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): February 25, 2003
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 February 25, 2003, 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
February 25, 2003 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: February 25, 2003
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 February 25, 2003
Payment Date: 02/25/03
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1999-1 Trust
BANK OF AMERICA, FSB, SERVICER
------------------------------------------------------------
Class Information Current Payment Information
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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 10,065,498.72 6.500000% 8,584,227.92 54,403.44 8,638,631.36 0.00 118.01
A-2 4,027,592.39 6.000000% 3,427,992.11 20,094.37 3,448,086.49 0.00 43.59
A-3 20,028,831.91 6.500000% 4,391,053.57 108,254.69 4,499,308.26 0.00 234.82
A-4 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-5 5,123,147.60 6.250000% 1,196,655.94 26,625.31 1,223,281.25 0.00 57.75
A-6 3,909,009.30 1.852500% 856,998.02 6,021.47 863,019.49 0.00 13.06
A-7 3,909,009.30 6.647500% 0.00 21,607.41 21,607.41 0.00 46.87
A-8 7,068,000.00 6.500000% 0.00 38,202.14 38,202.14 0.00 82.86
A-9 3,556,666.00 6.400000% 0.00 18,927.83 18,927.83 0.00 41.06
A-10 17,755,000.00 6.500000% 0.00 95,964.76 95,964.76 0.00 208.16
A-11 4,843,000.00 6.500000% 0.00 26,176.14 26,176.14 0.00 56.78
A-12 2,183,000.00 6.500000% 0.00 11,798.99 11,798.99 0.00 25.59
A-13 1,136,000.00 6.500000% 0.00 6,140.01 6,140.01 0.00 13.32
A-14 1,578,000.00 6.500000% 0.00 8,529.00 8,529.00 0.00 18.50
A-15 1,868,444.00 6.500000% 0.00 10,098.83 10,098.83 0.00 21.91
A-16 2,000,000.00 6.500000% 0.00 10,809.89 10,809.89 0.00 23.45
A-17 1,000,000.00 6.500000% 0.00 5,404.94 5,404.94 0.00 11.72
A-18 1,625,000.00 2.352500% 0.00 3,178.78 3,178.78 0.00 6.90
A-19 375,000.00 24.472500% 0.00 7,631.10 7,631.10 0.00 16.55
A-20 11,245,143.28 6.400000% 2,127,950.06 59,844.29 2,187,794.35 0.00 129.81
A-21 7,122,572.21 7.000000% 1,023,892.19 41,458.41 1,065,350.60 0.00 89.93
A-22 11,608,445.00 6.000000% 0.00 57,916.60 57,916.60 0.00 125.63
A-23 3,200,334.00 6.250000% 0.00 16,632.33 16,632.33 0.00 36.08
A-24 60,000,000.00 6.500000% 0.00 324,296.56 324,296.56 0.00 703.44
A-PO 642,846.48 0.000000% 64,550.44 0.00 64,550.44 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 12,294,655.56 6.500000% 15,595.93 66,451.91 82,047.83 0.00 144.14
B-2 4,288,833.78 6.500000% 5,440.44 23,180.90 28,621.34 0.00 50.28
B-3 2,001,456.40 6.500000% 2,538.87 10,817.76 13,356.63 0.00 23.46
B-4 2,001,456.40 6.500000% 2,538.87 10,817.76 13,356.63 0.00 23.46
B-5 1,143,689.65 6.500000% 1,450.78 6,181.58 7,632.36 0.00 13.41
B-6 886,282.54 6.500000% 1,124.26 4,790.31 5,914.57 0.00 10.39
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 204,577,905.21 - 21,702,009.40 1,102,257.51 22,804,266.91 - 2,390.92
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 1,481,270.80 118.01
A-2 599,600.28 43.59
A-3 15,637,778.34 234.82
A-4 0.00 0.00
A-5 3,926,491.66 57.75
A-6 3,052,011.28 13.06
A-7 3,052,011.28 46.87
A-8 7,068,000.00 82.86
A-9 3,556,666.00 41.06
A-10 17,755,000.00 208.16
A-11 4,843,000.00 56.78
A-12 2,183,000.00 25.59
A-13 1,136,000.00 13.32
A-14 1,578,000.00 18.50
A-15 1,868,444.00 21.91
A-16 2,000,000.00 23.45
A-17 1,000,000.00 11.72
A-18 1,625,000.00 6.90
A-19 375,000.00 16.55
A-20 9,117,193.22 129.81
A-21 6,098,680.02 89.93
A-22 11,608,445.00 125.63
A-23 3,200,334.00 36.08
A-24 60,000,000.00 703.44
A-PO 578,296.04 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 12,279,059.64 144.14
