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): November 25, 2003
Bank of America Mortgage Securities, Inc.
(Depositor)
North Carolina 333-74544-07 03-0414271/Man
(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 2002-3
On November 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 2002-3. The monthly distributions were made pursuant to
the terms of the Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of March 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 2002-3 relating to the
Distribution Date of November 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: November 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 2002-3 relating to the
Distribution Date of November 25, 2003 prepared by the
Trustee pursuant to the terms of the Pooling and Servicing
Agreement.
99 Monthly Remittance Statement dated November 25, 2003
Payment Date: 11/25/03
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2002-3
Bank of America, NA, 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 0.00 1.620000% 0.00 0.00 0.00 0.00 0.00
1-A-2 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
1-A-3 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
1-A-4 172,446.35 6.500000% 172,446.35 934.08 173,380.43 0.00 0.00
1-A-5 2,868,000.00 6.500000% 1,225,713.32 15,535.00 1,241,248.32 0.00 0.00
1-A-6 0.00 6.250000% 0.00 0.00 0.00 0.00 0.00
1-A-7 0.00 6.880000% 0.00 0.00 0.00 0.00 0.00
1-A-8 3,262,099.01 6.500000% 1,500,087.41 17,669.70 1,517,757.11 0.00 0.00
1-A-9 13,260,000.00 6.500000% 0.00 71,825.00 71,825.00 0.00 0.00
1-A-10 24,800,000.00 6.500000% 0.00 134,333.33 134,333.33 0.00 0.00
1-A-11 155,000.00 6.500000% 0.00 839.58 839.58 0.00 0.00
Residual 1-A-R 0.00 6.500000% 0.00 0.03 0.03 0.00 0.00
1-A-LR 0.00 6.500000% 0.00 0.00 0.00 0.00 0.00
2-A-1 26,839,736.98 6.500000% 3,158,137.72 145,381.91 3,303,519.62 0.00 0.00
3-A-1 20,045,158.67 6.000000% 2,483,130.01 100,225.79 2,583,355.80 0.00 0.00
1-A-PO 821,876.23 0.000000% 14,626.87 0.00 14,626.87 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B-1 3,050,365.39 6.500000% 2,987.09 16,522.81 19,509.90 0.00 0.00
1-B-2 1,464,725.89 6.500000% 1,434.34 7,933.93 9,368.27 0.00 0.00
1-B-3 854,259.59 6.500000% 836.54 4,627.24 5,463.78 0.00 0.00
1-B-4 487,586.60 6.500000% 477.47 2,641.09 3,118.57 0.00 0.00
1-B-5 366,672.99 6.500000% 359.07 1,986.15 2,345.21 0.00 0.00
1-B-6 488,250.93 6.500000% 478.11 2,644.69 3,122.80 0.00 0.00
2-B-1 1,418,258.74 6.500000% 1,416.44 7,682.23 9,098.68 0.00 0.00
2-B-2 1,193,185.11 6.500000% 1,191.66 6,463.09 7,654.74 0.00 0.00
2-B-3 672,272.33 6.500000% 671.41 3,641.48 4,312.89 0.00 0.00
2-B-4 297,804.85 6.500000% 297.42 1,613.11 1,910.53 0.00 0.00
2-B-5 224,090.78 6.500000% 223.80 1,213.83 1,437.63 0.00 0.00
2-B-6 299,221.72 6.500000% 298.84 1,620.78 1,919.62 0.00 0.00
3-B-1 720,003.74 6.000000% 2,865.57 3,600.02 6,465.59 0.00 0.00
3-B-2 256,810.67 6.000000% 1,022.09 1,284.05 2,306.14 0.00 0.00
3-B-3 155,020.26 6.000000% 616.97 775.10 1,392.07 0.00 0.00
3-B-4 102,724.27 6.000000% 408.84 513.62 922.46 0.00 0.00
3-B-5 102,724.27 6.000000% 408.84 513.62 922.46 0.00 0.00
3-B-6 103,296.89 6.000000% 411.10 516.48 927.58 0.00 0.00
