EXHIBIT 99.1

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REMIC I
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                    REALIZED    DEFERRED         PRINCIPAL
CLASS         FACE VALUE          BALANCE     INTEREST       PRINCIPAL           TOTAL         LOSSES    INTEREST           BALANCE
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>    <C>          <C>
IA-1-L     32,400,889.00    32,400,889.00   182,255.00      136,392.17      318,647.17           0.00        0.00     32,264,496.83
IA-2-L      3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00    83,441.73            0.00       83,441.73           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    73,500,000.00   413,437.50      766,709.26    1,180,146.76           0.00        0.00     72,733,290.74
IA-6-L     25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00     2,937,483.00         0.00      505,722.25      505,722.25           0.00   16,523.34      2,448,284.09
IA-9-L      3,929,529.00     3,929,529.00    23,919.37            0.00       23,919.37           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00    80,775.00            0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00    58,330.34            0.00       58,330.34           0.00        0.00              0.00
I-PO-L         43,461.00        43,461.00         0.00           36.96           36.96           0.00        0.00         43,424.04
I-B-L       7,922,383.17     7,922,383.17    44,563.41        6,345.09       50,908.50           0.00        0.00      7,916,038.08
R-I                50.00            50.00         0.28           50.00           50.28           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   198,059,518.17   1,155,648.07  1,415,255.73    2,570,903.80           0.00   16,523.34    196,660,785.78
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                <C>              <C>         <C>             <C>            <C>             <C>               <C>
IA-1-L                       1,000.000000     5.625000        4.209519        9.834519     995.790481    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.505250        0.000000        5.505250   1,000.000000    6.606300%         6.606250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                       1,000.000000     5.625000       10.431419       16.056419     989.568581    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                       1,000.000000     0.000000      172.161762      172.161762     833.463237    6.750000%         6.750000%
IA-9-L                       1,000.000000     6.087083        0.000000        6.087083   1,000.000000    7.304500%         7.304464%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.294509        0.000000        0.294509       0.000000    6.750000%         6.750000%
I-PO-L                       1,000.000000     0.000000        0.850418        0.850418     999.149582    0.000000%         0.000000%
I-B-L                        1,000.000000     5.625001        0.800907        6.425907     999.199093    6.750000%         6.750000%
R-I                          1,000.000000     5.600000    1,000.000000    1,005.600000       0.000000    6.750000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                          May 29, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC II
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                    REALIZED    DEFERRED         PRINCIPAL
CLASS         FACE VALUE          BALANCE     INTEREST       PRINCIPAL           TOTAL         LOSSES    INTEREST           BALANCE
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>    <C>          <C>
IIA-1-L   100,392,251.00   100,392,251.00   543,791.36      344,000.80      887,792.16           0.00        0.00    100,048,250.20
II-X-L              0.00             0.00    12,707.29            0.00       12,707.29           0.00        0.00              0.00
II-PO-L       148,157.00       148,157.00         0.00          493.19          493.19           0.00        0.00        147,663.81
II-B-L      2,314,231.16     2,314,231.16    12,535.42        7,348.47       19,883.89           0.00        0.00      2,306,882.69
R-II               50.00            50.00         0.27           50.00           50.27           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16   102,854,689.16   569,034.34      351,892.46      920,926.80           0.00        0.00    102,502,796.70
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                <C>              <C>         <C>             <C>            <C>             <C>               <C>
IIA-1-L                      1,000.000000     5.416667        3.426567        8.843234     996.573433    6.500000%         6.500000%
II-X-L                           0.000000     0.123546        0.000000        0.123546       0.000000    6.500000%         6.500000%
II-PO-L                      1,000.000000     0.000000        3.328834        3.328834     996.671166    0.000000%         0.000000%
II-B-L                       1,000.000000     5.416667        3.175340        8.592007     996.824660    6.500000%         6.500000%
R-II                         1,000.000000     5.400000    1,000.000000    1,005.400000       0.000000    6.500000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                          May 29, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                    REALIZED    DEFERRED         PRINCIPAL
CLASS         FACE VALUE          BALANCE     INTEREST       PRINCIPAL           TOTAL         LOSSES    INTEREST           BALANCE
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>        <C>              <C>             <C>             <C>           <C>                    <C>    <C>           <C>
IA-1       31,022,128.00    31,022,128.00   182,255.00      130,588.25      312,843.25           0.00        0.00     30,891,539.75
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    83,441.73            0.00       83,441.73           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    73,500,000.00   413,437.50      766,709.26    1,180,146.76           0.00        0.00     72,733,290.74
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,378,761.00         0.00        5,803.92        5,803.92           0.00        0.00      1,372,957.08
IA-8        2,937,483.00     2,937,483.00         0.00      505,722.25      505,722.25           0.00   16,523.34      2,448,284.09
IA-9        3,929,529.00     3,929,529.00    23,919.37            0.00       23,919.37           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    58,330.34            0.00       58,330.34           0.00        0.00              0.00
I-PO           43,461.00        43,461.00         0.00           36.96           36.96           0.00        0.00         43,424.04
I-M         3,664,102.00     3,664,102.00    20,610.57        2,934.61       23,545.18           0.00        0.00      3,661,167.39
IB-1        1,683,506.00     1,683,506.00     9,469.72        1,348.33       10,818.05           0.00        0.00      1,682,157.67
IB-2          891,268.00       891,268.00     5,013.38          713.82        5,727.20           0.00        0.00        890,554.18
IB-3          693,208.00       693,208.00     3,899.30          555.19        4,454.49           0.00        0.00        692,652.81
IB-4          495,148.00       495,148.00     2,785.21          396.57        3,181.78           0.00        0.00        494,751.43
IB-5          495,151.17       495,151.17     2,785.23          396.57        3,181.80           0.00        0.00        494,754.60
------------------------------------------------------------------------------------------------------------------------------------
TOTALS      *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                <C>              <C>         <C>             <C>            <C>             <C>               <C>
IA-1           055240DV4     1,000.000000     5.875000        4.209519       10.084519     995.790481    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.505250        0.000000        5.505250   1,000.000000    6.606300%         6.606250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5     1,000.000000     5.625000       10.431419       16.056419     989.568581    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7     1,000.000000     0.000000        4.209519        4.209519     995.790481    0.000000%         0.000000%
IA-8           055240EC5     1,000.000000     0.000000      172.161762      172.161762     833.463237    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     6.087083        0.000000        6.087083   1,000.000000    7.304500%         7.304464%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5     1,000.000000     0.000000        0.850418        0.850418     999.149582    0.000000%         0.000000%
I-M            055240EN1     1,000.000000     5.624999        0.800908        6.425907     999.199092    6.750000%         6.750000%
IB-1           055240EP6     1,000.000000     5.624999        0.800906        6.425905     999.199094    6.750000%         6.750000%
IB-2           055240EQ4     1,000.000000     5.624997        0.800904        6.425901     999.199096    6.750000%         6.750000%
IB-3           055240EX9     1,000.000000     5.625007        0.800900        6.425907     999.199100    6.750000%         6.750000%
IB-4           055240EY7     1,000.000000     5.625005        0.800912        6.425917     999.199088    6.750000%         6.750000%
IB-5           055240EZ4     1,000.000000     5.625009        0.800907        6.425916     999.199093    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                          May 29, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>              <C>                    <C>    <C>         <C>
IIA-1     100,392,251.00   100,392,251.00     543,791.36      344,000.80      887,792.16           0.00        0.00   100,048,250.20
II-X                0.00             0.00      12,707.29            0.00       12,707.29           0.00        0.00             0.00
II-PO         148,157.00       148,157.00           0.00          493.19          493.19           0.00        0.00       147,663.81
IIM           874,264.00       874,264.00       4,735.60        2,776.08        7,511.68           0.00        0.00       871,487.92
IIB-1         462,846.00       462,846.00       2,507.08        1,469.69        3,976.77           0.00        0.00       461,376.31
IIB-2         308,564.00       308,564.00       1,671.39          979.80        2,651.19           0.00        0.00       307,584.20
IIB-3         308,564.00       308,564.00       1,671.39          979.80        2,651.19           0.00        0.00       307,584.20
IIB-4         154,282.00       154,282.00         835.69          489.90        1,325.59           0.00        0.00       153,792.10
IIB-5         205,711.16       205,711.16       1,114.27          653.20        1,767.47           0.00        0.00       205,057.96
R-III              50.00            50.00           0.28           50.00           50.28           0.00        0.00             0.00
          --------------   --------------   ------------   -------------   -------------   ------------   ---------   --------------
TOTALS    300,914,157.33   300,914,157.33   1,724,682.14    1,767,098.19    3,491,780.33           0.00   16,523.34   299,163,582.48
          ==============   ==============   ============   =============   =============   ============   =========   ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                <C>              <C>         <C>             <C>            <C>             <C>               <C>
IIA-1          055240EH4     1,000.000000     5.416667        3.426567        8.843234     996.573433    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416667        0.000000        5.416667       0.000000    6.500000%         6.500000%
II-PO          055240EM3     1,000.000000     0.000000        3.328834        3.328834     996.671166    0.000000%         0.000000%
IIM            055240ER2     1,000.000000     5.416670        3.175334        8.592004     996.824666    6.500000%         6.500000%
IIB-1          055240ES0     1,000.000000     5.416661        3.175333        8.591994     996.824667    6.500000%         6.500000%
IIB-2          055240ET8     1,000.000000     5.416672        3.175354        8.592026     996.824646    6.500000%         6.500000%
IIB-3          055240FA8     1,000.000000     5.416672        3.175354        8.592026     996.824646    6.500000%         6.500000%
IIB-4          055240FB6     1,000.000000     5.416640        3.175354        8.591994     996.824646    6.500000%         6.500000%
IIB-5          055240FC4     1,000.000000     5.416673        3.175326        8.591999     996.824674    6.500000%         6.500000%
R-III          055240EW1     1,000.000000     5.600000    1,000.000000    1,005.600000       0.000000    6.750000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                          May 29, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS


--------------------------------------------------------------------------------
Distribution Date:                          June 25, 1998
--------------------------------------------------------------------------------

MORTGAGE POOL INFORMATION:                            GROUP I          GROUP II
--------------------------                            -------          --------

