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): April 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 April 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 April 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: April 25, 2000
BAMS
By: /s/ David Gresser
------------------------------
Name: David Gresser
Assistant Treasurer
The Bank of New York,
as Trustee
<PAGE>
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated April 25, 2000
Payment Date: 04/25/00
------------------------------------------------------------
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 13,783,962.31 6.650000% 376,015.91 76,386.12 452,402.03 0.00 0.00
IA-2 20,595,625.09 6.250000% 747,331.62 107,268.88 854,600.50 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 45,152,417.55 6.500000% 822,534.80 244,575.60 1,067,110.40 0.00 0.00
IA-6 4,031,750.10 6.750000% 0.00 22,678.59 22,678.59 0.00 0.00
IA-7 62,210,382.82 6.628750% 248,589.20 343,647.56 592,236.77 0.00 0.00
IA-8 11,981,258.91 7.119930% 47,876.44 71,088.10 118,964.54 0.00 0.00
IA-9 4,147,358.85 7.500000% 16,572.61 25,920.99 42,493.61 0.00 0.00
IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
IA-11 3,356,158.66 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 25,329,152.83 6.500000% 591,509.69 137,199.58 728,709.27 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 24,213,876.15 6.500000% 96,960.76 131,158.50 228,119.25 0.00 0.00
I-X-1 0.00 0.245697% 0.00 0.00 0.00 0.00 0.00
I-X-2 104,348,042.01 0.245697% 0.00 21,365.02 21,365.02 0.00 0.00
I-X-3 70,972,000.00 0.245697% 0.00 14,531.35 14,531.35 0.00 0.00
I-X-4 73,610,722.13 0.245697% 0.00 15,071.62 15,071.62 0.00 0.00
II-X 848,969.97 6.500000% 0.00 4,598.59 4,598.59 0.00 0.00
I-PO 100,496.63 0.000000% 125.12 0.00 125.12 0.00 0.00
II-PO 240,897.96 0.000000% 1,028.42 0.00 1,028.42 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 6,785,675.51 6.750000% 6,341.77 38,169.42 44,511.20 0.00 0.00
IB-1 3,117,556.80 6.750000% 2,913.61 17,536.26 20,449.87 0.00 0.00
IB-2 1,650,702.58 6.750000% 1,542.72 9,285.20 10,827.92 0.00 0.00
IB-3 1,283,989.02 6.750000% 1,199.99 7,222.44 8,422.43 0.00 0.00
IB-4 917,275.46 6.750000% 857.27 5,159.67 6,016.94 0.00 0.00
IB-5 917,272.52 6.750000% 857.27 5,159.66 6,016.92 0.00 0.00
IIM 1,149,227.81 6.500000% 4,601.91 6,224.98 10,826.89 0.00 0.00
IIB-1 422,811.53 6.500000% 1,693.08 2,290.23 3,983.31 0.00 0.00
IIB-2 302,673.45 6.500000% 1,212.01 1,639.48 2,851.49 0.00 0.00
IIB-3 362,276.84 6.500000% 1,450.68 1,962.33 3,413.02 0.00 0.00
IIB-4 181,604.07 6.500000% 727.21 983.69 1,710.89 0.00 0.00
IIB-5 302,570.36 6.500000% 1,211.60 1,638.92 2,850.52 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 363,616,376.27 - 2,973,153.70 2,059,844.04 5,032,997.75 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior IA-1 13,407,946.40 0.00
IA-2 19,848,293.47 0.00
IA-3 6,800,000.00 0.00
IA-4 23,800,000.00 0.00
IA-5 44,329,882.75 0.00
IA-6 3,940,357.34 0.00
IA-7 61,961,793.61 0.00
IA-8 11,933,382.47 0.00
IA-9 4,130,786.24 0.00
IA-10 0.00 0.00
IA-11 3,375,037.05 0.00
IA-12 59,500,000.00 0.00
IIA-1 24,737,643.14 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 24,116,915.39 0.00
I-X-1 0.00 0.00
I-X-2 102,534,403.33 0.00
I-X-3 70,972,000.00 0.00
I-X-4 73,192,498.91 0.00
II-X 832,073.63 0.00
I-PO 100,371.51 0.00
II-PO 239,869.53 0.00
Residual R-I 0.00 0.00
R-II 0.00 0.00
R-III 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate IM 6,779,333.73 0.00
IB-1 3,114,643.19 0.00
IB-2 1,649,159.86 0.00
IB-3 1,282,789.02 0.00
IB-4 916,418.19 0.00
