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 25, 1998
BAMSI
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-4)
(Exact name of registrant as specified in charter)
Delaware 33-63714 95-4449516
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
155 N. Lake Avenue, Pasadena, CA 91110-7137
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (818)-304-4428
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
Item 5. Other Events
BAMSI
Mortgage Pass-Through Certificates
Series 1998-4
On December 25, 1998, The Bank of New York, as Trustee for BAMSI, Mortgage
Pass-Through Certificates Series 1998-4, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of July 1, 1998, among BAMSI 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 BAMSI, Mortgage Pass-Through
Certificates Series 1998-4 relating to the distribution date
of December 25, 1998 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of July 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: December 25, 1998
BAMSI
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 December 25, 1998
Payment Date: 12/25/98
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
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 IA-1 16,000,000.00 6.650000% 0.00 88,666.67 88,666.67 0.00 0.00
IA-2 25,000,000.00 6.250000% 0.00 130,208.33 130,208.33 0.00 0.00
IA-3 6,800,000.00 6.650000% 0.00 37,683.33 37,683.33 0.00 0.00
IA-4 23,800,000.00 6.600000% 0.00 130,900.00 130,900.00 0.00 0.00
IA-5 50,000,000.00 6.500000% 0.00 270,833.33 270,833.33 0.00 0.00
IA-6 4,570,370.37 6.750000% 0.00 25,708.33 25,708.33 0.00 0.00
IA-7 118,550,253.44 5.539840% 8,970,979.66 547,291.20 9,518,270.85 0.00 0.00
IA-8 22,831,900.66 12.773888% 1,727,744.23 243,043.46 1,970,787.69 0.00 0.00
IA-9 7,903,350.23 7.500000% 598,065.31 49,395.94 647,461.25 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,068,071.67 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-12 59,500,000.00 6.750000% 0.00 334,687.50 334,687.50 0.00 0.00
IIA-1 27,000,000.00 6.500000% 0.00 146,250.00 146,250.00 0.00 0.00
IIA-2 25,828,000.00 6.500000% 0.00 139,901.67 139,901.67 0.00 0.00
IIA-3 42,352,875.07 6.500000% 2,396,341.51 229,411.41 2,625,752.92 0.00 0.00
IIA-4 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
IIA-5 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
IIA-6 25,666,652.92 6.500000% 85,237.79 139,027.70 224,265.49 0.00 0.00
I-X-1 6,576,628.34 0.258853% 0.00 1,418.65 1,418.65 0.00 0.00
I-X-2 114,336,000.00 0.258853% 0.00 24,663.48 24,663.48 0.00 0.00
I-X-3 70,972,000.00 0.258853% 0.00 15,309.41 15,309.41 0.00 0.00
I-X-4 137,038,495.22 0.258853% 0.00 29,560.65 29,560.65 0.00 0.00
II-X 1,214,010.47 6.500000% 0.00 6,575.89 6,575.89 0.00 0.00
I-PO 102,501.94 0.000000% 166.41 0.00 166.41 0.00 0.00
II-PO 287,311.01 0.000000% 2,436.17 0.00 2,436.17 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.30 0.30 0.00 0.00
R-II 0.00 6.500000% 0.00 0.03 0.03 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,880,456.79 6.750000% 5,517.45 38,702.57 44,220.02 0.00 0.00
IB-1 3,161,102.36 6.750000% 2,534.89 17,781.20 20,316.09 0.00 0.00
IB-2 1,673,759.34 6.750000% 1,342.19 9,414.90 10,757.09 0.00 0.00
IB-3 1,301,923.58 6.750000% 1,044.01 7,323.32 8,367.33 0.00 0.00
IB-4 930,087.82 6.750000% 745.84 5,231.74 5,977.58 0.00 0.00
IB-5 930,084.84 6.750000% 745.84 5,231.73 5,977.56 0.00 0.00
IIM 1,218,178.83 6.500000% 4,045.52 6,598.47 10,643.99 0.00 0.00
IIB-1 448,179.24 6.500000% 1,488.38 2,427.64 3,916.02 0.00 0.00
IIB-2 320,833.16 6.500000% 1,065.47 1,737.85 2,803.32 0.00 0.00
IIB-3 384,012.62 6.500000% 1,275.29 2,080.07 3,355.36 0.00 0.00
IIB-4 192,499.90 6.500000% 639.28 1,042.71 1,681.99 0.00 0.00
IIB-5 320,723.59 6.500000% 1,065.11 1,737.25 2,802.36 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 472,452,759.01 - 13,802,480.35 2,689,846.70 16,492,327.06 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 16,000,000.00 0.00
IA-2 25,000,000.00 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 50,000,000.00 0.00
IA-6 4,570,370.37 0.00
IA-7 109,579,273.79 0.00
IA-8 21,104,156.43 0.00
IA-9 7,305,284.92 0.00
IA-10 0.00 0.00
IA-11 3,085,329.57 0.00
IA-12 59,500,000.00 0.00
IIA-1 27,000,000.00 0.00
IIA-2 25,828,000.00 0.00
IIA-3 39,956,533.56 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 25,581,415.13 0.00
I-X-1 5,962,717.25 0.00
I-X-2 114,336,000.00 0.00
I-X-3 70,972,000.00 0.00
I-X-4 126,385,820.94 0.00
II-X 1,162,020.65 0.00
I-PO 102,335.53 0.00
II-PO 284,874.83 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,874,939.34 0.00
