8-K 1 bam0300k_sep.txt SEPTEMBER 8-K UNITED STATES 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): September 27, 2004 BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2003-K Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-105940-15 54-2135811 Pooling and Servicing Agreement) (Commission 54-2135812 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 27, 2004 a distribution was made to holders of BANC OF AMERICA MORTGAGE SECURITIES, INC., Mortgage Pass-Through Certificates, Series 2003-K Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-K Trust, relating to the September 27, 2004 distribution. 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 hereunto duly authorized. BANC OF AMERICA MORTGAGE SECURITIES, INC. Mortgage Pass-Through Certificates, Series 2003-K Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 9/28/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-K Trust, relating to the September 27, 2004 distribution. EX-99.1

Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Certificates Record Date: 78/31/042004 Distribution Date: 89/2527/042004 BAM Series: 2003-K Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution 1-A-1 05948XZB0 SEN 3.~~39159~~39456% 5654,~~453~~938,~~433~~868.3878 ~~159~~155,~~555~~410.5297 12,~~514~~626,~~564~~803.6079 1-A-2 05948XZC8 SEN 3.~~94159~~94456% 28,~~996~~218,~~770~~828.3158 9592,~~244~~759.3600 ~~777~~1,~~941~~349,232.7484 1-A-3 05948XZD6 SEN 3.~~94159~~94456% ~~943~~917,~~106~~803.1192 3,~~097~~016.7894 2543,~~302~~883.1815 1-A-R 05948XZE4 SEN 3.~~60527~~60464% 0.00 0.00 0.00 1-A-LR 05948XZF1 SEN 3.~~60527~~60464% 0.00 0.13 0.00 2-A-1 05948XZG9 SEN 4.~~21299~~21137% ~~183~~179,~~778~~998,~~439~~695.7906 ~~645~~631,~~213~~700.6162 32,~~779~~882,~~744~~051.7327 2-A-2 05948XZH7 SEN 4.~~52799~~52637% ~~208~~204,~~957~~660,~~862~~255.1990 ~~788~~771,~~465~~973.5502 43,~~297~~276,~~606~~920.2915 3-A-1 05948XZJ3 SEN 4.~~63627~~63632% 40,~~684~~630,~~180~~229.7024 ~~157~~156,~~185~~978.5698 53871,~~951~~635.4717 B-1 05948XZK0 SUB 4.~~23319~~23268% 10,~~011~~000,~~958~~857.8272 35,~~318~~275.7433 11,~~101~~183.1065 B-2 05948XZL8 SUB 4.~~23319~~23268% 5,~~720~~714,~~836~~492.0587 20,~~181~~156.1433 6,~~343~~390.1734 B-3 05948XZM6 SUB 4.~~23319~~23268% 2,~~860~~857,~~418~~246.0244 10,~~090~~078.5717 3,~~171~~195.5917 B-4 05948XZS3 SUB 4.~~23319~~23268% 1,~~072~~071,~~780~~591.6921 3,~~784~~779.4075 1,~~189~~198.4833 B-5 05948XZT1 SUB 4.~~23319~~23268% 1,~~072~~071,~~780~~591.6921 3,~~784~~779.4075 1,~~189~~198.4833 B-6 05948XZU8 SUB 4.~~23319~~23268% 1,~~788~~786,~~081~~098.5192 6,~~307~~299.7498 1,~~982~~997.6034 1-IO 05948XZP9 SEN 0.48039% 0.00 3635,~~443~~513.8326 0.00 2-IO 05948XZQ7 SEN 0.14740% 0.00 5049,~~253~~259.6749 0.00 3-IO 05948XZR5 SEN 0.15400% 0.00 5,~~414~~407.4830 0.00 SES 05948XZN4 SEN 0.00000% 0.00 ~~102~~100,~~249~~035.6815 0.00 Totals ~~542~~531,~~340~~866,~~648~~559.2685 2,~~122~~081,~~591~~424.1617 1011,~~474~~075,~~088~~689.4353

