EXHIBIT 99.1

                          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    23,891,318.86     134,388.67  2,052,565.15    2,186,953.82           0.00        0.00     21,838,753.71
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      83,093.75          0.00       83,093.75           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    59,470,769.24     334,523.08  2,515,574.06    2,850,097.14           0.00        0.00     56,955,195.18
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      24,266.60          0.00       24,266.60           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      49,721.33          0.00       49,721.33           0.00        0.00              0.00
I-PO-L         43,461.00        43,183.24           0.00         44.07           44.07           0.00        0.00         43,139.17
I-B-L       7,922,383.17     7,877,510.32      44,310.99      6,551.52       50,862.51           0.00        0.00      7,870,958.80
R-I                50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   172,538,033.66   1,020,004.86  4,574,734.80    5,594,739.66           0.00        0.00    167,963,298.86
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</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>
IA-1-L                         737.366153     4.147685       63.349038       67.496723     674.017114    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     5.482292        0.000000        5.482292   1,000.000000    6.578750%         5.889690%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         809.126112     4.551334       34.225497       38.776832     774.900615    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     6.175447        0.000000        6.175447   1,000.000000    7.410536%        10.068339%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.251042        0.000000        0.251042       0.000000    6.750000%         6.750000%
I-PO-L                         993.608983     0.000000        1.014013        1.014013     992.594970    0.000000%         0.000000%
I-B-L                          994.335940     5.593139        0.826963        6.420102     993.508977    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:                                     December 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                January 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 1 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

<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    90,112,445.02   488,109.08    2,729,318.39    3,217,427.47           0.00        0.00     87,383,126.63
II-X-L              0.00             0.00    11,152.10            0.00       11,152.10           0.00        0.00              0.00
II-PO-L       148,157.00       144,619.85         0.00          523.39          523.39           0.00        0.00        144,096.46
II-B-L      2,314,231.16     2,262,226.33    12,253.72        7,565.38       19,819.10           0.00        0.00      2,254,660.95
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    92,519,291.20   511,514.90    2,737,407.16    3,248,922.06           0.00        0.00     89,781,884.04
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                        897.603591     4.862019       27.186544       32.048564     870.417047    6.500000%         6.500000%
II-X-L                           0.000000     0.108426        0.000000        0.108426       0.000000    6.500000%         6.500000%
II-PO-L                        976.125664     0.000000        3.532671        3.532671     972.592993    0.000000%         0.000000%
II-B-L                         977.528247     5.294942        3.269068        8.564011     974.259179    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:                                     December 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                January 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    22,874,667.18   134,388.67    1,965,221.97    2,099,610.64           0.00        0.00     20,909,445.21
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    83,093.75            0.00       83,093.75           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    59,470,769.24   334,523.08    2,515,574.06    2,850,097.14           0.00        0.00     56,955,195.18
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     1,016,651.68         0.00       87,343.18       87,343.18           0.00        0.00        929,308.50
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    24,266.60            0.00       24,266.60           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    49,721.33            0.00       49,721.33           0.00        0.00              0.00
I-PO           43,461.00        43,183.24         0.00           44.07           44.07           0.00        0.00         43,139.17
I-M         3,664,102.00     3,643,348.31    20,493.83        3,030.07       23,523.90           0.00        0.00      3,640,318.24
IB-1        1,683,506.00     1,673,970.52     9,416.08        1,392.20       10,808.28           0.00        0.00      1,672,578.32
IB-2          891,268.00       886,219.81     4,984.99          737.05        5,722.04           0.00        0.00        885,482.76
IB-3          693,208.00       689,281.63     3,877.21          573.26        4,450.47           0.00        0.00        688,708.37
IB-4          495,148.00       492,343.45     2,769.43          409.47        3,178.90           0.00        0.00        491,933.98
IB-5          495,151.17       492,346.60     2,769.45          409.47        3,178.92           0.00        0.00        491,937.13
------------------------------------------------------------------------------------------------------------------------------------
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       737.366153     4.332026       63.349038       67.681064     674.017115    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     5.482292        0.000000        5.482292   1,000.000000    6.578750%         5.889690%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       809.126112     4.551334       34.225497       38.776832     774.900615    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       737.366143     0.000000       63.349036       63.349036     674.017107    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     6.175447        0.000000        6.175447   1,000.000000    7.410536%        10.068339%
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       993.608983     0.000000        1.014013        1.014013     992.594970    0.000000%         0.000000%
I-M            055240EN1       994.335941     5.593139        0.826961        6.420100     993.508980    6.750000%         6.750000%
IB-1           055240EP6       994.335939     5.593137        0.826965        6.420102     993.508975    6.750000%         6.750000%
IB-2           055240EQ4       994.335946     5.593144        0.826968        6.420112     993.508978    6.750000%         6.750000%
IB-3           055240EX9       994.335942     5.593141        0.826967        6.420108     993.508976    6.750000%         6.750000%
IB-4           055240EY7       994.335936     5.593136        0.826965        6.420101     993.508971    6.750000%         6.750000%
IB-5           055240EZ4       994.335932     5.593140        0.826960        6.420100     993.508972    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:                                     December 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                January 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

<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    90,112,445.02     488,109.08  2,729,318.39    3,217,427.47           0.00        0.00     87,383,126.63
II-X                0.00             0.00      11,152.10          0.00       11,152.10           0.00        0.00              0.00
II-PO         148,157.00       144,619.85           0.00        523.39          523.39           0.00        0.00        144,096.46
IIM           874,264.00       854,617.80       4,629.18      2,858.02        7,487.20           0.00        0.00        851,759.78
IIB-1         462,846.00       452,445.03       2,450.74      1,513.08        3,963.82           0.00        0.00        450,931.95
IIB-2         308,564.00       301,630.01       1,633.83      1,008.72        2,642.55           0.00        0.00        300,621.29
IIB-3         308,564.00       301,630.01       1,633.83      1,008.72        2,642.55           0.00        0.00        300,621.29
IIB-4         154,282.00       150,815.01         816.91        504.36        1,321.27           0.00        0.00        150,310.65
IIB-5         205,711.16       201,088.47       1,089.23        672.48        1,761.71           0.00        0.00        200,415.99
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   265,057,324.86   1,531,519.76  7,312,141.96    8,843,661.72           0.00        0.00    257,745,182.90
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</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       897.603591     4.862019       27.186544       32.048564     870.417047    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416665        0.000000        5.416665       0.000000    6.500000%         6.500000%
II-PO          055240EM3       976.125664     0.000000        3.532671        3.532671     972.592993    0.000000%         0.000000%
IIM            055240ER2       977.528298     5.294945        3.269058        8.564004     974.259240    6.500000%         6.500000%
IIB-1          055240ES0       977.528228     5.294936        3.269079        8.564015     974.259149    6.500000%         6.500000%
IIB-2          055240ET8       977.528195     5.294947        3.269079        8.564026     974.259116    6.500000%         6.500000%
IIB-3          055240FA8       977.528195     5.294947        3.269079        8.564026     974.259116    6.500000%         6.500000%
IIB-4          055240FB6       977.528228     5.294915        3.269079        8.563993     974.259149    6.500000%         6.500000%
IIB-5          055240FC4       977.528249     5.294949        3.269050        8.563998     974.259199    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:                                     December 31, 1998                                               Irvine, CA 92614
DISTRIBUTION DATE:                                January 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          January 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                        GROUP I                                  GROUP II
--------------------------                                        -------                                  --------
<S>                                                        <C>                                        <C>
BEGINNING BALANCE OF POOL                                  172,538,034.01                             92,519,291.47
LESS:  SCHEDULED PRINCIPAL                                    (143,497.96)                              (309,433.22)
       PRINCIPAL PREPAYMENTS                                (4,431,236.84)                            (2,427,973.94)
       REPURCHASES                                                   0.00                                      0.00
       LIQUIDATIONS                                                  0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                   0.00                                      0.00
                                                     ---------------------                     ---------------------
ENDING BALANCE OF POOL                                     167,963,299.21                             89,781,884.31
                                                     =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                     550                                       284
ENDING NUMBER OF LOANS IN POOL                                        536                                       277

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                           340                                       169
WEIGHTED AVERAGE NET CONTRACT RATE                              7.578349%                                 7.119176%

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                  257,270.20          0.00          0.00    528,178.26          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0998%       0.0000%       0.0000%       0.2049%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.1230%       0.0000%       0.0000%       0.2460%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                               GROUP I                                  GROUP II
----------------------                                               -------                                  --------
<S>                                                               <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD               68,618.52                                 36,829.67
PLUS:   ADDITIONAL SERVICING COMPENSATION                               0.00                                      0.00
LESS:   AMTS. TO COVER PREPAYMENT INT. SHORTFALL                  (15,458.96)                               (11,507.71)
        DELINQUENT SERVICING FEES                                       0.00                                   (124.45)
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                53,159.56                                 25,197.51
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                      0.00                                    863.86
ADVANCED INTEREST                                                       0.00                                  1,403.09

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          January 25, 1999

<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                        1,906,323.91              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                        2,440,181.85              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           84,725.49              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                       2,427,962.84              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              11.10              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                           6,859,210.78              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          January 25, 1999

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                               95.433191%
GROUP IA PREPAYMENT PERCENTAGE                                   100.000000%
GROUP IIA PERCENTAGE                                              97.551032%
GROUP IIA PREPAYMENT PERCENTAGE                                  100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                   6,551.52
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  7,565.38
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 1999 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

<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    21,838,753.71   122,842.99    1,482,738.43    1,605,581.42           0.00        0.00     20,356,015.28
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    74,390.49            0.00       74,390.49           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    56,955,195.18   320,372.97    1,817,208.25    2,137,581.22           0.00        0.00     55,137,986.93
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    32,969.86            0.00       32,969.86           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    48,155.01            0.00       48,155.01           0.00        0.00              0.00
I-PO-L         43,461.00        43,139.17         0.00           44.32           44.32           0.00        0.00         43,094.85
I-B-L       7,922,383.17     7,870,958.80    44,274.14        6,649.46       50,923.60           0.00        0.00      7,864,309.34
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   167,963,298.86   992,705.90    3,306,640.46    4,299,346.36           0.00        0.00    164,656,658.40
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                         674.017114     3.791346       45.762276       49.553622     628.254838    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     4.908075        0.000000        4.908075   1,000.000000    5.889690%         5.889380%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         774.900615     4.358816       24.723922       29.082738     750.176693    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     8.390283        0.000000        8.390283   1,000.000000   10.068339%        10.069534%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.243134        0.000000        0.243134       0.000000    6.750000%         6.750000%
I-PO-L                         992.594970     0.000000        1.019765        1.019765     991.575205    0.000000%         0.000000%
I-B-L                          993.508977     5.588488        0.839326        6.427813     992.669651    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:                                      January 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               February 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                        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    87,383,126.63   473,325.27    2,746,033.48    3,219,358.75           0.00        0.00     84,637,093.15
II-X-L              0.00             0.00    10,595.61            0.00       10,595.61           0.00        0.00              0.00
II-PO-L       148,157.00       144,096.46         0.00          523.55          523.55           0.00        0.00        143,572.91
II-B-L      2,314,231.16     2,254,660.95    12,212.76        7,612.65       19,825.41           0.00        0.00      2,247,048.30
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    89,781,884.04   496,133.64    2,754,169.68    3,250,303.32           0.00        0.00     87,027,714.36
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                        870.417047     4.714759       27.353042       32.067801     843.064005    6.500000%         6.500000%
II-X-L                           0.000000     0.103015        0.000000        0.103015       0.000000    6.500000%         6.500000%
II-PO-L                        972.592993     0.000000        3.533751        3.533751     969.059241    0.000000%         0.000000%
II-B-L                         974.259179     5.277243        3.289494        8.566737     970.969685    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:                                      January 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               February 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    20,909,445.21   122,842.99    1,419,643.19    1,542,486.18           0.00        0.00     19,489,802.02
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    74,390.49            0.00       74,390.49           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    56,955,195.18   320,372.97    1,817,208.25    2,137,581.22           0.00        0.00     55,137,986.93
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       929,308.50         0.00       63,095.24       63,095.24           0.00        0.00        866,213.26
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    32,969.86            0.00       32,969.86           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    48,155.01            0.00       48,155.01           0.00        0.00              0.00
I-PO           43,461.00        43,139.17         0.00           44.32           44.32           0.00        0.00         43,094.85
I-M         3,664,102.00     3,640,318.24    20,476.79        3,075.38       23,552.17           0.00        0.00      3,637,242.86
IB-1        1,683,506.00     1,672,578.32     9,408.25        1,413.01       10,821.26           0.00        0.00      1,671,165.31
IB-2          891,268.00       885,482.76     4,980.84          748.06        5,728.90           0.00        0.00        884,734.70
IB-3          693,208.00       688,708.37     3,873.98          581.83        4,455.81           0.00        0.00        688,126.54
IB-4          495,148.00       491,933.98     2,767.13          415.59        3,182.72           0.00        0.00        491,518.39
IB-5          495,151.17       491,937.13     2,767.15          415.59        3,182.74           0.00        0.00        491,521.54
------------------------------------------------------------------------------------------------------------------------------------
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       674.017115     3.959851       45.762276       49.722127     628.254839    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     4.908075        0.000000        4.908075   1,000.000000    5.889690%         5.889380%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       774.900615     4.358816       24.723922       29.082738     750.176693    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       674.017107     0.000000       45.762275       45.762275     628.254832    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     8.390283        0.000000        8.390283   1,000.000000   10.068339%        10.069534%
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       992.594970     0.000000        1.019765        1.019765     991.575205    0.000000%         0.000000%
I-M            055240EN1       993.508980     5.588488        0.839327        6.427815     992.669653    6.750000%         6.750000%
IB-1           055240EP6       993.508975     5.588486        0.839326        6.427812     992.669649    6.750000%         6.750000%
IB-2           055240EQ4       993.508978     5.588487        0.839321        6.427808     992.669657    6.750000%         6.750000%
IB-3           055240EX9       993.508976     5.588481        0.839330        6.427811     992.669646    6.750000%         6.750000%
IB-4           055240EY7       993.508971     5.588491        0.839325        6.427816     992.669646    6.750000%         6.750000%
IB-5           055240EZ4       993.508972     5.588495        0.839319        6.427815     992.669653    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:                                      January 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               February 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    87,383,126.63   473,325.27    2,746,033.48    3,219,358.75           0.00        0.00     84,637,093.15
II-X                0.00             0.00    10,595.61            0.00       10,595.61           0.00        0.00              0.00
II-PO         148,157.00       144,096.46         0.00          523.55          523.55           0.00        0.00        143,572.91
IIM           874,264.00       851,759.78     4,613.70        2,875.88        7,489.58           0.00        0.00        848,883.90
IIB-1         462,846.00       450,931.95     2,442.55        1,522.53        3,965.08           0.00        0.00        449,409.42
IIB-2         308,564.00       300,621.29     1,628.37        1,015.02        2,643.39           0.00        0.00        299,606.27
IIB-3         308,564.00       300,621.29     1,628.37        1,015.02        2,643.39           0.00        0.00        299,606.27
IIB-4         154,282.00       150,310.65       814.18          507.51        1,321.69           0.00        0.00        149,803.14
IIB-5         205,711.16       200,415.99     1,085.59          676.69        1,762.28           0.00        0.00        199,739.30
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
TOTALS    300,914,157.33   257,745,182.90   1,488,839.54  6,060,810.14    7,549,649.68           0.00        0.00    251,684,372.76
</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       870.417047     4.714759       27.353042       32.067801     843.064005    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416667        0.000000        5.416667       0.000000    6.500000%         6.500000%
II-PO          055240EM3       972.592993     0.000000        3.533751        3.533751     969.059241    0.000000%         0.000000%
IIM            055240ER2       974.259240     5.277239        3.289487        8.566726     970.969753    6.500000%         6.500000%
IIB-1          055240ES0       974.259149     5.277241        3.289496        8.566737     970.969653    6.500000%         6.500000%
IIB-2          055240ET8       974.259116     5.277252        3.289496        8.566748     970.969621    6.500000%         6.500000%
IIB-3          055240FA8       974.259116     5.277252        3.289496        8.566748     970.969621    6.500000%         6.500000%
IIB-4          055240FB6       974.259149     5.277220        3.289496        8.566715     970.969653    6.500000%         6.500000%
IIB-5          055240FC4       974.259199     5.277254        3.289515        8.566769     970.969684    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:                                      January 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               February 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          February 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                         GROUP I                                  GROUP II
--------------------------                                         -------                                  --------
<S>                                                         <C>                                        <C>
BEGINNING BALANCE OF POOL                                   167,963,299.21                             89,781,884.31
LESS:  SCHEDULED PRINCIPAL                                     (141,899.17)                              (303,168.51)
       PRINCIPAL PREPAYMENTS                                 (3,164,741.29)                            (2,451,001.17)
       REPURCHASES                                                    0.00                                      0.00
       LIQUIDATIONS                                                   0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                    0.00                                      0.00
                                                      ---------------------                     ---------------------
ENDING BALANCE OF POOL                                      164,656,658.75                             87,027,714.63
                                                      =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                      536                                       277
ENDING NUMBER OF LOANS IN POOL                                         525                                       270