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
Totals - - 104,481,592.26 - 8,570,547.27 552,537.76 9,123,085.03 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Class Information
- --------------------------------------------------------------------------------
Ending Cert. Unpaid
Type Class Code Name Notional Bal. Interest
- --------------------------------------------------------------------------------
Senior 1-A-1 0.00 0.00
1-A-2 0.00 0.00
1-A-3 0.00 0.00
1-A-4 0.00 0.00
1-A-5 1,642,286.68 0.00
1-A-6 0.00 0.00
1-A-7 0.00 0.00
1-A-8 1,762,011.60 0.00
1-A-9 13,260,000.00 0.00
1-A-10 24,800,000.00 0.00
1-A-11 155,000.00 0.00
Residual 1-A-R 0.00 0.00
1-A-LR 0.00 0.00
2-A-1 23,681,599.26 0.00
3-A-1 17,562,028.67 0.00
1-A-PO 807,249.36 0.00
- --------------------------------------------------------------------------------
Subordinate 1-B-1 3,047,378.30 0.00
1-B-2 1,463,291.55 0.00
1-B-3 853,423.06 0.00
1-B-4 487,109.13 0.00
1-B-5 366,313.92 0.00
1-B-6 487,772.82 0.00
2-B-1 1,416,842.30 0.00
2-B-2 1,191,993.45 0.00
2-B-3 671,600.92 0.00
2-B-4 297,507.43 0.00
2-B-5 223,866.97 0.00
2-B-6 298,922.89 0.00
3-B-1 717,138.17 0.00
3-B-2 255,788.58 0.00
3-B-3 154,403.29 0.00
3-B-4 102,315.43 0.00
3-B-5 102,315.43 0.00
3-B-6 102,885.79 0.00
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Totals - - 95,911,045.00 -
- --------------------------------------------------------------------------------
Payment Date: 11/25/03
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2002-3
Bank of America, NA, 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 0.00 1.620000% 06050HEE4 0.000000 0.000000 0.000000
1-A-2 0.00 6.500000% 06050HEF1 0.000000 0.000000 0.000000
1-A-3 0.00 6.500000% 06050HEG9 0.000000 0.000000 0.000000
1-A-4 172,446.35 6.500000% 06050HEH7 53.721603 0.290992 0.000000
1-A-5 2,868,000.00 6.500000% 06050HEJ3 427.375636 5.416667 572.624364
1-A-6 0.00 6.250000% 06050HEK0 0.000000 0.000000 0.000000
1-A-7 0.00 6.880000% 06050HEL8 0.000000 0.000000 0.000000
1-A-8 3,262,099.01 6.500000% 06050HEM6 30.001748 0.353394 35.240232
1-A-9 13,260,000.00 6.500000% 06050HEN4 0.000000 5.416667 1,000.000000
1-A-10 24,800,000.00 6.500000% 06050HEP9 0.000000 5.416667 1,000.000000
1-A-11 155,000.00 6.500000% 06050HFS2 0.000000 5.416667 1,000.000000
Residual 1-A-R 0.00 6.500000% 06050HEQ7 0.000000 0.509531 0.000000
1-A-LR 0.00 6.500000% 06050HER5 0.000000 0.000000 0.000000
2-A-1 26,839,736.98 6.500000% 06050HES3 21.456343 0.987723 160.892453
3-A-1 20,045,158.67 6.000000% 06050HET1 22.859234 0.922660 161.672776
1-A-PO 821,876.23 0.000000% 06050HEU8 9.463242 0.000000 522.271525
- ------------------------------------------------------------------------------------------------------------------------
Subordinate 1-B-1 3,050,365.39 6.500000% 06050HEV6 0.962646 5.324787 982.074863
1-B-2 1,464,725.89 6.500000% 06050HEW4 0.962646 5.324787 982.074863
1-B-3 854,259.59 6.500000% 06050HEX2 0.962646 5.324787 982.074863
1-B-4 487,586.60 6.500000% 06050HFH6 0.962646 5.324787 982.074863
1-B-5 366,672.99 6.500000% 06050HFJ2 0.962646 5.324787 982.074863
1-B-6 488,250.93 6.500000% 06050HFK9 0.962623 5.324792 982.075868
