10-K 1 bay0500d_10k-2005.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) /X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2005 OR / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 333-122059-02 Bayview Financial Securities Company, LLC. Mortgage Pass-Through Certificates Series 2005-D (Exact name of registrant as specified in its charter) Delaware 54-2188561 (State or other jurisdiction of 54-2188562 incorporation or organization) 54-2188563 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 Securities registered pursuant to Section 12(b) of the Act: NONE. Securities registered pursuant to Section 12(g) of the Act: NONE. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ___ No X Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ___ No X Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ___ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K ( 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Not applicable. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See Definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check One): Large Accelerated Filer ___ Accelerated Filer ___ Non-Accelerated Filer X Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ___ No X State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. Not applicable. Documents Incorporated by Reference List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g. Part I, Part II, etc.) into which the document is incorporated: (1)Any annual report to security holders; (2) Any proxy or information statement; and (3)Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g. annual report to security holders for fiscal year ended December 24, 1980). Not applicable. PART I Item 1. Business. Not applicable. Item 1A. Risk Factors. Not applicable. Item 1B. Unresolved Staff Comments. Not applicable. Item 2. Properties. Not applicable. Item 3. Legal Proceedings. The registrant knows of no material pending legal proceedings involving the trust created under the Pooling and Servicing Agreement (the Trust), the Trustee, the Servicer or the registrant with respect to the Trust other than routine litigation incidental to the duties of the respective parties. Item 4. Submission of Matters to a Vote of Security Holders. None. PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. No established public trading market for the Certificates exists. Records provided to the Trust by the DTC and the Trustee indicate that as of December 31, 2005, the total number of holders of record for the Series of Certificates is 34. Item 6. Selected Financial Data. Not applicable. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. Not applicable. Item 7A. Quantitative and Qualitative Disclosures about Market Risk. Not applicable. Item 8. Financial Statements and Supplementary Data. Not applicable. Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. Item 9A. Controls and Procedures. Not applicable. Item 9B. Other Information. None. PART III Item 10. Directors and Executive Officers of the Registrant. Not applicable. Item 11. Executive Compensation. Not applicable. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. Not applicable. Item 13. Certain Relationships and Related Transactions. Not applicable. Item 14. Principal Accounting Fees and Services. Not applicable. PART IV Item 15. Exhibits, Financial Statement Schedules. (a) Exhibits (31.1) Rule 13a-14(a)/15d-14(a) Certification (99.1) Annual Independent Accountants' Servicing Reports concerning servicing activities. a) Bank of America, N.A., as Servicer b) Bayview Loan Servicing, LLC, as Servicer c) Chase Home Finance LLC, as Servicer d) M & T Mortgage Corporation, as Servicer
(99.2) Report of Management as to Compliance with Minimum Servicing Standards. a) Bank of America, N.A., as Servicer b) Bayview Loan Servicing, LLC, as Servicer c) Chase Home Finance LLC, as Servicer d) M & T Mortgage Corporation, as Servicer
(99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements. a) Bank of America, N.A., as Servicer b) Bayview Loan Servicing, LLC, as Servicer c) Chase Home Finance LLC, as Servicer d) M & T Mortgage Corporation, as Servicer
(99.4) Aggregate Statement of Principal and Interest Distributions to Certificate Holders. (b) Not applicable. (c) Omitted. Filed herewith. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized: Bayview Financial Securities Company, LLC. Mortgage Pass-Through Certificates Series 2005-D (Registrant) Signed: Bayview Financial Securities Company, LLC - 352 as Depositor By: Stuart Waldman, Vice President By: /s/ Stuart Waldman, Vice President Dated: March 30, 2006 Exhibit Index Exhibit No. Ex-31.1 Rule 13a-14(a)/15d-14(a) Certification I, Stuart Waldman, certify that: 1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of Bayview Financial Securities Company, LLC. Mortgage Pass-Through Certificates, Series 2005-D Trust; 2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report; 3. Based on my knowledge, the distribution or servicing information required to be provided to the Trustee by the Servicer under the Pooling and Servicing or similar, agreement, for inclusion in these reports is included in these reports; 4. