8-K 1 boa9804_8k0305.txt 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): May 25, 2003 BA MORTGAGE SECURITIES, INC. (Depositor) North Carolina 333-53933-02 13-4040896/Man (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: 212-815-6140 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 1998-4 Trust On May 25, 2003, 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 1998-4 Trust. The monthly distributions were made pursuant to the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement") dated as of July 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 1998-4 Trust relating to the Distribution Date of May 25, 2003 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: May 25, 2003 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 1998-4 Trust relating to the Distribution Date of May 25, 2003 prepared by the Trustee pursuant to the terms of the Pooling and Servicing Agreement. 99 Monthly Remittance Statement dated May 25, 2003 Payment Date: 05/25/03 ------------------------------------------------------------ Mortgage Pass-Through Certificates Series 1998-4 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 IA-1 0.00 6.650000% 0.00 0.00 0.00 0.00 0.00 IA-2 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00 IA-3 0.00 6.650000% 0.00 0.00 0.00 0.00 0.00 IA-4 0.00 6.600000% 0.00 0.00 0.00 0.00 0.00 IA-5 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IA-6 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00 IA-7 0.00 1.~~806880~~820000% 0.00 0.00 0.00 0.00 0.00 IA-8 0.00 32.~~156574~~088451% 0.00 0.00 0.00 0.00 0.00 IA-9 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 IA-10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00 IA-11 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00 IA-12 3122,~~467~~273,~~149~~730.2336 6.750000% 96,~~193~~954,~~418~~190.8701 ~~177~~123,~~002~~728.7189 97,~~370~~077,~~421~~918.5991 0.00 01,560.0084 IIA-1 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IIA-2 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IIA-3 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IIA-4 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IIA-5 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 IIA-6 1714,~~808~~192,~~042~~721.6844 6.500000% 32,~~615~~021,~~321~~561.2476 9276,~~898~~877.2024 32,~~708~~098,~~219~~439.4401 0.00 ~~3,562~~0.0300 I-X-1 0.00 0.~~237188~~225016% 0.00 0.00 0.00 0.00 0.00 I-X-2 0.00 0.~~237188~~225016% 0.00 0.00 0.00 0.00 0.00 I-X-3 4132,~~047~~606,~~714~~271.1648 0.~~237188~~225016% 0.00 86,~~113~~037.3494 86,~~113~~037.3494 0.00 076.0017 I-X-4 0.00 0.~~237188~~225016% 0.00 0.00 0.00 0.00 0.00 II-X ~~102~~101,~~477~~652.8113 6.500000% 0.00 ~~534~~550.5962 ~~534~~550.5962 0.00 200.5000 I-PO 3419,~~467~~962.6244 0.000000% 1411,~~505~~030.1871 0.00 1411,~~505~~030.1871 0.00 0.00 II-PO ~~111~~97,~~954~~345.7152 0.000000% 1421,~~609~~470.2044 0.00 1421,~~609~~470.2044 0.00 0.00 Residual R-I 0.00 6.750000% 0.00 0.0004 0.0004 0.00 0.00 R-II 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00 R-III 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate IM 6,~~520~~510,~~311~~976.4836 6.750000% 9,~~335~~317.1257 36,~~676~~167.7598 4645,~~011~~485.8756 0.00 0456.0026 IB-1 2,~~995~~991,~~640~~351.0621 6.750000% 4,~~288~~280.8579 16,~~850~~616.4873 2120,~~139~~897.3352 0.00 0209.0062 IB-2 1,~~586~~583,~~149~~878.3849 6.750000% 2,~~270~~266.8962 8,~~922~~798.0933 11,~~192~~064.9895 0.00 0110.0099 IB-3 1,~~233~~232,~~776~~010.7030 6.750000% 1,~~766~~763.4008 6,~~939~~843.9972 8,~~706~~606.3980 0.00 086.0033 IB-4 ~~881~~880,~~404~~142.0312 6.750000% 1,~~261~~259.9053 4,~~957~~889.9012 6,~~219~~148.8066 0.00 061.0068 IB-5 ~~881~~880,~~401~~139.5366 6.750000% 1,~~261~~259.8753 