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): November 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 November 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 November 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: November 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 November 25, 1999
Payment Date: 11/25/99
------------------------------------------------------------
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 15,100,186.83 6.650000% 253,943.09 83,680.20 337,623.29 0.00 0.00
IA-2 23,211,621.32 6.250000% 504,711.88 120,893.86 625,605.74 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 48,031,658.69 6.500000% 555,500.50 260,171.48 815,671.99 0.00 0.00
IA-6 4,351,665.78 6.750000% 0.00 24,478.12 24,478.12 0.00 0.00
IA-7 66,107,597.95 5.910000% 960,962.74 325,579.92 1,286,542.66 0.00 0.00
IA-8 12,731,833.68 10.851903% 185,074.31 115,137.19 300,211.49 0.00 0.00
IA-9 4,407,173.19 7.500000% 64,064.18 27,544.83 91,609.02 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,263,338.89 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 22,406,169.50 6.500000% 625,949.29 121,366.75 747,316.04 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 24,688,109.87 6.500000% 93,392.84 133,727.26 227,120.10 0.00 0.00
I-X-1 0.00 0.246222% 0.00 0.00 0.00 0.00 0.00
I-X-2 110,904,908.32 0.246222% 0.00 22,756.03 22,756.03 0.00 0.00
I-X-3 70,972,000.00 0.246222% 0.00 14,562.40 14,562.40 0.00 0.00
I-X-4 78,307,744.79 0.246222% 0.00 16,067.58 16,067.58 0.00 0.00
II-X 882,212.49 6.500000% 0.00 4,778.65 4,778.65 0.00 0.00
I-PO 101,137.52 0.000000% 156.27 0.00 156.27 0.00 0.00
II-PO 246,555.22 0.000000% 984.12 0.00 984.12 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.37 8.37 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 6,816,679.16 6.750000% 6,146.65 38,343.82 44,490.47 0.00 0.00
IB-1 3,131,800.87 6.750000% 2,823.97 17,616.38 20,440.35 0.00 0.00
IB-2 1,658,244.62 6.750000% 1,495.25 9,327.63 10,822.88 0.00 0.00
IB-3 1,289,855.54 6.750000% 1,163.07 7,255.44 8,418.51 0.00 0.00
IB-4 921,466.48 6.750000% 830.89 5,183.25 6,014.14 0.00 0.00
IB-5 921,463.52 6.750000% 830.89 5,183.23 6,014.12 0.00 0.00
IIM 1,171,735.67 6.500000% 4,432.57 6,346.90 10,779.47 0.00 0.00
IIB-1 431,092.38 6.500000% 1,630.78 2,335.08 3,965.87 0.00 0.00
IIB-2 308,601.37 6.500000% 1,167.41 1,671.59 2,839.00 0.00 0.00
IIB-3 369,372.11 6.500000% 1,397.30 2,000.77 3,398.07 0.00 0.00
IIB-4 185,160.82 6.500000% 700.45 1,002.95 1,703.40 0.00 0.00
IIB-5 308,496.26 6.500000% 1,167.01 1,671.02 2,838.03 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 380,737,351.45 - 3,268,525.47 2,158,113.23 5,426,638.70 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 14,846,243.74 0.00
IA-2 22,706,909.44 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 47,476,158.19 0.00
IA-6 4,289,943.50 0.00
IA-7 65,146,635.21 0.00
IA-8 12,546,759.37 0.00
IA-9 4,343,109.01 0.00
IA-10 0.00 0.00
IA-11 3,281,695.17 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 21,780,220.21 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,594,717.03 0.00
I-X-1 0.00 0.00
I-X-2 109,647,827.81 0.00
I-X-3 70,972,000.00 0.00
I-X-4 77,068,429.81 0.00
II-X 873,755.31 0.00
I-PO 100,981.25 0.00
II-PO 245,571.10 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,810,532.51 0.00
IB-1 3,128,976.90 0.00
IB-2 1,656,749.36 0.00
IB-3 1,288,692.47 0.00
IB-4 920,635.59 0.00
IB-5 920,632.63 0.00
IIM 1,167,303.10 0.00
IIB-1 429,461.59 0.00
IIB-2 307,433.96 0.00
IIB-3 367,974.81 0.00
