UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                    FORM 10-K

                  Annual Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

                            For the fiscal year ended
                                December 31, 2002

                      Commission file number: 333-53933-05

           BANK OF AMERICA MORTGAGE SECURITIES, INC.
           MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1998-1 TRUST
            (Exact name of Registrant as specified in its Charter)

                                                       33-0807904
           NEW YORK                                    33-0807905
           (State or other jurisdiction                (I.R.S. Employer
           incorporation or organization)              Identification Number)

           c/o Deutsche Bank National Trust Company
           1761 East St. Andrew Place
           Santa Ana, CA                                92705-4934
           (Address of principal executive offices)    (Zip Code)

               Registrant's telephone number, including area code:
                                 (714) 247-6271

           Securities registered pursuant to Section 12(b) of the Act:
                                 NOT APPLICABLE.

           Securities registered pursuant to Section 12(g) of the Act:
                                 NOT APPLICABLE.

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of the Form 10-K or any
amendment to this Form 10-K. NOT APPLICABLE.

Aggregate market value of voting stock held by non-affiliates of the Registrant
as of December 31, 2002: NOT APPLICABLE.

Number of shares of common stock outstanding as of December 31, 2002: NOT
APPLICABLE.

DOCUMENTS INCORPORATED BY REFERENCE

Documents in Part I and Part IV incorporated herein by reference are as follows:
NOT APPLICABLE.

PART I

ITEM 1. Business.

                                     Page 1
<PAGE>

The trust fund (the "Trust") was created pursuant to a Pooling and Servicing
Agreement dated as of April 1, 1998 (the "Pooling and Servicing Agreement")
among Bank of America Mortgage Securities, Inc. (formerly BA Mortgage
Securities, Inc.) as the Depositor (the "Depositor"), Bank of America, N.A.
(formerly known as Bank of America National Trust and Savings Association and
successor to Bank of America, FSB) as Master Servicer (the "Master Servicer"),
and Deutsche Bank National Trust Company (as successor to Bankers Trust Company
of California, N.A.), as trustee (the "Trustee), providing for the issuance of
the Mortgage Pass-Through Certificates, Series 1998-1).

Information with respect to the business of the Trust would not be meaningful
because the only "business" of the Trust is the collection on the Mortgage Loans
and distribution of payments on the Certificates to Certificateholders. Reports
on Form 8-K, dated as of November 22, 2002, December 10, 2002 and January 10,
2003, were filed by the Company in order to provide the statements for the
monthly distributions to holders of the Certificates. No other reports on Form
8-K have been filed with respect to the period covered by this report.

ITEM 2. Properties.

NOT APPLICABLE

ITEM 3. Legal Proceedings.

None.

ITEM 4. Submission of Matters to a Vote of Security Holders.

No matters were submitted to a vote of Certificateholders during the fiscal year
covered by this report.


PART II

ITEM 5. Market for Registrant's Common Equity and Related Stockholder Matters.

The number of registered holders of all classes of
Certificates on December 31, 2002 were as following:
Class IA-1: 1
Class IA-2: 1
Class IA-3: 1
Class IA-4: 1
Class IA-5: 1
Class IA-6: 1
Class I-X:  1
Class I-PO: 1
Class IIA-1: 1
Class IIA-2: 1
Class IIA-3: 1
Class IIA-4: 1
Class IIA-5: 1
Class II-X: 1
Class II-PO: 1
Class M: 1
Class B-1: 1
Class B-2: 1
Class R-I: 2
Class R-II: 2
Class B-3: 1
Class B-4: 1

                                     Page 2
<PAGE>

Class B-5: 1

ITEM 6. Selected Financial Data.

Not Applicable. Because of the limited activities of the Trust, the Selected
Financial Data required by Item 301 of Regulation S-K does not add relevant
information to that provided by the Monthly Reports to Certificateholders.

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results
of Operations.

Not Applicable. The information required by Item 303 of Regulation S-K is
inapplicable because the Trust does not have management per se, but rather the
Trust has a Trustee who causes the preparation of the Monthly Reports to
Certificateholders. The information provided by the Monthly Reports to
Certificateholders does provide the relevant financial information regarding the
financial status of the Trust.

ITEM 8. Financial Statements and Supplementary Data.

See Item 14(a), Exhibits 99.1 and 99.2 for information provided in lieu of
information required by Item 302 of Regulation S-K.

ITEM 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

None.


PART III

ITEM 10. Directors and Executive Officers of Registrant.

Not Applicable.

ITEM 11. Executive Compensation.

Not Applicable.

ITEM 12. Security Ownership of Certain Beneficial Owners and Management.

