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): May 25, 2003
Bank of America Mortgage Securities, Inc.
(Depositor)
North Carolina 333-56234-08 13-4186194/6195
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
organization)
101 N. Tryon St. 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
Bank of America Mortgage Securities, Inc.
Mortgage Pass-Through Certificates
Series 2001-8 trust
On May 25, 2003, The Bank of New York, as Trustee for Mortgage Pass-Through
Certificates made a monthly distribution of principal and/or interest to the
Holders of the Series 2001-8 trust. The monthly distributions were made pursuant
to the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of July 1, 2001 by and among Bank of America Mortgage
Securities, Inc. as Depositor, EquiCredit Corporation of America, as Transferor
and Initial Servicer, Bank of America, N.A., as Advancing Party, Fairbanks
Capital Corp., as Expected Successor Servicer and The Bank of New York, as
Trustee.
All capitalized terms used, but not defined herein, shall have the meanings
assigned to them in the Pooling and Servicing Agreement.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
99 Report to Holders of Series 2001-8 trust relating to the
Distribution Date of May 25, 2003 prepared by the Trustee
pursuant to the terms of the Pooling and Servicing
Agreement.
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: May 25, 2003
By: /s/ Diane Pickett
------------------------------
Name: Diane Pickett
Vice President
The Bank of New York,
as Trustee
EXHIBIT INDEX
Exhibit
99 Report to Holders of Series 2001-8 trust relating to the
Distribution Date of May 25, 2003 prepared by the Trustee
pursuant to the terms of the Pooling and Servicing
Agreement.
99 Monthly Remittance Statement dated May 25, 2003
Payment Date: 05/25/03
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2001-8 trust
Bank of America, NA, 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 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A2 7,982,702.70 6.750000% 5,828,175.45 43,766.52 5,871,941.97 0.00 1,136.18
A3 65,380,837.34 6.750000% 29,252,819.06 358,461.55 29,611,280.61 0.00 9,305.66
A4 8,331,000.00 6.750000% 0.00 45,676.12 45,676.12 0.00 1,185.75
A5 14,089,450.79 6.750000% 0.00 0.00 0.00 0.00 2,005.35
A6 8,436,549.21 6.750000% 77,247.81 46,254.81 123,502.62 0.00 1,200.77
A7 0.00 6.000000% 0.00 0.00 0.00 0.00 0.00
A8 0.00 2.170000% 0.00 0.00 0.00 0.00 0.00
A9 0.00 24.415714% 0.00 0.00 0.00 0.00 0.00
A10 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A11 1,540,147.68 6.750000% 1,540,147.68 8,444.12 1,548,591.80 0.00 219.21
A12 1,450,000.00 6.750000% 1,450,000.00 7,949.87 1,457,949.87 0.00 206.38
A13 2,213,000.00 6.750000% 808,673.18 12,133.15 820,806.33 0.00 314.98
A14 9,474,000.00 6.750000% 0.00 51,942.82 51,942.82 0.00 1,348.43
A15 0.00 5.750000% 0.00 0.00 0.00 0.00 0.00
A16 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
A17 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A18 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
A19 72,000,000.00 6.750000% 0.00 394,752.24 394,752.24 0.00 10,247.76
Residual AR 0.00 6.750000% 0.00 0.22 0.22 0.00 0.00
ALR 0.00 6.750000% 0.00 0.00 0.00 0.00 0.00
2A1 73,376,902.74 6.500000% 13,046,523.64 389,197.29 13,435,720.93 0.00 8,260.93
3A1 8,772,192.78 6.750000% 5,869,507.37 48,850.35 5,918,357.72 0.00 493.24
3A2 9,814,884.06 6.750000% 0.00 0.00 0.00 0.00 551.87
3A3 14,500,000.00 6.750000% 0.00 80,747.20 80,747.20 0.00 815.30
APO 1,937,188.84 0.000000% 340,089.09 0.00 340,089.09 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,040,897.22 6.750000% 11,418.42 66,016.27 77,434.69 0.00 1,713.78
