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): November 25, 2002
BOA
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-2 Trust)
(Exact name of registrant as specified in charter)
North Carolina 333-67267-01 13-4058847/45
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
101 Barclay St. 8W, New York, NY 10286
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: 212-815-6140
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 1999-2 Trust
On November 25, 2002, The Bank of New York, as Trustee for BOA, MORTGAGE
PASS-THROUGH CERTIFICATES Series 1999-2 Trust, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of March 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 1999-2 Trust relating to the distribution date of
November 25, 2002 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of March 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: November 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 November 25, 2002
Payment Date: 11/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-2 Trust
BANK OF AMERICA, FSB, 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 24,299,073.38 6.500000% 8,040,256.53 130,377.98 8,170,634.50 0.00 1,242.00
A-2 36,093,632.55 6.500000% 6,787,546.88 193,662.31 6,981,209.19 0.00 1,844.86
A-3 26,800,000.00 6.500000% 0.00 143,796.83 143,796.83 0.00 1,369.83
A-4 4,826,000.00 6.500000% 0.00 25,894.16 25,894.16 0.00 246.67
A-5 7,621,000.00 6.500000% 0.00 40,890.88 40,890.88 0.00 389.53
A-6 6,009,000.00 6.500000% 0.00 32,241.61 32,241.61 0.00 307.14
A-7 8,456,429.00 6.900000% 0.00 48,165.63 48,165.63 0.00 458.83
A-8 3,382,571.00 5.500000% 0.00 15,357.16 15,357.16 0.00 146.30
A-9 148,519.05 6.500000% 18,744.18 796.89 19,541.07 0.00 7.59
A-10 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-11 9,007,002.46 5.750000% 1,379,129.75 42,751.30 1,421,881.05 0.00 407.26
A-12 48,883,000.00 5.900000% 0.00 238,073.49 238,073.49 0.00 2,267.93
A-13 561,836.11 6.350000% 561,836.11 2,944.99 564,781.10 0.00 28.05
PAC IO A 43,085,835.66 7.339471% 11,078,458.08 56,405.44 11,134,863.52 0.00 2,486.68
A-PO 584,076.16 0.000000% 1,139.01 0.00 1,139.01 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 10,306,333.23 6.500000% 12,440.41 55,299.18 67,739.59 0.00 526.79
B-2 3,595,232.63 6.500000% 4,339.68 19,290.41 23,630.09 0.00 183.76
B-3 1,677,775.87 6.500000% 2,025.18 9,002.20 11,027.38 0.00 85.76
B-4 1,677,775.87 6.500000% 2,025.18 9,002.20 11,027.38 0.00 85.76
B-5 958,729.34 6.500000% 1,157.25 5,144.11 6,301.36 0.00 49.00
B-6 960,569.15 6.500000% 43.83 6,269.70 6,313.53 1,115.63 49.10
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 238,934,391.46 - 27,889,142.07 1,075,366.47 28,964,508.55 1,115.63 12,182.85
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 16,258,816.85 1,242.00
A-2 29,306,085.68 1,844.86
A-3 26,800,000.00 1,369.83
A-4 4,826,000.00 246.67
A-5 7,621,000.00 389.53
A-6 6,009,000.00 307.14
A-7 8,456,429.00 458.83
A-8 3,382,571.00 146.30
A-9 129,774.86 7.59
A-10 0.00 0.00
A-11 7,627,872.71 407.26
A-12 48,883,000.00 2,267.93
A-13 0.00 28.05
PAC IO A 32,212,008.18 2,486.68
A-PO 582,937.15 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 10,293,892.82 526.79
B-2 3,590,892.96 183.76
B-3 1,675,750.68 85.76
B-4 1,675,750.68 85.76
B-5 957,572.09 49.00
B-6 959,409.68 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 211,248,764.35 12,133.75
- --------------------------------------------------------------------------------
Payment Date: 11/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-2 Trust
BANK OF AMERICA, FSB, 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 24,299,073.38 6.500000% 060506BK7 80.402565 1.303780 162.588168
A-2 36,093,632.55 6.500000% 060506BL5 67.875469 1.936623 293.060857
A-3 26,800,000.00 6.500000% 060506BM3 0.000000 5.365553 1,000.000000
A-4 4,826,000.00 6.500000% 060506BN1 0.000000 5.365553 1,000.000000
A-5 7,621,000.00 6.500000% 060506BP6 0.000000 5.365553 1,000.000000
A-6 6,009,000.00 6.500000% 060506BQ4 0.000000 5.365553 1,000.000000
A-7 8,456,429.00 6.900000% 060506BR2 0.000000 5.695741 1,000.000000
A-8 3,382,571.00 5.500000% 060506BS0 0.000000 4.540084 1,000.000000
A-9 148,519.05 6.500000% 060506BT8 57.674414 2.451960 399.307270
A-10 0.00 6.500000% 060506BU5 0.000000 0.000000 0.000000
A-11 9,007,002.46 5.750000% 060506BV3 27.277631 0.845572 150.870720
A-12 48,883,000.00 5.900000% 060506BW1 0.000000 4.870272 1,000.000000
A-13 561,836.11 6.350000% 060506BX9 7.357054 0.038564 0.000000
PAC IO A 43,085,835.66 7.339471% 060506BY7 314.872046 1.603156 915.530019
A-PO 584,076.16 0.000000% 060506BZ4 1.520771 0.000000 778.321542
Residual A-R 0.00 6.500000% 060506CA8 0.000000 0.000000 0.000000
A-LR 0.00 6.500000% 060506CB6 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 10,306,333.23 6.500000% 060506CC4 1.156376 5.140238 956.850628
B-2 3,595,232.63 6.500000% 060506CD2 1.156376 5.140238 956.850628
B-3 1,677,775.87 6.500000% 060506CE0 1.156376 5.140238 956.850628
B-4 1,677,775.87 6.500000% 060506CF7 1.156376 5.140238 956.850628
B-5 958,729.34 6.500000% 060506CQ5 1.156376 5.140238 956.850628
B-6 960,569.15 6.500000% 060506CH3 0.043785 6.262554 958.316465
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 238,934,391.46 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-2 Trust
BANK OF AMERICA, FSB, SERVICER
------------------------------------------------------------
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COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 211,248,764.35 211,248,764.35
Loan count 662 662
Avg loan rate 7.088834% 7.09
Prepay amount 27,397,185.35 27,397,185.35
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 57,749.87 57,749.87
Sub servicer fees 0.00 0.00
Trustee fees 696.89 696.89
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 3,411.51 3,411.51
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 5,003,766.00 5,003,766.00
Special Hazard 2,909,600.40 2,909,600.40
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.983103% 100.000000% 219,757,975.36
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Junior 8.016897% 0.000000% 19,153,268.92
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 8 2,806,537.57
60 to 89 days 2 559,374.46
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 10 3,365,912.03
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 28,964,508.55 28,964,508.55
Principal remittance amount 27,889,142.07 27,889,142.07
Interest remittance amount 1,075,366.47 1,075,366.47