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): October 25, 1999
BAMS
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-4)
(Exact name of registrant as specified in charter)
North Carolina 33-63714 13-4078651
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
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 1998-4
On October 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 October 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: October 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 October 25, 1999
Payment Date: 10/25/99
------------------------------------------------------------
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 15,342,630.75 6.650000% 242,443.92 85,023.75 327,467.67 0.00 0.00
IA-2 23,693,478.62 6.250000% 481,857.30 123,403.53 605,260.83 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 48,562,004.77 6.500000% 530,346.08 263,044.19 793,390.27 0.00 0.00
IA-6 4,410,593.12 6.750000% 0.00 24,809.59 24,809.59 0.00 0.00
IA-7 67,103,956.08 5.880000% 996,358.13 328,809.38 1,325,167.51 0.00 0.00
IA-8 12,923,724.87 11.007672% 191,891.19 118,550.11 310,441.30 0.00 0.00
IA-9 4,473,597.07 7.500000% 66,423.88 27,959.98 94,383.86 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,245,085.28 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 23,300,877.65 6.500000% 894,708.16 126,213.09 1,020,921.25 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 24,780,811.58 6.500000% 92,701.71 134,229.40 226,931.11 0.00 0.00
I-X-1 0.00 0.246045% 0.00 0.00 0.00 0.00 0.00
I-X-2 112,105,512.00 0.246045% 0.00 22,985.85 22,985.85 0.00 0.00
I-X-3 70,972,000.00 0.246045% 0.00 14,551.93 14,551.93 0.00 0.00
I-X-4 78,948,204.39 0.246045% 0.00 16,187.36 16,187.36 0.00 0.00
II-X 885,872.49 6.500000% 0.00 4,798.48 4,798.48 0.00 0.00
I-PO 101,255.72 0.000000% 118.21 0.00 118.21 0.00 0.00
II-PO 247,516.75 0.000000% 961.54 0.00 961.54 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.32 8.32 0.00 0.00
R-II 0.00 6.500000% 0.00 0.07 0.07 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,822,774.66 6.750000% 6,095.50 38,378.11 44,473.61 0.00 0.00
IB-1 3,134,601.34 6.750000% 2,800.47 17,632.13 20,432.60 0.00 0.00
IB-2 1,659,727.43 6.750000% 1,482.81 9,335.97 10,818.78 0.00 0.00
IB-3 1,291,008.94 6.750000% 1,153.39 7,261.93 8,415.32 0.00 0.00
IB-4 922,290.46 6.750000% 823.98 5,187.88 6,011.86 0.00 0.00
IB-5 922,287.50 6.750000% 823.98 5,187.87 6,011.84 0.00 0.00
IIM 1,176,135.44 6.500000% 4,399.77 6,370.73 10,770.50 0.00 0.00
IIB-1 432,711.09 6.500000% 1,618.71 2,343.85 3,962.57 0.00 0.00
IIB-2 309,760.14 6.500000% 1,158.77 1,677.87 2,836.64 0.00 0.00
IIB-3 370,759.07 6.500000% 1,386.96 2,008.28 3,395.24 0.00 0.00
IIB-4 185,856.09 6.500000% 695.26 1,006.72 1,701.98 0.00 0.00
IIB-5 309,654.64 6.500000% 1,158.38 1,677.30 2,835.67 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 384,240,505.93 - 3,521,408.08 2,178,066.16 5,699,474.24 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 15,100,186.83 0.00
IA-2 23,211,621.32 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 48,031,658.69 0.00
IA-6 4,351,665.78 0.00
IA-7 66,107,597.95 0.00
IA-8 12,731,833.68 0.00
IA-9 4,407,173.19 0.00
IA-10 0.00 0.00
IA-11 3,263,338.89 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 22,406,169.50 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,688,109.87 0.00
I-X-1 0.00 0.00
I-X-2 110,904,908.32 0.00
I-X-3 70,972,000.00 0.00
I-X-4 78,307,744.79 0.00
II-X 882,212.49 0.00
I-PO 101,137.52 0.00
II-PO 246,555.22 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,816,679.16 0.00
IB-1 3,131,800.87 0.00
IB-2 1,658,244.62 0.00
IB-3 1,289,855.54 0.00
IB-4 921,466.48 0.00
IB-5 921,463.52 0.00
