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): March 25, 2000
BAMS
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12)
(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 1999-12
On March 25, 2000, The Bank of New York, as Trustee for BAMS, MORTGAGE
PASS-THROUGH CERTIFICATES Series 1999-12, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of November 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 1999-12 relating to the distribution
date of March 25, 2000 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of November 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: March 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 March 25, 2000
Payment Date: 03/25/00
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
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 166,443,034.33 7.500000% 946,804.69 1,040,268.96 1,987,073.66 0.00 0.00
A2 3,092,000.00 7.500000% 0.00 19,325.00 19,325.00 0.00 0.00
A3 2,542,000.00 7.500000% 0.00 15,887.50 15,887.50 0.00 0.00
A4 2,043,000.00 7.500000% 0.00 12,768.75 12,768.75 0.00 0.00
A5 10,000,000.00 7.500000% 0.00 62,500.00 62,500.00 0.00 0.00
A6 22,500,000.00 7.500000% 0.00 140,625.00 140,625.00 0.00 0.00
APO 1,821,180.35 0.000000% 5,053.25 0.00 5,053.25 0.00 0.00
Residual AR 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 5,838,716.53 7.500000% 0.00 26,670.82 26,670.82 0.00 0.00
B2 1,684,456.25 7.500000% 0.00 7,694.47 7,694.47 0.00 0.00
B3 1,010,873.33 7.500000% 0.00 4,617.59 4,617.59 0.00 0.00
B4 674,580.82 7.500000% 0.00 3,081.43 3,081.43 0.00 0.00
B5 450,053.18 7.500000% 0.00 2,055.81 2,055.81 0.00 0.00
B6 449,762.08 7.500000% 0.00 2,054.48 2,054.48 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 218,549,656.87 - 951,857.95 1,337,549.82 2,289,407.76 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 165,496,229.63 0.00
A2 3,092,000.00 0.00
A3 2,542,000.00 0.00
A4 2,043,000.00 0.00
A5 10,000,000.00 0.00
A6 22,500,000.00 0.00
APO 1,816,127.09 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 5,838,716.53 9,821.16
B2 1,684,456.25 2,833.38
B3 1,010,873.33 1,700.37
B4 674,580.82 1,134.70
B5 450,053.18 757.02
B6 449,762.08 756.53
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 217,597,798.92 17,003.16
- --------------------------------------------------------------------------------
</TABLE>
<PAGE>
Payment Date: 03/25/00
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
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 166,443,034.33 7.500000% 060506KM3 5.476658 6.017289 957.289621
A2 3,092,000.00 7.500000% 060506KN1 0.000000 6.250000 1,000.000000
A3 2,542,000.00 7.500000% 060506KP6 0.000000 6.250000 1,000.000000
A4 2,043,000.00 7.500000% 060506KQ4 0.000000 6.250000 1,000.000000
A5 10,000,000.00 7.500000% 060506KR2 0.000000 6.250000 1,000.000000
A6 22,500,000.00 7.500000% 060506KS0 0.000000 6.250000 1,000.000000
APO 1,821,180.35 0.000000% 060506KT8 2.765981 0.000000 994.086940
Residual AR 0.00 7.500000% 060506KU5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 5,838,716.53 7.500000% 060506KV3 0.000000 4.558335 997.900621
B2 1,684,456.25 7.500000% 060506KW1 0.000000 4.558335 997.900621
B3 1,010,873.33 7.500000% 060506KX9 0.000000 4.558335 997.900622
B4 674,580.82 7.500000% 060506KY7 0.000000 4.558335 997.900625
B5 450,053.18 7.500000% 060506KZ4 0.000000 4.558335 997.900627
B6 449,762.08 7.500000% 060506LA8 0.000000 4.558335 997.900613
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 218,549,656.87 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Aggregated stated principal balance 217,590,704.21 217,590,704.21
Aggregated loan count 598 598
Aggregated average loan rate 7.962335% 7.96
Aggregated prepayment amount 802,494.99 802,494.99
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Monthly master servicing fees 93,276.90 93,276.90
Monthly sub servicer fees 24,098.59 24,098.59
Monthly trustee fees 819.56 819.56
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 4,500,274.76 4,500,274.76
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.374762% 100.000000% 208,441,214.67
-----------------------------------------------------------------------------
Junior 4.625238% 0.000000% 10,108,442.20
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 2,289,407.76 2,289,407.76
Principal remittance amount 951,857.95 951,857.95
Interest remittance amount 1,337,549.82 1,337,549.82
