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): March 20, 2003
BOA
(Depositor)
(Issuer in respect of MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K Trust)
(Exact name of registrant as specified in charter)
North Carolina 333-97547-05 61-1430151/Man
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
101 N. Tryon St., Charlotte, NC 28255
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: 704-387-2111
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 Trust
On March 20, 2003, The Bank of New York, as Trustee for BOA, MORTGAGE
PASS-THROUGH CERTIFICATES Series 2002-K Trust, 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 Trust relating to the distribution date of
March 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: March 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 March 20, 2003
Payment Date: 03/20/03
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K Trust
Bank of America, NA, as 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 278,454,285.75 6.452731% 30,876,647.04 1,497,325.45 32,373,972.49 0.00 0.00
A2 7,485,330.26 6.000000% 830,017.39 37,426.65 867,444.04 0.00 0.00
A3 21,457,946.75 3.500000% 2,379,383.19 62,585.68 2,441,968.87 0.00 0.00
A4 169,942,447.07 5.000000% 18,844,216.89 708,093.53 19,552,310.42 0.00 0.00
A5 37,426,651.31 4.500000% 4,150,086.97 140,349.94 4,290,436.91 0.00 0.00
A6 124,755,504.37 4.200000% 13,833,623.23 436,644.27 14,270,267.49 0.00 0.00
A7 411,693.16 4.500000% 45,650.96 1,543.85 47,194.81 0.00 0.00
AIO 361,479,572.93 1.849503% 0.00 557,131.38 557,131.38 0.00 0.00
Residual AR 0.00 6.452731% 0.00 0.00 0.00 0.00 0.00
AMR 0.00 6.452731% 0.00 0.00 0.00 0.00 0.00
ALR 0.00 6.452731% 0.00 0.00 0.00 0.00 0.00
2A1 316,160,546.13 5.775844% 16,028,887.08 1,521,744.99 17,550,632.06 0.00 0.00
2A2 12,646,305.58 5.775844% 641,149.59 60,869.24 702,018.83 0.00 0.00
3A1 46,583,279.84 7.093856% 3,746,940.58 275,379.24 4,022,319.82 0.00 0.00
4A1 66,808,009.13 4.698000% 7,378,005.71 261,553.36 7,639,559.07 0.00 0.00
4IO 66,808,009.13 0.579051% 0.00 32,237.68 32,237.68 0.00 0.00
BIO 0.00 0.000000% 0.00 25,890.58 25,890.58 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,275,701.01 4.557050% 23,308.86 69,402.73 92,711.59 0.00 0.00
B2 7,693,884.86 6.257050% 9,812.79 40,117.52 49,930.31 0.00 0.00
B3 3,846,942.43 6.257050% 4,906.40 20,058.76 24,965.16 0.00 0.00
B4 1,923,966.57 6.257050% 2,453.83 10,031.96 12,485.79 0.00 0.00
B5 1,922,975.86 6.257050% 2,452.57 10,026.80 12,479.36 0.00 0.00
B6 2,886,239.95 6.257050% 3,681.06 15,049.46 18,730.51 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 1,118,681,710.02 - 98,801,224.14 5,783,463.05 104,584,687.19 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 247,577,638.71 0.00
A2 6,655,312.87 0.00
A3 19,078,563.56 0.00
A4 151,098,230.18 0.00
A5 33,276,564.34 0.00
A6 110,921,881.14 0.00
A7 366,042.21 0.00
AIO 321,396,594.30 0.00
Residual AR 0.00 0.00
AMR 0.00 0.00
ALR 0.00 0.00
2A1 300,131,659.05 0.00
2A2 12,005,155.99 0.00
3A1 42,836,339.26 0.00
4A1 59,430,003.42 0.00
4IO 59,430,003.42 0.00
BIO 0.00 0.00
- --------------------------------------------------------------------------------
Subordinate B1 18,252,392.14 0.00
B2 7,684,072.07 0.00
B3 3,842,036.03 0.00
B4 1,921,512.74 0.00
B5 1,920,523.29 0.00
B6 2,882,558.89 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 1,019,880,485.88 -
- --------------------------------------------------------------------------------
Payment Date: 03/20/03
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K Trust
Bank of America, NA, as 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 278,454,285.75 6.452731% 06050HXK9 55.334493 2.683379 443.687525
A2 7,485,330.26 6.000000% 06050HXL7 55.334493 2.495110 443.687525
A3 21,457,946.75 3.500000% 06050HXM5 55.334493 1.455481 443.687525
A4 169,942,447.07 5.000000% 06050HXN3 55.334493 2.079258 443.687525
A5 37,426,651.31 4.500000% 06050HXP8 55.334493 1.871333 443.687525
A6 124,755,504.37 4.200000% 06050HXQ6 55.334493 1.746577 443.687525
A7 411,693.16 4.500000% 06050HXR4 55.334493 1.871333 443.687525
AIO 361,479,572.93 1.849503% 06050HXS2 0.000000 0.769119 443.687525
Residual AR 0.00 6.452731% 06050HXT0 0.000000 0.000000 0.000000
AMR 0.00 6.452731% 06050HXU7 0.000000 0.000000 0.000000
ALR 0.00 6.452731% 06050HXV5 0.000000 0.000000 0.000000
2A1 316,160,546.13 5.775844% 06050HXW3 36.841326 3.497629 689.832557
2A2 12,646,305.58 5.775844% 06050HXX1 36.841326 3.497629 689.832557
3A1 46,583,279.84 7.093856% 06050HXY9 52.121920 3.830671 595.876075
4A1 66,808,009.13 4.698000% 06050HXZ6 75.364983 2.671720 607.066646
4IO 66,808,009.13 0.579051% 06050HYA0 0.000000 0.329302 607.066646
BIO 0.00 0.000000% 06050HYB8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,275,701.01 4.557050% 06050HYC6 1.263558 3.762277 989.450433
B2 7,693,884.86 6.257050% 06050HYD4 1.263558 5.165789 989.450433
B3 3,846,942.43 6.257050% 06050HYE2 1.263558 5.165789 989.450433
B4 1,923,966.57 6.257050% 06050HYF9 1.263558 5.165789 989.450433
B5 1,922,975.86 6.257050% 06050HYG7 1.263558 5.165789 989.450433
B6 2,886,239.95 6.257050% 06050HYH5 1.263538 5.165790 989.450650
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 1,118,681,710.02 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K Trust
Bank of America, NA, as Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 593,617,375.73 320,729,716.25 44,219,717.40
Loan count 1249 648 98
Avg loan rate 6.702731% 6.025844% 7.343856%
Prepay amount 70,096,045.78 16,307,254.27 3,692,683.05
Total
-----
Prin balance 61,313,675.87 1,019,880,485.25
Loan count 124 2119
Avg loan rate 5.652051% 6.46
Prepay amount 7,299,691.29 97,395,674.39
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees -8,191.37 46,461.74 2,867.77
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 13,987.47 55,125.61
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 96.736818% 100.000000% 1,082,131,999.35
-----------------------------------------------------------------------------
Junior 3.263182% 0.000000% 36,503,095.17
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 16 8,370,927.90
60 to 89 days 3 1,354,469.48
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 19 9,725,397.38
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 104,584,687.19 104,584,687.19
Principal remittance amount 98,801,224.14 98,801,224.14
Interest remittance amount 5,783,463.05 5,783,463.05