<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): January 18, 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 incorporation (Commission File No.) (I.R.S. Employer Identification No.)
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, (650) 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 December 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 1999 - LG - 1 AUTO TRUST
BY: BAY VIEW SECURITIZATION CORPORATION
ORIGINATOR OF TRUST
Dated: January 21, 2000 By: /s/ David A. Heaberlin
----------------------
David A. Heaberlin
Treasurer and Chief Financial Officer
<PAGE>
EXHIBIT 99.1
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: December 31, 1999
<TABLE>
<CAPTION>
A. PRINCIPAL BALANCE RECONCILIATION
Number
A-1 A-2 A-3 A-4 Total of
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 17753
--------------------------------------------------------------------------------------
(B) Beginning Period Principal Balance 42,750,000.00 97,000,000.00 55,000,000.00 52,023,107.00 246,773,107.00 17753
--------------------------------------------------------------------------------------
(C) Collections (Regular Payments) 4,512,605.73 0.00 0.00 0.00 4,512,605.73 N/A
--------------------------------------------------------------------------------------
(D) Collections (Principal Payoffs) 4,116,127.31 0.00 0.00 0.00 4,116,127.31 309
--------------------------------------------------------------------------------------
(E) Collections (Principal Recoveries) 0.00 0.00 0.00 0.00 0.00 N/A
--------------------------------------------------------------------------------------
(F) Withdrawal from Payahead (Principal) 0.00 0.00 0.00 0.00 0.00 N/A
--------------------------------------------------------------------------------------
(G) Principal Reductions (Other) 0.00 0.00 0.00 0.00 0.00 N/A
--------------------------------------------------------------------------------------
(H) Gross Charge Offs 7,855.99 0.00 0.00 0.00 7,855.99 1
--------------------------------------------------------------------------------------
(I) Repurchases 0.00 0.00 0.00 0.00 0.00 0
--------------------------------------------------------------------------------------
(J) Ending Balance 34,113,410.97 97,000,000.00 55,000,000.00 52,023,107.00 238,136,517.97 17443
--------------------------------------------------------------------------------------
Notional Principal Balance:
----------------
(K) Beginning 184,645,581.57
----------------
(L) Ending 176,016,848.30
----------------
-----------------------------------------------------------------------------
(M) Certificate Factor 79.7974526% 100.000000% 100.000000% 100.000000% 96.5001903%
-----------------------------------------------------------------------------
B. CASH FLOW RECONCILIATION
Total
----------------
(A) Cash Wired 11,021,282.87
----------------
(B) Interest Wired/Earned 0.00
----------------
(C) Withdrawal from Payahead Account 0.00
----------------
(D) Advances 336,014.58
----------------
(E) Repurchases 0.00
----------------
(F) Gross Charge-Off Recoveries 0.00
----------------
(G) Gross Charge-Off Advances 2,462.48
----------------
(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 11,359,759.93
----------------
C. TRUSTEE DISTRIBUTION
Total
----------------
(A) Total Cash Flow 11,359,759.93
----------------
(B) Unrecovered Interest Advances 2,462.48
----------------
(C) Servicing Fee (Due and Unpaid) 89,554.76
----------------
(D) Interest to "A-1" Certificate Holders, including Overdue 254,741.55
----------------
(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 230,806.98
----------------
(I) Principal to "A-1" Certificate Holders, including Overdue 8,636,589.03
----------------
(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 63,578.35
----------------------------
(O) First Loss Protection 15,594.69
-------------
(P) Surety Bond Premium 47,983.66
----------------------------
(Q) Interest Advance Recovery Payments 0.00
----------------
</TABLE>
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<PAGE>
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: December 31, 1999
<TABLE>
----------------
<S> <C> <C> <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 225,830.18
----------------
(X) Bank Account Interest to Servicer 0.00
----------------
(Y) Excess Yield 676,852.13
----------------
----------------
BALANCE 0.00
----------------
D. SPREAD ACCOUNT AND SURETY RECONCILIATION
Spread Account Surety Bond
---------------- ---------------
(A) Beginning Balance 0.00 246,773,107.00
---------------- ---------------
(B) Additions to Spread Amount 676,852.13 N/A
---------------- ---------------
(C) Interest Earned 0.00 N/A
---------------- ---------------
(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 676,852.13 239,955,644.16
---------------- ---------------
---------------- ----------------
(I) Required Balance 9,253,991.51 239,955,644.16
----------------
(J) Distribution to "IC" Class 0.00
----------------
E. CURRENT RECEIVABLES DELINQUENCY
#Payment Delinquency Number Balance
-------------------- ------------- ----------------
(A) 31-60 78 939,525.21
------------- ----------------
(B) 61-90 1 19,251.94
------------- ----------------
(C) 91+ 0 0.00
------------- ----------------
(D) Total 79 958,777.15
------------- ----------------
F. EXCESS YIELD
Excess Yield Pool Excess Yield
Month Balance Balance (Annualized %)
----- ------------- ---------------- ----------------
(A) Current 676,852.13 238,136,517.97 3.4107%
------------- ---------------- ----------------
(B) 1st Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(C) 2nd Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(D) 3rd Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(E) Four-Month Rolling Excess Yield 169,213.03 59,534,129.49 3.4107%
------------- ---------------- ----------------
G. DELINQUENCY RATE (30+)
Month Pool
Month Balance Balance %
----- ------------- ---------------- ----------------
(A) Current 958,777.15 238,136,517.97 0.4026%
------------- ---------------- ----------------
(B) 1st Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(C) 2nd Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(D) 3rd Previous 0.00 0.00 0.0000%
------------- ---------------- ----------------
(E) Four-Month Rolling Average 239,694.29 59,534,129.49 0.4026%
------------- ---------------- ----------------
</TABLE>
Page 4
<PAGE>
Bay View Securitization Corporation
Bay View 1999-LG-1 Auto Trust
For Remittance Date: December 31, 1999
H. NET LOSS RATE
<TABLE>
<CAPTION>
Liquidation Average Defaulted
Month Balance Proceeds Balance (Annualized)
----- ----------- ----------- --------------- ----------
<S> <C> <C> <C> <C>
(A) Current 22,625.72 14,769.73 119,068,259.00 0.0792%
----------- ----------- --------------- ----------
(B) 1st Previous 0.00 0.00 0.00 0.0000%
----------- ----------- --------------- ----------
(C) 2nd Previous 0.00 0.00 0.00 0.0000%
----------- ----------- --------------- ----------
(D) Three-Month Rolling Average 7,541.91 4,923.24 39,689,419.67 0.0792%
----------- ----------- --------------- ----------
I. CHARGE-OFF / RECOVERIES
Number Balance
----------- -----------
(A) Collection Period Charge-Off Receivables 1 7,855.99
----------- -----------
(B) Gross Charge-Offs Cumulative Receivables 1 7,855.99
----------- -----------
(C) Collection Period Recoveries on Charge-Offs NA 0.00
----------- -----------
(D) Recoveries on Charge-Offs To-Date NA 0.00
----------- -----------
J. REPOSSESSIONS
----------- -----------
(A) Collection Period Repossessions 11 174,831.83
----------- -----------
(B) Aggregate Repossessions 11 174,831.83
----------- -----------
(C) Unliquidated Repossessions 11 174,831.83
----------- -----------
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 0.00
-----------
(B) Deposit 225,830.18
-----------
(C) Withdrawal 0.00
-----------
(D) Ending Balance 225,830.18
-----------
</TABLE>
Approved By: /s/ Michael LaOrange
---------------------
Michael LaOrange
Vice President, Controller
Bay View Acceptance Corp
Page 5