BEGINNING BALANCE OF POOL                      198,059,568.52    102,854,689.43
LESS:        SCHEDULED PRINCIPAL                  (158,629.42)      (326,621.08)
             PRINCIPAL PREPAYMENTS              (1,240,152.97)       (25,271.38)
             REPURCHASES                                 0.00              0.00
             LIQUIDATIONS                                0.00              0.00
             OTHER UNSCHEDULED PRINCIPAL                 0.00              0.00
                                               --------------    --------------
ENDING BALANCE OF POOL                         196,660,786.13    102,502,796.97
                                               ==============    ==============

BEGINNING NUMBER OF LOANS IN POOL                         629               306
ENDING NUMBER OF LOANS IN POOL                            626               306

WEIGHTED AVERAGE REMAINING TERM TO MATURITY               347               177
WEIGHTED AVERAGE NET CONTRACT RATE                  7.601917%         7.138857%

CURRENT REALIZED LOSSES ON THE POOL                      0.00              0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                   0.00              0.00


<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                    <C>           <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                           GROUP I            GROUP II
----------------------                                          ---------           ---------
<S>                                                             <C>                 <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD            81,367.77           42,253.10
PLUS:        ADDITIONAL SERVICING COMPENSATION                       0.00                0.00
LESS:        AMTS. TO COVER PREPAYMENT INT. SHORTFALL           (2,202.55)               0.00
             DELINQUENT SERVICING FEES                               0.00                0.00
                                                                ---------           ---------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD             79,165.22           42,253.10
                                                                =========           =========

ADVANCED PRINCIPAL                                                   0.00                0.00
ADVANCED INTEREST                                                    0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS


Distribution Date:                          June 25, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                          114,953.63              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                          674,915.34              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                            5,109.05              0.00                0.00                 0.00                0.00
CLASS IA-8                          445,174.88              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                0.07              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                          25,271.36              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               0.02              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
TOTALS                            1,265,424.33              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                   (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

--------------------------------------------------------------------------------
Distribution Date:                          June 25, 1998
--------------------------------------------------------------------------------

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                             95.999122%
GROUP IA PREPAYMENT PERCENTAGE                                 100.000000%
GROUP IIA PERCENTAGE                                            97.746754%
GROUP IIA PREPAYMENT PERCENTAGE                                100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 6,345.09
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                7,348.47
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?             NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?            NO

BANKRUPTCY AMOUNT                                               100,000.00
FRAUD LOSS AMOUNT                                             3,009,142.57
SPECIAL HAZARD AMOUNT                                         3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                             0.00

GROUP I EXTRAORDINARY LOSSES                                          0.00
GROUP II EXTRAORDINARY LOSSES                                         0.00

                                  Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REMIC I
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>    <C>          <C>
IA-1-L     32,400,889.00    32,264,496.83     181,487.80    170,959.32      352,447.12           0.00        0.00     32,093,537.51
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      83,441.09          0.00       83,441.09           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    72,733,290.74     409,124.76  1,966,217.97    2,375,342.73           0.00        0.00     70,767,072.77
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00     2,448,284.09           0.00  1,447,134.15    1,447,134.15           0.00   13,771.60      1,014,921.54
IA-9-L      3,929,529.00     3,929,529.00      23,919.25          0.00       23,919.25           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      57,886.07          0.00       57,886.07           0.00        0.00              0.00
I-PO-L         43,461.00        43,424.04           0.00         37.10           37.10           0.00        0.00         43,386.94
I-B-L       7,922,383.17     7,916,038.08      44,527.72      6,311.75       50,839.47           0.00        0.00      7,909,726.33
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   196,660,785.78   1,150,087.13  3,590,660.29    4,740,747.42           0.00   13,771.60    193,083,897.09
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                <C>              <C>           <C>             <C>          <C>             <C>               <C>

IA-1-L                         995.790481     5.601322        5.276377       10.877699     990.514103    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.505208        0.000000        5.505208   1,000.000000    6.606250%         6.606250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         989.568581     5.566323       26.751265       32.317588     962.817317    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                         833.463237     0.000000      492.644264      492.644264     345.507205    6.750000%         6.750000%
IA-9-L                       1,000.000000     6.087053        0.000000        6.087053   1,000.000000    7.304464%         7.304464%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.292266        0.000000        0.292266       0.000000    6.750000%         6.750000%
I-PO-L                         999.149582     0.000000        0.853639        0.853639     998.295943    0.000000%         0.000000%
I-B-L                          999.199093     5.620496        0.796698        6.417194     998.402395    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         June 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 27, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC II
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>             <C>           <C>                    <C>         <C>     <C>
IIA-1-L   100,392,251.00   100,048,250.20   541,928.02      651,895.46    1,193,823.48           0.00        0.00     99,396,354.74
II-X-L              0.00             0.00    12,664.24            0.00       12,664.24           0.00        0.00              0.00
II-PO-L       148,157.00       147,663.81         0.00          495.83          495.83           0.00        0.00        147,167.98
II-B-L      2,314,231.16     2,306,882.69    12,495.61        7,365.50       19,861.11           0.00        0.00      2,299,517.19
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16   102,502,796.70   567,087.87      659,756.79    1,226,844.66           0.00        0.00    101,843,039.91
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>       <C>                  <C>            <C>             <C>            <C>           <C>           <C>               <C>

IIA-1-L                        996.573433     5.398106        6.493484       11.891590     990.079949    6.500000%         6.500000%
II-X-L                           0.000000     0.123127        0.000000        0.123127       0.000000    6.500000%         6.500000%
II-PO-L                        996.671166     0.000000        3.346653        3.346653     993.324514    0.000000%         0.000000%
II-B-L                         996.824660     5.399465        3.182698        8.582163     993.641962    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%


------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         June 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 27, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------  ----------    -------------
<S>        <C>              <C>             <C>           <C>             <C>                    <C>    <C>           <C>
IA-1       31,022,128.00    30,891,539.75   181,487.80      163,684.46      345,172.26           0.00        0.00     30,727,855.29
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    83,441.09            0.00       83,441.09           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    72,733,290.74   409,124.76    1,966,217.97    2,375,342.73           0.00        0.00     70,767,072.77
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,372,957.08         0.00        7,274.86        7,274.86           0.00        0.00      1,365,682.22
IA-8        2,937,483.00     2,448,284.09         0.00    1,447,134.15    1,447,134.15           0.00   13,771.60      1,014,921.54
IA-9        3,929,529.00     3,929,529.00    23,919.25            0.00       23,919.25           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    57,886.07            0.00       57,886.07           0.00        0.00              0.00
I-PO           43,461.00        43,424.04         0.00           37.10           37.10           0.00        0.00         43,386.94
I-M         3,664,102.00     3,661,167.39    20,594.07        2,919.18       23,513.25           0.00        0.00      3,658,248.21
IB-1        1,683,506.00     1,682,157.67     9,462.14        1,341.25       10,803.39           0.00        0.00      1,680,816.42
IB-2          891,268.00       890,554.18     5,009.37          710.07        5,719.44           0.00        0.00        889,844.11
IB-3          693,208.00       692,652.81     3,896.17          552.28        4,448.45           0.00        0.00        692,100.53
IB-4          495,148.00       494,751.43     2,782.98          394.48        3,177.46           0.00        0.00        494,356.95
IB-5          495,151.17       494,754.60     2,782.99          394.49        3,177.48           0.00        0.00        494,360.11
------------------------------------------------------------------------------------------------------------------------------------
TOTALS      *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>           <C>             <C>          <C>             <C>               <C>
IA-1           055240DV4       995.790481     5.850269        5.276378       11.126647     990.514103    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.505208        0.000000        5.505208   1,000.000000    6.606250%         6.606250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       989.568581     5.566323       26.751265       32.317588     962.817317    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       995.790481     0.000000        5.276375        5.276375     990.514107    0.000000%         0.000000%
IA-8           055240EC5       833.463237     0.000000      492.644264      492.644264     345.507205    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     6.087053        0.000000        6.087053   1,000.000000    7.304464%         7.304464%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       999.149582     0.000000        0.853639        0.853639     998.295943    0.000000%         0.000000%
I-M            055240EN1       999.199092     5.620496        0.796697        6.417193     998.402394    6.750000%         6.750000%
IB-1           055240EP6       999.199094     5.620497        0.796700        6.417197     998.402394    6.750000%         6.750000%
IB-2           055240EQ4       999.199096     5.620498        0.796696        6.417194     998.402400    6.750000%         6.750000%
IB-3           055240EX9       999.199100     5.620492        0.796702        6.417194     998.402399    6.750000%         6.750000%
IB-4           055240EY7       999.199088     5.620501        0.796691        6.417192     998.402397    6.750000%         6.750000%
IB-5           055240EZ4       999.199093     5.620486        0.796706        6.417192     998.402387    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         June 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 27, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                            DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IIA-1     100,392,251.00   100,048,250.20   541,928.02      651,895.46    1,193,823.48           0.00        0.00     99,396,354.74
II-X                0.00             0.00    12,664.24            0.00       12,664.24           0.00        0.00              0.00
II-PO         148,157.00       147,663.81         0.00          495.83          495.83           0.00        0.00        147,167.98
IIM           874,264.00       871,487.92     4,720.56        2,782.51        7,503.07           0.00        0.00        868,705.41
IIB-1         462,846.00       461,376.31     2,499.12        1,473.10        3,972.22           0.00        0.00        459,903.21
IIB-2         308,564.00       307,584.20     1,666.08          982.07        2,648.15           0.00        0.00        306,602.13
IIB-3         308,564.00       307,584.20     1,666.08          982.07        2,648.15           0.00        0.00        306,602.13
IIB-4         154,282.00       153,792.10       833.04          491.03        1,324.07           0.00        0.00        153,301.07
IIB-5         205,711.16       205,057.96     1,110.73          654.72        1,765.45           0.00        0.00        204,403.24
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   299,163,582.48   1,717,175.00  4,250,417.08    5,967,592.08           0.00   13,771.60    294,926,937.00
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>             <C>            <C>           <C>           <C>               <C>
IIA-1          055240EH4       996.573433     5.398106        6.493484       11.891590     990.079949    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416666        0.000000        5.416666       0.000000    6.500000%         6.500000%
II-PO          055240EM3       996.671166     0.000000        3.346653        3.346653     993.324514    0.000000%         0.000000%
IIM            055240ER2       996.824666     5.399467        3.182689        8.582156     993.641978    6.500000%         6.500000%
IIB-1          055240ES0       996.824667     5.399463        3.182700        8.582163     993.641967    6.500000%         6.500000%
IIB-2          055240ET8       996.824646     5.399463        3.182711        8.582174     993.641935    6.500000%         6.500000%
IIB-3          055240FA8       996.824646     5.399463        3.182711        8.582174     993.641935    6.500000%         6.500000%
IIB-4          055240FB6       996.824646     5.399463        3.182678        8.582142     993.641967    6.500000%         6.500000%
IIB-5          055240FC4       996.824674     5.399464        3.182715        8.582179     993.641959    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         June 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 27, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

