SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 20, 2002
BOA
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K)
(Exact name of registrant as specified in charter)
North Carolina 333-80941 13-4147977/78
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
100 N. Tryon St., Charlotte, NC 28255
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: 704-388-5770
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
BOA
MORTGAGE PASS-THROUGH CERTIFICATES
Series 2002-K
On October 20, 2002, The Bank of New York, as Trustee for BOA, MORTGAGE
PASS-THROUGH CERTIFICATES Series 2002-K, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of September 1, 2002, among BOA as Depositor, BANK
OF AMERICA MORTGAGE SECURITIES, INC., Seller and Master Servicer and The Bank of
New York, as Trustee.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of BOA, MORTGAGE PASS-THROUGH CERTIFICATES
Series 2002-K relating to the distribution date of October
20, 2002 prepared by The Bank of New York, as Trustee under
the Pooling and Servicing Agreement dated as of September 1,
2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: October 20, 2002
BOA
By: /s/ Diane Pickett
------------------------------
Name: Diane Pickett
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Monthly Remittance Statement dated October 20, 2002
Payment Date: 10/20/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K
Bank of America, N.A., Master Servicer
------------------------------------------------------------
Class Information Current Payment Information
- ----------------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru Principal Interest Total Principal Interest
Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls
- ----------------------------------------------------------------------------------------------------------------------------------
Senior A1 558,000,000.00 6.463233% 56,482,015.46 3,005,403.32 59,487,418.78 0.00 0.00
A2 15,000,000.00 6.000000% 1,518,333.75 75,000.00 1,593,333.75 0.00 0.00
A3 43,000,000.00 3.500000% 4,352,556.75 125,416.67 4,477,973.41 0.00 0.00
A4 340,551,000.00 5.000000% 34,471,338.44 1,418,962.50 35,890,300.94 0.00 0.00
A5 75,000,000.00 4.500000% 7,591,668.74 281,250.00 7,872,918.74 0.00 0.00
A6 250,000,000.00 4.200000% 25,305,562.48 875,000.00 26,180,562.48 0.00 0.00
A7 825,000.00 4.500000% 83,508.36 3,093.75 86,602.11 0.00 0.00
AIO 724,376,000.00 1.860005% 0.00 1,122,786.11 1,122,786.11 0.00 0.00
Residual AR 50.00 6.463233% 50.00 0.28 50.28 0.00 0.00
AMR 25.00 6.463233% 25.00 0.13 25.13 0.00 0.00
ALR 25.00 6.463233% 25.00 0.13 25.13 0.00 0.00
2A1 435,079,000.00 5.819128% 24,456,852.80 2,109,816.85 26,566,669.65 0.00 0.00
2A2 17,403,000.00 5.819128% 978,265.12 84,391.90 1,062,657.02 0.00 0.00
3A1 71,888,000.00 7.018609% 6,597,841.61 420,461.50 7,018,303.11 0.00 0.00
4A1 97,897,000.00 4.698000% 4,190,426.41 383,266.76 4,573,693.17 0.00 0.00
4IO 97,897,000.00 0.587092% 0.00 47,895.45 47,895.45 0.00 0.00
BIO 0.00 0.000000% 0.00 26,133.25 26,133.25 0.00 0.00
B1 18,447,000.00 4.570609% 80,319.61 70,261.68 150,581.29 0.00 0.00
B2 7,766,000.00 6.270609% 33,813.74 40,581.29 74,395.03 0.00 0.00
B3 3,883,000.00 6.270609% 16,906.87 20,290.64 37,197.51 0.00 0.00
B4 1,942,000.00 6.270609% 8,455.61 10,147.93 18,603.55 0.00 0.00
B5 1,941,000.00 6.270609% 8,451.26 10,142.71 18,593.97 0.00 0.00
B6 2,913,292.23 6.270609% 12,684.69 15,223.43 27,908.12 0.00 0.00
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- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,941,535,392.23 - 166,189,101.69 10,145,526.29 176,334,627.98 - -
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Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 501,517,984.54 0.00
A2 13,481,666.25 0.00
A3 38,647,443.25 0.00
A4 306,079,661.56 0.00
A5 67,408,331.26 0.00
A6 224,694,437.52 0.00
A7 741,491.64 0.00
AIO 651,053,031.48 0.00
Residual AR 0.00 0.00
AMR 0.00 0.00
ALR 0.00 0.00
2A1 410,622,147.20 0.00
2A2 16,424,734.88 0.00
3A1 65,290,158.39 0.00
4A1 93,706,573.59 0.00
4IO 93,706,573.59 0.00
BIO 0.00 0.00
B1 18,366,680.39 0.00
B2 7,732,186.26 0.00
B3 3,866,093.13 0.00
B4 1,933,544.39 0.00
B5 1,932,548.74 0.00
B6 2,900,607.54 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,775,346,290.54 -
- --------------------------------------------------------------------------------
