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<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): July 31, 1998
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION AND
BANK OF AMERICA, FSB
- -------------------------------------------------------------------------------
(EXACT NAME OF REGISTRANTS AS SPECIFIED IN ITS CHARTER)
UNITED STATES
- -------------------------------------------------------------------------------
(STATE OR OTHER JURISDICTION OF INCORPORATION)
333-3525-01
- -------------------------------------------------------------------------------
(COMMISSION FILE NUMBER)
94-1687665
91-0221850
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(I.R.S. EMPLOYER IDENTIFICATION NUMBERS)
555 CALIFORNIA STREET
SAN FRANCISCO, CA 94104
(415) 622-2220
- -------------------------------------------------------------------------------
(ADDRESS AND TELEPHONE NUMBER OF REGISTRANTS' 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 Certificate
Holders pursuant to the Pooling and
Servicing Agreement by and between Bank
of America National Trust and Savings
Association, contract seller, Bank of
America, FSB, acting through its
division, BankAmerica Housing Services,
contract seller and servicer, and The
First National Bank of Chicago, as
Trustee, dated as of March 1, 1998 (a
copy of which agreement was filed by the
registrant with the Commission on April 1, 1998
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 WHEELER
----------------------------------
John W. Wheeler*
Dated: August 24, 1998
San Diego, California
*Mr. Wheeler is president and Division Chief Executive Officer of Bank of
America, FSB.
<PAGE>
BankAmerica Manufactured Housing Contract Trust IV
SENIOR/ SUBORDINATE PASS-THROUGH CERTIFICATES
SERIES 1998-1, INVESTOR NUMBER 19982001
<TABLE>
<CAPTION>
MONTHLY SERVICING SUMMARY PERIOD ENDING: 07/31/98
- ----------------------------------------------------------------------------------------------------------------------------------
Pass Through
Rate Balance Pool Factor
------------------- --------------- -------------
<S> <C> <C> <C> <C> <C>
BOP Scheduled Pool $861,318,641.95 96.1894212%
EOP Scheduled Pool 851,714,003.47 95.1168046%
Determination Date: 08/05/98 Class A-1 Certificate 6.4700% 690,533,910.91 94.0448766%
Remittance Date: 08/10/98 Class M Certificate 6.9400% 67,158,000.00 100.0000000%
Prior Period WAC 10.39% Class B-1 Certificate 7.8100% 53,727,000.00 100.0000000%
Current Period WAC 10.38% Class B-2 Certificate 8.0000% 40,295,092.56 100.0000000%
I. RECAP OF POOL:
<CAPTION>
LOAN
COUNT CLASS A-1 CLASS M CLASS B-1 CLASS B-2
------- --------------- -------------- -------------- --------------
<S> <C> <C> <C> <C> <C>
Beginning Certificate Balance 32,476 $700,138,549.39 $67,158,000.00 $53,727,000.00 $40,295,092.56
Scheduled Principal Reduction (2,120,254.51) 0.00 0.00 0.00
Partial Principal Prepayments (443,758.86) 0.00 0.00 0.00
Principal Prepayments In Full (266) (5,713,396.41) 0.00 0.00 0.00
Contract Liquidations (56) (1,327,228.70) 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 32,154 $690,533,910.91 $67,158,000.00 $53,727,000.00 $40,295,092.56
------- --------------- -------------- -------------- --------------
------- --------------- -------------- -------------- --------------
II. DISTRIBUTIONS:
<CAPTION>
CLASS A-1 CLASS M CLASS B-1 CLASS B-2
-------------- ------------ ------------ ------------
<S> <C> <C> <C> <C>
Principal Distribution Amount $9,604,638.48 $0.00 $0.00 $0.00
Scheduled Interest Distribution Amount 3,774,913.68 388,397.10 349,673.23 268,633.95
Unpaid Interest Shortfall Current Period 0.00 0.00 0.00 0.00
Previously Undistributed Interest Shortfalls 0.00 0.00 0.00 0.00
-------------- ------------ ------------ ------------
Total Distribution $13,379,552.16 $388,397.10 $349,673.23 $268,633.95
-------------- ------------ ------------ ------------
-------------- ------------ ------------ ------------
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AVAILABLE DISTRIBUTION AMOUNT: 15,608,530.37
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-------------
III. MONTHLY ADVANCE
Monthly Advance Amount $0.00
Outstanding Amount Advanced $0.00
IV. RESIDUAL INTEREST DISTRIBUTION AMOUNT $1,222,273.93
-------------
-------------
V. SCHEDULED MONTHLY MORTGAGE PAYMENTS (P&I): $9,577,838.42
Gross Int......... (7,457,583.91)
-------------
Principal......... 2,120,254.51
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-------------
VI. SERVICING FEE: $717,765.53
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-------------
</TABLE>
<PAGE>
VII. DELINQUENCY INFORMATION:
<TABLE>
<CAPTION>
Days Delinquent Number Actual Balance
----------------- ------------ ----------------
<S> <C> <C> <C>
31 - 59 333 $8,413,493.83
60 - 89 95 2,611,691.32
90 or more 73 2,054,413.62
----------------- ------------ ----------------
Total Delinquent 501 $13,079,598.77
------------ ----------------
------------ ----------------
VIII REPOSSESSION INFORMATION:
<CAPTION>
Number Actual Balance
------------ ----------------
<S> <C> <C> <C>
BOP Repossessions 110 $3,036,015.20
Plus Repossessions 83 2,126,542.64
this Month
Less Liquidations (56) ($1,345,762.95)
------------ ----------------
EOP Repossessions 137 $3,816,794.89
------------ ----------------
------------ ----------------
IX. REPURCHASES:
<CAPTION>
Number Actual Balance
------------ ----------------
<S> <C> <C> <C>
Contracts Repurchased 0 $0.00
or Replaced
Eligible Substitute 0 $0.00
Contracts
------------ ----------------
Difference Paid by 0 $0.00
Servicer
------------ ----------------
------------ ----------------
X. RESERVE ACCOUNT SUMMARY:
Reserve Account Deposit Amount $0.00
Reserve Account Draw Amount $0.00
Distribution to Class R Certificateholder $41,875.70
Ending Balance at 31-Jul-98 $8,996,276.70
XI. DELINQUENCY RATIOS
Average 30-Day Delinquency Ratio 0.96%
Average 60-Day Delinquency Ratio 0.44%
Cumulative Realized Loss Ratio 0.19%
Current Realized Loss Ratio 0.12%
XII. LIQUIDATION LOSSES:
Previous Period Aggregate Net $965,823.57
Liquidation Losses:
Current Period Aggregate Net $1,696,453.58
Liquidation Losses:
Current Period Liquidation Losses: $730,630.01
XIV. CERTIFICATE ACCOUNT INTEREST: $56,113.65
</TABLE>
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