Not Applicable.

ITEM 13. Certain Relationships and Related Transactions.

Not Applicable.


PART IV

ITEM 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

(a) EXHIBITS

(99.1) Annual Independent Accountants' Servicing Reports concerning servicing
       activities for the year ended December 31, 2002.

(99.2) Annual Statements of Compliance under the Pooling and Servicing Agreement
       for the year ended December 31, 2002.

(b) Reports on Form 8-K, dated as of November 22, 2002,

                                     Page 3
<PAGE>

December 10, 2002 and January 10, 2003, were filed by the Company in order to
provide the statements for the monthly distributions to holders of the
Certificates. No other reports on Form 8-K have been filed with respect to the
period covered by this report.

(c) The exhibits required to be filed by the Trust pursuant to Item 601 of
Regulation S-K are listed above and in the Exhibit Index that immediately
follows the signature page hereof.

(d) Not Applicable. The Trust does not have any subsidiaries or affiliates.
Therefore, no financial statements are filed with respect to subsidiaries or
affiliates.

Supplemental information to be furnished with reports filed pursuant to Section
15(d) by registrants which have not registered securities pursuant to Section 12
of the Act.

No annual report, proxy statement, form of proxy or other soliciting material
has been sent to Certificateholders, and the Registrant does not contemplate
sending any such materials subsequent to the filing of this report.


                                    SIGNATURE

          Pursuant to the requirements of Section 13 or 15(d) 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.

                             By:  Bank of America, N.A., as Servicer


                             By:  /s/Judy Lowman
                             Judy Lowman
                             Vice President

     Date:  March 31, 2003


      Master Servicer's Sarbanes-Oxley Certification (1998 DB Transactions)

                   BANK OF AMERICA MORTGAGE SECURITIES, INC.,
                       MORTGAGE PASS-THROUGH CERTIFICATES,
                      SERIES SET FORTH ON EXHIBIT I HERETO

      I, Gary K. Bettin, a Senior Vice President of Bank of America, N.A.,
certify that:

1.    I have reviewed the annual reports on Form 10-K for the calendar year 2002
      and all monthly current reports on Form 8-K containing a copy of the
      monthly statement to certificateholders (the "Distribution Date
      Statements") delivered pursuant to Section 4.03(b) of the Pooling and
      Servicing Agreements listed on Exhibit I hereto (each, an "Agreement")
      filed in respect of periods included in the year covered by such annual
      reports of the trusts (each, a "Trust") formed pursuant to such
      Agreements;

2.    Based on my knowledge, with respect to each Trust, the information in
      these reports, taken as a whole, does not contain any untrue statement of
      a material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were made, not misleading as of the last day of the period covered by such


                                     Page 4
<PAGE>

      annual report;

3.    Based on my knowledge, the distribution or servicing information required
      to be provided to the trustee by each master servicer under each Agreement
      for inclusion in the related Trust's Distribution Date Statements is
      included in these reports;

4.    I am responsible for reviewing the activities performed by each master
      servicer under each Agreement and based upon my knowledge and the annual
      compliance review required under each Agreement, and except as disclosed
      in the reports, each master servicer has fulfilled its obligations under
      each Agreement;

5.    The reports disclose all significant deficiencies relating to each master
      servicer's compliance with the minimum servicing standards, based upon the
      report provided by each independent public accountant after conducting a
      review in compliance with the Uniform Single Attestation Program for
      Mortgage Bankers or similar procedure as set forth in the Agreement that
      is included in these reports; and

6.    In giving the certifications above, I have reasonably relied on
      information provided to me by the following unaffiliated party: Deutsche
      Bank National Trust Company.



                                          By:   /s/ Gary K. Bettin
                                                Name:  Gary K. Bettin
                                                Title: Senior Vice President


<PAGE>


<TABLE>
<CAPTION>
   PARTIES TO AGREEMENT                                  DATE OF AGREEMENT          SERIES
  =============================================================================================
<S>                                                         <C>                     <C>
Q75   Bank of America Mortgage Securities, Inc.,            April 1, 1998           1998-1
      Bank of America, N.A. and Deutsche Bank
      National Trust Company

Q76   Bank of America Mortgage Securities, Inc.,            May 1, 1998             1998-2
      Bank of America, N.A. and Deutsche Bank
      National Trust Company

</TABLE>

EXHIBIT INDEX

Exhibit Document

     99.1 Annual Independent Accountants' Servicing Reports concerning
          servicing activities for the year ended December 31, 2002.

     99.2 Annual Statements of Compliance under the Pooling and Servicing
          Agreement for the year ended December 31, 2002.

                                     Page 5