--------------------------------------------------------------------------------
Distribution Date:                          July 27, 1998
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                GROUP I                                  GROUP II
--------------------------                                -------                                  --------
<S>                                                <C>                                       <C>
BEGINNING BALANCE OF POOL                          196,660,786.13                            102,502,796.97
LESS:    SCHEDULED PRINCIPAL                          (156,807.28)                              (327,299.24)
         PRINCIPAL PREPAYMENTS                      (3,420,081.41)                              (332,457.55)
         REPURCHASES                                         0.00                                      0.00
         LIQUIDATIONS                                        0.00                                      0.00
         OTHER UNSCHEDULED PRINCIPAL                         0.00                                      0.00
                                              --------------------                     ---------------------
ENDING BALANCE OF POOL                             193,083,897.44                            101,843,040.18
                                              ====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                             626                                       306
ENDING NUMBER OF LOANS IN POOL                                613                                       305

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                   346                                       176
WEIGHTED AVERAGE NET CONTRACT RATE                      7.601699%                                 7.138853%

CURRENT REALIZED LOSSES ON THE POOL                          0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                       0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                    <C>           <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                        GROUP I                                  GROUP II
----------------------                                                        -------                                  --------
<S>                                                                         <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                        80,791.25                                 42,107.82
PLUS:    ADDITIONAL SERVICING COMPENSATION                                       0.00                                      0.00
LESS:    AMTS. TO COVER PREPAYMENT INT. SHORTFALL                           (8,527.19)                                  (441.44)
         DELINQUENT SERVICING FEES                                               0.00                                      0.00
                                                                 ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                         72,264.06                                 41,666.38
                                                                 =====================                     =====================

ADVANCED PRINCIPAL                                                               0.00                                      0.00
ADVANCED INTEREST                                                                0.00                                      0.00


                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          July 27, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                          156,184.58              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        1,876,127.57              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                            6,941.53              0.00                0.00                 0.00                0.00
CLASS IA-8                        1,380,827.72              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                0.00              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                         332,457.55              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               0.00              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           3,752,538.96              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

--------------------------------------------------------------------------------
Distribution Date:                          July 27, 1998
--------------------------------------------------------------------------------

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                              95.973887%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.746197%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,311.75
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,365.50
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

BANKRUPTCY AMOUNT                                                100,000.00
FRAUD LOSS AMOUNT                                              3,009,142.57
SPECIAL HAZARD AMOUNT                                          3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                              0.00

GROUP I EXTRAORDINARY LOSSES                                           0.00
GROUP II EXTRAORDINARY LOSSES                                          0.00


                                   Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REMIC I
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IA-1-L     32,400,889.00    32,093,537.51     180,526.15    442,719.91      623,246.06           0.00        0.00     31,650,817.60
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      83,441.09          0.00       83,441.09           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    70,767,072.77     398,064.78  1,779,453.28    2,177,518.06           0.00        0.00     68,987,619.49
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00     1,014,921.54           0.00  1,014,921.54    1,014,921.54           0.00    5,708.93          5,708.93
IA-9-L      3,929,529.00     3,929,529.00      23,919.25          0.00       23,919.25           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      56,639.01          0.00       56,639.01           0.00        0.00              0.00
I-PO-L         43,461.00        43,386.94           0.00         37.31           37.31           0.00        0.00         43,349.63
I-B-L       7,922,383.17     7,909,726.33      44,492.22      6,370.99       50,863.21           0.00        0.00      7,903,355.34
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   193,083,897.09   1,136,782.94  3,243,503.03    4,380,285.97           0.00    5,708.93    189,846,102.99
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>             <C>            <C>           <C>           <C>               <C>
IA-1-L                         990.514103     5.571642       13.663820       19.235462     976.850283    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.505208        0.000000        5.505208   1,000.000000    6.606250%         6.598440%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         962.817317     5.415847       24.210249       29.626096     938.607068    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                         345.507205     0.000000      345.507205      345.507205       1.943477    6.750000%         6.750000%
IA-9-L                       1,000.000000     6.087053        0.000000        6.087053   1,000.000000    7.304464%         7.334589%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.285970        0.000000        0.285970       0.000000    6.750000%         6.750000%
I-PO-L                         998.295943     0.000000        0.858471        0.858471     997.437473    0.000000%         0.000000%
I-B-L                          998.402395     5.616015        0.804176        6.420191     997.598219    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         July 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC II
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>     <C>
IIA-1-L   100,392,251.00    99,396,354.74   538,396.92    1,515,583.13    2,053,980.05           0.00        0.00     97,880,771.61
II-X-L              0.00             0.00    12,515.22            0.00       12,515.22           0.00        0.00              0.00
II-PO-L       148,157.00       147,167.98         0.00          506.94          506.94           0.00        0.00        146,661.04
II-B-L      2,314,231.16     2,299,517.19    12,455.71        7,361.46       19,817.17           0.00        0.00      2,292,155.73
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16   101,843,039.91   563,367.85    1,523,451.53    2,086,819.38           0.00        0.00    100,319,588.38
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1-L                        990.079949     5.362933       15.096615       20.459548     974.983334    6.500000%         6.500000%
II-X-L                           0.000000     0.121679        0.000000        0.121679       0.000000    6.500000%         6.500000%
II-PO-L                        993.324514     0.000000        3.421641        3.421641     989.902873    0.000000%         0.000000%
II-B-L                         993.641962     5.382224        3.180953        8.563177     990.461009    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%


------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         July 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>        <C>              <C>             <C>           <C>             <C>                    <C>     <C>          <C>
IA-1       31,022,128.00    30,727,855.29   180,526.15      423,880.77      604,406.92           0.00        0.00     30,303,974.52
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    83,441.09            0.00       83,441.09           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    70,767,072.77   398,064.78    1,779,453.28    2,177,518.06           0.00        0.00     68,987,619.49
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,365,682.22         0.00       18,839.14       18,839.14           0.00        0.00      1,346,843.08
IA-8        2,937,483.00     1,014,921.54         0.00    1,014,921.54    1,014,921.54           0.00    5,708.93          5,708.93
IA-9        3,929,529.00     3,929,529.00    23,919.25            0.00       23,919.25           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    56,639.01            0.00       56,639.01           0.00        0.00              0.00
I-PO           43,461.00        43,386.94         0.00           37.31           37.31           0.00        0.00         43,349.63
I-M         3,664,102.00     3,658,248.21    20,577.65        2,946.57       23,524.22           0.00        0.00      3,655,301.64
IB-1        1,683,506.00     1,680,816.42     9,454.59        1,353.84       10,808.43           0.00        0.00      1,679,462.58
IB-2          891,268.00       889,844.11     5,005.37          716.74        5,722.11           0.00        0.00        889,127.37
IB-3          693,208.00       692,100.53     3,893.07          557.46        4,450.53           0.00        0.00        691,543.07
IB-4          495,148.00       494,356.95     2,780.76          398.19        3,178.95           0.00        0.00        493,958.76
IB-5          495,151.17       494,360.11     2,780.78          398.19        3,178.97           0.00        0.00        493,961.92
------------------------------------------------------------------------------------------------------------------------------------
TOTALS      *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>           <C>             <C>          <C>             <C>               <C>
IA-1           055240DV4       990.514103     5.819270       13.663820       19.483090     976.850283    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.505208        0.000000        5.505208   1,000.000000    6.606250%         6.598440%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       962.817317     5.415847       24.210249       29.626096     938.607068    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       990.514107     0.000000       13.663818       13.663818     976.850288    0.000000%         0.000000%
IA-8           055240EC5       345.507205     0.000000      345.507205      345.507205       1.943477    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     6.087053        0.000000        6.087053   1,000.000000    7.304464%         7.334589%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       998.295943     0.000000        0.858471        0.858471     997.437473    0.000000%         0.000000%
I-M            055240EN1       998.402394     5.616015        0.804172        6.420187     997.598222    6.750000%         6.750000%
IB-1           055240EP6       998.402394     5.616012        0.804179        6.420191     997.598215    6.750000%         6.750000%
IB-2           055240EQ4       998.402400     5.616010        0.804180        6.420190     997.598220    6.750000%         6.750000%
IB-3           055240EX9       998.402399     5.616020        0.804174        6.420194     997.598224    6.750000%         6.750000%
IB-4           055240EY7       998.402397     5.616018        0.804184        6.420202     997.598213    6.750000%         6.750000%
IB-5           055240EZ4       998.402387     5.616022        0.804179        6.420201     997.598208    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         July 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IIA-1     100,392,251.00    99,396,354.74   538,396.92    1,515,583.13    2,053,980.05           0.00        0.00     97,880,771.61
II-X                0.00             0.00    12,515.22            0.00       12,515.22           0.00        0.00              0.00
II-PO         148,157.00       147,167.98         0.00          506.94          506.94           0.00        0.00        146,661.04
IIM           874,264.00       868,705.41     4,705.49        2,780.99        7,486.48           0.00        0.00        865,924.42
IIB-1         462,846.00       459,903.21     2,491.14        1,472.29        3,963.43           0.00        0.00        458,430.92
IIB-2         308,564.00       306,602.13     1,660.76          981.53        2,642.29           0.00        0.00        305,620.60
IIB-3         308,564.00       306,602.13     1,660.76          981.53        2,642.29           0.00        0.00        305,620.60
IIB-4         154,282.00       153,301.07       830.38          490.76        1,321.14           0.00        0.00        152,810.31
IIB-5         205,711.16       204,403.24     1,107.18          654.36        1,761.54           0.00        0.00        203,748.88
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   294,926,937.00   1,700,150.79  4,766,954.56    6,467,105.35           0.00    5,708.93    290,165,691.37
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1          055240EH4       990.079949     5.362933       15.096615       20.459548     974.983334    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416668        0.000000        5.416668       0.000000    6.500000%         6.500000%
II-PO          055240EM3       993.324514     0.000000        3.421641        3.421641     989.902873    0.000000%         0.000000%
IIM            055240ER2       993.641978     5.382230        3.180950        8.563180     990.461028    6.500000%         6.500000%
IIB-1          055240ES0       993.641967     5.382222        3.180950        8.563172     990.461017    6.500000%         6.500000%
IIB-2          055240ET8       993.641935     5.382222        3.180961        8.563183     990.460974    6.500000%         6.500000%
IIB-3          055240FA8       993.641935     5.382222        3.180961        8.563183     990.460974    6.500000%         6.500000%
IIB-4          055240FB6       993.641967     5.382222        3.180928        8.563151     990.461039    6.500000%         6.500000%
IIB-5          055240FC4       993.641959     5.382207        3.180965        8.563172     990.460994    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                         July 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          August 25, 1998

