8-K

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): June 25, 2005

BAY VIEW SECURITIZATION CORPORATION

(Exact name of registrant as specified in charter)

Delaware	333-30048	93-1225376
State or other jurisdiction of incorporation or organization	(Commission File No.)	(I.R.S. Employer Identification No.)

1840 Gateway Drive
San Mateo, California	94404
Address of principal executive offices	Zip Code

Registrant’s telephone number, including area code: (650) 312-6857

(Former name, former address, and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 9.01 Financial Statements and Exhibits

(c) Exhibit

Exhibit 99.1 Monthly Servicing Report for the Collection Period ending May 31, 2005

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 2002-LJ-1 OWNER TRUST
	BY:	BAY VIEW SECURITIZATION CORPORATION
		ORIGINATOR OF TRUST
Dated: June 25, 2005	by:	/s/ Lisa Staab
		Lisa Staab
		VP, Controller

EX-99.1

Exhibit 99.1

Bay View Securitization Corporation
Bay View 2002 LJ-1 Owner Trust
For Payment Date: June 27, 2005
For Collection Period: May 2005
For Determination Date: June 15, 2005

A.	PRINCIPAL BALANCE RECONCILIATION	A-1			A-2			A-3			A-4			# LOANS			TOTAL			LOAN BALANCE
(A)	Original Principal Balance		65,800,000.00			129,000,000.00			171,000,000.00			87,410,907.00			20,885			453,210,907.00			453,210,907.00
(B)	Beginning Balance		0.00			0.00			12,201,023.82			87,410,907.00			7,499			99,611,930.82			99,611,930.82
(C)	Collections (Regular Payments)		0.00			0.00			2,604,430.85			0.00			N/A			2,604,430.85			2,604,430.85
(D)	Withdrawal from Payahead (Principal)		0.00			0.00			1,676.98			0.00			N/A			1,676.98			1,676.98
(E)	Collections (Principal Payoffs)		0.00			0.00			2,771,843.12			0.00			282			2,771,843.12			2,771,843.12
(F)	Gross Charge Offs (Prior Mo. End Bal)		0.00			0.00			272,529.06			0.00			20			272,529.06			272,529.06
(G)	Principal Reductions (Other)(Partial chg-off)		0.00			0.00			2,469.88			0.00			N/A			2,469.88			2,469.88
(H)	Repurchases		0.00			0.00			0.00			0.00			0			0.00			0.00
(I)	Ending Balance		0.00			0.00			6,548,073.93			87,410,907.00			7,197			93,958,980.93			93,958,980.93
(J)	Certificate Factor		0.000000	%		0.000000	%		3.829283	%		100.000000	%		34.460139	%		20.731845	%		20.731845	%
Notional Principal Balance: Class I
(K)	Beginning																				14,017,376.00
(L)	Reduction																				2,825,809.00
(M)	Ending																				11,191,567.00
Notional Principal Balance: Companion Component
(N)	Beginning																				85,612,554.82
(O)	Reduction																				2,845,140.89
(P)	Ending																				82,767,413.93
B.	CASH FLOW RECONCILIATION																			TOTALS
(A)	CASH WIRED-PRINCIPAL AND INTEREST COLLECTIONS																				6,242,953.19
(B)	INTEREST WIRED — COLLECTION ACCOUNT & PAYAHEAD ACCOUNT																				17,696.21
(C)	WITHDRAWAL FROM PAYAHEAD ACCOUNT																				0.00
	1) allocable to principal																				1,676.98
	2) allocable to interest																				0.00
(D)	ADVANCES																				11,013.21
(E)	REPURCHASES																				0.00
(F)	GROSS CHARGE OFF RECOVERIES																				157,347.20
(G)	SPREAD ACCOUNT WITHDRAWAL																				0.00
(H)	Policy Draw for “I” Interest																				0.00
(I)	Policy Draw for “A-1” Interest or Ultimate Principal																				0.00
(J)	Policy Draw for “A-2” Interest or Ultimate Principal																				0.00
(K)	Policy Draw for “A-3” Interest or Ultimate Principal																				0.00
(L)	Policy Draw for “A-4” Interest or Ultimate Principal																				0.00
	TOTAL COLLECTIONS																				6,430,686.79
C.	TRUSTEE DISTRIBUTION																			TOTAL
(A)	TOTAL CASH FLOW																				6,430,686.79
(B)	DEPOSIT TO PAYAHEAD																				0.00
(C)	Indenture Trustee Fee																				0.00
(D)	UNRECOVERED INTEREST ADVANCES																				4,661.85
(E)	SERVICING FEE (DUE AND UNPAID)																				83,009.94
(F)	Standby Servicing Fee (not to exceed $50,000)																				3,000.00
(G)	Owner Trustee Fee (not to exceed $25,000)																				0.00
(H)	INTEREST TO “A-1” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				0.00
(I)	INTEREST TO “A-2” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				0.00
(J)	INTEREST TO “A-3” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				29,689.16
(K)	INTEREST TO “A-4” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				262,232.72
(L)	Interest to “I” Certificate Holders, including Overdue																				29,202.87
(M)	PRINCIPAL TO “A-1” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				0.00
(N)	PRINCIPAL TO “A-2” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				0.00
(O)	PRINCIPAL TO “A-3” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				5,652,949.89
(P)	PRINCIPAL TO “A-4” CERTIFICATE HOLDERS, INCLUDING OVERDUE																				0.00
(Q)	Policy Premium and Unreimbursed Draws																				31,319.66
(R)	Spread Account (up to the Requisite Amount)																				0.00
(S)	Additional Unpaid Standby Servicing Fee																				0.00
(T)	Additonal Unpaid Indenture Trustee Fee																				0.00
(U)	Additional Unpaid Owner Trustee Fee																				0.00
(V)	Interests Advance Recovery Payments																				6,839.53
(W)	EXCESS YIELD																				327,781.17
	BALANCE																				0.00
D.	SPREAD ACCOUNT																			SPREAD
																				ACCOUNT
(A)	BEGINNING BALANCE																				13,874,196.55
(B)	ADDITIONS TO SPREAD AMOUNT																				327,781.17
(C)	INTEREST EARNED																				32,977.95
(D)	DRAWS																				0.00
(E)	REIMBURSEMENT FOR PRIOR DRAWS																				N/A
(F)	DISTRIBUTION OF FUNDS TO SERVICER																				N/A
(G)	PRIOR MONTH DISTRIBUTION OF FUNDS TO ISSUER																				277,869.34
(H)	ENDING BALANCE																				13,957,086.33
(I)	REQUIRED BALANCE																				13,596,327.21
(J)	CURRENT MONTH DISTRIBUTION OF FUNDS TO ISSUER																				360,759.12