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses 1-A-1 0.00 5452,~~938~~312,~~868~~064.7899 12,~~674~~782,~~120~~214.1276 0.00 1-A-2 0.00 2826,~~218~~869,~~828~~595.5874 ~~873~~1,~~186~~441,991.1084 0.00 1-A-3 0.00 ~~917~~873,~~803~~920.9277 2846,~~399~~900.9609 0.00 1-A-R 0.00 0.00 0.00 0.00 1-A-LR 0.00 0.00 0.13 0.00 2-A-1 0.00 ~~179~~177,~~998~~116,~~695~~643.0679 43,~~424~~513,~~958~~751.3489 0.00 2-A-2 0.00 ~~204~~201,~~660~~383,~~255~~335.9075 54,~~086~~048,~~071~~893.8417 0.00 3-A-1 0.00 4039,~~630~~758,~~229~~594.2407 ~~211~~1,~~137~~028,614.0315 0.00 B-1 0.00 109,~~000~~989,~~857~~674.7206 46,~~419~~458.8498 0.00 B-2 0.00 5,~~714~~708,~~492~~102.8753 26,~~524~~546.3167 0.00 B-3 0.00 2,~~857~~854,~~246~~051.4426 13,~~262~~273.1634 0.00 B-4 0.00 1,~~071~~070,~~591~~392.2188 4,~~973~~978.8808 0.00 B-5 0.00 1,~~071~~070,~~591~~392.2188 4,~~973~~978.8808 0.00 B-6 0.00 1,~~786~~784,~~098~~101.9258 8,~~290~~297.3432 0.00 1-IO 0.00 0.00 3635,~~443~~513.8326 0.00 2-IO 0.00 0.00 5049,~~253~~259.6749 0.00 3-IO 0.00 0.00 5,~~414~~407.4830 0.00 SES 0.00 0.00 ~~102~~100,~~249~~035.6815 0.00 Totals 0.00 ~~531~~520,~~866~~790,~~559~~870.8530 1213,~~596~~157,~~679~~113.5970 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) 1-A-1 94,278,000.00 5654,~~453~~938,~~433~~868.3878 8179,~~486~~918.1574 12,~~433~~546,~~078~~885.4505 0.00 0.00 1-A-2 48,425,000.00 28,~~996~~218,~~770~~828.3158 41,~~854~~049.5950 ~~736~~1,~~087~~308,183.1533 0.00 0.00 1-A-3 1,575,000.00 ~~943~~917,~~106~~803.1192 1,~~361~~335.3012 2342,~~940~~548.8804 0.00 0.00 1-A-R 50.00 0.00 0.00 0.00 0.00 0.00 1-A-LR 50.00 0.00 0.00 0.00 0.00 0.00 2-A-1 237,465,000.00 ~~183~~179,~~778~~998,~~439~~695.7906 ~~183~~181,~~171~~066.7872 32,~~596~~700,~~572~~984.9556 0.00 0.00 2-A-2 270,000,000.00 ~~208~~204,~~957~~660,~~862~~255.1990 ~~208~~205,~~268~~874.0861 43,~~089~~071,~~338~~045.2154 0.00 0.00 3-A-1 46,782,000.00 40,~~684~~630,~~180~~229.7024 52,~~743~~968.4006 1818,~~208~~667.0711 0.00 0.00 B-1 10,098,000.00 10,~~011~~000,~~958~~857.8272 11,~~101~~183.1065 0.00 0.00 0.00 B-2 5,770,000.00 5,~~720~~714,~~836~~492.0587 6,~~343~~390.1734 0.00 0.00 0.00 B-3 2,885,000.00 2,~~860~~857,~~418~~246.0244 3,~~171~~195.5917 0.00 0.00 0.00 B-4 1,082,000.00 1,~~072~~071,~~780~~591.6921 1,~~189~~198.4833 0.00 0.00 0.00 B-5 1,082,000.00 1,~~072~~071,~~780~~591.6921 1,~~189~~198.4833 0.00 0.00 0.00 B-6 1,803,448.00 1,~~788~~786,~~081~~098.5192 1,~~982~~997.6034 0.00 0.00 0.00 1-IO 0.00 0.00 0.00 0.00 0.00 0.00 2-IO 0.00 0.00 0.00 0.00 0.00 0.00 3-IO 0.00 0.00 0.00 0.00 0.00 0.00 SES 0.00 0.00 0.00 0.00 0.00 0.00 Totals 721,245,548.00 ~~542~~531,~~340~~866,~~648~~559.2685 ~~593~~587,~~862~~375.7291 910,~~880~~488,~~225~~313.7163 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution 1-A-1 12,~~514~~626,~~564~~803.6079 5452,~~938~~312,~~868~~064.7899 0.~~58273265~~55487033 12,~~514~~626,~~564~~803.6079 1-A-2 ~~777~~1,~~941~~349,232.7484 2826,~~218~~869,~~828~~595.5874 0.~~58273265~~55487033 ~~777~~1,~~941~~349,232.7484 1-A-3 2543,~~302~~883.1815 ~~917~~873,~~803~~920.9277 0.~~58273265~~55487033 2543,~~302~~883.1815 1-A-R 0.00 0.00 0.00000000 0.00 1-A-LR 0.00 0.00 0.00000000 0.00 2-A-1 32,~~779~~882,~~744~~051.7327 ~~179~~177,~~998~~116,~~695~~643.0679 0.~~75800095~~74586421 32,~~779~~882,~~744~~051.7327 2-A-2 43,~~297~~276,~~606~~920.2915 ~~204~~201,~~660~~383,~~255~~335.9075 0.