March 30, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: BA Mortgage Securities, Inc. Mortgage Pass-Through Certificates,
Series 1997-3; File No. 333-34225.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of December 1, 1997 (the "Pooling and Servicing Agreement")
among BA Mortgage Securities, Inc. as the Depositor (the
"Depositor"), Bank of America, Federal Savings Bank and Bank of
America National Trust and Savings Association as Master Servicers
(together the "Master Servicers"), and Bankers Trust Company of
California, N.A., as trustee (the "Trustee).
The Series 1997-3 Mortgage Pass-Through Certificates (the "Certificates"
will evidence the entire beneficial ownership interest in a trust fund
(the "Trust Fund") consisting primarily of a pool of conventional,
fixed-rate, one- to four-family first mortgage loans (the
"Mortgage Loans") to be deposited by BA Mortgage Securities, Inc. (the
"Depositor") into the Trust Fund for the benefit of the
Certificateholders. Only Class A-1, Class A-2, Class A-3, Class A-4,
Class A-5, Class A-6, Class A-7, Class A-8, Class PO, and Class M
Class B-1, Class B-2, Class R-I, and Class R-II (the "Offered
Certificates") are offered hereby.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-05201-01). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for BA Mortgage Securities, Inc. Mortgage
Pass-Through Certificates, Series 1997-3.
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): December 1,
1997
BA MORTGAGE SECURITIES, INC.
(as the Depositor (the "Depositor"), Bank of America, Federal
Savings Bank and Bank of America National Trust and Savings
Association, as Master Servicers (together the "Master
Servicers"), and Bankers Trust Company of California, N.A.,
as trustee (the "Trustee) under the Pooling and Servicing
Agreement, dated as of December 1, 1997, providing for the
issuance of the Mortgage Pass-Through Certificates, Series
1997-3).
BA MORTGAGE SECURITIES, INC.
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-34225 94-324470
(Commission File Number) (I.R.S. Employer Identification No.)
345 MONTGOMERY STREET,
LOWER LEVEL #2, UNIT #8152
SAN FRANCISCO, CALIFORNIA 94104
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (415) 622-3676
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Report to Certificateholders as to distributions made on January
26, 1998, and filed with the Securities and Exchange Commission on Form
8-K on March 30, 1998.
Monthly Report to Certificateholders as to distributions made on February
25, 1998, and filed with the Securities and Exchange Commission on Form
8-K on March 30, 1998.
Monthly Report to Certificateholders as to distributions made on March
25, 1998, and filed with the Securities and Exchange Commission on Form
8-K on March 30, 1998.
SIGNATURE
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.
Bankers Trust Company of California,
N.A., not in its individual
capacity, but solely as a duly
authorized agent of the Registrant
pursuant to the Pooling and
Servicing Agreement, dated as of
December 1, 1997.
Date: March 30, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 4
dated as of January 26, 1998.
Monthly Remittance Statement to the Certificateholders 17
dated as of February 25, 1998.
Monthly Remittance Statement to the Certificateholders 22
dated as of March 25, 1998.
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
REMIC I
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
T 50.00 50.00 0.30 50.00
U 47,827,000.00 47,827,000.00 358,702.50 549,172.95
V 334,789,000.00 334,789,000.00 1,952,935.84 3,844,210.63
W 1,153,596.47 1,153,596.47 0.00 969.80
X 17,035,403.96 17,035,403.96 102,922.23 12,330.11
Y 0.00 0.00 35,209.88 0.00
Z 0.00 0.00 56,642.18 0.00
R-1 50.00 50.00 0.30 50.00
Totals 400,805,100.43 400,805,100.03 2,506,413.23 4,406,783.49
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
T 50.30 0.00 0.00 0.00
U 907,875.45 0.00 0.00 47,277,827.05
V 5,797,146.47 0.00 0.00 330,944,789.37
W 969.80 0.00 0.00 1,152,626.67
X 115,252.34 0.00 0.00 17,023,073.85
Y 35,209.88 0.00 0.00 0.00
Z 56,642.18 0.00 0.00 0.00
