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): May 25, 2002
BOA
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-1)
(Exact name of registrant as specified in charter)
North Carolina 33-63714 13-078651
(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
BOA
Mortgage Pass-Through Certificates
Series 1999-1
On May 25, 2002, The Bank of New York, as Trustee for BOA, Mortgage Pass-Through
Certificates Series 1999-1, made a monthly distribution to Certificate holders
of principal and/or interest pursuant to the Pooling and Servicing Agreement,
dated as of February 1, 1999, among BOA 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 BOA, Mortgage Pass-Through Certificates
Series 1999-1 relating to the distribution date of May 25,
2002 prepared by The Bank of New York, as Trustee under the
Pooling and Servicing Agreement dated as of February 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: May 25, 2002
BOA
By: /s/ Diane Pickett
------------------------------
Name: Diane Pickett
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated May 25, 2002
Payment Date: 05/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
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 A-1 81,554,519.72 6.500000% 3,021,527.53 441,753.65 3,463,281.18 0.00 0.00
A-2 32,575,739.33 6.000000% 1,206,605.03 162,878.70 1,369,483.72 0.00 0.00
A-3 56,597,306.52 6.500000% 1,545,589.12 306,568.74 1,852,157.86 0.00 0.00
A-4 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-5 15,088,838.45 6.250000% 421,206.07 78,587.70 499,793.77 0.00 0.00
A-6 11,046,045.94 2.350000% 301,651.25 21,631.84 323,283.09 0.00 0.00
A-7 11,046,045.94 6.150000% 0.00 56,610.99 56,610.99 0.00 0.00
A-8 7,068,000.00 6.500000% 0.00 38,285.00 38,285.00 0.00 0.00
A-9 3,556,666.00 6.400000% 0.00 18,968.89 18,968.89 0.00 0.00
A-10 17,755,000.00 6.500000% 0.00 96,172.92 96,172.92 0.00 0.00
A-11 4,843,000.00 6.500000% 0.00 26,232.92 26,232.92 0.00 0.00
A-12 2,183,000.00 6.500000% 0.00 11,824.58 11,824.58 0.00 0.00
A-13 1,136,000.00 6.500000% 0.00 6,153.33 6,153.33 0.00 0.00
A-14 1,578,000.00 6.500000% 0.00 8,547.50 8,547.50 0.00 0.00
A-15 1,868,444.00 6.500000% 0.00 10,120.74 10,120.74 0.00 0.00
A-16 2,000,000.00 6.500000% 0.00 10,833.33 10,833.33 0.00 0.00
A-17 1,000,000.00 6.500000% 0.00 5,416.67 5,416.67 0.00 0.00
A-18 1,625,000.00 2.850000% 0.00 3,859.38 3,859.38 0.00 0.00
A-19 375,000.00 22.316667% 0.00 6,973.96 6,973.96 0.00 0.00
A-20 28,966,605.00 6.400000% 749,008.50 154,488.56 903,497.06 0.00 0.00
A-21 15,649,495.18 7.000000% 360,395.65 91,288.72 451,684.38 0.00 0.00
A-22 11,608,445.00 6.000000% 0.00 58,042.23 58,042.23 0.00 0.00
A-23 3,200,334.00 6.250000% 0.00 16,668.41 16,668.41 0.00 0.00
A-24 60,000,000.00 6.500000% 0.00 325,000.00 325,000.00 0.00 0.00
A-PO 950,240.09 0.000000% 15,390.59 0.00 15,390.59 0.00 0.00
Residual A-R 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 12,427,526.01 6.500000% 14,270.26 67,315.77 81,586.03 0.00 0.00
B-2 4,335,183.94 6.500000% 4,978.00 23,482.25 28,460.24 0.00 0.00
B-3 2,023,086.48 6.500000% 2,323.07 10,958.39 13,281.45 0.00 0.00
B-4 2,023,086.48 6.500000% 2,323.07 10,958.39 13,281.45 0.00 0.00
B-5 1,156,049.70 6.500000% 1,327.47 6,261.94 7,589.40 0.00 0.00
B-6 895,859.86 6.500000% 1,028.52 4,852.57 5,881.09 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 385,086,471.70 - 7,647,624.12 2,080,738.03 9,728,362.15 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 78,532,992.19 0.00
A-2 31,369,134.31 0.00
A-3 55,051,717.40 0.00
A-4 0.00 0.00
A-5 14,667,632.39 0.00
A-6 10,744,394.69 0.00
A-7 10,744,394.69 0.00
A-8 7,068,000.00 0.00
A-9 3,556,666.00 0.00
A-10 17,755,000.00 0.00
A-11 4,843,000.00 0.00
A-12 2,183,000.00 0.00
A-13 1,136,000.00 0.00
A-14 1,578,000.00 0.00
A-15 1,868,444.00 0.00
A-16 2,000,000.00 0.00
A-17 1,000,000.00 0.00
A-18 1,625,000.00 0.00
A-19 375,000.00 0.00
A-20 28,217,596.50 0.00
A-21 15,289,099.52 0.00
