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): August 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 August 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 August 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: August 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 August 25, 1999
Payment Date: 08/25/99
------------------------------------------------------------
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 15,792,628.06 6.650000% 219,152.31 87,517.48 306,669.79 0.00 0.00
IA-2 24,587,848.27 6.250000% 435,565.21 128,061.71 563,626.92 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 49,546,373.88 6.500000% 479,395.67 268,376.19 747,771.86 0.00 0.00
IA-6 4,519,967.47 6.750000% 0.00 25,424.82 25,424.82 0.00 0.00
IA-7 70,127,150.40 5.676250% 1,442,772.98 331,716.03 1,774,489.01 0.00 0.00
IA-8 13,505,969.71 12.065605% 277,867.39 135,798.08 413,665.47 0.00 0.00
IA-9 4,675,143.36 7.500000% 96,184.86 29,219.65 125,404.51 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,208,883.81 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 25,193,813.37 6.500000% 625,839.61 136,466.49 762,306.10 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 24,964,023.14 6.500000% 91,243.76 135,221.79 226,465.55 0.00 0.00
I-X-1 0.00 0.242616% 0.00 0.00 0.00 0.00 0.00
I-X-2 114,335,363.67 0.242616% 0.00 23,517.73 23,517.73 0.00 0.00
I-X-3 70,972,000.00 0.242616% 0.00 14,598.29 14,598.29 0.00 0.00
I-X-4 86,373,256.69 0.242616% 0.00 17,020.19 17,020.19 0.00 0.00
II-X 921,211.97 6.500000% 0.00 4,989.90 4,989.90 0.00 0.00
I-PO 101,509.02 0.000000% 131.60 0.00 131.60 0.00 0.00
II-PO 250,910.16 0.000000% 2,401.04 0.00 2,401.04 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.45 8.45 0.00 0.00
R-II 0.00 6.500000% 0.00 0.04 0.04 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,834,789.90 6.750000% 5,985.98 38,445.69 44,431.68 0.00 0.00
IB-1 3,140,121.53 6.750000% 2,750.15 17,663.18 20,413.34 0.00 0.00
IB-2 1,662,650.29 6.750000% 1,456.17 9,352.41 10,808.58 0.00 0.00
IB-3 1,293,282.47 6.750000% 1,132.67 7,274.71 8,407.38 0.00 0.00
IB-4 923,914.66 6.750000% 809.17 5,197.02 6,006.19 0.00 0.00
IB-5 923,911.69 6.750000% 809.17 5,197.00 6,006.18 0.00 0.00
IIM 1,184,830.94 6.500000% 4,330.57 6,417.83 10,748.40 0.00 0.00
IIB-1 435,910.25 6.500000% 1,593.26 2,361.18 3,954.44 0.00 0.00
IIB-2 312,050.29 6.500000% 1,140.55 1,690.27 2,830.82 0.00 0.00
IIB-3 373,500.20 6.500000% 1,365.15 2,023.13 3,388.27 0.00 0.00
IIB-4 187,230.17 6.500000% 684.33 1,014.16 1,698.49 0.00 0.00
IIB-5 311,944.00 6.500000% 1,140.16 1,689.70 2,829.86 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 392,466,389.55 - 3,693,751.75 2,225,685.63 5,919,437.39 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 15,573,475.75 0.00
IA-2 24,152,283.06 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 49,066,978.21 0.00
IA-6 4,466,701.28 0.00
IA-7 68,684,377.43 0.00
IA-8 13,228,102.32 0.00
IA-9 4,578,958.49 0.00
IA-10 0.00 0.00
IA-11 3,226,933.78 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 24,567,973.76 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,872,779.39 0.00
I-X-1 0.00 0.00
I-X-2 113,249,150.18 0.00
I-X-3 70,972,000.00 0.00
I-X-4 80,909,318.74 0.00
II-X 913,508.40 0.00
I-PO 101,377.42 0.00
II-PO 248,509.12 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,828,803.92 0.00
IB-1 3,137,371.38 0.00
IB-2 1,661,194.12 0.00
IB-3 1,292,149.80 0.00
IB-4 923,105.48 0.00
IB-5 923,102.52 0.00
IIM 1,180,500.37 0.00
IIB-1 434,316.99 0.00
IIB-2 310,909.74 0.00
