SECURITIESTable ANDof EXCHANGE COMMISSION Contents

Signatures Table of Contents

~~Washington,~~SECURITIES ~~D.C.~~AND ~~20549~~EXCHANGE COMMISSION

~~FORM 8-K~~ Washington, D.C. 20549

~~Current~~FORM ~~Report~~8-K ~~Pursuant to Section 13 or 15(d) of~~ ~~the Securities Exchange Act of 1934~~

~~Date~~Current of Report Pursuant to Section 13 or 15(~~Date~~d) of ~~Earliest~~the ~~event~~Securities ~~reported):~~Exchange ~~February 25,~~Act ~~2005~~of 1934

~~BAY~~Date ~~VIEW~~of ~~TRANSACTION~~Report ~~CORPORATION~~(Date of Earliest event reported): May 25, 2005

~~(Exact~~BAY ~~name~~VIEW ofTRANSACTION ~~registrant as specified in charter)~~CORPORATION

(Exact name of registrant as specified in charter)

Delaware		333-105220		41-2094366
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)

~~(Former~~Check ~~name,~~the ~~former~~appropriate ~~address,~~box ~~and~~below ~~former~~if ~~fiscal~~the ~~year,~~Form if8-K ~~changed~~filing ~~since~~is ~~last~~intended ~~report~~to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

~~Item 9~~o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.01425) ~~Financial~~o ~~Statements~~Soliciting ~~and~~material ~~Exhibits~~ 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))

~~(c) Exhibit~~ TABLE OF CONTENTS

~~Exhibit 99~~Item 9.101 ~~Monthly~~Financial ~~Servicing~~Statements ~~Report~~and ~~for~~Exhibits ~~the~~Signatures ~~Collection~~EXHIBIT ~~Period ending January 31, 2005~~ 99.1

BAY VIEW 2003-LJ-1 OWNER TRUST

BAY VIEW TRANSACTION CORPORATION

ORIGINATOR OF TRUST

Dated: February 25, 2005

/s/ Lisa Staab

Lisa Staab VP, Controller

~~Pursuant~~Item 9.01 toFinancial ~~the~~Statements ~~requirements~~and ~~of the Securities Exchange Act of 1934,~~Exhibits ~~the registrant has caused this report to be signed on behalf of Bay View~~ ~~Transaction Corporation by the undersigned thereunto duly authorized.~~

Exhibit 99.1 Monthly Servicing Report for the Collection Period ending April 30, 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 Transaction Corporation by the undersigned thereunto duly authorized.


	BY:	BAY VIEW 2003-LJ-1 OWNER TRUST BAY VIEW TRANSACTION CORPORATION ORIGINATOR OF TRUST


Dated: May 25, 2005	By:	/s/ Lisa Staab
		Lisa Staab
		VP, Controller

Filing Compare · BAY VIEW TRANSACTION CORP