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): November 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 November 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 November 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: November 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 November 25, 2000 prepared by the
Trustee pursuant to the terms of the Pooling and Servicing
Agreement.
99 Monthly Remittance Statement dated November 25, 2000
Payment Date: 11/25/00
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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 92,888,807.50 7.250000% 864,554.30 561,203.21 1,425,757.51 0.00 0.00
A2 9,201,773.51 7.250000% 73,751.84 55,594.05 129,345.89 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 90,092,419.05 7.250000% 779,679.53 544,308.37 1,323,987.89 0.00 0.00
A7 9,325,125.11 7.250000% 63,039.32 56,339.30 119,378.62 0.00 0.00
A8 10,848,000.00 7.250000% 0.00 65,540.00 65,540.00 0.00 0.00
A9 10,434,094.89 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 3,606,155.10 0.000000% 4,498.34 0.00 4,498.34 0.00 0.00
Residual AR 0.00 7.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,207,744.26 7.250000% 7,600.76 55,630.12 63,230.88 0.00 0.00
B2 2,599,670.62 7.250000% 2,145.96 15,706.34 17,852.30 0.00 0.00
B3 1,386,952.98 7.250000% 1,144.89 8,379.51 9,524.40 0.00 0.00
B4 1,040,462.23 7.250000% 858.87 6,286.13 7,145.00 0.00 0.00
B5 693,971.48 7.250000% 572.86 4,192.74 4,765.60 0.00 0.00
B6 693,331.24 7.250000% 572.33 4,188.88 4,761.20 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 331,201,287.98 - 1,798,418.99 1,916,181.27 3,714,600.26 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 92,024,253.20 0.00
A2 9,128,021.67 0.00
A3 14,978,780.00 0.00
A4 13,004,000.00 0.00
A5 21,200,000.00 0.00
A6 89,312,739.53 0.00
A7 9,262,085.78 0.00
A8 10,848,000.00 0.00
A9 10,497,134.22 0.00
A10 5,000,000.00 0.00
A11 35,000,000.00 0.00
APO 3,601,656.77 0.00
Residual AR 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 9,200,143.50 0.00
B2 2,597,524.66 0.00
B3 1,385,808.09 0.00
B4 1,039,603.36 0.00
B5 693,398.62 0.00
B6 692,758.92 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 329,465,908.31 -
- --------------------------------------------------------------------------------
Payment Date: 11/25/00
------------------------------------------------------------
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 92,888,807.50 7.250000% 060506JS2 8.455630 5.488755 900.027905
A2 9,201,773.51 7.250000% 060506JT0 7.375184 5.559405 912.802167
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 90,092,419.05 7.250000% 060506JX1 7.913038 5.524235 906.443044
A7 9,325,125.11 7.250000% 060506JY9 6.234727 5.572080 916.040529
A8 10,848,000.00 7.250000% 060506JZ6 0.000000 6.041667 1,000.000000
A9 10,434,094.89 7.250000% 060506KA3 0.000000 0.000000 1,087.986615
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 3,606,155.10 0.000000% 060506KD3 1.218603 0.000000 975.691274
Residual AR 0.00 7.250000% 060506KE1 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 9,207,744.26 7.250000% 060506KF8 0.817198 5.981090 989.156381
B2 2,599,670.62 7.250000% 060506KG6 0.817198 5.981090 989.156381
B3 1,386,952.98 7.250000% 060506KH4 0.817198 5.981090 989.156381
B4 1,040,462.23 7.250000% 060506KJ0 0.817198 5.981090 989.156381
B5 693,971.48 7.250000% 060506KK7 0.817198 5.981090 989.156381
B6 693,331.24 7.250000% 060506KL5 0.817198 5.981090 989.156381
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 331,201,287.98 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
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MORTGAGE PASS-THROUGH CERTIFICATES
Series 1999-11 Trust
Bank of America, N.A., Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 329,465,908.00 329,465,908.00
Loan count 975 975
Avg loan rate 7.641470% 7.64
Prepay amount 1,461,702.36 1,461,702.36
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 126,006.03 126,006.03
Sub servicer fees 0.00 0.00
Trustee fees 1,104.00 1,104.00
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 3,500,388.43 3,500,388.43
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 95.286901% 100.000000% 315,579,155.17
-----------------------------------------------------------------------------
Junior 4.713099% 0.000000% 15,609,237.14
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 3,280,612.48
60 to 89 days 0 0.00
90 or more 1 286,500.38
Foreclosure 0 0.00
Totals: 11 3,567,112.86
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 3,714,600.26 3,714,600.26
Principal remittance amount 1,798,418.99 1,798,418.99
Interest remittance amount 1,916,181.27 1,916,181.27