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): July 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 July 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 July 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: July 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 July 25, 1999
Payment Date: 07/25/99
------------------------------------------------------------
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% 207,371.94 88,666.67 296,038.61 0.00 0.00
IA-2 25,000,000.00 6.250000% 412,151.73 130,208.33 542,360.06 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% 453,626.12 270,833.33 724,459.45 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 72,993,203.44 5.687500% 2,866,053.04 345,957.37 3,212,010.41 0.00 0.00
IA-8 14,057,950.29 12.007192% 551,980.59 140,663.76 692,644.34 0.00 0.00
IA-9 4,866,213.56 7.500000% 191,070.20 30,413.83 221,484.04 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,190,934.80 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 25,881,218.21 6.500000% 687,404.84 140,189.93 827,594.77 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 25,054,478.84 6.500000% 90,455.70 135,711.76 226,167.46 0.00 0.00
I-X-1 1,027,723.12 0.247645% 0.00 212.09 212.09 0.00 0.00
I-X-2 114,336,000.00 0.247645% 0.00 23,595.65 23,595.65 0.00 0.00
I-X-3 70,972,000.00 0.247645% 0.00 14,646.57 14,646.57 0.00 0.00
I-X-4 86,373,256.69 0.247645% 0.00 17,824.95 17,824.95 0.00 0.00
II-X 935,364.96 6.500000% 0.00 5,066.56 5,066.56 0.00 0.00
I-PO 101,630.96 0.000000% 121.94 0.00 121.94 0.00 0.00
II-PO 251,850.94 0.000000% 940.78 0.00 940.78 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.29 0.29 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 6,840,726.10 6.750000% 5,936.20 38,479.08 44,415.29 0.00 0.00
IB-1 3,142,848.81 6.750000% 2,727.28 17,678.52 20,405.81 0.00 0.00
IB-2 1,664,094.34 6.750000% 1,444.06 9,360.53 10,804.59 0.00 0.00
IB-3 1,294,405.72 6.750000% 1,123.25 7,281.03 8,404.28 0.00 0.00
IB-4 924,717.10 6.750000% 802.45 5,201.53 6,003.98 0.00 0.00
IB-5 924,714.13 6.750000% 802.44 5,201.52 6,003.96 0.00 0.00
IIM 1,189,124.11 6.500000% 4,293.17 6,441.09 10,734.26 0.00 0.00
IIB-1 437,489.74 6.500000% 1,579.50 2,369.74 3,949.23 0.00 0.00
IIB-2 313,180.98 6.500000% 1,130.70 1,696.40 2,827.09 0.00 0.00
IIB-3 374,853.55 6.500000% 1,353.36 2,030.46 3,383.81 0.00 0.00
IIB-4 187,908.59 6.500000% 678.42 1,017.84 1,696.26 0.00 0.00
IIB-5 313,074.16 6.500000% 1,130.16 1,695.82 2,825.98 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 397,932,618.40 - 5,484,177.85 2,257,575.49 7,741,753.34 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 15,792,628.06 0.00
IA-2 24,587,848.27 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 49,546,373.88 0.00
IA-6 4,519,967.47 0.00
IA-7 70,127,150.40 0.00
IA-8 13,505,969.71 0.00
IA-9 4,675,143.36 0.00
IA-10 0.00 0.00
IA-11 3,208,883.81 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 25,193,813.37 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,964,023.14 0.00
I-X-1 0.00 0.00
I-X-2 114,335,363.67 0.00
I-X-3 70,972,000.00 0.00
I-X-4 86,373,256.69 0.00
II-X 921,211.97 0.00
I-PO 101,509.02 0.00
II-PO 250,910.16 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,834,789.90 0.00
IB-1 3,140,121.53 0.00
IB-2 1,662,650.29 0.00
IB-3 1,293,282.47 0.00
IB-4 923,914.66 0.00
IB-5 923,911.69 0.00
IIM 1,184,830.94 0.00
IIB-1 435,910.25 0.00
IIB-2 312,050.29 0.00
