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): October 25, 1999
BAMS
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-11)
(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 1999-11
On October 25, 1999, The Bank of New York, as Trustee for BAMS, MORTGAGE
PASS-THROUGH CERTIFICATES Series 1999-11, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of September 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 1999-11 relating to the distribution
date of October 25, 1999 prepared by The Bank of New York,
as Trustee under the Pooling and Servicing Agreement dated
as of September 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: October 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 October 25, 1999
Payment Date: 10/25/99
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-11
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 102,246,000.00 7.250000% 790,038.85 617,736.25 1,407,775.10 0.00 0.00
A2 10,000,000.00 7.250000% 67,395.21 60,416.67 127,811.87 0.00 0.00
A3 14,978,780.00 7.250000% 0.00 90,496.80 90,496.80 0.00 0.00
A4 13,004,000.00 7.250000% 0.00 78,565.83 78,565.83 0.00 0.00
A5 21,200,000.00 7.250000% 0.00 128,083.33 128,083.33 0.00 0.00
A6 98,531,000.00 7.250000% 712,479.38 595,291.46 1,307,770.84 0.00 0.00
A7 10,111,000.00 7.250000% 58,291.33 61,087.29 119,378.62 0.00 0.00
A8 10,848,000.00 7.250000% 0.00 65,540.00 65,540.00 0.00 0.00
A9 9,648,220.00 7.250000% 0.00 0.00 0.00 0.00 0.00
A10 5,000,000.00 7.250000% 0.00 30,208.33 30,208.33 0.00 0.00
A11 35,000,000.00 7.250000% 0.00 211,458.33 211,458.33 0.00 0.00
APO 3,691,389.75 0.000000% 3,127.09 0.00 3,127.09 0.00 0.00
Residual AR 100.00 7.250000% 100.00 0.60 100.60 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,301,000.00 7.250000% 6,808.99 56,193.54 63,002.53 0.00 0.00
B2 2,626,000.00 7.250000% 1,922.42 15,865.42 17,787.83 0.00 0.00
B3 1,401,000.00 7.250000% 1,025.63 8,464.38 9,490.01 0.00 0.00
B4 1,051,000.00 7.250000% 769.41 6,349.79 7,119.20 0.00 0.00
B5 701,000.00 7.250000% 513.18 4,235.21 4,748.39 0.00 0.00
B6 700,353.28 7.250000% 512.71 4,231.30 4,744.01 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 350,038,843.03 - 1,642,984.19 2,034,224.53 3,677,208.73 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 101,455,961.15 0.00
A2 9,932,604.79 0.00
A3 14,978,780.00 0.00
A4 13,004,000.00 0.00
A5 21,200,000.00 0.00
A6 97,818,520.62 0.00
A7 10,052,708.67 0.00
A8 10,848,000.00 0.00
A9 9,706,511.33 0.00
A10 5,000,000.00 0.00
A11 35,000,000.00 0.00
APO 3,688,262.66 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 9,294,191.01 0.00
B2 2,624,077.58 0.00
B3 1,399,974.37 0.00
B4 1,050,230.59 0.00
B5 700,486.82 0.00
B6 699,840.57 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 348,454,150.17 -
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 10/25/99
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-11
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 102,246,000.00 7.250000% 060506JS2 7.726844 6.041667 992.273156
A2 10,000,000.00 7.250000% 060506JT0 6.739521 6.041667 993.260479
A3 14,978,780.00 7.250000% 060506JU7 0.000000 6.041667 1,000.000000
A4 13,004,000.00 7.250000% 060506JV5 0.000000 6.041667 1,000.000000
A5 21,200,000.00 7.250000% 060506JW3 0.000000 6.041667 1,000.000000
A6 98,531,000.00 7.250000% 060506JX1 7.231017 6.041667 992.768983
A7 10,111,000.00 7.250000% 060506JY9 5.765140 6.041667 994.234860
A8 10,848,000.00 7.250000% 060506JZ6 0.000000 6.041667 1,000.000000
A9 9,648,220.00 7.250000% 060506KA3 0.000000 0.000000 1,006.041667
A10 5,000,000.00 7.250000% 060506KB7 0.000000 6.041667 1,000.000000
A11 35,000,000.00 7.250000% 060506KC5 0.000000 6.041667 1,000.000000
APO 3,691,389.75 0.000000% 060506KD3 0.847130 0.000000 999.152870
Residual AR 100.00 7.250000% 060506KE1 1,000.000000 6.041667 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,301,000.00 7.250000% 060506KF8 0.732071 6.041667 999.267929
B2 2,626,000.00 7.250000% 060506KG6 0.732071 6.041667 999.267929
B3 1,401,000.00 7.250000% 060506KH4 0.732071 6.041667 999.267929
B4 1,051,000.00 7.250000% 060506KJ0 0.732071 6.041667 999.267929
B5 701,000.00 7.250000% 060506KK7 0.732071 6.041667 999.267929
B6 700,353.28 7.250000% 060506KL5 0.732071 6.041667 999.267929
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 350,038,843.03 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-11
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 348,454,150.14 348,454,150.14
Aggregated loan count 1021 1021
Aggregated average loan rate 7.654689% 7.65
Aggregated prepayment amount 1,328,120.18 1,328,120.18
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 139,182.87 139,182.87
Monthly sub servicer fees 0.00 0.00
Monthly trustee fees 1,166.80 1,166.80
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 7,000,776.86 7,000,776.86
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.494980% 100.000000% 334,258,489.75
-----------------------------------------------------------------------------
Junior 4.505020% 0.000000% 15,768,800.95
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 3,677,208.73 3,677,208.73
Principal remittance amount 1,642,984.19 1,642,984.19
Interest remittance amount 2,034,224.53 2,034,224.53