R-1 50.30 0.00 0.00 0.00
Totals 6,913,196.72 0.00 0.00 396,398,316.94
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
T 1,000.000000 6.000000 1,000.000000 1,006.000000
U 1,000.000000 7.500000 11.482488 18.982488
V 1,000.000000 5.833333 11.482488 17.315821
W 1,000.000000 0.000000 0.840675 0.840675
X 1,000.000000 6.041667 0.723793 6.765460
Y 0.000000 0.098426 0.000000 0.098426
Z 0.000000 0.158338 0.000000 0.158338
R-I 055240CR4 1,000.000000 6.000000 1,000.000000 1,006.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
T 0.000000 7.000000% 7.000000%
U 988.517512 9.000000% 9.000000%
V 988.517512 7.000000% 7.000000%
W 999.159325 0.000000% 0.000000%
X 999.276207 7.250000% 7.250000%
Y 0.000000 0.118112% NA
Z 0.000000 0.190004% NA
R-I 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: December 31, 1997 Irvine, CA 92714
Distribution Date: January 26, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 238,406,000.00 238,406,000.00 1,390,701.67 3,844,210.63
A-2 34,027,000.00 34,027,000.00 198,490.83 0.00
A-3 27,305,000.00 27,305,000.00 159,279.17 0.00
A-4 35,051,000.00 35,051,000.00 204,464.17 0.00
A-5 47,827,000.00 47,827,000.00 246,607.97 549,172.95
A-6 0.00 0.00 112,094.53 0.00
A-7 0.00 0.00 53,209.88 0.00
A-8 0.00 0.00 56,642.18 0.00
PO 1,153,596.47 1,153,596.47 0.00 969.80
M 7,015,000.96 7,015,000.00 42,382.29 5,077.41
B-1 4,609,000.00 4,609,000.00 27,846.04 3,335.96
B-2 2,004,000.00 2,004,000.00 12,107.50 1,450.48
B-3 1,403,000.00 1,403,000.00 8,476.46 1,015.48
B-4 1,002,000.00 1,002,000.00 6,053.75 725.24
B-5 1,002,403.96 1,002,403.96 6,056.19 725.54
R-II 50.00 50.00 0.30 50.00
Totals 400,805,050.43 400,805,050.43 2,506,412.93 4,406,733.49
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 5,234,912.30 0.00 0.00 234,561,789.37
A-2 198,490.83 0.00 0.00 34,027,000.00
A-3 159,279.17 0.00 0.00 27,305,000.00
A-4 204,464.17 0.00 0.00 35,051,000.00
A-5 795,780.92 0.00 0.00 47,277,827.05
A-6 112,094.53 0.00 0.00 0.00
A-7 53,209.88 0.00 0.00 0.00
A-8 56,642.18 0.00 0.00 0.00
PO 969.80 0.00 0.00 1,152,626.67
M 47,459.70 0.00 0.00 7,009,922.59
B-1 31,182.00 0.00 0.00 4,605,664.04
B-2 13,557.98 0.00 0.00 2,002,549.52
B-3 9,491.94 0.00 0.00 1,401,984.52
B-4 6,778.99 0.00 0.00 1,001,274.76
B-5 6,781.73 0.00 0.00 1,001,678.42
R-II 50.30 0.00 0.00 0.00
Totals 6,913,146.42 0.00 0.00 396,398,316.94
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 055240CA1 1,000.000000 5.833333 16.124639 21.957972
A-2 055240CB9 1,000.000000 5.833333 0.000000 5.833333
A-3 055240CC7 1,000.000000 5.833333 0.000000 5.833333
A-4 055240CD5 1,000.000000 5.833333 0.000000 5.833333
A-5 055240CE3 1,000.000000 5.156250 11.482488 16.638738
A-6 055240CF0 0.000000 2.343750 0.000000 2.343750
A-7 055240CG8 0.000000 2.555550 0.000000 2.555550
A-8 055240CH6 0.000000 4.111116 0.000000 4.111116
PO 055240CJ2 1,000.000000 0.000000 0.840675 0.840675
M 055240CK9 1,000.000000 6.041666 0.723793 6.765460
B-1 055240CL7 1,000.000000 6.041666 0.723793 6.765459
B-2 055240CM5 1,000.000000 6.041667 0.723792 6.765459
B-3 055240CN3 1,000.000000 6.041668 0.723792 6.765460
B-4 055240CP8 1,000.000000 6.041667 0.723792 6.765459
B-5 055240CQ6 1,000.000000 6.041666 0.723800 6.765466
R-II 055240CS2 1,000.000000 6.000000 1,000.000000 1,006.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 983.875361 7.000000% 7.000000%
A-2 1,000.000000 7.000000% 7.000000%
A-3 1,000.000000 7.000000% 7.000000%
A-4 1,000.000000 7.000000% 7.000000%
A-5 988.517512 6.187500% 6.105470%
A-6 0.000000 2.812500% 2.894530%
A-7 0.000000 3.066660% NA
A-8 0.000000 4.933340% NA
PO 999.159325 0.000000% 0.000000%
M 999.276207 7.250000% 7.250000%
B-1 999.276207 7.250000% 7.250000%
B-2 999.276208 7.250000% 7.250000%
B-3 999.276208 7.250000% 7.250000%
B-4 999.276208 7.250000% 7.250000%
B-5 999.276200 7.250000% 7.250000%
R-II 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: December 31, 1997 Irvine, CA 92714
Distribution Date: January 26, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: January 26, 1998
MORTGAGE POOL INFORMATION:
Beginning Number of Loans in Pool 1,240
Ending Number of Loans in Pool 1,227
