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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): May 15, 2000
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
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)
<PAGE>
Item 7. Financial Statements, Pro forma Financial Information and Exhibits
Exhibit 99.1 Monthly Servicer's Report dated April 30, 2000
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 19, 2000 By: /s/ Scott Ray
-------------
Scott Ray
Treasurer and Chief Financial Officer
<PAGE>
Bay View Securitization Corporation
Bay View 1997 RA-1 Auto Trust
For Remittance Date: April 30, 2000
<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 21,106
-----------------------------------------------------------------
(B) Beginning Period Principal Balance 0.00 29,157,991.26 29,157,991.26 3,936
-----------------------------------------------------------------
(C) Collections (Regular Payments) 0.00 1,066,125.13 1,066,125.13 N/A
-----------------------------------------------------------------
(D) Collections (Principal Payoffs) 0.00 725,367.78 725,367.78 191
-----------------------------------------------------------------
(E) Collections (Principal Recoveries) 0.00 0.00 0.00 0
-----------------------------------------------------------------
(F) Withdrawal from Payahead (Principal) 0.00 13,547.85 13,547.85 N/A
-----------------------------------------------------------------
(G) Principal Reductions (Other) 0.00 0.00 0.00 0
-----------------------------------------------------------------
(H) Gross Charge Offs 0.00 50,005.15 50,005.15 6
-----------------------------------------------------------------
(I) Repurchases 0.00 9,253.96 9,253.96 8
-----------------------------------------------------------------
(J) Ending Balance 0.00 27,293,691.39 27,293,691.39 3,731
-----------------------------------------------------------------
Notional Principal Balance:
--------------
(K) Beginning 696,642.24
--------------
(L) Ending 400,498.46
--------------
-----------------------------------------------------
(M) Certificate Factor 0.0000000% 52.2407402% 10.7784352%
-----------------------------------------------------
B. CASH FLOW RECONCILIATION
Total
--------------
(A) Cash Wired 2,131,322.26
--------------
(B) Interest Wired/Earned 11,212.28
--------------
(C) Withdrawal from Payahead Account 13,547.85
--------------
(D) Advances 0.00
--------------
(E) Repurchases 9,253.96
--------------
(F) Gross Charge-Off Recoveries 23,598.10
--------------
(G) Gross Charge-Off Advances 217.55
--------------
(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 2,189,152.00
--------------
C. TRUSTEE DISTRIBUTION
Total
--------------
(A) Total Cash Flow 2,189,152.00
--------------
(B) Unrecovered Interest Advances 213.43
--------------
(C) Servicing Fee (Due and Unpaid) 24,298.33
--------------
(D) Interest to "A-1" Certificate Holders, including Overdue 0.00
--------------
(E) Interest to "A-2" Certificate Holders, including Overdue 160,125.97
--------------
(F) Interest to "I" Certificate Holders, including Overdue 1,828.69
--------------
(G) Principal to "A-1" Certificate Holders, including Overdue 0.00
--------------
(H) Principal to "A-2" Certificate Holders, including Overdue 1.864.299.87
--------------
(I) Reinsurance Fee 0.00
--------------
(J) Surety Bond Fee 3,644.75
--------------
--------------
(K) First Loss Protection 0.00
--------------
(L) Surety Bond Premium 3,644.75
--------------
--------------
(M) Interest Advance Recovery Payments 9,098.37
--------------
(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>
Bay View Securitization Corporation
Bay View 1997 RA-1 Auto Trust
For Remittance Date: April 30, 2000
<TABLE>
<S> <C> <C> <C> <C>
--------------
(R) Bank Account Interest to Servicer 11,212.28
--------------
(S) Excess Yield 114,430.31
--------------
--------------
BALANCE 0.00
--------------
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread Account Surety Bond
---------------------------------
(A) Beginning Balance 3,368,423.30 26,194,570.28
---------------------------------
(B) Additions to Spread Amount 114,430.31 N/A
---------------------------------
(C) Interest Earned 15,511.64 0.00
---------------------------------
(D) Draws 0.00 0.00
---------------------------------
(E) Reimbursement for Prior Draws NA 0.00
---------------------------------
(F) Distribution of Funds to "IC" Class or Servicer 203,110.94 0.00
---------------------------------
(G) Ending Balance 3,295,254.31 26,194,570.28
