8-K 1 bay0400c_sep.txt SEPTEMBER 8-K UNITED STATES 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): September 28, 2004 BAYVIEW FINANCIAL SECURITIES COMPANY, LLC. Mortgage Pass-Through Certificates, Series 2004-C Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-104181-05 54-6636503 Pooling and Servicing Agreement) (Commission 54-6636504 (State or other File Number) 54-6636505 jurisdiction 54-6636506 of Incorporation) 54-6636507 IRS EIN 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 (Former name or former address, 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 (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c)) ITEM 8.01 Other Events On September 28, 2004 a distribution was made to holders of BAYVIEW FINANCIAL SECURITIES COMPANY, LLC., Mortgage Pass-Through Certificates, Series 2004-C Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-C Trust, relating to the September 28, 2004 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BAYVIEW FINANCIAL SECURITIES COMPANY, LLC. Mortgage Pass-Through Certificates, Series 2004-C Trust (Registrant) By: Wells Fargo Bank, N.A. as Master Servicer By: /s/ Beth Belfield as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 10/4/2004 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2004-C Trust, relating to the September 28, 2004 distribution. EX-99.1

~~________________________________________________~~Bayview Financial Acquisition Trust Mortgage Pass-Through Certificates Record Date: 8/31/2004 Distribution Date: 9/28/2004 BAY Series: 2004-C Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-IO 073247BH0 SEN 3.50000% 0.00 711,606.46 0.00 A-1 073247BJ6 SEN 2.03500% 311,685,000.00 599,041.25 18,431,824.74 A-2A 073247BK3 SEN 1.96500% 42,000,000.00 77,945.00 2,483,714.77 A-2B 073247BV9 SEN 2.19900% 18,000,000.00 37,383.00 1,064,449.19 M-1 073247BL1 MEZ 2.26500% 19,115,000.00 40,890.17 0.00 M-2 073247BM9 MEZ 2.36500% 6,371,000.00 14,230.34 0.00 M-3 073247BN7 MEZ 2.91500% 10,619,000.00 29,234.70 0.00 M-4 073247BP2 MEZ 3.16500% 4,247,000.00 12,694.99 0.00 B 073247BQ0 JUN 5.86500% 10,619,000.00 58,820.41 0.00 X 073247BR8 SEN 0.00000% 0.00 241,694.64 0.00 F 073247BS6 SEN 1.88500% 0.00 356,319.90 0.00 P 073247BT4 SEN 0.00000% 100.00 4,143.02 0.00 R 073247BU1 RES 0.00000% 0.00 0.00 0.00 Totals 422,656,100.00 2,184,003.88 21,979,988.70

~~UNITED~~Certificateholder ~~STATES~~Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 711,606.46 0.00 A-1 0.00 293,253,175.26 19,030,865.99 0.00 A-2A 0.00 39,516,285.23 2,561,659.77 0.00 A-2B 0.00 16,935,550.81 1,101,832.19 0.00 M-1 0.00 19,115,000.00 40,890.17 0.00 M-2 0.00 6,371,000.00 14,230.34 0.00 M-3 0.00 10,619,000.00 29,234.70 0.00 M-4 0.00 4,247,000.00 12,694.99 0.00 B 0.00 10,619,000.00 58,820.41 0.00 X 0.00 0.00 241,694.64 0.00 F 0.00 0.00 356,319.90 0.00 P 0.00 100.00 4,143.02 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 400,676,111.30 24,163,992.58 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