4,~~957~~889.8811 6,~~219~~148.7664 0.00 061.0068 IIM ~~956~~949,~~187~~861.2281 6.500000% 6,~~325~~322.4132 45,~~988~~145.0908 11,~~313~~467.5040 0.00 ~~191~~0.2600 IIB-1 ~~351~~349,~~790~~462.1193 6.500000% 2,~~327~~326.1804 1,~~835~~892.1692 4,~~162~~218.3496 0.00 700.3700 IIB-2 ~~251~~250,~~832~~166.1320 6.500000% 1,665.9312 1,~~313~~355.7207 23,~~979~~020.6518 0.00 500.3700 IIB-3 ~~301~~299,~~423~~429.6970 6.500000% 1,993.9902 1,~~572~~621.4291 3,~~566~~614.4193 0.00 600.2900 IIB-4 ~~151~~150,099.2872 6.500000% 999.5607 ~~788~~813.2304 1,~~787~~812.7911 0.00 300.2200 IIB-5 ~~251~~250,~~746~~081.8952 6.500000% 1,~~665~~664.3755 1,~~313~~354.2761 23,~~978~~019.6416 0.00 500.3600 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 6552,~~784~~911,~~376~~359.7477 - 129,~~873~~043,~~016~~370.9617 ~~369~~297,~~664~~582.8436 139,~~242~~340,~~681~~952.8053 - 42,~~035~~623.4057 ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior IA-1 0.00 0.00 IA-2 0.00 0.00 IA-3 0.00 0.00 IA-4 0.00 0.00 IA-5 0.00 0.00 IA-6 0.00 0.00 IA-7 0.00 0.00 IA-8 0.00 0.00 IA-9 0.00 0.00 IA-10 0.00 0.00 IA-11 0.00 0.00 IA-12 2215,~~273~~319,~~730~~540.3634 01,560.0084 IIA-1 0.00 0.00 IIA-2 0.00 0.00 IIA-3 0.00 0.00 IIA-4 0.00 0.00 IIA-5 0.00 0.00 IIA-6 1412,~~192~~171,~~721~~159.4467 ~~3,562~~0.0300 I-X-1 0.00 0.00 I-X-2 0.00 0.00 I-X-3 3226,~~606~~566,~~271~~684.4892 076.0017 I-X-4 0.00 0.00 II-X ~~101~~96,~~652~~470.1390 200.5000 I-PO 198,~~962~~931.4473 0.00 II-PO 9775,~~345~~875.5208 0.00 Residual R-I 0.00 0.00 R-II 0.00 0.00 R-III 0.00 0.00 -------------------------------------------------------------------------------- Subordinate IM 6,~~510~~501,~~976~~658.3678 0456.0026 IB-1 2,~~991~~987,~~351~~070.2142 0209.0062 IB-2 1,~~583~~581,~~878~~611.4987 0110.0099 IB-3 1,~~232~~230,~~010~~247.3023 086.0033 IB-4 ~~880~~878,~~142~~882.1259 061.0068 IB-5 ~~880~~878,~~139~~880.6613 061.0068 IIM ~~949~~943,~~861~~539.8149 ~~191~~0.2600 IIB-1 ~~349~~347,~~462~~136.9389 700.3700 IIB-2 ~~250~~248,~~166~~501.2008 500.3700 IIB-3 ~~299~~297,~~429~~436.7068 600.2900 IIB-4 ~~150~~149,~~099~~100.7265 300.2200 IIB-5 ~~250~~248,~~081~~416.5297 500.3600 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 5243,~~911~~867,~~359~~989.7761 42,~~035~~623.4057 --------------------------------------------------------------------------------

Payment Date: 05/25/03 ------------------------------------------------------------ Mortgage Pass-Through Certificates Series 1998-4 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 IA-1 0.00 6.650000% 055240GY5 0.000000 0.000000 0.000000 IA-2 0.00 6.250000% 055240GZ2 0.000000 0.000000 0.000000 IA-3 0.00 6.650000% 055240HA6 0.000000 0.000000 0.000000 IA-4 0.00 6.600000% 055240HB4 0.000000 0.000000 0.000000 IA-5 0.00 6.500000% 055240HC2 0.000000 0.000000 0.000000 IA-6 0.00 6.750000% 055240HD0 0.000000 0.000000 0.000000 IA-7 0.00 1.~~806880~~820000% 055240HE8 0.000000 0.000000 0.000000 IA-8 0.00 32.~~156574~~088451% 055240HF5 0.000000 0.000000 0.000000 IA-9 0.00 7.500000% 055240HG3 0.000000 0.000000 0.000000 IA-10 0.00 6.750000% 055240HH1 0.000000 0.000000 0.000000 IA-11 0.00 6.750000% 055240HJ7 0.000000 0.000000 0.000000 IA-12 3122,~~467~~273,~~149~~730.2336 6.750000% 055240HK4 ~~154~~116.~~511242~~877143 2.~~974836~~079477 ~~374~~257.~~348409~~471266 IIA-1 0.00 6.500000% 055240HL2 0.000000 0.000000 0.000000 IIA-2 0.00 6.500000% 055240HM0 0.000000 0.000000 0.000000 IIA-3 0.00 6.500000% 055240HN8 0.000000 0.000000 0.000000 IIA-4 0.00 6.500000% 055240HP3 0.000000 0.000000 0.000000 IIA-5 0.00 6.500000% 055240HQ1 0.000000 0.000000 0.000000 IIA-6 1714,~~808~~192,~~042~~721.6844 6.500000% 055240HR9 ~~139~~77.~~050817~~752376 32.~~573008~~956817 ~~545~~468.~~873901~~121526 I-X-1 0.00 0.