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): January 25, 2000
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 January 25, 2000, 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 January 25, 2000 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: January 25, 2000
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 January 25, 2000
Payment Date: 01/25/00
------------------------------------------------------------
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 14,580,907.25 6.650000% 276,618.28 80,802.53 357,420.81 0.00 0.00
IA-2 22,179,553.16 6.250000% 549,778.84 115,518.51 665,297.35 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 46,895,734.61 6.500000% 605,102.50 254,018.56 859,121.06 0.00 0.00
IA-6 4,225,451.99 6.750000% 0.00 23,768.17 23,768.17 0.00 0.00
IA-7 64,595,511.89 6.990000% 1,494,335.40 376,268.86 1,870,604.26 0.00 0.00
IA-8 12,440,617.10 5.244208% 287,797.93 54,367.65 342,165.58 0.00 0.00
IA-9 4,306,367.46 7.500000% 99,622.36 26,914.80 126,537.16 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,300,154.70 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% 718,369.87 146,250.00 864,619.87 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 19,884,503.53 6.500000% 701,350.96 107,707.73 809,058.69 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 24,500,573.64 6.500000% 94,836.21 132,711.44 227,547.65 0.00 0.00
I-X-1 0.00 0.246626% 0.00 0.00 0.00 0.00 0.00
I-X-2 108,334,788.41 0.246626% 0.00 22,265.19 22,265.19 0.00 0.00
I-X-3 70,972,000.00 0.246626% 0.00 14,586.31 14,586.31 0.00 0.00
I-X-4 76,339,919.16 0.246626% 0.00 15,689.54 15,689.54 0.00 0.00
II-X 866,180.98 6.500000% 0.00 4,691.81 4,691.81 0.00 0.00
I-PO 100,871.36 0.000000% 130.99 0.00 130.99 0.00 0.00
II-PO 244,177.86 0.000000% 1,228.09 0.00 1,228.09 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.48 8.48 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 6,804,390.95 6.750000% 6,194.25 38,274.70 44,468.95 0.00 0.00
IB-1 3,126,155.28 6.750000% 2,845.84 17,584.62 20,430.46 0.00 0.00
IB-2 1,655,255.35 6.750000% 1,506.83 9,310.81 10,817.64 0.00 0.00
IB-3 1,287,530.36 6.750000% 1,172.08 7,242.36 8,414.44 0.00 0.00
IB-4 919,805.38 6.750000% 837.33 5,173.91 6,011.23 0.00 0.00
IB-5 919,802.43 6.750000% 837.33 5,173.89 6,011.21 0.00 0.00
IIM 1,162,834.91 6.500000% 4,501.07 6,298.69 10,799.76 0.00 0.00
IIB-1 427,817.71 6.500000% 1,655.99 2,317.35 3,973.33 0.00 0.00
IIB-2 306,257.17 6.500000% 1,185.45 1,658.89 2,844.35 0.00 0.00
IIB-3 366,566.28 6.500000% 1,418.90 1,985.57 3,404.46 0.00 0.00
IIB-4 183,754.30 6.500000% 711.27 995.34 1,706.61 0.00 0.00
IIB-5 306,152.85 6.500000% 1,185.05 1,658.33 2,843.38 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 373,423,295.52 - 4,853,222.80 2,116,416.52 6,969,639.32 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 14,304,288.97 0.00
IA-2 21,629,774.32 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 46,290,632.11 0.00
IA-6 4,158,218.38 0.00
IA-7 63,101,176.49 0.00
IA-8 12,152,819.17 0.00
IA-9 4,206,745.10 0.00
IA-10 0.00 0.00
IA-11 3,318,718.07 0.00
IA-12 59,500,000.00 0.00
IIA-1 26,281,630.13 0.00
IIA-2 25,828,000.00 0.00
IIA-3 19,183,152.57 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,405,737.43 0.00
I-X-1 0.00 0.00
I-X-2 106,966,336.90 0.00
I-X-3 70,972,000.00 0.00
I-X-4 74,752,516.31 0.00
II-X 857,092.99 0.00
I-PO 100,740.37 0.00
II-PO 242,949.77 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,798,196.70 0.00
IB-1 3,123,309.44 0.00
IB-2 1,653,748.52 0.00
IB-3 1,286,358.28 0.00
IB-4 918,968.05 0.00
IB-5 918,965.10 0.00
IIM 1,158,333.84 0.00
IIB-1 426,161.72 0.00
IIB-2 305,071.71 0.00
IIB-3 365,147.38 0.00
IIB-4 183,043.03 0.00
