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
BANK OF AMERICA MORTGAGE SECURITIES, INC.
(Depositor)
North Carolina 333-67267-10 13-4086122
(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
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-11 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 1999-11 Trust. The monthly distributions
were made pursuant to the terms of the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement") dated as of September 1, 1999 by and among
BANK OF AMERICA 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 1999-11 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 1999-11 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
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MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-11 Trust
Bank of America, N.A., 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 94,169,205.62 7.250000% 688,009.10 568,938.95 1,256,948.05 0.00 0.00
A2 9,310,999.40 7.250000% 58,691.44 56,253.95 114,945.39 0.00 0.00
A3 14,978,780.00 7.250000% 0.00 90,496.80 90,496.80 0.00 0.00
A4 13,004,000.00 7.250000% 0.00 78,565.83 78,565.83 0.00 0.00
A5 21,200,000.00 7.250000% 0.00 128,083.33 128,083.33 0.00 0.00
A6 91,247,118.31 7.250000% 620,466.07 551,284.67 1,171,750.75 0.00 0.00
A7 9,450,070.30 7.250000% 62,284.45 57,094.17 119,378.62 0.00 0.00
A8 10,848,000.00 7.250000% 0.00 65,540.00 65,540.00 0.00 0.00
A9 10,309,149.70 7.250000% 0.00 0.00 0.00 0.00 0.00
A10 5,000,000.00 7.250000% 0.00 30,208.33 30,208.33 0.00 0.00
A11 35,000,000.00 7.250000% 0.00 211,458.33 211,458.33 0.00 0.00
APO 3,651,050.66 0.000000% 35,620.41 0.00 35,620.41 0.00 0.00
Residual AR 0.00 7.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,222,792.52 7.250000% 7,512.81 55,721.04 63,233.85 0.00 0.00
B2 2,603,919.27 7.250000% 2,121.13 15,732.01 17,853.14 0.00 0.00
B3 1,389,219.69 7.250000% 1,131.65 8,393.20 9,524.85 0.00 0.00
B4 1,042,162.66 7.250000% 848.94 6,296.40 7,145.34 0.00 0.00
B5 695,105.64 7.250000% 566.23 4,199.60 4,765.82 0.00 0.00
B6 694,464.36 7.250000% 565.70 4,195.72 4,761.43 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 333,816,038.14 - 1,477,817.93 1,932,462.35 3,410,280.28 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 93,481,196.52 0.00
A2 9,252,307.96 0.00
A3 14,978,780.00 0.00
A4 13,004,000.00 0.00
A5 21,200,000.00 0.00
A6 90,626,652.24 0.00
A7 9,387,785.86 0.00
A8 10,848,000.00 0.00
A9 10,371,434.14 0.00
A10 5,000,000.00 0.00
A11 35,000,000.00 0.00
APO 3,615,430.25 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 9,215,279.71 0.00
B2 2,601,798.14 0.00
B3 1,388,088.04 0.00
B4 1,041,313.73 0.00
B5 694,539.41 0.00
B6 693,898.65 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 332,400,504.66 -
- --------------------------------------------------------------------------------
Payment Date: 09/25/00
------------------------------------------------------------
MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-11 Trust
Bank of America, N.A., 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 94,169,205.62 7.250000% 060506JS2 6.728959 5.564413 914.277297
A2 9,310,999.40 7.250000% 060506JT0 5.869144 5.625395 925.230796
A3 14,978,780.00 7.250000% 060506JU7 0.000000 6.041667 1,000.000000
A4 13,004,000.00 7.250000% 060506JV5 0.000000 6.041667 1,000.000000
A5 21,200,000.00 7.250000% 060506JW3 0.000000 6.041667 1,000.000000
A6 91,247,118.31 7.250000% 060506JX1 6.297166 5.595038 919.778062
A7 9,450,070.30 7.250000% 060506JY9 6.160068 5.646739 928.472540
A8 10,848,000.00 7.250000% 060506JZ6 0.000000 6.041667 1,000.000000
A9 10,309,149.70 7.250000% 060506KA3 0.000000 0.000000 1,074.958297
A10 5,000,000.00 7.250000% 060506KB7 0.000000 6.041667 1,000.000000
A11 35,000,000.00 7.250000% 060506KC5 0.000000 6.041667 1,000.000000
APO 3,651,050.66 0.000000% 060506KD3 9.649594 0.000000 979.422519
Residual AR 0.00 7.250000% 060506KE1 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,222,792.52 7.250000% 060506KF8 0.807742 5.990865 990.783756
B2 2,603,919.27 7.250000% 060506KG6 0.807742 5.990865 990.783756
B3 1,389,219.69 7.250000% 060506KH4 0.807742 5.990865 990.783756
B4 1,042,162.66 7.250000% 060506KJ0 0.807742 5.990865 990.783756
B5 695,105.64 7.250000% 060506KK7 0.807742 5.990865 990.783756
B6 694,464.36 7.250000% 060506KL5 0.807742 5.990865 990.783756
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 333,816,038.14 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
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MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-11 Trust
Bank of America, N.A., Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 332,400,504.40 332,400,504.40
Loan count 986 986
Avg loan rate 7.642254% 7.64
Prepay amount 1,143,327.17 1,143,327.17
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 126,917.57 126,917.57
Sub servicer fees 0.00 0.00
Trustee fees 1,112.72 1,112.72
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 0.00 0.00
Fraud 7,000,776.86 7,000,776.86
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.316128% 100.000000% 318,168,374.00
-----------------------------------------------------------------------------
Junior 4.683872% 0.000000% 15,634,917.69
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 1 260,445.91
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 1 260,445.91
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 3,410,280.28 3,410,280.28
Principal remittance amount 1,477,817.93 1,477,817.93
Interest remittance amount 1,932,462.35 1,932,462.35