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): March 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 March 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 March 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: March 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 March 25, 2000
Payment Date: 03/25/00
------------------------------------------------------------
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 14,016,506.34 6.650000% 232,544.03 77,674.81 310,218.83 0.00 0.00
IA-2 21,057,806.34 6.250000% 462,181.25 109,676.07 571,857.33 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 45,661,107.61 6.500000% 508,690.06 247,331.00 756,021.06 0.00 0.00
IA-6 4,088,271.22 6.750000% 0.00 22,996.53 22,996.53 0.00 0.00
IA-7 62,225,290.63 6.377500% 14,907.81 330,701.49 345,609.30 0.00 0.00
IA-8 11,984,130.04 8.424498% 2,871.13 84,133.57 87,004.70 0.00 0.00
IA-9 4,148,352.71 7.500000% 993.85 25,927.20 26,921.06 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,337,385.86 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 25,661,203.38 6.500000% 332,050.55 138,998.18 471,048.74 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 24,310,145.32 6.500000% 96,269.17 131,679.95 227,949.13 0.00 0.00
I-X-1 0.00 0.245679% 0.00 0.00 0.00 0.00 0.00
I-X-2 105,543,048.63 0.245679% 0.00 21,608.07 21,608.07 0.00 0.00
I-X-3 70,972,000.00 0.245679% 0.00 14,530.26 14,530.26 0.00 0.00
I-X-4 73,610,722.13 0.245679% 0.00 15,070.49 15,070.49 0.00 0.00
II-X 852,538.08 6.500000% 0.00 4,617.91 4,617.91 0.00 0.00
I-PO 100,619.74 0.000000% 123.11 0.00 123.11 0.00 0.00
II-PO 241,913.57 0.000000% 1,015.61 0.00 1,015.61 0.00 0.00
Residual R-I 0.00 6.750000% 0.00 0.00 0.00 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 6,791,960.96 6.750000% 6,285.45 38,204.78 44,490.23 0.00 0.00
IB-1 3,120,444.54 6.750000% 2,887.74 17,552.50 20,440.24 0.00 0.00
IB-2 1,652,231.60 6.750000% 1,529.02 9,293.80 10,822.82 0.00 0.00
IB-3 1,285,178.35 6.750000% 1,189.34 7,229.13 8,418.46 0.00 0.00
IB-4 918,125.12 6.750000% 849.66 5,164.45 6,014.11 0.00 0.00
IB-5 918,122.17 6.750000% 849.65 5,164.44 6,014.09 0.00 0.00
IIM 1,153,796.89 6.500000% 4,569.08 6,249.73 10,818.82 0.00 0.00
IIB-1 424,492.53 6.500000% 1,681.01 2,299.33 3,980.34 0.00 0.00
IIB-2 303,876.81 6.500000% 1,203.36 1,646.00 2,849.36 0.00 0.00
IIB-3 363,717.18 6.500000% 1,440.33 1,970.13 3,410.47 0.00 0.00
IIB-4 182,326.09 6.500000% 722.02 987.60 1,709.62 0.00 0.00
IIB-5 303,773.32 6.500000% 1,202.95 1,645.44 2,848.39 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 365,273,659.68 - 1,676,056.21 2,069,434.14 3,745,490.34 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 13,783,962.31 0.00
IA-2 20,595,625.09 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 45,152,417.55 0.00
IA-6 4,031,750.10 0.00
IA-7 62,210,382.82 0.00
IA-8 11,981,258.91 0.00
IA-9 4,147,358.85 0.00
IA-10 0.00 0.00
IA-11 3,356,158.66 0.00
IA-12 59,500,000.00 0.00
IIA-1 25,329,152.83 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 24,213,876.15 0.00
I-X-1 0.00 0.00
I-X-2 104,348,042.01 0.00
I-X-3 70,972,000.00 0.00
I-X-4 73,610,722.13 0.00
II-X 848,969.97 0.00
I-PO 100,496.63 0.00
II-PO 240,897.96 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,785,675.51 0.00
IB-1 3,117,556.80 0.00
IB-2 1,650,702.58 0.00
IB-3 1,283,989.02 0.00
IB-4 917,275.46 0.00
IB-5 917,272.52 0.00
IIM 1,149,227.81 0.00
IIB-1 422,811.53 0.00
IIB-2 302,673.45 0.00
IIB-3 362,276.84 0.00
IIB-4 181,604.07 0.00
IIB-5 302,570.36 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 363,616,376.27 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/00
