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): June 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 June 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 June 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: June 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 June 25, 2002
Payment Date: 06/25/02
------------------------------------------------------------
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 78,532,992.19 6.500000% 3,188,006.27 425,387.04 3,613,393.31 0.00 0.00
A-2 31,369,134.31 6.000000% 1,273,086.00 156,845.67 1,429,931.67 0.00 0.00
A-3 55,051,717.40 6.500000% 1,630,747.28 298,196.80 1,928,944.08 0.00 0.00
A-4 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-5 14,667,632.39 6.250000% 444,413.48 76,393.92 520,807.40 0.00 0.00
A-6 10,744,394.69 2.340000% 318,271.49 20,951.57 339,223.06 0.00 0.00
A-7 10,744,394.69 6.160000% 0.00 55,154.56 55,154.56 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 2.840000% 0.00 3,845.83 3,845.83 0.00 0.00
A-19 375,000.00 22.360000% 0.00 6,987.50 6,987.50 0.00 0.00
A-20 28,217,596.50 6.400000% 790,277.03 150,493.85 940,770.88 0.00 0.00
A-21 15,289,099.52 7.000000% 380,252.57 89,186.41 469,438.98 0.00 0.00
A-22 11,608,445.00 6.000000% 0.00 58,042.22 58,042.22 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 934,849.50 0.000000% 4,138.39 0.00 4,138.39 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 12,413,255.75 6.500000% 14,355.85 67,238.47 81,594.32 0.00 0.00
B-2 4,330,205.94 6.500000% 5,007.86 23,455.28 28,463.14 0.00 0.00
B-3 2,020,763.41 6.500000% 2,337.00 10,945.80 13,282.80 0.00 0.00
B-4 2,020,763.41 6.500000% 2,337.00 10,945.80 13,282.80 0.00 0.00
B-5 1,154,722.23 6.500000% 1,335.43 6,254.75 7,590.17 0.00 0.00
B-6 894,831.34 6.500000% 1,034.71 4,847.00 5,881.71 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 377,438,847.58 - 8,055,600.35 2,039,396.77 10,094,997.12 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 75,344,985.92 0.00
A-2 30,096,048.31 0.00
A-3 53,420,970.13 0.00
A-4 0.00 0.00
A-5 14,223,218.90 0.00
A-6 10,426,123.19 0.00
A-7 10,426,123.19 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 27,427,319.47 0.00
A-21 14,908,846.95 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 930,711.11 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,398,899.90 0.00
B-2 4,325,198.09 0.00
B-3 2,018,426.41 0.00
B-4 2,018,426.41 0.00
B-5 1,153,386.80 0.00
B-6 893,796.63 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 369,383,247.23 -
- --------------------------------------------------------------------------------
Payment Date: 06/25/02
------------------------------------------------------------
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 78,532,992.19 6.500000% 060506AA0 19.158231 2.556351 452.783502
A-2 31,369,134.31 6.000000% 060506AB8 19.155903 2.360029 452.849994
A-3 55,051,717.40 6.500000% 060506AC6 16.307473 2.981968 534.209701
A-4 0.00 6.250000% 060506AD4 0.000000 0.000000 0.000000
A-5 14,667,632.39 6.250000% 060506AE2 17.776539 3.055757 568.928756
A-6 10,744,394.69 2.340000% 060506AF9 16.307473 1.073508 534.209701
A-7 10,744,394.69 6.160000% 060506AG7 0.000000 2.825988 534.209701
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 2.840000% 060506AT9 0.000000 2.366667 1,000.000000
A-19 375,000.00 22.360000% 060506AU6 0.000000 18.633333 1,000.000000
A-20 28,217,596.50 6.400000% 060506AV4 15.805541 3.009877 548.546389
A-21 15,289,099.52 7.000000% 060506AW2 14.755629 3.460862 578.535000
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 934,849.50 0.000000% 060506BA9 3.400816 0.000000 764.833300
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 12,413,255.75 6.500000% 060506BD3 1.112700 5.211550 961.019520
B-2 4,330,205.94 6.500000% 060506BE1 1.112700 5.211550 961.019520
B-3 2,020,763.41 6.500000% 060506BF8 1.112700 5.211550 961.019520
B-4 2,020,763.41 6.500000% 060506BG6 1.112700 5.211550 961.019520
B-5 1,154,722.23 6.500000% 060506BH4 1.112700 5.211550 961.019523
B-6 894,831.34 6.500000% 060506BJ0 0.862060 4.038235 744.658246
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 377,438,847.58 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1
BANK OF AMERICA, FSB, MASTER SERVICER
------------------------------------------------------------
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COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 369,383,243.89 369,383,243.89
Loan count 1135 1135
Avg loan rate 7.027296% 7.03
Prepay amount 7,619,030.81 7,619,030.81
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 156,126.84 156,126.84
Sub servicer fees 0.00 0.00
Trustee fees 1,100.86 1,100.86
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 3,774,388.44 3,774,388.44
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 93.956708% 100.000000% 354,604,305.50
-----------------------------------------------------------------------------
Junior 6.043292% 0.000000% 22,808,134.24
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 7 1,958,318.66
60 to 89 days 1 233,755.75
90 or more 1 430,750.58
Foreclosure 0 0.00
Totals: 9 2,622,824.99
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 10,094,997.12 10,094,997.12
Principal remittance amount 8,055,600.35 8,055,600.35
Interest remittance amount 2,039,396.77 2,039,396.77