2-B-1 1,418,258.74 6.500000% 06050HEY0 0.981596 5.323794 981.872693
2-B-2 1,193,185.11 6.500000% 06050HEZ7 0.981596 5.323794 981.872693
2-B-3 672,272.33 6.500000% 06050HFA1 0.981596 5.323794 981.872693
2-B-4 297,804.85 6.500000% 06050HFL7 0.981596 5.323794 981.872693
2-B-5 224,090.78 6.500000% 06050HFM5 0.981596 5.323794 981.872693
2-B-6 299,221.72 6.500000% 06050HFN3 0.981597 5.323796 981.873055
3-B-1 720,003.74 6.000000% 06050HFB9 3.716693 4.669285 930.140303
3-B-2 256,810.67 6.000000% 06050HFC7 3.716693 4.669285 930.140303
3-B-3 155,020.26 6.000000% 06050HFD5 3.716693 4.669285 930.140303
3-B-4 102,724.27 6.000000% 06050HFP8 3.716693 4.669285 930.140303
3-B-5 102,724.27 6.000000% 06050HFQ6 3.716693 4.669285 930.140303
3-B-6 103,296.89 6.000000% 06050HFR4 3.716521 4.669291 930.141623
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
Totals - - 104,481,592.26 - - - - -
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------
Mortgage Pass-Through Certificates
Series 2002-3
Bank of America, NA, Master Servicer
------------------------------------------------------------
- --------------------------------------------------------------------------------
COLLATERAL INFORMATION
- --------------------------------------------------------------------------------
Prin balance 48,858,671.80 28,054,833.73 18,997,538.70
Loan count 111 67 45
Avg loan rate 6.918390% 6.854020% 6.696959%
Prepay amount 2,854,910.76 3,131,867.60 2,416,268.34
Total
-----
Prin balance 95,911,044.23
Loan count 223
Avg loan rate 6.85
Prepay amount 8,403,046.70
- --------------------------------------------------------------------------------
FEES AND ADVANCES
- --------------------------------------------------------------------------------
Master serv fees 12,556.95 8,011.80 8,703.61
Sub servicer fees 0.00 0.00 0.00
Trustee fees 129.41 78.04 53.75
Agg advances N/A N/A N/A
Adv this period 0.00 0.00 0.00
Total
-----
Master serv fees 29,272.35
Sub servicer fees 0.00
Trustee fees 261.20
Agg advances N/A
Adv this period 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
Cumulative losses 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
Fraud 0.00
Special Hazard 0.00
Aggregate Certificate Information
-----------------------------------------------------------------------------
Class Aggregate Aggregate Aggregate
Type Percentage Prepay Pct. End Cert. Bal.
-----------------------------------------------------------------------------
Senior 88.282346% 100.000000% 92,224,317.23
-----------------------------------------------------------------------------
Junior 11.717654% 0.000000% 12,240,869.43
-----------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DELINQUENCY INFORMATION
- --------------------------------------------------------------------------------
Period Loan Count Ending Stated Balance
- ------ ---------- ---------------------
30 to 59 days 2 817,974.64
60 to 89 days 0 0.00
90 or more 0 0.00
Foreclosure 0 0.00
Totals: 2 817,974.64
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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 9,123,085.03 9,123,085.03
Principal remittance amount 8,570,547.27 8,570,547.27
Interest remittance amount 552,537.76 552,537.76