<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): May 17, 1999
BAY VIEW SECURITIZATION CORPORATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
<TABLE>
<CAPTION>
<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>
<TABLE>
<S> <C>
c/o Bay View Bank
1840 Gateway Drive
San Mateo, California 94404
- --------------------------------------- -----------------------------------
Address of principal executive offices Zip Code
</TABLE>
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)
<PAGE>
Item 7. Financial Statements, Pro forma Financial Information and Exhibits
Exhibit 99.1 Monthly Servicer's Report dated April 30, 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: May 27, 1999 By: /s/ David A. Heaberlin
----------------------
David A. Heaberlin
Treasurer and Chief Financial Officer
Page 2
<PAGE>
EXHIBIT 99.1
Bay View Securitization Corporation
For Remittance Date: April 30, 1999
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 21106
------------------------------------------------------------------
(B) Beginning Period Principal Balance 11,692,989.92 52,245,989.00 63,938,978.92 7364
------------------------------------------------------------------
(C) Collections (Regular Payments) 1,990,578.09 0.00 1,990,578.09 N/A
------------------------------------------------------------------
(D) Collections (Principal Payoffs) 1,806,355.55 0.00 1,806,355.55 342
------------------------------------------------------------------
(E) Collections (Principal Recoveries) 0.00 0.00 0.00
------------------------------------------------------------------
(F) Withdrawal from Payahead (Principal) 31,380.29 0.00 31,380.29 N/A
------------------------------------------------------------------
(G) Principal Reductions (Other) 0.00 0.00 0.00 0
------------------------------------------------------------------
(H) Gross Charge Offs 138,396.14 0.00 138,396.14 16
------------------------------------------------------------------
(I) Repurchases 24,750.23 0.00 24,750.23 13
------------------------------------------------------------------
(J) Ending Balance 7,701,529.62 52,245,989.00 59,947,518.62 6993
------------------------------------------------------------------
Notional Principal Balance:
(K) Beginning 11,078,468.47
-----------------
(L) Ending 9,309,440.84
-----------------
-------------------------------------------------
(M) Certificate Factor 3.8320071% 100.0000000% 23.6736188%
-------------------------------------------------
</TABLE>
B. CASH FLOW RECONCILIATION
<TABLE>
<CAPTION>
Total
<S> <C> <C>
-----------------
(A) Cash Wired 4,495,884.53
-----------------
(B) Interest Wired/Earned 12,384.25
-----------------
(C) Withdrawal from Payahead Account 31,380.29
-----------------
(D) Advances 0.00
-----------------
(E) Repurchases 24,750.23
-----------------
(F) Gross Charge-Off Recoveries 37,037.39
-----------------
(G) Gross Charge-Off Advances 4,689.54
-----------------
(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 4,606,126.23
-----------------
</TABLE>
C. TRUSTEE DISTRIBUTION
<TABLE>
<CAPTION>
Total
<S> <C> <C>
-----------------
(A) Total Cash Flow 4,606,126.23
-----------------
(B) Unrecovered Interest Advances 4,597.16
-----------------
(C) Servicing Fee (Due and Unpaid) 53,282.48
-----------------
(D) Interest to "A-1" Certificate Holders, including Overdue 61,290.76
-----------------
(E) Interest to "A-2" Certificate Holders, including Overdue 286,917.56
-----------------
(F) Interest to "I" Certificate Holders, including Overdue 29,080.98
-----------------
(G) Principal to "A-1" Certificate Holders, including Overdue 3,991,460.30
-----------------
(H) Principal to "A-2" Certificate Holders, including Overdue 0.00
-----------------
(I) Reinsurance Fee 0.00
-----------------
(J) Surety Bond Fee 7,992.37
-----------------
-----------------------
(K) First Loss Protection 0.00
-----------------------
(L) Surety Bond Premium 7,992.37
-----------------------
-----------------
(M) Interest Advance Recovery Payments 79,074.62
-----------------
(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: April 30, 1999
<TABLE>
<S> <C>
-----------------
(R) Bank Account Interest to Servicer 12,384.25
-----------------
(S) Excess Yield 80,045.75
-----------------
-----------------
BALANCE 0.00
-----------------
</TABLE>
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
<TABLE>
<CAPTION>
Spread Account Surety Bond
----------------------------------------
<S> <C> <C>
(A) Beginning Balance 3,346,461.55 61,235,262.06
----------------------------------------
(B) Additions to Spread Amount 80,045.75 N/A
----------------------------------------
(C) Interest Earned 10,094.84
