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): April 25, 2003
BOA
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5 Trust)
(Exact name of registrant as specified in charter)
North Carolina 333-67267-04 13-4067086
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
101 N. Tryon St., Charlotte, NC 28255
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: 704-387-2111
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 Trust
On April 25, 2003, The Bank of New York, as Trustee for BOA, MORTGAGE
PASS-THROUGH CERTIFICATES Series 1999-5 Trust, 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 Trust relating to the distribution date of
April 25, 2003 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: April 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 April 25, 2003
Payment Date: 04/25/03
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5 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 A1 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A2 16,990,882.90 6.500000% 6,822,640.81 83,644.17 6,906,284.98 0.00 8,389.78
A3 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A4 60,000,000.00 6.500000% 0.00 295,373.13 295,373.13 0.00 29,626.87
A5 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A6 3,180,438.90 6.750000% 3,180,438.90 16,259.13 3,196,698.02 0.00 1,630.84
A7 1,431,000.00 6.750000% 1,105,851.75 7,315.60 1,113,167.34 0.00 733.78
A8 2,950,000.00 6.750000% 0.00 15,081.07 15,081.07 0.00 1,512.68
A9 3,113,000.00 6.750000% 0.00 15,914.36 15,914.36 0.00 1,596.26
A10 1,558,146.30 7.000000% 1,428,763.55 8,260.62 1,437,024.17 0.00 828.57
A11 2,000,000.00 7.000000% 0.00 10,603.14 10,603.14 0.00 1,063.53
A12 3,558,146.30 5.500000% 1,428,763.55 14,821.52 1,443,585.07 0.00 1,486.65
A13 2,136,592.82 7.000000% 2,133,925.95 11,327.29 2,145,253.24 0.00 1,136.16
A14 3,177,667.00 7.000000% 0.00 16,846.62 16,846.62 0.00 1,689.77
A15 3,558,146.30 6.250000% 1,428,763.55 16,842.64 1,445,606.19 0.00 1,689.37
A16 3,815,844.57 7.000000% 3,810,581.60 20,229.96 3,830,811.57 0.00 2,029.13
A17 3,160,000.00 7.000000% 0.00 16,752.96 16,752.96 0.00 1,680.38
A18 2,513,904.00 7.000000% 0.00 13,327.64 13,327.64 0.00 1,336.80
A19 1,138,770.25 0.000000% 457,269.96 0.00 457,269.96 0.00 0.00
A20 12,747,656.29 6.500000% 68,769.48 62,755.25 131,524.73 0.00 6,294.55
A21 13,969,343.71 6.500000% 0.00 0.00 0.00 0.00 6,897.80
A22 100,000.00 6.500000% 0.00 492.29 492.29 0.00 49.38
APO 424,407.82 0.000000% 11,311.11 0.00 11,311.11 0.00 0.00
Residual AR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,323,645.37 6.500000% 15,450.85 60,667.89 76,118.75 0.00 6,085.18
B2 4,298,812.85 6.500000% 5,389.66 21,162.56 26,552.23 0.00 2,122.67
B3 2,006,685.46 6.500000% 2,515.90 9,878.68 12,394.58 0.00 990.86
B4 2,006,685.46 6.500000% 2,515.90 9,878.68 12,394.58 0.00 990.86
B5 1,146,541.02 6.500000% 1,437.48 5,644.29 7,081.77 0.00 566.14
B6 1,141,993.66 6.500000% 1,431.73 5,621.90 7,053.63 227,103.92 563.89
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 164,448,310.98 - 21,905,821.71 738,701.41 22,644,523.12 227,103.92 80,991.92
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 0.00 0.00
A2 10,168,242.10 8,389.78
A3 0.00 0.00
A4 60,000,000.00 29,626.87
A5 0.00 0.00
A6 0.00 1,630.84
A7 325,148.25 733.78
A8 2,950,000.00 1,512.68
A9 3,113,000.00 1,596.26
A10 129,382.75 828.57
A11 2,000,000.00 1,063.53
A12 2,129,382.75 1,486.65
A13 2,666.87 1,136.16
A14 3,177,667.00 1,689.77
A15 2,129,382.75 1,689.37
A16 5,262.96 2,029.13
A17 3,160,000.00 1,680.38
A18 2,513,904.00 1,336.80
A19 681,500.29 0.00
A20 12,678,886.81 6,294.55
A21 14,038,113.19 6,897.80
A22 100,000.00 49.38
APO 413,096.72 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 12,308,194.52 6,085.18
