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, 2002
BOA
(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
BOA
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-5
On September 25, 2002, The Bank of New York, as Trustee for BOA, 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 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 1999-5 relating to the distribution date of September
25, 2002 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: September 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 September 25, 2002
Payment Date: 09/25/02
------------------------------------------------------------
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 66,738,470.48 6.500000% 9,366,390.75 361,500.05 9,727,890.80 0.00 0.00
A2 76,991,026.90 6.500000% 7,454,408.15 417,034.73 7,871,442.87 0.00 0.00
A3 52,733,737.28 6.500000% 6,994,573.48 285,641.08 7,280,214.56 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 13,263,299.77 6.500000% 72,874.21 71,842.87 144,717.08 0.00 0.00
A21 13,453,700.23 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 619,322.77 0.000000% 1,263.06 0.00 1,263.06 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,427,339.17 6.500000% 14,426.40 67,314.75 81,741.16 0.00 0.00
B2 4,334,983.99 6.500000% 5,032.31 23,481.16 28,513.47 0.00 0.00
B3 2,023,570.14 6.500000% 2,349.08 10,961.00 13,310.09 0.00 0.00
B4 2,023,570.14 6.500000% 2,349.08 10,961.00 13,310.09 0.00 0.00
B5 1,156,188.27 6.500000% 1,342.17 6,262.69 7,604.86 0.00 0.00
B6 1,156,521.05 6.500000% 1,342.40 6,264.49 7,606.89 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 356,529,730.18 - 23,916,351.10 1,854,973.83 25,771,324.93 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 57,372,079.73 0.00
A2 69,536,618.75 0.00
A3 45,739,163.80 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 13,190,425.56 0.00
A21 13,526,574.44 0.00
A22 100,000.00 0.00
APO 618,059.71 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 12,412,912.76 0.00
B2 4,329,951.68 0.00
B3 2,021,221.06 0.00
B4 2,021,221.06 0.00
B5 1,154,846.09 0.00
B6 1,155,178.65 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 332,686,253.29 -
- --------------------------------------------------------------------------------
Payment Date: 09/25/02
------------------------------------------------------------
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 66,738,470.48 6.500000% 060506DQ2 57.730631 2.228140 353.618213
A2 76,991,026.90 6.500000% 060506DR0 48.721622 2.725717 454.487704
A3 52,733,737.28 6.500000% 060506DS8 56.383297 2.302554 368.703660
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 13,263,299.77 6.500000% 060506EV0 4.606752 4.541556 833.834349
A21 13,453,700.23 6.500000% 060506EK4 0.000000 0.000000 1,241.197874
A22 100,000.00 6.500000% 060506EL2 0.000000 5.416667 1,000.000000
APO 619,322.77 0.000000% 060506EM0 1.700861 0.000000 832.290438
Residual AR 0.00 6.500000% 060506EN8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,427,339.17 6.500000% 060506EP3 1.117546 5.214560 961.570436
B2 4,334,983.99 6.500000% 060506EQ1 1.117546 5.214560 961.570436
B3 2,023,570.14 6.500000% 060506ER9 1.117546 5.214560 961.570436
B4 2,023,570.14 6.500000% 060506ES7 1.117546 5.214560 961.570436
B5 1,156,188.27 6.500000% 060506ET5 1.117546 5.214560 961.570435
B6 1,156,521.05 6.500000% 060506EU2 1.117483 5.214895 961.632449
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 356,529,730.18 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 332,686,250.99 332,686,250.99
Loan count 985 985
Avg loan rate 7.041620% 7.04
Prepay amount 23,429,536.71 23,429,536.71
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 118,681.67 118,681.67
Sub servicer fees 0.00 0.00
Trustee fees 1,039.88 1,039.88
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 93.521699% 100.000000% 333,407,557.43
-----------------------------------------------------------------------------
Junior 6.478301% 0.000000% 23,095,331.30
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 2,237,735.95
60 to 89 days 1 299,950.07
90 or more 0 0.00
Foreclosure 1 252,979.65
Totals: 10 2,790,665.67
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 569,161.77
Current Total Outstanding Number of Loans: 2
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 25,771,324.93 25,771,324.93
Principal remittance amount 23,916,351.10 23,916,351.10
Interest remittance amount 1,854,973.83 1,854,973.83