IIB-3 373,500.20 0.00
IIB-4 187,230.17 0.00
IIB-5 311,944.00 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 392,466,389.55 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 07/25/99
------------------------------------------------------------
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 12.960746 5.541667 987.039254
IA-2 25,000,000.00 6.250000% 055240GZ2 16.486069 5.208333 983.513931
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 9.072522 5.416667 990.927478
IA-6 4,570,370.37 6.750000% 055240HD0 0.000000 5.625000 988.971892
IA-7 72,993,203.44 5.687500% 055240HE8 21.819139 2.633759 533.874998
IA-8 14,057,950.29 12.007192% 055240HF5 21.819139 5.560272 533.874998
IA-9 4,866,213.56 7.500000% 055240HG3 21.819139 3.473088 533.874998
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,190,934.80 6.750000% 055240HJ7 0.000000 0.000000 1,069.627936
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 25,881,218.21 6.500000% 055240HN8 14.846757 3.027860 544.142837
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 25,054,478.84 6.500000% 055240HR9 3.479065 5.219683 960.154736
I-X-1 1,027,723.12 0.247645% 055240HS7 0.000000 0.025162 0.000000
I-X-2 114,336,000.00 0.247645% 055240HT5 0.000000 0.206371 999.994435
I-X-3 70,972,000.00 0.247645% 055240HU2 0.000000 0.206371 1,000.000000
I-X-4 86,373,256.69 0.247645% 055240HV0 0.000000 0.111573 540.641194
II-X 935,364.96 6.500000% 055240HW8 0.000000 3.778657 687.042989
I-PO 101,630.96 0.000000% 055240HX6 1.184875 0.000000 986.328840
II-PO 251,850.94 0.000000% 055240HY4 3.227819 0.000000 860.873393
Residual R-I 0.00 6.750000% 055240JF3 0.000000 5.830685 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 6,840,726.10 6.750000% 055240HZ1 0.860070 5.575063 990.262229
IB-1 3,142,848.81 6.750000% 055240JA4 0.860070 5.575063 990.262229
IB-2 1,664,094.34 6.750000% 055240JB2 0.860070 5.575063 990.262232
IB-3 1,294,405.72 6.750000% 055240JJ5 0.860070 5.575063 990.262226
IB-4 924,717.10 6.750000% 055240JK2 0.860070 5.575063 990.262226
IB-5 924,714.13 6.750000% 055240JL0 0.860070 5.575063 990.262232
IIM 1,189,124.11 6.500000% 055240JC0 3.479065 5.219683 960.154732
IIB-1 437,489.74 6.500000% 055240JD8 3.479065 5.219683 960.154729
IIB-2 313,180.98 6.500000% 055240JE6 3.479065 5.219683 960.154725
IIB-3 374,853.55 6.500000% 055240JM8 3.479065 5.219683 960.154744
IIB-4 187,908.59 6.500000% 055240JN6 3.479065 5.219683 960.154735
IIB-5 313,074.16 6.500000% 055240JP1 3.478616 5.219685 960.155622
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 397,932,618.40 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 286,424,177.82 106,042,212.35 392,466,390.17
Loan count 891 307 1198
Average loan rate 7.431627% 7.026626% 7.32
Prepayment amount 4,424,646.07 403,244.94 4,827,891.01
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 94,416.00 41,600.13 136,016.12
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 1,091.63 400.62 1,492.25
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 3,746,939.31 1,804,405.26 5,551,344.57
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.580872% 100.000000% 380,325,481.04
-----------------------------------------------------------------------------
Junior 4.419128% 0.000000% 17,584,136.38
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 7,741,753.34 7,741,753.34
Principal remittance amount 5,484,177.85 5,484,177.85
Interest remittance amount 2,257,575.49 2,257,575.49
