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<PAGE>
================================================================================
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): OCTOBER 10, 1997
BAY VIEW SECURITIZATION CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
DELAWARE 333-16233 93-1225376
- ------------------------------- --------------------- -------------------
State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation or organization Identification No.)
C/O BAY VIEW BANK
1840 GATEWAY DRIVE
SAN MATEO, CALIFORNIA 94404
- -------------------------------------- ------------------------------
Address of principal executive offices Zip Code
Registrant's telephone number, including area code: (650) 573-7300
2121 SO. EL CAMINO REAL, SAN MATEO, CALIFORNIA 94403, (415) 573-7300
- --------------------------------------------------------------------------------
(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 September 30, 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: October 23, 1997 By: /s/ David A. Heaberlin
----------------------
David A. Heaberlin
Treasurer and Chief Financial Officer
2
<PAGE>
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: September 30, 1997
<TABLE>
<CAPTION>
A. PRINCIPAL BALANCE RECONCILIATION
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 21106
(B) Beginning Period Principal Balance 124,312,816.95 52,245,989.00 176,558,805.95 16469
(C) Collections (Regular Payments) 4,154,162.51 0.00 4,154,162.51 N/A
(D) Collections (Principal Payoffs) 3,725,745.67 0.00 3,725,745.67 512
(E) Collections (Principal Recoveries) 0.00 0.00 0.00
(F) Withdrawal from Payahead (Principal) 13,530.96 0.00 13,530.96 N/A
(G) Principal Reductions (Other) 0.00 0.00 0.00 0
(H) Gross Charge Offs 187,635.43 0.00 187,635.43 25
(I) Repurchases 17,764.95 0.00 17,764.95 11
(J) Ending Balance 116,213,977.43 52,245,989.00 168,459,966.43 15921
Notional Principal Balance:
(K) Beginning 105,051,220.71
(L) Ending 97,140,385.56
(M) Certificate Factor 57.8239405% 100.0000000% 66.5258066%
B. CASH FLOW RECONCILIATION
Total
-----
(A) Cash Wired 10,007,129.54
(B) Interest Wired/Earned 37,023.39
(C) Withdrawal from Payahead Account 13,530.96
(D) Advances 0.00
(E) Repurchases 17,764.95
(F) Gross Charge-Off Recoveries 0.00
(G) Gross Charge-Off Advances 0.00
(H) Spread Account Withdrawal 0.00
(I) "A" Surety Bond Draw for "I" Interest 0.00
(J) "A" Surety Bond Draw for "A-1" Principal or Interest 0.00
(K) "A" Surety Bond Draw for "A-2" Principal or Interest 0.00
TOTAL COLLECTIONS 10,075,448.84
C. TRUSTEE DISTRIBUTION
Total
-----
(A) Total Cash Flow 10,075,448.84
(B) Unrecovered Interest Advances 0.00
(C) Servicing Fee (Due and Unpaid) 147,132.34
(D) Interest to "A-1" Certificate Holders, including Overdue 651,606.35
(E) Interest to "A-2" Certificate Holders, including Overdue 286,917.56
(F) Interest to "I" Certificate Holders, including Overdue 275,759.45
(G) Principal to "A-1" Certificate Holders, including Overdue 8,098,839.52
(H) Principal to "A-2" Certificate Holders, including Overdue 0.00
(I) Reinsurance Fee 0.00
(J) Surety Bond Fee 27,564.11
(K) First Loss Protection 5,494.26
(L) Surety Bond Premium 22,069.85
(M) Interest Advance Recovery Payments 104,636.18
(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
(Q) Deposit to Payahead 0.00
</TABLE>
1
<PAGE>
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: September 30, 1997
<TABLE>
<S> <C> <C> <C> <C>
(R) Bank Account Interest to Servicer 37,023.39
(S) Excess Yield 445,969.94
BALANCE 0.00
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread Account Surety Bond
-------------- -----------
(A) Beginning Balance 3,020,691.94 175,570,924.98
(B) Additions to Spread Amount 445,969.94 N/A
(C) Interest Earned 9,893.84
(D) Draws 0.00 0.00
(E) Reimbursement for Prior Draws N/A 0.00
(F) Distribution of Funds to Servicer 710,422.40 0.00
(G) Ending Balance 2,766,133.32 167,511,112.58
(H) Required Balance 3,165,312.36 167,511,112.58
(I) Distribution to "IC" Class -399,179.04
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
-------------------- ------ -------
(A) 31-60 65 605,532.06
(B) 61-90 48 339,351.88
(C) 91+ 0 0.00
(D) Total 113 944,883.94
F. EXCESS YIELD
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- ------- ------- --------------
(A) Current 445,969.94 168,459,966.43 3.1768%
(B) 1st Previous 588,174.45 176,558,805.95 3.9976%
(C) 2nd Previous 540,235.70 184,821,563.51 3.5076%
(D) 3rd Previous 581,695.55 193,663,672.23 3.6044%
(E) 4th Previous 790,779.39 202,891,866.87 4.6770%
(F) 5th Previous 981,167.62 212,736,265.27 5.5346%
(G) Six-Month Rolling Excess Yield (Greater than or=1.75%) 654,670.44 189,855,356.71 4.1379%
G. DELINQUENCY RATE (30+)
Month Pool
Month Balance Balance %
----- ------- ------- -
(A) Current 944,883.94 168,459.966.43 0.5609%
(B) 1st Previous 1,074,867.06 176,558,805.95 0.6088%
(C) 2nd Previous 1,036,251.41 184,821,563.51 0.5607%
(D) Three-Month Rolling Average (Less than 2%) 1,018,667.47 176,613,445.30 0.5768%
H. NET LOSS RATE
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- ------- -------- ------- ------------
(A) Current 187,635.43 0.00 172,509,386.19 1.3052%
(B) 1st Previous 166,180.81 0.00 180,690,184.73 1.1036%
(C) 2nd Previous 186,051.40 0.00 189,242,617.87 1.1798%
(D) Three-Month Rolling Average Net Default Rate
Less than 3% 179,955.88 0.00 180,814,062.93 1.1943%
</TABLE>
2
<PAGE>
BAY VIEW SECURITIZATION CORPORATION
For Remittance Date: September 30, 1997
<TABLE>
<CAPTION>
I. CHARGE-OFF / RECOVERIES
Number Balance
------ -------
<S> <C> <C> <C> <C>
(A) Collection Period Charge-Off Receivables 25 187,635.43
(B) Gross Charge-Offs Cumulative Receivables 147 1,080,691.42
(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 24 289,919.44
(B) Aggregate Repossessions 274 3,297,797.09
(C) Unliquidated Repossessions 157 1,363,810.64
K. FORCED PLACE INSURANCE
(A) FPI Charge-Offs 0 0.00
(B) FPI Canceled/Waived/Removed/ Reversed 56 192,744.31
L. PAYAHEAD RECONCILIATION
(A) Beginning Balance 837,093.05
(B) Deposit 0.00
(C) Withdrawal 13,530.96
(D) Ending Balance 823,562.09
</TABLE>
Approved By: /s/ Michael A. Benavides
------------------------
Michael A. Benavides
Vice President, Controller
California Thrift & Loan
3
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