Beginning Balance of Pool 400,805,100.43
Less: Scheduled Principal 290,173.64
Principal Prepayments 4,116,609.85
Repurchases 0.00
Liquidation 0.00
Other Unscheduled Principal 0.00 (4,406,783.49)
Ending Balance of Pool 396,398,316.94
Weighted Average Remaining Term to Maturity 355
Weighted Average Mortgage Rate 7.54136%
Beginning Balance of Premium Mortgage Loans 357,730,181.64
Stripped Interest Rate 0.308116%
Current Realized Losses on the Pool 0.00
Cumulative Realized Losses on the Pool 0.00
Delinquent, Bankruptcy, Loans Loans Loans
Foreclosure and REO 30 to 59 60 to 89 90 Plus in in in
Loan Information Days Days Days Bankruptcy Foreclosure REO
Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
% of Pool Balance 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
Number of Loans 0 0 0 0 0 0
% of Loans 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.000%
Book Value of REO Properties NA
Aggregate Recoveries on Previously Foreclosed Loans
(due to a breach of representation or warranty) 0.00
Servicing Information:
Services Fees Accrued during the current due period 83,501.06
Plus: Additional servicing compensation 0.00
Less: Amts. To cover prepayment Int. Shortfall 4,925.26
Delinquent Services Fees 1,030.94 (5,956.20)
Servicing Fees Collected for the Current Due Period 77,544.86
Advanced Principal 3,575.76
Advanced Interest 31,203.14
BA MORTGAGE SECURITIES,INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3
STATEMENTS TO CERTIFICATEHOLDERS
Distribution Date: January 26, 1998
Other Cumulative
Prepayment Unscheduled Certificate Unpaid Cumulative
Principal Principal Interest Interest Realized
Class Distributed Distributed Shortfall Shortfall Losses
A-1 3,601,898.06 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00
A-5 514,556.87 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00
A-7 0.00 0.00 0.00 0.00 0.00
A-8 0.00 0.00 0.00 0.00 0.00
PO 61.23 0.00 0.00 0.00 0.00
M 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 0.00 0.00
B-3 0.00 0.00 0.00 0.00 0.00
B-4 0.00 0.00 0.00 0.00 0.00
B-5 0.00 0.00 0.00 0.00 0.00
R-II 46.85 0.00 0.00 0.00 0.00
R-I 46.85
TOTALS 4,116,609.85 0.00 0.00 0.00 0.00
OTHER REPORTING ITEMS:
SENIOR PERCENTAGE 95.74%
SENIOR PREPAYMENT PRECENTAGE 100.00%
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 12,330.11
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURED NO
BANKRUPTCY AMOUNT 100,000.00
FRAUD LOSS AMOUNT 8,016,102.01
SPECIAL HAZARD AMOUNT 4,008,051.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD 0.00
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
T 50.00 0.00 0.00 50.00
U 47,827,000.00 47,277,827.05 354,583.70 723,751.27
V 334,789,000.00 330,944,789.37 1,930,511.27 5,066,258.90
W 1,153,596.47 1,152,626.67 0.00 1,063.92
X 17,035,403.96 17,023,073.85 102,847.75 12,388.77
Y 0.00 0.00 32,418.02 0.00
Z 0.00 0.00 57,269.31 0.00
R-1 50.00 0.00 0.30 0.00
Totals 400,805,100.43 396,398,316.94 2,477,630.05 5.803,462.86
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
T 0.00 0.00 0.00 0.00
U 1,078,334.97 0.00 0.00 46,554,075.78
V 6,996,770.17 0.00 0.00 325,878,530.47
W 1,063.92 0.00 0.00 1,151,562.75
X 115,236.52 0.00 0.00 17,010,685.08
Y 32,418.02 0.00 0.00 0.00
Z 57,269.31 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
Totals 8,281,092.91 0.00 0.00 390,594,854.08
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
T 0.000000 0.000000 0.000000 0.00000
U 988.517512 7.413881 15.132692 22.546573
V 988.517512 5.766352 15.132692 20.899044
W 999.159325 0.000000 0.922264 0.922264
X 999.276207 6.037294 0.727237 6.764531
Y 0.000000 0.090621 0.000000 0.090621
Z 0.000000 0.160091 0.000000 0.160091
R-I 055240CR4 0.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
T 0.000000 7.000000% 7.000000%
U 973.384820 9.000000% 9.000000%
V 973.384820 7.000000% 7.000000%
W 998.237061 0.000000% 0.000000%
X 998.548970 7.250000% 7.250000%
Y 0.000000 0.110091% NA
Z 0.000000 0.194485% NA
R-I 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: December 31, 1997 Irvine, CA 92714
Distribution Date: January 26, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 238,406,000.00 238,406,000.00 1,390,701.67 3,844,210.63
