SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT

                    Pursuant to Section 13 or 15(d) of the

                        Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): August 25, 1998

                                   CWMBS,INC.

                                  (Depositor)

 (Issuer in respect of Manufactured Housing Contract Pass-Through Certificates,

                (Exact name of registrant as specified in charter)

Delaware                      33-63714                      95-4449516
(State or other               (Commission File No.)         (I.R.S. Employer
    jurisdiction of                                         Identification No.)
    organization)



155 N. Lake Avenue, Pasadena, CA                            91110-7137
(Address of principal executive offices)                    (Zip Code)


Registrant's Telephone Number, including area code: (818)-304-4428

                                 Not Applicable
              (Former name, former address and former fiscal year,
                          if changed since last report)




Item 5.  Other Events

                                   CWMBS,INC.
            Manufactured Housing Contract Pass-Through Certificates
                                 Series 1998-2

On  August  25,  1998,  The  Bank  of  New  York,  as  Trustee  for  CWMBS,INC.,
Manufactured  Housing  Contract  Pass-Through Certificates Series 1998-2, made a
monthly  distribution  to  Certificate  holders  of  principal  and/or  interest
pursuant to the Pooling and Servicing Agreement, dated as of July 1, 1998, among
CWMBS,INC. as Depositor, INDYMAC, Seller and Master Servicer and The Bank of New
York, as Trustee.

Item 7.  Financial Statements and Exhibits

                    (c) Exhibits

Exhibit No.                               Description

99                  Report  to  Holders  of  CWMBS,INC.,  Manufactured  Housing
                    Contract Pass-Through Certificates Series 1998-2 relating to
                    the  distribution  date  of  August 25, 1998 prepared by The
                    Bank of New York, as Trustee under the Pooling and Servicing
                    Agreement dated as of July 1, 1998.







                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Dated: August 25, 1998


                                   CWMBS,INC.


                          By: /s/ Kelly A. Sheahan
                              ------------------------------
                          Name:   Kelly A. Sheahan
                                  Assistant Treasurer
                                  The Bank of New York,
                                  as Trustee







                                 EXHIBIT INDEX



Exhibit


99                  Monthly Remittance Statement dated August 25, 1998