~~237188~~225016% 055240HS7 0.000000 0.000000 0.000000 I-X-2 0.00 0.~~237188~~225016% 055240HT5 0.000000 0.000000 0.000000 I-X-3 4132,~~047~~606,~~714~~271.1648 0.~~237188~~225016% 055240HU2 0.000000 0.~~114317~~085075 ~~459~~374.~~424442~~326282 I-X-4 0.00 0.~~237188~~225016% 055240HV0 0.000000 0.000000 0.000000 II-X ~~102~~101,~~477~~652.8113 6.500000% 055240HW8 0.000000 0.~~398699~~410651 7571.~~812502~~948319 I-PO 3419,~~467~~962.6244 0.000000% 055240HX6 ~~140~~107.~~941957~~181683 0.000000 ~~193~~86.~~968279~~786596 II-PO ~~111~~97,~~954~~345.7152 0.000000% 055240HY4 5073.~~124197~~665133 0.000000 ~~333~~260.~~992712~~327579 Residual R-I 0.00 6.750000% 055240JF3 0.000000 0.~~000000~~815009 0.000000 R-II 0.00 6.500000% 055240JG1 0.000000 0.~~022160~~000000 0.000000 R-III 0.00 6.750000% 055240JH9 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate IM 6,~~520~~510,~~311~~976.4836 6.750000% 055240HZ1 1.~~352523~~349982 5.~~313931~~240218 ~~943~~941.~~346329~~996347 IB-1 2,~~995~~991,~~640~~351.0621 6.750000% 055240JA4 1.~~352523~~349982 5.~~313931~~240218 ~~943~~941.~~346329~~996347 IB-2 1,~~586~~583,~~149~~878.3849 6.750000% 055240JB2 1.~~352523~~349982 5.~~313931~~240218 ~~943~~941.~~346331~~996350 IB-3 1,~~233~~232,~~776~~010.7030 6.750000% 055240JJ5 1.~~352523~~349982 5.~~313931~~240218 ~~943~~941.~~346326~~996344 IB-4 ~~881~~880,~~404~~142.0312 6.750000% 055240JK2 1.~~352523~~349982 5.~~313931~~240218 ~~943~~941.~~346326~~996344 IB-5 ~~881~~880,~~401~~139.5366 6.750000% 055240JL0 1.~~352493~~349982 5.~~313933~~240220 ~~943~~941.~~346722~~996739 IIM ~~956~~949,~~187~~861.2281 6.500000% 055240JC0 5.~~125943~~123436 4.~~042210~~169437 ~~769~~764.~~742148~~618712 IIB-1 ~~351~~349,~~790~~462.1193 6.500000% 055240JD8 5.~~125943~~123436 4.~~042210~~169437 ~~769~~764.~~742145~~618709 IIB-2 ~~251~~250,~~832~~166.1320 6.500000% 055240JE6 5.~~125943~~123436 4.~~042210~~169437 ~~769~~764.~~742142~~618706 IIB-3 ~~301~~299,~~423~~429.6970 6.500000% 055240JM8 5.~~125943~~123436 4.~~042210~~169437 ~~769~~764.~~742158~~618722 IIB-4 ~~151~~150,099.2872 6.500000% 055240JN6 5.~~125943~~123436 4.~~042210~~169437 ~~769~~764.~~742150~~618714 IIB-5 ~~251~~250,~~746~~081.8952 6.500000% 055240JP1 5.~~125959~~123443 4.~~042223~~169449 ~~769~~764.~~744509~~621066 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 6552,~~784~~911,~~376~~359.7477 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ Mortgage Pass-Through Certificates Series 1998-4 Trust Bank of America, FSB, Master Servicer ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 29,386,823.50 14,481,165.75 43,867,989.25 Loan count 93 61 154 Avg loan rate 7.382533% 6.939109% 7.24 Prepay amount 6,933,316.06 1,947,833.10 8,881,149.16 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 0.00 2,344.92 2,344.92 Sub servicer fees 0.00 0.00 0.00 Trustee fees 136.40 62.02 198.42 Agg advances N/A N/A N/A Adv this period 0.00 0.00 0.00 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Total ----- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 0.00 Fraud 3,730,870.14 1,298,233.99 5,029,104.13 Special Hazard 1,840,267.30 1,014,354.00 2,854,621.30 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 69.187518% 100.000000% 36,583,759.75 ----------------------------------------------------------------------------- Junior 30.812482% 0.000000% 16,292,482.79 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 2 565,864.49 60 to 89 days 0 0.00 90 or more 0 0.00 Foreclosure 1 246,547.62 Totals: 3 812,412.11 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 9,340,952.53 9,340,952.53 Principal remittance amount 9,043,370.17 9,043,370.17 Interest remittance amount 297,582.36 297,582.36

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