~~75800095~~74586421 43,~~297~~276,~~606~~920.2915 3-A-1 53871,~~951~~635.4717 4039,~~630~~758,~~229~~594.2407 0.~~86850133~~84986948 53871,~~951~~635.4717 B-1 11,~~101~~183.1065 109,~~000~~989,~~857~~674.7206 0.~~99038005~~98927254 11,~~101~~183.1065 B-2 6,~~343~~390.1734 5,~~714~~708,~~492~~102.8753 0.~~99038005~~98927254 6,~~343~~390.1734 B-3 3,~~171~~195.5917 2,~~857~~854,~~246~~051.4426 0.~~99038005~~98927253 3,~~171~~195.5917 B-4 1,~~189~~198.4833 1,~~071~~070,~~591~~392.2188 0.~~99038005~~98927253 1,~~189~~198.4833 B-5 1,~~189~~198.4833 1,~~071~~070,~~591~~392.2188 0.~~99038005~~98927253 1,~~189~~198.4833 B-6 1,~~982~~997.6034 1,~~786~~784,~~098~~101.9258 0.~~99038005~~98927254 1,~~982~~997.6034 1-IO 0.00 0.00 0.00000000 0.00 2-IO 0.00 0.00 0.00000000 0.00 3-IO 0.00 0.00 0.00000000 0.00 SES 0.00 0.00 0.00000000 0.00 Totals 1011,~~474~~075,~~088~~689.4353 ~~531~~520,~~866~~790,~~559~~870.8530 0.~~73742786~~72207152 1011,~~474~~075,~~088~~689.4353

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion 1-A-1 94,278,000.00 ~~598~~582.~~79752837~~73265004 0.~~86431776~~84769236 1527.~~20056058~~01462748 0.00000000 1-A-2 48,425,000.00 ~~598~~582.~~79752834~~73265008 0.~~86431781~~84769231 1527.~~20056066~~01462736 0.00000000 1-A-3 1,575,000.00 ~~598~~582.~~79753016~~73264762 0.~~86431746~~84769524 1527.~~20055873~~01462857 0.00000000 1-A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 237,465,000.00 ~~773~~758.~~91800809~~00094776 0.~~77136327~~76249856 1511.~~14569705~~37424277 0.00000000 2-A-2 270,000,000.00 ~~773~~758.~~91800811~~00094778 0.~~77136326~~76249856 1511.~~14569707~~37424274 0.00000000 3-A-1 46,782,000.00 ~~869~~868.~~65458296~~50133043 1.~~12742935~~13223163 017.~~02582339~~49961759 0.00000000 B-1 10,098,000.00 ~~991~~990.~~47938404~~38004753 1.~~09933650~~10751139 0.00000000 0.00000000 B-2 5,770,000.00 ~~991~~990.~~47938475~~38004679 1.~~09933622~~10751127 0.00000000 0.00000000 B-3 2,885,000.00 ~~991~~990.~~47938302~~38004853 1.~~09933795~~10751127 0.00000000 0.00000000 B-4 1,082,000.00 ~~991~~990.~~47938078~~38004621 1.~~09933457~~10751386 0.00000000 0.00000000 B-5 1,082,000.00 ~~991~~990.~~47938078~~38004621 1.~~09933457~~10751386 0.00000000 0.00000000 B-6 1,803,448.00 ~~991~~990.~~47938283~~38004977 1.~~09933860~~10751183 0.00000000 0.00000000 1-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 3-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution 1-A-1 0.00000000 1627.~~06487834~~86231984 ~~582~~554.~~73265004~~87033019 0.~~58273265~~55487033 1627.~~06487834~~86231984 1-A-2 0.00000000 1627.~~06487847~~86231988 ~~582~~554.~~73265008~~87033020 0.~~58273265~~55487033 1627.~~06487847~~86231988 1-A-3 0.00000000 1627.~~06487619~~86231746 ~~582~~554.~~73264762~~87033016 0.~~58273265~~55487033 1627.~~06487619~~86231746 1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 0.00000000 1512.~~91706032~~13674129 ~~758~~745.~~00094776~~86420647 0.~~75800095~~74586421 1512.~~91706032~~13674129 2-A-2 0.00000000 1512.~~91706033~~13674130 ~~758~~745.~~00094778~~86420648 0.~~75800095~~74586421 1512.