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the pooling and servicing, or similar, agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the servicing agreement; and 5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar, agreement, that is included in these reports. In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: Bank of America, N.A. as Servicer, Bayview Loan Servicing, LLC as Servicer, Chase Home Finance LLC as Servicer, M & T Mortgage Corp as Servicer. Date: March 30, 2006 /s/ Stuart Waldman Signature Vice President Title EX-99.1 (a) (logo) PRICEWATERHOUSECOOPERS PricewaterhouseCoopers LLP 214 N. Tryon Street Ste 3600 Charlotte NC 28202 Telephone (704) 344 7500 Facsimile (704) 344 4100 Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholder of Bank of America, N.A.: We have examined management's assertion concerning the mortgage division of Bank of America, N.A.'s (the "Company"), compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2005 included in the accompanying Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards (see Exhibit 1). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly included examining on a test basis evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards. In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005 is fairly stated, in all material respects. /s/ PricewaterhouseCoopers LLP March 17, 2006 (page) Exhibit 1 (logo) Bank of America Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards March 17, 2006 As of and for the year ended December 31, 2005, Bank of America, N.A. (the "Company"), has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $270,000,000 and $110,000,000, respectively. /s/ Floyd. S. Robinson Floyd S. Robinson Senior Vice President President Consumer Real Estate Bank of America, N.A. /s/ H. Randall Chestnut H. Randall Chestnut Senior Vice President Bank of America, N.A. /s/ Mike Kula Mike Kula Senior Vice President Finance Executive Bank of America, N.A. /s/ Robert Caruso Robert Caruso Senior Vice President National Servicing Executive Bank of America, N.A. /s/ J. Mark Hanson J. Mark Hanson Senior Vice President Bank of America, N.A. (logo) USA 2000-2004 US Olymipic Teams EX-99.1 (b) Grant Thornton (logo) Accountants and Business Advisors REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS Board of Directors Bayview Loan Servicing, LLC We have examined management's assertion, included in the accompanying report titled Report of Management, that Bayview Loan Servicing, LLC (the Company) complied with the servicing standards identified in Exhibit A to the Report of Management (the "specified minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) for the year ended December 31, 2005. Management is responsible for the Company's compliance with those specified minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the specified minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with specified minimum servicing standards. In our opinion, management's assertion that the Company complied with the aforementioned specified minimum servicing standards for the year ended December 31, 2005, is fairly stated, in all material respects. /s/ Grant Thorton LLP Miami, Florida February 14, 2006 2700 South Commerce Parkway Suite 300 Weston, FL 33331-3630 T 954.768.9900 F 954.768.9908 W www.grantthornton.com 801 Brickell Avenue Suite 2450 Miami, FL 33131-2867 T 305.341.8040 F 305.341.8099 W www.grantthornton.com 11300 US Highway One Suite 303 West Palm Beach, FL 33408-3229 T 561.684.9496 F 561.684.9476 W www.grantthornton.com Grant Thornton LLP US Member of Grant Thornton International (page) EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS I. Custodial Bank Accounts 1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: a. be mathematically accurate; b. be prepared within forty-five (45) calendar days after the cutoff date. The cutoff date is the date as of which a bank account is reconciled every month. It may, or may not, coincide with a prescribed investor reporting date but shall be consistent from period to period; c. be reviewed and approved by someone other than the person who prepared the reconciliation; and d. document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification. 2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account. 3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor. 4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan. II. Mortgage Payments 1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two (2) business days of receipt. 2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two (2) business days of receipt. 3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents. 4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents. (page) EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS - CONTINUED III. Disbursements 1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel. 2. Disbursements made on behalf of a mortgagor or investor shall be posted within two (2) business days to the mortgagor's or investor's records maintained by the servicing entity. 3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates. 4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission. 5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements. 6. Unissued checks shall be safeguarded so as to prevent unauthorized access. IV. Investor Accounting and Reporting The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity. V. Mortgagor Loan Accounting 1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis. 2. Adjustments on adjustable rate mortgage (ARM) loans shall be computed based on the related mortgage note and any ARM rider. 3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis. 4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws. (page) EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS - CONTINUED VI. Delinquencies Records documenting collection efforts shall be maintained during the period a loan is in default and shall be undated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (i.e., illness or unemployment). VII. Insurance Policies A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion. EX-99.1 (c) (logo) PRICEWATERHOUSECOOPERS PricewaterhouseCoopers LLP PricewaterhouseCoopers Center 300 Madison Avenue New York NY 10017 Telephone (646) 471 3000 Facsimile (813) 286 6000 Report of Independent Auditors To the Board of Directors and Stockholder of Chase Home Finance LLC: We have examined management's assertion about Chase Home Finance LLC's (the "Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2005 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination. Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards. In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005 is fairly stated, in all material respects. /s/ PricewaterhouseCoopers LLP. March 13, 2006 (page) (logo) CHASE Exhibit I Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards March 13, 2006 As of and for the year ended December 31, 2005, Chase Home Finance LLC (the "Company") has complied in all material respects with the minimum servicing standards (the "Standards") set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). These Standards are applicable only to the Company's prime and subprime mortgage portfolios. As of and for this same period, the Company had in effect fidelity bond and errors and omissions policies in the amounts of $250,000,000 and $25,000,000 respectively. /s/ Kim Greaves Kim Greaves Senior Vice President Chase Home Finance LLC /s/ Jim Miller Jim Miller Senior Vice President Chase Home Finance LLC /s/ Scott Powell Scott Powell CEO Chase Home Finance LLC EX-99.1 (d) (logo) PRICEWATERHOUSECOOPERS PricewaterhouseCoopers LLP 3600 HSBC Center Buffalo NY 14203-2879 Telephone (716) 856 4650 Facsimile (716) 856 1208 Report of Independent Accountants To the Board of Directors and Stockholder of M&T Mortgage Corporation We have examined management's assertion about M&T Mortgage Corporation's (the "Company") compliance with the minimum servicing standards identified in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP") as of and for the year ended December 31, 2005 included in the accompanying management assertion (see Exhibit 1). Management is responsible for the Company's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination. Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards. In our opinion, management's assertion that the Company complied with the aforementioned minimum servicing standards as of and for the year ended December 31, 2005 is fairly stated, in all material respects. /s/ PricewaterhouseCoopers LLP March 10, 2006 (page) Exhibit 1 Management's Assertion Concerning Compliance With USAP Minimum Servicing Standards March 10, 2006 As of and for the year ended December 31, 2005, M&T Mortgage Corporation (the "Company") has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $55,000,000 and $54,000,000, respectively. M&T Mortgage Corporation By: /s/ James J. Beardi James J. Beardi President By: /s/ Mark J. Mendel Mark J. Mendel Administrative Vice President P.O. Box 1288, Buffalo, NY 14240, 716 626 7010 800 724 2224 Mortgage account information, just a click away. www.mandtmortgage.com EX-99.2 (a) Exhibit 1 (logo) Bank of America Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards March 17, 2006 As of and for the year ended December 31, 2005, Bank of America, N.A. (the "Company"), has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $270,000,000 and $110,000,000, respectively. /s/ Floyd. S. Robinson Floyd S. Robinson Senior Vice President President Consumer Real Estate Bank of America, N.A. /s/ H. Randall Chestnut H. Randall Chestnut Senior Vice President Bank of America, N.A. /s/ Mike Kula Mike Kula Senior Vice President Finance Executive Bank of America, N.A. /s/ Robert Caruso Robert Caruso Senior Vice President National Servicing Executive Bank of America, N.A. /s/ J. Mark Hanson J. Mark Hanson Senior Vice President Bank of America, N.A. (logo) USA 2000-2004 US Olymipic Teams EX-99.2 (b) (logo) BAYVIEW LOAN SERVICING, LLC Report of Management We, as members of management of Bayview Loan Servicing, LLC (the Company), are responsible for complying with the servicing standards identified in the attached Exhibit A (the "specified minimum servicing standards") as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP). We are also responsible for establishing and maintaining effective internal control over compliance with these specified minimum servicing standards. We have performed an evaluation of the Company's compliance with the specified minimum servicing standards as of December 31, 2005 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 2005, the Company complied, in all material respects, with the specified minimum servicing standards. As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amount of $3,500,000 for the period from January 1, 2005 through December 31, 2005. /s/ Richard O'Brien Richard O'Brien Mananging Director of Loan Servicing February 14, 2006 4425 Ponce de Leon Blvd. / 5th Floor / Coral Gables, FL 33146 / Tel: (800) 457-5105 [PAGE] EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS I. Custodial Bank Accounts 1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall: a. be mathematically accurate; b. be prepared within forty-five (45) calendar days after the cutoff date. The cutoff date is the date as of which a bank account is reconciled every month. It may, or may not, coincide with a prescribed investor reporting date but shall be consistent from period to period; c. be reviewed and approved by someone other than the person who prepared the reconciliation; and d. document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of their original identification. 2. Funds of the servicing entity shall be advanced in cases where there is an overdraft in an investor's or a mortgagor's account. 