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): May 25, 1999
BAMS
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-1)
(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 1999-1
On May 25, 1999, The Bank of New York, as Trustee for BAMS, Mortgage
Pass-Through Certificates Series 1999-1, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of February 1, 1999, 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 1999-1 relating to the distribution date
of May 25, 1999 prepared by The Bank of New York, as Trustee
under the Pooling and Servicing Agreement dated as of
February 1, 1999.
<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: May 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 May 25, 1999
Payment Date: 05/25/99
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
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 A-1 163,310,057.33 6.500000% 829,599.84 884,596.14 1,714,195.99 0.00 0.00
A-2 65,223,676.99 6.000000% 331,289.17 326,118.38 657,407.55 0.00 0.00
A-3 98,417,368.67 6.500000% 424,361.68 533,094.08 957,455.76 0.00 0.00
A-4 1,485,699.14 6.250000% 115,647.63 7,738.02 123,385.64 0.00 0.00
A-5 25,000,000.00 6.250000% 0.00 130,208.33 130,208.33 0.00 0.00
A-6 19,208,030.25 5.402500% 82,822.29 86,476.15 169,298.44 0.00 0.00
A-7 19,208,030.25 3.097500% 0.00 49,580.73 49,580.73 0.00 0.00
A-8 7,068,000.00 6.500000% 0.00 38,285.00 38,285.00 0.00 0.00
A-9 3,556,666.00 6.400000% 0.00 18,968.89 18,968.89 0.00 0.00
A-10 17,755,000.00 6.500000% 0.00 96,172.92 96,172.92 0.00 0.00
A-11 4,843,000.00 6.500000% 0.00 26,232.92 26,232.92 0.00 0.00
A-12 2,183,000.00 6.500000% 0.00 11,824.58 11,824.58 0.00 0.00
A-13 1,136,000.00 6.500000% 0.00 6,153.33 6,153.33 0.00 0.00
A-14 1,578,000.00 6.500000% 0.00 8,547.50 8,547.50 0.00 0.00
A-15 1,868,444.00 6.500000% 0.00 10,120.74 10,120.74 0.00 0.00
A-16 2,000,000.00 6.500000% 0.00 10,833.33 10,833.33 0.00 0.00
A-17 1,000,000.00 0.000000% 0.00 6,250.00 6,250.00 0.00 0.00
A-18 1,625,000.00 5.902500% 0.00 7,992.97 7,992.97 0.00 0.00
A-19 375,000.00 9.089167% 0.00 2,840.36 2,840.36 0.00 0.00
A-20 49,233,040.46 6.400000% 205,650.07 262,576.22 468,226.28 0.00 0.00
A-21 25,400,966.96 7.000000% 98,951.33 148,172.31 247,123.64 0.00 0.00
A-22 11,608,445.00 6.000000% 0.00 58,042.22 58,042.22 0.00 0.00
A-23 3,200,334.00 6.250000% 0.00 16,668.41 16,668.41 0.00 0.00
A-24 60,000,000.00 6.500000% 0.00 325,000.00 325,000.00 0.00 0.00
A-PO 1,214,430.87 0.000000% 1,252.71 0.00 1,252.71 0.00 0.00
Residual A-R 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 12,880,161.13 6.500000% 11,012.96 69,767.54 80,780.50 0.00 0.00
B-2 4,493,079.93 6.500000% 3,841.73 24,337.52 28,179.25 0.00 0.00
B-3 2,096,771.30 6.500000% 1,792.81 11,357.51 13,150.32 0.00 0.00
B-4 2,096,771.30 6.500000% 1,792.81 11,357.51 13,150.32 0.00 0.00
B-5 1,198,155.31 6.500000% 1,024.46 6,490.01 7,514.47 0.00 0.00
B-6 1,198,262.75 6.500000% 1,024.55 6,490.59 7,515.14 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 592,253,361.40 - 2,110,064.03 3,202,294.21 5,312,358.24 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 162,480,457.48 0.00
A-2 64,892,387.83 0.00
A-3 97,993,007.00 0.00
A-4 1,370,051.51 0.00
A-5 25,000,000.00 0.00
A-6 19,125,207.96 0.00
A-7 19,125,207.96 0.00
A-8 7,068,000.00 0.00
A-9 3,556,666.00 0.00
A-10 17,755,000.00 0.00
A-11 4,843,000.00 0.00
A-12 2,183,000.00 0.00
A-13 1,136,000.00 0.00
A-14 1,578,000.00 0.00
A-15 1,868,444.00 0.00
A-16 2,000,000.00 0.00
A-17 1,000,000.00 0.00
A-18 1,625,000.00 0.00
A-19 375,000.00 0.00
A-20 49,027,390.39 0.00
A-21 25,302,015.63 0.00
A-22 11,608,445.00 0.00
A-23 3,200,334.00 0.00
A-24 60,000,000.00 0.00
A-PO 1,213,178.16 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,869,148.17 0.00