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                        GROUP I                                   GROUP II
--------------------------                                        -------                                   --------
<S>                                                        <C>                                 <C>
BEGINNING BALANCE OF POOL                                  193,083,897.44                            101,843,040.18
LESS:   SCHEDULED PRINCIPAL                                   (155,524.21)                              (326,058.30)
        PRINCIPAL PREPAYMENTS                               (3,082,269.89)                            (1,197,393.23)
        REPURCHASES                                                  0.00                                      0.00
        LIQUIDATIONS                                                 0.00                                      0.00
        OTHER UNSCHEDULED PRINCIPAL                                  0.00                                      0.00
                                                     ---------------------                     ---------------------
ENDING BALANCE OF POOL                                     189,846,103.34                            100,319,588.65
                                                     =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                     613                                       305
ENDING NUMBER OF LOANS IN POOL                                        603                                       302

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                           345                                       175
WEIGHTED AVERAGE NET CONTRACT RATE                              7.596962%                                 7.137445%

CURRENT REALIZED LOSSES ON THE POOL                                  0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                               0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                <C>               <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                  264,165.56          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0910%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.1105%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                    GROUP I                                   GROUP II
----------------------                                                    -------                                   --------
<S>                                                                     <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                    78,759.75                                 41,787.29
PLUS:   ADDITIONAL SERVICING COMPENSATION                                    0.00                                      0.00
LESS:   AMTS. TO COVER PREPAYMENT INT. SHORTFALL                        (8,321.30)                                (2,783.77)
        DELINQUENT SERVICING FEES                                       (1,921.02)                                  (872.18)
                                                             ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                     68,517.43                                 38,131.34
                                                             =====================                     =====================

ADVANCED PRINCIPAL                                                       4,325.40                                  5,425.35
ADVANCED INTEREST                                                       32,690.56                                  9,333.86

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company

</TABLE>
<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          August 25, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                          403,607.26              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        1,694,345.00              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           17,938.10              0.00                0.00                 0.00                0.00
CLASS IA-8                          966,379.54              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                0.00              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                       1,197,384.80              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               8.43              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           4,279,663.12              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company

</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS
Distribution Date:                          August 25, 1998

OTHER REPORTING ITEMS:
----------------------

GROUP IA PERCENTAGE                                              95.902556%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.738829%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,370.99
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,361.46
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

BANKRUPTCY AMOUNT                                                100,000.00
FRAUD LOSS AMOUNT                                              3,009,142.57
SPECIAL HAZARD AMOUNT                                          3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                              0.00

GROUP I EXTRAORDINARY LOSSES                                           0.00
GROUP II EXTRAORDINARY LOSSES                                          0.00

                                  Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REMIC I
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>        <C>       <C>
IA-1-L     32,400,889.00    31,650,817.60     178,035.85  2,272,292.39    2,450,328.24           0.00        0.00     29,378,525.21
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      83,342.45          0.00       83,342.45           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    68,987,619.49     388,055.36  2,791,823.83    3,179,879.19           0.00        0.00     66,195,795.66
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00         5,708.93           0.00      5,708.93        5,708.93           0.00       32.11             32.11
IA-9-L      3,929,529.00     3,929,529.00      24,017.90          0.00       24,017.90           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      55,338.05          0.00       55,338.05           0.00        0.00              0.00
I-PO-L         43,461.00        43,349.63           0.00         37.53           37.53           0.00        0.00         43,312.10
I-B-L       7,922,383.17     7,903,355.34      44,456.38      6,360.81       50,817.19           0.00        0.00      7,896,994.53
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   189,846,102.99   1,122,946.43  5,076,223.49    6,199,169.92           0.00       32.11    184,769,911.61
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1-L                         976.850283     5.494783       70.130557       75.625340     906.719726    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.498700        0.000000        5.498700   1,000.000000    6.598440%         6.543750%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         938.607068     5.279665       37.983998       43.263662     900.623070    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                           1.943477     0.000000        1.943477        1.943477       0.010931    6.750000%         6.750000%
IA-9-L                       1,000.000000     6.112157        0.000000        6.112157   1,000.000000    7.334589%         7.545536%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.279401        0.000000        0.279401       0.000000    6.750000%         6.750000%
I-PO-L                         997.437473     0.000000        0.863533        0.863533     996.573940    0.000000%         0.000000%
I-B-L                          997.598219     5.611491        0.802891        6.414382     996.795328    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                       August 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC II
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>          <C>
IIA-1-L   100,392,251.00    97,880,771.61   530,187.51    3,034,083.61    3,564,271.12           0.00        0.00     94,846,688.00
II-X-L              0.00             0.00    12,285.39            0.00       12,285.39           0.00        0.00              0.00
II-PO-L       148,157.00       146,661.04         0.00          509.68          509.68           0.00        0.00        146,151.36
II-B-L      2,314,231.16     2,292,155.73    12,415.83        7,314.68       19,730.51           0.00        0.00      2,284,841.05
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16   100,319,588.38   554,888.73    3,041,907.97    3,596,796.70           0.00        0.00     97,277,680.41
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1-L                        974.983334     5.281160       30.222289       35.503449     944.761045    6.500000%         6.500000%
II-X-L                           0.000000     0.119444        0.000000        0.119444       0.000000    6.500000%         6.500000%
II-PO-L                        989.902873     0.000000        3.440134        3.440134     986.462739    0.000000%         0.000000%
II-B-L                         990.461009     5.364991        3.160739        8.525730     987.300270    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                       August 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>        <C>              <C>             <C>           <C>             <C>                    <C>        <C>       <C>
IA-1       31,022,128.00    30,303,974.52   178,035.85    2,175,599.10    2,353,634.95           0.00        0.00     28,128,375.42
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    83,342.45            0.00       83,342.45           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    68,987,619.49   388,055.36    2,791,823.83    3,179,879.19           0.00        0.00     66,195,795.66
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,346,843.08         0.00       96,693.29       96,693.29           0.00        0.00      1,250,149.79
IA-8        2,937,483.00         5,708.93         0.00        5,708.93        5,708.93           0.00       32.11             32.11
IA-9        3,929,529.00     3,929,529.00    24,017.90            0.00       24,017.90           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    55,338.05            0.00       55,338.05           0.00        0.00              0.00
I-PO           43,461.00        43,349.63         0.00           37.53           37.53           0.00        0.00         43,312.10
I-M         3,664,102.00     3,655,301.64    20,561.07        2,941.88       23,502.95           0.00        0.00      3,652,359.76
IB-1        1,683,506.00     1,679,462.58     9,446.98        1,351.67       10,798.65           0.00        0.00      1,678,110.91
IB-2          891,268.00       889,127.37     5,001.34          715.59        5,716.93           0.00        0.00        888,411.78
IB-3          693,208.00       691,543.07     3,889.93          556.57        4,446.50           0.00        0.00        690,986.50
IB-4          495,148.00       493,958.76     2,778.52          397.55        3,176.07           0.00        0.00        493,561.21
IB-5          495,151.17       493,961.92     2,778.54          397.55        3,176.09           0.00        0.00        493,564.37
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1           055240DV4       976.850283     5.738995       70.130556       75.869552     906.719727    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.498700        0.000000        5.498700   1,000.000000    6.598440%         6.543750%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       938.607068     5.279665       37.983998       43.263662     900.623070    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       976.850288     0.000000       70.130567       70.130567     906.719722    0.000000%         0.000000%
IA-8           055240EC5         1.943477     0.000000        1.943477        1.943477       0.010931    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     6.112157        0.000000        6.112157   1,000.000000    7.334589%         7.545536%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       997.437473     0.000000        0.863533        0.863533     996.573940    0.000000%         0.000000%
I-M            055240EN1       997.598222     5.611490        0.802892        6.414382     996.795329    6.750000%         6.750000%
IB-1           055240EP6       997.598215     5.611492        0.802890        6.414382     996.795325    6.750000%         6.750000%
IB-2           055240EQ4       997.598220     5.611488        0.802890        6.414378     996.795330    6.750000%         6.750000%
IB-3           055240EX9       997.598224     5.611490        0.802890        6.414381     996.795334    6.750000%         6.750000%
IB-4           055240EY7       997.598213     5.611494        0.802891        6.414385     996.795322    6.750000%         6.750000%
IB-5           055240EZ4       997.598208     5.611498        0.802886        6.414385     996.795322    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                       August 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>                <C>         <C>             <C>                    <C>     <C>         <C>
IIA-1     100,392,251.00    97,880,771.61     530,187.51  3,034,083.61    3,564,271.12           0.00        0.00     94,846,688.00
II-X                0.00             0.00      12,285.39          0.00       12,285.39           0.00        0.00              0.00
II-PO         148,157.00       146,661.04           0.00        509.68          509.68           0.00        0.00        146,151.36
IIM           874,264.00       865,924.42       4,690.42      2,763.31        7,453.73           0.00        0.00        863,161.11
IIB-1         462,846.00       458,430.92       2,483.17      1,462.94        3,946.11           0.00        0.00        456,967.98
IIB-2         308,564.00       305,620.60       1,655.44        975.29        2,630.73           0.00        0.00        304,645.31
IIB-3         308,564.00       305,620.60       1,655.44        975.29        2,630.73           0.00        0.00        304,645.31
IIB-4         154,282.00       152,810.31         827.72        487.65        1,315.37           0.00        0.00        152,322.66
IIB-5         205,711.16       203,748.88       1,103.64        650.20        1,753.84           0.00        0.00        203,098.68
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   290,165,691.37   1,677,835.16  8,118,131.46    9,795,966.62           0.00       32.11    282,047,592.02
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1          055240EH4       974.983334     5.281160       30.222289       35.503449     944.761045    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416668        0.000000        5.416668       0.000000    6.500000%         6.500000%
II-PO          055240EM3       989.902873     0.000000        3.440134        3.440134     986.462739    0.000000%         0.000000%
IIM            055240ER2       990.461028     5.364993        3.160727        8.525720     987.300301    6.500000%         6.500000%
IIB-1          055240ES0       990.461017     5.365003        3.160749        8.525752     987.300268    6.500000%         6.500000%
IIB-2          055240ET8       990.460974     5.364981        3.160738        8.525719     987.300236    6.500000%         6.500000%
IIB-3          055240FA8       990.460974     5.364981        3.160738        8.525719     987.300236    6.500000%         6.500000%
IIB-4          055240FB6       990.461039     5.364981        3.160771        8.525752     987.300268    6.500000%         6.500000%
IIB-5          055240FC4       990.460994     5.364998        3.160742        8.525741     987.300251    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                       August 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          September 25, 1998