IIB-3 372,135.05 0.00
IIB-4 186,545.85 0.00
IIB-5 310,803.84 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 388,790,687.77 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 08/25/99
------------------------------------------------------------
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 15,792,628.06 6.650000% 055240GY5 13.697019 5.469843 973.342235
IA-2 24,587,848.27 6.250000% 055240GZ2 17.422608 5.122468 966.091322
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 49,546,373.88 6.500000% 055240HC2 9.587913 5.367524 981.339564
IA-6 4,519,967.47 6.750000% 055240HD0 0.000000 5.562967 977.317216
IA-7 70,127,150.40 5.676250% 055240HE8 10.983769 2.525340 522.891229
IA-8 13,505,969.71 12.065605% 055240HF5 10.983769 5.367938 522.891229
IA-9 4,675,143.36 7.500000% 055240HG3 10.983769 3.336719 522.891229
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,208,883.81 6.750000% 055240HJ7 0.000000 0.000000 1,075.644593
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 25,193,813.37 6.500000% 055240HN8 13.517054 2.947440 530.625783
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 24,964,023.14 6.500000% 055240HR9 3.509375 5.200838 956.645361
I-X-1 0.00 0.242616% 055240HS7 0.000000 0.000000 0.000000
I-X-2 114,335,363.67 0.242616% 055240HT5 0.000000 0.205690 990.494247
I-X-3 70,972,000.00 0.242616% 055240HU2 0.000000 0.205691 1,000.000000
I-X-4 86,373,256.69 0.242616% 055240HV0 0.000000 0.106535 506.440447
II-X 921,211.97 6.500000% 055240HW8 0.000000 3.721483 681.297638
I-PO 101,509.02 0.000000% 055240HX6 1.278746 0.000000 985.050094
II-PO 250,910.16 0.000000% 055240HY4 8.237973 0.000000 852.635420
Residual R-I 0.00 6.750000% 055240JF3 0.000000 169.029428 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.772137 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,834,789.90 6.750000% 055240HZ1 0.867283 5.570225 989.394946
IB-1 3,140,121.53 6.750000% 055240JA4 0.867283 5.570225 989.394947
IB-2 1,662,650.29 6.750000% 055240JB2 0.867283 5.570225 989.394949
IB-3 1,293,282.47 6.750000% 055240JJ5 0.867283 5.570225 989.394944
IB-4 923,914.66 6.750000% 055240JK2 0.867283 5.570225 989.394944
IB-5 923,911.69 6.750000% 055240JL0 0.867283 5.570225 989.394949
IIM 1,184,830.94 6.500000% 055240JC0 3.509375 5.200838 956.645357
IIB-1 435,910.25 6.500000% 055240JD8 3.509375 5.200838 956.645354
IIB-2 312,050.29 6.500000% 055240JE6 3.509375 5.200838 956.645350
IIB-3 373,500.20 6.500000% 055240JM8 3.509375 5.200838 956.645369
IIB-4 187,230.17 6.500000% 055240JN6 3.509375 5.200838 956.645359
IIB-5 311,944.00 6.500000% 055240JP1 3.509378 5.200843 956.646243
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 392,466,389.55 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 283,478,214.45 105,312,473.94 388,790,688.39
loan count 879 306 1185
average loan rate 7.429625% 7.025733% 7.32
prepayment amount 2,695,103.91 342,132.98 3,037,236.89
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 100,717.91 41,951.17 142,669.09
sub servicer fees 8.24 0.00 8.24
trustee fees 1,074.09 397.66 1,471.75
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 3,743,071.94 1,797,741.74 5,540,813.68
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.525228% 100.000000% 374,882,253.17
-----------------------------------------------------------------------------
Junior 4.474772% 0.000000% 17,560,939.05
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,919,437.39 5,919,437.39
Principal remittance amount 3,693,751.75 3,693,751.75
Interest remittance amount 2,225,685.63 2,225,685.63