IIM 1,171,735.67 0.00
IIB-1 431,092.38 0.00
IIB-2 308,601.37 0.00
IIB-3 369,372.11 0.00
IIB-4 185,160.82 0.00
IIB-5 308,496.26 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 380,737,351.45 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 10/25/99
------------------------------------------------------------
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 15,342,630.75 6.650000% 055240GY5 15.152745 5.313984 943.761677
IA-2 23,693,478.62 6.250000% 055240GZ2 19.274292 4.936141 928.464853
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 48,562,004.77 6.500000% 055240HC2 10.606922 5.260884 960.633174
IA-6 4,410,593.12 6.750000% 055240HD0 0.000000 5.428354 952.147371
IA-7 67,103,956.08 5.880000% 055240HE8 7.585232 2.503212 503.274317
IA-8 12,923,724.87 11.007672% 055240HF5 7.585232 4.686145 503.274317
IA-9 4,473,597.07 7.500000% 055240HG3 7.585232 3.192872 503.274317
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,245,085.28 6.750000% 055240HJ7 0.000000 0.000000 1,087.779629
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 23,300,877.65 6.500000% 055240HN8 19.324150 2.725985 483.934546
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 24,780,811.58 6.500000% 055240HR9 3.565451 5.162669 949.542687
I-X-1 0.00 0.246045% 055240HS7 0.000000 0.000000 0.000000
I-X-2 112,105,512.00 0.246045% 055240HT5 0.000000 0.201038 969.991152
I-X-3 70,972,000.00 0.246045% 055240HU2 0.000000 0.205038 1,000.000000
I-X-4 78,948,204.39 0.246045% 055240HV0 0.000000 0.101322 490.156262
II-X 885,872.49 6.500000% 055240HW8 0.000000 3.578720 657.957040
I-PO 101,255.72 0.000000% 055240HX6 1.148563 0.000000 982.719075
II-PO 247,516.75 0.000000% 055240HY4 3.299033 0.000000 845.931575
Residual R-I 0.00 6.750000% 055240JF3 0.000000 166.326777 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 1.475929 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,822,774.66 6.750000% 055240HZ1 0.883150 5.560433 987.638244
IB-1 3,134,601.34 6.750000% 055240JA4 0.883150 5.560433 987.638244
IB-2 1,659,727.43 6.750000% 055240JB2 0.883150 5.560433 987.638247
IB-3 1,291,008.94 6.750000% 055240JJ5 0.883150 5.560433 987.638241
IB-4 922,290.46 6.750000% 055240JK2 0.883150 5.560433 987.638241
IB-5 922,287.50 6.750000% 055240JL0 0.883150 5.560433 987.638247
IIM 1,176,135.44 6.500000% 055240JC0 3.565450 5.162669 949.542684
IIB-1 432,711.09 6.500000% 055240JD8 3.565450 5.162669 949.542680
IIB-2 309,760.14 6.500000% 055240JE6 3.565450 5.162669 949.542676
IIB-3 370,759.07 6.500000% 055240JM8 3.565451 5.162669 949.542695
IIB-4 185,856.09 6.500000% 055240JN6 3.565450 5.162669 949.542686
IIB-5 309,654.64 6.500000% 055240JP1 3.565454 5.162674 949.543563
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 384,240,505.93 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-4
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
stated principal balance 277,794,059.04 102,943,293.03 380,737,352.07
loan count 862 303 1165
average loan rate 7.428088% 7.024083% 7.32
prepayment amount 2,253,939.34 609,926.27 2,863,865.61
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 100,736.61 38,681.05 139,417.66
sub servicer fees 0.00 0.00 0.00
trustee fees 1,051.12 389.78 1,440.90
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 3,735,874.19 1,784,302.04 5,520,176.23
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.441645% 100.000000% 366,702,939.16
-----------------------------------------------------------------------------
Junior 4.558355% 0.000000% 17,513,968.80
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,699,474.24 5,699,474.24
Principal remittance amount 3,521,408.08 3,521,408.08
Interest remittance amount 2,178,066.16 2,178,066.16