3. Each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor. 4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan. II. Mortgage Payments 1. Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two (2) business days of receipt. 2. Mortgage payments made in accordance with the mortgagor's loan documents shall be posted to the applicable mortgagor records within two (2) business days of receipt. 3. Mortgage payments shall be allocated to principal, interest, insurance, taxes or other escrow items in accordance with the mortgagor's loan documents. 4. Mortgage payments identified as loan payoffs shall be allocated in accordance with the mortgagor's loan documents. [PAGE] EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS - CONTINUED III. Disbursements 1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel. 2. Disbursements made on behalf of a mortgagor or investor shall be posted within two (2) business days to the mortgagor's or investor's records maintained by the servicing entity. 3. Tax and insurance payments shall be made on or before the penalty or insurance policy expiration dates, as indicated on tax bills and insurance premium notices, respectively, provided that such support has been received by the servicing entity at least thirty (30) calendar days prior to these dates. 4. Any late payment penalties paid in conjunction with the payment of any tax bill or insurance premium notice shall be paid from the servicing entity's funds and not charged to the mortgagor, unless the late payment was due to the mortgagor's error or omission. 5. Amounts remitted to investors per the servicer's investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements. 6. Unissued checks shall be safeguarded so as to prevent unauthorized access. IV. Investor Accounting and Reporting The servicing entity's investor reports shall agree with, or reconcile to, investors' records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity. V. Mortgagor Loan Accounting 1. The servicing entity's mortgage loan records shall agree with, or reconcile to, the records of mortgagors with respect to the unpaid principal balance on a monthly basis. 2. Adjustments on adjustable rate mortgage (ARM) loans shall be computed based on the related mortgage note and any ARM rider. 3. Escrow accounts shall be analyzed, in accordance with the mortgagor's loan documents, on at least an annual basis. 4. Interest on escrow accounts shall be paid, or credited, to mortgagors in accordance with the applicable state laws. [PAGE] EXHIBIT A SPECIFIED MINIMUM SERVICING STANDARDS - CONTINUED VI. Delinquencies Records documenting collection efforts shall be maintained during the period a loan is in default and shall be undated at least monthly. Such records shall describe the entity's activities in monitoring delinquent loans including, for example, phone calls, letters and mortgage payment rescheduling plans in cases where the delinquency is deemed temporary (i.e., illness or unemployment). VII. Insurance Policies A fidelity bond and errors and omissions policy shall be in effect on the servicing entity throughout the reporting period in the amount of coverage represented to investors in management's assertion. EX-99.2 (c) (logo) CHASE Exhibit I Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards March 13, 2006 As of and for the year ended December 31, 2005, Chase Home Finance LLC (the "Company") has complied in all material respects with the minimum servicing standards (the "Standards") set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). These Standards are applicable only to the Company's prime and subprime mortgage portfolios. As of and for this same period, the Company had in effect fidelity bond and errors and omissions policies in the amounts of $250,000,000 and $25,000,000 respectively. /s/ Kim Greaves Kim Greaves Senior Vice President Chase Home Finance LLC /s/ Jim Miller Jim Miller Senior Vice President Chase Home Finance LLC /s/ Scott Powell Scott Powell CEO Chase Home Finance LLC EX-99.2 (d) (logo) M&T Mortgage Corporation A Subsidiary of M&T Bank Exhibit 1 Management's Assertion Concerning Compliance With USAP Minimum Servicing Standards March 10, 2006 As of and for the year ended December 31, 2005, M&T Mortgage Corporation (the "Company") has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). As of and for this same period, the Company had in effect a fidelity bond and errors and omissions policy in the amounts of $55,000,000 and $54,000,000, respectively. M&T Mortgage Corporation By: /s/ James J. Beardi James J. Beardi President By: /s/ Mark J. Mendel Mark J. Mendel Administrative Vice President P.O. Box 1288, Buffalo, NY 14240, 716 626 7010 800 724 2224 Mortgage account information, just a click away. www.mandtmortgage.com EX-99.3 (a) (logo) Bank of America Bank of America 475 CrossPoint Parkway PO Box 9000 Getzville, NY 14068-9000 SERVICER'S COMPLIANCE CERTIFICATE March 10, 2006 Bayview Financial Securities Company, LLC 4425 Ponce de Leon Boulevard 4th Floor Coral Gables, Florida 33146 Attention: Bayview 2005-D Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 Attention: Master Servicing Department, Bayview 2005-D Reference is made to the servicing Agreement (the "Agreement"), by and between Wachovia Bank, N.A., as trustee (the "Trustee"), and Bank of America, N.A., as servicer (the "Servicer") and acknowledged by Wells Fargo Bank, N.A., as master servicer. I, H. Randall Chestnut, a Senior Vice-President of the Bank of America, N.A., hereby certify to the Master Servicer and the Depositor, and their respective officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that: 1. I have reviewed the information required to be