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 1999-5)
(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 1999-5
On February 25, 2000, The Bank of New York, as Trustee for BAMS, MORTGAGE
PASS-THROUGH CERTIFICATES Series 1999-5, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of May 1, 1999, among BAMS as Depositor, BANK OF
AMERICA 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 1999-5 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 May 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: 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
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
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 A1 153,601,926.36 6.500000% 838,255.34 831,931.88 1,670,187.21 0.00 78.56
A2 146,122,848.34 6.500000% 667,140.37 791,424.03 1,458,564.40 0.00 74.73
A3 117,601,074.20 6.500000% 625,986.97 636,945.67 1,262,932.64 0.00 60.14
A4 60,000,000.00 6.500000% 0.00 324,969.31 324,969.31 0.00 30.69
A5 3,282,000.00 6.750000% 0.00 18,459.51 18,459.51 0.00 1.74
A6 4,224,000.00 6.750000% 0.00 23,757.76 23,757.76 0.00 2.24
A7 1,431,000.00 6.750000% 0.00 8,048.62 8,048.62 0.00 0.76
A8 2,950,000.00 6.750000% 0.00 16,592.18 16,592.18 0.00 1.57
A9 3,113,000.00 6.750000% 0.00 17,508.97 17,508.97 0.00 1.65
A10 3,000,000.00 7.000000% 0.00 17,498.35 17,498.35 0.00 1.65
A11 2,000,000.00 7.000000% 0.00 11,665.57 11,665.57 0.00 1.10
A12 5,000,000.00 5.500000% 0.00 22,914.50 22,914.50 0.00 2.16
A13 3,325,000.00 7.000000% 0.00 19,394.00 19,394.00 0.00 1.83
A14 3,177,667.00 7.000000% 0.00 18,534.64 18,534.64 0.00 1.75
A15 5,000,000.00 6.250000% 0.00 26,039.21 26,039.21 0.00 2.46
A16 5,938,000.00 7.000000% 0.00 34,635.06 34,635.06 0.00 3.27
A17 3,160,000.00 7.000000% 0.00 18,431.59 18,431.59 0.00 1.74
A18 2,513,904.00 7.000000% 0.00 14,663.06 14,663.06 0.00 1.38
A19 1,393,429.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A20 15,337,748.33 6.500000% 61,631.79 83,071.63 144,703.42 0.00 7.84
A21 11,379,251.67 6.500000% 0.00 0.00 0.00 0.00 5.82
A22 100,000.00 6.500000% 0.00 541.62 541.62 0.00 0.05
APO 735,751.02 0.000000% 872.07 0.00 872.07 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,821,874.94 6.500000% 11,281.46 69,445.27 80,726.73 0.00 6.56
B2 4,472,608.48 6.500000% 3,935.27 24,224.34 28,159.61 0.00 2.29
B3 2,087,813.24 6.500000% 1,836.98 11,307.92 13,144.90 0.00 1.07
B4 2,087,813.24 6.500000% 1,836.98 11,307.92 13,144.90 0.00 1.07
B5 1,192,894.24 6.500000% 1,049.58 6,460.90 7,510.48 0.00 0.61
B6 1,193,160.81 6.500000% 1,049.82 6,462.34 7,512.16 0.00 0.61
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 578,242,764.87 - 2,214,876.63 3,066,235.85 5,281,112.48 - 295.35
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 152,763,671.02 78.56
A2 145,455,707.97 74.73
A3 116,975,087.24 60.14
A4 60,000,000.00 30.69
A5 3,282,000.00 1.74
A6 4,224,000.00 2.24
A7 1,431,000.00 0.76
A8 2,950,000.00 1.57
A9 3,113,000.00 1.65
A10 3,000,000.00 1.65
A11 2,000,000.00 1.10
A12 5,000,000.00 2.16
A13 3,325,000.00 1.83
A14 3,177,667.00 1.75
A15 5,000,000.00 2.46
A16 5,938,000.00 3.27
A17 3,160,000.00 1.74
A18 2,513,904.00 1.38
A19 1,393,429.00 0.00
A20 15,276,116.53 7.84
A21 11,440,883.47 5.82
A22 100,000.00 0.05
APO 734,878.95 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 12,810,593.48 6.56
B2 4,468,673.21 2.29
B3 2,085,976.26 1.07
B4 2,085,976.26 1.07
B5 1,191,844.66 0.61
B6 1,192,111.00 0.61