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                      GROUP I                                   GROUP II
--------------------------                                      -------                                   --------
<S>                                                      <C>                                       <C>
BEGINNING BALANCE OF POOL                                189,846,103.34                            100,319,588.65
LESS:  SCHEDULED PRINCIPAL                                  (152,795.33)                              (320,170.82)
       PRINCIPAL PREPAYMENTS                              (4,923,396.05)                            (2,721,737.15)
       REPURCHASES                                                 0.00                                      0.00
       LIQUIDATIONS                                                0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                 0.00                                      0.00
                                                   ---------------------                     ---------------------
ENDING BALANCE OF POOL                                   184,769,911.96                             97,277,680.68
                                                   =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                   603                                       302
ENDING NUMBER OF LOANS IN POOL                                      588                                       294

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                         344                                       174
WEIGHTED AVERAGE NET CONTRACT RATE                            7.591443%                                 7.134603%

CURRENT REALIZED LOSSES ON THE POOL                                0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                             0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                    <C>           <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                          GROUP I                                   GROUP II
----------------------                                                          -------                                   --------
<S>                                                                           <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                          76,921.00                                 40,976.45
PLUS:  ADDITIONAL SERVICING COMPENSATION                                           0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                              (16,603.39)                                (7,345.64)
       DELINQUENT SERVICING FEES                                                   0.00                                      0.00
                                                                   ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                           60,317.61                                 33,630.81
                                                                   =====================                     =====================

ADVANCED PRINCIPAL                                                                 0.00                                      0.00
ADVANCED INTEREST                                                                  0.00                                      0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          September 25, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                        2,112,762.41              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        2,711,189.05              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           93,900.55              0.00                0.00                 0.00                0.00
CLASS IA-8                            5,544.04              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                0.00              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                       2,721,728.72              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               8.43              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           7,645,133.20              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          September 25, 1998

OTHER REPORTING ITEMS:
----------------------

GROUP IA PERCENTAGE                                             95.836016%
GROUP IA PREPAYMENT PERCENTAGE                                 100.000000%
GROUP IIA PERCENTAGE                                            97.711801%
GROUP IIA PREPAYMENT PERCENTAGE                                100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 6,360.81
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                7,314.68
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?             NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?            NO

BANKRUPTCY AMOUNT                                               100,000.00
FRAUD LOSS AMOUNT                                             3,009,142.57
SPECIAL HAZARD AMOUNT                                         3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                             0.00

GROUP I EXTRAORDINARY LOSSES                                          0.00
GROUP II EXTRAORDINARY LOSSES                                         0.00

                                   Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REMIC I
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IA-1-L     32,400,889.00    29,378,525.21     165,254.21  1,380,834.11    1,546,088.32           0.00        0.00     27,997,691.10
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      82,651.68          0.00       82,651.68           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    66,195,795.66     372,351.35  1,692,355.94    2,064,707.29           0.00        0.00     64,503,439.72
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00            32.11           0.00         32.11           32.11           0.00        0.18              0.18
IA-9-L      3,929,529.00     3,929,529.00      24,708.67          0.00       24,708.67           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      53,733.96          0.00       53,733.96           0.00        0.00              0.00
I-PO-L         43,461.00        43,312.10           0.00         41.47           41.47           0.00        0.00         43,270.63
I-B-L       7,922,383.17     7,896,994.53      44,420.59      6,483.69       50,904.28           0.00        0.00      7,890,510.84
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   184,769,911.61   1,092,820.90  3,079,747.32    4,172,568.22           0.00        0.18    181,690,164.47
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1-L                         906.719726     5.100299       42.617167       47.717466     864.102559    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.453125        0.000000        5.453125   1,000.000000    6.543750%         6.169380%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         900.623070     5.066005       23.025251       28.091256     877.597819    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                           0.010931     0.000000        0.010931        0.010931       0.000061    6.750000%         6.750000%
IA-9-L                       1,000.000000     6.287947        0.000000        6.287947   1,000.000000    7.545536%         8.989534%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.271302        0.000000        0.271302       0.000000    6.750000%         6.750000%
I-PO-L                         996.573940     0.000000        0.954189        0.954189     995.619751    0.000000%         0.000000%
I-B-L                          996.795328     5.606973        0.818401        6.425375     995.976926    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%


     This statement is also available on Bankers Trust's Website, http://online.bankerstrust.com/invr/.  We begin posting statements
to the Web at 7:00pm Eastern Time on the business day before each distribution date.

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                    September 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 26, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC II
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>               <C>             <C>           <C>             <C>                    <C>         <C>      <C>
IIA-1-L   100,392,251.00    94,846,688.00   513,752.89    1,103,535.03    1,617,287.92           0.00        0.00     93,743,152.97
II-X-L              0.00             0.00    11,838.88            0.00       11,838.88           0.00        0.00              0.00
II-PO-L       148,157.00       146,151.36         0.00          512.57          512.57           0.00        0.00        145,638.79
II-B-L      2,314,231.16     2,284,841.05    12,376.22        7,514.08       19,890.30           0.00        0.00      2,277,326.97
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    97,277,680.41   537,967.99    1,111,561.68    1,649,529.67           0.00        0.00     96,166,118.73
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1-L                        944.761045     5.117456       10.992233       16.109689     933.768812    6.500000%         6.500000%
II-X-L                           0.000000     0.115103        0.000000        0.115103       0.000000    6.500000%         6.500000%
II-PO-L                        986.462739     0.000000        3.459641        3.459641     983.003098    0.000000%         0.000000%
II-B-L                         987.300270     5.347875        3.246901        8.594777     984.053369    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                    September 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 26, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>        <C>              <C>             <C>           <C>             <C>                    <C>         <C>      <C>
IA-1       31,022,128.00    28,128,375.42   165,254.21    1,322,075.22    1,487,329.43           0.00        0.00     26,806,300.20
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    82,651.68            0.00       82,651.68           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    66,195,795.66   372,351.35    1,692,355.94    2,064,707.29           0.00        0.00     64,503,439.72
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,250,149.79         0.00       58,758.89       58,758.89           0.00        0.00      1,191,390.90
IA-8        2,937,483.00            32.11         0.00           32.11           32.11           0.00        0.18              0.18
IA-9        3,929,529.00     3,929,529.00    24,708.67            0.00       24,708.67           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    53,733.96            0.00       53,733.96           0.00        0.00              0.00
I-PO           43,461.00        43,312.10         0.00           41.47           41.47           0.00        0.00         43,270.63
I-M         3,664,102.00     3,652,359.76    20,544.52        2,998.71       23,543.23           0.00        0.00      3,649,361.05
IB-1        1,683,506.00     1,678,110.91     9,439.37        1,377.78       10,817.15           0.00        0.00      1,676,733.13
IB-2          891,268.00       888,411.78     4,997.32          729.42        5,726.74           0.00        0.00        887,682.36
IB-3          693,208.00       690,986.50     3,886.80          567.32        4,454.12           0.00        0.00        690,419.18
IB-4          495,148.00       493,561.21     2,776.28          405.23        3,181.51           0.00        0.00        493,155.98
IB-5          495,151.17       493,564.37     2,776.30          405.23        3,181.53           0.00        0.00        493,159.14
------------------------------------------------------------------------------------------------------------------------------------
TOTALS                 *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1           055240DV4       906.719727     5.326979       42.617167       47.944146     864.102559    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.453125        0.000000        5.453125   1,000.000000    6.543750%         6.169380%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       900.623070     5.066005       23.025251       28.091256     877.597819    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       906.719722     0.000000       42.617169       42.617169     864.102553    0.000000%         0.000000%
IA-8           055240EC5         0.010931     0.000000        0.010931        0.010931       0.000061    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     6.287947        0.000000        6.287947   1,000.000000    7.545536%         8.989534%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       996.573940     0.000000        0.954189        0.954189     995.619751    0.000000%         0.000000%
I-M            055240EN1       996.795329     5.606973        0.818402        6.425375     995.976927    6.750000%         6.750000%
IB-1           055240EP6       996.795325     5.606971        0.818399        6.425371     995.976926    6.750000%         6.750000%
IB-2           055240EQ4       996.795330     5.606978        0.818407        6.425385     995.976923    6.750000%         6.750000%
IB-3           055240EX9       996.795334     5.606975        0.818398        6.425373     995.976936    6.750000%         6.750000%
IB-4           055240EY7       996.795322     5.606970        0.818402        6.425372     995.976920    6.750000%         6.750000%
IB-5           055240EZ4       996.795322     5.606975        0.818397        6.425371     995.976926    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                    September 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 26, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                    REMIC III
                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IIA-1     100,392,251.00    94,846,688.00   513,752.89    1,103,535.03    1,617,287.92           0.00        0.00     93,743,152.97
II-X                0.00             0.00    11,838.88            0.00       11,838.88           0.00        0.00              0.00
II-PO         148,157.00       146,151.36         0.00          512.57          512.57           0.00        0.00        145,638.79
IIM           874,264.00       863,161.11     4,675.46        2,838.64        7,514.10           0.00        0.00        860,322.47
IIB-1         462,846.00       456,967.98     2,475.24        1,502.82        3,978.06           0.00        0.00        455,465.16
IIB-2         308,564.00       304,645.31     1,650.16        1,001.88        2,652.04           0.00        0.00        303,643.43
IIB-3         308,564.00       304,645.31     1,650.16        1,001.88        2,652.04           0.00        0.00        303,643.43
IIB-4         154,282.00       152,322.66       825.08          500.94        1,326.02           0.00        0.00        151,821.72
IIB-5         205,711.16       203,098.68     1,100.12          667.92        1,768.04           0.00        0.00        202,430.76
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   282,047,592.02   1,630,788.89  4,191,309.00    5,822,097.89           0.00        0.18    277,856,283.20
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1          055240EH4       944.761045     5.117456       10.992233       16.109689     933.768812    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416665        0.000000        5.416665       0.000000    6.500000%         6.500000%
II-PO          055240EM3       986.462739     0.000000        3.459641        3.459641     983.003098    0.000000%         0.000000%
IIM            055240ER2       987.300301     5.347881        3.246891        8.594772     984.053409    6.500000%         6.500000%
IIB-1          055240ES0       987.300268     5.347869        3.246911        8.594781     984.053357    6.500000%         6.500000%
IIB-2          055240ET8       987.300236     5.347869        3.246911        8.594781     984.053324    6.500000%         6.500000%
IIB-3          055240FA8       987.300236     5.347869        3.246911        8.594781     984.053324    6.500000%         6.500000%
IIB-4          055240FB6       987.300268     5.347869        3.246911        8.594781     984.053357    6.500000%         6.500000%
IIB-5          055240FC4       987.300251     5.347887        3.246883        8.594769     984.053369    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                    September 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 26, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 26, 1998