B2 5,312,564.81 6.750000% 5,037.92 29,127.04 34,164.96 0.00 756.14
B3 2,833,498.81 6.750000% 2,687.02 15,535.14 18,222.15 0.00 403.29
B4 1,771,182.21 6.750000% 1,679.62 9,710.81 11,390.43 0.00 252.09
B5 1,416,749.40 6.750000% 1,343.51 7,767.57 9,111.08 0.00 201.65
B6 1,319,465.34 6.750000% 1,251.25 7,234.19 8,485.45 0.00 187.80
2B1 1,830,719.74 6.500000% 7,427.75 9,710.29 17,138.04 0.00 206.11
2B2 985,772.17 6.500000% 3,999.56 5,228.62 9,228.18 0.00 110.98
2B3 563,298.38 6.500000% 2,285.46 2,987.78 5,273.24 0.00 63.42
2B4 281,649.19 6.500000% 1,142.73 1,493.89 2,636.62 0.00 31.71
2B5 281,649.19 6.500000% 1,142.73 1,493.89 2,636.62 0.00 31.71
2B6 282,303.89 6.500000% 1,145.35 1,497.36 2,642.71 0.04 31.78
3B1 2,790,231.98 6.750000% 2,668.61 15,538.17 18,206.77 0.00 156.89
3B2 787,391.29 6.750000% 753.07 4,384.80 5,137.87 0.00 44.27
3B3 430,021.68 6.750000% 411.28 2,394.69 2,805.97 0.00 24.18
3B4 430,021.68 6.750000% 411.28 2,394.69 2,805.97 0.00 24.18
3B5 286,681.12 6.750000% 274.18 1,596.46 1,870.65 0.00 16.12
3B6 286,924.55 6.750000% 274.42 1,597.82 1,872.24 0.00 16.13
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 333,229,878.79 - 58,258,537.42 1,673,885.76 59,932,423.18 0.04 41,564.04
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 0.00 0.00
A2 2,154,527.25 1,136.18
A3 36,128,018.28 9,305.66
A4 8,331,000.00 1,185.75
A5 14,166,698.60 2,005.35
A6 8,359,301.40 1,200.77
A7 0.00 0.00
A8 0.00 0.00
A9 0.00 0.00
A10 0.00 0.00
A11 0.00 219.21
A12 0.00 206.38
A13 1,404,326.82 314.98
A14 9,474,000.00 1,348.43
A15 0.00 0.00
A16 0.00 0.00
A17 0.00 0.00
A18 0.00 0.00
A19 72,000,000.00 10,247.76
Residual AR 0.00 0.00
ALR 0.00 0.00
2A1 60,330,379.10 8,260.93
3A1 2,902,685.41 493.24
3A2 9,869,540.91 551.87
3A3 14,500,000.00 815.30
APO 1,597,099.75 0.00
- --------------------------------------------------------------------------------
Subordinate B1 12,029,478.80 1,713.78
B2 5,307,526.89 756.14
B3 2,830,811.79 403.29
B4 1,769,502.59 252.09
B5 1,415,405.90 201.65
B6 1,318,214.08 187.80
2B1 1,823,291.99 206.11
2B2 981,772.61 110.98
2B3 561,012.92 63.42
2B4 280,506.46 31.71
2B5 280,506.46 31.71
2B6 281,158.51 31.78
3B1 2,787,563.37 156.89
3B2 786,638.22 44.27
3B3 429,610.40 24.18
3B4 429,610.40 24.18
3B5 286,406.93 16.12
3B6 286,650.14 16.13
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 275,103,245.99 41,564.04
- --------------------------------------------------------------------------------
Payment Date: 05/25/03
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2001-8 trust
Bank of America, NA, 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 0.00 6.750000% 060506P22 0.000000 0.000000 0.000000
A2 7,982,702.70 6.750000% 060506P30 69.966092 0.525408 25.864673
A3 65,380,837.34 6.750000% 060506P48 417.897415 5.120879 516.114547
A4 8,331,000.00 6.750000% 060506P55 0.000000 5.482670 1,000.000000
A5 14,089,450.79 6.750000% 060506P63 0.000000 0.000000 1,130.983443
A6 8,436,549.21 6.750000% 060506P71 7.724781 4.625481 835.930140
A7 0.00 6.000000% 060506P89 0.000000 0.000000 0.000000
A8 0.00 2.170000% 060506P97 0.000000 0.000000 0.000000
A9 0.00 24.415714% 060506Q21 0.000000 0.000000 0.000000
A10 0.00 6.750000% 060506Q39 0.000000 0.000000 0.000000
A11 1,540,147.68 6.750000% 060506Q47 719.695176 3.945851 0.000000
A12 1,450,000.00 6.750000% 060506Q54 1,000.000000 5.482670 0.000000
A13 2,213,000.00 6.750000% 060506Q62 365.419424 5.482670 634.580576
A14 9,474,000.00 6.750000% 060506Q70 0.000000 5.482670 1,000.000000
A15 0.00 5.750000% 060506Q88 0.000000 0.000000 0.000000
A16 0.00 6.500000% 060506Q96 0.000000 0.000000 0.000000