---------------------------------
---------------------------------
(H) Required Balance 3,165,312.36 26,194,570.28
---------------------------------
(I) Distribution to "IC" Class 129,941.95
---------------
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
-------------------- ----------------------------------
(A) 31-60 24 111,888.64
----------------------------------
(B) 61-90 9 70,273.57
----------------------------------
(C) 91+ 5 47,890.26
----------------------------------
(D) Total 38 230,052.47
----------------------------------
F. EXCESS YIELD
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- ----------------------------------------------------
(A) Current 114,430.31 27,293,691.39 5.0311%
----------------------------------------------------
(B) 1st Previous 187,480.23 29,157,991.26 7.7158%
----------------------------------------------------
(C) 2nd Previous 61,440.17 31,501,274.52 2.3405%
----------------------------------------------------
(D) 3rd Previous 158,129.82 33,724,121.45 5.6267%
----------------------------------------------------
(E) 4th Previous 137,399.69 35,946,774.70 4.5868%
----------------------------------------------------
(F) 5th Previous 133,173.80 38,490,490.46 4.1519%
----------------------------------------------------
(G) Six-Month Rolling Excess Yield (**=1.75%) 132,009.00 32,685,723.96 4.8465%
----------------------------------------------------
G. DELINQUENCY RATE (31+)
Month Pool
Month Balance Balance %
----- ----------------------------------------------------
(A) Current 230,052.47 27,293,691.39 0.8429%
----------------------------------------------------
(B) 1st Previous 193,124.08 29,157,991.26 0.6623%
----------------------------------------------------
(C) 2nd Previous 307,992.28 31,501,274.52 0.9777%
----------------------------------------------------
(D) Three-Month Rolling Average (*2%) 243,722.94 29,317,652.39 0.8313%
----------------------------------------------------
H. NET LOSS RATE
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- -------------------------------------------------------------------
(A) Current 52,253.71 25,846.66 28,225,841.33 1.1227%
-------------------------------------------------------------------
(B) 1st Previous 127,899.35 72,106.09 30,329,632.89 2.2075%
-------------------------------------------------------------------
(C) 2nd Previous 116,827.35 24,176.39 32,612,697.99 3.4091%
-------------------------------------------------------------------
(D) Three-Month Rolling Average Net Default Rate *3% 98,993.47 40,709.71 30,389,390.74 2.3015%
-------------------------------------------------------------------
</TABLE>
* Denotes less than
** Denotes greater than
<PAGE>
Bay View Securitization Corporation
Bay View 1997 RA-1 Auto Trust
For Remittance Date: April 30, 2000
<TABLE>
<CAPTION>
I. CHARGE-OFF / RECOVERIES
Number Balance
----------------------------------
<S> <C> <C>
(A) Collection Period Charge-Off Receivables 6 50,005.15
----------------------------------
(B) Gross Charge-Offs Cumulative Receivables 1,104 8,014,590.37
----------------------------------
(C) Collection Period Recoveries on Charge-Offs NA 23,598.10
----------------------------------
(D) Recoveries on Charge-Offs To-Date NA 1,207,929.03
----------------------------------
J. REPOSSESSIONS
----------------------------------
(A) Collection Period Repossessions 8 51,459.71
----------------------------------
(B) Aggregate Repossessions 690 7,967,020.79
----------------------------------
(C) Unliquidated Repossessions 13 98,420.02
----------------------------------
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 120,074.19
----------------
(B) Deposit 0.00
----------------
(C) Withdrawal 13,547.85
----------------
(D) Ending Balance 106,526.34
----------------
</TABLE>
Approved By: /s/ Michael LaOrange
--------------------
Michael LaOrange
Vice President, Controller
Bay View Acceptance Corp
<PAGE>
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: April 30, 2000
A. PRINCIPAL BALANCE RECONCILIATION
<TABLE>
<CAPTION>
Number
of
A-1 A-2 A-3 A-4 Total Accounts
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(A) Original Principal
Balance 42,750,000.00 97,000,000.00 55,000,000.00 52,023,107.00 246,773,107.00 17,753
-------------------------------------------------------------------------------------------------------
(B) Beginning Period
Principal Balance 8,899,199.05 97,000,000.00 55,000,000.00 52,023,107.00 212,922,306.05 16,343