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                    GROUP I                                  GROUP II
--------------------------                                    -------                                  --------
<S>                                                    <C>                                        <C>
BEGINNING BALANCE OF POOL                              184,769,911.96                             97,277,680.68
LESS:  SCHEDULED PRINCIPAL                                (151,704.41)                              (319,937.20)
       PRINCIPAL PREPAYMENTS                            (2,928,042.73)                              (791,624.48)
       REPURCHASES                                               0.00                                      0.00
       LIQUIDATIONS                                              0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                               0.00                                      0.00
                                                 ---------------------                     ---------------------
ENDING BALANCE OF POOL                                 181,690,164.82                             96,166,119.00
                                                 =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                 588                                       294
ENDING NUMBER OF LOANS IN POOL                                    579                                       292

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                       343                                       173
WEIGHTED AVERAGE NET CONTRACT RATE                          7.586387%                                 7.128537%

CURRENT REALIZED LOSSES ON THE POOL                              0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                           0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                    <C>           <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                     GROUP I                                  GROUP II
----------------------                                                     -------                                  --------
<S>                                                                      <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                     74,216.59                                 39,337.49
PLUS:   ADDITIONAL SERVICING COMPENSATION                                     0.00                                      0.00
LESS:   AMTS. TO COVER PREPAYMENT INT. SHORTFALL                        (10,965.22)                                (2,353.60)
        DELINQUENT SERVICING FEES                                        (1,566.41)                                (1,341.00)
                                                              ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                      61,684.96                                 35,642.89
                                                              =====================                     =====================

ADVANCED PRINCIPAL                                                        3,790.07                                 12,305.17
ADVANCED INTEREST                                                        26,097.77                                 19,508.25

------------------------------------------------------------------------------------------------------------------------------------
                                                           Page 5 of 7 (C)                      COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 26, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                        1,259,618.60              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        1,612,406.76              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           55,983.04              0.00                0.00                 0.00                0.00
CLASS IA-8                               30.59              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                3.73              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                         791,615.92              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               8.56              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           3,719,667.21              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 26, 1998

OTHER REPORTING ITEMS:
----------------------
GROUP IA PERCENTAGE                                                 95.725037%
GROUP IA PREPAYMENT PERCENTAGE                                     100.000000%
GROUP IIA PERCENTAGE                                                97.647683%
GROUP IIA PREPAYMENT PERCENTAGE                                    100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                     6,483.69
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    7,514.08
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                 NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?                NO

BANKRUPTCY AMOUNT                                                   100,000.00
FRAUD LOSS AMOUNT                                                 3,009,142.57
SPECIAL HAZARD AMOUNT                                             3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                                 0.00

GROUP I EXTRAORDINARY LOSSES                                              0.00
GROUP II EXTRAORDINARY LOSSES                                             0.00

--------------------------------------------------------------------------------
                                   Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IA-1-L     32,400,889.00    27,997,691.10     157,487.01  1,119,994.94    1,277,481.95           0.00        0.00     26,877,696.16
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      77,923.15          0.00       77,923.15           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    64,503,439.72     362,831.85  1,372,638.87    1,735,470.72           0.00        0.00     63,130,800.85
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00             0.18           0.00          0.18            0.18           0.00        0.00              0.00
IA-9-L      3,929,529.00     3,929,529.00      29,437.20          0.00       29,437.20           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      52,667.99          0.00       52,667.99           0.00        0.00              0.00
I-PO-L         43,461.00        43,270.63           0.00         43.57           43.57           0.00        0.00         43,227.06
I-B-L       7,922,383.17     7,890,510.84      44,384.12      6,557.02       50,941.14           0.00        0.00      7,883,953.82
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   181,690,164.47   1,074,431.76  2,499,234.58    3,573,666.34           0.00        0.00    179,190,929.89
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1-L                         864.102559     4.860577       34.566797       39.427373     829.535762    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     5.141150        0.000000        5.141150   1,000.000000    6.169380%         5.992340%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         877.597819     4.936488       18.675359       23.611847     858.922461    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                           0.000061     0.000000        0.000061        0.000061       0.000000    6.750000%         6.750000%
IA-9-L                       1,000.000000     7.491279        0.000000        7.491279   1,000.000000    8.989534%         9.672403%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.265920        0.000000        0.265920       0.000000    6.750000%         6.750000%
I-PO-L                         995.619751     0.000000        1.002508        1.002508     994.617243    0.000000%         0.000000%
I-B-L                          995.976926     5.602370        0.827658        6.430027     995.149269    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

     This statement is also available on Bankers Trust's Website, http://online.bankerstrust.com/invr/.  We begin posting statements
to the Web at 7:00pm Eastern Time on the business day before each distribution date.

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                      October 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IIA-1-L   100,392,251.00    93,743,152.97   507,775.41    2,412,596.10    2,920,371.51           0.00        0.00     91,330,556.87
II-X-L              0.00             0.00    11,573.97            0.00       11,573.97           0.00        0.00              0.00
II-PO-L       148,157.00       145,638.79         0.00          509.41          509.41           0.00        0.00        145,129.38
II-B-L      2,314,231.16     2,277,326.97    12,335.53        7,470.60       19,806.13           0.00        0.00      2,269,856.37
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    96,166,118.73   531,684.91    2,420,576.11    2,952,261.02           0.00        0.00     93,745,542.62
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1-L                        933.768812     5.057914       24.031696       29.089611     909.737116    6.500000%         6.500000%
II-X-L                           0.000000     0.112527        0.000000        0.112527       0.000000    6.500000%         6.500000%
II-PO-L                        983.003098     0.000000        3.438312        3.438312     979.564786    0.000000%         0.000000%
II-B-L                         984.053369     5.330293        3.228113        8.558406     980.825256    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                      October 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IA-1       31,022,128.00    26,806,300.20   157,487.01    1,072,335.59    1,229,822.60           0.00        0.00     25,733,964.61
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    77,923.15            0.00       77,923.15           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    64,503,439.72   362,831.85    1,372,638.87    1,735,470.72           0.00        0.00     63,130,800.85
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,191,390.90         0.00       47,659.35       47,659.35           0.00        0.00      1,143,731.55
IA-8        2,937,483.00             0.18         0.00            0.18            0.18           0.00        0.00              0.00
IA-9        3,929,529.00     3,929,529.00    29,437.20            0.00       29,437.20           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    52,667.99            0.00       52,667.99           0.00        0.00              0.00
I-PO           43,461.00        43,270.63         0.00           43.57           43.57           0.00        0.00         43,227.06
I-M         3,664,102.00     3,649,361.05    20,527.66        3,032.62       23,560.28           0.00        0.00      3,646,328.43
IB-1        1,683,506.00     1,676,733.13     9,431.62        1,393.37       10,824.99           0.00        0.00      1,675,339.76
IB-2          891,268.00       887,682.36     4,993.21          737.66        5,730.87           0.00        0.00        886,944.70
IB-3          693,208.00       690,419.18     3,883.61          573.74        4,457.35           0.00        0.00        689,845.44
IB-4          495,148.00       493,155.98     2,774.00          409.81        3,183.81           0.00        0.00        492,746.17
IB-5          495,151.17       493,159.14     2,774.02          409.82        3,183.84           0.00        0.00        492,749.32
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1           055240DV4       864.102559     5.076602       34.566797       39.643399     829.535763    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     5.141150        0.000000        5.141150   1,000.000000    6.169380%         5.992340%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       877.597819     4.936488       18.675359       23.611847     858.922461    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       864.102553     0.000000       34.566796       34.566796     829.535757    0.000000%         0.000000%
IA-8           055240EC5         0.000061     0.000000        0.000061        0.000061       0.000000    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     7.491279        0.000000        7.491279   1,000.000000    8.989534%         9.672403%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       995.619751     0.000000        1.002508        1.002508     994.617243    0.000000%         0.000000%
I-M            055240EN1       995.976927     5.602371        0.827657        6.430028     995.149270    6.750000%         6.750000%
IB-1           055240EP6       995.976926     5.602368        0.827660        6.430028     995.149266    6.750000%         6.750000%
IB-2           055240EQ4       995.976923     5.602367        0.827652        6.430019     995.149270    6.750000%         6.750000%
IB-3           055240EX9       995.976936     5.602373        0.827659        6.430033     995.149277    6.750000%         6.750000%
IB-4           055240EY7       995.976920     5.602365        0.827652        6.430017     995.149269    6.750000%         6.750000%
IB-5           055240EZ4       995.976926     5.602370        0.827666        6.430036     995.149259    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                      October 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>     <C>         <C>
IIA-1     100,392,251.00    93,743,152.97     507,775.41  2,412,596.10    2,920,371.51           0.00        0.00     91,330,556.87
II-X                0.00             0.00      11,573.97          0.00       11,573.97           0.00        0.00              0.00
II-PO         148,157.00       145,638.79           0.00        509.41          509.41           0.00        0.00        145,129.38
IIM           874,264.00       860,322.47       4,660.08      2,822.22        7,482.30           0.00        0.00        857,500.25
IIB-1         462,846.00       455,465.16       2,467.10      1,494.12        3,961.22           0.00        0.00        453,971.04
IIB-2         308,564.00       303,643.43       1,644.74        996.08        2,640.82           0.00        0.00        302,647.35
IIB-3         308,564.00       303,643.43       1,644.74        996.08        2,640.82           0.00        0.00        302,647.35
IIB-4         154,282.00       151,821.72         822.37        498.04        1,320.41           0.00        0.00        151,323.68
IIB-5         205,711.16       202,430.76       1,096.50        664.06        1,760.56           0.00        0.00        201,766.70
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   277,856,283.20   1,606,116.67  4,919,810.69    6,525,927.36           0.00        0.00    272,936,472.51
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1          055240EH4       933.768812     5.057914       24.031696       29.089611     909.737116    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416668        0.000000        5.416668       0.000000    6.500000%         6.500000%
II-PO          055240EM3       983.003098     0.000000        3.438312        3.438312     979.564786    0.000000%         0.000000%
IIM            055240ER2       984.053409     5.330289        3.228110        8.558399     980.825300    6.500000%         6.500000%
IIB-1          055240ES0       984.053357     5.330283        3.228115        8.558397     980.825242    6.500000%         6.500000%
IIB-2          055240ET8       984.053324     5.330304        3.228115        8.558419     980.825210    6.500000%         6.500000%
IIB-3          055240FA8       984.053324     5.330304        3.228115        8.558419     980.825210    6.500000%         6.500000%
IIB-4          055240FB6       984.053357     5.330304        3.228115        8.558419     980.825242    6.500000%         6.500000%
IIB-5          055240FC4       984.053369     5.330289        3.228118        8.558408     980.825250    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                      October 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 25, 1998

