|
|
|
|
|
|
|
|
|
|
|
|
|
<PAGE>
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 report): August 31, 1997
BANKAMERICA MANUFACTURED HOUSING CONTRACT TRUST II
BANK OF AMERICA, FSB
- --------------------------------------------------------------------------------
(EXACT NAME OF REGISTRANTS AS SPECIFIED IN ITS CHARTER)
UNITED STATES
- --------------------------------------------------------------------------------
(STATE OR OTHER JURISDICTION OF INCORPORATION)
333-3200
--------
(COMMISSION FILE NUMBER)
91-0221850
- --------------------------------------------------------------------------------
(I.R.S. EMPLOYER IDENTIFICATION NUMBER)
555 CALIFORNIA STREET
SAN FRANCISCO, CA 94104
(415) 622-2220
- --------------------------------------------------------------------------------
(ADDRESS AND TELEPHONE NUMBER OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)
<PAGE>
Item 5. Other Events
(a) Monthly Report
The following are filed herewith. The exhibit numbers correspond with Item 601
(b) of Regulation S-K.
Exhibit No. Description
20 Monthly Statements mailed to
Certificateholders pursuant to the Pooling
and Servicing Agreement by and between
BankAmerica Housing Services, an
unincorporated division of Bank of America,
FSB, and The First National Bank of Chicago,
as Trustee, dated as of July 31, 1997 (a copy
of which agreement was filed by the
registrant with the Commission on August 7,
1997 as an exhibit to a report on Form 8-K).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrants duly caused this report to be signed on their behalf by the
undersigned thereunto duly authorized.
BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION
BANK OF AMERICA, FSB
BY: /S/ John W. Wheeler
---------------------
John W. Wheeler*
Dated: September 16, 1997
San Diego, California
* Mr. Wheeler is president and Division Chief Executive Officer of Bank of
America, FSB.
<PAGE>
[LOGO] BANKAMERICA MANUFACTURED HOUSING CONTRACT TRUST II
SENIOR/ SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1997-1, INVESTOR NUMBER 19972001
MONTHLY SERVICING SUMMARY PERIOD ENDING: 08/31/97
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Pass Through
Rate Balance Pool Factor
------------ ---------------- -------------
<S> <C> <C> <C> <C> <C>
BOP Scheduled Pool $260,354,866.59 99.3738785%
Determination Date: 09/05/97 EOP Scheduled Pool 259,487,906.01 99.0429716%
Remittance Date: 09/10/97 Class A-1 Certificate 5.9100% 22,992,630.71 90.1671793%
Class A-2 Certificate 6.0150% 18,000,000.00 100.0000000%
Class A-3 Certificate 6.0600% 20,500,000.00 100.0000000%
Class A-4 Certificate 6.1950% 29,500,000.00 100.0000000%
Class A-5 Certificate 6.2650% 14,300,000.00 100.0000000%
Prior Period WAC 10.72% Class A-6 Certificate 6.3400% 15,500,000.00 100.0000000%
Current Period WAC 10.72% Class A-7 Certificate 6.5800% 39,300,000.00 100.0000000%
Class A-8 Certificate 6.7250% 26,000,000.00 100.0000000%
Senior Percentage 100.00% Class A-9 Certificate 7.0150% 27,545,000.00 100.0000000%
Class M Percentage 0.00% Class M Certificate 6.8000% 22,270,000.00 100.0000000%
Class B Percentage 0.00% Class B-1 Certificate 6.9400% 15,720,000.00 100.0000000%
Class B-2 Certificate 7.7000% 7,860,275.30 100.0000000%
I. RECAP OF POOL: Loan
Count CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
----- -------------- -------------- -------------- ---------------
Beginning Certificate Balance 8,731 $23,859,591.29 $18,000,000.00 $20,500,000.00 $29,500,000.00
Scheduled Principal Reduction (355,307.95) 0.00 0.00 0.00
Partial Principal Prepayments (62,437.93) 0.00 0.00 0.00
Principal Prepayments In Full (19) (404,068.98) 0.00 0.00 0.00
Contract Liquidations (2) (45,145.72) 0.00 0.00 0.00
Contract Repurchases 0 0.00 0.00 0.00 0.00
Previously Undistributed
Shortfalls 0.00 0.00 0.00 0.00
----- -------------- -------------- -------------- ---------------
Remaining Certificate Balance 8,710 $22,992,630.71 $18,000,000.00 $20,500,000.00 $29,500,000.00
----- -------------- -------------- -------------- ---------------
----- -------------- -------------- -------------- ---------------
CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
-------------- -------------- -------------- --------------
Beginning Certificate Balance $14,300,000.00 $15,500,000.00 $39,300,000.00 $26,000,000.00
Scheduled Principal Reduction 0.00 0.00 0.00 0.00
Partial Principal Prepayments 0.00 0.00 0.00 0.00
Principal Prepayments In Full 0.00 0.00 0.00 0.00
Contract Liquidations 0.00 0.00 0.00 0.00
Contract Repurchases 0.00 0.00 0.00 0.00