delivered to the Master servicer pursuant to the Agreement (the "Servicing Information") 2. Based on my knowledge, the Servicing Information has been provided to the Master Servicer when and as required under the Agreement; 3. Based on my knowledge, the Servicing information does not contain any material untrue information or omit to state information necessary to make the Servicing information, in light of the circumstances under which such information was provided, not misleading as of the date of this certification; and 4. I am responsible for reviewing the activities performed by the Servicer under the Agreement, and based upon my knowledge and the review required under the Agreement, and except as disclosed in writing to you on or prior to the date of this certification either in the accountants' report required under the Agreement or in disclosure a copy of which is attached hereto, the Servicer has, as of the date of this certification, fulfilled its obligations under the Agreement. Very truly yours, By: /s/ H. Randall Chestnut Name: H. Randall Chestnut Title: Senior Vice-President EX-99.3 (b) OFFICER'S CERTIFICATE Wells Fargo Bank, National Association, as Master Servicer 9062 Old Annapolis Road Columbia, Maryland 21045 Attention: Master Servicing Department Bayview Financial, L.P., as Owner 4425 Ponce de Leon Boulevard, 4th Floor Coral Gables, Florida 33146 Attention: Tom Carr, Esq. Reference is hereby made to the servicing agreements (each, an "Agreement") listed on Exhibit A attached hereto and entered into by Bayview Loan Servicing, LLC, in its own right, or as successor in interest to Interbay Funding, LLC, in its capacity as servicer (the "Servicer"). The undersigned, a duly authorized officer of the Servicer, hereby certifies to Wells Fargo Bank, National Association, as master servicer, and to Bayview Financial, L.P. (formerly known as Bayview Financial Trading Group, L.P.) ("Bayview") that: (x) a review of the activities of the Servicer during the calendar year ended December 31, 2005 and of performance under each Agreement has been made under his supervision, and (y) to the best of his knowledge, based on such review, the Servicer has fulfilled all of its obligations under each Agreement throughout the calendar year ended December 31, 2005. Very truly yours, By: /s/ Richard O'Brien Name: Richard O'Brien Title:Senior Vice President Date: March __, 2006 [PAGE] EXHIBIT A 1. Servicing Agreement by and between Bayview and the Servicer, dated as of January 1, 2003 (2003-A); 2. Servicing Agreement by and between Bayview and the Servicer, dated as of February 1, 2003 (2003-B); 3. Servicing Agreement by and between Bayview and the Servicer, dated as of June 1, 2003 (BCAT 2003-1); 4. Servicing Agreement by and between Bayview and the Servicer, dated as of October 1, 2003 (BCAT 2003-2); 5. Servicing Agreement by and between Bayview and the Servicer, dated as of April 1, 2003 (2003-C); 6. Servicing Agreement by and between Bayview and the Servicer, dated as of July 1, 2003 (2003-D); 7. Servicing Agreement by and between Bayview and the Servicer, dated as of September 1, 2003 (2003-E); 8. Servicing Agreement by and between Bayview and the Servicer, dated as of November 1, 2003 (2003-F); 9. Servicing Agreement by and between Bayview and the Servicer, dated as of December 1, 2003 (2003-G); 10. Servicing Agreement by and between Bayview and the Servicer, dated as of February 1, 2004 (BCAT 2004-1); 11. Servicing Agreement by and between Bayview and the Servicer, dated as of March 1, 2004 (2004-A); 12. Servicing Agreement by and between Bayview and the Servicer, dated as of April 1, 2004 (2004-B); 13. Servicing Agreement by and between Bayview and the Servicer, dated as of August 1, 2004 (2004-C); 14. Servicing Agreement by and between Bayview and the Servicer, dated as of November 1, 2004 (2004-D); 15. Collection and Remittance Agreement by and between Bayview Financial Asset Trust 2003-B and the Servicer, dated as of February 1, 2003 (2003-B); and 16. Servicing Agreement by and between Bayview and the Servicer, dated as of February 1, 2005 (2005-A). [PAGE] 17. Servicing Agreement by and between Bayview and the Servicer, dated as of March 1, 2005 (2005-B). 18. Servicing Agreement by and between Bayview and the Servicer, dated as of August 1, 2005 (2005-C). 19. Servicing Agreement by and between Bayview and the Servicer, dated as of October 1, 2005 (2005-D). 20. Servicing Agreement by and between Bayview and the Servicer, dated as of November 1, 2005 (2005-E). EX-99.3 (c) (logo) CHASE ANNUAL STATEMENT OF COMPLIANCE Pursuant to the servicing agreement, the undersigned Officer, to the best of his/her knowledge, hereby certifies to the following: I have reviewed the activities and performance of the Servicer and, during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of the Officer's knowledge, the Servicer has fulfilled all its duties, responsibilities or obligations under these Agreements throughout such year. a) All property inspections have been completed. b) Compliance relative to Adjustable Rate Mortgages has been met. c) Compliance with IRS Foreclosure reporting regulations enacted as IRS Section 6060J by the Deficit Reduction Act, regarding Acquired and/or Abandonment property have been completed. d) All loans serviced in states that have statutes requiring payment of interest on escrow/impound accounts have been completed. e) That such Officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement are in full force and effect. f) Enclosed is a copy of our most recent independent audit statement. CERTIFIED BY: /s/ Kim Greaves Kim Greaves Senior Vice President Date: 3/13/06 CERTIFIED BY: /s/ Jim Miller Jim Miller Senior Vice President Date: 3/13/06 (page) Wells Fargo - 2005 deals Investor# Agreement Name Agreement Date 047 FC0105 1/15/05 047 FC0205 2/15/05 047 FC0305 3/15/05 047 FC0405 4/15/05 047 FC0505 5/15/05 047 FC0605 5/15/05 047 FC0705 7/27/05 047 FC0805 8/27/05 047 FC0905 9/20/05 047 FC1005 10/20/05 047 FC1105 11/25/05 047 FC1205 12/19/05 G62 BAF05001 2/1/05 G63 CSF05001 2/1/05 G65 JPA050S1 2/1/05 G69 JPA050A1 2/1/05 G70 MAL05001 2/1/05 G75 5MASD1 3/1/05 G76 CSF05002 3/2/05 G80 5GSMP1 3/7/05 G84 JPA050A2 4/1/05 G85 BAF05002 4/1/05 G86 MAL05003 4/1/05 G87 CSF05003 4/1/05 G92 MST05001 4/1/05 G96 MAL05004 6/1/05 G97 CSF05004 5/1/05 G98 JPA050A3 6/2/05 L06 CSF05005 6/1/05 L07 BAF05003 6/1/05 L09 MSS05001 6/1/05 L15 JPA050A4 7/1/05 L19 BAF0500E 7/1/05 L23 CSF05006 7/1/05 L27 JPA050A5 8/1/05 L33 MAL05005 8/5/05 L37 BAY0500C 9/12/05 L38 JPA050S2 9/1/05 L41 JPA050A6 9/1/05 L42 5MARP2 9/1/05 L48 CSF05009 10/3/05 L49 JPA050A7 10/3/05 (page) L53 THB05003 9/1/05 L55 JPA050A8 11/1/05 L56 5MABA1 11/1/05 L57 BAY0500D 11/1/05 L58 CSF05010 11/1/05 L59 MST05002 11/1/05 L62 5MSST2 1111/05 L65 MAL05006 12/1/05 L66 JPL050S1 12/1/05 L67 BAF05007 12/1/05 L68 CSF05011 12/1/05 L72 JPA050S3 12/1/05 L74 JPL050A2 12/1/05 571 PPS05WC1 1/26/05 572 PEOPLES CHOICE 2005-1 3/28/05 578 FLD0501 2/25/05 583 MAB05HE1 4/28/05 598 FLD0502 7/29/05 599 FBR05001 7/29/05 602 HAS05NC1 9/13/05 608 FBR05002 9/29/05 609 MAB05HE2 9/29/05 610 HAS05NC2 9/29/05 615 MSI05HE5 10/27/0 617 FLD0503 11/28/0 621 FBR05004 12/5/05 622 FBR05005 12/5/05 624 HAS05I01 12/21/05 AEGO5004 ARM0511 FS2005-1 FS2005-2 FS2005-3 GS2005-RP1 MAB05AB1 MRLT2005-1 MRLT2005-2 MSM058SL NLC05004 PRM05005 (page) Wells Fargo - 2004 and prior deals Investor# Agreement Name Agreement Date 18 1997 WL-3 46 FC0704 46 FC0804 46 FC0904 46 FC1004 46 FC1104 46 FC1204 111 1999WL6 168 PRM04-CL1 1/1/04 361 01996U 32E JPMMT 2004-S1 1/1/04 32J JPM2004-S1 8/1/04 A37 E94001 A39 J21001 C48 MAST 2004-1 9/1/04 C84 2002WL7 5/1/02 D92 S44003 F04 MALT2002-1 7/30/02 F18 002WLF 7/1/02 F04/F20 002WLG 8/27/02 F31 2003-WLV 7/1/03 F32 2002WLJ F33 Bayview 2003-D 7/1/03 F34 002FX2 F35 Bayview 2003-E 7/1/03 F38 002WLM F46 002WLS F48 2CRA57 F50 2002WL12 F51 MALT2003-2 3/1/03 F52 MALT2003-3 6/1/03 F53 MAST2003-5 6/1/03 F54 MAST2003-6 6/1/03 F55 MAST2003-7 7/1/03 F56 MAST2003-8 8/1/03 F57 MASTR9 F58 MAST03-10 10/1/03 F59 MALT2003-7 10/1/03 F60 MALT2003-8 11/1/03 F61 MALT2003-9 1/2/04 F61 MAST2003-9 9/1/03 F62 MAST03-12 1/2/04 (page) F63 DBALT4 1/21/04 F64 MALT2004-4 2/2/04 F65 MALT2004-2 3/1/04 F66 MAST2004-3 2/1/04 F67 MALT2004-3 4/1/04 F68 Bear Stearns Mortgage Securities Inc Series 1998-1 3/1/04 F68 Bear Stearns Mortgage Securities Inc Series 1998-5 3/1/04 F68 PRM04-CL2 4/1/04 F68 SAMI 1998-8 3/1/04 F69 MALT2004-4 5/3/04 F71 MAST2004-5 4/1/04 F73 MALT2004-5 6/3/04 F74 002FX5 F75 MAST2004-6 6/1/04 F77 MALT2004-6 7/5/04 F79 MALT2004-7 7/1/04 F81 MAST2004-8 7/1/04 F83 MAST2004-9 8/1/04 F85 MALT2004-8 8/1/04 F89 MALT2004-9 8/1/04 F94 GSMPS 2003-1 10/1/03 F95 MALT04-10 9/1/04 G01 JPM2004-A1 1/1/04 G05 JPM2004-A2 4/1/04 G06 GS2004-1 2/1/04 G10 JPM2004-A3 6/1/04 G12 GS2004-3 5/1/04 G16 JPM2004-A4 7/1/04 G19 CSFB04-4 8/2/04 G22 CSFB04-5 9/1/04 G23 BAY2004-C 9/1/04 G29 CSFB04-6 10/1/04 G36 JPM2004-A5 10/1/04 G38/J07 CSFB04-7 11/1/04 G39 MALT04-11 11/1/04 G40/J08 MAST04-10 10/1/04 G43 JPM2004-A6 12/1/04 G44 CSFB04-8 12/1/04 G45 JPM2004-S2 11/1/04 G47 MAST04-11 11/1/04 G48 MALT04-12 11/1/04 G53 BAY2004-D 3/1/04 G54 4BAFC4 10/1/04 G56 BAFC2004-5 10/1/04 G56 4BAFC6 G58 MALT04-13 12/1/04 (page) H71 CSFB 2001-AR24 J08 4MAS10 Deutsche Mortgage Securities, Inc. 2004-4 GS2003-3 10/1/03 MAST2004-4 MAST2004-1 SAM2000-1 CMLT04-HE1 CMLT2004-1 CSFB04-AR5 FNMA200233 FS2003-1 FS2004-1 FS2004-2 FS2004-3 FS2004-4 FS2004-5 GEMLMLM HARTX83-A JEFFTX84 MALT2002-2 MALT2003-5 MARM2003-1 MAST2002-7 MAST2003-2 MAST2003-3 MAST2003-4 MS1997-P1 MSGF1996-1 MSST2003-1 NATIONSBK NORWEST-TX RMSC89-8 SASCO02-9 SMSC92-6 SMT91-05 SMT92-01 SMT93-04 329 SOPAC/ 97-2 / WELLS FARGO TRUST SERVICES 389 AMRES98-2 6/22/98 466 Aegis Asset Backed Securities Trust 2003-1 3/27/03 479 FIRST FRANKLIN MORTGAGE LOAN TRUST 2003-FF2 6/26/03 480 First Franklin Mortgage Loan Trust 2003-FFC 6/1/03 483 GS2003-HE2 9/8/03 488 First Franklin Mortgage Loan Trust 2003-FF4 9/1/03 489 Aegis Asset Backed Securities Trust 2003-2 10/8/03 (page) 497 FIELDSTONE MORTGAGE INVESTMENT CORP 2003-1 10/23/03 501 GS2003-AHL 10/29/03 502 Aegis Asset Backed Securities Trust 2003-3 11/18/03 510 Aegis Asset Backed Securities Trust 2004-1 1/23/04 511 Fieldstone Mortgage Investment Trust 2004-1 1/30/04 514 FIRST FRANKLIN MORTGAGE LOAN TRUST 2004-FFA 2/1/04 520 Fieldstone Mortgage Investment Trust 2004-2 4/20/04 524 FIRST FRANKLIN MORTGAGE LOAN TRUST 2004-FF3 5/1/04 528 Aegis Asset Backed Securities Trust 2004-3 6/21/04 532 Fieldstone Mortgage Investment Trust 2004-3 6/21/04 537 SAIL2004-7 7/27/04 542 Aegis Asset Backed Securities Trust 2004-4 8/26/04 544 FFMLT 2004-FF7 8/1/04 547 MS2004-5AR 9/23/04 548 MS2004-6AR 9/23/04 549 MS2004-7AR 9/23/04 555 MABS04HE1 10/1/04 556 MS2004-8AR 9/30/04 558 Fieldstone Mortgage Investment Trust 2004-4 9/30/04 562 PEOPLES CHOICE 2004-2 11/23/04 566 Fieldstone Mortgage Investment Trust 2004-5 11/23/04 BSALTA2003-4 BSRT2001-4 CMLT2003-1 9/1/98 DALT03-4XS 11/1/03 EX-99.3 (d) (logo) M&T Mortgage Corporation A Subsidiary of M&T Bank WELLS FARGO-BAYVIEW 9062 OLD ANNAPOLIS RD COLUMBIA, MD 21045 Annual Statement of Compliance For The Fiscal Year 2005 1. A review of the activities of M & T Mortgage Corporation during the preceding calendar year and of performance according to the servicing agreement (see Schedule 1, attached) has been made with the