8-K 1 boa9912_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 BANK OF AMERICA MORTGAGE SECURITIES, INC. (Depositor) North Carolina 333-67267-11 13-4094909 (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 1999-12 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 1999-12 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, 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 1999-12 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 1999-12 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 1999-12 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 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 A2 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 A3 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 A4 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 A5 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 A6 1714,~~263~~232,~~244~~445.2159 7.500000% 31,~~030~~701,~~798~~827.6162 ~~106~~88,~~863~~952.0378 31,~~137~~790,~~661~~780.6440 0.00 ~~1,032~~0.2500 APO ~~490~~413,~~308~~559.2365 0.000000% 76119,~~748~~889.5726 0.00 76119,~~748~~889.5726 0.00 0.00 Residual AR 0.00 7.500000% 0.00 0.00 0.00 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate B1 5,~~648~~642,~~542~~762.3911 7.500000% 5,~~780~~801.2816 3435,~~965~~267.6426 4041,~~745~~068.9242 0.00 ~~337~~0.7500 B2 1,~~629~~627,~~591~~923.4585 7.500000% 1,~~667~~673.6062 10,~~087~~174.5152 11,~~755~~848.1015 0.00 970.4400 B3 ~~977~~976,947.9519 7.500000% 1,~~000~~004.7637 6,~~053~~105.7092 7,~~054~~110.4529 0.00 580.4800 B4 ~~652~~651,~~608~~941.9007 7.500000% ~~667~~670.8324 4,~~039~~074.7863 4,~~707~~744.6187 0.00 390.0200 B5 ~~435~~434,~~394~~949.7015 7.500000% ~~445~~447.5516 2,~~695~~718.1843 3,~~140~~165.7359 0.00 260.0300 B6 265,~~492~~221.8314 7.500000% ~~271~~272.6867 1,~~643~~657.4663 1,~~915~~930.1430 0.00 150.8800 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 2724,~~363~~245,~~130~~749.6476 - 31,~~117~~831,~~380~~586.8809 ~~166~~148,~~348~~951.2919 31,~~283~~980,~~729~~537.1728 - ~~1,606.85~~- ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior A1 0.00 0.00 A2 0.00 0.00 A3 0.00 0.00 A4 0.00 0.00 A5 0.00 0.00 A6 1412,~~232~~530,~~445~~617.5998 ~~1,032~~0.2500 APO ~~413~~293,~~559~~670.6540 0.00 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- Subordinate B1 5,~~642~~636,~~762~~960.1195 ~~337~~0.7500 B2 1,~~627~~626,~~923~~250.8523 970.4400 B3 ~~976~~975,~~947~~942.1982 580.4800 B4 651,~~941~~270.0783 390.0200 B5 434,~~949~~501.1599 260.0300 B6 ~~265~~264,~~221~~948.1448 150.8800 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 2422,~~245~~414,~~749~~163.7667 ~~1,606.85~~- --------------------------------------------------------------------------------

Payment Date: 05/25/03 ------------------------------------------------------------ MORTGAGE PASS-THROUGH CERTIFICATES Series 1999-12 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 0.00 7.500000% 060506KM3 0.000000 0.000000 0.000000 A2 0.00 7.500000% 060506KN1 0.000000 0.000000 0.000000 A3 0.00 7.500000% 060506KP6 0.000000 0.000000 0.000000 A4 0.00 7.500000% 060506KQ4 0.000000 0.000000 0.000000 A5 0.00 7.500000% 060506KR2 0.000000 0.000000 0.000000 A6 1714,~~263~~232,~~244~~445.2159 7.500000% 060506KS0 ~~134~~75.~~702161~~636783 43.~~749468~~953457 ~~632~~556.~~553137~~916355 APO ~~490~~413,~~308~~559.2365 0.000000% 060506KT8 4265.~~009589~~623350 0.000000 ~~226~~160.~~368657~~745307 Residual AR 0.00 7.500000% 060506KU5 0.000000 0.000000 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate B1 5,~~648~~642,~~542~~762.3911 7.500000% 060506KV3 0.~~987913~~991482 56.~~976011~~027562 ~~964~~963.~~409863~~418381 B2 1,~~629~~627,~~591~~923.4585 7.500000% 060506KW1 0.~~987913~~991482 56.~~976011~~027562 ~~964~~963.~~409863~~418382 B3 ~~977~~976,947.9519 7.500000% 060506KX9 0.~~987913~~991482 56.~~976011~~027562 ~~964~~963.~~409864~~418382 B4 ~~652~~651,~~608~~941.9007 7.500000% 060506KY7 0.~~987913~~991482 56.~~976011~~027562 ~~964~~963.~~409867~~418385 B5 ~~435~~434,~~394~~949.7015 7.500000% 060506KZ4 0.~~987914~~991482 56.~~976015~~027566 ~~964~~963.~~410528~~419046 B6 265,~~492~~221.8314 7.500000% 060506LA8 0.~~602795~~604973 3.~~646383~~677838 ~~588~~587.~~454105~~849133 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 2724,~~363~~245,~~130~~749.6476 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ MORTGAGE PASS-THROUGH CERTIFICATES Series 1999-12 Trust Bank of America, N.A., Servicer ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Total ----- Prin balance 22,414,163.78 22,414,163.78 Loan count 65 65 Avg loan rate 7.836458% 7.84 Prepay amount 1,806,593.59 1,806,593.59 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Total ----- Master serv fees 6,419.09 6,419.09 Sub servicer fees 0.00 0.00 Trustee fees 90.92 90.92 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 174,498.99 174,498.99 Coverage Amounts Total ---------------- ----- Bankruptcy 0.00 0.00 Fraud 2,250,137.38 2,250,137.38 Special Hazard 1,488,885.14 1,488,885.14 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 60.431084% 100.000000% 14,646,005.25 ----------------------------------------------------------------------------- Junior 39.568916% 0.000000% 9,589,875.29 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 2 544,444.19 60 to 89 days 2 557,033.78 90 or more 1 546,042.77 Foreclosure 2 527,864.40 Totals: 7 2,175,385.14 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 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 1,980,537.28 1,980,537.28 Principal remittance amount 1,831,586.09 1,831,586.09 Interest remittance amount 148,951.19 148,951.19

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