IIB-4 184,460.38 0.00
IIB-5 307,329.25 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 377,487,182.26 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 11/25/99
------------------------------------------------------------
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 15,100,186.83 6.650000% 055240GY5 15.871443 5.230013 927.890234
IA-2 23,211,621.32 6.250000% 055240GZ2 20.188475 4.835754 908.276378
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 48,031,658.69 6.500000% 055240HC2 11.110010 5.203430 949.523164
IA-6 4,351,665.78 6.750000% 055240HD0 0.000000 5.355829 938.642496
IA-7 66,107,597.95 5.910000% 055240HE8 7.315768 2.478626 495.958549
IA-8 12,731,833.68 10.851903% 055240HF5 7.315768 4.551237 495.958549
IA-9 4,407,173.19 7.500000% 055240HG3 7.315768 3.145464 495.958549
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,263,338.89 6.750000% 055240HJ7 0.000000 0.000000 1,093.898389
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 22,406,169.50 6.500000% 055240HN8 13.519423 2.621312 470.415123
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 24,688,109.87 6.500000% 055240HR9 3.592032 5.143356 945.950655
I-X-1 0.00 0.246222% 055240HS7 0.000000 0.000000 0.000000
I-X-2 110,904,908.32 0.246222% 055240HT5 0.000000 0.199028 958.996535
I-X-3 70,972,000.00 0.246222% 055240HU2 0.000000 0.205185 1,000.000000
I-X-4 78,307,744.79 0.246222% 055240HV0 0.000000 0.100573 482.398945
II-X 882,212.49 6.500000% 055240HW8 0.000000 3.563934 651.649647
I-PO 101,137.52 0.000000% 055240HX6 1.518418 0.000000 981.200657
II-PO 246,555.22 0.000000% 055240HY4 3.376520 0.000000 842.555054
Residual R-I 0.00 6.750000% 055240JF3 0.000000 167.499463 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.132346 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,816,679.16 6.750000% 055240HZ1 0.890561 5.555465 986.747683
IB-1 3,131,800.87 6.750000% 055240JA4 0.890561 5.555465 986.747683
IB-2 1,658,244.62 6.750000% 055240JB2 0.890561 5.555465 986.747686
IB-3 1,289,855.54 6.750000% 055240JJ5 0.890561 5.555465 986.747680
IB-4 921,466.48 6.750000% 055240JK2 0.890561 5.555465 986.747680
IB-5 921,463.52 6.750000% 055240JL0 0.890561 5.555465 986.747686
IIM 1,171,735.67 6.500000% 055240JC0 3.592032 5.143356 945.950651
IIB-1 431,092.38 6.500000% 055240JD8 3.592032 5.143356 945.950648
IIB-2 308,601.37 6.500000% 055240JE6 3.592032 5.143356 945.950644
IIB-3 369,372.11 6.500000% 055240JM8 3.592032 5.143356 945.950663
IIB-4 185,160.82 6.500000% 055240JN6 3.592032 5.143356 945.950653
IIB-5 308,496.26 6.500000% 055240JP1 3.592036 5.143361 945.951528
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 380,737,351.45 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 275,274,711.62 102,212,471.26 377,487,182.88
loan count 856 302 1158
average loan rate 7.429079% 7.025528% 7.32
prepayment amount 2,268,852.44 341,368.83 2,610,221.27
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 102,152.49 40,443.84 142,596.33
Monthly sub servicer fees 8.21 0.00 8.21
Monthly trustee fees 1,041.73 386.04 1,427.77
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 3,088,323.34 1,777,525.44 4,865,848.78
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.405947% 100.000000% 363,223,382.65
-----------------------------------------------------------------------------
Junior 4.594053% 0.000000% 17,490,182.55
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,426,638.70 5,426,638.70
Principal remittance amount 3,268,525.47 3,268,525.47
Interest remittance amount 2,158,113.23 2,158,113.23