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): March 25, 1999
BAMS
(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
BAMS
Mortgage Pass-Through Certificates
Series 1998-4
On March 25, 1999, The Bank of New York, as Trustee for BAMS, 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 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 1998-4 relating to the distribution date
of March 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: March 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 March 25, 1999
Payment Date: 03/25/99
------------------------------------------------------------
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 97,567,213.26 5.439380% 7,651,798.97 442,254.29 8,094,053.26 0.00 0.00
IA-8 18,790,722.55 13.295508% 1,473,679.80 208,193.50 1,681,873.30 0.00 0.00
IA-9 6,504,480.88 7.500000% 510,119.93 40,653.01 550,772.94 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,120,137.15 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 35,149,369.48 6.500000% 3,578,879.77 190,392.42 3,769,272.19 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 25,408,991.69 6.500000% 87,570.02 137,632.04 225,202.06 0.00 0.00
I-X-1 4,555,090.71 0.253136% 0.00 960.88 960.88 0.00 0.00
I-X-2 114,336,000.00 0.253136% 0.00 24,118.77 24,118.77 0.00 0.00
I-X-3 70,972,000.00 0.253136% 0.00 14,971.29 14,971.29 0.00 0.00
I-X-4 112,720,661.36 0.253136% 0.00 23,778.02 23,778.02 0.00 0.00
II-X 1,071,871.98 6.500000% 0.00 5,805.97 5,805.97 0.00 0.00
I-PO 102,107.95 0.000000% 98.75 0.00 98.75 0.00 0.00
II-PO 267,145.91 0.000000% 12,256.00 0.00 12,256.00 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.37 0.37 0.00 0.00
R-II 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,863,733.36 6.750000% 5,677.35 38,608.50 44,285.85 0.00 0.00
IB-1 3,153,419.08 6.750000% 2,608.36 17,737.98 20,346.34 0.00 0.00
IB-2 1,669,691.15 6.750000% 1,381.09 9,392.01 10,773.10 0.00 0.00
IB-3 1,298,759.16 6.750000% 1,074.27 7,305.52 8,379.79 0.00 0.00
IB-4 927,827.18 6.750000% 767.45 5,219.03 5,986.48 0.00 0.00
IB-5 927,824.20 6.750000% 767.45 5,219.01 5,986.46 0.00 0.00
IIM 1,205,949.83 6.500000% 4,156.21 6,532.23 10,688.44 0.00 0.00
IIB-1 443,680.08 6.500000% 1,529.11 2,403.27 3,932.37 0.00 0.00
IIB-2 317,612.39 6.500000% 1,094.63 1,720.40 2,815.03 0.00 0.00
IIB-3 380,157.61 6.500000% 1,310.18 2,059.19 3,369.37 0.00 0.00
IIB-4 190,567.44 6.500000% 656.78 1,032.24 1,689.02 0.00 0.00
IIB-5 317,504.00 6.500000% 1,094.21 1,719.81 2,814.03 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 438,534,894.38 - 13,336,520.34 2,492,548.90 15,829,069.25 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 89,915,414.28 0.00
IA-8 17,317,042.75 0.00
IA-9 5,994,360.95 0.00
IA-10 0.00 0.00
IA-11 3,137,687.92 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 31,570,489.71 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 25,321,421.67 0.00
I-X-1 3,761,836.18 0.00
I-X-2 114,336,000.00 0.00
I-X-3 70,972,000.00 0.00
I-X-4 104,231,431.54 0.00
II-X 1,015,502.12 0.00
I-PO 102,009.20 0.00
II-PO 254,889.92 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,858,056.00 0.00
IB-1 3,150,810.72 0.00
IB-2 1,668,310.06 0.00
IB-3 1,297,684.89 0.00
IB-4 927,059.73 0.00
IB-5 927,056.75 0.00
IIM 1,201,793.62 0.00
IIB-1 442,150.97 0.00
IIB-2 316,517.77 0.00
IIB-3 378,847.43 0.00
IIB-4 189,910.66 0.00
IIB-5 316,409.79 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 425,215,924.80 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/99
------------------------------------------------------------
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 97,567,213.26 5.439380% 055240HE8 58.252819 3.366863 684.522205
IA-8 18,790,722.55 13.295508% 055240HF5 58.252818 8.229643 684.522205
IA-9 6,504,480.88 7.500000% 055240HG3 58.252818 4.642344 684.522205
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,120,137.15 6.750000% 055240HJ7 0.000000 0.000000 1,045.895974
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 35,149,369.48 6.500000% 055240HN8 77.297619 4.112147 681.868028
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 25,408,991.69 6.500000% 055240HR9 3.368078 5.293540 973.900833
I-X-1 4,555,090.71 0.253136% 055240HS7 0.000000 0.113997 446.296854
I-X-2 114,336,000.00 0.253136% 055240HT5 0.000000 0.210946 1,000.000000
I-X-3 70,972,000.00 0.253136% 055240HU2 0.000000 0.210946 1,000.000000
I-X-4 112,720,661.36 0.253136% 055240HV0 0.000000 0.148835 652.421916
II-X 1,071,871.98 6.500000% 055240HW8 0.000000 4.330114 757.364897
I-PO 102,107.95 0.000000% 055240HX6 0.959549 0.000000 991.188247
II-PO 267,145.91 0.000000% 055240HY4 42.050298 0.000000 874.526786
Residual R-I 0.00 6.750000% 055240JF3 0.000000 7.496131 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.000000 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,863,733.36 6.750000% 055240HZ1 0.822567 5.593813 993.633150
IB-1 3,153,419.08 6.750000% 055240JA4 0.822567 5.593813 993.633151
IB-2 1,669,691.15 6.750000% 055240JB2 0.822567 5.593813 993.633153
IB-3 1,298,759.16 6.750000% 055240JJ5 0.822567 5.593813 993.633148
IB-4 927,827.18 6.750000% 055240JK2 0.822567 5.593813 993.633148
IB-5 927,824.20 6.750000% 055240JL0 0.822566 5.593808 993.632259
IIM 1,205,949.83 6.500000% 055240JC0 3.368078 5.293540 973.900830
IIB-1 443,680.08 6.500000% 055240JD8 3.368078 5.293540 973.900826
IIB-2 317,612.39 6.500000% 055240JE6 3.368078 5.293540 973.900822
IIB-3 380,157.61 6.500000% 055240JM8 3.368078 5.293540 973.900842
IIB-4 190,567.44 6.500000% 055240JN6 3.368078 5.293540 973.900832
IIB-5 317,504.00 6.500000% 055240JP1 3.367962 5.293539 973.900731
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 438,534,894.38 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
principal balance 312,395,494.04 112,820,431.55 425,215,925.59
Aggregated loan count 976 329 1305
average loan rate 7.442302% 7.036254% 7.33
prepayment amount 9,364,051.10 3,286,976.38 12,651,027.48
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 97,531.45 42,379.35 139,910.80
sub servicer fees 0.00 0.00 0.00
trustee fees 1,207.60 436.91 1,644.51
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 4,166,456.81 1,830,688.68 5,997,145.49
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.969420% 100.000000% 420,838,168.88
-----------------------------------------------------------------------------
Junior 4.030580% 0.000000% 17,674,608.40
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 15,829,069.25 15,829,069.25
Principal remittance amount 13,336,520.34 13,336,520.34
Interest remittance amount 2,492,548.90 2,492,548.90