~~91706033~~13674130 3-A-1 0.00000000 118.~~15325275~~63184922 ~~868~~849.~~50133043~~86948121 0.~~86850133~~84986948 118.~~15325275~~63184922 B-1 0.00000000 1.~~09933650~~10751139 ~~990~~989.~~38004753~~27253516 0.~~99038005~~98927254 1.~~09933650~~10751139 B-2 0.00000000 1.~~09933622~~10751127 ~~990~~989.~~38004679~~27253553 0.~~99038005~~98927254 1.~~09933622~~10751127 B-3 0.00000000 1.~~09933795~~10751127 ~~990~~989.~~38004853~~27253380 0.~~99038005~~98927253 1.~~09933795~~10751127 B-4 0.00000000 1.~~09933457~~10751386 ~~990~~989.~~38004621~~27253235 0.~~99038005~~98927253 1.~~09933457~~10751386 B-5 0.00000000 1.~~09933457~~10751386 ~~990~~989.~~38004621~~27253235 0.~~99038005~~98927253 1.~~09933457~~10751386 B-6 0.00000000 1.~~09933860~~10751183 ~~990~~989.~~38004977~~27253794 0.~~99038005~~98927254 1.~~09933860~~10751183 1-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 2-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 SES 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall 1-A-1 94,278,000.00 3.~~39159~~39456% 5654,~~453~~938,~~433~~868.3878 ~~159~~155,~~555~~410.5297 0.00 0.00 1-A-2 48,425,000.00 3.~~94159~~94456% 28,~~996~~218,~~770~~828.3158 9592,~~244~~759.3600 0.00 0.00 1-A-3 1,575,000.00 3.~~94159~~94456% ~~943~~917,~~106~~803.1192 3,~~097~~016.7894 0.00 0.00 1-A-R 50.00 3.~~60527~~60464% 0.00 0.00 0.00 0.00 1-A-LR 50.00 3.~~60527~~60464% 0.00 0.00 0.00 0.00 2-A-1 237,465,000.00 4.~~21299~~21137% ~~183~~179,~~778~~998,~~439~~695.7906 ~~645~~631,~~213~~700.61 0.00 0.00 2-A-2 270,000,000.00 4.~~52799~~52637% ~~208~~204,~~957~~660,~~862~~255.1990 ~~788~~771,~~465~~973.5502 0.00 0.00 3-A-1 46,782,000.00 4.~~63627~~63632% 40,~~684~~630,~~180~~229.7024 ~~157~~156,~~185~~978.5697 0.00 0.00 B-1 10,098,000.00 4.~~23319~~23268% 10,~~011~~000,~~958~~857.8272 35,~~318~~275.7433 0.00 0.00 B-2 5,770,000.00 4.~~23319~~23268% 5,~~720~~714,~~836~~492.0587 20,~~181~~156.1433 0.00 0.00 B-3 2,885,000.00 4.~~23319~~23268% 2,~~860~~857,~~418~~246.0244 10,~~090~~078.5717 0.00 0.00 B-4 1,082,000.00 4.~~23319~~23268% 1,~~072~~071,~~780~~591.6921 3,~~784~~779.4075 0.00 0.00 B-5 1,082,000.00 4.~~23319~~23268% 1,~~072~~071,~~780~~591.6921 3,~~784~~779.4075 0.00 0.00 B-6 1,803,448.00 4.~~23319~~23268% 1,~~788~~786,~~081~~098.5192 6,~~307~~299.7498 0.00 0.00 1-IO 0.00 0.48039% 9188,~~034~~710,~~658~~150.6570 3635,~~443~~513.8326 0.00 0.00 2-IO 0.00 0.14740% ~~409~~401,~~115~~021,~~254~~578.8292 5049,~~253~~259.6749 0.00 0.00 3-IO 0.00 0.15400% 42,~~190~~134,~~735~~830.3779 5,~~414~~407.4830 0.00 0.00 SES 0.00 0.00000% ~~542~~531,~~340~~866,~~648~~560.8441 0.00 0.00 0.00 Totals 721,245,548.00 21,~~020~~981,~~341~~388.3587 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance 1-A-1 0.00 0.00 ~~159~~155,~~555~~410.5297 0.00 5452,~~938~~312,~~868~~064.7899 1-A-2 0.00 0.00 9592,~~244~~759.3600 0.00 2826,~~218~~869,~~828~~595.5874 1-A-3 0.00 0.00 3,~~097~~016.7894 0.00 ~~917~~873,~~803~~920.9277 1-A-R 0.00 0.00 0.00 0.00 0.00 1-A-LR 0.00 0.00 0.13 0.00 0.00 2-A-1 0.00 0.00 ~~645~~631,~~213~~700.6162 0.00 ~~179~~177,~~998~~116,~~695~~643.0679 2-A-2 0.00 0.00 ~~788~~771,~~465~~973.5502 0.00 ~~204~~201,~~660~~383,~~255~~335.9075 