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                            339                                       168
WEIGHTED AVERAGE NET CONTRACT RATE                               7.572474%                                 7.111782%

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    527,478.55        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%
------------------------------------------------------------------------------------------------------------------------------------
* REO'S, FORECLOSURES AND BANKRUPTCIES ARE INCLUDED IN THE APPROPRIATE 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               66,231.12                                 35,433.66
PLUS:  ADDITIONAL SERVICING COMPENSATION                                0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                   (11,522.39)                                (6,535.02)
       DELINQUENT SERVICING FEES                                   (3,315.67)                                (1,666.82)
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                51,393.06                                 27,231.82
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                  6,901.16                                 12,265.80
ADVANCED INTEREST                                                  49,215.55                                 19,842.27

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date: February 25, 1999

<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                        1,361,475.18              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                        1,742,750.53              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           60,510.00              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                       2,450,992.74              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                           5,615,742.46              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          February 25, 1999

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

GROUP IA PERCENTAGE                                              95.312678%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.484698%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,649.46
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,612.65
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 1999 Bankers Trust Company

<PAGE>

                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1999-2

                        STATEMENTS TO CERTIFICATEHOLDERS

     This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    20,356,015.28   114,502.59    1,756,460.66    1,870,963.25           0.00        0.00     18,599,554.62
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    74,386.57            0.00       74,386.57           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    55,137,986.93   310,151.18    2,152,675.58    2,462,826.76           0.00        0.00     52,985,311.35
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    32,973.77            0.00       32,973.77           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    47,015.78            0.00       47,015.78           0.00        0.00              0.00
I-PO-L         43,461.00        43,094.85         0.00           48.30           48.30           0.00        0.00         43,046.55
I-B-L       7,922,383.17     7,864,309.34    44,236.73        6,681.90       50,918.63           0.00        0.00      7,857,627.44
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   164,656,658.40   972,967.06    3,915,866.44    4,888,833.50           0.00        0.00    160,740,791.96
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                         628.254838     3.533934       54.210261       57.744195     574.044577    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     4.907816        0.000000        4.907816   1,000.000000    5.889380%         5.887500%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         750.176693     4.219744       29.288103       33.507847     720.888590    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     8.391278        0.000000        8.391278   1,000.000000   10.069534%        10.076786%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.237382        0.000000        0.237382       0.000000    6.750000%         6.750000%
I-PO-L                         991.575205     0.000000        1.111341        1.111341     990.463864    0.000000%         0.000000%
I-B-L                          992.669651     5.583766        0.843420        6.427186     991.826231    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:                                     February 26, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 March 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    84,637,093.15   458,450.92    2,825,648.83    3,284,099.75           0.00        0.00     81,811,444.32
II-X-L              0.00             0.00    10,177.88            0.00       10,177.88           0.00        0.00              0.00
II-PO-L       148,157.00       143,572.91         0.00          526.37          526.37           0.00        0.00        143,046.54
II-B-L      2,314,231.16     2,247,048.30    12,171.51        7,676.59       19,848.10           0.00        0.00      2,239,371.71
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    87,027,714.36   480,800.31    2,833,851.79    3,314,652.10           0.00        0.00     84,193,862.57
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                        843.064005     4.566597       28.146085       32.712682     814.917920    6.500000%         6.500000%
II-X-L                           0.000000     0.098954        0.000000        0.098954       0.000000    6.500000%         6.500000%
II-PO-L                        969.059241     0.000000        3.552785        3.552785     965.506456    0.000000%         0.000000%
II-B-L                         970.969685     5.259418        3.317123        8.576542     967.652562    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:                                     February 26, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 March 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    19,489,802.02   114,502.59    1,681,717.67    1,796,220.26           0.00        0.00     17,808,084.35
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    74,386.57            0.00       74,386.57           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    55,137,986.93   310,151.18    2,152,675.58    2,462,826.76           0.00        0.00     52,985,311.35
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       866,213.26         0.00       74,742.99       74,742.99           0.00        0.00        791,470.27
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    32,973.77            0.00       32,973.77           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    47,015.78            0.00       47,015.78           0.00        0.00              0.00
I-PO           43,461.00        43,094.85         0.00           48.30           48.30           0.00        0.00         43,046.55
I-M         3,664,102.00     3,637,242.86    20,459.49        3,090.38       23,549.87           0.00        0.00      3,634,152.48
IB-1        1,683,506.00     1,671,165.31     9,400.30        1,419.90       10,820.20           0.00        0.00      1,669,745.41
IB-2          891,268.00       884,734.70     4,976.63          751.71        5,728.34           0.00        0.00        883,982.99
IB-3          693,208.00       688,126.54     3,870.71          584.67        4,455.38           0.00        0.00        687,541.87
IB-4          495,148.00       491,518.39     2,764.79          417.62        3,182.41           0.00        0.00        491,100.77
IB-5          495,151.17       491,521.54     2,764.81          417.62        3,182.43           0.00        0.00        491,103.92
------------------------------------------------------------------------------------------------------------------------------------
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       628.254839     3.690997       54.210261       57.901259     574.044577    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     4.907816        0.000000        4.907816   1,000.000000    5.889380%         5.887500%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       750.176693     4.219744       29.288103       33.507847     720.888590    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       628.254832     0.000000       54.210258       54.210258     574.044573    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     8.391278        0.000000        8.391278   1,000.000000   10.069534%        10.076786%
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     5.624999        0.000000        5.624999       0.000000    6.750000%         6.750000%
I-PO           055240EL5       991.575205     0.000000        1.111341        1.111341     990.463864    0.000000%         0.000000%
I-M            055240EN1       992.669653     5.583766        0.843421        6.427187     991.826232    6.750000%         6.750000%
IB-1           055240EP6       992.669649     5.583764        0.843418        6.427182     991.826230    6.750000%         6.750000%
IB-2           055240EQ4       992.669657     5.583764        0.843416        6.427180     991.826241    6.750000%         6.750000%
IB-3           055240EX9       992.669646     5.583764        0.843427        6.427191     991.826220    6.750000%         6.750000%
IB-4           055240EY7       992.669646     5.583765        0.843425        6.427189     991.826222    6.750000%         6.750000%
IB-5           055240EZ4       992.669653     5.583769        0.843419        6.427189     991.826234    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:                                     February 26, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 March 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

<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    84,637,093.15   458,450.92    2,825,648.83    3,284,099.75           0.00        0.00     81,811,444.32
II-X                0.00             0.00    10,177.88            0.00       10,177.88           0.00        0.00              0.00
II-PO         148,157.00       143,572.91         0.00          526.37          526.37           0.00        0.00        143,046.54
IIM           874,264.00       848,883.90     4,598.12        2,900.05        7,498.17           0.00        0.00        845,983.85
IIB-1         462,846.00       449,409.42     2,434.30        1,535.32        3,969.62           0.00        0.00        447,874.10
IIB-2         308,564.00       299,606.27     1,622.87        1,023.54        2,646.41           0.00        0.00        298,582.73
IIB-3         308,564.00       299,606.27     1,622.87        1,023.54        2,646.41           0.00        0.00        298,582.73
IIB-4         154,282.00       149,803.14       811.43          511.77        1,323.20           0.00        0.00        149,291.37
IIB-5         205,711.16       199,739.30     1,081.92          682.37        1,764.29           0.00        0.00        199,056.93
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   251,684,372.76   1,453,767.37  6,749,718.23    8,203,485.60           0.00        0.00    244,934,654.53
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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       843.064005     4.566597       28.146085       32.712682     814.917920    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416668        0.000000        5.416668       0.000000    6.500000%         6.500000%
II-PO          055240EM3       969.059241     0.000000        3.552785        3.552785     965.506456    0.000000%         0.000000%
IIM            055240ER2       970.969753     5.259418        3.317133        8.576551     967.652620    6.500000%         6.500000%
IIB-1          055240ES0       970.969653     5.259417        3.317129        8.576546     967.652524    6.500000%         6.500000%
IIB-2          055240ET8       970.969621     5.259428        3.317108        8.576535     967.652513    6.500000%         6.500000%
IIB-3          055240FA8       970.969621     5.259428        3.317108        8.576535     967.652513    6.500000%         6.500000%
IIB-4          055240FB6       970.969653     5.259395        3.317108        8.576503     967.652545    6.500000%         6.500000%
IIB-5          055240FC4       970.969684     5.259413        3.317127        8.576540     967.652557    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:                                     February 26, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 Marchr 25, 1998                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          March 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                GROUP I                                  GROUP II
--------------------------                                -------                                  --------
<S>                                                <C>                                        <C>
BEGINNING BALANCE OF POOL                          164,656,658.75                             87,027,714.63
LESS:  SCHEDULED PRINCIPAL                            (139,902.70)                              (297,340.05)
       PRINCIPAL PREPAYMENTS                        (3,775,963.74)                            (2,536,511.74)
       REPURCHASES                                           0.00                                      0.00
       LIQUIDATIONS                                          0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                           0.00                                      0.00
                                             ---------------------                     ---------------------
ENDING BALANCE OF POOL                             160,740,792.31                             84,193,862.84
                                             =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                             525                                       270
ENDING NUMBER OF LOANS IN POOL                                514                                       262

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                   337                                       167
WEIGHTED AVERAGE NET CONTRACT RATE                      7.568795%                                 7.105628%

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                  262,791.14          0.00          0.00    526,774.17          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.1635%       0.0000%       0.0000%       0.3277%       0.0000%       0.0000%
             NUMBER OF LOANS                             1             0             0             2             0             0
               PERCENTAGE OF LOANS                  0.1946%       0.0000%       0.0000%       0.3891%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                               GROUP I                                  GROUP II
----------------------                                               -------                                  --------
<S>                                                                <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD               64,618.24                                 34,014.16
PLUS:  ADDITIONAL SERVICING COMPENSATION                                0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                   (13,465.10)                                (9,363.57)
       DELINQUENT SERVICING FEES                                   (1,631.75)                                  (691.67)
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                49,521.39                                 23,958.92
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                  4,079.53                                  4,964.98
ADVANCED INTEREST                                                  28,032.40                                  7,786.72

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          March 25, 1999

<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                        1,624,422.61              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                        2,079,335.28              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           72,196.54              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                                9.31              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                       2,536,503.31              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                           6,312,475.48              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          March 25, 1999

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

GROUP IA PERCENTAGE                                                 95.222563%
GROUP IA PREPAYMENT PERCENTAGE                                     100.000000%
GROUP IIA PERCENTAGE                                                97.413742%
GROUP IIA PREPAYMENT PERCENTAGE                                    100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                     6,681.90
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    7,676.59
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                 NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?                NO

GROUP I BANKRUPTCY AMOUNT                                           100,000.00
GROUP II 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 1999 Bankers Trust Company

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

     This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    18,599,554.62   104,622.50    2,161,860.04    2,266,482.54           0.00        0.00     16,437,694.58
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    74,362.83            0.00       74,362.83           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    52,985,311.35   298,042.38    2,649,523.23    2,947,565.61           0.00        0.00     50,335,788.12
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    32,997.52            0.00       32,997.52           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    45,242.01            0.00       45,242.01           0.00        0.00              0.00
I-PO-L         43,461.00        43,046.55         0.00           48.57           48.57           0.00        0.00         42,997.98
I-B-L       7,922,383.17     7,857,627.44    44,199.15        6,690.32       50,889.47           0.00        0.00      7,850,937.12
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    198,059,518.17   160,740,791.96   949,166.83    4,818,122.16    5,767,288.99           0.00        0.00    155,922,669.80
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
</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                         574.044577     3.229001       66.722245       69.951245     507.322332    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     4.906250        0.000000        4.906250   1,000.000000    5.887500%         5.856250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         720.888590     4.054998       36.047935       40.102933     684.840655    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     8.397322        0.000000        8.397322   1,000.000000   10.076786%        10.197321%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L                            0.000000     0.228426        0.000000        0.228426       0.000000    6.750000%         6.750000%
I-PO-L                         990.463864     0.000000        1.117554        1.117554     989.346310    0.000000%         0.000000%
I-B-L                          991.826231     5.579022        0.844483        6.423505     990.981748    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:                                        March 31, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                  April 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    81,811,444.32   443,145.32    2,451,901.26    2,895,046.58           0.00        0.00     79,359,543.06
II-X-L              0.00             0.00     9,845.03            0.00        9,845.03           0.00        0.00              0.00
II-PO-L       148,157.00       143,046.54         0.00          528.54          528.54           0.00        0.00        142,518.00
II-B-L      2,314,231.16     2,239,371.71    12,129.92        7,762.53       19,892.45           0.00        0.00      2,231,609.18
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    102,854,689.16    84,193,862.57   465,120.27    2,460,192.33    2,925,312.60           0.00        0.00     81,733,670.24
          ==============   ==============   ==========   =============   =============   ============   =========    ==============