-------------------------------------------------------------------------------------------------------
(C) Collections
(Regular Payments) 3,627,417.25 0.00 0.00 0.00 3,627,417.25 N/A
-------------------------------------------------------------------------------------------------------
(D) Withdrawal from
Payahead (Principal) 0.00 0.00 0.00 0.00 0.00 N/A
-------------------------------------------------------------------------------------------------------
(E) Collections
(Principal Payoffs) 3,810,348.33 0.00 0.00 0.00 3,810,348.33 350
-------------------------------------------------------------------------------------------------------
(F) Collections
(Principal Recoveries) 55,045.87 0.00 0.00 0.00 55,045.87 N/A
-------------------------------------------------------------------------------------------------------
(G) Charge Offs Amount 379,864.63 0.00 0.00 0.00 379,864.63 30
-------------------------------------------------------------------------------------------------------
(H) Principal Reductions
(Partial Charge-Offs) 6,656.15 0.00 0.00 0.00 6,656.15 N/A
-------------------------------------------------------------------------------------------------------
(I) Repurchases 0.00 0.00 0.00 0.00 0.00 0
-------------------------------------------------------------------------------------------------------
(J) Ending Balance 1,019,866.82 97,000,000.00 55,000,000.00 52,023,107.00 205,042,973.82 15,963
-------------------------------------------------------------------------------------------------------
Notional Principal Balance:
(M) Beginning 152,174,005.46
--------------
(N) Ending 144,684,194.01
-------------------------------------------------------------------------------------------------------
(N) Certificate Factor 2.3856534% 100.000000% 100.000000% 100.000000% 83.0896755% ---
-------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
B. CASH FLOW RECONCILIATION
Total
-----------------
<S> <C>
(A) Cash Wired 10,084,359.47
-----------------
(B) Interest Wired/Earned 45,393.38
-----------------
(C) Withdrawal from Payahead Account 0.00
-----------------
(D) Advances 11,362.27
-----------------
(E) Repurchases 0.00
-----------------
(F) Gross Charge-Off Recoveries 2,558.10
-----------------
(G) Gross Charge-Off Advances 3,143.63
-----------------
(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
-----------------
(L) "A" Surety Bond Draw for "A-3" Principal or Interest 0.00
-----------------
(M) "A" Surety Bond Draw for "A-4" Principal or Interest 0.00
-----------------
-----------------
TOTAL COLLECTIONS 10,146,816.85
-----------------
</TABLE>
<TABLE>
<CAPTION>
C. TRUSTEE DISTRIBUTION
Total
-----------------
<S> <C>
(A) Total Cash Flow 10,146,816.85
-----------------
(B) Unrecovered Interest Advances 3,143.63
-----------------
(C) Servicing Fee (Due and Unpaid) 133,076.44
-----------------
(D) Interest to "A-1" Certificate Holders, including Overdue 42,423.31
-----------------
(E) Interest to "A-2" Certificate Holders, including Overdue 556,133.33
-----------------
(F) Interest to "A-3" Certificate Holders, including Overdue 316,708.33
-----------------
(G) Interest to "A-4" Certificate Holders, including Overdue 306,502.81
-----------------
(H) Interest to "I" Certificate Holders, including Overdue 190,217.51
-----------------
(I) Principal to "A-1" Certificate Holders, including Overdue 7,879,332.23
-----------------
(J) Principal to "A-2" Certificate Holders, including Overdue 0.00
-----------------
(K) Principal to "A-3" Certificate Holders, including Overdue 0.00
-----------------
(L) Principal to "A-4" Certificate Holders, including Overdue 0.00
-----------------
(M) Reinsurance Fee 0.00
-----------------
(N) Surety Bond Fee 39,915.15
-------------------------------------
(O) First Loss Protection 6,793.90
--------------------
(P) Surety Bond Premium 33,121.25
-------------------------------------
(Q) Interest Advance Recovery Payments 0.00
-----------------
</TABLE>
<PAGE>
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: April 30, 2000
<TABLE>
<S> <C>
-----------------
(R) Unreimbursed Draws on Class "A" Surety Bond for Class "A-1" Interest 0.00
-----------------
(S) Unreimbursed Draws on Class "A" Surety Bond for Class "A-2" Interest 0.00
-----------------
(T) Unreimbursed Draws on Class "A" Surety Bond for Class "A-3" Interest 0.00
-----------------
(U) Unreimbursed Draws on Class "A" Surety Bond for Class "A-4" Interest 0.00
-----------------
(V) Unreimbursed Draws on Class "A" Surety Bond for Class "I" Interest 0.00