3-A-1 0.00 0.00 ~~157~~156,~~185~~978.5698 0.00 4039,~~630~~758,~~229~~594.2407 B-1 0.00 0.00 35,~~318~~275.7433 0.00 109,~~000~~989,~~857~~674.7206 B-2 0.00 0.00 20,~~181~~156.1433 0.00 5,~~714~~708,~~492~~102.8753 B-3 0.00 0.00 10,~~090~~078.5717 0.00 2,~~857~~854,~~246~~051.4426 B-4 0.00 0.00 3,~~784~~779.4075 0.00 1,~~071~~070,~~591~~392.2188 B-5 0.00 0.00 3,~~784~~779.4075 0.00 1,~~071~~070,~~591~~392.2188 B-6 0.00 0.00 6,~~307~~299.7498 0.00 1,~~786~~784,~~098~~101.9258 1-IO 0.00 0.00 3635,~~443~~513.8326 0.00 8884,~~710~~683,~~150~~488.7097 2-IO 0.00 0.00 5049,~~253~~259.6749 0.00 ~~401~~394,~~021~~846,~~578~~147.9278 3-IO 0.00 0.00 5,~~414~~407.4830 0.00 4241,~~134~~261,~~830~~234.7913 SES 0.00 0.00 ~~102~~100,~~249~~035.6815 0.00 ~~531~~520,~~866~~790,~~560~~870.4188 Totals 0.00 0.00 2,~~122~~081,~~591~~424.1617 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall 1-A-1 94,278,000.00 3.~~39159~~39456% ~~598~~582.~~79752837~~73265004 1.~~69239398~~64843304 0.00000000 0.00000000 1-A-2 48,425,000.00 3.~~94159~~94456% ~~598~~582.~~79752834~~73265008 1.~~96684275~~91551884 0.00000000 0.00000000 1-A-3 1,575,000.00 3.~~94159~~94456% ~~598~~582.~~79753016~~73264762 1.~~96684444~~91551746 0.00000000 0.00000000 1-A-R 50.00 3.~~60527~~60464% 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 50.00 3.~~60527~~60464% 0.00000000 0.00000000 0.00000000 0.00000000 2-A-1 237,465,000.00 4.~~21299~~21137% ~~773~~758.~~91800809~~00094776 2.~~71708930~~66018407 0.00000000 0.00000000 2-A-2 270,000,000.00 4.~~52799~~52637% ~~773~~758.~~91800811~~00094778 2.~~92024278~~85915933 0.00000000 0.00000000 3-A-1 46,782,000.00 4.~~63627~~63632% ~~869~~868.~~65458296~~50133043 3.~~35995810~~35554209 0.00000000 0.00000000 B-1 10,098,000.00 4.~~23319~~23268% ~~991~~990.~~47938404~~38004753 3.~~49759754~~49329867 0.00000000 0.00000000 B-2 5,770,000.00 4.~~23319~~23268% ~~991~~990.~~47938475~~38004679 3.~~49759792~~49329809 0.00000000 0.00000000 B-3 2,885,000.00 4.~~23319~~23268% ~~991~~990.~~47938302~~38004853 3.~~49759792~~49329983 0.00000000 0.00000000 B-4 1,082,000.00 4.~~23319~~23268% ~~991~~990.~~47938078~~38004621 3.~~49759704~~49329945 0.00000000 0.00000000 B-5 1,082,000.00 4.~~23319~~23268% ~~991~~990.~~47938078~~38004621 3.~~49759704~~49329945 0.00000000 0.00000000 B-6 1,803,448.00 4.~~23319~~23268% ~~991~~990.~~47938283~~38004977 3.~~49760015~~49329728 0.00000000 0.00000000 1-IO 0.00 0.48039% ~~611~~595.~~08925988~~48551221 0.~~24463686~~23839021 0.00000000 0.00000000 2-IO 0.00 0.14740% ~~780~~765.~~79809844~~35128565 0.~~09590933~~09401193 0.00000000 0.00000000 3-IO 0.00 0.15400% ~~873~~872.~~44532276~~28796929 0.~~11209220~~11194355 0.00000000 0.00000000 SES 0.00 0.00000% ~~751~~737.~~95008124~~42785860 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance 1-A-1 0.00000000 0.00000000 1.~~69239398~~64843304 0.00000000 ~~582~~554.~~73265004~~87033019 1-A-2 0.00000000 0.00000000 1.~~96684275~~91551884 0.00000000 ~~582~~554.~~73265008~~87033020 1-A-3 0.00000000 0.00000000 1.~~96684444~~91551746 0.00000000 ~~582~~554.