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): September 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 September 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 September 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: September 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 September 25, 1999
Payment Date: 09/25/99
------------------------------------------------------------
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 15,573,475.75 6.650000% 230,845.00 86,303.01 317,148.01 0.00 0.00
IA-2 24,152,283.06 6.250000% 458,804.44 125,793.14 584,597.58 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 49,066,978.21 6.500000% 504,973.44 265,779.47 770,752.91 0.00 0.00
IA-6 4,466,701.28 6.750000% 0.00 25,125.19 25,125.19 0.00 0.00
IA-7 68,684,377.43 5.845000% 1,580,421.35 334,550.16 1,914,971.51 0.00 0.00
IA-8 13,228,102.32 11.189403% 304,377.45 123,345.47 427,722.92 0.00 0.00
IA-9 4,578,958.49 7.500000% 105,361.42 28,618.49 133,979.91 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,226,933.78 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 24,567,973.76 6.500000% 1,267,096.11 133,076.52 1,400,172.63 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 24,872,779.39 6.500000% 91,967.80 134,727.56 226,695.36 0.00 0.00
I-X-1 0.00 0.246009% 0.00 0.00 0.00 0.00 0.00
I-X-2 113,249,150.18 0.246009% 0.00 23,216.95 23,216.95 0.00 0.00
I-X-3 70,972,000.00 0.246009% 0.00 14,549.81 14,549.81 0.00 0.00
I-X-4 80,909,318.74 0.246009% 0.00 16,587.03 16,587.03 0.00 0.00
II-X 913,508.40 6.500000% 0.00 4,948.17 4,948.17 0.00 0.00
I-PO 101,377.42 0.000000% 121.69 0.00 121.69 0.00 0.00
II-PO 248,509.12 0.000000% 992.37 0.00 992.37 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.42 8.42 0.00 0.00
R-II 0.00 6.500000% 0.00 0.03 0.03 0.00 0.00
R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,828,803.92 6.750000% 6,029.26 38,412.02 44,441.28 0.00 0.00
IB-1 3,137,371.38 6.750000% 2,770.04 17,647.71 20,417.75 0.00 0.00
IB-2 1,661,194.12 6.750000% 1,466.70 9,344.22 10,810.91 0.00 0.00
IB-3 1,292,149.80 6.750000% 1,140.86 7,268.34 8,409.20 0.00 0.00
IB-4 923,105.48 6.750000% 815.02 5,192.47 6,007.49 0.00 0.00
IB-5 923,102.52 6.750000% 815.02 5,192.45 6,007.47 0.00 0.00
IIM 1,180,500.37 6.500000% 4,364.93 6,394.38 10,759.31 0.00 0.00
IIB-1 434,316.99 6.500000% 1,605.90 2,352.55 3,958.45 0.00 0.00
IIB-2 310,909.74 6.500000% 1,149.60 1,684.09 2,833.69 0.00 0.00
IIB-3 372,135.05 6.500000% 1,375.98 2,015.73 3,391.71 0.00 0.00
IIB-4 186,545.85 6.500000% 689.76 1,010.46 1,700.22 0.00 0.00
IIB-5 310,803.84 6.500000% 1,149.21 1,683.52 2,832.73 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 388,790,687.77 - 4,568,333.34 2,204,249.86 6,772,583.20 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 15,342,630.75 0.00
IA-2 23,693,478.62 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 48,562,004.77 0.00
IA-6 4,410,593.12 0.00
IA-7 67,103,956.08 0.00
IA-8 12,923,724.87 0.00
IA-9 4,473,597.07 0.00
IA-10 0.00 0.00
IA-11 3,245,085.28 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 23,300,877.65 0.00
IIA-4 0.00 0.00
IIA-5 0.00 0.00
IIA-6 24,780,811.58 0.00
I-X-1 0.00 0.00
I-X-2 112,105,512.00 0.00
I-X-3 70,972,000.00 0.00
I-X-4 78,948,204.39 0.00
II-X 885,872.49 0.00
I-PO 101,255.72 0.00
II-PO 247,516.75 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,822,774.66 0.00
IB-1 3,134,601.34 0.00
IB-2 1,659,727.43 0.00
IB-3 1,291,008.94 0.00
IB-4 922,290.46 0.00
IB-5 922,287.50 0.00
IIM 1,176,135.44 0.00
IIB-1 432,711.09 0.00
IIB-2 309,760.14 0.00
IIB-3 370,759.07 0.00
IIB-4 185,856.09 0.00
