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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: March 22, 1999
(Date of earliest event reported)
Commission File No. 333-67267
Bank of America Mortgage Securities, Inc.
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Delaware 94-324470
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(State of Incorporation) (I.R.S. Employer 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)
(415) 445-4779
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. Other Events
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Attached as an exhibit are the Computational Materials (as defined in
the no-action letter dated May 21, 1994 issued by the Securities and Exchange
Commission to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated and Kidder Structured Asset Corporation (the "Kidder Letter"))
prepared by NationsBanc Montgomery Securities LLC, which are hereby filed
pursuant to such letter.
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ITEM 7. Financial Statements and Exhibits
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(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(99) Collateral Term Sheets
prepared by NationsBanc
Montgomery Securities LLC in
connection with Bank of America
Mortgage Securities, Inc., Mortgage
Pass-Through Certificates,
Series 1999-2
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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 hereunto duly authorized.
BANK OF AMERICA MORTGAGE
SECURITIES, INC.
March 22, 1999
By: /s/ Russell Thompson
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Russell Thompson
Senior Vice President
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INDEX TO EXHIBITS
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Paper (P) or
Exhibit No. Description Electronic (E)
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(99) Collateral Term Sheets E
prepared by NationsBanc
Montgomery Securities
LLC in connection
with Bank of America
Mortgage Securities, Inc., Mortgage
Pass-Through Certificates, Series 1999-2
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Exhibit No. 99
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NationsBanc Montgomery Securities
NationsBanc Montgomery Securities LLC
NationsBank
Bank of America Mortgage Securities, Inc.
BOAMS 1999-2
30 Year Jumbo Fixed Rate Product
Collateral Description
<TABLE>
<S> <C>
Product Jumbo 30 Year Fixed
Amount 500,000,000 +/-5%
Settle March 30, 1999
Gross WAC 7.200% +/-10bps
WAC Range Range (less than) 200 bps
Servicing Fee 25 bps
WAM 358 +/-2 mos
Weighted Average LTV (less than or)=75.00%
LTV>80% and (less than) 90.01% (less than) 10.00%
LTV>90% (less than) 4.00%
Maximum Loan Amount $1,250,000
Average Loan Balance $340,000 +/- $20,000
Occupancy (more than) 90% Owner Occupied
(more than) 95% Primary
(less than) 4% Secondary
(less than) 2% Investor
Delinquency All Current
Property Type (more than) 95% SF and PUD
Documentation Type (more than) 97% Full/Alt
Loan Purpose (less than) 20% cash-out
State Concentration (less than or)=45% CA
Zip Code Concentration No Greater than 2%
Delivery Variance Plus/Minus 2%
PMI All Loans (more than) 80% LTV
Approximate Subordination 4.00% +/-50 bps
Expected Rating Agencies Moody's or S & P plus 1 other
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and
NationsBanc Montgomery Securities LLC (the "Underwriter") is not soliciting any
action based upon it. This material is not to be construed as an offer to sell
or the solicitation of any offer to buy any security in any jurisdiction where
such an offer or solicitation would be illegal. This material is based on
information that the Underwriter consider reliable, but the Underwriter does not
represent that it is accurate or complete and it should not be relied upon as
such. By accepting this material the recipient agrees that it will not
distribute or provide the material to any other person. The information
contained in this material may pertain to securities that ultimately are not
sold. The information contained in this material may be based on assumptions
regarding market conditions and other matters as reflected herein. The
Underwriter makes no representation regarding the reasonableness of such
assumptions or the likelihood that any of such assumptions will coincide with
actual market conditions or events, and this material should not be relied upon
for such purposes. The Underwriter and its affiliates, officers, directors,
partners and employees, including persons involved in the preparation of
issuance of this material may, from time to time, have long or short positions
in, and buy and sell, the securities mentioned therein or derivatives thereof
(including options). This material may be filed with the Securities and Exchange
Commission (the "SEC") and incorporated by reference into an effective
registration statement previously filed with the SEC under Rule 415 of the
Securities Act of 1933, including all cases where the material does not pertain
to securities that are ultimately offered for sale pursuant to such registration
statement. Information contained in this material is current as of the date
appearing on this material only. Information in this material regarding any
assets backing any securities discussed herein supersedes all prior information
regarding such assets. Any information in the material, whether regarding assets
backing any securities discussed herein or otherwise, will be superseded by the
information contained in any final prospectus for any securities actually sold
to you. This material is furnished solely by the Underwriter and not by the
issuer of the securities. The issuer of the securities has not prepared,
reviewed or participated in the preparation of this material, is not responsible
for the accuracy of this material and has not authorized the dissemination of
this material. The Underwriter is acting as underwriter and not acting as agent
for the issuer in connection with the proposed transaction.