-----------------
(W) Deposit to Payahead 827.62
-----------------
(X) Bank Account Interest to Servicer 45,393.38
-----------------
(Y) Excess Yield 633,143.11
-----------------
-----------------
BALANCE 0.00
-----------------
</TABLE>
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
<TABLE>
<CAPTION>
Spread Account Surety Bond
----------------------------------
<S> <C> <C>
(A) Beginning Balance 2,552,467.32 212,548,295.99
----------------------------------
(B) Additions to Spread Amount 633,143.11 N/A
----------------------------------
(C) Interest Earned 11,051.31 0.00
----------------------------------
(D) Draws 0.00 0.00
----------------------------------
(E) Reimbursement for Prior Draws N/A 0.00
----------------------------------
(F) Distribution of Funds to "IC" Class or Servicer N/A 0.00
----------------------------------
(G) Prior Month Distribution of Funds to "IC" Class 0.00 N/A
----------------------------------
----------------------------------
(H) Ending Balance 3,196,661.74 204,035,568.23
----------------------------------
----------------------------------
(I) Required Balance 7,984,586.48 204,035,568.23
----------------------------------
(J) Distribution to "IC" Class 0.00
-----------------
</TABLE>
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
--------------------
(A) 31-60 95 996,570.53
------------------------------------
(B) 61-90 37 432,320.71
------------------------------------
(C) 91+ 19 185,665.24
------------------------------------
(D) Total 151 1,614,556.48
------------------------------------
F. EXCESS YIELD
<TABLE>
<CAPTION>
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- ------------------------------------------------------
<S> <C> <C> <C>
(A) Current 633,143.11 205,042,973.82 3.7054%
------------------------------------------------------
(B) 1st Previous 548,170.85 212,922,306.05 3.0894%
------------------------------------------------------
(C) 2nd Previous 399,881.12 222,253,105.32 2.1591%
------------------------------------------------------
(D) 3rd Previous 869,463.56 230,531,230.25 4.5259%
------------------------------------------------------
(E) Four-Month Rolling Excess Yield 612,664.66 217,687,403.86 3.3773%
------------------------------------------------------
</TABLE>
G. DELINQUENCY RATE (30+)
<TABLE>
<CAPTION>
Month Pool
Month Balance Balance %
- ----- ------------------------------------------------------
<S> <C> <C> <C>
(A) Current 1,614,556.48 205,042,973.82 0.7874%
------------------------------------------------------
(B) 1st Previous 1,487,263.92 212,922,306.05 0.6985%
------------------------------------------------------
(C) 2nd Previous 1,468,985.74 222,253,105.32 0.6610%
------------------------------------------------------
(D) 3rd Previous 1,558,139.21 230,531,230.25 0.6759%
------------------------------------------------------
(E) Four-Month Rolling Average 1,532,236.34 217,687,403.86 0.7039%
------------------------------------------------------
</TABLE>
<PAGE>
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: April 30, 2000
H. NET LOSS RATE
<TABLE>
<CAPTION>
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- ---------------------------------------------------------------------
<S> <C> <C> <C> <C>
(A) Current 434,910.50 57,603.97 208,982,639.94 2.1665%
---------------------------------------------------------------------
(B) 1st Previous 378,863.49 34,107.96 217,587,705.69 1.9013%
---------------------------------------------------------------------
(C) 2nd Previous 354,113.77 62,519.91 226,392,167.79 1.5456%
---------------------------------------------------------------------
(D) Three-Month Rolling Average 389,295.92 51,410.61 217,654,171.14 1.8629%
---------------------------------------------------------------------
</TABLE>
I. CHARGE-OFF / RECOVERIES
<TABLE>
<CAPTION>
Number Balance
-------------------------------------
<S> <C> <C>
(A) Collection Period Charge-Off Receivables 30 386,520.78
-------------------------------------
(B) Gross Charge-Offs Cumulative Receivables 101 1,150,518.87
-------------------------------------
(C) Collection Period Recoveries on Charge-Offs NA 2,558.10
-------------------------------------
(D) Recoveries on Charge-Offs To-Date NA 20,248.69
-------------------------------------
</TABLE>
J. REPOSSESSIONS
(A) Collection Period Repossessions 30 406,235.08
-------------------------
(B) Aggregate Repossessions 140 1,951,156.61
-------------------------
(C) Unliquidated Repossessions 49 638,145.21
