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)
Delaware 333-97547-06 61-1430166/0169
(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 2002-10
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 2002-10. The monthly distributions were made pursuant to
the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of October 1, 2002 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 2002-10 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 2002-10 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 2002-10
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-A-1 34,964,325.98 6.000000% 17,662,260.06 174,821.63 17,837,081.69 0.00 0.00
1-A-2 6,842,000.00 6.000000% 0.00 34,210.00 34,210.00 0.00 0.00
1-A-3 5,537,000.00 6.000000% 0.00 27,685.00 27,685.00 0.00 0.00
1-A-4 15,974,000.00 6.000000% 0.00 79,870.00 79,870.00 0.00 0.00
1-A-5 2,526,000.00 6.000000% 1,276,000.00 12,630.00 1,288,630.00 0.00 0.00
1-A-6 1,121,916.67 6.000000% 0.00 5,609.58 5,609.58 0.00 0.00
1-A-7 4,218,000.00 5.500000% 0.00 19,332.50 19,332.50 0.00 0.00
1-A-8 2,862,000.00 5.500000% 0.00 13,117.50 13,117.50 0.00 0.00
1-A-9 3,013,000.00 5.500000% 0.00 13,809.58 13,809.58 0.00 0.00
1-A-10 1,657,000.00 5.500000% 0.00 7,594.58 7,594.58 0.00 0.00
1-A-11 755,000.00 5.500000% 0.00 3,460.42 3,460.42 0.00 0.00
1-A-12 958,000.00 5.500000% 0.00 4,390.83 4,390.83 0.00 0.00
1-A-13 2,000,000.00 6.000000% 0.00 10,000.00 10,000.00 0.00 0.00
1-A-14 4,000,000.00 6.000000% 0.00 20,000.00 20,000.00 0.00 0.00
1-A-15 6,000,000.00 6.000000% 0.00 30,000.00 30,000.00 0.00 0.00
1-A-16 6,000,000.00 6.000000% 0.00 30,000.00 30,000.00 0.00 0.00
1-A-17 24,638,009.76 1.970000% 2,217,981.67 40,447.40 2,258,429.07 0.00 0.00
1-A-18 24,638,009.76 6.530000% 0.00 134,071.84 134,071.84 0.00 0.00
1-A-19 11,755,939.17 5.750000% 1,166,945.35 56,330.54 1,223,275.89 0.00 0.00
1-A-20 0.00 4.750000% 0.00 0.00 0.00 0.00 0.00
1-A-21 44,315,595.43 4.750000% 3,989,412.26 175,415.90 4,164,828.16 0.00 0.00
1-A-22 9,516,387.31 5.750000% 1,020,379.14 45,599.36 1,065,978.49 0.00 0.00
1-A-23 423,703.80 5.750000% 45,430.95 2,030.25 47,461.20 0.00 0.00
1-A-24 797,000.00 5.750000% 0.00 3,818.96 3,818.96 0.00 0.00
1-A-25 2,309,091.00 5.750000% 0.00 11,064.39 11,064.39 0.00 0.00
1-A-26 15,000,000.00 6.000000% 0.00 75,000.00 75,000.00 0.00 0.00
1-A-27 50,915,441.96 3.000000% 572,111.29 127,288.60 699,399.90 0.00 0.00
1-A-28 38,927,625.84 2.750000% 259,683.51 89,209.14 348,892.65 0.00 0.00
1-A-29 8,636,000.00 4.500000% 0.00 32,385.00 32,385.00 0.00 0.00
1-A-30 1,543,074.00 4.750000% 0.00 6,108.00 6,108.00 0.00 0.00
1-A-31 11,356,926.00 5.250000% 0.00 49,686.55 49,686.55 0.00 0.00
1-A-32 75,000,000.00 5.500000% 0.00 343,750.00 343,750.00 0.00 0.00
1-A-33 15,817,000.00 6.000000% 0.00 79,085.00 79,085.00 0.00 0.00
1-A-34 250,000.00 6.000000% 0.00 1,250.00 1,250.00 0.00 0.00
1-A-35 56,693,607.81 6.000000% 0.00 283,468.04 283,468.04 0.00 0.00
Residual 1-A-R 0.00 6.000000% 0.00 5.00 5.00 0.00 0.00
1-A-LR 0.00 6.000000% 0.00 0.00 0.00 0.00 0.00
1-A-WIO 397,245,279.75 0.319488% 0.00 105,762.65 105,762.65 0.00 0.00