A-2 34,027,000.00 34,027,000.00 198,490.83 0.00
A-3 27,305,000.00 27,305,000.00 159,279.17 0.00
A-4 35,051,000.00 35,051,000.00 204,464.17 0.00
A-5 47,827,000.00 47,827,000.00 246,607.97 549,172.95
A-6 0.00 0.00 112,094.53 0.00
A-7 0.00 0.00 53,209.88 0.00
A-8 0.00 0.00 56,642.18 0.00
PO 1,153,596.47 1,153,596.47 0.00 969.80
M 7,015,000.96 7,015,000.00 42,382.29 5,077.41
B-1 4,609,000.00 4,609,000.00 27,846.04 3,335.96
B-2 2,004,000.00 2,004,000.00 12,107.50 1,450.48
B-3 1,403,000.00 1,403,000.00 8,476.46 1,015.48
B-4 1,002,000.00 1,002,000.00 6,053.75 725.24
B-5 1,002,403.96 1,002,403.96 6,056.19 725.54
R-II 50.00 50.00 0.30 50.00
Totals 400,805,050.43 400,805,050.43 2,506,412.93 4,406,733.49
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 5,234,912.30 0.00 0.00 234,561,789.37
A-2 198,490.83 0.00 0.00 34,027,000.00
A-3 159,279.17 0.00 0.00 27,305,000.00
A-4 204,464.17 0.00 0.00 35,051,000.00
A-5 795,780.92 0.00 0.00 47,277,827.05
A-6 112,094.53 0.00 0.00 0.00
A-7 53,209.88 0.00 0.00 0.00
A-8 56,642.18 0.00 0.00 0.00
PO 969.80 0.00 0.00 1,152,626.67
M 47,459.70 0.00 0.00 7,009,922.59
B-1 31,182.00 0.00 0.00 4,605,664.04
B-2 13,557.98 0.00 0.00 2,002,549.52
B-3 9,491.94 0.00 0.00 1,401,984.52
B-4 6,778.99 0.00 0.00 1,001,274.76
B-5 6,781.73 0.00 0.00 1,001,678.42
R-II 50.30 0.00 0.00 0.00
Totals 6,913,146.42 0.00 0.00 396,398,316.94
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 055240CA1 1,000.000000 5.833333 16.124639 21.957972
A-2 055240CB9 1,000.000000 5.833333 0.000000 5.833333
A-3 055240CC7 1,000.000000 5.833333 0.000000 5.833333
A-4 055240CD5 1,000.000000 5.833333 0.000000 5.833333
A-5 055240CE3 1,000.000000 5.156250 11.482488 16.638738
A-6 055240CF0 0.000000 2.343750 0.000000 2.343750
A-7 055240CG8 0.000000 2.555550 0.000000 2.555550
A-8 055240CH6 0.000000 4.111116 0.000000 4.111116
PO 055240CJ2 1,000.000000 0.000000 0.840675 0.840675
M 055240CK9 1,000.000000 6.041666 0.723793 6.765460
B-1 055240CL7 1,000.000000 6.041666 0.723793 6.765459
B-2 055240CM5 1,000.000000 6.041667 0.723792 6.765459
B-3 055240CN3 1,000.000000 6.041668 0.723792 6.765460
B-4 055240CP8 1,000.000000 6.041667 0.723792 6.765459
B-5 055240CQ6 1,000.000000 6.041666 0.723800 6.765466
R-II 055240CS2 1,000.000000 6.000000 1,000.000000 1,006.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 983.875361 7.000000% 7.000000%
A-2 1,000.000000 7.000000% 7.000000%
A-3 1,000.000000 7.000000% 7.000000%
A-4 1,000.000000 7.000000% 7.000000%
A-5 988.517512 6.187500% 6.105470%
A-6 0.000000 2.812500% 2.894530%
A-7 0.000000 3.066660% NA
A-8 0.000000 4.933340% NA
PO 999.159325 0.000000% 0.000000%
M 999.276207 7.250000% 7.250000%
B-1 999.276207 7.250000% 7.250000%
B-2 999.276208 7.250000% 7.250000%
B-3 999.276208 7.250000% 7.250000%
B-4 999.276208 7.250000% 7.250000%
B-5 999.276200 7.250000% 7.250000%
R-II 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: December 31, 1997 Irvine, CA 92714
Distribution Date: January 26, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: January 26, 1998
MORTGAGE POOL INFORMATION:
Beginning Number of Loans in Pool 1,240
Ending Number of Loans in Pool 1,227
Beginning Balance of Pool 400,805,100.43
Less: Scheduled Principal 290,173.64
Principal Prepayments 4,116,609.85
Repurchases 0.00
Liquidation 0.00
Other Unscheduled Principal 0.00 (4,406,783.49)
Ending Balance of Pool 396,398,316.94
Weighted Average Remaining Term to Maturity 355
Weighted Average Mortgage Rate 7.54136%
Beginning Balance of Premium Mortgage Loans 357,730,181.64
Stripped Interest Rate 0.308116%
Current Realized Losses on the Pool 0.00
Cumulative Realized Losses on the Pool 0.00
Delinquent, Bankruptcy, Loans Loans Loans
Foreclosure and REO 30 to 59 60 to 89 90 Plus in in in
Loan Information Days Days Days Bankruptcy Foreclosure REO
Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
% of Pool Balance 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
Number of Loans 0 0 0 0 0 0
% of Loans 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.000%
Book Value of REO Properties NA
Aggregate Recoveries on Previously Foreclosed Loans