IIB-5 309,654.64 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 384,240,505.93 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 09/25/99
------------------------------------------------------------
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 15,573,475.75 6.650000% 055240GY5 14.427813 5.393938 958.914422
IA-2 24,152,283.06 6.250000% 055240GZ2 18.352178 5.031726 947.739145
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 49,066,978.21 6.500000% 055240HC2 10.099469 5.315589 971.240095
IA-6 4,466,701.28 6.750000% 055240HD0 0.000000 5.497409 965.040713
IA-7 68,684,377.43 5.845000% 055240HE8 12.031680 2.546916 510.859549
IA-8 13,228,102.32 11.189403% 055240HF5 12.031680 4.875701 510.859549
IA-9 4,578,958.49 7.500000% 055240HG3 12.031680 3.268070 510.859549
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,226,933.78 6.750000% 055240HJ7 0.000000 0.000000 1,081.695094
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 24,567,973.76 6.500000% 055240HN8 27.367087 2.874223 503.258697
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 24,872,779.39 6.500000% 055240HR9 3.537223 5.181829 953.108138
I-X-1 0.00 0.246009% 055240HS7 0.000000 0.000000 0.000000
I-X-2 113,249,150.18 0.246009% 055240HT5 0.000000 0.203059 980.491814
I-X-3 70,972,000.00 0.246009% 055240HU2 0.000000 0.205008 1,000.000000
I-X-4 80,909,318.74 0.246009% 055240HV0 0.000000 0.103824 494.165128
II-X 913,508.40 6.500000% 055240HW8 0.000000 3.690362 660.686682
I-PO 101,377.42 0.000000% 055240HX6 1.182457 0.000000 983.867637
II-PO 248,509.12 0.000000% 055240HY4 3.404812 0.000000 849.230608
Residual R-I 0.00 6.750000% 055240JF3 0.000000 168.304035 0.000000
R-II 0.00 6.500000% 055240JG1 0.000000 0.524908 0.000000
R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate IM 6,828,803.92 6.750000% 055240HZ1 0.873553 5.565347 988.521394
IB-1 3,137,371.38 6.750000% 055240JA4 0.873553 5.565347 988.521394
IB-2 1,661,194.12 6.750000% 055240JB2 0.873553 5.565347 988.521397
IB-3 1,292,149.80 6.750000% 055240JJ5 0.873553 5.565347 988.521391
IB-4 923,105.48 6.750000% 055240JK2 0.873553 5.565347 988.521391
IB-5 923,102.52 6.750000% 055240JL0 0.873553 5.565347 988.521397
IIM 1,180,500.37 6.500000% 055240JC0 3.537223 5.181829 953.108134
IIB-1 434,316.99 6.500000% 055240JD8 3.537223 5.181829 953.108130
IIB-2 310,909.74 6.500000% 055240JE6 3.537223 5.181829 953.108126
IIB-3 372,135.05 6.500000% 055240JM8 3.537223 5.181829 953.108146
IIB-4 186,545.85 6.500000% 055240JN6 3.537223 5.181829 953.108136
IIB-5 310,803.84 6.500000% 055240JP1 3.537226 5.181834 953.109017
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 388,790,687.77 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 280,298,424.26 103,942,082.29 384,240,506.55
loan count 870 305 1175
average loan rate 7.428294% 7.025367% 7.32
prepayment amount 2,929,496.54 980,964.64 3,910,461.18
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 97,388.14 38,802.06 136,190.20
sub servicer fees 8.23 0.00 8.23
trustee fees 1,063.04 394.92 1,457.97
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 3,739,180.87 1,791,040.74 5,530,221.61
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.488930% 100.000000% 371,229,748.72
-----------------------------------------------------------------------------
Junior 4.511070% 0.000000% 17,537,566.78
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 356,680.67
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 356,680.67
- --------------------------------------------------------------------------------
<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 6,772,583.20 6,772,583.20
Principal remittance amount 4,568,333.34 4,568,333.34
Interest remittance amount 2,204,249.86 2,204,249.86