~~SECURITIES~~Principal ~~AND~~Distribution ~~EXCHANGE~~Statement ~~COMMISSION~~Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-IO 0.00 0.00 0.00 0.00 0.00 0.00 A-1 311,685,000.00 311,685,000.00 589,202.40 17,842,622.34 0.00 0.00 A-2A 42,000,000.00 42,000,000.00 79,395.87 2,404,318.91 0.00 0.00 A-2B 18,000,000.00 18,000,000.00 34,026.80 1,030,422.39 0.00 0.00 M-1 19,115,000.00 19,115,000.00 0.00 0.00 0.00 0.00 M-2 6,371,000.00 6,371,000.00 0.00 0.00 0.00 0.00 M-3 10,619,000.00 10,619,000.00 0.00 0.00 0.00 0.00 M-4 4,247,000.00 4,247,000.00 0.00 0.00 0.00 0.00 B 10,619,000.00 10,619,000.00 0.00 0.00 0.00 0.00 X 0.00 0.00 0.00 0.00 0.00 0.00 F 0.00 0.00 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R 0.00 0.00 0.00 0.00 0.00 0.00 Totals 422,656,100.00 422,656,100.00 702,625.07 21,277,363.64 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Washington~~Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-IO 0.00 0.00 0.00000000 0.00 A-1 18,431,824.74 D293,253,175.C26 0. ~~20549~~94086393 18,431,824.74 A-2A 2,483,714.77 39,516,285.23 0.94086393 2,483,714.77 A-2B 1,064,449.19 16,935,550.81 0.94086393 1,064,449.19 M-1 0.00 19,115,000.00 1.00000000 0.00 M-2 0.00 6,371,000.00 1.00000000 0.00 M-3 0.00 10,619,000.00 1.00000000 0.00 M-4 0.00 4,247,000.00 1.00000000 0.00 B 0.00 10,619,000.00 1.00000000 0.00 X 0.00 0.00 0.00000000 0.00 F 0.00 0.00 0.00000000 0.00 P 0.00 100.00 1.00000000 0.00 R 0.00 0.00 0.00000000 0.00 Totals 21,979,988.70 400,676,111.30 0.94799557 21,979,988.70

~~FORM~~Principal 8Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-KIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 311,685,000.00 1000.00000000 1.89037779 57.24568824 0.00000000 A-2A 42,000,000.00 1000.00000000 1.89037786 57.24568833 0.00000000 A-2B 18,000,000.00 1000.00000000 1.89037778 57.24568833 0.00000000 M-1 19,115,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 6,371,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 10,619,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 4,247,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B 10,619,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All Classes are per $1,000 denomination.

~~CURRENT~~Principal ~~REPORT~~Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-IO 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 0.00000000 59.13606603 940.86393397 0.94086393 59.13606603 A-2A 0.00000000 59.13606595 940.86393405 0.94086393 59.13606595 A-2B 0.00000000 59.13606611 940.86393389 0.94086393 59.13606611 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~PURSUANT~~Interest TODistribution ~~SECTION~~Statement 13Beginning ORPayment ~~15(d)~~of OFOriginal ~~THE~~Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 3.50000% 243,979,358.00 711,606.46 0.00 0.00 A-1 311,685,000.00 2.03500% 311,685,000.00 599,041.25 0.00 0.00 A-2A 42,000,000.00 1.96500% 42,000,000.00 77,945.00 0.00 0.00 A-2B 18,000,000.00 2.19900% 18,000,000.00 37,383.00 0.00 0.00 M-1 19,115,000.00 2.26500% 19,115,000.00 40,890.17 0.00 0.00 M-2 6,371,000.00 2.36500% 6,371,000.00 14,230.34 0.00 0.00 M-3 10,619,000.00 2.91500% 10,619,000.00 29,234.70 0.00 0.00 M-4 4,247,000.00 3.16500% 4,247,000.00 12,694.99 0.00 0.00 B 10,619,000.00 5.86500% 10,619,000.00 58,820.41 0.00 0.00 X 0.00 0.00000% 0.00 0.00 0.00 0.00 F 0.00 1.88500% 200,148,484.37 356,319.90 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 422,656,100.00 1,938,166.22 0.00 0.00

