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): September 25, 2000
BA MORTGAGE SECURITIES, INC.
(Depositor)
North Carolina 333-53933-04 13-4036541
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
101 N. Tryon St. 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
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates
Series 1998-6 Trust
On September 25, 2000, The Bank of New York, as Trustee for Mortgage
Pass-Through Certificates made a monthly distribution of principal and/or
interest to the Holders of the Series 1998-6 Trust. The monthly distributions
were made pursuant to the terms of the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement") dated as of November 1, 1998 by and among BA
MORTGAGE SECURITIES, INC. as Depositor, EquiCredit Corporation of America, as
Transferor and Initial Servicer, Bank of America, N.A., as Advancing Party,
Fairbanks Capital Corp., as Expected Successor Servicer and The Bank of New
York, as Trustee.
All capitalized terms used, but not defined herein, shall have the meanings
assigned to them in the Pooling and Servicing Agreement.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of Series 1998-6 Trust relating to the
Distribution Date of September 25, 2000 prepared by the
Trustee pursuant to the terms of the Pooling and Servicing
Agreement.
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: September 25, 2000
By: /s/ Diane Pickett
------------------------------
Name: Diane Pickett
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Report to Holders of Series 1998-6 Trust relating to the
Distribution Date of September 25, 2000 prepared by the
Trustee pursuant to the terms of the Pooling and Servicing
Agreement.
99 Monthly Remittance Statement dated September 25, 2000
Payment Date: 09/25/00
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 1998-6 Trust
Bank of America, FSB, Master 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 83,147,023.44 6.250000% 890,203.35 433,057.41 1,323,260.76 0.00 0.00
A-2 137,703,072.48 6.250000% 1,234,242.22 717,203.50 1,951,445.72 0.00 0.00
A-3 3,780,005.00 7.000000% 0.00 22,050.03 22,050.03 0.00 0.00
A-4 38,457,652.00 6.250000% 0.00 200,300.27 200,300.27 0.00 0.00
A-5 9,871,494.00 6.750000% 0.00 55,527.15 55,527.15 0.00 0.00
A-6 2,381,997.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-7 4,560,673.00 6.500000% 0.00 24,703.65 24,703.65 0.00 0.00
A-8 15,536,848.07 6.250000% 172,484.28 80,921.08 253,405.36 0.00 0.00
A-9 8,119,284.58 6.500000% 72,773.71 43,979.46 116,753.17 0.00 0.00
A-10 324,771.77 0.000000% 2,910.95 0.00 2,910.95 0.00 0.00
A-11 3,780,006.00 6.500000% 0.00 20,475.03 20,475.03 0.00 0.00
A-12 4,839,027.00 7.000000% 0.00 28,227.66 28,227.66 0.00 0.00
A-13 179,224.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-14 2,244,655.00 6.250000% 0.00 11,690.91 11,690.91 0.00 0.00
A-15 3,093,004.00 6.500000% 0.00 16,753.77 16,753.77 0.00 0.00
A-16 2,328,283.00 7.000000% 0.00 13,581.65 13,581.65 0.00 0.00
A-17 179,099.00 0.000000% 0.00 0.00 0.00 0.00 0.00
A-18 1,893,933.00 7.420000% 0.00 11,710.82 11,710.82 0.00 0.00
A-19 350,729.00 3.132000% 0.00 915.40 915.40 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate M 7,667,392.79 6.250000% 7,531.92 39,934.34 47,466.25 0.00 0.00
B-1 3,342,197.91 6.250000% 3,283.14 17,407.28 20,690.42 0.00 0.00
B-2 1,572,798.67 6.250000% 1,545.01 8,191.66 9,736.67 0.00 0.00
B-3 1,179,598.51 6.250000% 1,158.76 6,143.74 7,302.50 0.00 0.00
B-4 982,998.93 6.250000% 965.63 5,119.79 6,085.42 0.00 0.00
B-5 983,001.45 6.250000% 965.63 5,119.80 6,085.43 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 338,498,769.61 - 2,388,064.60 1,763,014.41 4,151,079.01 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 82,256,820.09 0.00
A-2 136,468,830.25 0.00
A-3 3,780,005.00 0.00
A-4 38,457,652.00 0.00
