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<PAGE>
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest event reported): FEBRUARY 28, 1997
BAY VIEW SECURITIZATION CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
<TABLE>
<S> <C> <C>
DELAWARE 333-16233 93-1225376
- ------------------------------ -------------------- ------------------------------------
State or other jurisdiction of (Commission File No.) (I.R.S. Employer Identification No.)
incorporation or organization
</TABLE>
c/o BAY VIEW BANK
2121 SO. EL CAMINO REAL
SAN MATEO, CALIFORNIA 94403
- --------------------------------------- ---------
Address of principal executive offices Zip Code
Registrant's telephone number, including area code: (415) 573-7300
Not Applicable
- --------------------------------------------------------------------------------
(Former name, former address, and former fiscal year,
if changed since last report)
<PAGE>
Item 7. Financial Statements, Pro forma Financial Information and Exhibits
Exhibit 99.1 Monthly Servicer's Report dated February 28, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on behalf of Bay View
Securitization Corporation by the undersigned thereunto duly authorized.
BAY VIEW 1997 RA-1 AUTO TRUST
By: BAY VIEW SECURITIZATION CORPORATION
ORIGINATOR OF TRUST
Dated: March 25, 1997 By: /s/ David A. Heaberlin
-------------------------------------
David A. Heaberlin
Executive Vice President and
Chief Financial Officer
Page 2
<PAGE>
EXHIBIT 99.1
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: February 28, 1997
A. PRINCIPAL BALANCE RECONCILIATION
<TABLE>
<CAPTION>
Number of
A-1 A-2 Total Accounts
-------------- ------------- -------------- ----------
<S> <C> <C> <C> <C>
(A) Original Principal Balance 200,979,000.00 52,245,989.00 253,224,989.00 21,106
(B) Beginning Period Principal Balance 189,277,366.39 52,245,989.00 241,523,355.39 20,621
(C) Collections (Regular Payments) 4,752,049.09 0.00 4,752,049.09 N/A
(D) Collections (Principal Payoffs) 4,424,515.74 0.00 4,424,515.74 447
(E) Collections (Principal Recoveries) 0.00 0.00 0.00
(F) Withdrawal from Payahead (Principal) 0.00 0.00 0.00 N/A
(G) Principal Reductions 85,275.36 0.00 85,275.36
(H) Gross Charge Offs 0.00 0.00 0.00 0
(I) Repurchases 63,745.73 0.00 63,745.73 6
-------------- ------------- -------------- ------
(J) Ending Balance 179,951,780.47 52,245,989.00 232,197,769.47 20,168
-------------- ------------- -------------- ------
Notional Principal Balance:
(K) Beginning 165,280,085.00
--------------
(L) Ending 156,693,745.50
--------------
(M) Certificate Factor 89.53760367% 100.0000000% 91.69623045%
-------------- ------------- --------------
B. CASH FLOW RECONCILIATION
Total
--------------
(A) Cash Wired 10,475,909.46
(B) Interest Wired/Earned 42,178.57
(C) Month-end Deposit to Collection Account 1,239,606.35
(D) Withdrawal from Payahead Account 0.00
(E) Advances 444,275.62
(F) Repurchases 63,745.73
(G) Gross Charge-Off Recoveries 0.00
(H) Gross Charge-Off Advances 0.00
(I) Spread Account Withdrawal 0.00
(J) "A" Surety Bond Draw for "I" Interest 0.00
(K) "A" Surety Bond Draw for "A-1" Principal or Interest 0.00
(L) "A" Surety Bond Draw for "A-2" Principal or Interest 0.00
--------------
TOTAL COLLECTIONS 12,265,715.73
--------------
C. TRUSTEE DISTRIBUTION
Total
--------------
(A) Total Cash Flow 12,265,715.73
(B) Unrecovered Interest Advances 0.00
(C) Servicing Fee (Due and Unpaid) 201,269.46
(D) Interest to "A-1" Certificate Holders, including Overdue 992,128.86
(E) Interest to "A-2" Certificate Holders, including Overdue 286,917.56
