37,128.74 B1 31,971.97 0.00 0.00 31,971.97 B2 19,595.73 0.00 0.00 19,595.73 B3 11,344.89 0.00 0.00 11,344.89 B4 5,156.77 0.00 0.00 5,156.77 B5 6,555.76 0.00 0.00 6,555.76 Y 0.00 0.00 0.00 0.00 AR 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- Totals 1,334,455.17 0.00 0.00 1,334,455.17 ----------------------------------------------------------------------------------
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Current Payment Information Factors per $1,000 --------------------------------------------------------------------------------------------------------- Original Beginning Cert. Certificate Notional Principal Class Cusip Balance Balance Distribution --------------------------------------------------------------------------------------------------------- 1A1 12669ATD6 85,178,650.00 641.257339271 18.578660850 2A1 12669ATE4 134,084,803.00 394.931626587 35.106790051 2A2 12669ATF1 40,000,000.00 394.931626672 35.106790050 2A3 12669ATG9 50,000,000.00 517.524106025 27.993827900 2A4 12669ATH7 46,054,753.00 1,000.000000000 0.000000000 2A5 12669ATJ3 4,444,444.00 394.931620625 35.106790051 PO 12669ATK0 341,627.00 760.791896434 27.707049914 X1 12669AWR1 71,121,001.00 633.105239337 0.000000000 X2 12669AWR1 290,565,108.00 542.168706093 0.000000000 M 12669ATP9 6,859,131.00 962.318024604 1.783970885 B1 12669ATQ7 5,906,474.00 962.318032553 1.783971283 B2 12669ATR5 3,620,097.00 962.318035746 1.783971534 B3 12669AWF7 2,095,845.00 962.318036756 1.783972574 B4 12669AWG5 952,657.00 962.318037853 1.783968417 B5 12669AWH3 1,524,293.00 764.595942309 1.417424340 Y 12669AWS9 0.00 0.000000000 0.000000000 AR 12669ATN4 100.00 0.000000000 0.000000000 --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Totals 381,062,874.00 569.949249005 24.395138399 --------------------------------------------------------------------------------------------------------- (Table continued) --------------------------------------------------------------------------------------------------------- Ending Cert. Pass Interest Notional Through Class Cusip Distribution Balance Rate (%) --------------------------------------------------------------------------------------------------------- 1A1 12669ATD6 3.607072533 622.678678401 6.750000 2A1 12669ATE4 2.221490400 359.824836525 6.750000 2A2 12669ATF1 2.139212978 359.824836500 6.500000 2A3 12669ATG9 2.911073096 489.530278200 6.750000 2A4 12669ATH7 5.625000000 1,000.000000000 6.750000 2A5 12669ATJ3 2.961987155 359.824830507 9.000000 PO 12669ATK0 0.000000000 733.084846631 0.000000 X1 12669AWR1 0.140038476 620.605241481 0.265432 X2 12669AWR1 0.358898615 515.670803805 0.794362 M 12669ATP9 5.413038888 960.534053658 6.750000 B1 12669ATQ7 5.413038933 960.534061269 6.750000 B2 12669ATR5 5.413038951 960.534064142 6.750000 B3 12669AWF7 5.413038957 960.534064303 6.750000 B4 12669AWG5 5.413038963 960.534069450 6.750000 B5 12669AWH3 4.300852175 763.178518172 6.750000 Y 12669AWS9 0.000000000 0.000000000 0.000000 AR 12669ATN4 0.000000000 0.000000000 6.750000 --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Totals 3.501929107 545.554110658 ---------------------------------------------------------------------------------------------------------
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Pool Level Data Distrbution Date 12/25/01 Cut-off Date 6/1/98 Determination Date 12/1/01 Accrual Period Begin 11/1/01 End 12/1/01 Number of Days in Accrual Period 30 -------------------------------------------------------------------------------- Collateral Information -------------------------------------------------------------------------------- Group 1 ------- Cut-Off Date Balance 0,497,766.22 Beginning Aggregate Pool Stated Principal Balance 9,651,188.96 Ending Aggregate Pool Stated Principal Balance 8,053,873.65 Beginning Aggregate Certificate Stated Principal Balance 7,186,498.88 Ending Aggregate Certificate Stated Principal Balance 7,890,417.33 Beginning Aggregate Loan Count 539 Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement 13 Ending Aggregate Loan Count 526 Beginning Weighted Average Loan Rate (WAC) 7.259205% Ending Weighted Average Loan Rate (WAC) 7.261185% Beginning Net Weighted Average Loan Rate 6.920948% Ending Net Weighted Average Loan Rate 6.922086% Weighted Average Maturity (WAM) (Months) 315 Servicer Advances 18,635.62 Aggregate Pool Prepayment 1,530,437.66 Pool Prepayment Rate 26.7942 CPR Group 2 ------- Cut-Off Date Balance 0,565,108.01 Beginning Aggregate Pool Stated Principal Balance 7,535,308.62 Ending Aggregate Pool Stated Principal Balance 9,835,942.82 Beginning Aggregate Certificate Stated Principal Balance 7,186,498.88 Ending Aggregate Certificate Stated Principal Balance 7,890,417.33 Beginning Aggregate Loan Count 1587