Payment Date: 10/20/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K
Bank of America, N.A., Master Servicer
------------------------------------------------------------
Class Information Current Payment Information
Factors per $1,000
- ------------------------------------------------------------------------------------------------------------------------
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Senior A1 558,000,000.00 6.463233% 06050HXK9 101.222250 5.386027 898.777750
A2 15,000,000.00 6.000000% 06050HXL7 101.222250 5.000000 898.777750
A3 43,000,000.00 3.500000% 06050HXM5 101.222250 2.916667 898.777750
A4 340,551,000.00 5.000000% 06050HXN3 101.222250 4.166667 898.777750
A5 75,000,000.00 4.500000% 06050HXP8 101.222250 3.750000 898.777750
A6 250,000,000.00 4.200000% 06050HXQ6 101.222250 3.500000 898.777750
A7 825,000.00 4.500000% 06050HXR4 101.222250 3.750000 898.777750
AIO 724,376,000.00 1.860005% 06050HXS2 0.000000 1.550005 898.777750
Residual AR 50.00 6.463233% 06050HXT0 1,000.000000 5.613860 0.000000
AMR 25.00 6.463233% 06050HXU7 1,000.000000 5.386027 0.000000
ALR 25.00 6.463233% 06050HXV5 1,000.000000 5.386027 0.000000
2A1 435,079,000.00 5.819128% 06050HXW3 56.212441 4.849273 943.787559
2A2 17,403,000.00 5.819128% 06050HXX1 56.212441 4.849273 943.787559
3A1 71,888,000.00 7.018609% 06050HXY9 91.779457 5.848841 908.220543
4A1 97,897,000.00 4.698000% 06050HXZ6 42.804442 3.915000 957.195558
4IO 97,897,000.00 0.587092% 06050HYA0 0.000000 0.489243 957.195558
BIO 0.00 0.000000% 06050HYB8 0.000000 0.000000 0.000000
B1 18,447,000.00 4.570609% 06050HYC6 4.354074 3.808840 995.645926
B2 7,766,000.00 6.270609% 06050HYD4 4.354074 5.225507 995.645926
B3 3,883,000.00 6.270609% 06050HYE2 4.354074 5.225507 995.645926
B4 1,942,000.00 6.270609% 06050HYF9 4.354074 5.225507 995.645926
B5 1,941,000.00 6.270609% 06050HYG7 4.354074 5.225507 995.645926
B6 2,913,292.23 6.270609% 06050HYH5 4.354074 5.225507 995.645926
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,941,535,392.23 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K
Bank of America, N.A., Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 1,177,377,022.80 435,686,558.80 66,681,480.14
Loan count 2445 832 155
Avg loan rate 6.713233% 6.069128% 7.268609%
Prepay amount 128,156,560.84 18,986,060.89 6,511,877.16
Total
-----
Prin balance 95,601,228.80 1,775,346,290.54
Loan count 183 3615
Avg loan rate 5.660092% 6.53
Prepay amount 4,081,121.72 157,735,620.61
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 123,806.98 78,916.22 9,648.07
Sub servicer fees 0.00 0.00 0.00
Trustee fees 0.00 0.00 0.00
Agg advances N/A N/A N/A
Adv this period 0.00 0.00 0.00
Total
-----
Master serv fees 25,556.53 237,927.80
Sub servicer fees 0.00 0.00
Trustee fees 0.00 0.00
Agg advances N/A N/A
Adv this period 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Realized losses 0.00 0.00 0.00
Cumulative losses 0.00 0.00 0.00
Total
-----
Realized losses 0.00 0.00
Cumulative losses 0.00 0.00
Coverage Amounts
- ----------------
Bankruptcy 0.00 0.00 0.00
Fraud 0.00 0.00 0.00
Special Hazard 0.00 0.00 0.00
Total
-----
Bankruptcy 0.00 0.00
Fraud 0.00 0.00
Special Hazard 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 100.000000% 100.000000% 1,941,535,392.23
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Junior 0.000000% 0.000000% 0.00
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 3 1,488,849.96
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 3 1,488,849.96
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
REO INFORMATION
- --------------------------------------------------------------------------------
REO Date Loan Number Ending Stated Balance Book Value
-------- ----------- --------------------- ----------
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
N/A # 0 N/A
Totals: 0 N/A
Current Total Outstanding Balance: 0.00
Current Total Outstanding Number of Loans: 0
- --------------------------------------------------------------------------------
OTHER INFORMATION
- --------------------------------------------------------------------------------
Amount/Withdrawal Total/Ending Bal.
----------------- -----------------
Available remittance amount 176,334,627.98 176,334,627.98
Principal remittance amount 166,189,101.69 166,189,101.69
Interest remittance amount 10,145,526.29 10,145,526.29