(F) Interest to "I" Certificate Holders, including Overdue 433,860.22
(G) Principal to "A-1" Certificate Holders, including Overdue 9,325,585.92
(H) Principal to "A-2" Certificate Holders, including Overdue 0.00
(I) Reinsurance Fee 0.00
(J) Surety Bond Fee 43,077.86
(K) First Loss Protection 12,887.00
(L) Sure Bond Premium 30,887.00
(M) Interest Advance Recovery Payments 0.00
(N) Unreimbursed Draws on Class"A" Surety Bond for Class "A-1" Interest 0.00
(O) Unreimbursed Draws on Class"A" Surety Bond for Class "A-2" Interest 0.00
(P) Unreimbursed Draws on Class"A" Surety Bond for Class "I" Interest 0.00
--------------
</TABLE>
Page 3
<PAGE>
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: February 28, 1997
<TABLE>
<CAPTION>
<S> <C> <C>
(Q) Deposit to Payahead 31,820.67
(R) Bank Account Interest to Services 42,178.57
(S) Excess Yield 908,876.61
--------------
BALANCE 0.00
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread Account Surety Bond
-------------- --------------
(A) Beginning Balance 67,520.70 253,224,989.00
(B) Additions to Spread Amount 908,876.61 N/A
(C) Interest Earned
(D) Draws 0.00 0.00
(E) Reimbursement for Prior Draws N/A 0.00
(F) Distribution of Funds to Servicer 0.00 0.00
(G) Ending Balance 976,397.31 234,263,521.50
-------------- --------------
(H) Required Balance 3,019,041.94 0.00
(I) Distribution to "IC" class 0.00
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
-------------------- ------------- --------------
(A) 31-60 40 427,355.76
(B) 61-90 1 16,899.73
(C) 91 plus 0 0.00
(D) Total 41 444,255.49
</TABLE>
F. EXCESS YIELD
<TABLE>
<CAPTION>
Excess Yield Pool Excess
Month Balance Balance Yield%
----- -------------- -------------- --------------
<S> <C> <C> <C>
(A) Current 908,876.61 232,197,769.47 0.3914%
(B) 1st Previous 67,520.70 241,523,355.39 0.0280%
(C) 2nd Previous 0.00 0.00 #DIV/01
(D) 3rd Previous 0.00 0.00 #DIV/01
(E) 4th Previous 0.00 0.00 #DIV/01
(F) 5th Previous 0.00 0.00 #DIV/01
(G) Six Month Rolling Excess Yield 0.00 0.00 #DIV/01
</TABLE>
G. DELINQUENCY RATE (30 PLUS)
<TABLE>
<CAPTION>
Month Pool
Month Balance Balance %
----- -------------- -------------- --------------
<S> <C> <C> <C>
(A) Current 444,255.49 232,197,769.47 0.1913%
(B) 1st Previous 16,879.73 241,523,355.39 0.0070%
(C) 2nd Previous 0.00 0.00 #DIV/01
(D) Three-Month Rolling Average 0.00 0.00 #DIV/01
</TABLE>
H. NET LOSS RATE
<TABLE>
<CAPTION>
Liquidation Average Defaulted
Month Balance Procceds Balance (Annualized)
----- -------------- ------------- -------------- ------------
<S> <C> <C> <C> <C>
(A) Current 0.00 0.00 236,860,562.43 0.0000%
(B) 1st Previous 0.00 0.00 247,374,172.20 0.0000%
(C) 1st Previous 0.00 0.00 0.00 #DIV/01
(D) Three-Month Rolling Average Net Default Rate 0.00 0.00 0.00 0.0000%
</TABLE>
Page 4
<PAGE>
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: February 28, 1997
I. CHARGE-OFF/RECOVERIES
<TABLE>
<CAPTION>
Number Balance
------------- --------------
<S> <C> <C>
(A) Collection Period Charge-Off Receivables 0 0.00
(B) Gross Charge-Offs Cumulative Receivables 0 0.00
(C) Collection Period Recoveries on Charge-Offs 0 0.00
(D) Recoveries on Charge-Offs To-Date 0 0.00
J. REPOSSESSIONS
(A) Collection Period Repossessions 31 376,555.31
(B) Aggregate Repossessions 52 693,844.34
(C) Unliquidated Repossessions 50 547,700.29
K. FORCED PLACE INSURANCE
(A) FPI Charge-Offs 0 0.00
(B) FPI Canceled/Waived/Removed/Reversed 112 410,868.27
L. PAYAHEAD RECONCILIATION
(A) Beginning Balance 622,489.74
(B) Deposit 31,820.67
(C) Withdrawal 0.00
(D) Ending Balance 654,310.41
</TABLE>
Page 5
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