A17 0.00 6.750000% 060506R20 0.000000 0.000000 0.000000
A18 0.00 6.750000% 060506R38 0.000000 0.000000 0.000000
A19 72,000,000.00 6.750000% 060506R46 0.000000 5.482670 1,000.000000
Residual AR 0.00 6.750000% 060506R53 0.000000 4.477037 0.000000
ALR 0.00 6.750000% 060506R61 0.000000 0.000000 0.000000
2A1 73,376,902.74 6.500000% 060506R79 43.660142 1.302447 201.895386
3A1 8,772,192.78 6.750000% 060506R87 50.137162 0.417278 24.794654
3A2 9,814,884.06 6.750000% 060506R95 0.000000 0.000000 1,130.661119
3A3 14,500,000.00 6.750000% 060506S29 0.000000 5.568772 1,000.000000
APO 1,937,188.84 0.000000% 060506S37 100.826983 0.000000 473.495784
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 12,040,897.22 6.750000% 060506S45 0.931052 5.382931 980.877267
B2 5,312,564.81 6.750000% 060506S52 0.931052 5.382931 980.877267
B3 2,833,498.81 6.750000% 060506S60 0.931052 5.382931 980.877267
B4 1,771,182.21 6.750000% 060506T51 0.931052 5.382931 980.877267
B5 1,416,749.40 6.750000% 060506T69 0.931052 5.382931 980.877267
B6 1,319,465.34 6.750000% 060506T77 0.867128 5.013353 913.532733
2B1 1,830,719.74 6.500000% 060506S78 3.758983 4.914116 922.718621
2B2 985,772.17 6.500000% 060506S86 3.758983 4.914116 922.718621
2B3 563,298.38 6.500000% 060506S94 3.758983 4.914116 922.718621
2B4 281,649.19 6.500000% 060506T85 3.758983 4.914116 922.718621
2B5 281,649.19 6.500000% 060506T93 3.758983 4.914116 922.718621
2B6 282,303.89 6.500000% 060506U26 3.758853 4.914116 922.718791
3B1 2,790,231.98 6.750000% 060506T28 0.938989 5.467335 980.845663
3B2 787,391.29 6.750000% 060506T36 0.938989 5.467335 980.845663
3B3 430,021.68 6.750000% 060506T44 0.938989 5.467335 980.845663
3B4 430,021.68 6.750000% 060506U34 0.938989 5.467335 980.845663
3B5 286,681.12 6.750000% 060506U42 0.938989 5.467335 980.845663
3B6 286,924.55 6.750000% 060506U59 0.938989 5.467336 980.845870
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 333,229,878.79 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2001-8 trust
Bank of America, NA, Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 177,876,591.99 64,778,020.09 32,448,633.91
Loan count 449 161 82
Avg loan rate 7.158201% 6.914885% 7.210002%
Prepay amount 38,949,702.16 12,797,113.14 5,821,214.24
Total
-----
Prin balance 275,103,245.99
Loan count 692
Avg loan rate 7.11
Prepay amount 57,568,029.54
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 5,666.21 3,400.81 5,668.58
Sub servicer fees 0.00 0.00 0.00
Trustee fees 361.72 129.82 63.84
Agg advances N/A N/A N/A
Adv this period 0.00 0.00 0.00
Total
-----
Master serv fees 14,735.60
Sub servicer fees 0.00
Trustee fees 555.38
Agg advances N/A
Adv this period 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Realized losses 0.00 0.00 0.00
Cumulative losses 101,796.81 0.00 0.00
Total
-----
Realized losses 0.00
Cumulative losses 101,796.81
Coverage Amounts
- ----------------
Bankruptcy 0.00 0.00 0.00
Fraud 0.00 0.00 0.00
Special Hazard 3,332,298.79 0.00 0.00
Total
-----
Bankruptcy 0.00
Fraud 0.00
Special Hazard 3,332,298.79
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 89.829759% 100.000000% 299,298,856.13
-----------------------------------------------------------------------------
Junior 10.170241% 0.000000% 33,885,668.48
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 3,492,817.72
60 to 89 days 2 715,468.84
90 or more 2 962,887.58
Foreclosure 3 934,130.94
Totals: 17 6,105,305.08
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 59,932,423.18 59,932,423.18
Principal remittance amount 58,258,537.42 58,258,537.42
Interest remittance amount 1,673,885.76 1,673,885.76