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): December 25, 2002
BOA
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-1)
(Exact name of registrant as specified in charter)
North Carolina 333-74544-06 95-4449516
(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 2002-1
On December 25, 2002, The Bank of New York, as Trustee for BOA, MORTGAGE
PASS-THROUGH CERTIFICATES Series 2002-1, made a monthly distribution to
Certificate holders of principal and/or interest pursuant to the Pooling and
Servicing Agreement, dated as of January 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 2002-1 relating to the distribution date of December
25, 2002 prepared by The Bank of New York, as Trustee under
the Pooling and Servicing Agreement dated as of January 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: December 25, 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 December 25, 2002
Payment Date: 12/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-1
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 1-A1 235,822,579.28 6.500000% 18,559,366.32 1,277,372.30 19,836,738.63 0.00 0.00
1-A2 25,520,000.00 6.500000% 0.00 138,233.33 138,233.33 0.00 0.00
1-A3 37,533,000.00 6.500000% 0.00 203,303.75 203,303.75 0.00 0.00
1-A4 40,250,000.00 6.500000% 0.00 218,020.83 218,020.83 0.00 0.00
Residual 1-AR 0.00 6.500000% 0.00 0.14 0.14 0.00 0.00
1-A-PO 7,232,604.18 0.000000% 149,471.70 0.00 149,471.70 0.00 0.00
2-A1 143,769,029.85 6.500000% 12,094,142.23 778,748.91 12,872,891.14 0.00 0.00
3-A1 197,598,585.33 6.250000% 23,780,731.25 1,029,159.30 24,809,890.55 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B1 5,590,237.20 6.500000% 5,329.04 30,280.45 35,609.49 0.00 0.00
1-B2 2,196,058.44 6.500000% 2,093.45 11,895.32 13,988.77 0.00 0.00
1-B3 1,597,493.77 6.500000% 1,522.85 8,653.09 10,175.94 0.00 0.00
1-B4 599,060.16 6.500000% 571.07 3,244.91 3,815.98 0.00 0.00
1-B5 798,746.89 6.500000% 761.43 4,326.55 5,087.97 0.00 0.00
1-B6 599,447.57 6.500000% 571.44 3,247.01 3,818.45 0.00 0.00
2-B1 2,396,925.20 6.500000% 2,246.00 12,983.34 15,229.34 0.00 0.00
2-B2 942,020.84 6.500000% 882.70 5,102.61 5,985.32 0.00 0.00
2-B3 684,835.77 6.500000% 641.71 3,709.53 4,351.24 0.00 0.00
2-B4 257,185.07 6.500000% 240.99 1,393.09 1,634.08 0.00 0.00
2-B5 342,417.89 6.500000% 320.86 1,854.76 2,175.62 0.00 0.00
2-B6 257,252.25 6.500000% 241.01 1,393.45 1,634.46 0.00 0.00
3-B1 1,590,509.33 6.250000% 5,944.61 8,283.90 14,228.51 0.00 0.00
3-B2 662,752.44 6.250000% 2,477.07 3,451.84 5,928.91 0.00 0.00
3-B3 397,748.01 6.250000% 1,486.60 2,071.60 3,558.21 0.00 0.00
3-B4 265,487.14 6.250000% 992.27 1,382.75 2,375.02 0.00 0.00
3-B5 132,743.57 6.250000% 496.14 691.37 1,187.51 0.00 0.00
3-B6 265,210.02 6.250000% 991.24 1,381.30 2,372.54 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 707,301,930.21 - 54,611,521.98 3,750,185.44 58,361,707.42 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1-A1 217,263,212.96 0.00
1-A2 25,520,000.00 0.00
1-A3 37,533,000.00 0.00
1-A4 40,250,000.00 0.00
Residual 1-AR 0.00 0.00
1-A-PO 7,083,132.47 0.00
2-A1 131,674,887.62 0.00
3-A1 173,817,854.08 0.00
- --------------------------------------------------------------------------------
Subordinate 1-B1 5,584,908.16 0.00
1-B2 2,193,964.99 0.00
1-B3 1,595,970.92 0.00
1-B4 598,489.09 0.00
1-B5 797,985.46 0.00
1-B6 598,876.13 0.00
2-B1 2,394,679.21 0.00
2-B2 941,138.14 0.00
2-B3 684,194.06 0.00
2-B4 256,944.08 0.00
2-B5 342,097.03 0.00
2-B6 257,011.25 0.00
3-B1 1,584,564.71 0.00
3-B2 660,275.37 0.00
3-B3 396,261.40 0.00
3-B4 264,494.87 0.00
3-B5 132,247.43 0.00