-------------------------
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 249,364.65
-------------------------
(B) Deposit 827.62
-------------------------
(C) Withdrawal 0.00
-------------------------
(D) Ending Balance 250,192.27
-------------------------
Approved By: /s/ Michael LaOrange
---------------------
Michael LaOrange
Vice President, Controller
Bay View Acceptance Corp
<PAGE>
Bay View Securitization Corporation
Bay View 2000 LJ-1 Auto Trust
For Remittance Date: April 30, 2000
<TABLE>
<CAPTION>
A. PRINCIPAL BALANCE RECONCILIATION
Number
of
A-1 A-2 A-3 A-4 Total Accounts
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
(A) Original Principal Balance 64,000,000.00 132,000,000.00 80,000,000.00 80,559,839.00 356,559,839.00 20,329
----------------------------------------------------------------------------------------
(B) Beginning Period Principal Balance 49,765,397.68 132,000,000.00 80,000,000.00 80,559,839.00 342,325,236.68 19,891
----------------------------------------------------------------------------------------
(C) Collections (Regular Payments) 5,626,738.17 0.00 0.00 0.00 5,626,738.17 N/A
----------------------------------------------------------------------------------------
(D) Withdrawal from Payahead 21,144.84 0.00 0.00 0.00 21,144.84 N/A
----------------------------------------------------------------------------------------
(E) Collections (Principal Payoffs) 5,930,670.41 0.00 0.00 0.00 5,930,670.41 350
----------------------------------------------------------------------------------------
(F) Net Liquidation Proceeds 8,126.38 0.00 0.00 0.00 8,126.38 N/A
----------------------------------------------------------------------------------------
(G) Charge Off Amount 117,074.42 0.00 0.00 0.00 117,074.42 8
----------------------------------------------------------------------------------------
(H) Partial Charge-Offs 0.00 0.00 0.00 0.00 0.00 N/A
----------------------------------------------------------------------------------------
(I) Repurchases 0.00 0.00 0.00 0.00 0.00 0
----------------------------------------------------------------------------------------
(J) Ending Balance 38,061,643.46 132,000,000.00 80,000,000.00 80,559,839.00 330,621,482.46 19,533
----------------------------------------------------------------------------------------
-------------------------------------------------------------------------------
(K) Certificate Factor 59.471318% 100.000000% 100.000000% 100.000000% 92.725385%
-------------------------------------------------------------------------------
B. CASH FLOW RECONCILIATION
Totals
-------------
(A) Cash Wired 14,189,163.46
-------------
(B) Interest Wired 50,157.13
-------------
(C) Withdrawal from Payahead Account 21,144.84
-------------
(D) Advances 0.00
-------------
(E) Repurchases 0.00
-------------
(F) Gross Charge-Off Recoveries 0.00
-------------
(G) Gross Charge-Off Advances 247.05
-------------
(H) Spread Account Withdrawal 0.00
-------------
(I) "A" Surety Bond Draw for "A-1" Principal or Interest 0.00
-------------
(J) "A" Surety Bond Draw for "A-2" Principal or Interest 0.00
-------------
(K) "A" Surety Bond Draw for "A-3" Principal or Interest 0.00
-------------
(L) "A" Surety Bond Draw for "A-4" Principal or Interest 0.00
-------------
-------------
TOTAL COLLECTIONS 14,260,712.48
-------------
C. TRUSTEE DISTRIBUTION
Total
-------------
(A) Total Cash Flow 14,260,712.48
-------------
(B) Unrecovered Interest Advances 247.05
-------------
(C) Servicing Fee (Due and Unpaid) 213,953.27
-------------
(D) Interest to "A-1" Certificate Holders, including Overdue 258,582.67
-------------
(E) Interest to "A-2" Certificate Holders, including Overdue 829,400.00
-------------
(F) Interest to "A-3" Certificate Holders, including Overdue 509,333.33
-------------
(G) Interest to "A-4" Certificate Holders, including Overdue 512,897.64
-------------
(H) Principal to "A-1" Certificate Holders, including Overdue 11,703,754.22
-------------
(I) Principal to "A-2" Certificate Holders, including Overdue 0.00
-------------
(J) Principal to "A-3" Certificate Holders, including Overdue 0.00
-------------
(K) Principal to "A-4" Certificate Holders, including Overdue 0.00
-------------
(L) Surety Bond Fee 57,054.21
-------------
(M) Interest Advance Recovery Payments 313.81
-------------
(N) Unreimbursed Draws on Class "A" Surety Bond for Class "A-1" Int or Prin 0.00
-------------
(O) Unreimbursed Draws on Class "A" Surety Bond for Class "A-2" Int or Prin 0.00