                                                                            8692601.59
</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                        814.917920     4.414139       24.423212       28.837351     790.494707    6.500000%         6.500000%
II-X-L                           0.000000     0.095718        0.000000        0.095718       0.000000    6.500000%         6.500000%
II-PO-L                        965.506456     0.000000        3.567432        3.567432     961.939024    0.000000%         0.000000%
II-B-L                         967.652562     5.241447        3.354259        8.595706     964.298303    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:                                        March 31, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                  April 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    17,808,084.35   104,622.50    2,069,866.01    2,174,488.51           0.00        0.00     15,738,218.34
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    74,362.83            0.00       74,362.83           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    52,985,311.35   298,042.38    2,649,523.23    2,947,565.61           0.00        0.00     50,335,788.12
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       791,470.27         0.00       91,994.03       91,994.03           0.00        0.00        699,476.24
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    32,997.52            0.00       32,997.52           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    45,242.01            0.00       45,242.01           0.00        0.00              0.00
I-PO           43,461.00        43,046.55         0.00           48.57           48.57           0.00        0.00         42,997.98
I-M         3,664,102.00     3,634,152.48    20,442.11        3,094.28       23,536.39           0.00        0.00      3,631,058.20
IB-1        1,683,506.00     1,669,745.41     9,392.32        1,421.69       10,814.01           0.00        0.00      1,668,323.72
IB-2          891,268.00       883,982.99     4,972.40          752.66        5,725.06           0.00        0.00        883,230.33
IB-3          693,208.00       687,541.87     3,867.42          585.40        4,452.82           0.00        0.00        686,956.47
IB-4          495,148.00       491,100.77     2,762.44          418.14        3,180.58           0.00        0.00        490,682.63
IB-5          495,151.17       491,103.92     2,762.46          418.15        3,180.61           0.00        0.00        490,685.77
------------------------------------------------------------------------------------------------------------------------------------
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       574.044577     3.372512       66.722245       70.094757     507.322333    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     4.906250        0.000000        4.906250   1,000.000000    5.887500%         5.856250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       720.888590     4.054998       36.047935       40.102933     684.840655    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       574.044573     0.000000       66.722246       66.722246     507.322328    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     8.397322        0.000000        8.397322   1,000.000000   10.076786%        10.197321%
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       990.463864     0.000000        1.117554        1.117554     989.346310    0.000000%         0.000000%
I-M            055240EN1       991.826232     5.579023        0.844485        6.423508     990.981747    6.750000%         6.750000%
IB-1           055240EP6       991.826230     5.579024        0.844482        6.423505     990.981749    6.750000%         6.750000%
IB-2           055240EQ4       991.826241     5.579018        0.844482        6.423500     990.981759    6.750000%         6.750000%
IB-3           055240EX9       991.826220     5.579018        0.844480        6.423498     990.981740    6.750000%         6.750000%
IB-4           055240EY7       991.826222     5.579019        0.844475        6.423494     990.981747    6.750000%         6.750000%
IB-5           055240EZ4       991.826234     5.579023        0.844490        6.423513     990.981744    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:                                        March 31, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                  April 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    81,811,444.32     443,145.32  2,451,901.26    2,895,046.58           0.00        0.00     79,359,543.06
II-X                0.00             0.00       9,845.03          0.00        9,845.03           0.00        0.00              0.00
II-PO         148,157.00       143,046.54           0.00        528.54          528.54           0.00        0.00        142,518.00
IIM           874,264.00       845,983.85       4,582.41      2,932.51        7,514.92           0.00        0.00        843,051.34
IIB-1         462,846.00       447,874.10       2,425.98      1,552.51        3,978.49           0.00        0.00        446,321.59
IIB-2         308,564.00       298,582.73       1,617.32      1,035.00        2,652.32           0.00        0.00        297,547.73
IIB-3         308,564.00       298,582.73       1,617.32      1,035.00        2,652.32           0.00        0.00        297,547.73
IIB-4         154,282.00       149,291.37         808.66        517.50        1,326.16           0.00        0.00        148,773.87
IIB-5         205,711.16       199,056.93       1,078.23        690.01        1,768.24           0.00        0.00        198,366.92
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    300,914,157.33   244,934,654.53   1,414,287.10  7,278,314.49    8,692,601.59           0.00        0.00    237,656,340.04
          ==============   ==============   ============ =============   =============   ============   =========    ==============
</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       814.917920     4.414139       24.423212       28.837351     790.494707    6.500000%         6.500000%
II-X           055240EK7         0.000000     5.416664        0.000000        5.416664       0.000000    6.500000%         6.500000%
II-PO          055240EM3       965.506456     0.000000        3.567432        3.567432     961.939024    0.000000%         0.000000%
IIM            055240ER2       967.652620     5.241449        3.354261        8.595710     964.298358    6.500000%         6.500000%
IIB-1          055240ES0       967.652524     5.241441        3.354269        8.595710     964.298255    6.500000%         6.500000%
IIB-2          055240ET8       967.652513     5.241441        3.354247        8.595688     964.298266    6.500000%         6.500000%
IIB-3          055240FA8       967.652513     5.241441        3.354247        8.595688     964.298266    6.500000%         6.500000%
IIB-4          055240FB6       967.652545     5.241441        3.354247        8.595688     964.298298    6.500000%         6.500000%
IIB-5          055240FC4       967.652557     5.241475        3.354266        8.595742     964.298291    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:                                        March 31, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                  April 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          April 26, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                      GROUP I                                  GROUP II
--------------------------                                      -------                                  --------
<S>                                                      <C>                                        <C>
BEGINNING BALANCE OF POOL                                160,740,792.31                             84,193,862.84
LESS:  SCHEDULED PRINCIPAL                                  (136,864.23)                              (291,873.42)
       PRINCIPAL PREPAYMENTS                              (4,681,257.93)                            (2,168,318.91)
       REPURCHASES                                                 0.00                                      0.00
       LIQUIDATIONS                                                0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                 0.00                                      0.00
                                                   ---------------------                     ---------------------
ENDING BALANCE OF POOL                                   155,922,670.15                             81,733,670.51
                                                   =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                   514                                       262
ENDING NUMBER OF LOANS IN POOL                                      497                                       255

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                         336                                       166
WEIGHTED AVERAGE NET CONTRACT RATE                            7.562003%                                 7.098980%

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                  229,982.51          0.00          0.00    526,065.10          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.1475%       0.0000%       0.0000%       0.3374%       0.0000%       0.0000%
             NUMBER OF LOANS                             1             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.2012%       0.0000%       0.0000%       0.4024%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                      GROUP I                                  GROUP II
----------------------                                                      -------                                  --------
<S>                                                                       <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                      62,832.80                                 32,464.01
PLUS:  ADDITIONAL SERVICING COMPENSATION                                       0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                          (17,998.97)                                (7,196.47)
       DELINQUENT SERVICING FEES                                            (132.81)                                     0.00
                                                               ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                       44,701.02                                 25,267.54
                                                               =====================                     =====================

ADVANCED PRINCIPAL                                                           259.25                                      0.00
ADVANCED INTEREST                                                          1,400.40                                      0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          April 26, 1999

<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                        2,013,881.84              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                        2,577,860.93              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           89,505.85              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                                9.31              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                       2,168,311.16              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                               7.75              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                           6,849,576.84              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          April 26, 1999

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

GROUP IA PERCENTAGE                                              95.110306%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.335693%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,690.32
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,762.53
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

GROUP I BANKRUPTCY AMOUNT                                        100,000.00
GROUP II 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 1999 Bankers Trust Company

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

     This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    16,437,694.58    92,462.03    1,587,918.08    1,680,380.11           0.00        0.00     14,849,776.50
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    73,968.12            0.00       73,968.12           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    50,335,788.12   283,138.81    1,946,113.90    2,229,252.71           0.00        0.00     48,389,674.22
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    33,392.23            0.00       33,392.23           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*     10,385,155.00     7,738,917.71    43,531.41            0.00       43,531.41           0.00        0.00      7,528,114.39
I-PO-L         43,461.00        42,997.98         0.00           48.85           48.85           0.00        0.00         42,949.13
I-B-L       7,922,383.17     7,850,937.12    44,161.52        6,791.27       50,952.79           0.00        0.00      7,844,145.85
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   163,661,587.51   920,354.56    3,540,872.10    4,461,226.66           0.00        0.00    159,909,912.09
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         507.322332     2.853688       49.008473       51.862161     458.313860    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     4.880208        0.000000        4.880208   1,000.000000    5.856250%         5.871250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         684.840655     3.852229       26.477740       30.329969     658.362915    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     8.497769        0.000000        8.497769   1,000.000000   10.197321%        10.139464%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         745.190391     4.191696        0.000000        4.191696     724.891866    6.750000%         6.750000%
I-PO-L                         989.346310     0.000000        1.123996        1.123996     988.222314    0.000000%         0.000000%
I-B-L                          990.981748     5.574272        0.857226        6.431498     990.124522    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:                                        April 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                    May 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    79,359,543.06   429,864.19    1,944,897.28    2,374,761.47           0.00        0.00     77,414,645.78
II-X-L*     2,345,961.00     1,744,508.45     9,449.42            0.00        9,449.42           0.00        0.00      1,702,080.80
II-PO-L       148,157.00       142,518.00         0.00          535.90          535.90           0.00        0.00        141,982.10
II-B-L      2,314,231.16     2,231,609.18    12,087.90        7,867.66       19,955.56           0.00        0.00      2,223,741.52
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    83,478,178.69   451,401.51    1,953,300.84    2,404,702.35           0.00        0.00     81,482,450.20
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        790.494707     4.281846       19.372982       23.654828     771.121725    6.500000%         6.500000%
II-X-L*                        743.622102     4.027953        0.000000        4.027953     725.536699    6.500000%         6.500000%
II-PO-L                        961.939024     0.000000        3.617109        3.617109     958.321915    0.000000%         0.000000%
II-B-L                         964.298303     5.223290        3.399686        8.622976     960.898617    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:                                        April 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                    May 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    15,738,218.34    92,462.03    1,520,347.11    1,612,809.14           0.00        0.00     14,217,871.23
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    73,968.12            0.00       73,968.12           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    50,335,788.12   283,138.81    1,946,113.90    2,229,252.71           0.00        0.00     48,389,674.22
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       699,476.24         0.00       67,570.97       67,570.97           0.00        0.00        631,905.27
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    33,392.23            0.00       33,392.23           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,738,917.71    43,531.41            0.00       43,531.41           0.00        0.00      7,738,917.71
I-PO           43,461.00        42,997.98         0.00           48.85           48.85           0.00        0.00         42,949.13
I-M         3,664,102.00     3,631,058.20    20,424.70        3,140.96       23,565.66           0.00        0.00      3,627,917.24
IB-1        1,683,506.00     1,668,323.72     9,384.32        1,443.14       10,827.46           0.00        0.00      1,666,880.58
IB-2          891,268.00       883,230.33     4,968.17          764.02        5,732.19           0.00        0.00        882,466.31
IB-3          693,208.00       686,956.47     3,864.13          594.24        4,458.37           0.00        0.00        686,362.23
IB-4          495,148.00       490,682.63     2,760.09          424.45        3,184.54           0.00        0.00        490,258.18
IB-5          495,151.17       490,685.77     2,760.11          424.46        3,184.57           0.00        0.00        490,261.31
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       507.322333     2.980519       49.008473       51.988991     458.313860    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     4.880208        0.000000        4.880208   1,000.000000    5.856250%         5.871250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       684.840655     3.852229       26.477740       30.329969     658.362915    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       507.322328     0.000000       49.008472       49.008472     458.313856    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     8.497769        0.000000        8.497769   1,000.000000   10.197321%        10.139464%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       745.190391     4.191696        0.000000        4.191696     745.190391    6.750000%         6.750000%
I-PO           055240EL5       989.346310     0.000000        1.123996        1.123996     988.222314    0.000000%         0.000000%
I-M            055240EN1       990.981747     5.574272        0.857225        6.431497     990.124522    6.750000%         6.750000%
IB-1           055240EP6       990.981749     5.574272        0.857223        6.431495     990.124526    6.750000%         6.750000%
IB-2           055240EQ4       990.981759     5.574272        0.857228        6.431500     990.124530    6.750000%         6.750000%
IB-3           055240EX9       990.981740     5.574272        0.857232        6.431504     990.124508    6.750000%         6.750000%
IB-4           055240EY7       990.981747     5.574273        0.857218        6.431491     990.124528    6.750000%         6.750000%
IB-5           055240EZ4       990.981744     5.574277        0.857233        6.431511     990.124511    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:                                        April 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                    May 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    79,359,543.06   429,864.19    1,944,897.28    2,374,761.47           0.00        0.00     77,414,645.78
II-X*       2,345,961.00     1,744,508.45     9,449.42            0.00        9,449.42           0.00        0.00      1,744,508.45
II-PO         148,157.00       142,518.00         0.00          535.90          535.90           0.00        0.00        141,982.10
IIM           874,264.00       843,051.34     4,566.53        2,972.23        7,538.76           0.00        0.00        840,079.11
IIB-1         462,846.00       446,321.59     2,417.58        1,573.53        3,991.11           0.00        0.00        444,748.06
IIB-2         308,564.00       297,547.73     1,611.72        1,049.02        2,660.74           0.00        0.00        296,498.71
IIB-3         308,564.00       297,547.73     1,611.72        1,049.02        2,660.74           0.00        0.00        296,498.71
IIB-4         154,282.00       148,773.87       805.86          524.51        1,330.37           0.00        0.00        148,249.36
IIB-5         205,711.16       198,366.92     1,074.49          699.35        1,773.84           0.00        0.00        197,667.57
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   247,458,877.31   1,371,756.07  5,494,172.94    6,865,929.01           0.00        0.00    241,964,704.37
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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       790.494707     4.281846       19.372982       23.654828     771.121725    6.500000%         6.500000%
II-X*          055240EK7       743.622102     4.027953        0.000000        4.027953     743.622102    6.500000%         6.500000%
II-PO          055240EM3       961.939024     0.000000        3.617109        3.617109     958.321915    0.000000%         0.000000%
IIM            055240ER2       964.298358     5.223285        3.399694        8.622979     960.898664    6.500000%         6.500000%
IIB-1          055240ES0       964.298255     5.223292        3.399684        8.622976     960.898571    6.500000%         6.500000%
IIB-2          055240ET8       964.298266     5.223292        3.399684        8.622976     960.898582    6.500000%         6.500000%
IIB-3          055240FA8       964.298266     5.223292        3.399684        8.622976     960.898582    6.500000%         6.500000%
IIB-4          055240FB6       964.298298     5.223292        3.399684        8.622976     960.898614    6.500000%         6.500000%
IIB-5          055240FC4       964.298291     5.223295        3.399670        8.622964     960.898621    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:                                        April 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                    May 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          May 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                        GROUP I                                  GROUP II
--------------------------                                        -------                                  --------
<S>                                                        <C>                                        <C>
BEGINNING BALANCE OF POOL                                  155,922,670.15                             81,733,670.51
LESS:  SCHEDULED PRINCIPAL                                    (134,879.68)                              (288,177.66)
       PRINCIPAL PREPAYMENTS                                (3,405,992.42)                            (1,665,123.18)
       REPURCHASES                                                   0.00                                      0.00
       LIQUIDATIONS                                                  0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                   0.00                                      0.00
                                                     ---------------------                     ---------------------
ENDING BALANCE OF POOL                                     152,381,798.05                             79,780,369.67
                                                     =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                     497                                       255
ENDING NUMBER OF LOANS IN POOL                                        487                                       250