B-2 4,489,238.20 0.00
B-3 2,094,978.49 0.00
B-4 2,094,978.49 0.00
B-5 1,197,130.85 0.00
B-6 1,197,238.20 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 590,143,297.37 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 05/25/99
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
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 A-1 163,310,057.33 6.500000% 060506AA0 4.985456 5.315955 976.421585
A-2 65,223,676.99 6.000000% 060506AB8 4.984850 4.907047 976.424450
A-3 98,417,368.67 6.500000% 060506AC6 4.243617 5.330941 979.930070
A-4 1,485,699.14 6.250000% 060506AD4 60.327400 4.036524 714.685193
A-5 25,000,000.00 6.250000% 060506AE4 0.000000 5.208333 1,000.000000
A-6 19,208,030.25 5.402500% 060506AF9 4.243617 4.430832 979.930070
A-7 19,208,030.25 3.097500% 060506AG7 0.000000 2.540398 979.930070
A-8 7,068,000.00 6.500000% 060506AH5 0.000000 5.416667 1,000.000000
A-9 3,556,666.00 6.400000% 060506AJ1 0.000000 5.333333 1,000.000000
A-10 17,755,000.00 6.500000% 060506AK8 0.000000 5.416667 1,000.000000
A-11 4,843,000.00 6.500000% 060506AL6 0.000000 5.416667 1,000.000000
A-12 2,183,000.00 6.500000% 060506AM4 0.000000 5.416667 1,000.000000
A-13 1,136,000.00 6.500000% 060506AN2 0.000000 5.416667 1,000.000000
A-14 1,578,000.00 6.500000% 060506AP7 0.000000 5.416667 1,000.000000
A-15 1,868,444.00 6.500000% 060506AQ5 0.000000 5.416667 1,000.000000
A-16 2,000,000.00 6.500000% 060506AR3 0.000000 5.416667 1,000.000000
A-17 1,000,000.00 0.000000% 060506AS1 0.000000 6.250000 1,000.000000
A-18 1,625,000.00 5.902500% 060506AT9 0.000000 4.918750 1,000.000000
A-19 375,000.00 9.089167% 060506AU6 0.000000 7.574306 1,000.000000
A-20 49,233,040.46 6.400000% 060506AV4 4.113001 5.251524 980.547808
A-21 25,400,966.96 7.000000% 060506AW2 3.839788 5.749798 981.839954
A-22 11,608,445.00 6.000000% 060506AX0 0.000000 5.000000 1,000.000000
A-23 3,200,334.00 6.250000% 060506AY8 0.000000 5.208333 1,000.000000
A-24 60,000,000.00 6.500000% 060506AZ5 0.000000 5.416667 1,000.000000
A-PO 1,214,430.87 0.000000% 060506BA9 1.029439 0.000000 996.956795
Residual A-R 0.00 6.500000% 060506BB7 0.000000 0.000000 0.000000
A-LR 0.00 6.500000% 060506BC5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 12,880,161.13 6.500000% 060506BD3 0.853597 5.407574 997.467735
B-2 4,493,079.93 6.500000% 060506BE1 0.853597 5.407574 997.467735
B-3 2,096,771.30 6.500000% 060506BF8 0.853597 5.407574 997.467735
B-4 2,096,771.30 6.500000% 060506BG6 0.853597 5.407574 997.467735
B-5 1,198,155.31 6.500000% 060506BH4 0.853597 5.407574 997.467735
B-6 1,198,262.75 6.500000% 060506BJ0 0.853597 5.407574 997.467735
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 592,253,361.40 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 590,143,297.13 590,143,297.13
Aggregated loan count 1762 1762
Aggregated average loan rate 7.078104% 7.08
Aggregated prepayment amount 1,603,549.83 1,603,549.83
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 287,212.54 287,212.54
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,727.41 1,727.41
Aggregate advances N/A N/A
Advances this periods 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Net realized losses (this period) 0.00 0.00
Cumulative losses (from Cut-Off) 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 6,000,846.00 6,000,846.00
Special Hazard 5,922,533.61 5,922,533.61
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.957213% 100.000000% 568,290,159.67
-----------------------------------------------------------------------------
Junior 4.042787% 0.000000% 23,942,712.40
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 5,312,358.24 5,312,358.24
Principal remittance amount 2,110,064.03 2,110,064.03
Interest remittance amount 3,202,294.21 3,202,294.21