-------------
(P) Unreimbursed Draws on Class "A" Surety Bond for Class "A-3" Int or Prin 0.00
-------------
(Q) Unreimbursed Draws on Class "A" Surety Bond for Class "A-4" Int or Prin 0.00
-------------
(R) Deposit to Payahead 0.00
-------------
(S) Bank Account Interest to Servicer 50,157.13
-------------
(T) Excess Yield 125,019.15
-------------
</TABLE>
<PAGE>
<TABLE>
-------------
BALANCE 0.00
-------------
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread
Account Surety Bond
-------------------------------
<S> <C> <C>
(A) Beginning Balance 506,920.69 17,362,394.00
-------------------------------
(B) Additions to Spread Amount 125,019.15 N/A
-------------------------------
(C) Interest Earned 497.97 0.00
-------------------------------
(D) Draws 0.00 0.00
-------------------------------
(E) Reimbursement for Prior Draws N/A 0.00
-------------------------------
(F) Distribution of Funds to Servicer N/A 0.00
-------------------------------
(G) Prior Month Distribution of Funds to "IC' Certificate Holder 0.00 N/A
-------------------------------
(H) Ending Balance 632,437.81 17,362,394.00
-------------------------------
-------------------------------
(I) Required Balance 4,456,997.99 17,362,394.00
-------------------------------
(J) Current Month Distribution of Funds to "IC" Certificate holder 0.00
------------
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
-------------------- ------------------------
(A) 30-59 45 588,305.19
------------------------
(B) 60-89 21 331,035.41
------------------------
(C) 90+ 1 24,731.68
------------------------
(D) Total 67 944,072.28
------------------------
F. EXCESS YIELD
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- ---------------------------------------------------
(A) Current 125,019.15 330,621,482.46 0.4538%
---------------------------------------------------
(B) 1st Previous 506,920.69 342,325,236.68 1.7770%
---------------------------------------------------
(C) 2nd Previous 0.00 0.00 0.0000%
---------------------------------------------------
(D) 3rd Previous 0.00 0.00 0.0000%
---------------------------------------------------
(E) Four-Month Rolling Excess Yield 315,969.92 336,473,359.57 1.1269%
---------------------------------------------------
G. DELINQUENCY RATE (30+)
Month Pool
Month Balance Balance &
----- ---------------------------------------------------
(A) Current 944,072.28 330,621,482.46 0.2855%
---------------------------------------------------
(B) 1st Previous 712,341.40 342,325,236.68 0.2081%
---------------------------------------------------
(C) 2nd Previous 0.00 0.00 0.0000%
---------------------------------------------------
(D) 3rd Previous 0.00 0.00 0.0000%
---------------------------------------------------
(E) Four-Month Rolling Average 828,206.84 336,473,359.57 0.2461%
---------------------------------------------------
H. NET LOSS RATE
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- ------------------------------------------------------------
(A) Current 125,200.80 8,126.38 336,473,359.57 0.4175%
------------------------------------------------------------
(B) 1st Previous 13,118.99 12,978.97 349,442,537.84 0.0005%
------------------------------------------------------------
(C) 2nd Previous 0.00 0.00 0.00 0.0000%
------------------------------------------------------------
(D) Three-Month Rolling Average 69,159.90 10,552.68 342,957,948.71 0.2051%
------------------------------------------------------------
I. CHARGE-OFF / RECOVERIES
Number Balance
---------------------------
(A) Collection Period Charge-Off Receivables 8 117,074.42
---------------------------
(B) Gross Charge-Offs Cumulative Receivables 9 117,214.44
---------------------------
(C) Collection Period Recoveries on Charge-Offs NA 0.00
---------------------------
(D) Recoveries on Charge-Offs To-Date NA 0.00
---------------------------
</TABLE>
<PAGE>
J. REPOSSESSIONS
-------------------------
(A) Collection Period Repossessions 15 219,132.35
-------------------------
(B) Aggregate Repossessions 26 463,327.48
-------------------------
(C) Unliquidated Repossessions 17 247,150.58
-------------------------
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 250,968.09
----------
(B) Deposit 0.00
----------
(C) Withdrawal 21,144.84
----------
(D) Ending Balance 229,823.25
----------
Approved By: /s/ Michael LaOrange
--------------------
Michael LaOrange
Vice President, Controller
Bay View Acceptance Corp
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