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                           335                                       165
WEIGHTED AVERAGE NET CONTRACT RATE                              7.554895%                                 7.093981%

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    525,351.30          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3448%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.4107%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                GROUP I                                  GROUP II
----------------------                                                -------                                  --------
<S>                                                                 <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                60,387.48                                 31,302.68
PLUS:  ADDITIONAL SERVICING COMPENSATION                                 0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                    (11,224.74)                                (6,282.48)
       DELINQUENT SERVICING FEES                                    (2,370.95)                                  (994.74)
                                                         ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                 46,791.79                                 24,025.46
                                                         =====================                     =====================

ADVANCED PRINCIPAL                                                   4,592.07                                  8,279.46
ADVANCED INTEREST                                                   31,873.91                                 13,007.32

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          May 25, 1999

<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                        1,465,260.25              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                        1,875,600.20              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           65,122.67              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                                9.31              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                       1,665,110.93              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              12.25              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                           5,071,115.60              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          May 25, 1999

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

GROUP IA PERCENTAGE                                                94.963463%
GROUP IA PREPAYMENT PERCENTAGE                                    100.000000%
GROUP IIA PERCENTAGE                                               97.264888%
GROUP IIA PREPAYMENT PERCENTAGE                                   100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    6,791.27
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                   7,867.66
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?               NO

GROUP I BANKRUPTCY AMOUNT                                          100,000.00
GROUP II 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 1999 Bankers Trust Company

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    14,849,776.50    83,529.99      649,682.68      733,212.67           0.00        0.00     14,200,093.82
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    74,157.58            0.00       74,157.58           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    48,389,674.22   272,191.92      796,235.33    1,068,427.25           0.00        0.00     47,593,438.89
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    33,202.77            0.00       33,202.77           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*     10,385,155.00     7,528,114.39    42,345.64            0.00       42,345.64           0.00        0.00      7,447,586.33
I-PO-L         43,461.00        42,949.13         0.00           49.13           49.13           0.00        0.00         42,900.00
I-B-L       7,922,383.17     7,844,145.85    44,123.31        6,942.59       51,065.90           0.00        0.00      7,837,203.26
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   159,909,912.09   899,251.65    1,452,909.73    2,352,161.38           0.00        0.00    158,376,474.30
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         458.313860     2.578015       20.051384       22.629400     438.262475    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     4.892708        0.000000        4.892708   1,000.000000    5.871250%         5.871250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         658.362915     3.703291       10.833134       14.536425     647.529781    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     8.449555        0.000000        8.449555   1,000.000000   10.139464%        10.139464%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         724.891866     4.077516        0.000000        4.077516     717.137715    6.750000%         6.750000%
I-PO-L                         988.222314     0.000000        1.130439        1.130439     987.091875    0.000000%         0.000000%
I-B-L                          990.124522     5.569449        0.876326        6.445775     989.248196    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:                                          May 28, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    77,414,645.78   419,329.33    1,527,128.08    1,946,457.41           0.00        0.00     75,887,517.70
II-X-L*     2,345,961.00     1,702,080.80     9,219.60            0.00        9,219.60           0.00        0.00      1,657,274.55
II-PO-L       148,157.00       141,982.10         0.00          556.19          556.19           0.00        0.00        141,425.91
II-B-L      2,314,231.16     2,223,741.52    12,045.26        7,975.38       20,020.64           0.00        0.00      2,215,766.14
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    81,482,450.20   440,594.19    1,535,659.65    1,976,253.84           0.00        0.00     79,901,984.30
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        771.121725     4.176909       15.211613       19.388522     755.910112    6.500000%         6.500000%
II-X-L*                        725.536699     3.929989        0.000000        3.929989     706.437383    6.500000%         6.500000%
II-PO-L                        958.321915     0.000000        3.754058        3.754058     954.567857    0.000000%         0.000000%
II-B-L                         960.898617     5.204865        3.446233        8.651098     957.452383    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:                                          May 28, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    14,217,871.23    83,529.99      622,036.61      705,566.60           0.00        0.00     13,595,834.62
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    74,157.58            0.00       74,157.58           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    48,389,674.22   272,191.92      796,235.33    1,068,427.25           0.00        0.00     47,593,438.89
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       631,905.27         0.00       27,646.07       27,646.07           0.00        0.00        604,259.20
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    33,202.77            0.00       33,202.77           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,528,114.39    42,345.64            0.00       42,345.64           0.00        0.00      7,528,114.39
I-PO           43,461.00        42,949.13         0.00           49.13           49.13           0.00        0.00         42,900.00
I-M         3,664,102.00     3,627,917.24    20,407.03        3,210.95       23,617.98           0.00        0.00      3,624,706.29
IB-1        1,683,506.00     1,666,880.58     9,376.20        1,475.30       10,851.50           0.00        0.00      1,665,405.28
IB-2          891,268.00       882,466.31     4,963.87          781.04        5,744.91           0.00        0.00        881,685.27
IB-3          693,208.00       686,362.23     3,860.79          607.48        4,468.27           0.00        0.00        685,754.75
IB-4          495,148.00       490,258.18     2,757.70          433.91        3,191.61           0.00        0.00        489,824.27
IB-5          495,151.17       490,261.31     2,757.72          433.91        3,191.63           0.00        0.00        489,827.40
------------------------------------------------------------------------------------------------------------------------------------
TOTALS                 **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       458.313860     2.692594       20.051384       22.743978     438.262476    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     4.892708        0.000000        4.892708   1,000.000000    5.871250%         5.871250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       658.362915     3.703291       10.833134       14.536425     647.529781    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       458.313856     0.000000       20.051387       20.051387     438.262469    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     8.449555        0.000000        8.449555   1,000.000000   10.139464%        10.139464%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       724.891866     4.077516        0.000000        4.077516     724.891866    6.750000%         6.750000%
I-PO           055240EL5       988.222314     0.000000        1.130439        1.130439     987.091875    0.000000%         0.000000%
I-M            055240EN1       990.124522     5.569449        0.876327        6.445776     989.248195    6.750000%         6.750000%
IB-1           055240EP6       990.124526     5.569449        0.876326        6.445774     989.248200    6.750000%         6.750000%
IB-2           055240EQ4       990.124530     5.569447        0.876325        6.445772     989.248206    6.750000%         6.750000%
IB-3           055240EX9       990.124508     5.569454        0.876331        6.445785     989.248177    6.750000%         6.750000%
IB-4           055240EY7       990.124528     5.569446        0.876324        6.445770     989.248205    6.750000%         6.750000%
IB-5           055240EZ4       990.124511     5.569451        0.876318        6.445769     989.248193    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 28, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    77,414,645.78     419,329.33  1,527,128.08    1,946,457.41           0.00        0.00     75,887,517.70
II-X*       2,345,961.00     1,702,080.80       9,219.60          0.00        9,219.60           0.00        0.00      1,702,080.80
II-PO         148,157.00       141,982.10           0.00        556.19          556.19           0.00        0.00        141,425.91
IIM           874,264.00       840,079.11       4,550.43      3,012.92        7,563.35           0.00        0.00        837,066.19
IIB-1         462,846.00       444,748.06       2,409.05      1,595.08        4,004.13           0.00        0.00        443,152.98
IIB-2         308,564.00       296,498.71       1,606.03      1,063.38        2,669.41           0.00        0.00        295,435.33
IIB-3         308,564.00       296,498.71       1,606.03      1,063.38        2,669.41           0.00        0.00        295,435.33
IIB-4         154,282.00       148,249.36         803.02        531.69        1,334.71           0.00        0.00        147,717.67
IIB-5         205,711.16       197,667.57       1,070.70        708.93        1,779.63           0.00        0.00        196,958.64
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   241,711,473.40   1,339,845.84  2,988,569.38    4,328,415.22           0.00        0.00    238,722,904.02
          ==============   ==============   ============ =============   =============   ============   =========    ==============
*Represents notional balance
</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       771.121725     4.176909       15.211613       19.388522     755.910112    6.500000%         6.500000%
II-X*          055240EK7       725.536699     3.929989        0.000000        3.929989     725.536699    6.500000%         6.500000%
II-PO          055240EM3       958.321915     0.000000        3.754058        3.754058     954.567857    0.000000%         0.000000%
IIM            055240ER2       960.898664     5.204869        3.446236        8.651105     957.452429    6.500000%         6.500000%
IIB-1          055240ES0       960.898571     5.204863        3.446243        8.651106     957.452328    6.500000%         6.500000%
IIB-2          055240ET8       960.898582     5.204852        3.446222        8.651074     957.452360    6.500000%         6.500000%
IIB-3          055240FA8       960.898582     5.204852        3.446222        8.651074     957.452360    6.500000%         6.500000%
IIB-4          055240FB6       960.898614     5.204885        3.446222        8.651106     957.452392    6.500000%         6.500000%
IIB-5          055240FC4       960.898621     5.204871        3.446240        8.651111     957.452381    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:                                          May 28, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   June 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date: June 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                        GROUP I                                  GROUP II
--------------------------                                        -------                                  --------
<S>                                                        <C>                                        <C>
BEGINNING BALANCE OF POOL                                  152,381,798.05                             79,780,369.67
LESS: SCHEDULED PRINCIPAL                                     (134,869.83)                              (286,147.13)
      PRINCIPAL PREPAYMENTS                                 (1,318,039.90)                            (1,249,512.52)
      REPURCHASES                                                    0.00                                      0.00
      LIQUIDATIONS                                                   0.00                                      0.00
      OTHER UNSCHEDULED PRINCIPAL                                    0.00                                      0.00
                                                     ---------------------                     ---------------------
ENDING BALANCE OF POOL                                     150,928,888.32                             78,244,710.02
                                                     =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                     487                                       250
ENDING NUMBER OF LOANS IN POOL                                        482                                       246

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                           334                                       163
WEIGHTED AVERAGE NET CONTRACT RATE                              7.549676%                                 7.092510%

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    524,632.74          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3476%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             2             0             0
               PERCENTAGE OF LOANS                  0.1199%       0.0000%       0.0000%       0.4149%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                      GROUP I                                  GROUP II
----------------------                                                      -------                                  --------
<S>                                                                       <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                      58,554.14                                 30,476.32
PLUS:  ADDITIONAL SERVICING COMPENSATION                                       0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                           (4,842.75)                                (3,053.09)
       DELINQUENT SERVICING FEES                                               0.00                                      0.00
                                                               ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                       53,711.39                                 27,423.23
                                                               =====================                     =====================

ADVANCED PRINCIPAL                                                             0.00                                      0.00
ADVANCED INTEREST                                                              0.00                                      0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                        STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          June 25, 1999

<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                          567,019.20              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                          725,810.53              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           25,200.85              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                                9.31              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                       1,249,482.87              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              29.65              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                           2,567,552.42              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          June 25, 1999

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

GROUP IA PERCENTAGE                                              94.850857%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.207701%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  6,942.59
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,975.38
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

GROUP I BANKRUPTCY AMOUNT                                        100,000.00
GROUP II 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
                                     REVISED
                        STATEMENTS TO CERTIFICATEHOLDERS