undersigned officer's supervision, and 2. To the best of the undersigned officer's knowledge, based on such review, M & T Mortgage Corporation has fulfilled all its obligations under the servicing agreement for such year, or if there has been a default in the fulfillment of any such obligation, such default is listed below: Known Default Status Steps Being Taken to Cure Default None Seller Servicer: M&T Mortgage Corporation By:/s/ Beth E. Fisher Title: Vice President / Investor Reporting Manager Date: March 14, 2006 P.O. Box 1288, Buffalo, NY 14240, 716 626 7010 * 800 724 2224 Mortgage account information, just a click away. www.mandtmortgage.com (page) Schedule 1 Security Date Agreement and Parties 1998-1 03/31/2000 Amended and Restated Servicing Agreement between First Union National Bank as Trustee and M&T Mortgage Corporation as Servicer and Default Administrator 1998-A 03/31/2000 Amended and Restated Servicing Agreement between Bayview Financial Acquisition Trust 1998-A as Issuer and M&T Mortgage Corporation as Servicer and Default Administrator 1998-B 03/31/2000 Amended and Restated Servicing Agreement between Bayview Financial Acquisition Trust 1998-B as Issuer and M&T Mortgage Corporation as Servicer and Default Administrator 1999-A 03/31/2000 Amended and Restated Servicing Agreement between Bayview Financial Acquisition Trust 1999-A as Issuer and M&T Mortgage Corporation as Servicer and Default Administrator 1999-B 03/31/2000 Amended and Restated Servicing Agreement between Bayview Financial Acquisition Trust 1999-B as Issuer and M&T Mortgage Corporation as Servicer and Default Administrator 2001-C 08/01/2001 Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2001-C (the "Issuer") and M&T Mortgage Corporation 08/01/2001 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 2001-D 11/01/2001 Servicing Acknowledgement Agreement between Bayview Financial Asset Trust 2001-D (the "Issuer") and M&T Mortgage regarding 2000-D full recourse 11/01/2001 Servicing Acknowledgement Agreement between Bayview Financial Asset Trust 2001-D (the "Issuer") and M&T Mortgage regarding 2000-D non-full recourse 11/01/2001 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 2002-B 03/01/2002 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 2002-C 04/01/2002 Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2002-C (the "Issuer") and M&T Mortgage Corporation 04/01/2002 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 04/01/2002 Non-Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2002-C as Issuer and M&T Mortgage Corporation as Servicer 2002-D 07/01/2002 Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2002-D (the "Issuer") and M&T Mortgage Corporation 07/01/2002 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 07/01/2002 Servicing Agreement between Bayview Financial Asset Trust 2002-D as Issuer and M&T Mortgage Corporation as Servicer regarding the SBA loans 2002-F 12/01/2002 Non-Full Recourse Servicing Agreement between Bayview Financial Trading Group, L.P. as Owner and M&T Mortgage Corporation as Servicer 12/01/2002 Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2002-F (the "Issuer") and M&T Mortgage Corporation 12/01/2002 Servicing Acknowledgement Agreement between Bayview Financial Asset Trust 2002-F (the "Issuer") and M&T Mortgage regarding 2002-E non-full recourse 2003-1 06/01/2003 Servicing Agreement between Bayview Commercial Asset Trust 2003-1 as Issuer and M&T Mortgage Corporation as Servicer 2003-A 01/01/2003 Non-Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2003-A as Issuer and M&T Mortgage Corporation as Servicer 01/01/2003 Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2003-A (the "Issuer") and M&T Mortgage Corporation 2003-B 02/01/2003 Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2003-B (the "Issuer") and M&T Mortgage Corporation 02/01/2003 Non-Full Recourse Servicing Agreement between Bayview Financial Asset Trust 2003-B as Issuer and M&T Mortgage Corporation as Servicer 2003-C 04/01/2003 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 04/01/2003 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2003-D 07/01/2003 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 07/01/2003 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee (page) and M&T Mortgage Corporation as Servicer 2003-E 09/01/2003 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 09/01/2003 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2003-4 08/01/2003 Servicing Agreement between Interbay Funding as Servicer and M&T Mortgage as Owner 2003-2 10/01/2003 Servicing Agreement between Bayview Commercial Asset Trust 2003-2 as Issuer and M&T Mortgage Corporation as Servicer 2003-F 11/01/2003 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 11/01/2003 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2003-G 12/01/2003 Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2003-G (the "Issuer") and M&T Mortgage Corporation and acknowledged by Wells Fargo Bank Minnesota, National Association as Master Servicer 12/01/2003 Non-Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2003-G as Issuer and M&T Mortgage Corporation as Servicer 2003-7 12/01/2003 Servicing Agreement between M&T Mortgage Corporation as Servicer and Owner and Bayview Financial, L.P. as Owner 2004-10 10/01/2004 Servicing Agreement between M&T Mortgage Corporation as Servicer and Owner and Bayview Financial, L.P. as Owner 2004-1 02/01/2004 Servicing Agreement between Bayview Commercial Asset Trust 2004-1 as Issuer and M&T Mortgage Corporation as Servicer 2004-A 03/01/2004 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 03/01/2004 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2004-B 