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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) October 21, 1997
BA Mortgage Securities, Inc. (as depositor under a Pooling and Servicing
Agreement to be dated as of December 1, 1997 providing for, inter alia, the
issuance of Mortgage Pass-Through Certificates, Series 1997-3)
BA Mortgage Securities, Inc.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 333-34225 94-324470
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(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
345 Montgomery Street, Lower Level #2, Unit #8152, San Francisco, CA 94104
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (415) 622-3676
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
Exhibit Index Located on Page 2
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Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits
Sequential
Numbered
Exhibit Exhibit
Number Page
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99.1 Collateral Term Sheet prepared by Morgan Stanley
Dean Witter in connection with Registrant's
Mortgage Pass-Through Certificates, Series 1997-3
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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.
BA MORTGAGE SECURITIES, INC.
By: /s/ DAVID JAMES
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Name: David James
Title: Vice President
Dated: October 21, 1997
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EXHIBIT 99.1
MORGAN STANLEY DEAN WITTER
BAMS 1997-3-Preliminary Portfolio
% by
Number of Current Current
Mortgage Principal Principal
Original Balance Loans Balance Balance
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1 - 50,000 3 137,451.36 0.05
50,001 - 100,000 11 891,932.82 0.31
100,001 - 150,000 21 2,640,936.56 0.93
150,001 - 200,000 4 685,353.25 0.24
200,001 - 250,000 249 58,165,816.02 20.43
250,001 - 300,000 278 76,428,072.33 26.84
300,001 - 350,000 129 41,848,179.72 14.70
350,001 - 400,000 71 26,655,306.24 9.36
400,001 - 450,000 57 24,327,819.80 8.54
450,001 - 500,000 40 19,189,311.29 6.74
500,001 - 550,000 19 10,008,380.34 3.51
550,001 - 600,000 20 11,549,967.72 4.06
600,001 - 650,000 15 9,612,048.39 3.38
750,001 - 800,000 1 792,347.08 0.28
800,001 - 850,000 1 815,899.96 0.29
950,001 - 1,000,000 1 998,720.28 0.35
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Total: 920 284,747,543.16 100.00
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Min: 39,750.00
Max: 1,000,000.00
Average: 309,621.34
% by
Number of Current Current
Mortgage Principal Principal
Current Coupon Loans Balance Balance
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6.501 - 7.000 4 1,063,189.96 0.37
7.001 - 7.500 159 55,192,193.75 19.38
7.501 - 8.000 588 183,224,132.35 64.35
8.001 - 8.500 158 42,891,039.28 15.06
8.501 - 9.000 10 2,164,922.41 0.76
9.001 - 9.500 1 212,065.41 0.07
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Total: 920 284,747,543.16 100.00
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Min: 6.88
Max: 9.25
WAC: 7.80
% by
Number of Current Current
Mortgage Principal Principal
Original LTV Loans Balance Balance
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=< 50.00 39 12,595,823.98 4.42
50.01 - 55.00 18 6,735,636.23 2.37
55.01 - 60.00 36 11,639,600.71 4.09
60.01 - 65.00 57 19,940,327.51 7.00
65.01 - 70.00 76 23,969,760.08 8.42
70.01 - 75.00 175 53,071,201.18 18.64
75.01 - 80.00 335 108,713,957.58 38.18
80.01 - 85.00 30 7,956,580.09 2.79
85.01 - 90.00 111 29,595,943.18 10.39
90.01 - 95.00 42 10,305,064.16 3.62
95.01 - 100.00 1 223,648.46 0.08
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Total: 920 284,747,543.16 100.00
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Min: 14.39
Max: 95.75
Weighted Average: 74.42
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% by
Number of Current Current
Mortgage Principal Principal
Product Type Loans Balance Balance
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Fixed - 30 Year 903 281,648,506.46 98.91
Fixed - 25 Year 16 2,872,036.70 1.01
Fixed - 20 Year 1 227,000.00 0.08
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Total: 920 284,747,543.16 100.00
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% by
Number of Current Current
Mortgage Principal Principal
Property Type Loans Balance Balance
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Single Family Residence 682 212,590,146.16 74.66
PUD 184 57,803,514.45 20.30
Condo 46 11,880,331.72 4.17
2-4 Family 7 2,375,824.76 0.83
Unknown 1 97,726.07 0.03
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Total: 920 284,747,543.16 100.00
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% by
Number of Current Current
Mortgage Principal Principal
Top 10 States Loans Balance Balance
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California-Northern 338 105,890,324.85 37.19
California-Southern 282 87,566,090.00 30.75
Washington 42 12,760,659.18 4.48
Massachusetts 36 10,875,778.98 3.82
Oregon 22 7,075,021.56 2.48
New Jersey 21 6,693,113.52 2.35
Arizona 21 6,153,279.79 2.16
Texas 15 4,911,052.69 1.72
Connecticut 14 4,391,102.25 1.54
Michigan 15 4,070,765.51 1.43
Other 114 34,360,354.83 12.07
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Total: 920 284,747,543.16 100.00
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THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE
DESCRIPTION OF THE MORTGAGE POOL CONTAINED IN THE PROSPECTUS
SUPPLEMENT RELATING TO THE CERTIFICATES AND SUPERSEDES ALL
INFORMATION CONTAINED IN ANY COLLATERAL TERM SHEETS RELATING
TO THE MORTGAGE POOL PREVIOUSLY PROVIDED BY THE UNDERWRITER.
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