----------------------------------------
(D) Draws 0.00 0.00
----------------------------------------
(E) Reimbursement for Prior Draws N/A 0.00
----------------------------------------
(F) Distribution of Funds to "IC" Class or Servicer 181,149.19 0.00
----------------------------------------
(G) Ending Balance 3,255,452.95 57,212,778.03
----------------------------------------
----------------------------------------
(H) Required Balance 3,165,312.36 57,212,778.03
----------------------------------------
(I) Distribution to "IC" Class 90,140.59
-----------------------
</TABLE>
E. CURRENT RECEIVABLES DELINQUENCY
<TABLE>
<CAPTION>
#Payment Delinquency Number Balance
--------------------
<S> <C> <C>
---------------------------------------------
(A) 31-60 35 308,459.42
---------------------------------------------
(B) 61-90 12 82,342.67
---------------------------------------------
(C) 91+ 3 42,663.21
---------------------------------------------
(D) Total 50 433,465.30
---------------------------------------------
</TABLE>
F. EXCESS YIELD
<TABLE>
<CAPTION>
Excess Yield Balance Pool Excess Yield
Month Balance (Annualized %)
-----
<S> <C> <C> <C>
--------------------------------------------------------------
(A) Current 80,045.75 59,947,518.62 1.6023%
--------------------------------------------------------------
(B) 1st Previous 170,699.83 63,938,978.92 3.2037%
--------------------------------------------------------------
(C) 2nd Previous 26,313.08 68,163,750.56 0.4632%
--------------------------------------------------------------
(D) 3rd Previous 56,815.80 71,764,929.38 0.9500%
--------------------------------------------------------------
(E) 4th Previous 254,395.50 75,891,072.78 4.0225%
--------------------------------------------------------------
(F) 5th Previous 145,771.11 80,033,853.14 2.1856%
--------------------------------------------------------------
(G) Six-Month Rolling Excess Yield (greater than =1.75%) 122,340.18 69,956,683.90 2.0986%
--------------------------------------------------------------
</TABLE>
G. DELINQUENCY RATE (31+)
<TABLE>
<CAPTION>
Month Pool
Month Balance Balance %
-----
<S> <C> <C> <C>
--------------------------------------------------------------
(A) Current 433,465.30 59,947,518.62 0.7231%
--------------------------------------------------------------
(B) 1st Previous 356,175.93 63,938,978.92 0.5571%
--------------------------------------------------------------
(C) 2nd Previous 576,255.86 68,163,750.56 0.8454%
--------------------------------------------------------------
(D) Three-Month Rolling Average (Less than 2%) 455,299.03 64,016,749.37 0.7112%
--------------------------------------------------------------
</TABLE>
H. NET LOSS RATE
<TABLE>
<CAPTION>
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
-----
<S> <C> <C> <C> <C>
(A) Current 179,951.32 78,592.57 61,943,248.77 1.9636%
----------------------------------------------------------------------------
(B) 1st Previous 230,894.62 113,284.69 66,051,364.74 2.1367%
----------------------------------------------------------------------------
(C) 2nd Previous 202,287.18 54,904.94 69,964,339.97 2.5278%
----------------------------------------------------------------------------
(D) Three-Month Rolling Average Net Default Rate
Less than 3% 204,377.71 82,260.73 65,986,317.83 2.2208%
----------------------------------------------------------------------------
</TABLE>
Page 4
<PAGE>
Bay View Securitization Corporation
For Remittance Date: April 30, 1999
<TABLE>
<CAPTION>
I. CHARGE-OFF / RECOVERIES
Number Balance
------------------------------------
<S> <C> <C>
(A) Collection Period Charge-Off Receivables 16 138,396.14
------------------------------------
(B) Gross Charge-Offs Cumulative Receivables 956 6,860,665.59
------------------------------------
(C) Collection Period Recoveries on Charge-Offs NA 37,037.39
------------------------------------
(D) Recoveries on Charge-Offs To-Date NA 841,446.75
------------------------------------
J. REPOSSESSIONS
------------------------------------
(A) Collection Period Repossessions 7 90,535.70
------------------------------------
(B) Aggregate Repossessions 611 7,155,883.40
------------------------------------
(C) Unliquidated Repossessions 9 117,571.64
------------------------------------
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 309,928.61
-------------
(B) Deposit 0.00
-------------
(C) Withdrawal 31,380.29
-------------
(D) Ending Balance 278,548.32
-------------
</TABLE>
Approved By: /s/ Michael A. Benavides
------------------------
Michael A. Benavides
Vice President, Controller
Bay View Acceptance Corp
Page 5