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, 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 April 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 April 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: April 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 April 25, 1999
Payment Date: 04/25/99
------------------------------------------------------------
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-1 165,499,062.06 6.500000% 2,189,004.73 896,453.25 3,085,457.98 0.00 0.00
A-2 66,097,825.61 6.000000% 874,148.61 330,489.13 1,204,637.74 0.00 0.00
A-3 99,537,100.95 6.500000% 1,119,732.27 539,159.30 1,658,891.57 0.00 0.00
A-4 1,790,850.11 6.250000% 305,150.97 9,327.34 314,478.32 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 19,426,567.40 5.437500% 218,537.15 88,026.63 306,563.78 0.00 0.00
A-7 19,426,567.40 3.062500% 0.00 49,578.22 49,578.22 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 5.937500% 0.00 8,040.36 8,040.36 0.00 0.00
A-19 375,000.00 8.937500% 0.00 2,792.97 2,792.97 0.00 0.00
A-20 49,775,674.32 6.400000% 542,633.86 265,470.26 808,104.12 0.00 0.00
A-21 25,662,062.64 7.000000% 261,095.68 149,695.37 410,791.05 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 1,215,648.86 0.000000% 1,218.00 0.00 1,218.00 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 12,891,036.90 6.500000% 10,875.77 69,826.45 80,702.22 0.00 0.00
B-2 4,496,873.80 6.500000% 3,793.87 24,358.07 28,151.94 0.00 0.00
B-3 2,098,541.77 6.500000% 1,770.47 11,367.10 13,137.58 0.00 0.00
B-4 2,098,541.77 6.500000% 1,770.47 11,367.10 13,137.58 0.00 0.00
B-5 1,199,167.01 6.500000% 1,011.70 6,495.49 7,507.19 0.00 0.00
B-6 1,199,274.54 6.500000% 1,011.79 6,496.07 7,507.86 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 597,785,116.76 - 5,531,755.36 3,232,251.29 8,764,006.65 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 163,310,057.33 0.00
A-2 65,223,676.99 0.00
A-3 98,417,368.67 0.00
A-4 1,485,699.14 0.00
A-5 25,000,000.00 0.00
A-6 19,208,030.25 0.00
A-7 19,208,030.25 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 49,233,040.46 0.00
A-21 25,400,966.96 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 1,214,430.87 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,880,161.13 0.00
B-2 4,493,079.93 0.00
B-3 2,096,771.30 0.00
B-4 2,096,771.30 0.00
B-5 1,198,155.31 0.00
B-6 1,198,262.75 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 592,253,361.40 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 04/25/99
------------------------------------------------------------
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-1 165,499,062.06 6.500000% 060506AA0 13.154760 5.387210 981.407041
A-2 66,097,825.61 6.000000% 060506AB8 13.153162 4.972812 981.409301
A-3 99,537,100.95 6.500000% 060506AC6 11.197323 5.391593 984.173687
A-4 1,790,850.11 6.250000% 060506AD4 159.181520 4.865594 775.012593
A-5 25,000,000.00 6.250000% 060506AE4 0.000000 5.208333 1,000.000000
A-6 19,426,567.40 5.437500% 060506AF9 11.197323 4.510275 984.173687
A-7 19,426,567.40 3.062500% 060506AG7 0.000000 2.540270 984.173687
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 5.937500% 060506AT9 0.000000 4.947917 1,000.000000
A-19 375,000.00 8.937500% 060506AU6 0.000000 7.447917 1,000.000000
A-20 49,775,674.32 6.400000% 060506AV4 10.852677 5.309405 984.660809
A-21 25,662,062.64 7.000000% 060506AW2 10.131769 5.808900 985.679742
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 1,215,648.86 0.000000% 060506BA9 1.000915 0.000000 997.986234
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 12,891,036.90 6.500000% 060506BD3 0.842964 5.412140 998.321332
B-2 4,496,873.80 6.500000% 060506BE1 0.842964 5.412140 998.321332
B-3 2,098,541.77 6.500000% 060506BF8 0.842964 5.412140 998.321332
B-4 2,098,541.77 6.500000% 060506BG6 0.842964 5.412140 998.321332
B-5 1,199,167.01 6.500000% 060506BH4 0.842964 5.412140 998.321332
B-6 1,199,274.54 6.500000% 060506BJ0 0.842964 5.412140 998.321332
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 597,785,116.76 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</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 592,253,361.16 592,253,361.16
Aggregated loan count 1773 1773
Aggregated average loan rate 7.083150% 7.08
Aggregated prepayment amount 5,027,293.33 5,027,293.33
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 285,624.27 285,624.27
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,743.54 1,743.54
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 5,977,851.17 5,977,851.17
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.991199% 100.000000% 573,801,680.96
-----------------------------------------------------------------------------
Junior 4.008801% 0.000000% 23,963,201.73
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 445,100.32
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 445,100.32
- --------------------------------------------------------------------------------
<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 8,764,006.65 8,764,006.65
Principal remittance amount 5,531,755.36 5,531,755.36
Interest remittance amount 3,232,251.29 3,232,251.29