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): June 25, 1999
BAMS
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-6)
(Exact name of registrant as specified in charter)
100 N. Tryon St., Charlotte, NC 28255
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (704)-388-5770
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
BAMS
Mortgage Pass-Through Certificates
Series 1998-6
On June 25, 1999, The Bank of New York, as Trustee for BAMS, Mortgage
Pass-Through Certificates Series 1998-6, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of November 1, 1998, among BAMS as Depositor, BA
MORTGAGE SECURITIES, INC., 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 BAMS, Mortgage Pass-Through
Certificates Series 1998-6 relating to the distribution date
of June 25, 1999 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of November 1, 1998.
<PAGE>
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: June 25, 1999
BAMS
By: /s/ Kelly A. Sheahan
------------------------------
Name: Kelly A. Sheahan
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated June 25, 1999
Payment Date: 06/25/99
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-6
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A-1 96,923,462.66 6.250000% 1,815,955.72 504,809.70 2,320,765.42 0.00 0.00
A-2 156,803,722.85 6.250000% 2,517,772.18 816,686.06 3,334,458.23 0.00 0.00
A-3 3,780,005.00 7.000000% 0.00 22,050.03 22,050.03 0.00 0.00
A-4 38,457,652.00 6.250000% 0.00 200,300.27 200,300.27 0.00 0.00
A-5 9,871,494.00 6.750000% 0.00 55,527.15 55,527.15 0.00 0.00
A-6 2,381,997.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-7 4,560,673.00 6.500000% 0.00 24,703.65 24,703.65 0.00 0.00
A-8 18,206,147.35 6.250000% 351,856.47 94,823.68 446,680.16 0.00 0.00
A-9 9,245,502.12 6.500000% 148,453.54 50,079.80 198,533.34 0.00 0.00
A-10 369,820.53 0.000000% 5,938.15 0.00 5,938.15 0.00 0.00
A-11 3,780,006.00 6.500000% 0.00 20,475.03 20,475.03 0.00 0.00
A-12 4,839,027.00 7.000000% 0.00 28,227.66 28,227.66 0.00 0.00
A-13 179,224.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-14 2,244,655.00 6.250000% 0.00 11,690.91 11,690.91 0.00 0.00
A-15 3,093,004.00 6.500000% 0.00 16,753.77 16,753.77 0.00 0.00
A-16 2,328,283.00 7.000000% 0.00 13,581.65 13,581.65 0.00 0.00
A-17 179,099.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-18 1,893,933.00 5.721250% 0.00 9,029.72 9,029.72 0.00 0.00
A-19 350,729.00 12.305250% 0.00 3,596.51 3,596.51 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M 7,773,473.24 6.250000% 6,605.79 40,486.84 47,092.62 0.00 0.00
B-1 3,388,438.12 6.250000% 2,879.45 17,648.12 20,527.56 0.00 0.00
B-2 1,594,558.77 6.250000% 1,355.03 8,304.99 9,660.03 0.00 0.00
B-3 1,195,918.58 6.250000% 1,016.27 6,228.74 7,245.02 0.00 0.00
B-4 996,598.98 6.250000% 846.90 5,190.62 6,037.52 0.00 0.00
B-5 996,601.54 6.250000% 846.90 5,190.63 6,037.53 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 375,434,025.72 - 4,853,526.39 1,955,385.54 6,808,911.93 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 95,107,506.94 0.00
A-2 154,285,950.67 0.00
A-3 3,780,005.00 0.00
A-4 38,457,652.00 0.00
A-5 9,871,494.00 0.00
A-6 2,381,997.00 0.00
A-7 4,560,673.00 0.00
A-8 17,854,290.88 0.00
A-9 9,097,048.58 0.00
A-10 363,882.38 0.00
A-11 3,780,006.00 0.00
A-12 4,839,027.00 0.00
A-13 179,224.00 0.00
A-14 2,244,655.00 0.00
A-15 3,093,004.00 0.00
A-16 2,328,283.00 0.00
A-17 179,099.00 0.00
A-18 1,893,933.00 0.00
A-19 350,729.00 0.00
Residual R 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M 7,766,867.45 0.00