A-5 9,871,494.00 0.00
A-6 2,381,997.00 0.00
A-7 4,560,673.00 0.00
A-8 15,364,363.79 0.00
A-9 8,046,510.87 0.00
A-10 321,860.82 0.00
A-11 3,780,006.00 0.00
A-12 4,839,027.00 0.00
A-13 179,224.00 0.00
A-14 2,244,655.00 0.00
A-15 3,093,004.00 0.00
A-16 2,328,283.00 0.00
A-17 179,099.00 0.00
A-18 1,893,933.00 0.00
A-19 350,729.00 0.00
Residual R 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate M 7,659,860.88 0.00
B-1 3,338,914.77 0.00
B-2 1,571,253.66 0.00
B-3 1,178,439.76 0.00
B-4 982,033.30 0.00
B-5 982,035.82 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 336,110,705.01 -
- --------------------------------------------------------------------------------
Payment Date: 09/25/00
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 1998-6 Trust
Bank of America, FSB, Master 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 83,147,023.44 6.250000% 055240KN4 8.371574 4.072521 773.552488
A-2 137,703,072.48 6.250000% 055240KP9 7.266462 4.222455 803.444874
A-3 3,780,005.00 7.000000% 055240KQ7 0.000000 5.833333 1,000.000000
A-4 38,457,652.00 6.250000% 055240KR5 0.000000 5.208333 1,000.000000
A-5 9,871,494.00 6.750000% 055240KS3 0.000000 5.625000 1,000.000000
A-6 2,381,997.00 0.000000% 055240KT1 0.000000 0.000000 1,000.000000
A-7 4,560,673.00 6.500000% 055240KU8 0.000000 5.416667 1,000.000000
A-8 15,536,848.07 6.250000% 055240KV6 8.611297 4.039994 767.067588
A-9 8,119,284.58 6.500000% 055240KW4 7.266462 4.391353 803.444875
A-10 324,771.77 0.000000% 055240KX2 7.266462 0.000000 803.444865
A-11 3,780,006.00 6.500000% 055240KY0 0.000000 5.416667 1,000.000000
A-12 4,839,027.00 7.000000% 055240KZ7 0.000000 5.833333 1,000.000000
A-13 179,224.00 0.000000% 055240LA1 0.000000 0.000000 1,000.000000
A-14 2,244,655.00 6.250000% 055240LB9 0.000000 5.208333 1,000.000000
A-15 3,093,004.00 6.500000% 055240LC7 0.000000 5.416667 1,000.000000
A-16 2,328,283.00 7.000000% 055240LD5 0.000000 5.833333 1,000.000000
A-17 179,099.00 0.000000% 055240LE3 0.000000 0.000000 1,000.000000
A-18 1,893,933.00 7.420000% 055240LF0 0.000000 6.183333 1,000.000000
A-19 350,729.00 3.132000% 055240LG8 0.000000 2.610000 1,000.000000
Residual R 0.00 6.250000% 055240LL7 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate M 7,667,392.79 6.250000% 055240LH6 0.964183 5.112113 980.561472
B-1 3,342,197.91 6.250000% 055240LJ2 0.964183 5.112113 980.561472
B-2 1,572,798.67 6.250000% 055240LK9 0.964183 5.112113 980.561471
B-3 1,179,598.51 6.250000% 055240LM5 0.964183 5.112113 980.561473
B-4 982,998.93 6.250000% 055240LN3 0.964183 5.112113 980.561477
B-5 983,001.45 6.250000% 055240LP8 0.964183 5.112113 980.561474
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 338,498,769.61 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 1998-6 Trust
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 336,110,711.55 336,110,711.55
Loan count 1026 1026
Avg loan rate 7.241705% 7.24
Prepay amount 2,055,546.84 2,055,546.84
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 273,623.38 273,623.38
Sub servicer fees 0.00 0.00
Trustee fees 1,269.37 1,269.37
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 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 100,000.00 100,000.00
Fraud 4,006,005.38 4,006,005.38
Special Hazard 3,799,375.28 3,799,375.28
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.357958% 100.000000% 322,770,781.33
-----------------------------------------------------------------------------
Junior 4.642042% 0.000000% 15,712,538.19
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 0 0.00
60 to 89 days 1 223,852.28
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 223,852.28
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 4,151,079.01 4,151,079.01
Principal remittance amount 2,388,064.60 2,388,064.60
Interest remittance amount 1,763,014.41 1,763,014.41