~~SECURITIES~~Interest ~~EXCHANGE~~Distribution ~~ACT~~Statement OF(continued) ~~1934~~Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-IO 0.00 0.00 711,606.46 0.00 231,656,685.00 A-1 0.00 0.00 599,041.25 0.00 293,253,175.26 A-2A 0.00 0.00 77,945.00 0.00 39,516,285.23 A-2B 0.00 0.00 37,383.00 0.00 16,935,550.81 M-1 0.00 0.00 40,890.17 0.00 19,115,000.00 M-2 0.00 0.00 14,230.34 0.00 6,371,000.00 M-3 0.00 0.00 29,234.70 0.00 10,619,000.00 M-4 0.00 0.00 12,694.99 0.00 4,247,000.00 B 0.00 0.00 58,820.41 0.00 10,619,000.00 X 0.00 0.00 241,694.64 0.00 0.00 F 0.00 0.00 356,319.90 0.00 193,580,318.20 P 0.00 0.00 4,143.02 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,184,003.88 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Date~~Interest Distribution Factors Statement Beginning Payment of ~~Report~~Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (~~Date~~5) ofAmount ~~earliest~~Rate ~~event~~Balance ~~reported~~Interest Shortfall Shortfall A-IO 0.00 3.50000% 1000.00000000 2.91666666 0.00000000 0.00000000 A-1 311,685,000.00 2.03500% 1000.00000000 1.92194443 0.00000000 0.00000000 A-2A 42,000,000.00 1.96500% 1000.00000000 1.85583333 0.00000000 0.00000000 A-2B 18,000,000.00 2.19900% 1000.00000000 2.07683333 0.00000000 0.00000000 M-1 19,115,000.00 2.26500% 1000.00000000 2.13916662 0.00000000 0.00000000 M-2 6,371,000.00 2.36500% 1000.00000000 2.23361168 0.00000000 0.00000000 M-3 10,619,000.00 2.91500% 1000.00000000 2.75305584 0.00000000 0.00000000 M-4 4,247,000.00 3.16500% 1000.00000000 2.98916647 0.00000000 0.00000000 B 10,619,000.00 5.86500% 1000.00000000 5.53916659 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00 1.88500% 998.89838596 1.77831660 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All Classes are per $1,000 denomination.

~~August~~Interest 25Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-IO 0.00000000 0.00000000 2.91666666 0.00000000 949.49296899 A-1 0.00000000 0.00000000 1.92194443 0.00000000 940.86393397 A-2A 0.00000000 0.00000000 1.85583333 0.00000000 940.86393405 A-2B 0.00000000 0.00000000 2.07683333 0.00000000 940.86393389 M-1 0.00000000 0.00000000 2.13916662 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.23361168 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.75305584 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 2.98916647 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.53916659 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00000000 0.00000000 1.77831660 0.00000000 966.11806985 P 0.00000000 0.00000000 41430.20000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, ~~2004~~Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

~~Bayview~~CERTIFICATEHOLDER ~~Financial~~ACCOUNT ~~Securities~~STATEMENT ~~Company~~CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 24,247,633.22 ~~LLC~~ Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 93,517.91 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 4,143.02 Total Deposits 24,345,294.15 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 181,301.57 Payment of Interest and Principal 24,163,992.58 Total Withdrawals (Pool Distribution Amount) 24,345,294.15 Ending Balance 0.00

~~(Exact~~PREPAYMENT/CURTAILMENT ~~Name~~INTEREST ofSHORTFALL ~~Registrant~~Total asPrepayment/Curtailment ~~Specified~~Interest inShortfall ~~its~~0.00 ~~Charter)~~Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00

Delaware	333-104181	56-2336517
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

4425 Ponce de Leon Boulevard, 4th Floor Coral Gables, Florida		33146
(Address of Principal Executive Offices)		(Zip Code)

