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): February 25, 2000
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 February 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 February 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: February 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 February 25, 2000
Payment Date: 02/25/00
------------------------------------------------------------
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 14,304,288.97 6.650000% 287,782.63 79,269.60 367,052.23 0.00 0.00
IA-2 21,629,774.32 6.250000% 571,967.98 112,655.07 684,623.05 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 46,290,632.11 6.500000% 629,524.50 250,740.92 880,265.43 0.00 0.00
IA-6 4,158,218.38 6.750000% 0.00 23,389.98 23,389.98 0.00 0.00
IA-7 63,101,176.49 6.318750% 875,885.86 332,267.13 1,208,153.00 0.00 0.00
IA-8 12,152,819.17 8.729546% 168,689.13 88,407.16 257,096.29 0.00 0.00
IA-9 4,206,745.10 7.500000% 58,392.39 26,292.16 84,684.55 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,318,718.07 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 26,281,630.13 6.500000% 620,426.75 142,358.83 762,785.58 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 19,183,152.57 6.500000% 0.00 103,908.74 103,908.74 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 24,405,737.43 6.500000% 95,592.11 132,197.74 227,789.85 0.00 0.00
I-X-1 0.00 0.245512% 0.00 0.00 0.00 0.00 0.00
I-X-2 106,966,336.90 0.245512% 0.00 21,884.62 21,884.62 0.00 0.00
I-X-3 70,972,000.00 0.245512% 0.00 14,520.41 14,520.41 0.00 0.00
I-X-4 74,752,516.31 0.245512% 0.00 15,293.88 15,293.88 0.00 0.00
II-X 857,092.99 6.500000% 0.00 4,642.59 4,642.59 0.00 0.00
I-PO 100,740.37 0.000000% 120.63 0.00 120.63 0.00 0.00
II-PO 242,949.77 0.000000% 1,036.20 0.00 1,036.20 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 8.41 8.41 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 6,798,196.70 6.750000% 6,235.74 38,239.86 44,475.60 0.00 0.00
IB-1 3,123,309.44 6.750000% 2,864.90 17,568.62 20,433.51 0.00 0.00
IB-2 1,653,748.52 6.750000% 1,516.92 9,302.34 10,819.26 0.00 0.00
IB-3 1,286,358.28 6.750000% 1,179.93 7,235.77 8,415.70 0.00 0.00
IB-4 918,968.05 6.750000% 842.94 5,169.20 6,012.13 0.00 0.00
IB-5 918,965.10 6.750000% 842.93 5,169.18 6,012.11 0.00 0.00
IIM 1,158,333.84 6.500000% 4,536.95 6,274.31 10,811.26 0.00 0.00
IIB-1 426,161.72 6.500000% 1,669.19 2,308.38 3,977.56 0.00 0.00
IIB-2 305,071.71 6.500000% 1,194.90 1,652.47 2,847.37 0.00 0.00
IIB-3 365,147.38 6.500000% 1,430.20 1,977.88 3,408.09 0.00 0.00
IIB-4 183,043.03 6.500000% 716.94 991.48 1,708.42 0.00 0.00
IIB-5 304,967.81 6.500000% 1,194.49 1,651.91 2,846.40 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 368,588,636.09 - 3,333,644.20 2,088,551.14 5,422,195.34 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 14,016,506.34 0.00
IA-2 21,057,806.34 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 45,661,107.61 0.00
IA-6 4,088,271.22 0.00
IA-7 62,225,290.63 0.00
IA-8 11,984,130.04 0.00
IA-9 4,148,352.71 0.00
IA-10 0.00 0.00
IA-11 3,337,385.86 0.00
IA-12 59,500,000.00 0.00
IIA-1 25,661,203.38 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 24,310,145.32 0.00
I-X-1 0.00 0.00
I-X-2 105,543,048.63 0.00
I-X-3 70,972,000.00 0.00
I-X-4 73,610,722.13 0.00
II-X 852,538.08 0.00
I-PO 100,619.74 0.00
II-PO 241,913.57 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,791,960.96 0.00
IB-1 3,120,444.54 0.00
IB-2 1,652,231.60 0.00
IB-3 1,285,178.35 0.00
IB-4 918,125.12 0.00
IB-5 918,122.17 0.00
IIM 1,153,796.89 0.00
IIB-1 424,492.53 0.00
IIB-2 303,876.81 0.00
IIB-3 363,717.18 0.00