~~73264762~~87033016 1-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1-A-LR 0.00000000 0.00000000 2.60000000 0.00000000 0.00000000 2-A-1 0.00000000 0.00000000 2.~~71708930~~66018411 0.00000000 ~~758~~745.~~00094776~~86420647 2-A-2 0.00000000 0.00000000 2.~~92024278~~85915933 0.00000000 ~~758~~745.~~00094778~~86420648 3-A-1 0.00000000 0.00000000 3.~~35995810~~35554230 0.00000000 ~~868~~849.~~50133043~~86948121 B-1 0.00000000 0.00000000 3.~~49759754~~49329867 0.00000000 ~~990~~989.~~38004753~~27253516 B-2 0.00000000 0.00000000 3.~~49759792~~49329809 0.00000000 ~~990~~989.~~38004679~~27253553 B-3 0.00000000 0.00000000 3.~~49759792~~49329983 0.00000000 ~~990~~989.~~38004853~~27253380 B-4 0.00000000 0.00000000 3.~~49759704~~49329945 0.00000000 ~~990~~989.~~38004621~~27253235 B-5 0.00000000 0.00000000 3.~~49759704~~49329945 0.00000000 ~~990~~989.~~38004621~~27253235 B-6 0.00000000 0.00000000 3.~~49760015~~49329728 0.00000000 ~~990~~989.~~38004977~~27253794 1-IO 0.00000000 0.00000000 0.~~24463686~~23839021 0.00000000 ~~595~~568.~~48551221~~45569990 2-IO 0.00000000 0.00000000 0.~~09590933~~09401193 0.00000000 ~~765~~753.~~35128565~~56545065 3-IO 0.00000000 0.00000000 0.~~11209220~~11194355 0.00000000 ~~872~~854.~~28796929~~20250788 SES 0.00000000 0.00000000 0.~~14176820~~13869777 0.00000000 ~~737~~722.~~42785860~~07152185 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Certificateholder Component Statement Component Beginning Ending Beginning Ending Ending Pass-Through Notional Notional Component Component Component Class Rate Balance Balance Balance Balance Percentage 1-SES 0.00000% ~~91,034,658.65~~ 88,710,150.70 84,683,488.97 0.00 0.00 5956.~~54855122~~84556999% 2-SES 0.00000% ~~409,115,254.82~~ 401,021,578.92 394,846,147.78 0.00 0.00 7675.~~53512857~~35654506% 3-SES 0.00000% 42,~~190~~134,~~735~~830.3779 4241,~~134~~261,~~830~~234.7913 0.00 0.00 8785.~~22879693~~42025079%

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1213,~~620~~180,~~858~~826.9511 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 1213,~~620~~180,~~858~~826.9511 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 2423,~~179~~712.3641 Payment of Interest and Principal 1213,~~596~~157,~~679~~113.5970 Total Withdrawals (Pool Distribution Amount) 1213,~~620~~180,~~858~~826.9511 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 22,~~597~~161.5311 Trustee Fee - Wells Fargo Bank, N.A. 1,~~581~~551.8330 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 2423,~~179~~712.3641

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 25 0 0 0 25 12,~~061~~686,~~597~~307.9734 0.00 0.00 0.00 12,~~061~~686,~~597~~307.9734 60 Days 10 0 0 0 10 ~~391,149~~0.8100 0.00 0.00 0.00 ~~391,149~~0.8100 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 35 0 0 0 35 12,~~452~~686,~~747~~307.7834 0.00 0.00 0.00 12,~~452~~686,~~747~~307.7834 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~189215~~482625% 0.000000% 0.000000% 0.000000% 0.~~189215~~482625% 0.~~199419~~515337% 0.000000% 0.000000% 0.000000% 0.~~199419~~515337% 60 Days 0.~~094607~~000000% 0.000000% 0.000000% 0.000000% 0.~~094607~~000000% 0.~~073477~~000000% 0.000000% 0.000000% 0.000000% 0.~~073477~~000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~283822~~482625% 0.000000% 0.000000% 0.000000% 0.~~283822~~482625% 0.~~272896~~515337% 0.000000% 0.000000% 0.000000% 0.~~272896~~515337%

Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 - 3/1 ARM No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 23 0 0 0 23 1,~~061~~518,~~597~~830.9787 0.00 0.00 0.00 1,~~061~~518,~~597~~830.9787 60 Days 10 0 0 0 10 ~~391,149~~0.8100 0.00 0.00 0.00 ~~391,149~~0.8100 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3 0 0 0 3 1,~~452~~518,~~747~~830.7887 0.00 0.00 0.00 1,~~452~~518,~~747~~830.7887 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~098901~~714286% 0.000000% 0.000000% 0.000000% 1.~~098901~~714286% 1.~~195237~~791272% 0.000000% 0.000000% 0.000000% 1.~~195237~~791272% 60 Days 0.~~549451~~000000% 0.000000% 0.000000% 0.000000% 0.~~549451~~000000% 0.~~440389~~000000% 0.000000% 0.000000% 0.000000% 0.~~440389~~000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.~~648352~~714286% 0.000000% 0.000000% 0.000000% 1.~~648352~~714286% 1.~~635626~~791272% 0.000000% 0.000000% 0.000000% 1.~~635626~~791272% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 - 5/1 ARM No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 02 0 0 0 02 01,167,476.0047 0.00 0.00 0.00 01,167,476.0047 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 02 0 0 0 02 01,167,476.0047 0.00 0.00 0.00 01,167,476.0047 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~256082% 0.000000% 0.000000% 0.000000% 0.~~000000~~256082% 0.~~000000~~295434% 0.000000% 0.000000% 0.000000% 0.~~000000~~295434% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~000000~~256082% 0.000000% 0.000000% 0.000000% 0.~~000000~~256082% 0.~~000000~~295434% 0.000000% 0.000000% 0.000000% 0.~~000000~~295434% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 3 - 7/1 ARM No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%

COLLATERAL STATEMENT Collateral Description Mixed ARM Weighted Average Gross Coupon 4.~~744753~~744768% Weighted Average Net Coupon 4.~~473770~~473919% Weighted Average Pass-Through Rate 4.~~470270~~470419% Weighted Average Maturity(Stepdown Calculation ) ~~348~~347 Beginning Scheduled Collateral Loan Count 1,~~074~~057 Number Of Loans Paid In Full 1721 Ending Scheduled Collateral Loan Count 1,~~057~~036 Beginning Scheduled Collateral Balance ~~542~~531,~~340~~866,~~648~~560.8441 Ending Scheduled Collateral Balance ~~531~~520,~~866~~790,~~560~~870.4188 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2004 ~~532~~521,~~344~~271,~~567~~788.9791 Monthly P &I Constant 2,~~738~~690,~~256~~362.4536 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~531~~520,~~866~~790,~~560~~870.4188 Scheduled Principal ~~593~~587,~~862~~375.7290 Unscheduled Principal 910,~~880~~488,~~225~~313.7163

Miscellaneous Reporting Total Senior % 95.~~846364~~769262% Total Subordinate % 4.~~153636~~230738%