~~Registrant’s~~LOAN ~~telephone~~STATUS ~~number~~STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 50 0 0 50 4,474,919.92 ~~including~~0.00 ~~area~~0.00 ~~code: (305)~~4,474,919.92 ~~341~~30 Days 104 3 0 1 108 10,095,982.43 409,442.71 0.00 47,426.86 10,552,852.00 60 Days 10 1 0 1 12 811,322.97 59,657.40 0.00 59,759.22 930,739.59 90 Days 1 1 0 0 2 106,868.85 54,355.28 0.00 0.00 161,224.13 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 1 0 0 0 1 43,901.66 0.00 0.00 0.00 43,901.66 180+ Days 1 0 0 0 1 109,716.79 0.00 0.00 0.00 109,716.79 Totals 117 55 0 2 174 11,167,792.70 4,998,375.31 0.00 107,186.08 16,273,354.09 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-~~5632~~29 Days 1.325205% 0.000000% 0.000000% 1.325205% 1.108572% 0.000000% 0.000000% 1.108572% 30 Days 2.756427% 0.079512% 0.000000% 0.026504% 2.862444% 2.501077% 0.101431% 0.000000% 0.011749% 2.614258% 60 Days 0.265041% 0.026504% 0.000000% 0.026504% 0.318049% 0.200989% 0.014779% 0.000000% 0.014804% 0.230572% 90 Days 0.026504% 0.026504% 0.000000% 0.000000% 0.053008% 0.026475% 0.013465% 0.000000% 0.000000% 0.039940% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.026504% 0.000000% 0.000000% 0.000000% 0.026504% 0.010876% 0.000000% 0.000000% 0.000000% 0.010876% 180+ Days 0.026504% 0.000000% 0.000000% 0.000000% 0.026504% 0.027180% 0.000000% 0.000000% 0.000000% 0.027180% Totals 3.100981% 1.457726% 0.000000% 0.053008% 4.611715% 2.766597% 1.238247% 0.000000% 0.026553% 4.031397%

~~None~~ Delinquency Status By Groups DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 28 0 0 28 1,490,221.57 0.00 0.00 1,490,221.57 30 Days 84 2 0 1 87 7,427,228.38 304,213.63 0.00 47,426.86 7,778,868.87 60 Days 8 1 0 1 10 571,679.41 59,657.40 0.00 59,759.22 691,096.03 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 1 0 0 0 1 43,901.66 0.00 0.00 0.00 43,901.66 180 Days 1 0 0 0 1 109,716.79 0.00 0.00 0.00 109,716.79 Totals 94 31 0 2 127 8,152,526.24 1,854,092.60 0.00 107,186.08 10,113,804.92 0-29 Days 1.233480% 0.000000% 0.000000% 1.233480% 0.768577% 0.000000% 0.000000% 0.768577% 30 Days 3.700441% 0.088106% 0.000000% 0.044053% 3.832599% 3.830571% 0.156897% 0.000000% 0.024460% 4.011929% 60 Days 0.352423% 0.044053% 0.000000% 0.044053% 0.440529% 0.294842% 0.030768% 0.000000% 0.030821% 0.356431% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.044053% 0.000000% 0.000000% 0.000000% 0.044053% 0.022642% 0.000000% 0.000000% 0.000000% 0.022642% 180 Days 0.044053% 0.000000% 0.000000% 0.000000% 0.044053% 0.056586% 0.000000% 0.000000% 0.000000% 0.056586% Totals 4.140969% 1.365639% 0.000000% 0.088106% 5.594714% 4.204642% 0.956243% 0.000000% 0.055281% 5.216165% DELINQUENT BANKRUPTCY FORECLOSURE REO Total Group 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 22 0 0 22 2,984,698.35 0.00 0.00 2,984,698.35 30 Days 20 1 0 0 21 2,668,754.05 105,229.08 0.00 0.00 2,773,983.13 60 Days 2 0 0 0 2 239,643.56 0.00 0.00 0.00 239,643.56 90 Days 1 1 0 0 2 106,868.85 54,355.28 0.00 0.00 161,224.13 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 23 24 0 0 47 3,015,266.46 3,144,282.71 0.00 0.00 6,159,549.17 0-29 Days 1.463739% 0.000000% 0.000000% 1.463739% 1.422831% 0.000000% 0.000000% 1.422831% 30 Days 1.330672% 0.066534% 0.000000% 0.000000% 1.397206% 1.272217% 0.050164% 0.000000% 0.000000% 1.322381% 60 Days 0.133067% 0.000000% 0.000000% 0.000000% 0.133067% 0.114240% 0.000000% 0.000000% 0.000000% 0.114240% 90 Days 0.066534% 0.066534% 0.000000% 0.000000% 0.133067% 0.050945% 0.025912% 0.000000% 0.000000% 0.076857% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 1.530273% 1.596806% 0.000000% 0.000000% 3.127079% 1.437403% 1.498906% 0.000000% 0.000000% 2.936309%