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                          GROUP I                                  GROUP II
--------------------------                                          -------                                  --------
<S>                                                          <C>                                        <C>
BEGINNING BALANCE OF POOL                                    181,690,164.82                             96,166,119.00
LESS:  SCHEDULED PRINCIPAL                                      (150,986.71)                              (315,494.79)
       PRINCIPAL PREPAYMENTS                                  (2,348,247.87)                            (2,105,081.32)
       REPURCHASES                                                     0.00                                      0.00
       LIQUIDATIONS                                                    0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                     0.00                                      0.00
                                                       ---------------------                     ---------------------
ENDING BALANCE OF POOL                                       179,190,930.24                             93,745,542.89
                                                       =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                       579                                       292
ENDING NUMBER OF LOANS IN POOL                                          571                                       287

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                             341                                       171
WEIGHTED AVERAGE NET CONTRACT RATE                                7.584328%                                 7.125214%

CURRENT REALIZED LOSSES ON THE POOL                                    0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                                 0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                    <C>           <C>           <C>           <C>           <C>           <C>
GROUP I      PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------

             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                               GROUP I                                  GROUP II
----------------------                                               -------                                  --------
<S>                                                                <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD               72,841.88                                 38,757.64
PLUS:   ADDITIONAL SERVICING COMPENSATION                               0.00                                      0.00
LESS:   AMTS. TO COVER PREPAYMENT INT. SHORTFALL                   (7,307.16)                                (2,983.10)
        DELINQUENT SERVICING FEES                                  (3,085.94)                                (2,181.89)
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                62,448.78                                 33,592.65
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                  7,103.09                                 19,514.35
ADVANCED INTEREST                                                  50,290.30                                 30,303.26

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 25, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                        1,010,218.02              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        1,293,125.52              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           44,898.57              0.00                0.00                 0.00                0.00
CLASS IA-8                                0.17              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                5.59              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                       2,105,078.69              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               2.63              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           4,453,329.19              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 25, 1998

OTHER REPORTING ITEMS:
----------------------

GROUP IA PERCENTAGE                                              95.656127%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.628290%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,557.02
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,470.60
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

BANKRUPTCY AMOUNT                                                100,000.00
FRAUD LOSS AMOUNT                                              3,009,142.57
SPECIAL HAZARD AMOUNT                                          3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                              0.00

GROUP I EXTRAORDINARY LOSSES                                           0.00
GROUP II EXTRAORDINARY LOSSES                                          0.00

--------------------------------------------------------------------------------
                                   Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IA-1-L     32,400,889.00    26,877,696.16     151,187.04  2,986,377.30    3,137,564.34           0.00        0.00     23,891,318.86
IA-2-L      3,140,000.00     3,140,000.00      17,662.50          0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3-L     15,156,755.00    15,156,755.00      74,820.57          0.00       74,820.57           0.00        0.00     15,156,755.00
IA-4-L     18,951,940.00    18,951,940.00     106,604.66          0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5-L     73,500,000.00    63,130,800.85     355,110.75  3,660,031.61    4,015,142.36           0.00        0.00     59,470,769.24
IA-6-L     25,717,028.00    25,717,028.00     144,658.28          0.00      144,658.28           0.00        0.00     25,717,028.00
IA-8-L      2,937,483.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
IA-9-L      3,929,529.00     3,929,529.00      32,539.78          0.00       32,539.78           0.00        0.00      3,929,529.00
IA-10-L    14,360,000.00    14,360,000.00      80,775.00          0.00       80,775.00           0.00        0.00     14,360,000.00
I-X-L               0.00             0.00      51,890.31          0.00       51,890.31           0.00        0.00              0.00
I-PO-L         43,461.00        43,227.06           0.00         43.82           43.82           0.00        0.00         43,183.24
I-B-L       7,922,383.17     7,883,953.82      44,347.24      6,443.50       50,790.74           0.00        0.00      7,877,510.32
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   179,190,929.89   1,059,596.13  6,652,896.23    7,712,492.36           0.00        0.00    172,538,033.66
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1-L                         829.535762     4.666139       92.169610       96.835749     737.366153    6.750000%         6.750000%
IA-2-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3-L                       1,000.000000     4.936450        0.000000        4.936450   1,000.000000    5.989840%         6.578750%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         858.922461     4.831439       49.796348       54.627787     809.126112    6.750000%         6.750000%
IA-6-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-8-L                           0.000000     0.000000        0.000000        0.000000       0.000000    6.750000%         6.750000%
IA-9-L                       1,000.000000     8.280835        0.000000        8.280835   1,000.000000    9.682046%         7.410536%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.261994        0.000000        0.261994       0.000000    6.750000%         6.750000%
I-PO-L                         994.617243     0.000000        1.008260        1.008260     993.608983    0.000000%         0.000000%
I-B-L                          995.149269     5.597715        0.813328        6.411043     994.335940    6.750000%         6.750000%
R-I                              0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%


     This statement is also available on Bankers Trust's Website, http://online.bankerstrust.com/invr/.  We begin posting statements
to the Web at 7:00pm Eastern Time on the business day before each distribution date.

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                     November 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 28, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IIA-1-L   100,392,251.00    91,330,556.87   494,707.18    1,218,111.85    1,712,819.03           0.00        0.00     90,112,445.02
II-X-L              0.00             0.00    11,390.55            0.00       11,390.55           0.00        0.00              0.00
II-PO-L       148,157.00       145,129.38         0.00          509.53          509.53           0.00        0.00        144,619.85
II-B-L      2,314,231.16     2,269,856.37    12,295.05        7,630.04       19,925.09           0.00        0.00      2,262,226.33
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    93,745,542.62   518,392.78    1,226,251.42    1,744,644.20           0.00        0.00     92,519,291.20
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1-L                        909.737116     4.927743       12.133525       17.061267     897.603591    6.500000%         6.500000%
II-X-L                           0.000000     0.110744        0.000000        0.110744       0.000000    6.500000%         6.500000%
II-PO-L                        979.564786     0.000000        3.439122        3.439122     976.125664    0.000000%         0.000000%
II-B-L                         980.825256     5.312801        3.297009        8.609810     977.528247    6.500000%         6.500000%
R-II                             0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                     November 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 28, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                        STATEMENTS TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>               <C>             <C>           <C>             <C>                    <C>         <C>      <C>
IA-1       31,022,128.00    25,733,964.61   151,187.04    2,859,297.43    3,010,484.47           0.00        0.00     22,874,667.18
IA-2        3,140,000.00     3,140,000.00    17,662.50            0.00       17,662.50           0.00        0.00      3,140,000.00
IA-3       15,156,755.00    15,156,755.00    74,820.57            0.00       74,820.57           0.00        0.00     15,156,755.00
IA-4       18,951,940.00    18,951,940.00   106,604.66            0.00      106,604.66           0.00        0.00     18,951,940.00
IA-5       73,500,000.00    63,130,800.85   355,110.75    3,660,031.61    4,015,142.36           0.00        0.00     59,470,769.24
IA-6       25,717,028.00    25,717,028.00   144,658.28            0.00      144,658.28           0.00        0.00     25,717,028.00
IA-7        1,378,761.00     1,143,731.55         0.00      127,079.87      127,079.87           0.00        0.00      1,016,651.68
IA-8        2,937,483.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
IA-9        3,929,529.00     3,929,529.00    32,539.78            0.00       32,539.78           0.00        0.00      3,929,529.00
IA-10       4,600,000.00     4,600,000.00    25,300.00            0.00       25,300.00           0.00        0.00      4,600,000.00
IA-11       9,760,000.00     9,760,000.00    53,680.00            0.00       53,680.00           0.00        0.00      9,760,000.00
IA-12               0.00             0.00     1,795.00            0.00        1,795.00           0.00        0.00              0.00
I-X                 0.00             0.00    51,890.31            0.00       51,890.31           0.00        0.00              0.00
I-PO           43,461.00        43,227.06         0.00           43.82           43.82           0.00        0.00         43,183.24
I-M         3,664,102.00     3,646,328.43    20,510.60        2,980.12       23,490.72           0.00        0.00      3,643,348.31
IB-1        1,683,506.00     1,675,339.76     9,423.79        1,369.24       10,793.03           0.00        0.00      1,673,970.52
IB-2          891,268.00       886,944.70     4,989.06          724.89        5,713.95           0.00        0.00        886,219.81
IB-3          693,208.00       689,845.44     3,880.38          563.81        4,444.19           0.00        0.00        689,281.63
IB-4          495,148.00       492,746.17     2,771.70          402.72        3,174.42           0.00        0.00        492,343.45
IB-5          495,151.17       492,749.32     2,771.71          402.72        3,174.43           0.00        0.00        492,346.60
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     *See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>           <C>              <C>            <C>             <C>         <C>             <C>               <C>
IA-1           055240DV4       829.535763     4.873523       92.169610       97.043132     737.366153    7.050000%         7.050000%
IA-2           055240DW2     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-3           055240DX0     1,000.000000     4.936450        0.000000        4.936450   1,000.000000    5.989840%         6.578750%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       858.922461     4.831439       49.796348       54.627787     809.126112    6.750000%         6.750000%
IA-6           055240EA9     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-7           055240EB7       829.535757     0.000000       92.169615       92.169615     737.366143    0.000000%         0.000000%
IA-8           055240EC5         0.000000     0.000000        0.000000        0.000000       0.000000    6.750000%         6.750000%
IA-9           055240ED3     1,000.000000     8.280835        0.000000        8.280835   1,000.000000    9.682046%         7.410536%
IA-10          055240EE1     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-11          055240EF8     1,000.000000     5.500000        0.000000        5.500000   1,000.000000    6.600000%         6.600000%
IA-12          055240EG6         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-X            055240EJ0         0.000000     5.625000        0.000000        5.625000       0.000000    6.750000%         6.750000%
I-PO           055240EL5       994.617243     0.000000        1.008260        1.008260     993.608983    0.000000%         0.000000%
I-M            055240EN1       995.149270     5.597715        0.813329        6.411044     994.335941    6.750000%         6.750000%
IB-1           055240EP6       995.149266     5.597717        0.813326        6.411043     994.335939    6.750000%         6.750000%
IB-2           055240EQ4       995.149270     5.597710        0.813324        6.411035     994.335946    6.750000%         6.750000%
IB-3           055240EX9       995.149277     5.597714        0.813335        6.411048     994.335942    6.750000%         6.750000%
IB-4           055240EY7       995.149269     5.597720        0.813333        6.411053     994.335936    6.750000%         6.750000%
IB-5           055240EZ4       995.149259     5.597705        0.813327        6.411032     994.335932    6.750000%         6.750000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                     November 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 28, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

