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): June 25, 2003
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 13-4058845/8847
(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 1999-2 Trust
On June 25, 2003, 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
June 25, 2003 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: June 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 June 25, 2003
Payment Date: 06/25/03
------------------------------------------------------------
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 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-2 1,740,238.50 6.500000% 1,740,238.50 9,382.74 1,749,621.24 0.00 43.55
A-3 26,800,000.00 6.500000% 0.00 144,495.91 144,495.91 0.00 670.75
A-4 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-5 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-6 2,061,416.92 6.500000% 2,061,416.92 11,114.41 2,072,531.34 0.00 51.59
A-7 8,456,429.00 6.900000% 1,993,865.60 48,399.79 2,042,265.39 0.00 224.67
A-8 3,382,571.00 5.500000% 797,546.10 15,431.82 812,977.91 0.00 71.63
A-9 53,650.26 6.500000% 8,334.46 289.26 8,623.72 0.00 1.34
A-10 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A-11 0.00 5.750000% 0.00 0.00 0.00 0.00 0.00
A-12 31,730,947.90 5.900000% 5,697,997.90 155,289.63 5,853,287.54 0.00 720.86
A-13 0.00 6.350000% 0.00 0.00 0.00 0.00 0.00
PAC IO A 4,948,000.00 10.347730% 0.00 42,469.99 42,469.99 0.00 197.15
A-PO 409,139.94 0.000000% 30,359.93 0.00 30,359.93 0.00 0.00
Residual A-R 0.00 6.500000% 0.00 0.04 0.04 0.00 0.00
A-LR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 10,216,783.74 6.500000% 13,386.38 55,085.20 68,471.59 0.00 255.71
B-2 3,563,994.44 6.500000% 4,669.67 19,215.77 23,885.44 0.00 89.20
B-3 1,663,198.04 6.500000% 2,179.18 8,967.36 11,146.54 0.00 41.63
B-4 1,663,198.04 6.500000% 2,179.18 8,967.36 11,146.54 0.00 41.63
B-5 950,399.15 6.500000% 1,245.25 5,124.21 6,369.45 0.00 23.79
B-6 952,222.98 6.500000% 1,247.64 5,134.04 6,381.68 0.00 23.83
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 98,592,189.90 - 12,354,666.70 529,367.56 12,884,034.26 - 2,457.34
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 0.00 0.00
A-2 0.00 43.55
A-3 26,800,000.00 670.75
A-4 0.00 0.00
A-5 0.00 0.00
A-6 0.00 51.59
A-7 6,462,563.40 224.67
A-8 2,585,024.90 71.63
A-9 45,315.80 1.34
A-10 0.00 0.00
A-11 0.00 0.00
A-12 26,032,950.00 720.86
A-13 0.00 0.00
PAC IO A 4,948,000.00 197.15
A-PO 378,780.02 0.00
Residual A-R 0.00 0.00
A-LR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 10,203,397.35 255.71
B-2 3,559,324.77 89.20
B-3 1,661,018.86 41.63
B-4 1,661,018.86 41.63
B-5 949,153.90 23.79
B-6 950,975.34 23.83
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 86,237,523.20 2,457.34
- --------------------------------------------------------------------------------
Payment Date: 06/25/03
------------------------------------------------------------
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 0.00 6.500000% 060506BK7 0.000000 0.000000 0.000000
A-2 1,740,238.50 6.500000% 060506BL5 17.402385 0.093827 0.000000
A-3 26,800,000.00 6.500000% 060506BM3 0.000000 5.391639 1,000.000000
A-4 0.00 6.500000% 060506BN1 0.000000 0.000000 0.000000
A-5 0.00 6.500000% 060506BP6 0.000000 0.000000 0.000000
A-6 2,061,416.92 6.500000% 060506BQ4 343.054905 1.849628 0.000000
A-7 8,456,429.00 6.900000% 060506BR2 235.781037 5.723432 764.218963
A-8 3,382,571.00 5.500000% 060506BS0 235.781037 4.562156 764.218963
A-9 53,650.26 6.500000% 060506BT8 25.644478 0.890039 139.433238
A-10 0.00 6.500000% 060506BU5 0.000000 0.000000 0.000000
A-11 0.00 5.750000% 060506BV3 0.000000 0.000000 0.000000
A-12 31,730,947.90 5.900000% 060506BW1 116.563998 3.176762 532.556308
A-13 0.00 6.350000% 060506BX9 0.000000 0.000000 0.000000
PAC IO A 4,948,000.00 10.347730% 060506BY7 0.000000 1.207083 140.632106
A-PO 409,139.94 0.000000% 060506BZ4 40.535733 0.000000 505.736588
Residual A-R 0.00 6.500000% 060506CA8 0.000000 0.418478 0.000000
A-LR 0.00 6.500000% 060506CB6 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 10,216,783.74 6.500000% 060506CC4 1.244308 5.120348 948.438781
B-2 3,563,994.44 6.500000% 060506CD2 1.244308 5.120348 948.438781
B-3 1,663,198.04 6.500000% 060506CE0 1.244308 5.120348 948.438781
B-4 1,663,198.04 6.500000% 060506CF7 1.244308 5.120348 948.438781
B-5 950,399.15 6.500000% 060506CQ5 1.244308 5.120348 948.438781
B-6 952,222.98 6.500000% 060506CH3 1.246214 5.128192 949.891732
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 98,592,189.90 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 1999-2 Trust
BANK OF AMERICA, FSB, SERVICER
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 86,237,523.20 86,237,523.20
Loan count 277 277
Avg loan rate 7.033822% 7.03
Prepay amount 12,225,469.86 12,225,469.86
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 22,790.12 22,790.12
Sub servicer fees 0.00 0.00
Trustee fees 287.56 287.56
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 1,236,870.88 1,236,870.88
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 80.739157% 100.000000% 79,582,393.52
-----------------------------------------------------------------------------
Junior 19.260843% 0.000000% 18,984,889.08
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 4 1,480,997.27
60 to 89 days 1 266,086.56
90 or more 1 363,831.06
Foreclosure 0 0.00
Totals: 6 2,110,914.89
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 12,884,034.26 12,884,034.26
Principal remittance amount 12,354,666.70 12,354,666.70
Interest remittance amount 529,367.56 529,367.56