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 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 May 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 May
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: May 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 May 20, 2003
Payment Date: 05/20/03
------------------------------------------------------------
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 218,079,415.19 6.451452% 33,616,566.13 1,165,104.29 34,781,670.41 0.00 7,336.50
A2 5,862,349.87 6.000000% 903,671.13 29,128.33 932,799.46 0.00 183.42
A3 16,805,402.96 3.500000% 2,590,523.91 48,709.04 2,639,232.96 0.00 306.71
A4 133,095,274.05 5.000000% 20,516,407.19 551,093.48 21,067,500.67 0.00 3,470.16
A5 29,311,749.35 4.500000% 4,518,355.66 109,231.25 4,627,586.91 0.00 687.81
A6 97,705,831.18 4.200000% 15,061,185.54 339,830.54 15,401,016.08 0.00 2,139.87
A7 322,429.24 4.500000% 49,701.91 1,201.54 50,903.46 0.00 7.57
AIO 283,103,036.66 1.848225% 0.00 433,303.27 433,303.27 0.00 2,728.45
Residual AR 0.00 6.451452% 0.00 0.07 0.07 0.00 0.00
AMR 0.00 6.451452% 0.00 0.00 0.00 0.00 0.00
ALR 0.00 6.451452% 0.00 0.00 0.00 0.00 0.00
2A1 277,365,888.24 5.776431% 34,226,898.78 1,326,799.46 35,553,698.24 0.00 8,354.68
2A2 11,094,533.53 5.776431% 1,369,063.36 53,071.49 1,422,134.85 0.00 334.18
3A1 39,908,790.94 7.144076% 3,570,649.48 236,106.14 3,806,755.62 0.00 1,486.73
4A1 52,473,888.38 4.698000% 7,332,453.93 204,149.77 7,536,603.70 0.00 1,285.50
4IO 52,473,888.38 0.576328% 0.00 25,044.10 25,044.10 0.00 157.70
BIO 0.00 0.000000% 0.00 25,662.88 25,662.88 0.00 161.60
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,229,044.54 4.558029% 1,293,539.71 68,807.16 1,362,346.87 0.00 433.27
B2 7,674,242.96 6.258029% 544,567.10 39,770.93 584,338.04 0.00 250.43
B3 3,837,121.48 6.258029% 272,283.55 19,885.47 292,169.02 0.00 125.22
B4 1,919,054.83 6.258029% 136,176.84 9,945.29 146,122.13 0.00 62.62
B5 1,918,066.65 6.258029% 136,106.71 9,940.17 146,046.89 0.00 62.59
B6 2,878,871.69 6.258029% 204,285.79 14,919.44 219,205.23 0.00 93.95
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 918,481,955.09 - 126,342,436.74 4,711,704.12 131,054,140.86 - 29,668.96
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior A1 184,462,849.06 7,336.50
A2 4,958,678.74 183.42
A3 14,214,879.05 306.71
A4 112,578,866.86 3,470.16
A5 24,793,393.69 687.81
A6 82,644,645.64 2,139.87
A7 272,727.33 7.57
AIO 239,463,191.31 2,728.45
Residual AR 0.00 0.00
AMR 0.00 0.00
ALR 0.00 0.00
2A1 243,138,989.46 8,354.68
2A2 9,725,470.16 334.18
3A1 36,338,141.46 1,486.73
4A1 45,141,434.45 1,285.50
4IO 45,141,434.45 157.70
BIO 0.00 161.60
- --------------------------------------------------------------------------------
Subordinate B1 16,935,504.83 433.27
B2 7,129,675.86 250.43
B3 3,564,837.93 125.22
B4 1,782,878.00 62.62
B5 1,781,959.93 62.59
B6 2,674,585.90 93.95
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 792,139,518.35 29,668.96
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Payment Date: 05/20/03
------------------------------------------------------------
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 218,079,415.19 6.451452% 06050HXK9 60.244742 2.088001 330.578583
A2 5,862,349.87 6.000000% 06050HXL7 60.244742 1.941889 330.578583
A3 16,805,402.96 3.500000% 06050HXM5 60.244742 1.132768 330.578583
A4 133,095,274.05 5.000000% 06050HXN3 60.244742 1.618241 330.578583
A5 29,311,749.35 4.500000% 06050HXP8 60.244742 1.456417 330.578583
A6 97,705,831.18 4.200000% 06050HXQ6 60.244742 1.359322 330.578583
A7 322,429.24 4.500000% 06050HXR4 60.244742 1.456417 330.578583
AIO 283,103,036.66 1.848225% 06050HXS2 0.000000 0.598175 330.578583
Residual AR 0.00 6.451452% 06050HXT0 0.000000 1.316632 0.000000
AMR 0.00 6.451452% 06050HXU7 0.000000 0.000000 0.000000
ALR 0.00 6.451452% 06050HXV5 0.000000 0.000000 0.000000
2A1 277,365,888.24 5.776431% 06050HXW3 78.668239 3.049560 558.838715
2A2 11,094,533.53 5.776431% 06050HXX1 78.668239 3.049560 558.838715
3A1 39,908,790.94 7.144076% 06050HXY9 49.669618 3.284361 505.482716
4A1 52,473,888.38 4.698000% 06050HXZ6 74.899680 2.085353 461.111520
4IO 52,473,888.38 0.576328% 06050HYA0 0.000000 0.255821 461.111520
BIO 0.00 0.000000% 06050HYB8 0.000000 0.000000 0.000000
- ------------------------------------------------------------------------------------------------------------------------
Subordinate B1 18,229,044.54 4.558029% 06050HYC6 70.121955 3.729992 918.062820
B2 7,674,242.96 6.258029% 06050HYD4 70.121955 5.121160 918.062820
B3 3,837,121.48 6.258029% 06050HYE2 70.121955 5.121160 918.062820
B4 1,919,054.83 6.258029% 06050HYF9 70.121955 5.121160 918.062820
B5 1,918,066.65 6.258029% 06050HYG7 70.121955 5.121160 918.062820
B6 2,878,871.69 6.258029% 06050HYH5 70.121971 5.121162 918.063031
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 918,481,955.09 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
BANK OF AMERICA MORTGAGE SECURITIES, INC.
MORTGAGE PASS-THROUGH CERTIFICATES, Series 2002-K Trust
Bank of America, NA, as Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 446,667,476.49 260,921,091.24 37,658,400.00
Loan count 937 530 81
Avg loan rate 6.701452% 6.026431% 7.394076%
Prepay amount 78,412,786.02 35,789,841.18 3,585,206.10
Total
-----
Prin balance 46,892,549.95 792,139,517.68
Loan count 96 1644
Avg loan rate 5.649328% 6.45
Prepay amount 7,396,662.29 125,184,495.59
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FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 109,540.06 61,884.12 8,602.21
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 16,986.03 197,012.42
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 96.302039% 100.000000% 882,025,552.94
-----------------------------------------------------------------------------
Junior 3.697961% 0.000000% 33,869,442.44
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- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 12 6,946,947.15
60 to 89 days 1 593,103.80
90 or more 1 789,353.13
Foreclosure 0 0.00
Totals: 14 8,329,404.08
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 131,054,140.86 131,054,140.86
Principal remittance amount 126,342,436.74 126,342,436.74
Interest remittance amount 4,711,704.12 4,711,704.12