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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): February 15, 1999
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
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) 573-7310
2121 So. El Camino Real, San Mateo, California 94403, (415) 573-7310
- ------------------------------------------------------------------------------------------------------------------------------------
(Former name, former address, and former fiscal year, if changed since last report)
</TABLE>
<PAGE>
Item 7. Financial Statements, Pro forma Financial Information and Exhibits
Exhibit 99.1 Monthly Servicer's Report dated January 31, 1999
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: February 18, 1999 By: /s/ David A. Heaberlin
-------------------------
David A. Heaberlin
Treasurer and Chief Financial Officer
Page 2
<PAGE>
Bay View Securitization Corporation
For Remittance Date: January 31, 1999
EXHIBIT 99.1
<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 23,645,083.78 52,245,989.00 75,891,072.78 8516
--------------------------------------------------------------------
(C) Collections (Regular Payments) 2,190,998.83 0.00 2,190,998.83 N/A
--------------------------------------------------------------------
(D) Collections (Principal Payoffs) 1,739,027.33 0.00 1,739,027.33 350
--------------------------------------------------------------------
(E) Collections (Principal Recoveries) 0.00 0.00 0.00
--------------------------------------------------------------------
(F) Withdrawal from Payahead (Principal) 39,293.12 0.00 39,293.12 N/A
--------------------------------------------------------------------
(G) Principal Reductions (Other) 0.00 0.00 0.00 0
--------------------------------------------------------------------
(H) Gross Charge Offs 137,514.26 0.00 137,514.26 26
--------------------------------------------------------------------
(I) Repurchases 19,309.86 0.00 19,309.86 16
--------------------------------------------------------------------
(J) Ending Balance 19,518,940.38 52,245,989.00 71,764,929.38 8124
--------------------------------------------------------------------
Notional Principal Balance:
(K) Beginning 18,200,792.25
-----------------
(L) Ending 15,451,771.80
-----------------
(M) Certificate Factor 9.7119303% 100.0000000% 28.3403821%
---------------------------------------------------------
B. CASH FLOW RECONCILIATION
Total
-----------------
(A) Cash Wired 4,701,236.54
-----------------
(B) Interest Wired/Earned 13,978.82
-----------------
(C) Withdrawal from Payahead Account 39,293.12
-----------------
(D) Advances 0.00
-----------------
(E) Repurchases 19,309.86
-----------------
(F) Gross Charge-Off Recoveries 26,584.01
-----------------
(G) Gross Charge-Off Advances 11,271.24
-----------------
(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 4,811,673.59
-----------------
C. TRUSTEE DISTRIBUTION
Total
-----------------
(A) Total Cash Flow 4,811,673.59
-----------------
(B) Unrecovered Interest Advances 11,152.28
-----------------
(C) Servicing Fee (Due and Unpaid) 63,242.56
-----------------
(D) Interest to "A-1" Certificate Holders,
including Overdue 123,939.65
-----------------
(E) Interest to "A-2" Certificate Holders,
including Overdue 286,917.56
-----------------
(F) Interest to "I" Certificate Holders,
including Overdue 47,777.08
-----------------
(G) Principal to "A-1" Certificate Holders,
including Overdue 4,126,143.40
-----------------
(H) Principal to "A-2" Certificate Holders,
including Overdue 0.00
-----------------
(I) Reinsurance Fee 0.00
-----------------
(J) Surety Bond Fee 9,486.38
-----------------
(K) First Loss Protection 0.00
---------------
(L) Surety Bond Premium 9,486.38
---------------
(M) Interest Advance Recovery Payments 72,220.06
-----------------
(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>
Page 3
<PAGE>
Bay View Securitization Corporation
For Remittance Date: January 31, 1999
<TABLE>
<CAPTION>
<S> <C> <C>
(R) Bank Account Interest to Servicer 13,978.82
----------------
(S) Excess Yield 56,815.80
----------------
BALANCE 0.00
----------------
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread Account Surety Bond
--------------------------------
(A) Beginning Balance 3,431,059.16 73,282,113.67
--------------------------------
(B) Additions to Spread Amount 56,815.80 N/A
--------------------------------
(C) Interest Earned 10,834.86
--------------------------------