IB-5 916,415.25 0.00
IIM 1,144,625.90 0.00
IIB-1 421,118.44 0.00
IIB-2 301,461.44 0.00
IIB-3 360,826.16 0.00
IIB-4 180,876.87 0.00
IIB-5 301,358.77 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 360,662,100.96 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/00
------------------------------------------------------------
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 13,783,962.31 6.650000% 055240GY5 23.500994 4.774133 837.996650
IA-2 20,595,625.09 6.250000% 055240GZ2 29.893265 4.290755 793.931739
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 45,152,417.55 6.500000% 055240HC2 16.450696 4.891512 886.597655
IA-6 4,031,750.10 6.750000% 055240HD0 0.000000 4.962092 862.152811
IA-7 62,210,382.82 6.628750% 055240HE8 1.892499 2.616174 471.712486
IA-8 11,981,258.91 7.119930% 055240HF5 1.892499 2.810029 471.712486
IA-9 4,147,358.85 7.500000% 055240HG3 1.892499 2.960031 471.712486
IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000
IA-11 3,356,158.66 6.750000% 055240HJ7 0.000000 0.000000 1,125.012350
IA-12 59,500,000.00 6.750000% 055240HK4 0.000000 5.625000 1,000.000000
IIA-1 25,329,152.83 6.500000% 055240HL2 21.907766 5.081466 916.209005
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 24,213,876.15 6.500000% 055240HR9 3.729260 5.044558 927.573669
I-X-1 0.00 0.245697% 055240HS7 0.000000 0.000000 0.000000
I-X-2 104,348,042.01 0.245697% 055240HT5 0.000000 0.186862 896.781445
I-X-3 70,972,000.00 0.245697% 055240HU2 0.000000 0.204748 1,000.000000
I-X-4 73,610,722.13 0.245697% 055240HV0 0.000000 0.094339 458.138103
II-X 848,969.97 6.500000% 055240HW8 0.000000 3.429642 620.563312
I-PO 100,496.63 0.000000% 055240HX6 1.215729 0.000000 975.276066
II-PO 240,897.96 0.000000% 055240HY4 3.528522 0.000000 822.992979
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 6,785,675.51 6.750000% 055240HZ1 0.918831 5.530198 982.227432
IB-1 3,117,556.80 6.750000% 055240JA4 0.918831 5.530198 982.227432
IB-2 1,650,702.58 6.750000% 055240JB2 0.918831 5.530198 982.227435
IB-3 1,283,989.02 6.750000% 055240JJ5 0.918831 5.530198 982.227429
IB-4 917,275.46 6.750000% 055240JK2 0.918831 5.530198 982.227429
IB-5 917,272.52 6.750000% 055240JL0 0.918831 5.530198 982.227435
IIM 1,149,227.81 6.500000% 055240JC0 3.729260 5.044558 927.573665
IIB-1 422,811.53 6.500000% 055240JD8 3.729260 5.044557 927.573662
IIB-2 302,673.45 6.500000% 055240JE6 3.729260 5.044557 927.573658
IIB-3 362,276.84 6.500000% 055240JM8 3.729260 5.044558 927.573677
IIB-4 181,604.07 6.500000% 055240JN6 3.729260 5.044558 927.573667
IIB-5 302,570.36 6.500000% 055240JP1 3.729263 5.044562 927.574545
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 363,616,376.27 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 263,846,253.53 96,815,848.04 360,662,101.57
loan count 825 292 1117
average loan rate 7.427134% 7.025463% 7.32
prepayment amount 2,005,180.57 309,885.77 2,315,066.34
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
master servicing fees 94,461.68 38,705.05 133,166.73
sub servicer fees 0.00 0.00 0.00
trustee fees 997.88 365.69 1,363.56
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 3,072,105.95 1,743,066.36 4,815,172.31
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.222932% 100.000000% 346,222,740.33
-----------------------------------------------------------------------------
Junior 4.777068% 0.000000% 17,369,026.82
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,032,997.75 5,032,997.75
Principal remittance amount 2,973,153.70 2,973,153.70
Interest remittance amount 2,059,844.04 2,059,844.04
