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): January 20, 2003
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 January 20, 2003, 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 January
20, 2003 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: January 20, 2003
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 January 20, 2003
Payment Date: 01/20/03
------------------------------------------------------------
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 373,439,982.88 6.467564% 55,092,435.94 2,012,519.24 57,104,955.18 0.00 186.48
A2 10,038,709.22 6.000000% 1,480,979.46 50,188.90 1,531,168.36 0.00 4.65
A3 28,777,633.09 3.500000% 4,245,474.45 83,926.99 4,329,401.44 0.00 7.78
A4 227,912,830.84 5.000000% 33,623,269.09 949,548.81 34,572,817.90 0.00 87.98
A5 50,193,546.09 4.500000% 7,404,897.30 188,208.36 7,593,105.66 0.00 17.44
A6 167,311,820.29 4.200000% 24,682,991.01 585,537.12 25,268,528.13 0.00 54.26
A7 552,129.01 4.500000% 81,453.87 2,070.29 83,524.16 0.00 0.19
AIO 484,786,668.53 1.864336% 0.00 753,101.32 753,101.32 0.00 69.78
Residual AR 0.00 6.467564% 0.00 0.21 0.21 0.00 0.00
AMR 0.00 6.467564% 0.00 0.00 0.00 0.00 0.00
ALR 0.00 6.467564% 0.00 0.00 0.00 0.00 0.00
2A1 364,166,820.51 5.796994% 27,795,623.46 1,759,064.36 29,554,687.81 0.00 162.99
2A2 14,566,538.90 5.796994% 1,111,814.72 70,361.93 1,182,176.64 0.00 6.52
3A1 57,706,854.59 7.062497% 6,421,436.46 339,597.27 6,761,033.74 0.00 31.47
4A1 77,010,990.25 4.698000% 5,963,162.46 301,470.09 6,264,632.55 0.00 27.93
4IO 77,010,990.25 0.587070% 0.00 37,672.18 37,672.18 0.00 3.49
BIO 0.00 0.000000% 0.00 25,953.13 25,953.13 0.00 2.40
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,321,550.74 4.571324% 22,795.22 69,788.32 92,583.53 0.00 6.47
B2 7,713,187.13 6.271324% 9,596.56 40,306.18 49,902.73 0.00 3.73
B3 3,856,593.57 6.271324% 4,798.28 20,153.09 24,951.37 0.00 1.87
B4 1,928,793.38 6.271324% 2,399.76 10,079.14 12,478.90 0.00 0.93
B5 1,927,800.18 6.271324% 2,398.52 10,073.95 12,472.47 0.00 0.93
B6 2,893,480.72 6.271324% 3,600.00 15,120.23 18,720.22 0.00 1.40
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,408,319,261.38 - 167,949,126.56 7,324,741.08 175,273,867.64 - 678.70
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 318,347,546.94 186.48
A2 8,557,729.76 4.65
A3 24,532,158.64 7.78
A4 194,289,561.75 87.98
A5 42,788,648.78 17.44
A6 142,628,829.27 54.26
A7 470,675.14 0.19
AIO 413,267,603.34 69.78
Residual AR 0.00 0.00
AMR 0.00 0.00
ALR 0.00 0.00
2A1 336,371,197.06 162.99
2A2 13,454,724.18 6.52
3A1 51,285,418.13 31.47
4A1 71,047,827.79 27.93
4IO 71,047,827.79 3.49
BIO 0.00 2.40
- --------------------------------------------------------------------------------
Subordinate B1 18,298,755.52 6.47
B2 7,703,590.58 3.73
B3 3,851,795.29 1.87
B4 1,926,393.63 0.93
B5 1,925,401.66 0.93
B6 2,889,880.72 1.40
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,240,370,134.82 678.70
- --------------------------------------------------------------------------------
Payment Date: 01/20/03
------------------------------------------------------------
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 373,439,982.88 6.467564% 06050HXK9 98.731964 3.606665 570.515317
A2 10,038,709.22 6.000000% 06050HXL7 98.731964 3.345926 570.515317
A3 28,777,633.09 3.500000% 06050HXM5 98.731964 1.951790 570.515317
A4 227,912,830.84 5.000000% 06050HXN3 98.731964 2.788272 570.515317
A5 50,193,546.09 4.500000% 06050HXP8 98.731964 2.509445 570.515317
A6 167,311,820.29 4.200000% 06050HXQ6 98.731964 2.342148 570.515317
A7 552,129.01 4.500000% 06050HXR4 98.731964 2.509445 570.515317
AIO 484,786,668.53 1.864336% 06050HXS2 0.000000 1.039655 570.515317
Residual AR 0.00 6.467564% 06050HXT0 0.000000 4.211738 0.000000
AMR 0.00 6.467564% 06050HXU7 0.000000 0.000000 0.000000
ALR 0.00 6.467564% 06050HXV5 0.000000 0.000000 0.000000
2A1 364,166,820.51 5.796994% 06050HXW3 63.886383 4.043092 773.126713
2A2 14,566,538.90 5.796994% 06050HXX1 63.886383 4.043092 773.126713
3A1 57,706,854.59 7.062497% 06050HXY9 89.325568 4.723977 713.407219
4A1 77,010,990.25 4.698000% 06050HXZ6 60.912617 3.079462 725.740603
4IO 77,010,990.25 0.587070% 06050HYA0 0.000000 0.384814 725.740603
BIO 0.00 0.000000% 06050HYB8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,321,550.74 4.571324% 06050HYC6 1.235714 3.783180 991.963762
B2 7,713,187.13 6.271324% 06050HYD4 1.235714 5.190082 991.963762
B3 3,856,593.57 6.271324% 06050HYE2 1.235714 5.190082 991.963762
B4 1,928,793.38 6.271324% 06050HYF9 1.235714 5.190082 991.963762
B5 1,927,800.18 6.271324% 06050HYG7 1.235714 5.190082 991.963762
B6 2,893,480.72 6.271324% 06050HYH5 1.235714 5.190083 991.963899
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,408,319,261.38 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K
Bank of America, N.A., Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 756,324,503.25 358,437,694.71 52,671,978.98
Loan count 1585 717 119
Avg loan rate 6.717564% 6.046994% 7.312497%
Prepay amount 125,483,522.19 28,496,351.09 6,357,330.94
Total
-----
Prin balance 72,935,957.48 1,240,370,134.42
Loan count 144 2565
Avg loan rate 5.660070% 6.50
Prepay amount 5,874,751.12 166,211,955.34
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees -38,589.80 28,120.28 -925.82
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 18,935.52 7,540.18
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 97.401370% 100.000000% 1,371,677,855.67
-----------------------------------------------------------------------------
Junior 2.598630% 0.000000% 36,595,817.39
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 13 5,291,892.61
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 13 5,291,892.61
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 175,273,867.64 175,273,867.64
Principal remittance amount 167,949,126.56 167,949,126.56
Interest remittance amount 7,324,741.08 7,324,741.08