04/01/2004 Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2004-B (the "Issuer") and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 04/01/2004 Non-Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2004-B as Issuer and M&T Mortgage Corporation as Servicer 2004-2 06/01/2004 Servicing Agreement between Bayview Commercial Asset Trust 2004-2 as Issuer and M&T Mortgage Corporation as Servicer 2004-C 08/01/2004 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2004-D 11/01/2004 Full Recourse Servicing Agreement between Wachovia Bank, National Association as trustee and M&T Mortgage Corporation and acknowledged by Wells Fargo, National Association as Master Servicer 11/01/2004 Non-Full Recourse Servicing Agreement between Wachovia Bank, National Association as Trustee and M&T Mortgage Corporation as Servicer 2004-3 11/01/2004 Servicing Agreement between Bayview Commercial Asset Trust 2004-3 as Issuer and M&T Mortgage Corporation as Servicer 2004-11 10/01/2004 Servicing Agreement among Bayview Loan Servicing, LLC as Servicer, Bayiew Financial, L.P. as Owner and M&T Mortgage Corporation as Owner 2004-13 10/01/2004 Servicing Agreement between Interbay Funding as Servicer and M&T Mortgage as Owner 2005-2 02/01/2005 Servicing Agreement between M&T Mortgage Corporation as Servicer and Owner and Bayview Financial, L.P. as Owner 2005-7 03/01/2005 Servicing Agreement between M&T Mortgage Corporation as Servicer and Owner and Bayview Financial, L.P. as Owner 2005-1 02/01/2005 Servicing Agreement between Bayview Commercial Asset Trust 2005-1 as Issuer and M&T Mortgage Corporation as Servicer 2005-A 02/01/2005 Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2005-A (the "Issuer") and M&T Mortgage Corporation and acknowledged by Wells Fargo, N.A. as Master Servicer 02/01/2005 Non-Full Recourse Servicing Agreement between Bayview Financial Revolving Asset Trust 2005-A as Issuer and M&T Mortgage Corporation as Servicer 2005-B 03/01/2005 Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer (page) 03/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Securities Company LLC (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding full recourse flow 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 03/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Securities Company LLC (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding non-full recourse flow 2005-2 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 06/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding non-full recourse flow 06/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Property Trust (the "Assignee") and Bayview Financial , L.P. (the "Assignor") regarding non-full recourse flow 2005-11 06/01/2005 Servicing Agreement between M&T Mortgage Corporation as Servicer and Owner and Bayview Financial, L.P. as Owner 2005-C 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 08/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding non-full recourse flow 08/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Securities Company LLC (the "Assignee") and Bayview Financial , L.P. (the "Assignor") regarding non-full recourse flow 2005-3 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 09/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding non-full recourse flow 09/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Property Trust (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding non-full recourse flow 2005-D 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 10/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding non-full recourse flow 10/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Securities Company LLC (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding non-full recourse flow 2005-E 03/01/2005 Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 11/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding full recourse flow 11/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Property Trust II (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding full recourse flow 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 12/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") regarding non-full recourse flow 12/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Property Trust II (the "Assignee") and Bayview Financial, L.P. (the "Assignor") regarding non-full recourse flow 2005-4 03/01/2005 Non-Full Recourse Flow Servicing Agreement between Bayview Financial, L.P. as Owner and M&T Mortgage Corporation as Servicer 12/01/2005 Confirmation Agreement between Bayview Financial L.P. (the "Owner") and M&T Mortgage Corporation (the "Servicer") 12/01/2005 Assignment, Assumption and Recognition Agreement among M&T Mortgage Corporation (the "Servicer"), Bayview Financial Property Trust (the "Assignee") and Bayview Financial, L.P. (the "Assignor")
Ex-99.4 Schedule of Year-To-Date Principal and Interest Distributions to Certificateholders Class Interest Principal Losses Ending Balance A-F1 881,619.20 9,622,674.55 0.00 90,538,325.45 A-F2 373,692.36 0.00 0.00 41,506,000.00 A-F3 157,171.66 0.00 0.00 17,146,000.00 A-F4 209,843.34 0.00 0.00 22,892,000.00 A-F5 181,028.04 0.00 0.00 20,189,000.00 AIO 351,605.45 0.00 0.00 156,966,533.85 APO 0.00 132,194.48 0.00 5,188,353.33 B-1 24,429.16 0.00 0.00 2,665,000.00 B-2 21,101.66 0.00 0.00 2,302,000.00 B-3 22,210.84 0.00 0.00 2,423,000.00 M-1 63,305.00 0.00 0.00 6,906,000.00 M-2 52,195.00 0.00 0.00 5,694,000.00 M-3 35,539.16 0.00 0.00 3,877,000.00 M-4 28,875.00 0.00 0.00 3,150,000.00 M-5 27,765.84 0.00 0.00 3,029,000.00 M-6 24,429.16 0.00 0.00 2,665,000.00 P 2,999.11 0.00 0.00 100.00 R 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00