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): August 25, 2001
BAMS
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5)
(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)
Item 5. Other Events
BAMS
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-5
On August 25, 2001, 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 August 25, 2001 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of May 1, 1999.
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: August 25, 2001
BAMS
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
Payment Date: 08/25/01
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
Bank of America, FSB, Master Servicer
------------------------------------------------------------
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
- ----------------------------------------------------------------------------------------------------------------------------------
Senior A1 129,308,435.24 6.500000% 2,066,473.05 700,420.69 2,766,893.74 0.00 0.00
A2 126,788,442.71 6.500000% 1,644,639.21 686,770.73 2,331,409.94 0.00 0.00
A3 99,459,336.02 6.500000% 1,543,187.55 538,738.07 2,081,925.62 0.00 0.00
A4 60,000,000.00 6.500000% 0.00 325,000.00 325,000.00 0.00 0.00
A5 3,282,000.00 6.750000% 0.00 18,461.25 18,461.25 0.00 0.00
A6 4,224,000.00 6.750000% 0.00 23,760.00 23,760.00 0.00 0.00
A7 1,431,000.00 6.750000% 0.00 8,049.38 8,049.38 0.00 0.00
A8 2,950,000.00 6.750000% 0.00 16,593.75 16,593.75 0.00 0.00
A9 3,113,000.00 6.750000% 0.00 17,510.63 17,510.63 0.00 0.00
A10 3,000,000.00 7.000000% 0.00 17,500.00 17,500.00 0.00 0.00
A11 2,000,000.00 7.000000% 0.00 11,666.67 11,666.67 0.00 0.00
A12 5,000,000.00 5.500000% 0.00 22,916.67 22,916.67 0.00 0.00
A13 3,325,000.00 7.000000% 0.00 19,395.83 19,395.83 0.00 0.00
A14 3,177,667.00 7.000000% 0.00 18,536.39 18,536.39 0.00 0.00
A15 5,000,000.00 6.250000% 0.00 26,041.67 26,041.67 0.00 0.00
A16 5,938,000.00 7.000000% 0.00 34,638.33 34,638.33 0.00 0.00
A17 3,160,000.00 7.000000% 0.00 18,433.33 18,433.33 0.00 0.00
A18 2,513,904.00 7.000000% 0.00 14,664.44 14,664.44 0.00 0.00
A19 1,393,429.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A20 14,175,695.75 6.500000% 67,932.06 76,785.02 144,717.08 0.00 0.00
A21 12,541,304.25 6.500000% 0.00 0.00 0.00 0.00 0.00
A22 100,000.00 6.500000% 0.00 541.67 541.67 0.00 0.00
APO 698,284.04 0.000000% 1,306.91 0.00 1,306.91 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,604,967.73 6.500000% 12,933.66 68,276.91 81,210.57 0.00 0.00
B2 4,396,945.52 6.500000% 4,511.60 23,816.79 28,328.39 0.00 0.00
B3 2,052,493.78 6.500000% 2,106.02 11,117.67 13,223.69 0.00 0.00
B4 2,052,493.78 6.500000% 2,106.02 11,117.67 13,223.69 0.00 0.00
B5 1,172,714.09 6.500000% 1,203.29 6,352.20 7,555.50 0.00 0.00
B6 1,173,050.88 6.500000% 1,203.64 6,354.03 7,557.67 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 516,032,163.78 - 5,347,603.00 2,723,459.78 8,071,062.79 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 127,241,962.19 0.00
A2 125,143,803.49 0.00
A3 97,916,148.48 0.00
A4 60,000,000.00 0.00
A5 3,282,000.00 0.00
A6 4,224,000.00 0.00
A7 1,431,000.00 0.00
A8 2,950,000.00 0.00
A9 3,113,000.00 0.00
A10 3,000,000.00 0.00
A11 2,000,000.00 0.00
A12 5,000,000.00 0.00
A13 3,325,000.00 0.00
A14 3,177,667.00 0.00
A15 5,000,000.00 0.00
A16 5,938,000.00 0.00
A17 3,160,000.00 0.00
A18 2,513,904.00 0.00
A19 1,393,429.00 0.00
A20 14,107,763.68 0.00
A21 12,609,236.32 0.00
A22 100,000.00 0.00
APO 696,977.14 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 12,592,034.07 0.00
B2 4,392,433.91 0.00
B3 2,050,387.76 0.00
B4 2,050,387.76 0.00
B5 1,171,510.80 0.00
B6 1,171,847.24 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 510,752,492.84 -
- --------------------------------------------------------------------------------
Payment Date: 08/25/01
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
Bank of America, FSB, Master Servicer
------------------------------------------------------------
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.