2-A-1 62,103,245.43 5.000000% 10,790,280.96 226,398.58 11,016,679.54 0.00 32,364.94
2-A-2 18,927,505.45 5.500000% 6,568,610.43 75,900.65 6,644,511.07 0.00 10,850.42
2-A-3 15,000,000.00 5.500000% 0.00 60,151.07 60,151.07 0.00 8,598.93
2-A-4 3,878,000.00 5.500000% 0.00 15,551.06 15,551.06 0.00 2,223.11
2-A-5 10,532,220.79 1.820000% 1,829,946.58 13,975.93 1,843,922.51 0.00 1,997.94
2-A-6 10,532,220.79 6.680000% 0.00 51,296.27 51,296.27 0.00 7,333.09
2-A-7 1,090,080.79 5.000000% 189,398.77 3,973.91 193,372.68 0.00 568.09
2-A-WIO 112,140,423.83 0.402324% 0.00 32,894.78 32,894.78 0.00 4,702.49
1-A-PO 258,094.58 0.000000% 340.45 0.00 340.45 0.00 0.00
1-SES 0.00 0.000000% 0.00 49,283.58 49,283.58 0.00 39,937.29
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B-1 6,221,066.39 6.000000% 5,981.19 31,105.33 37,086.52 0.00 0.00
1-B-2 2,986,231.20 6.000000% 2,871.09 14,931.16 17,802.24 0.00 0.00
1-B-3 1,492,618.39 6.000000% 1,435.07 7,463.09 8,898.16 0.00 0.00
1-B-4 995,410.40 6.000000% 957.03 4,977.05 5,934.08 0.00 0.00
1-B-5 746,806.40 6.000000% 718.01 3,734.03 4,452.04 0.00 0.00
1-B-6 746,790.90 6.000000% 718.00 3,733.95 4,451.95 0.00 0.00
2-B-1 1,029,094.88 5.500000% 3,891.40 4,126.74 8,018.15 0.00 589.94
2-B-2 294,446.35 5.500000% 1,113.41 1,180.75 2,294.17 0.00 168.79
2-B-3 220,101.09 5.500000% 832.29 882.62 1,714.91 0.00 126.18
2-B-4 73,367.03 5.500000% 277.43 294.21 571.64 0.00 42.06
2-B-5 73,367.03 5.500000% 277.43 294.21 571.64 0.00 42.06
2-B-6 147,652.93 5.500000% 558.31 592.10 1,150.41 0.00 84.64
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 535,324,220.27 - 47,608,412.06 2,751,049.32 50,359,461.38 - 109,629.98
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1-A-1 17,302,065.92 0.00
1-A-2 6,842,000.00 0.00
1-A-3 5,537,000.00 0.00
1-A-4 15,974,000.00 0.00
1-A-5 1,250,000.00 0.00
1-A-6 1,121,916.67 0.00
1-A-7 4,218,000.00 0.00
1-A-8 2,862,000.00 0.00
1-A-9 3,013,000.00 0.00
1-A-10 1,657,000.00 0.00
1-A-11 755,000.00 0.00
1-A-12 958,000.00 0.00
1-A-13 2,000,000.00 0.00
1-A-14 4,000,000.00 0.00
1-A-15 6,000,000.00 0.00
1-A-16 6,000,000.00 0.00
1-A-17 22,420,028.09 0.00
1-A-18 22,420,028.09 0.00
1-A-19 10,588,993.82 0.00
1-A-20 0.00 0.00
1-A-21 40,326,183.17 0.00
1-A-22 8,496,008.17 0.00
1-A-23 378,272.85 0.00
1-A-24 797,000.00 0.00
1-A-25 2,309,091.00 0.00
1-A-26 15,000,000.00 0.00
1-A-27 50,343,330.67 0.00
1-A-28 38,667,942.33 0.00
1-A-29 8,636,000.00 0.00
1-A-30 1,543,074.00 0.00
1-A-31 11,356,926.00 0.00
1-A-32 75,000,000.00 0.00
1-A-33 15,817,000.00 0.00
1-A-34 250,000.00 0.00
1-A-35 56,266,890.26 0.00
Residual 1-A-R 0.00 0.00
1-A-LR 0.00 0.00
1-A-WIO 369,049,635.06 0.00
2-A-1 51,312,964.47 32,364.94
2-A-2 12,358,895.02 10,850.42
2-A-3 15,000,000.00 8,598.93
2-A-4 3,878,000.00 2,223.11
2-A-5 8,702,274.21 1,997.94
2-A-6 8,702,274.21 7,333.09
2-A-7 900,682.03 568.09
2-A-WIO 92,760,557.28 4,702.49
1-A-PO 257,754.14 0.00
1-SES 0.00 39,937.29
- --------------------------------------------------------------------------------
Subordinate 1-B-1 6,215,085.20 0.00
1-B-2 2,983,360.11 0.00
1-B-3 1,491,183.33 0.00
1-B-4 994,453.37 0.00
1-B-5 746,088.39 0.00
1-B-6 746,072.90 0.00
2-B-1 1,025,203.47 589.94