~~(Former~~OTHER ~~Name~~INFORMATION orCurrent ~~Former~~Period ~~Address,~~Class ifA ~~Changed~~Insufficient ~~Since~~Funds ~~Last~~0.00 ~~Report)~~Principal Balance of Contaminated Properties 0.00 Periodic Advance 93,517.91

~~Check~~Class ~~the~~F ~~appropriate~~50,971,100.00 ~~box~~11.99928152% ~~below~~50,971,100.00 if12.64637369% ~~the~~0.000000% ~~Form~~0.000000% 8Class M-K1 ~~filing~~31,856,100.00 is7.49935379% ~~intended~~31,856,100.00 to7.90377577% ~~simultaneously~~4.742598% ~~satisfy~~0.000000% ~~the~~Class ~~filing~~M-2 ~~obligation~~25,485,100.00 of5.99953482% ~~the~~25,485,100.00 ~~registrant~~6.32307520% ~~under~~1.580701% ~~any~~0.000000% ofClass M-3 14,866,100.00 3.49967960% 14,866,100.00 3.68840884% 2.634666% 0.000000% Class M-4 10,619,100.00 2.49987876% 10,619,100.00 2.63469117% 1.053718% 0.000000% Class B 100.00 0.00002354% 100.00 0.00002481% 2.634666% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000025% 0.000000% Class X 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Class R 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000% Please Refer to the ~~following~~Prospectus ~~provisions:~~Supplement for a Full Description of Loss Exposure

~~[ ]~~COLLATERAL ~~Written~~STATEMENT ~~communications~~Collateral ~~pursuant~~Description toMixed ~~Rule~~Fixed ~~425~~& ~~under~~Arm ~~the~~Weighted ~~Securities~~Average ~~Act~~Gross ~~(17~~Coupon ~~CFR~~7.343146% ~~230~~Weighted Average Net Coupon 6.~~425~~853480% Weighted Average Pass-Through Rate 6.830980% Weighted Average Maturity(Stepdown Calculation ) 280 Beginning Scheduled Collateral Loan Count 3,884 Number Of Loans Paid In Full 111 Ending Scheduled Collateral Loan Count 3,773 Beginning Scheduled Collateral Balance 424,784,599.99 Ending Scheduled Collateral Balance 403,049,136.72 Ending Actual Collateral Balance at 31-Aug-2004 403,665,336.92 Monthly P &I Constant 3,302,021.94 Special Servicing Fee 0.00 Prepayment Penalties 4,143.02 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal 702,625.07 Unscheduled Principal 21,035,668.99

~~[ ]~~Other ~~Soliciting~~Income ~~material~~3,949.95 ~~pursuant~~Non toSupp ~~Rule~~Compensating ~~14a-12~~Interes ~~under the Exchange Act~~ (~~17 CFR 240~~490.~~14a-12~~09)

~~[ ]~~Miscellaneous ~~Pre-commencement~~Reporting ~~communications~~Base ~~pursuant~~Overcollateralization toAmount ~~Rule 14d-~~2~~(b)~~,131,330.78 ~~under~~Excess ~~the~~Cash ~~Exchange~~Amount ~~Act~~483,389.28 ~~(17~~Extra ~~CFR~~Principal ~~240~~Distribution Amount 241,694.~~14d-~~64 Overcollateralized Amount 2~~(b))~~,373,025.42 Overcollaterized Deficiency Amount 9,550,223.57 Specified Overcollateralization Amount 11,681,654.35