Group Level Collateral Statement Group 1 - 3/1 ARM 2 - 5/1 ARM 3 - 7/1 ARM Collateral Description Mixed ARM Mixed ARM Mixed ARM Weighted Average Coupon Rate 4.~~441085~~444058 4.~~781488~~779868 5.~~043766~~043821 Weighted Average Net Rate 4.~~191085~~194058 4.~~531488~~529868 4.~~793766~~793821 Weighted Average Maturity ~~349~~348 ~~349~~348 ~~347~~346 Beginning Loan Count ~~186~~182 ~~806~~793 82 Loans Paid In Full 47 1312 02 Ending Loan Count ~~182~~175 ~~793~~781 8280 Beginning Scheduled Balance 9188,~~034~~710,~~658~~150.6570 ~~409~~401,~~115~~021,~~254~~578.8292 42,~~190~~134,~~735~~830.3779 Ending scheduled Balance 8884,~~710~~683,~~150~~488.7097 ~~401~~394,~~021~~846,~~578~~147.9278 4241,~~134~~261,~~830~~234.7913 Record Date 0708/31/2004 0708/31/2004 0708/31/2004 Principal And Interest Constant ~~468~~457,~~312~~572.0284 2,~~037~~000,~~914~~759.4353 232,~~030~~029.0099 Scheduled Principal ~~131~~129,~~401~~045.4731 ~~407~~403,~~764~~401.7404 54,~~696~~929.5155 Unscheduled Principal 23,~~193~~897,~~106~~616.4842 75,~~685~~772,~~911~~030.1610 1818,~~208~~667.0711 Scheduled Interest ~~336~~328,~~910~~527.5553 1,~~630~~597,~~149~~358.6949 177,~~333~~100.4944 Servicing Fees 18,~~965~~481.5529 8583,~~232~~546.3516 8,~~789~~778.7308 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee ~~265~~258.5274 1,~~193~~169.2665 ~~123~~122.0591 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 9,~~482~~240.7863 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~308~~300,~~196~~546.7087 1,~~543~~512,~~724~~642.0868 168,~~420~~199.7145 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 4.~~062585~~065558 4.~~527988~~526368 4.~~790266~~790321

Group Level Collateral Statement Group Total Collateral Description Mixed ARM Weighted Average Coupon Rate 4.~~744753~~744768 Weighted Average Net Rate 4.~~473770~~473919 Weighted Average Maturity ~~348~~347 Beginning Loan Count 1,~~074~~057 Loans Paid In Full 1721 Ending Loan Count 1,~~057~~036 Beginning Scheduled Balance ~~542~~531,~~340~~866,~~648~~560.8441 Ending scheduled Balance ~~531~~520,~~866~~790,~~560~~870.4188 Record Date 0708/31/2004 Principal And Interest Constant 2,~~738~~690,~~256~~362.4536 Scheduled Principal ~~593~~587,~~862~~375.7290 Unscheduled Principal 910,~~880~~488,~~225~~313.7163 Scheduled Interest 2,~~144~~102,~~393~~986.7346 Servicing Fees ~~112~~110,~~987~~805.6353 Master Servicing Fees 0.00 Trustee Fee 1,~~581~~551.8330 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 9,~~482~~240.7863 Pool Insurance Fee 0.00 Spread Fee 1 0.00 Spread Fee 2 0.00 Spread Fee 3 0.00 Net Interest 21,~~020~~981,~~341~~389.4900 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Percentage of Cumulative Losses 0.0000 Prepayment Penalties 0.00 Special Servicing Fee 0.00 Pass-Through Rate 4.~~470270~~470419

Miscellaneous Reporting Group 1 - 3/1 ARM CPR 2541.~~402123~~723727% Senior % 94.~~901558~~775514% Senior Prepayment % 100.000000% Subordinate% 5.~~098442~~224486% Subordinate Prepayment% 0.000000% Group 2 - 5/1 ARM CPR 2015.~~372744~~983024% Senior % 95.~~996494~~919764% Senior Prepayment % 100.000000% Subordinate% 4.~~003506~~080236% Subordinate Prepayment% 0.000000% Group 3 - 7/1 ARM CPR 021.~~034399~~003105% Senior % 96.~~429181~~429079% Senior Prepayment % 100.000000% Subordinate% 3.~~570819~~570921% Subordinate Prepayment% 0.000000%

Filing Compare · BANC OF AMERICA MORTGAGE PASS-THROUGH CERT SER 2003-K