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): February 25, 1999
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 February 25, 1999, 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 February 25, 1999 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: February 25, 1999
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 February 25, 1999
Payment Date: 02/25/99
------------------------------------------------------------
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-7 103,386,227.03 5.439690% 5,819,013.77 468,657.52 6,287,671.29 0.00 0.00
IA-8 19,911,421.50 13.293898% 1,120,698.95 220,583.68 1,341,282.62 0.00 0.00
IA-9 6,892,415.13 7.500000% 387,934.25 43,077.59 431,011.85 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,102,684.55 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 35,982,095.19 6.500000% 832,725.70 194,903.02 1,027,628.72 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 25,495,519.93 6.500000% 86,528.24 138,100.73 224,628.97 0.00 0.00
I-X-1 5,288,799.72 0.256413% 0.00 1,130.10 1,130.10 0.00 0.00
I-X-2 114,336,000.00 0.256413% 0.00 24,431.06 24,431.06 0.00 0.00
I-X-3 70,972,000.00 0.256413% 0.00 15,165.14 15,165.14 0.00 0.00
I-X-4 119,288,403.56 0.256413% 0.00 25,489.28 25,489.28 0.00 0.00
II-X 1,081,191.75 6.500000% 0.00 5,856.46 5,856.46 0.00 0.00
I-PO 102,221.84 0.000000% 113.88 0.00 113.88 0.00 0.00
II-PO 268,101.28 0.000000% 955.36 0.00 955.36 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.23 0.23 0.00 0.00
R-II 0.00 6.500000% 0.00 0.06 0.06 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,869,364.78 6.750000% 5,631.43 38,640.18 44,271.60 0.00 0.00
IB-1 3,156,006.34 6.750000% 2,587.26 17,752.54 20,339.79 0.00 0.00
IB-2 1,671,061.07 6.750000% 1,369.92 9,399.72 10,769.64 0.00 0.00
IB-3 1,299,824.74 6.750000% 1,065.58 7,311.51 8,377.10 0.00 0.00
IB-4 928,588.43 6.750000% 761.25 5,223.31 5,984.56 0.00 0.00
IB-5 928,585.45 6.750000% 761.24 5,223.29 5,984.54 0.00 0.00
IIM 1,210,056.60 6.500000% 4,106.76 6,554.47 10,661.24 0.00 0.00
IIB-1 445,191.00 6.500000% 1,510.92 2,411.45 3,922.37 0.00 0.00
IIB-2 318,694.00 6.500000% 1,081.60 1,726.26 2,807.86 0.00 0.00
IIB-3 381,452.21 6.500000% 1,294.60 2,066.20 3,360.80 0.00 0.00
IIB-4 191,216.40 6.500000% 648.96 1,035.76 1,684.72 0.00 0.00
IIB-5 318,585.24 6.500000% 1,081.23 1,725.67 2,806.90 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 446,787,312.69 - 8,269,870.91 2,541,304.39 10,811,175.30 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 97,567,213.26 0.00
IA-8 18,790,722.55 0.00
IA-9 6,504,480.88 0.00
IA-10 0.00 0.00
IA-11 3,120,137.15 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 35,149,369.48 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 25,408,991.69 0.00
I-X-1 4,555,090.71 0.00
I-X-2 114,336,000.00 0.00
I-X-3 70,972,000.00 0.00
I-X-4 112,720,661.36 0.00
II-X 1,071,871.98 0.00
I-PO 102,107.95 0.00
II-PO 267,145.91 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,863,733.36 0.00
IB-1 3,153,419.08 0.00
IB-2 1,669,691.15 0.00
IB-3 1,298,759.16 0.00
IB-4 927,827.18 0.00
IB-5 927,824.20 0.00
IIM 1,205,949.83 0.00
IIB-1 443,680.08 0.00
IIB-2 317,612.39 0.00
IIB-3 380,157.61 0.00
IIB-4 190,567.44 0.00
IIB-5 317,504.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 438,534,894.38 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/99
------------------------------------------------------------
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-7 103,386,227.03 5.439690% 055240HE8 44.299903 3.567870 742.775024
IA-8 19,911,421.50 13.293898% 055240HF5 44.299903 8.719412 742.775024
IA-9 6,892,415.13 7.500000% 055240HG3 44.299903 4.919218 742.775024
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,102,684.55 6.750000% 055240HJ7 0.000000 0.000000 1,040.045717
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 35,982,095.19 6.500000% 055240HN8 17.985436 4.209568 759.165648
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 25,495,519.93 6.500000% 055240HR9 3.328009 5.311567 977.268911
I-X-1 5,288,799.72 0.256413% 055240HS7 0.000000 0.134073 540.407013
I-X-2 114,336,000.00 0.256413% 055240HT5 0.000000 0.213678 1,000.000000
I-X-3 70,972,000.00 0.256413% 055240HU2 0.000000 0.213678 1,000.000000
I-X-4 119,288,403.56 0.256413% 055240HV0 0.000000 0.159547 705.559050
II-X 1,081,191.75 6.500000% 055240HW8 0.000000 4.367764 799.405730
I-PO 102,221.84 0.000000% 055240HX6 1.106566 0.000000 992.147796
II-PO 268,101.28 0.000000% 055240HY4 3.277844 0.000000 916.577084
Residual R-I 0.00 6.750000% 055240JF3 0.000000 4.559247 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 1.150711 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,869,364.78 6.750000% 055240HZ1 0.815912 5.598403 994.455717
IB-1 3,156,006.34 6.750000% 055240JA4 0.815912 5.598403 994.455717
IB-2 1,671,061.07 6.750000% 055240JB2 0.815912 5.598403 994.455720
IB-3 1,299,824.74 6.750000% 055240JJ5 0.815912 5.598403 994.455714
IB-4 928,588.43 6.750000% 055240JK2 0.815912 5.598403 994.455714
IB-5 928,585.45 6.750000% 055240JL0 0.815912 5.598398 994.454825
IIM 1,210,056.60 6.500000% 055240JC0 3.328009 5.311567 977.268907
IIB-1 445,191.00 6.500000% 055240JD8 3.328009 5.311567 977.268904
IIB-2 318,694.00 6.500000% 055240JE6 3.328009 5.311567 977.268899
IIB-3 381,452.21 6.500000% 055240JM8 3.328009 5.311567 977.268920
IIB-4 191,216.40 6.500000% 055240JN6 3.328009 5.311567 977.268910
IIB-5 318,585.24 6.500000% 055240JP1 3.328008 5.311565 977.268693
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 446,787,312.69 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 322,025,916.71 116,508,978.49 438,534,895.20
loan count 997 330 1327
average loan rate 7.447052% 7.036919% 7.34
prepayment amount 7,052,481.82 531,324.64 7,583,806.46
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 108,809.29 47,550.51 156,359.80
sub servicer fees 0.00 0.00 0.00
trustee fees 1,235.06 440.40 1,675.45
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 4,170,204.41 1,837,167.92 6,007,372.33
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 96.038922% 100.000000% 429,068,686.44
-----------------------------------------------------------------------------
Junior 3.961078% 0.000000% 17,696,725.50
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 0 0.00
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 0 0.00
- --------------------------------------------------------------------------------
<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 10,811,175.30 10,811,175.30
Principal remittance amount 8,269,870.91 8,269,870.91
Interest remittance amount 2,541,304.39 2,541,304.39