IIB-4 182,326.09 0.00
IIB-5 303,773.32 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 365,273,659.68 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/00
------------------------------------------------------------
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 14,304,288.97 6.650000% 055240GY5 17.986414 4.954350 876.031646
IA-2 21,629,774.32 6.250000% 055240GZ2 22.878719 4.506203 842.312254
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 46,290,632.11 6.500000% 055240HC2 12.590490 5.014818 913.222152
IA-6 4,158,218.38 6.750000% 055240HD0 0.000000 5.117743 894.516465
IA-7 63,101,176.49 6.318750% 055240HE8 6.668082 2.529535 473.718478
IA-8 12,152,819.17 8.729546% 055240HF5 6.668082 3.494631 473.718478
IA-9 4,206,745.10 7.500000% 055240HG3 6.668082 3.002416 473.718477
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,318,718.07 6.750000% 055240HJ7 0.000000 0.000000 1,112.461954
IA-12 59,500,000.00 6.750000% 055240HK4 0.000000 5.625000 1,000.000000
IIA-1 26,281,630.13 6.500000% 055240HL2 22.978768 5.272549 950.414940
IIA-2 25,828,000.00 6.500000% 055240HM0 0.000000 5.416667 1,000.000000
IIA-3 19,183,152.57 6.500000% 055240HN8 0.000000 2.244249 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 24,405,737.43 6.500000% 055240HR9 3.676619 5.084529 935.005589
I-X-1 0.00 0.245512% 055240HS7 0.000000 0.000000 0.000000
I-X-2 106,966,336.90 0.245512% 055240HT5 0.000000 0.191406 923.095513
I-X-3 70,972,000.00 0.245512% 055240HU2 0.000000 0.204594 1,000.000000
I-X-4 74,752,516.31 0.245512% 055240HV0 0.000000 0.095730 460.755913
II-X 857,092.99 6.500000% 055240HW8 0.000000 3.462457 635.825766
I-PO 100,740.37 0.000000% 055240HX6 1.172083 0.000000 977.688057
II-PO 242,949.77 0.000000% 055240HY4 3.555210 0.000000 830.006068
Residual R-I 0.00 6.750000% 055240JF3 0.000000 168.197621 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 6,798,196.70 6.750000% 055240HZ1 0.903468 5.540402 984.056934
IB-1 3,123,309.44 6.750000% 055240JA4 0.903468 5.540402 984.056934
IB-2 1,653,748.52 6.750000% 055240JB2 0.903468 5.540402 984.056937
IB-3 1,286,358.28 6.750000% 055240JJ5 0.903468 5.540402 984.056932
IB-4 918,968.05 6.750000% 055240JK2 0.903468 5.540402 984.056932
IB-5 918,965.10 6.750000% 055240JL0 0.903468 5.540402 984.056937
IIM 1,158,333.84 6.500000% 055240JC0 3.676619 5.084529 935.005586
IIB-1 426,161.72 6.500000% 055240JD8 3.676619 5.084529 935.005582
IIB-2 305,071.71 6.500000% 055240JE6 3.676619 5.084529 935.005578
IIB-3 365,147.38 6.500000% 055240JM8 3.676620 5.084529 935.005597
IIB-4 183,043.03 6.500000% 055240JN6 3.676619 5.084529 935.005588
IIB-5 304,967.81 6.500000% 055240JP1 3.676602 5.084533 935.006473
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 368,588,636.09 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 267,317,262.79 97,956,397.50 365,273,660.29
Loan count 834 293 1127
Average loan rate 7.427650% 7.025740% 7.32
Prepayment amount 2,339,598.22 341,250.00 2,680,848.22
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 93,401.33 38,223.37 131,624.70
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 1,012.14 370.07 1,382.21
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 3,079,050.35 1,756,966.06 4,836,016.41
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.274084% 100.000000% 351,146,364.50
-----------------------------------------------------------------------------
Junior 4.725916% 0.000000% 17,418,045.56
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,422,195.34 5,422,195.34
Principal remittance amount 3,333,644.20 3,333,644.20
Interest remittance amount 2,088,551.14 2,088,551.14
