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): December 25, 2002
BOA
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1999-1 Trust)
(Exact name of registrant as specified in charter)
North Carolina 033-63714-81 13-4050853
(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 1999-1 Trust
On December 25, 2002, The Bank of New York, as Trustee for BOA, Mortgage
Pass-Through Certificates Series 1999-1 Trust, 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 Trust relating to the distribution date of
December 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: December 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 December 25, 2002
Payment Date: 12/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1 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 37,297,994.28 6.500000% 12,905,719.80 201,320.20 13,107,040.00 0.00 710.61
A-2 14,902,511.00 6.000000% 5,153,719.83 74,250.47 5,227,970.30 0.00 262.08
A-3 33,958,954.44 6.500000% 6,601,607.92 183,297.35 6,784,905.26 0.00 646.99
A-4 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-5 8,919,403.70 6.250000% 1,799,079.24 46,291.83 1,845,371.07 0.00 163.40
A-6 6,627,738.92 1.880000% 1,288,429.94 10,346.94 1,298,776.88 0.00 36.52
A-7 6,627,738.92 6.620000% 0.00 36,434.42 36,434.42 0.00 128.60
A-8 7,068,000.00 6.500000% 0.00 38,150.34 38,150.34 0.00 134.66
A-9 3,556,666.00 6.400000% 0.00 18,902.17 18,902.17 0.00 66.72
A-10 17,755,000.00 6.500000% 0.00 95,834.65 95,834.65 0.00 338.27
A-11 4,843,000.00 6.500000% 0.00 26,140.65 26,140.65 0.00 92.27
A-12 2,183,000.00 6.500000% 0.00 11,782.99 11,782.99 0.00 41.59
A-13 1,136,000.00 6.500000% 0.00 6,131.69 6,131.69 0.00 21.64
A-14 1,578,000.00 6.500000% 0.00 8,517.44 8,517.44 0.00 30.06
A-15 1,868,444.00 6.500000% 0.00 10,085.14 10,085.14 0.00 35.60
A-16 2,000,000.00 6.500000% 0.00 10,795.23 10,795.23 0.00 38.10
A-17 1,000,000.00 6.500000% 0.00 5,397.61 5,397.61 0.00 19.05
A-18 1,625,000.00 2.380000% 0.00 3,211.58 3,211.58 0.00 11.34
A-19 375,000.00 24.353333% 0.00 7,583.65 7,583.65 0.00 26.77
A-20 17,995,825.00 6.400000% 3,199,207.60 95,640.15 3,294,847.75 0.00 337.58
A-21 10,370,754.78 7.000000% 1,539,342.36 60,283.29 1,599,625.65 0.00 212.78
A-22 11,608,445.00 6.000000% 0.00 57,838.07 57,838.07 0.00 204.15
A-23 3,200,334.00 6.250000% 0.00 16,609.78 16,609.78 0.00 58.63
A-24 60,000,000.00 6.500000% 0.00 323,856.87 323,856.87 0.00 1,143.13
A-PO 816,414.05 0.000000% 83,114.05 0.00 83,114.05 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 12,325,247.83 6.500000% 15,158.75 66,526.94 81,685.68 0.00 234.82
B-2 4,299,505.50 6.500000% 5,287.93 23,207.07 28,495.01 0.00 81.91
B-3 2,006,436.54 6.500000% 2,467.70 10,829.97 13,297.67 0.00 38.23
B-4 2,006,436.54 6.500000% 2,467.70 10,829.97 13,297.67 0.00 38.23
B-5 1,146,535.44 6.500000% 1,410.12 6,188.56 7,598.67 0.00 21.84
B-6 888,487.83 6.500000% 1,092.75 4,795.71 5,888.46 0.00 16.93
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 273,359,134.85 - 32,598,105.70 1,471,080.71 34,069,186.41 - 5,192.52
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 24,392,274.48 710.61
A-2 9,748,791.17 262.08
A-3 27,357,346.53 646.99
A-4 0.00 0.00
A-5 7,120,324.46 163.40
A-6 5,339,308.97 36.52
A-7 5,339,308.97 128.60
A-8 7,068,000.00 134.66
A-9 3,556,666.00 66.72
A-10 17,755,000.00 338.27
A-11 4,843,000.00 92.27
A-12 2,183,000.00 41.59
A-13 1,136,000.00 21.64
A-14 1,578,000.00 30.06
A-15 1,868,444.00 35.60
A-16 2,000,000.00 38.10
A-17 1,000,000.00 19.05
A-18 1,625,000.00 11.34
A-19 375,000.00 26.77
A-20 14,796,617.40 337.58
A-21 8,831,412.42 212.78
A-22 11,608,445.00 204.15
A-23 3,200,334.00 58.63
A-24 60,000,000.00 1,143.13
A-PO 733,300.00 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,310,089.08 234.82
B-2 4,294,217.57 81.91