IB-1 3,158,567.47 0.00
IB-2 1,672,417.15 0.00
IB-3 1,300,879.56 0.00
IB-4 929,341.99 0.00
IB-5 929,339.00 0.00
IIM 1,214,133.31 0.00
IIB-1 446,690.86 0.00
IIB-2 319,767.69 0.00
IIB-3 382,737.33 0.00
IIB-4 191,860.61 0.00
IIB-5 319,658.48 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 458,667,536.56 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 12/25/98
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
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 IA-1 16,000,000.00 6.650000% 055240GY5 0.000000 5.541667 1,000.000000
IA-2 25,000,000.00 6.250000% 055240GZ2 0.000000 5.208333 1,000.000000
IA-3 6,800,000.00 6.650000% 055240HA6 0.000000 5.541667 1,000.000000
IA-4 23,800,000.00 6.600000% 055240HB4 0.000000 5.500000 1,000.000000
IA-5 50,000,000.00 6.500000% 055240HC2 0.000000 5.416667 1,000.000000
IA-6 4,570,370.37 6.750000% 055240HD0 0.000000 5.625000 1,000.000000
IA-7 118,550,253.44 5.539840% 055240HE8 68.295685 4.166504 834.222327
IA-8 22,831,900.66 12.773888% 055240HF5 68.295685 9.607220 834.222327
IA-9 7,903,350.23 7.500000% 055240HG3 68.295685 5.640738 834.222327
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,068,071.67 6.750000% 055240HJ7 0.000000 0.000000 1,028.443190
IA-12 59,500,000.00 6.750000% 055240HK4 0.000000 5.625000 1,000.000000
IIA-1 27,000,000.00 6.500000% 055240HL2 0.000000 5.416667 1,000.000000
IIA-2 25,828,000.00 6.500000% 055240HM0 0.000000 5.416667 1,000.000000
IIA-3 42,352,875.07 6.500000% 055240HN8 51.756836 4.954890 862.992085
IIA-4 0.00 6.500000% 055240HP3 0.000000 0.000000 0.000000
IIA-5 0.00 6.500000% 055240HQ1 0.000000 0.000000 0.000000
IIA-6 25,666,652.92 6.500000% 055240HR9 3.278377 5.347219 983.900582
I-X-1 6,576,628.34 0.258853% 055240HS7 0.000000 0.168306 707.405060
I-X-2 114,336,000.00 0.258853% 055240HT5 0.000000 0.215711 1,000.000000
I-X-3 70,972,000.00 0.258853% 055240HU2 0.000000 0.215711 1,000.000000
I-X-4 137,038,495.22 0.258853% 055240HV0 0.000000 0.185031 791.094185
II-X 1,214,010.47 6.500000% 055240HW8 0.000000 4.904321 866.638908
I-PO 102,501.94 0.000000% 055240HX6 1.616919 0.000000 994.359101
II-PO 287,311.01 0.000000% 055240HY4 8.358505 0.000000 977.404973
Residual R-I 0.00 6.750000% 055240JF3 0.000000 5.982783 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.527371 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,880,456.79 6.750000% 055240HZ1 0.799398 5.607443 996.079302
IB-1 3,161,102.36 6.750000% 055240JA4 0.799398 5.607443 996.079302
IB-2 1,673,759.34 6.750000% 055240JB2 0.799398 5.607443 996.079305
IB-3 1,301,923.58 6.750000% 055240JJ5 0.799398 5.607443 996.079299
IB-4 930,087.82 6.750000% 055240JK2 0.799398 5.607443 996.079299
IB-5 930,084.84 6.750000% 055240JL0 0.799398 5.607438 996.078408
IIM 1,218,178.83 6.500000% 055240JC0 3.278377 5.347219 983.900578
IIB-1 448,179.24 6.500000% 055240JD8 3.278377 5.347219 983.900574
IIB-2 320,833.16 6.500000% 055240JE6 3.278377 5.347219 983.900570
IIB-3 384,012.62 6.500000% 055240JM8 3.278377 5.347219 983.900590
IIB-4 192,499.90 6.500000% 055240JN6 3.278377 5.347219 983.900580
IIB-5 320,723.59 6.500000% 055240JP1 3.278375 5.347217 983.900108
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 472,452,759.01 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Agg stated prin bal 337,141,865.53 121,525,671.93 458,667,537.46
Aggregated loan count 1051 344 1395
Aggregated ave loan rate 7.452701% 7.045299% 7.35
Aggregated prepay amt11,012,211.59 2,081,702.26 13,093,913.85
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
servicing fees 102,942.40 46,937.84 149,880.24
sub servicer fees 0.00 0.00 0.00
trustee fees 1,306.63 465.07 1,771.70
Aggregate advances N/A N/A N/A
Advances this periods 0.00 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period)0.00 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 3,730,870.14 1,298,233.99 5,029,104.13
Special Hazard 4,177,436.48 1,850,017.84 6,027,454.32
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 96.244886% 100.000000% 454,690,916.94
-----------------------------------------------------------------------------
Junior 3.755114% 0.000000% 17,740,332.80
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 313,949.49
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 313,949.49
- --------------------------------------------------------------------------------
<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 16,492,327.06 16,492,327.06
Principal remittance amount 13,802,480.35 13,802,480.35
Interest remittance amount 2,689,846.70 2,689,846.70