(due to a breach of representation or warranty) 0.00
Servicing Information:
Services Fees Accrued during the current due period 83,501.06
Plus: Additional servicing compensation 0.00
Less: Amts. To cover prepayment Int. Shortfall 4,925.26
Delinquent Services Fees 1,030.94 (5,956.20)
Servicing Fees Collected for the Current Due Period 77,544.86
Advanced Principal 3,575.76
Advanced Interest 31,203.14
BA MORTGAGE SECURITIES,INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3
STATEMENTS TO CERTIFICATEHOLDERS
Distribution Date: January 26, 1998
Other Cumulative
Prepayment Unscheduled Certificate Unpaid Cumulative
Principal Principal Interest Interest Realized
Class Distributed Distributed Shortfall Shortfall Losses
A-1 3,601,898.06 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00
A-5 514,556.87 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00
A-7 0.00 0.00 0.00 0.00 0.00
A-8 0.00 0.00 0.00 0.00 0.00
PO 61.23 0.00 0.00 0.00 0.00
M 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 0.00 0.00
B-3 0.00 0.00 0.00 0.00 0.00
B-4 0.00 0.00 0.00 0.00 0.00
B-5 0.00 0.00 0.00 0.00 0.00
R-II 46.85 0.00 0.00 0.00 0.00
R-I 46.85
TOTALS 4,116,609.85 0.00 0.00 0.00 0.00
OTHER REPORTING ITEMS:
SENIOR PERCENTAGE 95.74%
SENIOR PREPAYMENT PRECENTAGE 100.00%
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 12,330.11
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURED NO
BANKRUPTCY AMOUNT 100,000.00
FRAUD LOSS AMOUNT 8,016,102.01
SPECIAL HAZARD AMOUNT 4,008,051.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD 0.00
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
T 50.00 0.00 0.00 50.00
U 47,827,000.00 47,277,827.05 354,583.70 723,751.27
V 334,789,000.00 330,944,789.37 1,930,511.27 5,066,258.90
W 1,153,596.47 1,152,626.67 0.00 1,063.92
X 17,035,403.96 17,023,073.85 102,847.75 12,388.77
Y 0.00 0.00 32,418.02 0.00
Z 0.00 0.00 57,269.31 0.00
R-1 50.00 0.00 0.30 0.00
Totals 400,805,100.43 396,398,316.94 2,477,630.05 5.803,462.86
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
T 0.00 0.00 0.00 0.00
U 1,078,334.97 0.00 0.00 46,554,075.78
V 6,996,770.17 0.00 0.00 325,878,530.47
W 1,063.92 0.00 0.00 1,151,562.75
X 115,236.52 0.00 0.00 17,010,685.08
Y 32,418.02 0.00 0.00 0.00
Z 57,269.31 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
Totals 8,281,092.91 0.00 0.00 390,594,854.08
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
T 0.000000 0.000000 0.000000 00.0
U 988.517512 7.413881 15.132692 22.546573
V 988.517512 5.766352 15.132692 20.899044
W 999.159325 0.000000 0.922264 0.922264
X 999.276207 6.037294 0.727237 6.764531
Y 0.000000 0.090621 0.000000 0.090621
Z 0.000000 0.160091 0.000000 0.160091
R-I 055240CR4 0.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
T 0.000000 7.000000% 7.000000%
U 973.384820 9.000000% 9.000000%
V 973.384820 7.000000% 7.000000%
W 998.237061 0.000000% 0.000000%
X 998.548970 7.250000% 7.250000%
Y 0.000000 0.110091% NA
Z 0.000000 0.194485% NA
R-I 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: January 30 1998 Irvine, CA 92714
Distribution Date: February 25, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
REMIC II
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 238,406,000.00 234,561,789.37 1,368,277.10 5,066,258.90
A-2 34,027,000.00 34,027,000.00 198,490.83 0.00
A-3 27,305,000.00 27,305,000.00 159,279.17 0.00
A-4 35,051,000.00 35,051,000.00 204,464.17 0.00
A-5 47,827,000.00 47,277,827.05 240,544.46 723,751.27
A-6 0.00 0.00 114,039.24 0.00
A-7 0.00 0.00 34,418.02 0.00
A-8 0.00 0.00 57,269.31 0.00
PO 1,153,596.47 1,152,626.67 0.00 1,063.92
M 7,015,000.00 7,009,922.59 42,351.62 5,101.57
B-1 4,609,000.00 4,605,664.04 27,825.89 3,351.83
B-2 2,004,000.00 2,002,549.52 12,098.74 1,457.38
B-3 1,403,000.00 1,401,984.52 8,470.32 1,020.31
B-4 1,002,000.00 1,001,274.76 6,049.37 728.69
B-5 1,002,403.96 1,001,678.42 6,051.81 728.99
R-II 50.00 0.00 0.00 00.00
Totals 00,805,050.43 396,398,316.94 2,477,630.05 5,803,462.86
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 6,434,536.00 0.00 0.00 229,495,530.47
A-2 198,490.83 0.00 0.00 34,027,000.00