     This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    12,861,153.20    72,343.99      561,732.23      634,076.22           0.00        0.00     12,299,420.97
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    77,378.39            0.00       77,378.39           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    45,952,465.75   258,482.62      688,445.40      946,928.02           0.00        0.00     45,264,020.35
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    29,981.96            0.00       29,981.96           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*     10,385,155.00     7,276,141.57    40,928.30            0.00       40,928.30           0.00        0.00      7,183,965.19
I-PO-L         43,461.00        37,089.29         0.00           35.07           35.07           0.00        0.00         37,054.22
I-B-L       7,922,383.17     7,830,291.14    44,045.39        7,038.98       51,084.37           0.00        0.00      7,823,252.16
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   155,212,392.95   872,861.09    1,257,251.68    2,130,112.77           0.00        0.00    153,862,964.89
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         396.938282     2.232778       17.336939       19.569717     379.601343    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     5.105208        0.000000        5.105208   1,000.000000    6.126250%         6.126250%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         625.203616     3.516770        9.366604       12.883374     615.837012    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     7.629912        0.000000        7.629912   1,000.000000    9.155893%         9.155893%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         700.629078     3.941039        0.000000        3.941039     691.753295    6.750000%         6.750000%
I-PO-L                         853.392467     0.000000        0.806930        0.806930     852.585536    0.000000%         0.000000%
I-B-L                          988.375716     5.559614        0.888493        6.448106     987.487223    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:                                         June 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REVISED
                        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    74,895,783.41   405,685.49      898,026.94    1,303,712.43           0.00        0.00     73,997,756.47
II-X-L*     2,345,961.00     1,645,834.29     8,914.94            0.00        8,914.94           0.00        0.00      1,624,254.38
II-PO-L       148,157.00       140,872.48         0.00          601.83          601.83           0.00        0.00        140,270.65
II-B-L      2,314,231.16     2,207,694.08    11,958.33        8,141.02       20,099.35           0.00        0.00      2,199,553.06
R-II               50.00             0.00         0.01            0.00            0.01           0.00        0.00              0.00
------------------------------------------------------------------------------------------------------------------------------------
TOTALS    105,200,650.16    78,890,184.26   426,558.77      906,769.79    1,333,328.56           0.00        0.00     77,961,834.56
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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                        746.031518     4.041004        8.945182       12.986186     737.086336    6.500000%         6.500000%
II-X-L*                        701.560806     3.800123        0.000000        3.800123     692.362055    6.500000%         6.500000%
II-PO-L                        950.832428     0.000000        4.062110        4.062110     946.770318    0.000000%         0.000000%
II-B-L                         953.964374     5.167301        3.517808        8.685109     950.446566    6.500000%         6.500000%
R-II                             0.000000     0.200000        0.000000        0.200000       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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REVISED
                        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    12,313,870.19    72,343.99      537,828.73      610,172.72           0.00        0.00     11,776,041.46
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    77,378.39            0.00       77,378.39           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    45,952,465.75   258,482.62      688,445.40      946,928.02           0.00        0.00     45,264,020.35
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       547,283.01         0.00       23,903.50       23,903.50           0.00        0.00        523,379.51
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    29,981.96            0.00       29,981.96           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,276,141.57    40,928.30            0.00       40,928.30           0.00        0.00      7,183,965.19
I-PO           43,461.00        37,089.29         0.00           35.07           35.07           0.00        0.00         37,054.22
I-M         3,664,102.00     3,621,509.44    20,370.99        3,255.52       23,626.51           0.00        0.00      3,618,253.92
IB-1        1,683,506.00     1,663,936.45     9,359.64        1,495.78       10,855.42           0.00        0.00      1,662,440.67
IB-2          891,268.00       880,907.66     4,955.11          791.89        5,747.00           0.00        0.00        880,115.77
IB-3          693,208.00       685,149.94     3,853.97          615.91        4,469.88           0.00        0.00        684,534.03
IB-4          495,148.00       489,392.26     2,752.83          439.94        3,192.77           0.00        0.00        488,952.32
IB-5          495,151.17       489,395.39     2,752.85          439.94        3,192.79           0.00        0.00        488,955.45
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       396.938282     2.332012       17.336939       19.668951     379.601343    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     5.105208        0.000000        5.105208   1,000.000000    6.126250%         6.126250%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       625.203616     3.516770        9.366604       12.883374     615.837012    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       396.938273     0.000000       17.336942       17.336942     379.601330    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     7.629912        0.000000        7.629912   1,000.000000    9.155893%         9.155893%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       700.629078     3.941039        0.000000        3.941039     691.753295    6.750000%         6.750000%
I-PO           055240EL5       853.392467     0.000000        0.806930        0.806930     852.585536    0.000000%         0.000000%
I-M            055240EN1       988.375717     5.559613        0.888491        6.448104     987.487226    6.750000%         6.750000%
IB-1           055240EP6       988.375717     5.559612        0.888491        6.448103     987.487226    6.750000%         6.750000%
IB-2           055240EQ4       988.375730     5.559618        0.888498        6.448117     987.487232    6.750000%         6.750000%
IB-3           055240EX9       988.375697     5.559616        0.888492        6.448108     987.487204    6.750000%         6.750000%
IB-4           055240EY7       988.375718     5.559610        0.888502        6.448112     987.487216    6.750000%         6.750000%
IB-5           055240EZ4       988.375712     5.559615        0.888496        6.448112     987.487215    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>
                          BA MORTGAGE SECURITIES, INC.
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 1998-2
                                     REVISED
                         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    74,895,783.41     405,685.49    898,026.94    1,303,712.43           0.00        0.00     73,997,756.47
II-X*       2,345,961.00     1,645,834.29       8,914.94          0.00        8,914.94           0.00        0.00      1,624,254.38
II-PO         148,157.00       140,872.48           0.00        601.83          601.83           0.00        0.00        140,270.65
IIM           874,264.00       834,016.75       4,517.59      3,075.50        7,593.09           0.00        0.00        830,941.25
IIB-1         462,846.00       441,538.57       2,391.67      1,628.20        4,019.87           0.00        0.00        439,910.37
IIB-2         308,564.00       294,359.06       1,594.44      1,085.47        2,679.91           0.00        0.00        293,273.59
IIB-3         308,564.00       294,359.06       1,594.44      1,085.47        2,679.91           0.00        0.00        293,273.59
IIB-4         154,282.00       147,179.53         797.22        542.73        1,339.95           0.00        0.00        146,636.80
IIB-5         205,711.16       196,241.11       1,062.97        723.65        1,786.62           0.00        0.00        195,517.46
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   234,421,688.32   1,299,419.85  2,164,021.47    3,463,441.32           0.00        0.00    232,143,910.56
          ==============   ==============   ============ =============   =============   ============   =========    ==============
*Represents notional balance
</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       746.031518     4.041004        8.945182       12.986186     737.086336    6.500000%         6.500000%
II-X*          055240EK7       701.560806     3.800123        0.000000        3.800123     692.362055    6.500000%         6.500000%
II-PO          055240EM3       950.832428     0.000000        4.062110        4.062110     946.770318    0.000000%         0.000000%
IIM            055240ER2       953.964420     5.167306        3.517816        8.685123     950.446604    6.500000%         6.500000%
IIB-1          055240ES0       953.964321     5.167313        3.517801        8.685113     950.446520    6.500000%         6.500000%
IIB-2          055240ET8       953.964364     5.167291        3.517812        8.685103     950.446552    6.500000%         6.500000%
IIB-3          055240FA8       953.964364     5.167291        3.517812        8.685103     950.446552    6.500000%         6.500000%
IIB-4          055240FB6       953.964364     5.167291        3.517779        8.685070     950.446585    6.500000%         6.500000%
IIB-5          055240FC4       953.964335     5.167294        3.517797        8.685090     950.446539    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                   July 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

Distribution Date:                          July 26, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                       GROUP I                                  GROUP II
--------------------------                                       -------                                  --------
<S>                                                       <C>                                        <C>
BEGINNING BALANCE OF POOL                                 147,936,251.73                             77,244,350.25
LESS: SCHEDULED PRINCIPAL                                    (132,987.81)                              (284,856.87)
      PRINCIPAL PREPAYMENTS                                (1,124,263.87)                              (621,912.92)
      REPURCHASES                                                   0.00                                      0.00
      LIQUIDATIONS                                                  0.00                                      0.00
      OTHER UNSCHEDULED PRINCIPAL                                   0.00                                      0.00
                                                    ---------------------                     ---------------------
ENDING BALANCE OF POOL                                    146,679,000.05                             76,337,580.46
                                                    =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                    472                                       244
ENDING NUMBER OF LOANS IN POOL                                       468                                       242

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                          332                                       161
WEIGHTED AVERAGE NET CONTRACT RATE                             7.543656%                                 7.086742%

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    523,181.22          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3567%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.1199%       0.0000%       0.0000%       0.4274%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                        GROUP I                                  GROUP II
----------------------                                                        -------                                  --------
<S>                                                                         <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                        56,259.84                                 29,166.30
PLUS:  ADDITIONAL SERVICING COMPENSATION                                         0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                             (5,225.11)                                (3,424.90)
       DELINQUENT SERVICING FEES                                                 0.00                                      0.00
                                                                 ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                         51,034.73                                 25,741.40
                                                                 =====================                     =====================

ADVANCED PRINCIPAL                                                               0.00                                      0.00
ADVANCED INTEREST                                                                0.00                                      0.00

------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

Distribution Date:                          July 26, 1999

<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                          483,660.40              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                          619,107.45              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           21,496.02              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                                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                         621,843.63              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              69.29              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                           1,746,176.79              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7

                                                                                            (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

Distribution Date:                          July 26, 1999

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                             94.705656%
GROUP IA PREPAYMENT PERCENTAGE                                 100.000000%
GROUP IIA PERCENTAGE                                            97.136713%
GROUP IIA PREPAYMENT PERCENTAGE                                100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 7,038.98
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                8,141.02
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?             NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?            NO

GROUP I BANKRUPTCY AMOUNT                                       100,000.00
GROUP II 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 1999 Bankers Trust Company

<PAGE>


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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    12,299,420.97    69,184.24      520,737.23      589,921.47           0.00        0.00     11,778,683.74
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    79,509.81            0.00       79,509.81           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    45,264,020.35   254,610.11      638,202.92      892,813.03           0.00        0.00     44,625,817.43
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    27,850.54            0.00       27,850.54           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*     10,385,155.00     7,183,965.19    40,409.80            0.00       40,409.80           0.00        0.00      7,133,026.08
I-PO-L         43,461.00        37,054.22         0.00           63.15           63.15           0.00        0.00         36,991.07
I-B-L       7,922,383.17     7,823,252.16    44,005.79        7,097.01       51,102.80           0.00        0.00      7,816,155.15
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   153,862,964.89   865,270.73    1,166,100.31    2,031,371.04           0.00        0.00    152,645,925.47
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         379.601343     2.135257       16.071696       18.206953     363.529647    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     5.245833        0.000000        5.245833   1,000.000000    6.295000%         6.295000%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         615.837012     3.464083        8.683033       12.147116     607.153979    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     7.087501        0.000000        7.087501   1,000.000000    8.505000%         8.505000%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         691.753295     3.891112        0.000000        3.891112     686.848302    6.750000%         6.750000%
I-PO-L                         852.585536     0.000000        1.453027        1.453027     851.132510    0.000000%         0.000000%
I-B-L                          987.487223     5.554615        0.895818        6.450433     986.591406    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:                                         July 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    73,997,756.47   400,821.18      948,117.00    1,348,938.18           0.00        0.00     73,049,639.47
II-X-L*     2,345,961.00     1,624,254.38     8,798.04            0.00        8,798.04           0.00        0.00      1,600,549.96
II-PO-L       148,157.00       140,270.65         0.00          559.50          559.50           0.00        0.00        139,711.15
II-B-L      2,314,231.16     2,199,553.05    11,914.25        8,198.14       20,112.39           0.00        0.00      2,191,354.91
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    77,961,834.55   421,533.47      956,874.64    1,378,408.11           0.00        0.00     76,981,255.49
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        737.086336     3.992551        9.444125       13.436676     727.642211    6.500000%         6.500000%
II-X-L*                        692.362055     3.750293        0.000000        3.750293     682.257702    6.500000%         6.500000%
II-PO-L                        946.770318     0.000000        3.776399        3.776399     942.993919    0.000000%         0.000000%
II-B-L                         950.446562     5.148254        3.542490        8.690744     946.904072    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 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    11,776,041.46    69,184.24      498,578.20      567,762.44           0.00        0.00     11,277,463.26
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    79,509.81            0.00       79,509.81           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    45,264,020.35   254,610.11      638,202.92      892,813.03           0.00        0.00     44,625,817.43
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       523,379.51         0.00       22,159.03       22,159.03           0.00        0.00        501,220.48
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    27,850.54            0.00       27,850.54           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,183,965.19    40,409.80            0.00       40,409.80           0.00        0.00      7,133,026.08
I-PO           43,461.00        37,054.22         0.00           63.15           63.15           0.00        0.00         36,991.07
I-M         3,664,102.00     3,618,253.92    20,352.68        3,282.37       23,635.05           0.00        0.00      3,614,971.55
IB-1        1,683,506.00     1,662,440.67     9,351.23        1,508.11       10,859.34           0.00        0.00      1,660,932.56
IB-2          891,268.00       880,115.77     4,950.65          798.41        5,749.06           0.00        0.00        879,317.36
IB-3          693,208.00       684,534.03     3,850.50          620.99        4,471.49           0.00        0.00        683,913.04
IB-4          495,148.00       488,952.32     2,750.36          443.56        3,193.92           0.00        0.00        488,508.76
IB-5          495,151.17       488,955.45     2,750.37          443.57        3,193.94           0.00        0.00        488,511.88
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       379.601343     2.230158       16.071696       18.301853     363.529648    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     5.245833        0.000000        5.245833   1,000.000000    6.295000%         6.295000%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       615.837012     3.464083        8.683033       12.147116     607.153979    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       379.601330     0.000000       16.071698       16.071698     363.529633    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     7.087501        0.000000        7.087501   1,000.000000    8.505000%         8.505000%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       691.753295     3.891112        0.000000        3.891112     686.848302    6.750000%         6.750000%
I-PO           055240EL5       852.585536     0.000000        1.453027        1.453027     851.132510    0.000000%         0.000000%
I-M            055240EN1       987.487226     5.554616        0.895818        6.450435     986.591408    6.750000%         6.750000%
IB-1           055240EP6       987.487226     5.554616        0.895815        6.450431     986.591411    6.750000%         6.750000%
IB-2           055240EQ4       987.487232     5.554614        0.895814        6.450428     986.591418    6.750000%         6.750000%
IB-3           055240EX9       987.487204     5.554610        0.895821        6.450430     986.591384    6.750000%         6.750000%
IB-4           055240EY7       987.487216     5.554622        0.895813        6.450435     986.591403    6.750000%         6.750000%
IB-5           055240EZ4       987.487215     5.554607        0.895827        6.450434     986.591388    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 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    73,997,756.47     400,821.18    948,117.00    1,348,938.18           0.00        0.00     73,049,639.47
II-X*       2,345,961.00     1,624,254.38       8,798.04          0.00        8,798.04           0.00        0.00      1,600,549.96
II-PO         148,157.00       140,270.65           0.00        559.50          559.50           0.00        0.00        139,711.15
IIM           874,264.00       830,941.25       4,500.93      3,097.08        7,598.01           0.00        0.00        827,844.17
IIB-1         462,846.00       439,910.37       2,382.85      1,639.63        4,022.48           0.00        0.00        438,270.74
IIB-2         308,564.00       293,273.59       1,588.57      1,093.08        2,681.65           0.00        0.00        292,180.51
IIB-3         308,564.00       293,273.59       1,588.57      1,093.08        2,681.65           0.00        0.00        292,180.51
IIB-4         154,282.00       146,636.80         794.28        546.54        1,340.82           0.00        0.00        146,090.26
IIB-5         205,711.16       195,517.45       1,059.05        728.73        1,787.78           0.00        0.00        194,788.72
R-III              50.00             0.00           0.00          0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ------------ -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   232,143,910.55   1,286,804.20  2,122,974.95    3,409,779.15           0.00        0.00    229,946,292.07
          ==============   ==============   ============ =============   =============   ============   =========    ==============
*Represents notional balance
</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       737.086336     3.992551        9.444125       13.436676     727.642211    6.500000%         6.500000%
II-X*          055240EK7       692.362055     3.750293        0.000000        3.750293     682.257702    6.500000%         6.500000%
II-PO          055240EM3       946.770318     0.000000        3.776399        3.776399     942.993919    0.000000%         0.000000%
IIM            055240ER2       950.446604     5.148250        3.542500        8.690750     946.904104    6.500000%         6.500000%
IIB-1          055240ES0       950.446520     5.148257        3.542496        8.690752     946.904024    6.500000%         6.500000%
IIB-2          055240ET8       950.446552     5.148267        3.542474        8.690742     946.904078    6.500000%         6.500000%
IIB-3          055240FA8       950.446552     5.148267        3.542474        8.690742     946.904078    6.500000%         6.500000%
IIB-4          055240FB6       950.446585     5.148235        3.542474        8.690709     946.904111    6.500000%         6.500000%
IIB-5          055240FC4       950.446490     5.148238        3.542491        8.690729     946.903999    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 30, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                 August 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

Distribution Date:                          August 25, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                              GROUP I                                  GROUP II
--------------------------                                              -------                                  --------
<S>                                                              <C>                                        <C>
BEGINNING BALANCE OF POOL                                        146,679,000.05                             76,337,580.46
LESS:   SCHEDULED PRINCIPAL                                         (133,064.25)                              (284,537.37)
        PRINCIPAL PREPAYMENTS                                     (1,033,036.06)                              (672,337.27)
        REPURCHASES                                                        0.00                                      0.00
        LIQUIDATIONS                                                       0.00                                      0.00
        OTHER UNSCHEDULED PRINCIPAL                                        0.00                                      0.00
                                                           ---------------------                     ---------------------
ENDING BALANCE OF POOL                                           145,512,899.74                             75,380,705.82
                                                           =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                           468                                       242
ENDING NUMBER OF LOANS IN POOL                                              465                                       240