Bay View Securitization Corporation
Bay View 2002 LJ-1 Owner Trust
For Payment Date: June 27, 2005
For Collection Period: May 2005
For Determination Date: June 15, 2005

E.	CURRENT RECEIVABLES DELINQUENCY			NUMBER		BALANCE
	# PAYMENT DELINQUENCY
(A)	31-60				72		886,381.62
(B)	61-90				10		142,222.50
(C)	TOTAL				82		1,028,604.12
(D)	90+ days				4		47,442.69
F.	REPOSSESSIONS
(A)	COLLECTION PERIOD REPOSSESSIONS (CURRENT PERIOD END BAL)				8		113,853.94
(B)	AGGREGATE REPOSSESSIONS				613		11,577,980.23
(C)	UNLIQUIDATED REPOSSESSIONS				8		113,853.94
G.	PAYAHEAD RECONCILIATION
(A)	BEGINNING BALANCE						31,085.25
(B)	DEPOSIT						0.00
(C)	WITHDRAWAL						1,676.98
(D)	ENDING BALANCE						29,408.27
PERFORMANCE TEST
H.	DELINQUENCY RATIO (30+)
		DELINQUENT
		MONTH		POOL		DELINQUENCY
	MONTH	BALANCE		BALANCE		%
(A)	CURRENT		1,028,604.12		93,958,980.93		1.0947	%
(B)	1ST PREVIOUS		920,582.73		99,611,930.82		0.9242	%
(C)	2ND PREVIOUS		764,379.78		105,215,514.75		0.7265	%
(D)	THREE MONTH ROLLING AVERAGE		904,522.21		99,595,475.50		0.9151	%
I.	CUMULATIVE DEFAULT RATE	MONTH		ORIGINAL POOL		Default Rate %
		BALANCE		BALANCE
(A)	Defaulted Receivables (Current Period)		161,296.63
(B)	Cumulative Defaulted Receivables (Prior Month)		14,851,631.79
(C)	Cumulative Defaulted Receivables (Current Month)		15,012,928.42		453,210,907.00		3.31	%
		MONTH		ORIGINAL POOL
J.	CUMULATIVE NET LOSS RATE	BALANCE		BALANCE		Net Loss Rate %
(A)	Collection Period Charge-Off receivables		274,998.94
(B)	50% of Purchase Receivables with scheduled payment delinquent more than 30 days		-
(C)	Aggregate Cram Down Losses during period		-
(D)	Less: Recoveries (current month)		157,347.20
(E)	Prior Period Adjustment		—
(F)	Net Losses current period		117,651.74
(G)	Prior Period cumulative net losses		9,715,478.18
(H)	Cumulative Net Losses (current period)		9,833,129.92		453,210,907.00		2.17	%
(I)	Total Defaults		161,296.63
(J)	50% of defaulted Receivables ( not included in Collection Period Charge-Off Receivables)		80,648.32
(K)	Cumulative net losses including 50% of defaults		9,913,778.24		453,210,907.00		2.19	%
K.	EXTENSION RATE	MONTH BALANCE		POOL BALANCE		Extension Rate %
(A)	Principal Balance of Receivables extended during current period (not to exceed 1% of Original Pool Balance)		285,560.24		93,958,980.93		0.30	%
L.	LOCKBOX TEST			AMOUNT		NUMBER
(A)	Total Payments to Lockbox (Current Month)				3,642,487.65		6,895
(B)	Total Payments (Current Month)				6,400,300.39		7,631
(C)	Lockbox Payment Percentage						90.36	%
M.	FINANCIAL COVENANTS
(A)	Monthly BVAC capital (at least $50MM)						50,000
(B)	Monthly BVAC cash and working capital borrowing capacity (at least $5MM)						16,532
(C)	Monthly BVAC net worth (at least $20MM)						62,684
N.	WAC-Weighted Average Coupon						10.181
O.	WAM-Weighted Average Maturity						41.2

/s/ Lisa Staab	APPROVED BY:	/s/ Bob Windlespecht
Prepared by: Lisa Staab		Bob Windlespecht
VP, Controller		Controller
Bay View Acceptance Corp		Bay View Capital Corp