A-22 11,608,445.00 0.00
A-23 3,200,334.00 0.00
A-24 60,000,000.00 0.00
A-PO 934,849.50 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,413,255.75 0.00
B-2 4,330,205.94 0.00
B-3 2,020,763.41 0.00
B-4 2,020,763.41 0.00
B-5 1,154,722.23 0.00
B-6 894,831.34 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 377,438,847.58 -
- --------------------------------------------------------------------------------
Payment Date: 05/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
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 A-1 81,554,519.72 6.500000% 060506AA0 18.157782 2.654706 471.941733
A-2 32,575,739.33 6.000000% 060506AB8 18.155576 2.450807 472.005897
A-3 56,597,306.52 6.500000% 060506AC6 15.455891 3.065687 550.517174
A-4 0.00 6.250000% 060506AD4 0.000000 0.000000 0.000000
A-5 15,088,838.45 6.250000% 060506AE2 16.848243 3.143508 586.705295
A-6 11,046,045.94 2.350000% 060506AF9 15.455891 1.108364 550.517174
A-7 11,046,045.94 6.150000% 060506AG7 0.000000 2.900612 550.517174
A-8 7,068,000.00 6.500000% 060506AH5 0.000000 5.416667 1,000.000000
A-9 3,556,666.00 6.400000% 060506AJ1 0.000000 5.333333 1,000.000000
A-10 17,755,000.00 6.500000% 060506AK8 0.000000 5.416667 1,000.000000
A-11 4,843,000.00 6.500000% 060506AL6 0.000000 5.416667 1,000.000000
A-12 2,183,000.00 6.500000% 060506AM4 0.000000 5.416667 1,000.000000
A-13 1,136,000.00 6.500000% 060506AN2 0.000000 5.416667 1,000.000000
A-14 1,578,000.00 6.500000% 060506AP7 0.000000 5.416667 1,000.000000
A-15 1,868,444.00 6.500000% 060506AQ5 0.000000 5.416667 1,000.000000
A-16 2,000,000.00 6.500000% 060506AR3 0.000000 5.416667 1,000.000000
A-17 1,000,000.00 6.500000% 060506AS1 0.000000 5.416667 1,000.000000
A-18 1,625,000.00 2.850000% 060506AT9 0.000000 2.375000 1,000.000000
A-19 375,000.00 22.316667% 060506AU6 0.000000 18.597222 1,000.000000
A-20 28,966,605.00 6.400000% 060506AV4 14.980170 3.089771 564.351930
A-21 15,649,495.18 7.000000% 060506AW2 13.985086 3.542442 593.290630
A-22 11,608,445.00 6.000000% 060506AX0 0.000000 5.000000 1,000.000000
A-23 3,200,334.00 6.250000% 060506AY8 0.000000 5.208333 1,000.000000
A-24 60,000,000.00 6.500000% 060506AZ5 0.000000 5.416667 1,000.000000
A-PO 950,240.09 0.000000% 060506BA9 12.647573 0.000000 768.234117
Residual A-R 0.00 6.500000% 060506BB7 0.000000 0.000000 0.000000
A-LR 0.00 6.500000% 060506BC5 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 12,427,526.01 6.500000% 060506BD3 1.106066 5.217541 962.132219
B-2 4,335,183.94 6.500000% 060506BE1 1.106066 5.217541 962.132219
B-3 2,023,086.48 6.500000% 060506BF8 1.106066 5.217541 962.132219
B-4 2,023,086.48 6.500000% 060506BG6 1.106066 5.217541 962.132219
B-5 1,156,049.70 6.500000% 060506BH4 1.106066 5.217541 962.132222
B-6 895,859.86 6.500000% 060506BJ0 0.856901 4.042877 745.520306
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 385,086,471.70 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 377,438,844.40 377,438,844.40
Loan count 1158 1158
Avg loan rate 7.028233% 7.03
Prepay amount 7,205,362.92 7,205,362.92
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 155,137.35 155,137.35
Sub servicer fees 0.00 0.00
Trustee fees 1,123.17 1,123.17
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 264,826.96 264,826.96
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 6,000,845.77 6,000,845.77
Special Hazard 3,850,864.69 3,850,864.69
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 94.069878% 100.000000% 362,225,679.24
-----------------------------------------------------------------------------
Junior 5.930122% 0.000000% 22,834,542.09
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 13 3,956,890.72
60 to 89 days 1 430,750.58
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 14 4,387,641.30
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 9,728,362.15 9,728,362.15
Principal remittance amount 7,647,624.12 7,647,624.12
Interest remittance amount 2,080,738.03 2,080,738.03