2-B-2 293,332.93 168.79
2-B-3 219,268.80 126.18
2-B-4 73,089.60 42.06
2-B-5 73,089.60 42.06
2-B-6 147,094.62 84.64
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 487,715,808.21 109,629.98
- --------------------------------------------------------------------------------
Payment Date: 05/25/03
------------------------------------------------------------
MORTGAGE PASS-THROUGH CERTIFICATES
Series 2002-10
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-A-1 34,964,325.98 6.000000% 06050HYJ1 212.752175 2.105828 208.413427
1-A-2 6,842,000.00 6.000000% 06050HYK8 0.000000 5.000000 1,000.000000
1-A-3 5,537,000.00 6.000000% 06050HYL6 0.000000 5.000000 1,000.000000
1-A-4 15,974,000.00 6.000000% 06050HYM4 0.000000 5.000000 1,000.000000
1-A-5 2,526,000.00 6.000000% 06050HYN2 212.666667 2.105000 208.333333
1-A-6 1,121,916.67 6.000000% 06050HYP7 0.000000 5.000000 1,000.000000
1-A-7 4,218,000.00 5.500000% 06050HYQ5 0.000000 4.583333 1,000.000000
1-A-8 2,862,000.00 5.500000% 06050HYR3 0.000000 4.583333 1,000.000000
1-A-9 3,013,000.00 5.500000% 06050HYS1 0.000000 4.583333 1,000.000000
1-A-10 1,657,000.00 5.500000% 06050HYT9 0.000000 4.583333 1,000.000000
1-A-11 755,000.00 5.500000% 06050HYU6 0.000000 4.583333 1,000.000000
1-A-12 958,000.00 5.500000% 06050HYV4 0.000000 4.583333 1,000.000000
1-A-13 2,000,000.00 6.000000% 06050HYW2 0.000000 5.000000 1,000.000000
1-A-14 4,000,000.00 6.000000% 06050HYX0 0.000000 5.000000 1,000.000000
1-A-15 6,000,000.00 6.000000% 06050HYY8 0.000000 5.000000 1,000.000000
1-A-16 6,000,000.00 6.000000% 06050HYZ5 0.000000 5.000000 1,000.000000
1-A-17 24,638,009.76 1.970000% 06050HZA9 72.003253 1.313061 727.830617
1-A-18 24,638,009.76 6.530000% 06050HZB7 0.000000 4.352429 727.830617
1-A-19 11,755,939.17 5.750000% 06050HZC5 77.796357 3.755369 705.932921
1-A-20 0.00 4.750000% 06050HZD3 0.000000 0.000000 0.000000
1-A-21 44,315,595.43 4.750000% 06050HZE1 79.788245 3.508318 806.523663
1-A-22 9,516,387.31 5.750000% 06050HZF8 82.601727 3.691359 687.768815
1-A-23 423,703.80 5.750000% 06050HZG6 82.601727 3.691359 687.768815
1-A-24 797,000.00 5.750000% 06050HZH4 0.000000 4.791667 1,000.000000
1-A-25 2,309,091.00 5.750000% 06050HZJ0 0.000000 4.791667 1,000.000000
1-A-26 15,000,000.00 6.000000% 06050HZK7 0.000000 5.000000 1,000.000000
1-A-27 50,915,441.96 3.000000% 06050HZL5 10.738228 2.389140 944.917802
1-A-28 38,927,625.84 2.750000% 06050HZM3 6.492088 2.230229 966.698558
1-A-29 8,636,000.00 4.500000% 06050HZN1 0.000000 3.750000 1,000.000000
1-A-30 1,543,074.00 4.750000% 06050HZP6 0.000000 3.958333 1,000.000000
1-A-31 11,356,926.00 5.250000% 06050HZQ4 0.000000 4.375000 1,000.000000
1-A-32 75,000,000.00 5.500000% 06050HZR2 0.000000 4.583333 1,000.000000
1-A-33 15,817,000.00 6.000000% 06050HZS0 0.000000 5.000000 1,000.000000
1-A-34 250,000.00 6.000000% 06050HZT8 0.000000 5.000000 1,000.000000
1-A-35 56,693,607.81 6.000000% 06050HZU5 0.000000 4.849275 962.555169
Residual 1-A-R 0.00 6.000000% 06050HZV3 0.000000 99.924887 0.000000
1-A-LR 0.00 6.000000% 06050HZW1 0.000000 0.000000 0.000000
1-A-WIO397,245,279.75 0.319488% 06050HZX9 0.000000 0.223814 780.981086