A-3 159,279.17 0.00 0.00 27,305,000.00
A-4 204,464.17 0.00 0.00 35,051,000.00
A-5 964,295.73 0.00 0.00 46,554,075.78
A-6 114,039.24 0.00 0.00 0.00
A-7 32,418.02 0.00 0.00 0.00
A-8 57,269.31 0.00 0.00 0.00
PO 1,063.92 0.00 0.00 1,151,562.75
M 47,453.19 0.00 0.00 7,004,821.02
B-1 31,177.72 0.00 0.00 4,602,312.21
B-2 13,556.12 0.00 0.00 2,001,092.14
B-3 9,490.63 0.00 0.00 1,400,964.21
B-4 6,778.06 0.00 0.00 1,000,546.07
B-5 6,780.80 0.00 0.00 1,000,949.43
R-II 0.00 0.00 0.00 0.00
Totals 8,281,092.91 0.00 0.00 390,594,854.08
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 055240CA1 983.875361 5.739273 21.250551 26.989824
A-2 055240CB9 1,000.000000 5.833333 0.000000 5.833333
A-3 055240CC7 1,000.000000 5.833333 0.000000 5.833333
A-4 055240CD5 1,000.000000 5.833333 0.000000 5.833333
A-5 055240CE3 988.517512 5.029470 15.132692 20.162162
A-6 055240CF0 0.000000 2.384411 0.000000 2.384411
A-7 055240CG8 0.000000 2.352915 0.000000 2.352915
A-8 055240CH6 0.000000 4.156634 0.000000 4.156634
PO 055240CJ2 999.159325 0.000000 0.922264 0.922264
M 055240CK9 999.276207 6.037294 0.727237 6.764532
B-1 055240CL7 999.276207 6.037294 0.727236 6.764530
B-2 055240CM5 999.276208 6.037295 0.727236 6.764531
B-3 055240CN3 999.276208 6.037292 0.727234 6.764526
B-4 055240CP8 999.276208 6.037895 0.727236 6.764531
B-5 055240CQ6 999.276200 6.037297 0.727242 6.764538
R-II 055240CS2 000.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 962.624810 7.000000% 7.000000%
A-2 1,000.000000 7.000000% 7.000000%
A-3 1,000.000000 7.000000% 7.000000%
A-4 1,000.000000 7.000000% 7.000000%
A-5 973.384820 6.105470% 6.125000%
A-6 0.000000 2.894530% 2.875000%
A-7 0.000000 2.891647% NA
A-8 0.000000 5.108353% NA
PO 998.237061 0.000000% 0.000000%
M 998.548969 7.250000% 7.250000%
B-1 998.548972 7.250000% 7.250000%
B-2 998.548972 7.250000% 7.250000%
B-3 998.548974 7.250000% 7.250000%
B-4 998.548972 7.250000% 7.250000%
B-5 998.548958 7.250000% 7.250000%
R-II 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: January 30, 1998 Irvine, CA 92714
Distribution Date: February 25, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: February 25, 1998
MORTGAGE POOL INFORMATION:
Beginning Number of Loans in Pool 1,227
Ending Number of Loans in Pool 1,211
Beginning Balance of Pool 396,398,316.94
Less: Scheduled Principal 288,559.67
Principal Prepayments 5,514,903.19
Repurchases 0.00
Liquidation 0.00
Other Unscheduled Principal 0.00 (5,803,462.86)
Ending Balance of Pool 390,594,854.08
Weighted Average Remaining Term to Maturity 354
Weighted Average Mortgage Rate 7.750426%
Beginning Balance of Premium Mortgage Loans 353,359,055.99
Stripped Interest Rate 0.304576%
Current Realized Losses on the Pool 0.00
Cumulative Realized Losses on the Pool 0.00
Delinquent, Bankruptcy, Loans Loans Loans
Foreclosure and REO 30 to 59 60 to 89 90 Plus in in in
Loan Information Days Days Days Bankruptcy Foreclosure REO
Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
% of Pool Balance 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
Number of Loans 0 0 0 0 0 0
% of Loans 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.000%
Book Value of REO Properties NA
Aggregate Recoveries on Previously Foreclosed Loans
(due to a breach of representation or warranty) 0.00
Servicing Information:
Services Fees Accrued during the current due period 82,582.98
Plus: Additional servicing compensation 0.00
Less: Amts. To cover prepayment Int. Shortfall 8,272.86
Delinquent Services Fees 2,248.55 (10,521.41)
Servicing Fees Collected for the Current Due Period 72,061.57
Advanced Principal 7,822.10
Advanced Interest 67,791.82
BA MORTGAGE SECURITIES,INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3
STATEMENTS TO CERTIFICATEHOLDERS
Distribution Date: February 25, 1998
Other Cumulative
Prepayment Unscheduled Certificate Unpaid Cumulative
Principal Principal Interest Interest Realized
Class Distributed Distributed Shortfall Shortfall Losses
A-1 4,825,409.49 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00
A-5 689,344.21 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00
A-7 0.00 0.00 0.00 0.00 0.00
