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): January 25, 2004
BOA
(Depositor)
(Issuer in respect of Mortgage Pass-Through Certificates, Series 1998-7 Trust)
(Exact name of registrant as specified in charter)
North Carolina 333-53933-05 13-4048100
(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 1998-7 Trust
On January 25, 2004, The Bank of New York, as Trustee for BOA, Mortgage
Pass-Through Certificates Series 1998-7 Trust, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of December 1, 1998, among BOA as Depositor, BA
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 1998-7 Trust relating to the distribution date of
January 25, 2004 prepared by The Bank of New York, as
Trustee under the Pooling and Servicing Agreement dated as
of December 1, 1998.
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: January 25, 2004
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 January 25, 2004
Payment Date: 01/25/04
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-7 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 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-2 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-3 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-4 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-5 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-6 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
A-7 7,684,609.69 6.250000% 2,117,200.03 40,024.01 2,157,224.03 0.00 0.00
Residual R 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 7,313,562.83 6.250000% 264,699.47 38,091.47 302,790.94 0.00 0.00
B-2 3,187,938.04 6.250000% 115,380.90 16,603.84 131,984.75 0.00 0.00
B-3 1,500,206.52 6.250000% 54,296.91 7,813.58 62,110.49 0.00 0.00
B-4 1,312,680.59 6.250000% 47,509.79 6,836.88 54,346.67 0.00 0.00
B-5 750,103.73 6.250000% 27,148.47 3,906.79 31,055.26 0.00 0.00
B-6 917,586.23 6.250000% 33,210.16 4,779.09 37,989.25 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 22,666,687.63 - 2,659,445.73 118,055.66 2,777,501.39 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A-1 0.00 0.00
A-2 0.00 0.00
A-3 0.00 0.00
A-4 0.00 0.00
A-5 0.00 0.00
A-6 0.00 0.00
A-7 5,567,409.67 0.00
Residual R 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B-1 7,048,863.36 0.00
B-2 3,072,557.14 0.00
B-3 1,445,909.61 0.00
B-4 1,265,170.80 0.00
B-5 722,955.25 0.00
B-6 884,376.07 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 20,007,241.90 -
- --------------------------------------------------------------------------------
Payment Date: 01/25/04
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-7 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 0.00 6.250000% 055240LQ6 0.000000 0.000000 0.000000
A-2 0.00 6.250000% 055240LR4 0.000000 0.000000 0.000000
A-3 0.00 6.250000% 055240LS2 0.000000 0.000000 0.000000
A-4 0.00 6.250000% 055240LT0 0.000000 0.000000 0.000000
A-5 0.00 6.250000% 055240LU7 0.000000 0.000000 0.000000
A-6 0.00 6.250000% 055240LV5 0.000000 0.000000 0.000000
A-7 7,684,609.69 6.250000% 055240LW3 52.930001 1.000600 139.185242
Residual R 0.00 6.250000% 055240MA0 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B-1 7,313,562.83 6.250000% 055240LX1 33.867009 4.873619 901.867789
B-2 3,187,938.04 6.250000% 055240LY9 33.867009 4.873619 901.867789
B-3 1,500,206.52 6.250000% 055240LZ6 33.867009 4.873619 901.867790
B-4 1,312,680.59 6.250000% 055240MB8 33.867009 4.873619 901.867787
B-5 750,103.73 6.250000% 055240MC6 33.867009 4.873619 901.867785
B-6 917,586.23 6.250000% 055240MD4 33.143076 4.769441 882.589678
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 22,666,687.63 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BA MORTGAGE SECURITIES, INC.
Mortgage Pass-Through Certificates, Series 1998-7 Trust
Bank of America, FSB, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 20,007,284.29 20,007,284.29
Loan count 71 71
Avg loan rate 7.082847% 7.08
Prepay amount 2,627,244.68 2,627,244.68
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 11,265.58 11,265.58
Sub servicer fees 0.00 0.00
Trustee fees 85.00 85.00
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 9,851.06 9,851.06
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00
Fraud 0.00 0.00
Special Hazard 998,383.30 998,383.30
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 34.733575% 100.000000% 7,684,609.69
-----------------------------------------------------------------------------
Junior 65.266425% 0.000000% 14,439,832.24
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 2 583,472.86
60 to 89 days 2 574,285.16
90 or more 1 237,691.95
Foreclosure 0 0.00
Totals: 5 1,395,449.97
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 2,777,501.39 2,777,501.39
Principal remittance amount 2,659,445.73 2,659,445.73
Interest remittance amount 118,055.66 118,055.66