B-2 4,283,393.34 50.28
B-3 1,998,917.53 23.46
B-4 1,998,917.53 23.46
B-5 1,142,238.86 13.41
B-6 885,158.28 10.39
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 182,875,895.81 2,390.92
- --------------------------------------------------------------------------------
Payment Date: 02/25/03
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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 10,065,498.72 6.500000% 060506AA0 51.586668 0.326936 8.901654
A-2 4,027,592.39 6.000000% 060506AB8 51.580400 0.302357 9.022081
A-3 20,028,831.91 6.500000% 060506AC6 43.910536 1.082547 156.377783
A-4 0.00 6.250000% 060506AD4 0.000000 0.000000 0.000000
A-5 5,123,147.60 6.250000% 060506AE2 47.866238 1.065012 157.059667
A-6 3,909,009.30 1.852500% 060506AF9 43.910536 0.308526 156.377783
A-7 3,909,009.30 6.647500% 060506AG7 0.000000 1.107112 156.377783
A-8 7,068,000.00 6.500000% 060506AH5 0.000000 5.404943 1,000.000000
A-9 3,556,666.00 6.400000% 060506AJ1 0.000000 5.321790 1,000.000000
A-10 17,755,000.00 6.500000% 060506AK8 0.000000 5.404943 1,000.000000
A-11 4,843,000.00 6.500000% 060506AL6 0.000000 5.404943 1,000.000000
A-12 2,183,000.00 6.500000% 060506AM4 0.000000 5.404943 1,000.000000
A-13 1,136,000.00 6.500000% 060506AN2 0.000000 5.404943 1,000.000000
A-14 1,578,000.00 6.500000% 060506AP7 0.000000 5.404943 1,000.000000
A-15 1,868,444.00 6.500000% 060506AQ5 0.000000 5.404943 1,000.000000
A-16 2,000,000.00 6.500000% 060506AR3 0.000000 5.404943 1,000.000000
A-17 1,000,000.00 6.500000% 060506AS1 0.000000 5.404943 1,000.000000
A-18 1,625,000.00 2.352500% 060506AT9 0.000000 1.956174 1,000.000000
A-19 375,000.00 24.472500% 060506AU6 0.000000 20.349609 1,000.000000
A-20 11,245,143.28 6.400000% 060506AV4 42.559001 1.196886 182.343864
A-21 7,122,572.21 7.000000% 060506AW2 39.731944 1.608786 236.658131
A-22 11,608,445.00 6.000000% 060506AX0 0.000000 4.989178 1,000.000000
A-23 3,200,334.00 6.250000% 060506AY8 0.000000 5.197060 1,000.000000
A-24 60,000,000.00 6.500000% 060506AZ5 0.000000 5.404943 1,000.000000
A-PO 642,846.48 0.000000% 060506BA9 53.045814 0.000000 475.228096
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 12,294,655.56 6.500000% 060506BD3 1.208816 5.150585 951.730887
B-2 4,288,833.78 6.500000% 060506BE1 1.208816 5.150585 951.730887
B-3 2,001,456.40 6.500000% 060506BF8 1.208816 5.150585 951.730887
B-4 2,001,456.40 6.500000% 060506BG6 1.208816 5.150585 951.730887
B-5 1,143,689.65 6.500000% 060506BH4 1.208816 5.150585 951.730890
B-6 886,282.54 6.500000% 060506BJ0 0.936667 3.990999 737.461284
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 204,577,905.21 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
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 182,875,891.93 182,875,891.93
Loan count 581 581
Avg loan rate 6.997240% 7.00
Prepay amount 21,442,312.75 21,442,312.75
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 42,644.27 42,644.27
Sub servicer fees 0.00 0.00
Trustee fees 596.69 596.69
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 2,222,540.34 2,222,540.34
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 88.957335% 100.000000% 181,961,530.89
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Junior 11.042665% 0.000000% 22,587,685.16
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 7 2,411,170.81
60 to 89 days 2 484,459.81
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 9 2,895,630.62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 22,804,266.91 22,804,266.91
Principal remittance amount 21,702,009.40 21,702,009.40
Interest remittance amount 1,102,257.51 1,102,257.51