A-8 0.00 0.00 0.00 0.00 0.00
PO 149.49 0.00 0.00 0.00 0.00
M 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 0.00 0.00
B-3 0.00 0.00 0.00 0.00 0.00
B-4 0.00 0.00 0.00 0.00 0.00
B-5 0.00 0.00 0.00 0.00 0.00
R-II 00.00 0.00 0.00 0.00 0.00
R-I 00.00
TOTALS 5,514,903.19 0.00 0.00 0.00 0.00
OTHER REPORTING ITEMS:
SENIOR PERCENTAGE 95.69%
SENIOR PREPAYMENT PRECENTAGE 100.00%
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 12,388.77
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURED NO
BANKRUPTCY AMOUNT 100,000.00
FRAUD LOSS AMOUNT 7,927,966.34
SPECIAL HAZARD AMOUNT 4,008,051.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD 0.00
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
T 50.00 0.00 0.00 00.00
U 47,827,000.00 46,554,075.78 349,155.57 1,234,610.98
V 334,789,000.00 325,878,530.47 1,900,958.10 8,642,276.83
W 1,153,596.47 1,152,626.67 0.00 1,072.78
X 17,035,403.96 17,010,685.08 102,772.89 12,379.58
Y 0.00 0.00 32,091.52 0.00
Z 0.00 0.00 55,431.47 0.00
R-1 50.00 0.00 0.00 0.00
Totals 400,805,100.43 390,594,854.08 2,440,409.55 9,890,340.17
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
T 0.00 0.00 0.00 0.00
U 1,583,766.55 0.00 0.00 45,319,464.80
V 10,543,234.93 0.00 0.00 317,236,253.64
W 1,072.78 0.00 0.00 1,150,489.97
X 115,152.47 0.00 0.00 16,998,305.50
Y 32,091.52 0.00 0.00 0.00
Z 55,431.47 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00
Totals 12,330,749.72 0.00 0.00 380,704,513.91
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
T 0.000000 0.000000 0.000000 0.00000
U 973.384820 7.300386 25.814100 33.114487
V 973.384820 5.678078 25.814100 31.492178
W 998.237061 0.000000 0.929944 0.929944
X 998.548970 6.032900 0.726697 6.759597
Y 0.000000 0.089709 0.000000 0.089709
Z 0.000000 0.154953 0.000000 0.154953
R-I 055240CR4 0.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
T 0.000000 7.000000% 7.000000%
U 947.570719 9.000000% 9.000000%
V 947.570720 7.000000% 7.000000%
W 997.307117 0.000000% 0.000000%
X 997.822273 7.250000% 7.250000%
Y 0.000000 0.110789% NA
Z 0.000000 0.194485% NA
R-I 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: February 27, 1998 Irvine, CA 92714
Distribution Date: March 25, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
ORIGINAL PRIOR PRINC.
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 238,406,000.00 229,495,530.47 1,338,723.93 8,642,276.83
A-2 34,027,000.00 34,027,000.00 198,490.83 0.00
A-3 27,305,000.00 27,305,000.00 159,279.17 0.00
A-4 35,051,000.00 35,051,000.00 204,464.17 0.00
A-5 47,827,000.00 46,554,075.78 237,619.76 1,234,610.98
A-6 0.00 0.00 111,535.81 0.00
A-7 0.00 0.00 32,091.52 0.00
A-8 0.00 0.00 55,431.47 0.00
PO 1,153,596.47 1,151,526.75 0.00 1,072.78
M 7,015,000.00 7,004,821.02 42,320.79 5,097.78
B-1 4,609,000.00 4,602,312.21 27,805.64 3,349.35
B-2 2,004,000.00 2,001,092.14 12,089.93 1,456.30
B-3 1,403,000.00 1,400,964.21 8,464.16 1,019.56
B-4 1,002,000.00 1,000,546.07 6,044.97 728.15
B-5 1,002,403.96 1,000,949.43 6,047.40 728.44
R-II 50.00 0.00 0.00 00.00
Totals 400,805,050.43 390,594,854.08 2,440,409.55 9,890,340.17
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 9,981,000.76 0.00 0.00 220,853,253.64
A-2 198,490.83 0.00 0.00 34,027,000.00
A-3 159,279.17 0.00 0.00 27,305,000.00
A-4 204,464.17 0.00 0.00 35,051,000.00
A-5 1,472,230.74 0.00 0.00 45,319,464.80
A-6 111,535.81 0.00 0.00 0.00
A-7 32,091.52 0.00 0.00 0.00
A-8 55,431.47 0.00 0.00 0.00
PO 1,072.78 0.00 0.00 1,150,489.97
M 47,418.57 0.00 0.00 6,999,723.24
B-1 31,154.99 0.00 0.00 4,598,962.86
B-2 13,546.23 0.00 0.00 1,999,635.84
B-3 9,483.72 0.00 0.00 1,399,944.65
B-4 6,773.12 0.00 0.00 999,817.92
B-5 6,775.84 0.00 0.00 1,000,220.99
R-II 0.00 0.00 0.00 0.00
Totals 12,330,749.72 0.00 0.00 380,704,513.91
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 055240CA1 962.624810 5.615311 36.250249 41.865560
A-2 055240CB9 1,000.000000 5.833333 0.000000 5.833333
A-3 055240CC7 1,000.000000 5.833333 0.000000 5.833333
A-4 055240CD5 1,000.000000 5.833333 0.000000 5.833333
A-5 055240CE3 973.384820 4.968318 25.814100 30.782419
A-6 055240CF0 0.000000 2.332068 0.000000 2.332068