B2 4,293,423.19 2,122.67
B3 2,004,169.56 990.86
B4 2,004,169.56 990.86
B5 1,145,103.54 566.14
B6 913,458.01 563.89
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 142,384,154.84 80,991.92
- --------------------------------------------------------------------------------
Payment Date: 04/25/03
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5 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 A1 0.00 6.500000% 060506DQ2 0.000000 0.000000 0.000000
A2 16,990,882.90 6.500000% 060506DR0 44.592424 0.546694 66.459099
A3 0.00 6.500000% 060506DS8 0.000000 0.000000 0.000000
A4 60,000,000.00 6.500000% 060506DT6 0.000000 4.922885 1,000.000000
A5 0.00 6.750000% 060506DU3 0.000000 0.000000 0.000000
A6 3,180,438.90 6.750000% 060506DV1 752.944814 3.849225 0.000000
A7 1,431,000.00 6.750000% 060506DW9 772.782491 5.112227 227.217509
A8 2,950,000.00 6.750000% 060506DX7 0.000000 5.112227 1,000.000000
A9 3,113,000.00 6.750000% 060506DY5 0.000000 5.112227 1,000.000000
A10 1,558,146.30 7.000000% 060506DZ2 476.254516 2.753540 43.127584
A11 2,000,000.00 7.000000% 060506EA6 0.000000 5.301569 1,000.000000
A12 3,558,146.30 5.500000% 060506EB4 285.752709 2.964305 425.876550
A13 2,136,592.82 7.000000% 060506EC2 641.782240 3.406705 0.802067
A14 3,177,667.00 7.000000% 060506ED0 0.000000 5.301569 1,000.000000
A15 3,558,146.30 6.250000% 060506EE8 285.752709 3.368528 425.876550
A16 3,815,844.57 7.000000% 060506EF5 641.728124 3.406865 0.886319
A17 3,160,000.00 7.000000% 060506EG3 0.000000 5.301569 1,000.000000
A18 2,513,904.00 7.000000% 060506EH1 0.000000 5.301569 1,000.000000
A19 1,138,770.25 0.000000% 060506EJ7 328.161652 0.000000 489.081460
A20 12,747,656.29 6.500000% 060506EV0 4.347271 3.967081 801.497365
A21 13,969,343.71 6.500000% 060506EK4 0.000000 0.000000 1,288.136648
A22 100,000.00 6.500000% 060506EL2 0.000000 4.922885 1,000.000000
APO 424,407.82 0.000000% 060506EM0 15.231743 0.000000 556.283544
Residual AR 0.00 6.500000% 060506EN8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,323,645.37 6.500000% 060506EP3 1.196905 4.699659 953.458403
B2 4,298,812.85 6.500000% 060506EQ1 1.196905 4.699659 953.458403
B3 2,006,685.46 6.500000% 060506ER9 1.196905 4.699659 953.458403
B4 2,006,685.46 6.500000% 060506ES7 1.196905 4.699659 953.458403
B5 1,146,541.02 6.500000% 060506ET5 1.196905 4.699659 953.458401
B6 1,141,993.66 6.500000% 060506EU2 1.191849 4.679973 760.411270
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 164,448,310.98 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-5 Trust
Bank of America, FSB, Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 142,384,152.26 142,384,152.26
Loan count 437 437
Avg loan rate 7.020845% 7.02
Prepay amount 21,552,047.28 21,552,047.28
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 0.00 0.00
Sub servicer fees 0.00 0.00
Trustee fees 479.64 479.64
Agg advances N/A N/A
Adv this period 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 227,103.92 227,103.92
Cumulative losses 231,993.70 231,993.70
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 86.193935% 100.000000% 141,523,947.16
-----------------------------------------------------------------------------
Junior 13.806065% 0.000000% 22,668,518.39
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 9 2,729,130.61
60 to 89 days 1 249,928.83
90 or more 2 536,987.87
Foreclosure 2 672,639.82
Totals: 14 4,188,687.13
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 297,296.81
Current Total Outstanding Number of Loans: 1
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 22,644,523.12 22,644,523.12
Principal remittance amount 21,905,821.71 21,905,821.71
Interest remittance amount 738,701.41 738,701.41