------------------------------------------------------------
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 14,016,506.34 6.650000% 055240GY5 14.534002 4.854675 861.497644
IA-2 21,057,806.34 6.250000% 055240GZ2 18.487250 4.387043 823.825004
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 45,661,107.61 6.500000% 055240HC2 10.173801 4.946620 903.048351
IA-6 4,088,271.22 6.750000% 055240HD0 0.000000 5.031655 882.149607
IA-7 62,225,290.63 6.377500% 055240HE8 0.113493 2.517616 473.604985
IA-8 11,984,130.04 8.424498% 055240HF5 0.113493 3.325700 473.604985
IA-9 4,148,352.71 7.500000% 055240HG3 0.113493 2.960740 473.604985
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,337,385.86 6.750000% 055240HJ7 0.000000 0.000000 1,118.719553
IA-12 59,500,000.00 6.750000% 055240HK4 0.000000 5.625000 1,000.000000
IIA-1 25,661,203.38 6.500000% 055240HL2 12.298169 5.148081 938.116772
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 24,310,145.32 6.500000% 055240HR9 3.702660 5.064614 931.302929
I-X-1 0.00 0.245679% 055240HS7 0.000000 0.000000 0.000000
I-X-2 105,543,048.63 0.245679% 055240HT5 0.000000 0.188987 912.643804
I-X-3 70,972,000.00 0.245679% 055240HU2 0.000000 0.204732 1,000.000000
I-X-4 73,610,722.13 0.245679% 055240HV0 0.000000 0.094332 460.755913
II-X 852,538.08 6.500000% 055240HW8 0.000000 3.444056 633.164659
I-PO 100,619.74 0.000000% 055240HX6 1.196262 0.000000 976.491795
II-PO 241,913.57 0.000000% 055240HY4 3.484567 0.000000 826.521500
Residual R-I 0.00 6.750000% 055240JF3 0.000000 0.000000 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 6,791,960.96 6.750000% 055240HZ1 0.910671 5.535320 983.146263
IB-1 3,120,444.54 6.750000% 055240JA4 0.910671 5.535320 983.146263
IB-2 1,652,231.60 6.750000% 055240JB2 0.910671 5.535320 983.146266
IB-3 1,285,178.35 6.750000% 055240JJ5 0.910671 5.535320 983.146260
IB-4 918,125.12 6.750000% 055240JK2 0.910671 5.535320 983.146260
IB-5 918,122.17 6.750000% 055240JL0 0.910671 5.535320 983.146266
IIM 1,153,796.89 6.500000% 055240JC0 3.702660 5.064614 931.302925
IIB-1 424,492.53 6.500000% 055240JD8 3.702660 5.064614 931.302922
IIB-2 303,876.81 6.500000% 055240JE6 3.702660 5.064614 931.302918
IIB-3 363,717.18 6.500000% 055240JM8 3.702661 5.064614 931.302937
IIB-4 182,326.09 6.500000% 055240JN6 3.702660 5.064614 931.302927
IIB-5 303,773.32 6.500000% 055240JP1 3.702664 5.064618 931.303809
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 365,273,659.68 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 266,100,133.48 97,516,243.40 363,616,376.88
Loan count 828 292 1120
Average loan rate 7.427337% 7.025457% 7.32
Prepayment amount 969,740.21 52,220.89 1,021,961.10
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 96,952.70 39,218.34 136,171.05
Monthly sub servicer fees 0.00 0.00 0.00
Monthly trustee fees 1,002.44 367.34 1,369.78
Aggregate advances N/A N/A N/A
Advances this perios 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 3,075,588.84 1,750,035.70 4,825,624.54
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.237872% 100.000000% 347,855,614.12
-----------------------------------------------------------------------------
Junior 4.762128% 0.000000% 17,393,635.94
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 443,658.26
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 443,658.26
- --------------------------------------------------------------------------------
<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 3,745,490.34 3,745,490.34
Principal remittance amount 1,676,056.21 1,676,056.21
Interest remittance amount 2,069,434.14 2,069,434.14