B-3 2,003,968.83 38.23
B-4 2,003,968.83 38.23
B-5 1,145,125.32 21.84
B-6 887,395.09 16.93
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 240,761,029.15 5,192.52
- --------------------------------------------------------------------------------
Payment Date: 12/25/02
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BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1 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 37,297,994.28 6.500000% 060506AA0 77.556548 1.209828 146.584664
A-2 14,902,511.00 6.000000% 060506AB8 77.547124 1.117234 146.688362
A-3 33,958,954.44 6.500000% 060506AC6 66.016079 1.832973 273.573465
A-4 0.00 6.250000% 060506AD4 0.000000 0.000000 0.000000
A-5 8,919,403.70 6.250000% 060506AE2 71.963170 1.851673 284.812978
A-6 6,627,738.92 1.880000% 060506AF9 66.016079 0.530152 273.573465
A-7 6,627,738.92 6.620000% 060506AG7 0.000000 1.866813 273.573465
A-8 7,068,000.00 6.500000% 060506AH5 0.000000 5.397615 1,000.000000
A-9 3,556,666.00 6.400000% 060506AJ1 0.000000 5.314574 1,000.000000
A-10 17,755,000.00 6.500000% 060506AK8 0.000000 5.397615 1,000.000000
A-11 4,843,000.00 6.500000% 060506AL6 0.000000 5.397615 1,000.000000
A-12 2,183,000.00 6.500000% 060506AM4 0.000000 5.397615 1,000.000000
A-13 1,136,000.00 6.500000% 060506AN2 0.000000 5.397615 1,000.000000
A-14 1,578,000.00 6.500000% 060506AP7 0.000000 5.397615 1,000.000000
A-15 1,868,444.00 6.500000% 060506AQ5 0.000000 5.397615 1,000.000000
A-16 2,000,000.00 6.500000% 060506AR3 0.000000 5.397615 1,000.000000
A-17 1,000,000.00 6.500000% 060506AS1 0.000000 5.397615 1,000.000000
A-18 1,625,000.00 2.380000% 060506AT9 0.000000 1.976357 1,000.000000
A-19 375,000.00 24.353333% 060506AU6 0.000000 20.223062 1,000.000000
A-20 17,995,825.00 6.400000% 060506AV4 63.984152 1.912803 295.932348
A-21 10,370,754.78 7.000000% 060506AW2 59.733891 2.339282 342.701297
A-22 11,608,445.00 6.000000% 060506AX0 0.000000 4.982413 1,000.000000
A-23 3,200,334.00 6.250000% 060506AY8 0.000000 5.190014 1,000.000000
A-24 60,000,000.00 6.500000% 060506AZ5 0.000000 5.397615 1,000.000000
A-PO 816,414.05 0.000000% 060506BA9 68.300889 0.000000 602.606172
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 12,325,247.83 6.500000% 060506BD3 1.174931 5.156400 954.135931
B-2 4,299,505.50 6.500000% 060506BE1 1.174931 5.156400 954.135931
B-3 2,006,436.54 6.500000% 060506BF8 1.174931 5.156400 954.135931
B-4 2,006,436.54 6.500000% 060506BG6 1.174931 5.156400 954.135931
B-5 1,146,535.44 6.500000% 060506BH4 1.174931 5.156400 954.135934
B-6 888,487.83 6.500000% 060506BJ0 0.910411 3.995505 739.324865
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 273,359,134.85 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1 Trust
BANK OF AMERICA, FSB, SERVICER
------------------------------------------------------------
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COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 240,761,025.27 240,761,025.27
Loan count 752 752
Avg loan rate 7.005057% 7.01
Prepay amount 32,261,796.77 32,261,796.77
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 56,534.26 56,534.26
Sub servicer fees 0.00 0.00
Trustee fees 797.30 797.30
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 2,733,591.31 2,733,591.31
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 91.715267% 100.000000% 250,686,485.17
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Junior 8.284733% 0.000000% 22,644,764.73
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 14 4,430,843.34
60 to 89 days 2 745,950.96
90 or more 1 428,070.03
Foreclosure 0 0.00
Totals: 17 5,604,864.33
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 34,069,186.41 34,069,186.41
Principal remittance amount 32,598,105.70 32,598,105.70
Interest remittance amount 1,471,080.71 1,471,080.71