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): September 25, 2001
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)
Item 5. Other Events
BAMS
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-12
On September 25, 2001, 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 September 25, 2001 prepared by The Bank of New York,
as Trustee under the Pooling and Servicing Agreement dated
as of November 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: September 25, 2001
BAMS
By: /s/ Courtney Bartholomew
------------------------------
Name: Courtney Bartholomew
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
Payment Date: 09/25/01
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
Bank of America, N.A., 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 98,816,978.93 7.500000% 7,325,272.41 617,606.12 7,942,878.53 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 1,649,958.96 0.000000% 46,052.86 0.00 46,052.86 0.00 0.00
Residual AR 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00
----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 5,755,157.60 7.500000% 5,219.54 35,969.74 41,189.28 0.00 0.00
B2 1,660,349.69 7.500000% 1,505.83 10,377.19 11,883.01 0.00 0.00
B3 996,406.54 7.500000% 903.67 6,227.54 7,131.21 0.00 0.00
B4 664,926.77 7.500000% 603.04 4,155.79 4,758.84 0.00 0.00
B5 443,612.69 7.500000% 402.33 2,772.58 3,174.91 0.00 0.00
B6 270,030.11 7.500000% 0.01 1,687.69 1,687.70 0.00 0.00
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Totals - - 150,434,421.31 - 7,379,959.69 929,902.89 8,309,862.58 - -
----------------------------------------------------------------------------------------------------------------------------------
Class Information
--------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
--------------------------------------------------------------------------------
Senior A1 91,491,706.52 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 1,603,906.10 0.00
Residual AR 0.00 0.00
--------------------------------------------------------------------------------
Subordinate B1 5,749,938.06 0.00
B2 1,658,843.87 0.00
B3 995,502.87 0.00
B4 664,323.73 0.00
B5 443,210.37 0.00
B6 270,030.11 0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Totals - - 143,054,461.62 -
--------------------------------------------------------------------------------
Payment Date: 09/25/01
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
Bank of America, N.A., 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 98,816,978.93 7.500000% 060506KM3 42.372006 3.572456 529.220885
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 1,649,958.96 0.000000% 060506KT8 25.207789 0.000000 877.924298
Residual AR 0.00 7.500000% 060506KU5 0.000000 0.000000 0.000000
------------------------------------------------------------------------------------------------------------------------
Subordinate B1 5,755,157.60 7.500000% 060506KV3 0.892077 6.147622 982.727408
B2 1,660,349.69 7.500000% 060506KW1 0.892077 6.147622 982.727408
B3 996,406.54 7.500000% 060506KX9 0.892077 6.147622 982.727409
B4 664,926.77 7.500000% 060506KY7 0.892077 6.147622 982.727412
B5 443,612.69 7.500000% 060506KZ4 0.892077 6.147626 982.728086
B6 270,030.11 7.500000% 060506LA8 0.000015 3.744524 599.123899
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
Totals - - 150,434,421.31 - - - - -
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-12
Bank of America, N.A., Master Servicer
------------------------------------------------------------
--------------------------------------------------------------------------------
COLLATERAL INFORMATION
--------------------------------------------------------------------------------
Total
-----
Prin balance 143,054,461.62 143,054,461.62
Loan count 396 396
Avg loan rate 7.893092% 7.89
Prepay amount 7,247,109.21 7,247,109.21
--------------------------------------------------------------------------------
FEES AND ADVANCES
--------------------------------------------------------------------------------
Total
-----
Master serv fees 44,576.05 44,576.05
Sub servicer fees 0.00 0.00
Trustee fees 564.13 564.13
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 174,481.18 174,481.18
Coverage Amounts Total
---------------- -----
Bankruptcy 0.00 0.00
Fraud 2,250,137.38 2,250,137.38
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.497226% 100.000000% 140,643,937.89
-----------------------------------------------------------------------------
Junior 6.502774% 0.000000% 9,781,849.00
-----------------------------------------------------------------------------
--------------------------------------------------------------------------------
DELINQUENCY INFORMATION
--------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
------ ---------- ---------------------
30 to 59 days 5 1,568,984.82
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 1 277,703.96
Totals: 6 1,846,688.78
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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 8,309,862.58 8,309,862.58
Principal remittance amount 7,379,959.69 7,379,959.69
Interest remittance amount 929,902.89 929,902.89