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                                 331                                       160
WEIGHTED AVERAGE NET CONTRACT RATE                                    7.540470%                                 7.086623%

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    522,448.20          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             2             0             0
               PERCENTAGE OF LOANS                  0.1199%       0.0000%       0.0000%       0.4301%       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                                                              0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                             0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                               GROUP I                                  GROUP II
----------------------                                               -------                                  --------
<S>                                                                <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD               55,564.46                                 28,834.28
PLUS:  ADDITIONAL SERVICING COMPENSATION                                0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                    (4,025.93)                                (2,231.09)
       DELINQUENT SERVICING FEES                                        0.00                                      0.00
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                51,538.53                                 26,603.19
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                      0.00                                      0.00
ADVANCED INTEREST                                                       0.00                                      0.00

------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 5 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

Distribution Date:                          August 25, 1999
<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                          444,402.03              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                          568,854.95              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           19,751.20              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                               27.88              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                         672,313.57              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              23.70              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                           1,705,373.33              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

-Distribution Date:                          August 25, 1999

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

GROUP IA PERCENTAGE                                                 94.665065%
GROUP IA PREPAYMENT PERCENTAGE                                     100.000000%
GROUP IIA PERCENTAGE                                                97.113346%
GROUP IIA PREPAYMENT PERCENTAGE                                    100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                     7,097.01
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    8,198.14
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                 NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?                NO

GROUP I BANKRUPTCY AMOUNT                                           100,000.00
GROUP II 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 1999 Bankers Trust Company

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    12,299,420.97    69,184.24      520,737.23      589,921.47           0.00        0.00     11,778,683.74
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    79,509.81            0.00       79,509.81           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    45,264,020.35   254,610.11      638,202.92      892,813.03           0.00        0.00     44,625,817.43
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    27,850.54            0.00       27,850.54           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*     10,385,155.00     7,183,965.19    40,409.80            0.00       40,409.80           0.00        0.00      7,133,026.08
I-PO-L         43,461.00        37,054.22         0.00           63.15           63.15           0.00        0.00         36,991.07
I-B-L       7,922,383.17     7,823,252.16    44,005.79        7,097.01       51,102.80           0.00        0.00      7,816,155.15
R-I                50.00             0.00         0.02            0.00            0.02           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   153,862,964.89   865,270.75    1,166,100.31    2,031,371.06           0.00        0.00    152,645,925.47
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         379.601343     2.135257       16.071696       18.206953     363.529647    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     5.245833        0.000000        5.245833   1,000.000000    6.295000%         6.330000%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         615.837012     3.464083        8.683033       12.147116     607.153979    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     7.087501        0.000000        7.087501   1,000.000000    8.505000%         8.370000%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         691.753295     3.891112        0.000000        3.891112     686.848302    6.750000%         6.750000%
I-PO-L                         852.585536     0.000000        1.453027        1.453027     851.132510    0.000000%         0.000000%
I-B-L                          987.487223     5.554615        0.895818        6.450433     986.591406    6.750000%         6.750000%
R-I                              0.000000     0.400000        0.000000        0.400000       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:                                       August 31, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    73,997,756.47   400,821.18      948,117.00    1,348,938.18           0.00        0.00     73,049,639.47
II-X-L*     2,345,961.00     1,624,254.38     8,798.04            0.00        8,798.04           0.00        0.00      1,600,549.96
II-PO-L       148,157.00       140,270.65         0.00          559.50          559.50           0.00        0.00        139,711.15
II-B-L      2,314,231.16     2,199,553.05    11,914.25        8,198.14       20,112.39           0.00        0.00      2,191,354.91
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    77,961,834.55   421,533.47      956,874.64    1,378,408.11           0.00        0.00     76,981,255.49
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        737.086336     3.992551        9.444125       13.436676     727.642211    6.500000%         6.500000%
II-X-L*                        692.362055     3.750293        0.000000        3.750293     682.257702    6.500000%         6.500000%
II-PO-L                        946.770318     0.000000        3.776399        3.776399     942.993919    0.000000%         0.000000%
II-B-L                         950.446562     5.148254        3.542490        8.690744     946.904072    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    11,776,041.46    69,184.24      498,578.20      567,762.44           0.00        0.00     11,277,463.26
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    79,509.81            0.00       79,509.81           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    45,264,020.35   254,610.11      638,202.92      892,813.03           0.00        0.00     44,625,817.43
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       523,379.51         0.00       22,159.03       22,159.03           0.00        0.00        501,220.48
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    27,850.54            0.00       27,850.54           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,183,965.19    40,409.80            0.00       40,409.80           0.00        0.00      7,133,026.08
I-PO           43,461.00        37,054.22         0.00           63.15           63.15           0.00        0.00         36,991.07
I-M         3,664,102.00     3,618,253.92    20,352.68        3,282.37       23,635.05           0.00        0.00      3,614,971.55
IB-1        1,683,506.00     1,662,440.67     9,351.23        1,508.11       10,859.34           0.00        0.00      1,660,932.56
IB-2          891,268.00       880,115.77     4,950.65          798.41        5,749.06           0.00        0.00        879,317.36
IB-3          693,208.00       684,534.03     3,850.50          620.99        4,471.49           0.00        0.00        683,913.04
IB-4          495,148.00       488,952.32     2,750.36          443.56        3,193.92           0.00        0.00        488,508.76
IB-5          495,151.17       488,955.45     2,750.37          443.57        3,193.94           0.00        0.00        488,511.88
------------------------------------------------------------------------------------------------------------------------------------
TOTALS                 **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       379.601343     2.230158       16.071696       18.301853     363.529648    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     5.245833        0.000000        5.245833   1,000.000000    6.295000%         6.330000%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       615.837012     3.464083        8.683033       12.147116     607.153979    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       379.601330     0.000000       16.071698       16.071698     363.529633    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     7.087501        0.000000        7.087501   1,000.000000    8.505000%         8.370000%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       691.753295     3.891112        0.000000        3.891112     686.848302    6.750000%         6.750000%
I-PO           055240EL5       852.585536     0.000000        1.453027        1.453027     851.132510    0.000000%         0.000000%
I-M            055240EN1       987.487226     5.554616        0.895818        6.450435     986.591408    6.750000%         6.750000%
IB-1           055240EP6       987.487226     5.554616        0.895815        6.450431     986.591411    6.750000%         6.750000%
IB-2           055240EQ4       987.487232     5.554614        0.895814        6.450428     986.591418    6.750000%         6.750000%
IB-3           055240EX9       987.487204     5.554610        0.895821        6.450430     986.591384    6.750000%         6.750000%
IB-4           055240EY7       987.487216     5.554622        0.895813        6.450435     986.591403    6.750000%         6.750000%
IB-5           055240EZ4       987.487215     5.554607        0.895827        6.450434     986.591388    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    73,997,756.47   400,821.18      948,117.00    1,348,938.18           0.00        0.00     73,049,639.47
II-X*       2,345,961.00     1,624,254.38     8,798.04            0.00        8,798.04           0.00        0.00      1,600,549.96
II-PO         148,157.00       140,270.65         0.00          559.50          559.50           0.00        0.00        139,711.15
IIM           874,264.00       830,941.25     4,500.93        3,097.08        7,598.01           0.00        0.00        827,844.17
IIB-1         462,846.00       439,910.37     2,382.85        1,639.63        4,022.48           0.00        0.00        438,270.74
IIB-2         308,564.00       293,273.59     1,588.57        1,093.08        2,681.65           0.00        0.00        292,180.51
IIB-3         308,564.00       293,273.59     1,588.57        1,093.08        2,681.65           0.00        0.00        292,180.51
IIB-4         154,282.00       146,636.80       794.28          546.54        1,340.82           0.00        0.00        146,090.26
IIB-5         205,711.16       195,517.45     1,059.05          728.73        1,787.78           0.00        0.00        194,788.72
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   232,143,910.55   1,286,804.20  2,122,974.95    3,409,779.15           0.00        0.00    229,946,292.07
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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       737.086336     3.992551        9.444125       13.436676     727.642211    6.500000%         6.500000%
II-X*          055240EK7       692.362055     3.750293        0.000000        3.750293     682.257702    6.500000%         6.500000%
II-PO          055240EM3       946.770318     0.000000        3.776399        3.776399     942.993919    0.000000%         0.000000%
IIM            055240ER2       950.446604     5.148250        3.542500        8.690750     946.904104    6.500000%         6.500000%
IIB-1          055240ES0       950.446520     5.148257        3.542496        8.690752     946.904024    6.500000%         6.500000%
IIB-2          055240ET8       950.446552     5.148267        3.542474        8.690742     946.904078    6.500000%         6.500000%
IIB-3          055240FA8       950.446552     5.148267        3.542474        8.690742     946.904078    6.500000%         6.500000%
IIB-4          055240FB6       950.446585     5.148235        3.542474        8.690709     946.904111    6.500000%         6.500000%
IIB-5          055240FC4       950.446490     5.148238        3.542491        8.690729     946.903999    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                              September 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          September 27, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                          GROUP I                                  GROUP II
--------------------------                                          -------                                  --------
<S>                                                          <C>                                        <C>
BEGINNING BALANCE OF POOL                                    146,679,000.05                             76,337,580.46
LESS:  SCHEDULED PRINCIPAL                                      (133,064.25)                              (284,537.37)
       PRINCIPAL PREPAYMENTS                                  (1,033,036.06)                              (672,337.27)
       REPURCHASES                                                     0.00                                      0.00
       LIQUIDATIONS                                                    0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                     0.00                                      0.00
                                                       ---------------------                     ---------------------
ENDING BALANCE OF POOL                                       145,512,899.74                             75,380,705.82
                                                       =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                       468                                       242
ENDING NUMBER OF LOANS IN POOL                                          465                                       240

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                             331                                       160
WEIGHTED AVERAGE NET CONTRACT RATE                                7.540470%                                 7.086623%

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    522,488.20          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3590%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             2             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.4301%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                               GROUP I                                  GROUP II
----------------------                                               -------                                  --------
<S>                                                       <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD               55,564.46                                 28,834.28
PLUS:  ADDITIONAL SERVICING COMPENSATION                                0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                    (4,025.93)                                (2,231.09)
       DELINQUENT SERVICING FEES                                        0.00                                      0.00
                                                         --------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                51,538.53                                 26,603.19
                                                         ====================                     =====================

ADVANCED PRINCIPAL                                                      0.00                                      0.00
ADVANCED INTEREST                                                       0.00                                      0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                            (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:   September 27, 1999

<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                          444,402.03              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                          568,854.95              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           19,751.20              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                               27.88              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                         672,313.57              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              23.70              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                           1,705,373.33              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 6 of 7                            (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          September 27, 1999

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                                 94.665065%
GROUP IA PREPAYMENT PERCENTAGE                                     100.000000%
GROUP IIA PERCENTAGE                                                97.113346%
GROUP IIA PREPAYMENT PERCENTAGE                                    100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                     7,097.01
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    8,198.14
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                 NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?                NO

GROUP I BANKRUPTCY AMOUNT                                           100,000.00
GROUP II 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 1999 Deutsche Bank