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Group 2 ------- Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement 66 Ending Aggregate Loan Count 1521 Beginning Weighted Average Loan Rate (WAC) 7.820847% Ending Weighted Average Loan Rate (WAC) 7.825595% Beginning Net Weighted Average Loan Rate 7.544362% Ending Net Weighted Average Loan Rate 7.549058% Weighted Average Maturity (WAM) (Months) 315 Servicer Advances 37,417.42 Aggregate Pool Prepayment 7,364,567.62 Pool Prepayment Rate 43.7025 CPR -------------------------------------------------------------------------------- Certificate Information -------------------------------------------------------------------------------- Group 1 ------- Senior Percentage .9687750556% Senior Prepayment Percentage .0000000000% Subordinate Percentage .0312249444% Subordinate Prepayment Percentage .0000000000% Group 2 ------- Senior Percentage .4164313620% Senior Prepayment Percentage .0000000000% Subordinate Percentage .5835686380% Subordinate Prepayment Percentage .0000000000% Certificate Account Beginning Balance 0.00 Deposit Payments of Interest and Principal 0,512,614.98 Liquidation Proceeds 164,372.26 All Other Proceeds 0.00 Other Amounts 0.00 ------------ Total Deposits 0,676,987.24
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Withdrawals Reimbursement of Servicer Advances 0.00 Payment of Master Servicer Fees 154,458.42 Payment of Sub Servicer Fees 6,235.21 Payment of Other Fees 48,079.44 Payment of Insurance Premium(s) 0.00 Payment of Personal Mortgage Insurance 0.00 Other Permitted Withdrawal per the Pooling and Service Agreement 0.00 Payment of Principal and Interest 0,630,536.70 ------------ Total Withdrawals 0,839,309.77 Ending Balance -114,243.09 Prepayment Compensation Total Gross Prepayment Interest Shortfall 5,031.86 Compensation for Gross PPIS from Servicing Fees 5,031.86 Other Gross PPIS Compensation 0.00 ------------ Total Net PPIS (Non-Supported PPIS) 0.00 Master Servicing Fees Paid 154,458.42 Sub Servicing Fees Paid 6,235.21 Insurance Premium(s) Paid 0.00 Personal Mortgage Insurance Fees Paid 0.00 Other Fees Paid 48,079.44 ------------ Total Fees 208,773.07
---------------------------------------------------------------------------------------------- Delinquency Information ---------------------------------------------------------------------------------------------- Group 1 ------- Delinquency 30 - 59 Days 60 - 89 Days 90+ Days Totals ----------- ------------ ------------ -------- ------ Scheduled Principal Balance 1,880,609.45 469,220.11 74,596.25 2,424,425.81 Percentage of Total Pool Balance 3.239421% 0.808249% 0.128495% 4.176165% Number of Loans 21 4 1 26 Percentage of Total Loans 3.992395% 0.760456% 0.190114% 4.942966%
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 Foreclosure Scheduled Principal Balance 0.00 0.00 0.00 165,629.12 Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.285302% Number of Loans 0 0 0 1 Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.190114% 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 737.87 Group 2 ------- Delinquency 30 - 59 Days 60 - 89 Days 90+ Days Totals ----------- ------------ ------------ -------- ------ Scheduled Principal Balance 3,799,591.50 740,779.00 42,853.08 4,583,223.58 Percentage of Total Pool Balance 2.535834% 0.494393% 0.028600% 3.058828% Number of Loans 33 6 1 40 Percentage of Total Loans 2.169625% 0.394477% 0.065746% 2.629849% Foreclosure ----------- Scheduled Principal Balance 0.00 0.00 0.00 400,880.46 Percentage of Total Pool Balance 0.000000% 0.000000% 0.000000% 0.267546% Number of Loans 0 0 0 3 Percentage of Total Loans 0.000000% 0.000000% 0.000000% 0.197239% 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%
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THE BANK OF NEW YORK 5 Penn Plaza, 16th Fl. NEW YORK, NY 10001 Countrywide Home Loans Mortgage Pass-Through Certificates Attn: Courtney Bartholomew Series 1998-12 212-328-7569 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 599.56 Additional Gains (Recoveries)/Losses 0.00 Total Realized Losses 306,097.58 ----------------------------------------------------------------------------------- Subordination/Credit Enhancement Information ----------------------------------------------------------------------------------- Protection Original Current ---------- -------- ------- Bankruptcy Loss 0.00 0.00 Bankruptcy Percentage 0.000000% 0.000000% Credit/Fraud Loss 0.00 3,810,628.74 Credit/Fraud Loss Percentage 0.000000% 1.833004% Special Hazard Loss 0.00 0.00 Special Hazard Loss Percentage 0.000000% 0.000000% Credit Support Original Current -------------- -------- ------- Class A 381,062,874.00 207,890,417.33 Class A Percentage 100.000000% 100.000000%
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