IIB-5 304,967.81 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 368,588,636.09 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 01/25/00
------------------------------------------------------------
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 14,580,907.25 6.650000% 055240GY5 17.288643 5.050158 894.018060
IA-2 22,179,553.16 6.250000% 055240GZ2 21.991154 4.620740 865.190973
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 46,895,734.61 6.500000% 055240HC2 12.102050 5.080371 925.812642
IA-6 4,225,451.99 6.750000% 055240HD0 0.000000 5.200491 909.820952
IA-7 64,595,511.89 6.990000% 055240HE8 11.376312 2.864519 480.386559
IA-8 12,440,617.10 5.244208% 055240HF5 11.376312 2.149089 480.386559
IA-9 4,306,367.46 7.500000% 055240HG3 11.376312 3.073518 480.386559
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,300,154.70 6.750000% 055240HJ7 0.000000 0.000000 1,106.239358
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 26.606291 5.416667 973.393709
IIA-2 25,828,000.00 6.500000% 055240HM0 0.000000 5.416667 1,000.000000
IIA-3 19,884,503.53 6.500000% 055240HN8 15.147969 2.326301 414.322950
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 24,500,573.64 6.500000% 055240HR9 3.647546 5.104286 938.682209
I-X-1 0.00 0.246626% 055240HS7 0.000000 0.000000 0.000000
I-X-2 108,334,788.41 0.246626% 055240HT5 0.000000 0.194735 935.543809
I-X-3 70,972,000.00 0.246626% 055240HU2 0.000000 0.205522 1,000.000000
I-X-4 76,339,919.16 0.246626% 055240HV0 0.000000 0.098206 467.902812
II-X 866,180.98 6.500000% 055240HW8 0.000000 3.499170 639.222836
I-PO 100,871.36 0.000000% 055240HX6 1.272757 0.000000 978.860140
II-PO 244,177.86 0.000000% 055240HY4 4.213564 0.000000 833.561278
Residual R-I 0.00 6.750000% 055240JF3 0.000000 169.682738 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.225700 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,804,390.95 6.750000% 055240HZ1 0.897457 5.545450 984.960403
IB-1 3,126,155.28 6.750000% 055240JA4 0.897457 5.545450 984.960403
IB-2 1,655,255.35 6.750000% 055240JB2 0.897457 5.545450 984.960406
IB-3 1,287,530.36 6.750000% 055240JJ5 0.897457 5.545450 984.960400
IB-4 919,805.38 6.750000% 055240JK2 0.897457 5.545450 984.960400
IB-5 919,802.43 6.750000% 055240JL0 0.897457 5.545450 984.960406
IIM 1,162,834.91 6.500000% 055240JC0 3.647546 5.104286 938.682205
IIB-1 427,817.71 6.500000% 055240JD8 3.647546 5.104286 938.682202
IIB-2 306,257.17 6.500000% 055240JE6 3.647546 5.104286 938.682198
IIB-3 366,566.28 6.500000% 055240JM8 3.647547 5.104286 938.682217
IIB-4 183,754.30 6.500000% 055240JN6 3.647546 5.104286 938.682207
IIB-5 306,152.85 6.500000% 055240JP1 3.647550 5.104291 938.683075
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 373,423,295.52 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 269,904,441.48 98,684,195.23 368,588,636.71
loan count 845 296 1141
average loan rate 7.428792% 7.025722% 7.32
prepayment amount 3,059,495.75 1,138,525.58 4,198,021.33
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 91,771.53 37,873.56 129,645.09
sub servicer fees 0.00 0.00 0.00
trustee fees 1,024.55 375.79 1,400.34
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 3,081,993.71 1,763,857.66 4,845,851.37
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.328788% 100.000000% 355,956,972.55
-----------------------------------------------------------------------------
Junior 4.671212% 0.000000% 17,442,271.59
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 267,173.47
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 267,173.47
- --------------------------------------------------------------------------------
<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 6,969,639.32 6,969,639.32
Principal remittance amount 4,853,222.80 4,853,222.80
Interest remittance amount 2,116,416.52 2,116,416.52