(D) Draws 0.00 0.00
--------------------------------
(E) Reimbursement for Prior Draws N/A 0.00
--------------------------------
(F) Distribution of Funds to "IC"
Class or Servicer 265,746.80 0.00
--------------------------------
(G) Ending Balance 3,232,963.02 69,121,493.86
--------------------------------
(H) Required Balance 3,165,312.36 69,121,493.86
--------------------------------
(I) Distribution to "IC" Class 67,650.66
---------------
E. CURRENT RECEIVABLES DELINQUENCY
# Payment Delinquency Number Balance
--------------------- ----------------------------------
(A) 31-60 41 390,402.39
----------------------------------
(B) 61-90 17 125,822.95
----------------------------------
(C) 91+ 11 95,064.45
----------------------------------
(D) Total 69 613,289.79
----------------------------------
F. EXCESS YIELD
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- --------------------------------------------------
(A) Current 56,815.80 71,764,929.38 0.9500%
--------------------------------------------------
(B) 1st Previous 254,395.50 75,891,072.78 4.0225%
--------------------------------------------------
(C) 2nd Previous 145,771.11 80,033,853.14 2.1856%
--------------------------------------------------
(D) 3rd Previous 232,975.37 84,674,433.84 3.3017%
--------------------------------------------------
(E) 4th Previous 181,861.21 89,403,377.72 2.4410%
--------------------------------------------------
(F) 5th Previous 176,842.63 94,550,507.02 2.2444%
--------------------------------------------------
(G) Six-Month Rolling Excess Yield
(less than or equal to 1.75%) 174,776.94 82,719,695.65 2.5355%
--------------------------------------------------
G. DELINQUENCY RATE (31+)
Month Pool
Month Balance Balance %
----- --------------------------------------------------
(A) Current 613,289.79 71,764,929.38 0.8546%
--------------------------------------------------
(B) 1st Previous 482,266.15 75,891,072.78 0.6355%
--------------------------------------------------
(C) 2nd Previous 569,063.63 80,033,853.14 0.7110%
--------------------------------------------------
(D) Three-Month Rolling Average
(greater than 2%) 554,873.19 75,896,618.43 0.7311%
--------------------------------------------------
H. NET LOSS RATE
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- ---------------------------------------------------------------------
(A) Current 202,823.28 91,893.03 73,828,001.08 1.8031%
---------------------------------------------------------------------
(B) 1st Previous 306,311.47 128,171.24 77,962,462.96 2.7419%
---------------------------------------------------------------------
(C) 2nd Previous 245,637.32 98,011.63 82,354,143.49 2.1511%
---------------------------------------------------------------------
(D) Three-Month Rolling Average
Net Default Rate (greater than 3%) 251,590.69 106,025.30 78,048,202.51 2.2381%
---------------------------------------------------------------------
</TABLE>
Page 4
<PAGE>
Bay View Securitization Corporation
For Remittance Date: January 31, 1999
<TABLE>
<CAPTION>
<S> <C> <C>
I. CHARGE-OFF / RECOVERIES
Number Balance
---------------------------------------------
(A) Collection Period Charge-Off
Receivables 26 137,514.26
---------------------------------------------
(B) Gross Charge-Offs Cumulative
Receivables 897 6,391,247.41
---------------------------------------------
(C) Collection Period Recoveries
on Charge-Offs NA 26,584.01
---------------------------------------------
(D) Recoveries on Charge-Offs To-Date NA 738,379.49
---------------------------------------------
J. REPOSSESSIONS
(A) Collection Period Repossessions 6 62,431.84
---------------------------------------------
(B) Aggregate Repossessions 578 6,707,053.04
---------------------------------------------
(C) Unliquidated Repossessions 11 112,212.32
---------------------------------------------
K. FORCED PLACE INSURANCE
(A) FPI Charge-Offs 0 0.00
---------------------------------------------
(B) FPI Canceled/Waived/Removed/Reversed 0 0.00
---------------------------------------------
L. PAYAHEAD RECONCILIATION
(A) Beginning Balance 365,397.53
----------------------
(B) Deposit 0.00
----------------------
(C) Withdrawal 39,293.12
----------------------
(D) Ending Balance 326,104.41
----------------------
</TABLE>
Approved By: /s/ Michael A. Benavides
------------------------
Michael A. Benavides
Vice President, Controller
Bay View Acceptance Corp
Page 5
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