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 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 December 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 December
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: December 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 December 20, 2002
Payment Date: 12/20/02
------------------------------------------------------------
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 429,487,667.49 6.464155% 56,047,684.60 2,313,562.43 58,361,247.03 0.00 0.00
A2 11,545,367.41 6.000000% 1,506,658.19 57,726.84 1,564,385.03 0.00 0.00
A3 33,096,719.90 3.500000% 4,319,086.81 96,532.10 4,415,618.91 0.00 0.00
A4 262,119,094.35 5.000000% 34,206,263.51 1,092,162.89 35,298,426.40 0.00 0.00
A5 57,726,837.03 4.500000% 7,533,290.94 216,475.64 7,749,766.58 0.00 0.00
A6 192,422,790.09 4.200000% 25,110,969.80 673,479.77 25,784,449.57 0.00 0.00
A7 634,995.21 4.500000% 82,866.20 2,381.23 85,247.43 0.00 0.00
AIO 557,545,803.98 1.860928% 0.00 864,627.01 864,627.01 0.00 0.00
Residual AR 0.00 6.464155% 0.00 0.00 0.00 0.00 0.00
AMR 0.00 6.464155% 0.00 0.00 0.00 0.00 0.00
ALR 0.00 6.464155% 0.00 0.00 0.00 0.00 0.00
2A1 388,687,846.32 5.808985% 24,521,025.81 1,881,568.22 26,402,594.03 0.00 0.00
2A2 15,547,370.91 5.808985% 980,832.01 75,262.04 1,056,094.05 0.00 0.00
3A1 62,336,394.10 7.054463% 4,629,539.51 366,458.18 4,995,997.69 0.00 0.00
4A1 82,019,573.14 4.698000% 5,008,582.89 321,106.63 5,329,689.52 0.00 0.00
4IO 82,019,573.14 0.586133% 0.00 40,061.97 40,061.97 0.00 0.00
BIO 0.00 0.000000% 0.00 25,987.55 25,987.55 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,344,150.97 4.571516% 22,600.23 69,883.81 92,484.04 0.00 0.00
B2 7,722,701.60 6.271516% 9,514.47 40,360.87 49,875.34 0.00 0.00
B3 3,861,350.80 6.271516% 4,757.23 20,180.44 24,937.67 0.00 0.00
B4 1,931,172.61 6.271516% 2,379.23 10,092.82 12,472.05 0.00 0.00
B5 1,930,178.19 6.271516% 2,378.00 10,087.62 12,465.62 0.00 0.00
B6 2,897,049.52 6.271516% 3,568.80 15,140.74 18,709.55 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,572,311,259.63 - 163,991,998.25 8,193,138.79 172,185,137.04 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 373,439,982.88 0.00
A2 10,038,709.22 0.00
A3 28,777,633.09 0.00
A4 227,912,830.84 0.00
A5 50,193,546.09 0.00
A6 167,311,820.29 0.00
A7 552,129.01 0.00
AIO 484,786,668.53 0.00
Residual AR 0.00 0.00
AMR 0.00 0.00
ALR 0.00 0.00
2A1 364,166,820.51 0.00
2A2 14,566,538.90 0.00
3A1 57,706,854.59 0.00
4A1 77,010,990.25 0.00
4IO 77,010,990.25 0.00
BIO 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 18,321,550.74 0.00
B2 7,713,187.13 0.00
B3 3,856,593.57 0.00
B4 1,928,793.38 0.00
B5 1,927,800.18 0.00
B6 2,893,480.72 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,408,319,261.38 -
- --------------------------------------------------------------------------------
Payment Date: 12/20/02
------------------------------------------------------------
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 429,487,667.49 6.464155% 06050HXK9 100.443879 4.146169 669.247281
A2 11,545,367.41 6.000000% 06050HXL7 100.443879 3.848456 669.247281
A3 33,096,719.90 3.500000% 06050HXM5 100.443879 2.244933 669.247281
A4 262,119,094.35 5.000000% 06050HXN3 100.443879 3.207047 669.247281
A5 57,726,837.03 4.500000% 06050HXP8 100.443879 2.886342 669.247281
A6 192,422,790.09 4.200000% 06050HXQ6 100.443879 2.693919 669.247281
A7 634,995.21 4.500000% 06050HXR4 100.443879 2.886342 669.247281
AIO 557,545,803.98 1.860928% 06050HXS2 0.000000 1.193616 669.247281
Residual AR 0.00 6.464155% 06050HXT0 0.000000 0.000001 0.000000
AMR 0.00 6.464155% 06050HXU7 0.000000 0.000000 0.000000
ALR 0.00 6.464155% 06050HXV5 0.000000 0.000000 0.000000
2A1 388,687,846.32 5.808985% 06050HXW3 56.359939 4.324659 837.013095
2A2 15,547,370.91 5.808985% 06050HXX1 56.359939 4.324659 837.013095
3A1 62,336,394.10 7.054463% 06050HXY9 64.399337 5.097627 802.732787
4A1 82,019,573.14 4.698000% 06050HXZ6 51.161761 3.280046 786.653220
4IO 82,019,573.14 0.586133% 06050HYA0 0.000000 0.409226 786.653220
BIO 0.00 0.000000% 06050HYB8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,344,150.97 4.571516% 06050HYC6 1.225144 3.788357 993.199476
B2 7,722,701.60 6.271516% 06050HYD4 1.225144 5.197125 993.199476
B3 3,861,350.80 6.271516% 06050HYE2 1.225144 5.197125 993.199476
B4 1,931,172.61 6.271516% 06050HYF9 1.225144 5.197125 993.199476
B5 1,930,178.19 6.271516% 06050HYG7 1.225144 5.197125 993.199476
B6 2,897,049.52 6.271516% 06050HYH5 1.225006 5.197125 993.199614
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,572,311,259.63 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K
Bank of America, N.A., Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 882,968,522.97 387,354,490.49 59,094,957.46
Loan count 1835 762 134
Avg loan rate 6.714155% 6.058985% 7.304463%
Prepay amount 127,525,245.68 25,065,844.03 4,560,958.99
Total
-----
Prin balance 78,901,290.07 1,408,319,260.99
Loan count 153 2884
Avg loan rate 5.659133% 6.51
Prepay amount 4,913,506.82 162,065,555.51
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees -21,932.85 42,511.49 6,273.13
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 16,088.60 42,940.37
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 97.669516% 100.000000% 1,535,624,655.95
-----------------------------------------------------------------------------
Junior 2.330484% 0.000000% 36,641,405.72
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 19 7,065,908.84
60 to 89 days 1 597,812.33
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 20 7,663,721.17
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 172,185,137.04 172,185,137.04
Principal remittance amount 163,991,998.25 163,991,998.25
Interest remittance amount 8,193,138.79 8,193,138.79