B-1 3,385,558.68 0.00
B-2 1,593,203.73 0.00
B-3 1,194,902.30 0.00
B-4 995,752.08 0.00
B-5 995,754.64 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 370,580,499.33 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 06/25/99
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-6
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
<TABLE>
<CAPTION>
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------
Senior A-1 96,923,462.66 6.250000% 055240KN4 17.077454 4.747288 894.401809
A-2 156,803,722.85 6.250000% 055240KP9 14.823100 4.808147 908.341165
A-3 3,780,005.00 7.000000% 055240KQ7 0.000000 5.833333 1,000.000000
A-4 38,457,652.00 6.250000% 055240KR5 0.000000 5.208333 1,000.000000
A-5 9,871,494.00 6.750000% 055240KS3 0.000000 5.625000 1,000.000000
A-6 2,381,997.00 0.000000% 055240KT1 0.000000 0.000000 1,000.000000
A-7 4,560,673.00 6.500000% 055240KU8 0.000000 5.416667 1,000.000000
A-8 18,206,147.35 6.250000% 055240KV6 17.566474 4.734083 891.377478
A-9 9,245,502.12 6.500000% 055240KW4 14.823100 5.000473 908.341165
A-10 369,820.53 0.000000% 055240KX2 14.823100 0.000000 908.341165
A-11 3,780,006.00 6.500000% 055240KY0 0.000000 5.416667 1,000.000000
A-12 4,839,027.00 7.000000% 055240KZ7 0.000000 5.833333 1,000.000000
A-13 179,224.00 0.000000% 055240LA1 0.000000 0.000000 1,000.000000
A-14 2,244,655.00 6.250000% 055240LB9 0.000000 5.208333 1,000.000000
A-15 3,093,004.00 6.500000% 055240LC7 0.000000 5.416667 1,000.000000
A-16 2,328,283.00 7.000000% 055240LD5 0.000000 5.833333 1,000.000000
A-17 179,099.00 0.000000% 055240LE3 0.000000 0.000000 1,000.000000
A-18 1,893,933.00 5.721250% 055240LF0 0.000000 4.767708 1,000.000000
A-19 350,729.00 12.305250% 055240LG8 0.000000 10.254375 1,000.000000
Residual R 0.00 6.250000% 055240LL7 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M 7,773,473.24 6.250000% 055240LH6 0.845626 5.182840 994.259701
B-1 3,388,438.12 6.250000% 055240LJ2 0.845626 5.182840 994.259701
B-2 1,594,558.77 6.250000% 055240LK9 0.845626 5.182840 994.259701
B-3 1,195,918.58 6.250000% 055240LM5 0.845626 5.182840 994.259701
B-4 996,598.98 6.250000% 055240LN3 0.845626 5.182840 994.259701
B-5 996,601.54 6.250000% 055240LP8 0.845626 5.182840 994.259701
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 375,434,025.72 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-6
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 370,580,510.87 370,580,510.87
Aggregated loan count 1119 1119
Aggregated average loan rate 7.249433% 7.25
Aggregated prepayment amount 4,534,487.99 4,534,487.99
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 303,195.17 303,195.17
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,407.88 1,407.88
Aggregate advances N/A N/A
Advances this periods 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 100,000.00 100,000.00
Fraud 8,012,011.00 8,012,011.00
Special Hazard 4,721,072.84 4,721,072.84
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.756215% 100.000000% 359,488,436.50
-----------------------------------------------------------------------------
Junior 4.243785% 0.000000% 15,932,038.89
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 231,853.51
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 231,853.51
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
<PAGE>
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 6,808,911.93 6,808,911.93
Principal remittance amount 4,853,526.39 4,853,526.39
Interest remittance amount 1,955,385.54 1,955,385.54