~~[ ]~~Group ~~Pre-commencement~~Level ~~communications~~Collateral ~~pursuant~~Statement toGroup ~~Rule~~Group ~~13e-4(c)~~1 ~~under~~Group ~~the~~2 ~~Exchange~~Total ~~Act~~Collateral ~~(17~~Description ~~CFR~~Fixed ~~240~~15/30 & ARM Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~13e~~839438 6.900961 7.343146 Weighted Average Net Rate 7.338414 6.421414 6.853480 Weighted Average Maturity 262 295 280 Beginning Loan Count 2,309 1,575 3,884 Loans Paid In Full 39 72 111 Ending Loan Count 2,270 1,503 3,773 Beginning Scheduled Balance 200,148,484.37 224,638,946.41 424,787,430.78 Ending scheduled Balance 193,580,318.20 209,468,818.52 403,049,136.72 Record Date 08/31/2004 08/31/2004 08/31/2004 Principal And Interest Constant 1,664,456.86 1,637,565.08 3,302,021.94 Scheduled Principal 356,913.79 345,711.28 702,625.07 Unscheduled Principal 6,211,252.38 14,824,416.61 21,035,668.99 Scheduled Interest 1,307,543.07 1,291,853.80 2,599,396.87 Servicing Fees 83,565.94 89,770.86 173,336.80 Master Servicing Fees 2,501.86 2,807.98 5,309.84 Trustee Fee 833.95 936.00 1,769.95 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 416.98 468.00 884.98 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,220,224.23 1,197,871.19 2,418,095.42 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-~~4(c))~~Through Rate 7.315914 6.398914 6.830980

Item 8.01. Other Events.

1. Capitalized terms used but not otherwise defined herein shall have the same meanings ascribed to them in the Prospectus.

The Registrant registered issuances of Mortgage Pass-Through Certificates, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended (the “Act”), by a Registration Statement on Form S-3 (Registration File No. 333-104181) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $422,656,000 in aggregate principal amount of Class A-IO, Class A1, Class A2A, Class A2B, Class M-1, Class M-2, Class M-3, Class M-4 and Class B Bayview Financial Mortgage Pass-Through Certificates, Series 2004-C on August 25, 2004. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated August 6, 2004, as supplemented by the Prospectus Supplement dated August 6, 2004 (collectively, the “Prospectus”), to file a copy of the Pooling and Servicing Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Certificates were issued pursuant to a Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), attached hereto as Exhibit 4.1, dated as of August 1, 2004 among Bayview Financial Securities Company, LLC, as depositor, Wachovia Bank, National Association, as trustee, and Wells Fargo Bank, N.A., as master servicer. The “Certificates” consist of the following classes: Class A-IO, Class A1, Class A2A, Class A2B, Class M-1, Class M-2, Class M-3, Class M-4 and Class B, Class F, Class X, Class P and Class R.

The Certificates evidence all of the beneficial ownership interest in a trust fund (the “Trust Fund”), the assets of which consist primarily of a pool of certain first lien, fixed and adjustable rate, fully amortizing and balloon loans secured by single-family residential, multifamily, commercial and mixed use properties (the “Mortgage Loans”) with an aggregate outstanding principal balance of approximately $424,787,430 as of August 1, 2004, together with certain other assets. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Pooling and Servicing Agreement.

Item 9.01. Financial Statements and Exhibits.

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.1

Pooling and Servicing Agreement, dated as of August 1, 2004, among Bayview Financial Securities Company, LLC, as Depositor, Wachovia Bank, National Association, as Trustee, and Wells Fargo Bank, N.A., as Master Servicer.

99.1

Servicing Agreement, dated as of August 1, 2004, between M&T Mortgage Corporation, as Servicer and Wachovia Bank, National Association, as Trustee.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BAYVIEW FINANCIAL SECURITIES COMPANY, LLC

By: /s/ Stuart Waldman

Name: Stuart Waldman

Title: Vice President

Dated: August 25, 2004

EXHIBIT INDEX

Exhibit No.

Description

4.1 Pooling and Servicing Agreement, dated as of August 1, 2004, among Bayview Financial Securities Company, LLC, as Depositor, Wachovia Bank, National Association, as Trustee, and Wells Fargo Bank, N.A., as Master Servicer.

99.1 Servicing Agreement, dated as of August 1, 2004, between M&T Mortgage Corporation, as Servicer and Wachovia Bank, National Association, as Trustee.

Filing Compare · Bayview Financial Sec Co LLC Mort Pas Thr Certs Ser 2004 C