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): June 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 June 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 June 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: June 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 June 25, 1999
Payment Date: 06/25/99
------------------------------------------------------------
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 79,053,502.11 5.421250% 6,060,298.66 357,140.67 6,417,439.33 0.00 0.00
IA-8 15,225,118.92 13.389644% 1,167,168.63 169,882.44 1,337,051.07 0.00 0.00
IA-9 5,270,233.47 7.500000% 404,019.91 32,938.96 436,958.87 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,173,086.19 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 27,547,196.99 6.500000% 1,665,978.78 149,213.98 1,815,192.77 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 25,144,175.39 6.500000% 89,696.55 136,197.62 225,894.17 0.00 0.00
I-X-1 1,997,829.26 0.247958% 0.00 412.81 412.81 0.00 0.00
I-X-2 114,336,000.00 0.247958% 0.00 23,625.44 23,625.44 0.00 0.00
I-X-3 70,972,000.00 0.247958% 0.00 14,665.06 14,665.06 0.00 0.00
I-X-4 92,731,045.68 0.247958% 0.00 19,161.17 19,161.17 0.00 0.00
II-X 971,956.80 6.500000% 0.00 5,264.77 5,264.77 0.00 0.00
I-PO 101,742.05 0.000000% 111.09 0.00 111.09 0.00 0.00
II-PO 252,808.47 0.000000% 957.53 0.00 957.53 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.34 0.34 0.00 0.00
R-II 0.00 6.500000% 0.00 0.01 0.01 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,846,556.70 6.750000% 5,830.59 38,511.88 44,342.48 0.00 0.00
IB-1 3,145,527.57 6.750000% 2,678.76 17,693.59 20,372.35 0.00 0.00
IB-2 1,665,512.71 6.750000% 1,418.37 9,368.51 10,786.88 0.00 0.00
IB-3 1,295,508.99 6.750000% 1,103.27 7,287.24 8,390.51 0.00 0.00
IB-4 925,505.27 6.750000% 788.17 5,205.97 5,994.14 0.00 0.00
IB-5 925,502.30 6.750000% 788.17 5,205.95 5,994.12 0.00 0.00
IIM 1,193,381.24 6.500000% 4,257.14 6,464.15 10,721.28 0.00 0.00
IIB-1 439,055.98 6.500000% 1,566.24 2,378.22 3,944.46 0.00 0.00
IIB-2 314,302.19 6.500000% 1,121.21 1,702.47 2,823.68 0.00 0.00
IIB-3 376,195.55 6.500000% 1,342.00 2,037.73 3,379.72 0.00 0.00
IIB-4 188,581.32 6.500000% 672.72 1,021.48 1,694.21 0.00 0.00
IIB-5 314,194.99 6.500000% 1,120.82 1,701.89 2,822.71 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 407,325,688.41 - 9,410,918.62 2,311,921.51 11,722,840.13 - -
- ----------------------------------------------------------------------------------------------------------------------------------
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 72,993,203.44 0.00
IA-8 14,057,950.29 0.00
IA-9 4,866,213.56 0.00
IA-10 0.00 0.00
IA-11 3,190,934.80 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 25,881,218.21 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 25,054,478.84 0.00
I-X-1 1,027,723.12 0.00
I-X-2 114,336,000.00 0.00
I-X-3 70,972,000.00 0.00
I-X-4 86,373,256.69 0.00
II-X 935,364.96 0.00
I-PO 101,630.96 0.00
II-PO 251,850.94 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,840,726.10 0.00
IB-1 3,142,848.81 0.00
IB-2 1,664,094.34 0.00
IB-3 1,294,405.72 0.00
IB-4 924,717.10 0.00
IB-5 924,714.13 0.00
IIM 1,189,124.11 0.00
IIB-1 437,489.74 0.00
IIB-2 313,180.98 0.00
IIB-3 374,853.55 0.00
IIB-4 187,908.59 0.00
IIB-5 313,074.16 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 397,932,618.40 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 06/25/99
------------------------------------------------------------
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 1,000.000081
IA-7 79,053,502.11 5.421250% 055240HE8 46.136795 2.718897 555.694138
IA-8 15,225,118.92 13.389644% 055240HF5 46.136795 6.715252 555.694138
IA-9 5,270,233.47 7.500000% 055240HG3 46.136795 3.761443 555.694137
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,173,086.19 6.750000% 055240HJ7 0.000000 0.000000 1,063.644933
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 27,547,196.99 6.500000% 055240HN8 35.982263 3.222764 558.989594
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 25,144,175.39 6.500000% 055240HR9 3.449867 5.238370 963.633801
I-X-1 1,997,829.26 0.247958% 055240HS7 0.000000 0.048976 121.927052
I-X-2 114,336,000.00 0.247958% 055240HT5 0.000000 0.206632 1,000.000000
I-X-3 70,972,000.00 0.247958% 055240HU2 0.000000 0.206632 1,000.000000
I-X-4 92,731,045.68 0.247958% 055240HV0 0.000000 0.119937 540.641194
II-X 971,956.80 6.500000% 055240HW8 0.000000 3.926480 697.598336
I-PO 101,742.05 0.000000% 055240HX6 1.079382 0.000000 987.513715
II-PO 252,808.47 0.000000% 055240HY4 3.285305 0.000000 864.101212
Residual R-I 0.00 6.750000% 055240JF3 0.000000 6.709228 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.104881 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,846,556.70 6.750000% 055240HZ1 0.844769 5.579815 991.122299
IB-1 3,145,527.57 6.750000% 055240JA4 0.844769 5.579815 991.122299
IB-2 1,665,512.71 6.750000% 055240JB2 0.844769 5.579815 991.122302
IB-3 1,295,508.99 6.750000% 055240JJ5 0.844769 5.579815 991.122296
IB-4 925,505.27 6.750000% 055240JK2 0.844769 5.579815 991.122296
IB-5 925,502.30 6.750000% 055240JL0 0.844769 5.579815 991.122302
IIM 1,193,381.24 6.500000% 055240JC0 3.449867 5.238370 963.633798
IIB-1 439,055.98 6.500000% 055240JD8 3.449867 5.238370 963.633794
IIB-2 314,302.19 6.500000% 055240JE6 3.449867 5.238370 963.633790
IIB-3 376,195.55 6.500000% 055240JM8 3.449867 5.238370 963.633810
IIB-4 188,581.32 6.500000% 055240JN6 3.449867 5.238370 963.633800
IIB-5 314,194.99 6.500000% 055240JP1 3.449869 5.238372 963.634238
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 407,325,688.41 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 291,101,440.05 106,831,179.11 397,932,619.16
Loan count 911 311 1222
Average loan rate 7.432747% 7.029885% 7.33
Prepayment amount 7,371,950.57 1,379,287.90 8,751,238.47
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 95,843.17 40,609.68 136,452.85
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 1,120.23 407.24 1,527.47
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 3,753,232.51 1,811,031.50 5,564,264.01
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.677140% 100.000000% 389,695,863.60
-----------------------------------------------------------------------------
Junior 4.322860% 0.000000% 17,607,137.35
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 11,722,840.13 11,722,840.13
Principal remittance amount 9,410,918.62 9,410,918.62
Interest remittance amount 2,311,921.51 2,311,921.51