A-7 055240CG8 0.000000 2.329218 0.000000 2.329218
A-8 055240CH6 0.000000 4.023242 0.000000 4.023242
PO 055240CJ2 998.237061 0.000000 0.929944 0.929944
M 055240CK9 998.548969 6.032900 0.726697 6.759597
B-1 055240CL7 998.548972 6.032901 0.726698 6.759599
B-2 055240CM5 998.548972 6.032899 0.726697 6.759596
B-3 055240CN3 998.548974 6.032901 0.726700 6.759601
B-4 055240CP8 998.548972 6.032904 0.726697 6.759601
B-5 055240CQ6 998.548958 6.032897 0.726693 6.759590
R-II 055240CS2 000.000000 0.000000 0.000000 0.000000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 962.374561 7.000000% 7.000000%
A-2 1,000.000000 7.000000% 7.000000%
A-3 1,000.000000 7.000000% 7.000000%
A-4 1,000.000000 7.000000% 7.000000%
A-5 947.570719 6.125000% 6.187500%
A-6 0.000000 2.875000% 2.812500%
A-7 0.000000 2.933311% NA
A-8 0.000000 5.066689% NA
PO 997.307117 0.000000% 0.000000%
M 997.822272 7.250000% 7.250000%
B-1 997.822274 7.250000% 7.250000%
B-2 997.822275 7.250000% 7.250000%
B-3 997.822274 7.250000% 7.250000%
B-4 997.822275 7.250000% 7.250000%
B-5 997.822265 7.250000% 7.250000%
R-II 0.000000 7.250000% 7.250000%
Seller: Bank of America Administrator: Kelly L. Shea
Servicer: Bank of America Bankers Trust Company
Lead Underwriter: Morgan Stanley Co. Incorporated 3 Park Plaza
Record Date: February 27, 1998 Irvine, CA 92714
Distribution Date: March 25, 1998 Factor Information (800)735-7777
BA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1997-3
STATEMENT TO CERTIFICATE HOLDERS
Distribution Date: March 25, 1998
MORTGAGE POOL INFORMATION:
Beginning Number of Loans in Pool 1,211
Ending Number of Loans in Pool 1,182
Beginning Balance of Pool 390,594,854.08
Less: Scheduled Principal 284,339.35
Principal Prepayments 9,606,000.82
Repurchases 0.00
Liquidation 0.00
Other Unscheduled Principal 0.00 (9,890,340.17)
Ending Balance of Pool 380,704,513.91
Weighted Average Remaining Term to Maturity 353
Weighted Average Mortgage Rate 7.747517%
Beginning Balance of Premium Mortgage Loans 347,594,984.97
Stripped Interest Rate 0.302155%
Current Realized Losses on the Pool 0.00
Cumulative Realized Losses on the Pool 0.00
Delinquent, Bankruptcy, Loans Loans Loans
Foreclosure and REO 30 to 59 60 to 89 90 Plus in in in
Loan Information Days Days Days Bankruptcy Foreclosure REO
Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
% of Pool Balance 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.0000%
Number of Loans 0 0 0 0 0 0
% of Loans 0.0000% 0.0000% 0.0000% 0.0000% 0.0000% 0.000%
Book Value of REO Properties NA
Aggregate Recoveries on Previously Foreclosed Loans
(due to a breach of representation or warranty) 0.00
Servicing Information:
Services Fees Accrued during the current due period 81,373.93
Plus: Additional servicing compensation 0.00
Less: Amts. To cover prepayment Int. Shortfall 37,107.95
Delinquent Services Fees 2,179.29 (39,287.24)
Servicing Fees Collected for the Current Due Period 42,086.69
Advanced Principal 9,062.82
Advanced Interest 66,185.86
BA MORTGAGE SECURITIES,INC.
MORTGAGE PASS-THROUGH CERTIFICATES SERIES 1997-3
STATEMENTS TO CERTIFICATEHOLDERS
Distribution Date: March 25, 1998
Other Cumulative
Prepayment Unscheduled Certificate Unpaid Cumulative
Principal Principal Interest Interest Realized
Class Distributed Distributed Shortfall Shortfall Losses
A-1 8,405,117.78 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00
A-5 1,200,731.12 0.00 0.00 0.00 0.00
A-6 0.00 0.00 0.00 0.00 0.00
A-7 0.00 0.00 0.00 0.00 0.00
A-8 0.00 0.00 0.00 0.00 0.00
PO 151.92 0.00 0.00 0.00 0.00
M 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 0.00 0.00
B-3 0.00 0.00 0.00 0.00 0.00
B-4 0.00 0.00 0.00 0.00 0.00
B-5 0.00 0.00 0.00 0.00 0.00
R-II 00.00 0.00 0.00 0.00 0.00
R-I 00.00
TOTALS 9,606,000.82 0.00 0.00 0.00 0.00
OTHER REPORTING ITEMS:
SENIOR PERCENTAGE 95.63%
SENIOR PREPAYMENT PRECENTAGE 100.00%
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 12,379.58
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURED NO
BANKRUPTCY AMOUNT 100,000.00
FRAUD LOSS AMOUNT 7,811,897.08
SPECIAL HAZARD AMOUNT 4,008,051.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD 0.00