Previously Undistributed Shortfalls 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------
Remaining Certificate Balance $14,300,000.00 $15,500,000.00 $39,300,000.00 $26,000,000.00
-------------- -------------- -------------- --------------
-------------- -------------- -------------- --------------
CLASS A-9 CLASS M CLASS B-1 CLASS B-2
-------------- -------------- -------------- -------------
Beginning Certificate Balance $27,545,000.00 $22,270,000.00 $15,720,000.00 $7,860,275.30
Scheduled Principal Reduction 0.00 0.00 0.00 0.00
Partial Principal Prepayments 0.00 0.00 0.00 0.00
Principal Prepayments In Full 0.00 0.00 0.00 0.00
Contract Liquidations 0.00 0.00 0.00 0.00
Contract Repurchases 0.00 0.00 0.00 0.00
Previously Undistributed Shortfalls 0.00 0.00 0.00 0.00
-------------- -------------- -------------- -------------
Remaining Certificate Balance $27,545,000.00 $22,270,000.00 $15,720,000.00 $7,860,275.30
-------------- -------------- -------------- -------------
-------------- -------------- -------------- -------------
Page 1
<PAGE>
II. DISTRIBUTIONS:
CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4
----------- ---------- ----------- -----------
Principal Distribution Amount $866,960.58 $0.00 $0.00 $0.00
Interest Distribution Amount 117,508.49 90,225.00 103,525.00 152,293.75
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
----------- ---------- ----------- -----------
Total Distribution $984,469.07 $90,225.00 $103,525.00 $152,293.75
----------- ---------- ----------- -----------
----------- ---------- ----------- -----------
CLASS A-5 CLASS A-6 CLASS A-7 CLASS A-8
----------- ---------- ----------- -----------
Principal Distribution Amount $0.00 $0.00 $0.00 $0.00
Interest Distribution Amount 74,657.92 81,891.67 215,495.00 145,708.33
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
----------- ---------- ----------- -----------
Total Distribution $74,657.92 $81,891.67 $215,495.00 $145,708.33
----------- ---------- ----------- -----------
----------- ---------- ----------- -----------
CLASS A-9 CLASS M CLASS B-1 CLASS B-2
----------- ----------- ----------- -----------
Principal Distribution Amount $0.00 $0.00 $0.00 $0.00
Interest Distribution Amount 161,023.48 126,196.67 90,914.00 50,436.77
Unpaid Interest Shortfall 0.00 0.00 0.00 0.00
----------- ----------- ----------- -----------
Total Distribution $161,023.48 $126,196.67 $90,914.00 $50,436.77
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------
III. SCHEDULED MONTHLY MORTGAGE PAYMENTS (P&I): Total P&I ... $2,681,144.76
Gross Interest ... (2,325,836.81)
--------------
Scheduled Principal ... 355,307.95
--------------
--------------
IV. SERVICING FEE: $216,962.39
-------------
-------------
V. DELINQUENCY INFORMATION:
Days Delinquent Number Actual Balance
----------------- ------------- --------------
31 - 59 105 $3,117,226.61
60 - 89 27 781,950.19
90 or more 0 0.00
----------------- ------------- --------------
Total Delinquent 132 $3,899,176.80
------------- --------------
------------- --------------
VI. REPOSSESSION INFORMATION: Number Actual Balance
------------- --------------
BOP Repossessions 3 $80,732.53
Plus Repossessions this Month 9 261,630.53
Less Liquidations (2) ($45,275.03)
------------- --------------
EOP Repossessions 10 $297,088.03
------------- --------------
------------- --------------
Page 2
<PAGE>
VII. REPURCHASES: Number Actual Balance
------------- --------------
Contracts Repurchased or Replaced 0 $0.00
Eligible Substitute Contracts 0 $0.00
Difference Paid by Servicer 0 $0.00
------------- --------------
Total Repurchases 0 $0.00
------------- --------------
------------- --------------
VIII. RESERVE ACCOUNT ACTIVITY
Reserve Fund Beginning Balance $0.00
Reserve Fund Draw Amount $0.00
Reserve Fund Deposit Amount $0.00
IX. MONTHLY ADVANCE
Monthly Advance Amount $0.00
Outstanding Amount Advanced $0.00
X. DELINQUENCY RATIOS
Average 30-Day Delinquency Ratio 0.60%
Average 60-Day Delinquency Ratio 0.10%
Cumulative Realized Loss Ratio 0.01%
Current Realized Loss Ratio 0.00%
XI. RESIDUAL INTEREST DISTRIBUTION AMOUNT $556,491.10
-------------
-------------
XII. LIQUIDATION LOSSES:
Previous Period Aggregate Net Liquidation Losses: $0.00
Current Period Aggregate Net Liquidation Losses: $15,789.38
Current Period Liquidation Losses: $15,789.38
XIII. MISC.
Class M Principal Distribution Test Met? NO
Class B-1 Principal Distribution Test Met? NO
Clause X Amount 7,860,275.30
Clause Y Amount 5,239,906.00
Clause X Amount equal to or less than Clause Y Amount? NO
</TABLE>
Page 3
|
|