<TABLE>
                                                      DISTRIBUTIONS IN DOLLARS
<CAPTION>
                                    PRIOR                                                                                   CURRENT
                ORIGINAL        PRINCIPAL                                                     REALIZED    DEFERRED        PRINCIPAL
CLASS         FACE VALUE          BALANCE       INTEREST      PRINCIPAL           TOTAL         LOSSES    INTEREST          BALANCE
-------   --------------   --------------   ------------  -------------   -------------   ------------   ---------   --------------
<S>       <C>              <C>              <C>           <C>             <C>                    <C>         <C>      <C>
IIA-1     100,392,251.00    91,330,556.87     494,707.18  1,218,111.85    1,712,819.03           0.00        0.00     90,112,445.02
II-X                0.00             0.00      11,390.55          0.00       11,390.55           0.00        0.00              0.00
II-PO         148,157.00       145,129.38           0.00        509.53          509.53           0.00        0.00        144,619.85
IIM           874,264.00       857,500.25       4,644.79      2,882.45        7,527.24           0.00        0.00        854,617.80
IIB-1         462,846.00       453,971.04       2,459.01      1,526.01        3,985.02           0.00        0.00        452,445.03
IIB-2         308,564.00       302,647.35       1,639.34      1,017.34        2,656.68           0.00        0.00        301,630.01
IIB-3         308,564.00       302,647.35       1,639.34      1,017.34        2,656.68           0.00        0.00        301,630.01
IIB-4         154,282.00       151,323.68         819.67        508.67        1,328.34           0.00        0.00        150,815.01
IIB-5         205,711.16       201,766.70       1,092.90        678.23        1,771.13           0.00        0.00        201,088.47
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   272,936,472.51   1,577,988.91  7,879,147.65    9,457,136.56           0.00        0.00    265,057,324.86
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</TABLE>

<TABLE>
<CAPTION>
                            FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                         PASS-THROUGH RATES
-----------------------------------------------------------------------------------------------------   ---------------------------

                                    PRIOR                                                     CURRENT
                                PRINCIPAL                                                   PRINCIPAL
CLASS              CUSIP          BALANCE     INTEREST       PRINCIPAL           TOTAL        BALANCE     CURRENT              NEXT
-------   --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
<S>            <C>             <C>            <C>            <C>             <C>           <C>           <C>               <C>
IIA-1          055240EH4       909.737116     4.927743       12.133525       17.061267     897.603591    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416665        0.000000        5.416665       0.000000    6.500000%         6.500000%
II-PO          055240EM3       979.564786     0.000000        3.439122        3.439122     976.125664    0.000000%         0.000000%
IIM            055240ER2       980.825300     5.312800        3.297002        8.609802     977.528298    6.500000%         6.500000%
IIB-1          055240ES0       980.825242     5.312804        3.297015        8.609818     977.528228    6.500000%         6.500000%
IIB-2          055240ET8       980.825210     5.312804        3.297015        8.609818     977.528195    6.500000%         6.500000%
IIB-3          055240FA8       980.825210     5.312804        3.297015        8.609818     977.528195    6.500000%         6.500000%
IIB-4          055240FB6       980.825242     5.312804        3.297015        8.609818     977.528228    6.500000%         6.500000%
IIB-5          055240FC4       980.825250     5.312789        3.297001        8.609791     977.528249    6.500000%         6.500000%
R-III          055240EW1         0.000000     0.000000        0.000000        0.000000       0.000000    0.000000%         0.000000%

------------------------------------------------------------------------------------------------------------------------------------
SELLER:                                             Bank of America                ADMINISTRATOR:                  Kelly L. Shea
SERVICER:                                           Bank of America                                            Bankers Trust Company
LEAD UNDERWRITER:                             Donaldson, Lufkin & Jenrette                                         3 Park Plaza
RECORD DATE:                                     November 30, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 28, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          December 28, 1998

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                        GROUP I                                  GROUP II
--------------------------                                        -------                                  --------
<S>                                                        <C>                                        <C>
BEGINNING BALANCE OF POOL                                  179,190,930.24                             93,745,542.89
LESS:  SCHEDULED PRINCIPAL                                    (146,454.28)                              (315,143.92)
       PRINCIPAL PREPAYMENTS                                (6,506,441.95)                              (911,107.50)
       REPURCHASES                                                   0.00                                      0.00
       LIQUIDATIONS                                                  0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                   0.00                                      0.00
                                                     ---------------------                     ---------------------
ENDING BALANCE OF POOL                                     172,538,034.01                             92,519,291.47
                                                     =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                     571                                       287
ENDING NUMBER OF LOANS IN POOL                                        550                                       284

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                           341                                       170
WEIGHTED AVERAGE NET CONTRACT RATE                              7.581830%                                 7.122432%

CURRENT REALIZED LOSSES ON THE POOL                                  0.00                                      0.00
CUMULATIVE REALIZED LOSSES ON THE POOL                               0.00                                      0.00
</TABLE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
DELINQUENT, BANKRUPTCY,                                                                        LOANS         LOANS         LOANS
FORECLOSURE, AND REO                               30 TO 59      60 TO 89       90 PLUS         IN             IN           IN
LOAN INFORMATION                                      DAYS          DAYS          DAYS      BANKRUPTCY    FORECLOSURE       REO
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                <C>              <C>            <C>       <C>               <C>           <C>
GROUP I      PRINCIPAL BALANCE                  231,002.47          0.00          0.00    528,873.34          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.1199%       0.0000%       0.0000%       0.2398%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                        0.00          0.00          0.00          0.00          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.0000%       0.0000%       0.0000%
------------------------------------------------------------------------------------------------------------------------------------
*REO'S, FORECLOSURES, AND BANKRUPTCIES ARE INCLUDED IN THE APPROPRIATE DELINQUENCY CATEGORIES.
             GROUP I BOOK VALUE OF REO PROPERTIES                                                               NA
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              NA
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                              GROUP I                                  GROUP II
----------------------                                              -------                                  --------
<S>                                                               <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD              71,523.25                                 37,473.89
PLUS:   ADDITIONAL SERVICING COMPENSATION                              0.00                                      0.00
LESS:   AMTS. TO COVER PREPAYMENT INT. SHORTFALL                 (23,461.47)                                (1,586.65)
        DELINQUENT SERVICING FEES                                   (133.40)                                     0.00
                                                       ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD               47,928.38                                 35,887.24
                                                       =====================                     =====================

ADVANCED PRINCIPAL                                                   252.45                                      0.00
ADVANCED INTEREST                                                  1,406.61                                      0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          December 28, 1998

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                            OTHER                                 CUMULATIVE
                                    PREPAYMENT           UNSCHEDULED         CERTIFICATE            UNPAID            CUMULATIVE
                                     PRINCIPAL            PRINCIPAL           INTEREST             INTEREST            REALIZED
CLASS                               DISTRIBUTED          DISTRIBUTED          SHORTFALL            SHORTFALL            LOSSES
------------------------------------------------------------------------------------------------------------------------------------
<S>                               <C>                       <C>                 <C>                  <C>                 <C>
CLASS IA-1                        2,799,080.98              0.00                0.00                 0.00                0.00
CLASS IA-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-5                        3,582,951.80              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                          124,403.58              0.00                0.00                 0.00                0.00
CLASS IA-8                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-9                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-10                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-11                               0.00              0.00                0.00                 0.00                0.00
CLASS IA-12                               0.00              0.00                0.00                 0.00                0.00
CLASS I-X                                 0.00              0.00                0.00                 0.00                0.00
CLASS I-PO                                5.59              0.00                0.00                 0.00                0.00
CLASS I-M                                 0.00              0.00                0.00                 0.00                0.00
CLASS IB-1                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-2                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-3                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-4                                0.00              0.00                0.00                 0.00                0.00
CLASS IB-5                                0.00              0.00                0.00                 0.00                0.00
CLASS IIA-1                         911,107.50              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               0.00              0.00                0.00                 0.00                0.00
CLASS IIM                                 0.00              0.00                0.00                 0.00                0.00
CLASS IIB-1                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-2                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-3                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-4                               0.00              0.00                0.00                 0.00                0.00
CLASS IIB-5                               0.00              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
 TOTALS                           7,417,549.45              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1998 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          December 28, 1998

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                                95.599188%
GROUP IA PREPAYMENT PERCENTAGE                                    100.000000%
GROUP IIA PERCENTAGE                                               97.574950%
GROUP IIA PREPAYMENT PERCENTAGE                                   100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    6,443.50
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                   7,630.04
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?               NO

BANKRUPTCY AMOUNT                                                  100,000.00
FRAUD LOSS AMOUNT                                                3,009,142.57
SPECIAL HAZARD AMOUNT                                            3,009,143.00
EXTRAORDINARY LOSSES FOR THE PRIOR PERIOD                                0.00

GROUP I EXTRAORDINARY LOSSES                                             0.00
GROUP II EXTRAORDINARY LOSSES                                            0.00

--------------------------------------------------------------------------------
                                   Page 7 of 7

                                        (C) COPYRIGHT 1998 Bankers Trust Company