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Senior A1 129,308,435.24 6.500000% 060506DQ2 12.736901 4.317109 784.267809
A2 126,788,442.71 6.500000% 060506DR0 10.749276 4.488698 817.933356
A3 99,459,336.02 6.500000% 060506DS8 12.439644 4.342771 789.302630
A4 60,000,000.00 6.500000% 060506DT6 0.000000 5.416667 1,000.000000
A5 3,282,000.00 6.750000% 060506DU3 0.000000 5.625000 1,000.000000
A6 4,224,000.00 6.750000% 060506DV1 0.000000 5.625000 1,000.000000
A7 1,431,000.00 6.750000% 060506DW9 0.000000 5.625000 1,000.000000
A8 2,950,000.00 6.750000% 060506DX7 0.000000 5.625000 1,000.000000
A9 3,113,000.00 6.750000% 060506DY5 0.000000 5.625000 1,000.000000
A10 3,000,000.00 7.000000% 060506DZ2 0.000000 5.833333 1,000.000000
A11 2,000,000.00 7.000000% 060506EA6 0.000000 5.833333 1,000.000000
A12 5,000,000.00 5.500000% 060506EB4 0.000000 4.583333 1,000.000000
A13 3,325,000.00 7.000000% 060506EC2 0.000000 5.833333 1,000.000000
A14 3,177,667.00 7.000000% 060506ED0 0.000000 5.833333 1,000.000000
A15 5,000,000.00 6.250000% 060506EE8 0.000000 5.208333 1,000.000000
A16 5,938,000.00 7.000000% 060506EF5 0.000000 5.833333 1,000.000000
A17 3,160,000.00 7.000000% 060506EG3 0.000000 5.833333 1,000.000000
A18 2,513,904.00 7.000000% 060506EH1 0.000000 5.833333 1,000.000000
A19 1,393,429.00 0.000000% 060506EJ7 0.000000 0.000000 1,000.000000
A20 14,175,695.75 6.500000% 060506EV0 4.294334 4.853974 891.823989
A21 12,541,304.25 6.500000% 060506EK4 0.000000 0.000000 1,157.022969
A22 100,000.00 6.500000% 060506EL2 0.000000 5.416667 1,000.000000
APO 698,284.04 0.000000% 060506EM0 1.759903 0.000000 938.562075
Residual AR 0.00 6.500000% 060506EN8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,604,967.73 6.500000% 060506EP3 1.001910 5.289094 975.446128
B2 4,396,945.52 6.500000% 060506EQ1 1.001910 5.289094 975.446128
B3 2,052,493.78 6.500000% 060506ER9 1.001910 5.289094 975.446128
B4 2,052,493.78 6.500000% 060506ES7 1.001910 5.289094 975.446128
B5 1,172,714.09 6.500000% 060506ET5 1.001910 5.289094 975.446127
B6 1,173,050.88 6.500000% 060506EU2 1.001974 5.289431 975.508273
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 516,032,163.78 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 510,752,491.45 510,752,491.45
Loan count 1499 1499
Avg loan rate 7.079928% 7.08
Prepay amount 4,750,118.85 4,750,118.85
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 241,629.60 241,629.60
Sub servicer fees 0.00 0.00
Trustee fees 1,505.09 1,505.09
Agg advances N/A N/A
Adv this period 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00
Cumulative losses 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 6,003,829.70 6,003,829.70
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.459645% 100.000000% 492,579,498.01
-----------------------------------------------------------------------------
Junior 4.540355% 0.000000% 23,428,601.55
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 24 7,718,371.74
60 to 89 days 3 1,080,645.03
90 or more 2 1,243,199.64
Foreclosure 2 566,309.31
Totals: 31 10,608,525.72
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 8,071,062.79 8,071,062.79
Principal remittance amount 5,347,603.00 5,347,603.00
Interest remittance amount 2,723,459.78 2,723,459.78