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    11,778,683.74    66,255.10      476,643.39      542,898.49           0.00        0.00     11,302,040.35
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    79,951.88            0.00       79,951.88           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    44,625,817.43   251,020.22      584,162.59      835,182.81           0.00        0.00     44,041,654.84
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    27,408.46            0.00       27,408.46           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*     10,385,155.00     7,133,026.08    40,123.27            0.00       40,123.27           0.00        0.00      7,050,958.74
I-PO-L         43,461.00        36,991.07         0.00           44.90           44.90           0.00        0.00         36,946.17
I-B-L       7,922,383.17     7,816,155.13    43,965.87        7,151.60       51,117.47           0.00        0.00      7,809,003.53
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   152,645,925.45   858,425.24    1,068,002.48    1,926,427.72           0.00        0.00    151,495,855.63
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
* Represents notional balance
</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                         363.529647     2.044854       14.710812       16.755666     348.818835    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     5.275000        0.000000        5.275000   1,000.000000    6.330000%         6.360000%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         607.153979     3.415241        7.947790       11.363031     599.206188    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     6.974999        0.000000        6.974999   1,000.000000    8.370000%         8.254286%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         686.848302     3.863522        0.000000        3.863522     678.945932    6.750000%         6.750000%
I-PO-L                         851.132510     0.000000        1.033110        1.033110     850.099399    0.000000%         0.000000%
I-B-L                          986.591403     5.549576        0.902708        6.452284     985.688695    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    73,049,639.47   395,685.55      547,997.35      943,682.90           0.00        0.00     72,501,642.12
II-X-L*     2,345,961.00     1,600,549.96     8,669.65            0.00        8,669.65           0.00        0.00      1,592,619.07
II-PO-L       148,157.00       139,711.15         0.00          574.15          574.15           0.00        0.00        139,137.00
II-B-L      2,314,231.16     2,191,354.91    11,869.84        8,300.78       20,170.62           0.00        0.00      2,183,054.13
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    76,981,255.49   416,225.04      556,872.28      973,097.32           0.00        0.00     76,416,452.32
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        727.642211     3.941395        5.458562        9.399958     722.183649    6.500000%         6.500000%
II-X-L*                        682.257702     3.695564        0.000000        3.695564     678.877044    6.500000%         6.500000%
II-PO-L                        942.993919     0.000000        3.875281        3.875281     939.118638    0.000000%         0.000000%
II-B-L                         946.904072     5.129064        3.586841        8.715905     943.317231    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    11,277,463.26    66,255.10      456,360.70      522,615.80           0.00        0.00     10,821,102.56
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    79,951.88            0.00       79,951.88           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    44,625,817.43   251,020.22      584,162.59      835,182.81           0.00        0.00     44,041,654.84
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       501,220.48         0.00       20,282.69       20,282.69           0.00        0.00        480,937.79
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    27,408.46            0.00       27,408.46           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,133,026.08    40,123.27            0.00       40,123.27           0.00        0.00      7,050,958.74
I-PO           43,461.00        36,991.07         0.00           44.90           44.90           0.00        0.00         36,946.17
I-M         3,664,102.00     3,614,971.55    20,334.21        3,307.62       23,641.83           0.00        0.00      3,611,663.93
IB-1        1,683,506.00     1,660,932.56     9,342.75        1,519.71       10,862.46           0.00        0.00      1,659,412.85
IB-2          891,268.00       879,317.36     4,946.16          804.55        5,750.71           0.00        0.00        878,512.81
IB-3          693,208.00       683,913.04     3,847.01          625.76        4,472.77           0.00        0.00        683,287.28
IB-4          495,148.00       488,508.76     2,747.86          446.97        3,194.83           0.00        0.00        488,061.79
IB-5          495,151.17       488,511.86     2,747.88          446.99        3,194.87           0.00        0.00        488,064.87
------------------------------------------------------------------------------------------------------------------------------------
TOTALS                 **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       363.529648     2.135737       14.710812       16.846549     348.818835    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     5.275000        0.000000        5.275000   1,000.000000    6.330000%         6.360000%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       607.153979     3.415241        7.947790       11.363031     599.206188    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       363.529633     0.000000       14.710809       14.710809     348.818824    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     6.974999        0.000000        6.974999   1,000.000000    8.370000%         8.254286%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       686.848302     3.863522        0.000000        3.863522     678.945932    6.750000%         6.750000%
I-PO           055240EL5       851.132510     0.000000        1.033110        1.033110     850.099399    0.000000%         0.000000%
I-M            055240EN1       986.591408     5.549575        0.902710        6.452285     985.688698    6.750000%         6.750000%
IB-1           055240EP6       986.591411     5.549579        0.902705        6.452285     985.688706    6.750000%         6.750000%
IB-2           055240EQ4       986.591418     5.549577        0.902703        6.452279     985.688715    6.750000%         6.750000%
IB-3           055240EX9       986.591384     5.549575        0.902702        6.452277     985.688682    6.750000%         6.750000%
IB-4           055240EY7       986.591403     5.549573        0.902700        6.452273     985.688703    6.750000%         6.750000%
IB-5           055240EZ4       986.591347     5.549578        0.902734        6.452312     985.688613    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    73,049,639.47   395,685.55      547,997.35      943,682.90           0.00        0.00     72,501,642.12
II-X*       2,345,961.00     1,600,549.96     8,669.65            0.00        8,669.65           0.00        0.00      1,592,619.07
II-PO         148,157.00       139,711.15         0.00          574.15          574.15           0.00        0.00        139,137.00
IIM           874,264.00       827,844.17     4,484.16        3,135.85        7,620.01           0.00        0.00        824,708.32
IIB-1         462,846.00       438,270.74     2,373.97        1,660.16        4,034.13           0.00        0.00        436,610.58
IIB-2         308,564.00       292,180.51     1,582.64        1,106.77        2,689.41           0.00        0.00        291,073.74
IIB-3         308,564.00       292,180.51     1,582.64        1,106.77        2,689.41           0.00        0.00        291,073.74
IIB-4         154,282.00       146,090.26       791.32          553.39        1,344.71           0.00        0.00        145,536.87
IIB-5         205,711.16       194,788.72     1,055.11          737.84        1,792.95           0.00        0.00        194,050.88
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   229,946,292.05   1,274,650.28  1,624,874.76    2,899,525.04           0.00        0.00    228,231,419.06
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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       727.642211     3.941395        5.458562        9.399958     722.183649    6.500000%         6.500000%
II-X*          055240EK7       682.257702     3.695564        0.000000        3.695564     678.877044    6.500000%         6.500000%
II-PO          055240EM3       942.993919     0.000000        3.875281        3.875281     939.118638    0.000000%         0.000000%
IIM            055240ER2       946.904104     5.129069        3.586846        8.715914     943.317259    6.500000%         6.500000%
IIB-1          055240ES0       946.904024     5.129071        3.586852        8.715923     943.317172    6.500000%         6.500000%
IIB-2          055240ET8       946.904078     5.129049        3.586841        8.715890     943.317237    6.500000%         6.500000%
IIB-3          055240FA8       946.904078     5.129049        3.586841        8.715890     943.317237    6.500000%         6.500000%
IIB-4          055240FB6       946.904111     5.129049        3.586873        8.715923     943.317237    6.500000%         6.500000%
IIB-5          055240FC4       946.903999     5.129085        3.586777        8.715862     943.317222    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                                October 25, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 25, 1999

<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                  GROUP I                                  GROUP II
----------------------                                                  -------                                  --------
<S>                                                              <C>                                       <C>
BEGINNING BALANCE OF POOL                                        145,512,899.74                             75,380,705.82
LESS:  SCHEDULED PRINCIPAL                                          (133,142.55)                              (285,549.55)
       PRINCIPAL PREPAYMENTS                                        (934,859.92)                              (271,322.74)
       REPURCHASES                                                         0.00                                      0.00
       LIQUIDATIONS                                                        0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                                         0.00                                      0.00
                                                           ---------------------                     ---------------------
ENDING BALANCE OF POOL                                           144,444,897.27                             74,823,833.53
                                                           =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                           465                                       240
ENDING NUMBER OF LOANS IN POOL                                              462                                       239

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                                 330                                       159
WEIGHTED AVERAGE NET CONTRACT RATE                                    7.539969%                                 7.084178%

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    521,710.29          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             2             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.4329%       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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                         GROUP I                                  GROUP II
----------------------                                                         -------                                  --------
<S>                                                               <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                         55,028.66                                 28,343.86
PLUS:                ADDITIONAL SERVICING COMPENSATION                            0.00                                      0.00
LESS:                AMTS. TO COVER PREPAYMENT INT. SHORTFALL                (2,604.77)                                (1,074.47)
                     DELINQUENT SERVICING FEES                               (2,518.27)                                (1,523.90)
                                                                  ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                          49,905.62                                 25,745.49
                                                                  =====================                     =====================

ADVANCED PRINCIPAL                                                            5,572.76                                 12,695.15
ADVANCED INTEREST                                                            35,898.06                                 17,941.03

------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 5 of 7                           (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>


<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 25, 1999

<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                        402,174.49                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                        514,801.76                0.00                0.00                 0.00                0.00
CLASS IA-6                              0.00                0.00                0.00                 0.00                0.00
CLASS IA-7                         17,874.41                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                              9.26                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                       271,287.41                0.00                0.00                 0.00                0.00
CLASS II-X                              0.00                0.00                0.00                 0.00                0.00
CLASS II-PO                            35.33                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                         1,206,182.66                0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------


                                                             Page 6 of 7

                                                                                                    (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          October 25, 1999

OTHER REPORTING ITEMS:

GROUP IA PERCENTAGE                                                   94.627182%
GROUP IA PREPAYMENT PERCENTAGE                                       100.000000%
GROUP IIA PERCENTAGE                                                  97.087552%
GROUP IIA PREPAYMENT PERCENTAGE                                      100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                       7,151.59
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                      8,300.79
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                   NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?                  NO

GROUP I BANKRUPTCY AMOUNT                                             100,000.00
GROUP II 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 1999 Deutsche Bank


<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    11,302,040.35    63,573.98      357,583.63      421,157.61           0.00        0.00     10,944,456.72
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    80,330.80            0.00       80,330.80           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    44,041,654.84   247,734.31      438,245.82      685,980.13           0.00        0.00     43,603,409.02
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    27,029.55            0.00       27,029.55           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*     10,385,155.00     7,050,958.74    39,661.64            0.00       39,661.64           0.00        0.00      7,011,568.89
I-PO-L         43,461.00        36,946.17         0.00           45.15           45.15           0.00        0.00         36,901.02
I-B-L       7,922,383.17     7,809,003.53    43,925.64        7,222.06       51,147.70           0.00        0.00      7,801,781.47
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    208,444,673.17   151,495,855.63   851,956.36      803,096.66    1,655,053.02           0.00        0.00    150,653,369.12
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
* Represents notional balance
</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                         348.818835     1.962106       11.036229       12.998335     337.782606    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     5.300000        0.000000        5.300000   1,000.000000    6.360000%         6.557500%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         599.206188     3.370535        5.962528        9.333063     593.243660    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     6.878572        0.000000        6.878572   1,000.000000    8.254286%         7.492500%
IA-10-L                      1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         678.945932     3.819071        0.000000        3.819071     675.153032    6.750000%         6.750000%
I-PO-L                         850.099399     0.000000        1.038862        1.038862     849.060537    0.000000%         0.000000%
I-B-L                          985.688695     5.544498        0.911602        6.456100     984.777093    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 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 1 of 7                    (C) COPYRIGHT 1999 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    72,501,642.12   392,717.23    1,481,586.70    1,874,303.93           0.00        0.00     71,020,055.42
II-X-L*     2,345,961.00     1,592,619.07     8,626.69            0.00        8,626.69           0.00        0.00      1,562,688.33
II-PO-L       148,157.00       139,137.00         0.00          579.73          579.73           0.00        0.00        138,557.27
II-B-L      2,314,231.16     2,183,054.13    11,824.87        8,260.52       20,085.39           0.00        0.00      2,174,793.61
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    105,200,650.16    76,416,452.32   413,168.79    1,490,426.95    1,903,595.74           0.00        0.00     74,896,094.63
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
*Represents notional balance
</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                        722.183649     3.911828       14.757979       18.669807     707.425670    6.500000%         6.500000%
II-X-L*                        678.877044     3.677252        0.000000        3.677252     666.118631    6.500000%         6.500000%
II-PO-L                        939.118638     0.000000        3.912944        3.912944     935.205694    0.000000%         0.000000%
II-B-L                         943.317231     5.109632        3.569445        8.679077     939.747786    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 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 2 of 7                    (C) COPYRIGHT 1999 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    10,821,102.56    63,573.98      342,367.31      405,941.29           0.00        0.00     10,478,735.25
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    80,330.80            0.00       80,330.80           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    44,041,654.84   247,734.31      438,245.82      685,980.13           0.00        0.00     43,603,409.02
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       480,937.79         0.00       15,216.32       15,216.32           0.00        0.00        465,721.47
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    27,029.55            0.00       27,029.55           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,050,958.74    39,661.64            0.00       39,661.64           0.00        0.00      7,011,568.89
I-PO           43,461.00        36,946.17         0.00           45.15           45.15           0.00        0.00         36,901.02
I-M         3,664,102.00     3,611,663.93    20,315.61        3,340.20       23,655.81           0.00        0.00      3,608,323.73
IB-1        1,683,506.00     1,659,412.85     9,334.20        1,534.69       10,868.89           0.00        0.00      1,657,878.16
IB-2          891,268.00       878,512.81     4,941.63          812.48        5,754.11           0.00        0.00        877,700.33
IB-3          693,208.00       683,287.28     3,843.49          631.93        4,475.42           0.00        0.00        682,655.35
IB-4          495,148.00       488,061.79     2,745.35          451.38        3,196.73           0.00        0.00        487,610.41
IB-5          495,151.17       488,064.87     2,745.36          451.38        3,196.74           0.00        0.00        487,613.49
TOTALS     **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       348.818835     2.049311       11.036229       13.085540     337.782606    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     5.300000        0.000000        5.300000   1,000.000000    6.360000%         6.557500%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       599.206188     3.370535        5.962528        9.333063     593.243660    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       348.818824     0.000000       11.036227       11.036227     337.782596    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     6.878572        0.000000        6.878572   1,000.000000    8.254286%         7.492500%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       678.945932     3.819071        0.000000        3.819071     675.153032    6.750000%         6.750000%
I-PO           055240EL5       850.099399     0.000000        1.038862        1.038862     849.060537    0.000000%         0.000000%
I-M            055240EN1       985.688698     5.544499        0.911601        6.456100     984.777097    6.750000%         6.750000%
IB-1           055240EP6       985.688706     5.544501        0.911604        6.456104     984.777102    6.750000%         6.750000%
IB-2           055240EQ4       985.688715     5.544494        0.911600        6.456094     984.777115    6.750000%         6.750000%
IB-3           055240EX9       985.688682     5.544497        0.911602        6.456100     984.777080    6.750000%         6.750000%
IB-4           055240EY7       985.688703     5.544504        0.911606        6.456110     984.777097    6.750000%         6.750000%
IB-5           055240EZ4       985.688613     5.544489        0.911600        6.456089     984.777013    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 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 3 of 7                    (C) COPYRIGHT 1999 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    72,501,642.12   392,717.23    1,481,586.70    1,874,303.93           0.00        0.00     71,020,055.42
II-X*       2,345,961.00     1,592,619.07     8,626.69            0.00        8,626.69           0.00        0.00      1,562,688.33
II-PO         148,157.00       139,137.00         0.00          579.73          579.73           0.00        0.00        138,557.27
IIM           874,264.00       824,708.32     4,467.17        3,120.65        7,587.82           0.00        0.00        821,587.67
IIB-1         462,846.00       436,610.58     2,364.97        1,652.10        4,017.07           0.00        0.00        434,958.48
IIB-2         308,564.00       291,073.74     1,576.65        1,101.40        2,678.05           0.00        0.00        289,972.34
IIB-3         308,564.00       291,073.74     1,576.65        1,101.40        2,678.05           0.00        0.00        289,972.34
IIB-4         154,282.00       145,536.87       788.32          550.70        1,339.02           0.00        0.00        144,986.17
IIB-5         205,711.16       194,050.88     1,051.11          734.27        1,785.38           0.00        0.00        193,316.61
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
          --------------   --------------   ----------   -------------   -------------   ------------   ---------    --------------
TOTALS    313,964,384.44   228,231,419.06   1,265,125.15  2,293,523.61    3,558,648.76           0.00        0.00    225,868,574.86
          ==============   ==============   ==========   =============   =============   ============   =========    ==============
                                                                                                                     --------------
*Represents notional balance
</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       722.183649     3.911828       14.757979       18.669807     707.425670    6.500000%         6.500000%
II-X*          055240EK7       678.877044     3.677252        0.000000        3.677252     666.118631    6.500000%         6.500000%
II-PO          055240EM3       939.118638     0.000000        3.912944        3.912944     935.205694    0.000000%         0.000000%
IIM            055240ER2       943.317259     5.109635        3.569460        8.679095     939.747799    6.500000%         6.500000%
IIB-1          055240ES0       943.317172     5.109626        3.569438        8.679064     939.747735    6.500000%         6.500000%
IIB-2          055240ET8       943.317237     5.109637        3.569438        8.679075     939.747799    6.500000%         6.500000%
IIB-3          055240FA8       943.317237     5.109637        3.569438        8.679075     939.747799    6.500000%         6.500000%
IIB-4          055240FB6       943.317237     5.109604        3.569438        8.679042     939.747799    6.500000%         6.500000%
IIB-5          055240FC4       943.317222     5.109640        3.569422        8.679062     939.747800    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 29, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               November 26, 1999                 FACTOR INFORMATION:            (800) 735-7777
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 4 of 7                    (C) COPYRIGHT 1999 Bankers Trust Company
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 26, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                   GROUP I                                  GROUP II
--------------------------                                   -------                                  --------
<S>                                                   <C>                                        <C>
BEGINNING BALANCE OF POOL                             144,444,897.27                             74,823,833.53
LESS:  SCHEDULED PRINCIPAL                               (133,589.76)                              (283,143.42)
       PRINCIPAL PREPAYMENTS                             (669,506.90)                            (1,207,283.53)
       REPURCHASES                                              0.00                                      0.00
       LIQUIDATIONS                                             0.00                                      0.00
       OTHER UNSCHEDULED PRINCIPAL                              0.00                                      0.00
                                                ---------------------                     ---------------------
ENDING BALANCE OF POOL                                143,641,800.61                             73,333,406.58
                                                =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                462                                       239
ENDING NUMBER OF LOANS IN POOL                                   460                                       236

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                      329                                       158
WEIGHTED AVERAGE NET CONTRACT RATE                         7.537057%                                 7.084090%

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    520,541.18          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3624%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             2             0             0
               PERCENTAGE OF LOANS                  0.0000%       0.0000%       0.0000%       0.4348%       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               54,442.61                                 28,110.36
PLUS: ADDITIONAL SERVICING COMPENSATION                                 0.00                                      0.00
LESS: AMTS. TO COVER PREPAYMENT INT. SHORTFALL                     (2,925.11)                                (4,896.33)
      DELINQUENT SERVICING FEES                                    (1,754.98)                                  (545.39)
                                                        ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                49,762.52                                 22,668.64
                                                        =====================                     =====================

ADVANCED PRINCIPAL                                                  3,600.45                                  5,489.03
ADVANCED INTEREST                                                  24,470.39                                  7,122.06

------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 5 of 7                            (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 26, 1999
<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                          288,019.13              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                          368,677.66              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           12,800.85              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                                9.26              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                       1,207,245.73              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              37.80              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                           1,876,790.43              0.00                0.00                 0.00                0.00
------------------------------------------------------------------------------------------------------------------------------------

                                                             Page 6 of 7                            (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          November 26, 1999

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

GROUP IA PERCENTAGE                                              94.592401%
GROUP IA PREPAYMENT PERCENTAGE                                  100.000000%
GROUP IIA PERCENTAGE                                             97.076973%
GROUP IIA PREPAYMENT PERCENTAGE                                 100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                  7,222.06
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                 8,260.52
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?              NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?             NO

GROUP I BANKRUPTCY AMOUNT                                        100,000.00
GROUP II 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 1999 Deutsche Bank

<PAGE>

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

                        STATEMENTS TO CERTIFICATEHOLDERS

This statement is also available on Bankers Trust's website,
http://online.bankerstrust.com/invr/. BT begins posting statements to the web at
7:00 PM Eastern Standard time on the business day before each distribution date.