3-B6 264,218.78 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 652,690,408.23 -
- --------------------------------------------------------------------------------
Payment Date: 12/25/02
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-1
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 1-A1 235,822,579.28 6.500000% 0605065P3 65.460519 4.505405 766.306479
1-A2 25,520,000.00 6.500000% 0605065Q1 0.000000 5.416667 1,000.000000
1-A3 37,533,000.00 6.500000% 0605065R9 0.000000 5.416667 1,000.000000
1-A4 40,250,000.00 6.500000% 0605065S7 0.000000 5.416667 1,000.000000
Residual 1-AR 0.00 6.500000% 0605065T5 0.000000 1.364413 0.000000
1-A-PO 7,232,604.18 0.000000% 0605065W8 19.406538 0.000000 919.632815
2-A1 143,769,029.85 6.500000% 0605065U2 72.949003 4.697229 794.231750
3-A1 197,598,585.33 6.250000% 0605065V0 88.064062 3.811151 643.676854
- ------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B1 5,590,237.20 6.500000% 0605065X6 0.944698 5.367923 990.056401
1-B2 2,196,058.44 6.500000% 0605065Y4 0.944698 5.367923 990.056401
1-B3 1,597,493.77 6.500000% 0605065Z1 0.944698 5.367923 990.056401
1-B4 599,060.16 6.500000% 0605066G2 0.944698 5.367923 990.056401
1-B5 798,746.89 6.500000% 0605066H0 0.944698 5.367923 990.056401
1-B6 599,447.57 6.500000% 0605066J6 0.944698 5.367924 990.056589
2-B1 2,396,925.20 6.500000% 0605066A5 0.928673 5.368346 990.150592
2-B2 942,020.84 6.500000% 0605066B3 0.928673 5.368346 990.150592
2-B3 684,835.77 6.500000% 0605066C1 0.928673 5.368346 990.150592
2-B4 257,185.07 6.500000% 0605066K3 0.928673 5.368346 990.150592
2-B5 342,417.89 6.500000% 0605066L1 0.928673 5.368346 990.150592
2-B6 257,252.25 6.500000% 0605066M9 0.928488 5.368350 990.151535
3-B1 1,590,509.33 6.250000% 0605066D9 3.608262 5.028166 961.799523
3-B2 662,752.44 6.250000% 0605066E7 3.608262 5.028166 961.799523
3-B3 397,748.01 6.250000% 0605066F4 3.608262 5.028166 961.799523
3-B4 265,487.14 6.250000% 0605066N7 3.608262 5.028166 961.799523
3-B5 132,743.57 6.250000% 0605066P2 3.608262 5.028166 961.799523
3-B6 265,210.02 6.250000% 0605066Q0 3.608264 5.028169 961.800111
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 707,301,930.21 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-1
Bank of America, N.A., Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 336,258,163.63 138,449,324.21 177,982,919.86
Loan count 752 290 386
Avg loan rate 6.766250% 6.750243% 6.608637%
Prepay amount 18,254,050.89 12,008,705.98 23,114,514.38
Total
-----
Prin balance 652,690,407.71
Loan count 1428
Avg loan rate 6.72
Prepay amount 53,377,271.25
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 69,981.82 18,941.56 29,262.36
Sub servicer fees 0.00 0.00 0.00
Trustee fees 591.42 251.00 336.42
Agg advances N/A N/A N/A
Adv this period 0.00 0.00 0.00
Total
-----
Master serv fees 118,185.75
Sub servicer fees 0.00
Trustee fees 1,178.84
Agg advances N/A
Adv this period 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
Cumulative losses 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
Fraud 0.00
Special Hazard 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 97.236104% 100.000000% 687,725,798.65
-----------------------------------------------------------------------------
Junior 2.763896% 0.000000% 19,548,321.09
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 9 4,681,689.45
60 to 89 days 1 938,000.41
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 10 5,619,689.86
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 58,361,707.42 58,361,707.42
Principal remittance amount 54,611,521.98 54,611,521.98
Interest remittance amount 3,750,185.44 3,750,185.44