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 576,089,520.04 295.35
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 02/25/00
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
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 A1 153,601,926.36 6.500000% 060506DQ2 5.166666 5.127690 941.573264
A2 146,122,848.34 6.500000% 060506DR0 4.360395 5.172706 950.690902
A3 117,601,074.20 6.500000% 060506DS8 5.046085 5.134423 942.936844
A4 60,000,000.00 6.500000% 060506DT6 0.000000 5.416155 1,000.000000
A5 3,282,000.00 6.750000% 060506DU3 0.000000 5.624469 1,000.000000
A6 4,224,000.00 6.750000% 060506DV1 0.000000 5.624469 1,000.000000
A7 1,431,000.00 6.750000% 060506DW9 0.000000 5.624469 1,000.000000
A8 2,950,000.00 6.750000% 060506DX7 0.000000 5.624469 1,000.000000
A9 3,113,000.00 6.750000% 060506DY5 0.000000 5.624469 1,000.000000
A10 3,000,000.00 7.000000% 060506DZ2 0.000000 5.832783 1,000.000000
A11 2,000,000.00 7.000000% 060506EA6 0.000000 5.832783 1,000.000000
A12 5,000,000.00 5.500000% 060506EB4 0.000000 4.582901 1,000.000000
A13 3,325,000.00 7.000000% 060506EC2 0.000000 5.832783 1,000.000000
A14 3,177,667.00 7.000000% 060506ED0 0.000000 5.832783 1,000.000000
A15 5,000,000.00 6.250000% 060506EE8 0.000000 5.207842 1,000.000000
A16 5,938,000.00 7.000000% 060506EF5 0.000000 5.832783 1,000.000000
A17 3,160,000.00 7.000000% 060506EG3 0.000000 5.832783 1,000.000000
A18 2,513,904.00 7.000000% 060506EH1 0.000000 5.832783 1,000.000000
A19 1,393,429.00 0.000000% 060506EJ7 0.000000 0.000000 1,000.000000
A20 15,337,748.33 6.500000% 060506EV0 3.896061 5.251383 965.681556
A21 11,379,251.67 6.500000% 060506EK4 0.000000 0.000000 1,049.814963
A22 100,000.00 6.500000% 060506EL2 0.000000 5.416155 1,000.000000
APO 735,751.02 0.000000% 060506EM0 1.174344 0.000000 989.601344
Residual AR 0.00 6.500000% 060506EN8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,821,874.94 6.500000% 060506EP3 0.873922 5.379601 992.376906
B2 4,472,608.48 6.500000% 060506EQ1 0.873922 5.379601 992.376906
B3 2,087,813.24 6.500000% 060506ER9 0.873922 5.379601 992.376906
B4 2,087,813.24 6.500000% 060506ES7 0.873922 5.379601 992.376906
B5 1,192,894.24 6.500000% 060506ET5 0.873922 5.379601 992.376906
B6 1,193,160.81 6.500000% 060506EU2 0.873922 5.379601 992.376906
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 578,242,764.87 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 576,089,519.38 576,089,519.38
Aggregated loan count 1673 1673
Aggregated average loan rate 7.089472% 7.09
Aggregated prepayment amount 1,644,403.89 1,644,403.89
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 282,674.54 282,674.54
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,686.54 1,686.54
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 12,007,659.40 12,007,659.40
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.877849% 100.000000% 554,386,599.91
-----------------------------------------------------------------------------
Junior 4.122151% 0.000000% 23,835,174.86
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 245,645.74
60 to 89 days 1 318,588.09
90 or more 1 315,216.22
Foreclosure 0 0.00
Totals: 3 879,450.05
- --------------------------------------------------------------------------------
<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 5,281,112.48 5,281,112.48
Principal remittance amount 2,214,876.63 2,214,876.63
Interest remittance amount 3,066,235.85 3,066,235.85