<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    10,944,456.72    61,562.57      343,984.37      405,546.94           0.00        0.00     10,600,472.35
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    82,825.35            0.00       82,825.35           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    43,603,409.02   245,269.18      421,578.91      666,848.09           0.00        0.00     43,181,830.11
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    24,535.00            0.00       24,535.00           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*     10,385,155.00     7,011,568.89    39,440.08            0.00       39,440.08           0.00        0.00      6,958,980.61
I-PO-L         43,461.00        36,901.02         0.00           36.15           36.15           0.00        0.00         36,864.87
I-B-L       7,922,383.17     7,801,781.47    43,885.02        7,264.71       51,149.73           0.00        0.00      7,794,516.76
R-I                50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
                   -----             ----         ----            ----            ----           ----        ----              ----
TOTALS    208,444,673.17   150,653,369.12   847,217.64      772,864.14    1,620,081.78           0.00        0.00    149,827,916.70
          ==============   ==============   ==========      ==========    ============           ====        ====    ==============
* Represents notional balance
</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                         337.782606     1.900027       10.616510       12.516537     327.166096    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     5.464583        0.000000        5.464583   1,000.000000    6.557500%         7.440000%
IA-4-L                       1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5-L                         593.243660     3.336996        5.735767        9.072763     587.507893    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     6.243751        0.000000        6.243751   1,000.000000    7.492500%         4.088571%
IA-10-L                      1,000.000000     5.625000       (0.000000)       5.625000   1,000.000000    6.750000%         6.750000%
I-X-L*                         675.153032     3.797736        0.000000        3.797736     670.089239    6.750000%         6.750000%
I-PO-L                         849.060537     0.000000        0.831780        0.831780     848.228757    0.000000%         0.000000%
I-B-L                          984.777093     5.539371        0.916985        6.456356     983.860108    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 27, 1999                 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    71,020,055.42   384,691.97      828,151.18    1,212,843.15           0.00        0.00     70,191,904.24
II-X-L*     2,345,961.00     1,562,688.33     8,464.56            0.00        8,464.56           0.00        0.00      1,549,421.90
II-PO-L       148,157.00       138,557.27         0.00          586.19          586.19           0.00        0.00        137,971.08
II-B-L      2,314,231.16     2,174,793.61    11,780.13        8,422.76       20,202.89           0.00        0.00      2,166,370.85
R-II               50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
TOTALS    105,200,650.16    74,896,094.63   404,936.66      837,160.13    1,242,096.79           0.00        0.00     74,045,668.07
          ==============    =============   ==========      ==========    ============           ====        ====     =============
*Represents notional balance
</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                        707.425670     3.831889        8.249154       12.081043     699.176516    6.500000%         6.500000%
II-X-L*                        666.118631     3.608142        0.000000        3.608142     660.463622    6.500000%         6.500000%
II-PO-L                        935.205694     0.000000        3.956546        3.956546     931.249148    0.000000%         0.000000%
II-B-L                         939.747786     5.090300        3.639550        8.729850     936.108236    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 27, 1999                 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    10,478,735.25    61,562.57      329,346.74      390,909.31           0.00        0.00     10,149,388.51
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    82,825.35            0.00       82,825.35           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    43,603,409.02   245,269.18      421,578.91      666,848.09           0.00        0.00     43,181,830.11
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       465,721.47         0.00       14,637.63       14,637.63           0.00        0.00        451,083.84
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    24,535.00            0.00       24,535.00           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*        319,111.11       319,111.11     1,795.00            0.00        1,795.00           0.00        0.00        319,111.11
I-X*       10,385,155.00     7,011,568.89    39,440.08            0.00       39,440.08           0.00        0.00      6,958,980.61
I-PO           43,461.00        36,901.02         0.00           36.15           36.15           0.00        0.00         36,864.87
I-M         3,664,102.00     3,608,323.73    20,296.82        3,359.93       23,656.75           0.00        0.00      3,604,963.80
IB-1        1,683,506.00     1,657,878.16     9,325.56        1,543.75       10,869.31           0.00        0.00      1,656,334.41
IB-2          891,268.00       877,700.33     4,937.06          817.28        5,754.34           0.00        0.00        876,883.05
IB-3          693,208.00       682,655.35     3,839.94          635.66        4,475.60           0.00        0.00        682,019.69
IB-4          495,148.00       487,610.41     2,742.81          454.04        3,196.85           0.00        0.00        487,156.37
IB-5          495,151.17       487,613.49     2,742.83          454.05        3,196.88           0.00        0.00        487,159.44
------------------------------------------------------------------------------------------------------------------------------------
TOTALS     **See summary of balances on next page.
------------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       337.782606     1.984473       10.616510       12.600983     327.166096    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     5.464583        0.000000        5.464583   1,000.000000    6.557500%         7.440000%
IA-4           055240DY8     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
IA-5           055240DZ5       593.243660     3.336996        5.735767        9.072763     587.507893    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       337.782596     0.000000       10.616510       10.616510     327.166086    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     6.243751        0.000000        6.243751   1,000.000000    7.492500%         4.088571%
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     1,000.000000     5.625000        0.000000        5.625000   1,000.000000    6.750000%         6.750000%
I-X*           055240EJ0       675.153032     3.797736        0.000000        3.797736     670.089239    6.750000%         6.750000%
I-PO           055240EL5       849.060537     0.000000        0.831780        0.831780     848.228757    0.000000%         0.000000%
I-M            055240EN1       984.777097     5.539371        0.916986        6.456357     983.860111    6.750000%         6.750000%
IB-1           055240EP6       984.777102     5.539368        0.916985        6.456354     983.860117    6.750000%         6.750000%
IB-2           055240EQ4       984.777115     5.539366        0.916986        6.456352     983.860130    6.750000%         6.750000%
IB-3           055240EX9       984.777080     5.539376        0.916983        6.456359     983.860097    6.750000%         6.750000%
IB-4           055240EY7       984.777097     5.539374        0.916978        6.456352     983.860119    6.750000%         6.750000%
IB-5           055240EZ4       984.777013     5.539379        0.916993        6.456372     983.860020    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 27, 1999                 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    71,020,055.42   384,691.97      828,151.18    1,212,843.15           0.00        0.00     70,191,904.24
II-X*       2,345,961.00     1,562,688.33     8,464.56            0.00        8,464.56           0.00        0.00      1,549,421.90
II-PO         148,157.00       138,557.27         0.00          586.19          586.19           0.00        0.00        137,971.08
IIM           874,264.00       821,587.67     4,450.27        3,181.93        7,632.20           0.00        0.00        818,405.74
IIB-1         462,846.00       434,958.48     2,356.03        1,684.55        4,040.58           0.00        0.00        433,273.93
IIB-2         308,564.00       289,972.34     1,570.68        1,123.03        2,693.71           0.00        0.00        288,849.31
IIB-3         308,564.00       289,972.34     1,570.68        1,123.03        2,693.71           0.00        0.00        288,849.31
IIB-4         154,282.00       144,986.17       785.34          561.52        1,346.86           0.00        0.00        144,424.65
IIB-5         205,711.16       193,316.61     1,047.13          748.70        1,795.83           0.00        0.00        192,567.91
R-III              50.00             0.00         0.00            0.00            0.00           0.00        0.00              0.00
-----------------------------------------------------------------------------------------------------------------------------------
TOTALS    313,964,384.44   225,868,574.86 1,252,154.30    1,610,024.27    2,862,178.57           0.00        0.00    224,192,695.88
-----------------------------------------------------------------------------------------------------------------------------------
*Represents notional balance
</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       707.425670     3.831889        8.249154       12.081043     699.176516    6.500000%         6.500000%
II-X*          055240EK7       666.118631     3.608142        0.000000        3.608142     660.463622    6.500000%         6.500000%
II-PO          055240EM3       935.205694     0.000000        3.956546        3.956546     931.249148    0.000000%         0.000000%
IIM            055240ER2       939.747799     5.090305        3.639553        8.729857     936.108246    6.500000%         6.500000%
IIB-1          055240ES0       939.747735     5.090311        3.639547        8.729858     936.108187    6.500000%         6.500000%
IIB-2          055240ET8       939.747799     5.090289        3.639537        8.729826     936.108263    6.500000%         6.500000%
IIB-3          055240FA8       939.747799     5.090289        3.639537        8.729826     936.108263    6.500000%         6.500000%
IIB-4          055240FB6       939.747799     5.090289        3.639569        8.729858     936.108230    6.500000%         6.500000%
IIB-5          055240FC4       939.747800     5.090293        3.639569        8.729862     936.108231    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, 1999                                               Irvine, CA 92614
DISTRIBUTION DATE:                               December 27, 1999                 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 27, 1999

<TABLE>
<CAPTION>
MORTGAGE POOL INFORMATION:                                    GROUP I                                  GROUP II
--------------------------                                    -------                                  --------
<S>                                                    <C>                                        <C>
BEGINNING BALANCE OF POOL                              143,641,800.61                             73,333,406.58
LESS:                SCHEDULED PRINCIPAL                  (133,755.37)                              (284,021.38)
                     PRINCIPAL PREPAYMENTS                (639,108.77)                              (553,138.75)
                     REPURCHASES                                 0.00                                      0.00
                     LIQUIDATIONS                                0.00                                      0.00
                     OTHER UNSCHEDULED PRINCIPAL                 0.00                                      0.00
                                                 ---------------------                     ---------------------
ENDING BALANCE OF POOL                                 142,868,936.47                             72,496,246.45
                                                 =====================                     =====================

BEGINNING NUMBER OF LOANS IN POOL                                 460                                       236
ENDING NUMBER OF LOANS IN POOL                                    458                                       235

WEIGHTED AVERAGE REMAINING TERM TO MATURITY                       328                                       156
WEIGHTED AVERAGE NET CONTRACT RATE                          7.536752%                                 7.087333%

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    519,790.55          0.00          0.00
               PERCENTAGE OF GROUP BAL.             0.0000%       0.0000%       0.0000%       0.3638%       0.0000%       0.0000%
             NUMBER OF LOANS                             0             0             0             0             0             0
               PERCENTAGE OF LOANS                  0.1199%       0.0000%       0.0000%       0.4367%       0.0000%       0.0000%
GROUP II     PRINCIPAL BALANCE                  233,807.86          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                                                               0.00
             GROUP II BOOK VALUE OF REO PROPERTIES                                                              0.00
</TABLE>


<TABLE>
<CAPTION>
SERVICING INFORMATION:                                                     GROUP I                                  GROUP II
----------------------                                                     -------                                  --------
<S>                                                                      <C>                                       <C>
SERVICING FEES ACCRUED DURING THE CURRENT DUE PERIOD                     54,105.38                                 27,750.82
PLUS:  ADDITIONAL SERVICING COMPENSATION                                      0.00                                      0.00
LESS:  AMTS. TO COVER PREPAYMENT INT. SHORTFALL                          (3,035.80)                                  (449.61)
       DELINQUENT SERVICING FEES                                         (1,242.48)                                  (827.34)
                                                              ---------------------                     ---------------------
SERVICING FEES COLLECTED FOR THE CURRENT DUE PERIOD                      49,827.10                                 26,473.87
                                                              =====================                     =====================

ADVANCED PRINCIPAL                                                        3,083.36                                  5,278.72
ADVANCED INTEREST                                                        20,657.08                                  7,913.01

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 5 of 7                            (C) COPYRIGHT 1999 Deutsche Bank
</TABLE>

<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          December 27, 1999

<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                          274,945.78              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                          351,943.18              0.00                0.00                 0.00                0.00
CLASS IA-6                                0.00              0.00                0.00                 0.00                0.00
CLASS IA-7                           12,219.81              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                                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                         553,097.62              0.00                0.00                 0.00                0.00
CLASS II-X                                0.00              0.00                0.00                 0.00                0.00
CLASS II-PO                              41.13              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                           1,192,247.52              0.00                0.00                 0.00                0.00

------------------------------------------------------------------------------------------------------------------------------------
                                                             Page 6 of 7                            (C) COPYRIGHT 1999 Deutsche Bank

</TABLE>
<PAGE>

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

                         STATEMENT TO CERTIFICATEHOLDERS

Distribution Date:                          December 27, 1999


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

GROUP IA PERCENTAGE                                                94.567190%
GROUP IA PREPAYMENT PERCENTAGE                                    100.000000%
GROUP IIA PERCENTAGE                                               97.028761%
GROUP IIA PREPAYMENT PERCENTAGE                                   100.000000%

GROUP I SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                    7,264.71
GROUP II SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT                   8,422.76
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP I?                NO
HAS THE CREDIT SUPPORT DEPLETION DATE OCCURRED FOR GROUP II?               NO

GROUP I BANKRUPTCY AMOUNT                                          100,000.00
GROUP II 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 1999 Deutsche Bank