2-A-1 62,103,245.43 5.000000% 06050HZY7 130.619838 2.740628 621.160019
2-A-2 18,927,505.45 5.500000% 06050HZZ4 209.124815 2.416448 393.470074
2-A-3 15,000,000.00 5.500000% 06050HA24 0.000000 4.010071 1,000.000000
2-A-4 3,878,000.00 5.500000% 06050HA32 0.000000 4.010071 1,000.000000
2-A-5 10,532,220.79 1.820000% 06050HA40 130.619838 0.997589 621.160019
2-A-6 10,532,220.79 6.680000% 06050HA57 0.000000 3.661479 621.160019
2-A-7 1,090,080.79 5.000000% 06050HA65 130.619838 2.740628 621.160019
2-A-WIO112,140,423.83 0.402324% 06050HA73 0.000000 0.220807 622.656557
1-A-PO 258,094.58 0.000000% 06050HA81 1.179507 0.000000 893.009095
1-SES 0.00 0.000000% 06050HC55 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B-1 6,221,066.39 6.000000% 06050HA99 0.956073 4.972080 993.459910
1-B-2 2,986,231.20 6.000000% 06050HB23 0.956073 4.972080 993.459910
1-B-3 1,492,618.39 6.000000% 06050HB31 0.956073 4.972080 993.459910
1-B-4 995,410.40 6.000000% 06050HB72 0.956073 4.972080 993.459910
1-B-5 746,806.40 6.000000% 06050HB80 0.956073 4.972080 993.459910
1-B-6 746,790.90 6.000000% 06050HB98 0.956073 4.972080 993.459910
2-B-1 1,029,094.88 5.500000% 06050HB49 3.699051 3.922760 974.528018
2-B-2 294,446.35 5.500000% 06050HB56 3.699051 3.922760 974.528018
2-B-3 220,101.09 5.500000% 06050HB64 3.699051 3.922760 974.528018
2-B-4 73,367.03 5.500000% 06050HC22 3.699051 3.922760 974.528018
2-B-5 73,367.03 5.500000% 06050HC30 3.699051 3.922760 974.528018
2-B-6 147,652.93 5.500000% 06050HC48 3.698938 3.922764 974.529067
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 535,324,220.27 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
MORTGAGE PASS-THROUGH CERTIFICATES
Series 2002-10
Bank of America, N.A., Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Total
-----
Prin balance 393,731,726.38 93,984,562.23 487,716,288.61
Loan count 847 196 1043
Avg loan rate 6.550118% 6.150928% 6.47
Prepay amount 27,818,029.87 18,956,495.53 46,774,525.40
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Total
-----
Master serv fees 49,283.58 0.00 49,283.58
Sub servicer fees 0.00 0.00 0.00
Trustee fees 1,054.89 283.42 1,338.31
Agg advances N/A N/A N/A
Adv this period 0.00 0.00 0.00
- --------------------------------------------------------------------------------
LOSSES & INSURANCE COVERAGES
- --------------------------------------------------------------------------------
Total
-----
Realized losses 0.00 0.00 0.00
Cumulative losses 0.00 0.00 0.00
Coverage Amounts Total
- ---------------- -----
Bankruptcy 0.00 0.00 0.00
Fraud 0.00 0.00 0.00
Special Hazard 0.00 0.00 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 97.196489% 100.000000% 520,297,267.29
-----------------------------------------------------------------------------
Junior 2.803511% 0.000000% 15,007,322.33
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 10 3,871,297.84
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 10 3,871,297.84
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 50,359,461.38 50,359,461.38
Principal remittance amount 47,608,412.06 47,608,412.06
Interest remittance amount 2,751,049.32 2,751,049.32