8-K 1 bay0400c_nov.txt NOVEMBER 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): November 29, 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 November 29, 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 November 29, 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: 11/30/2004 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 November 29, 2004 distribution. EX-99.1

Bayview Financial Acquisition Trust Mortgage Pass-Through Certificates Record Date: 810/3130/2004 Distribution Date: 911/2829/2004 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~~641,~~606~~538.4660 0.00 A-1 073247BJ6 SEN 2.~~03500~~37875% ~~311~~283,~~685~~337,~~000~~094.0006 599,~~041~~100.2554 1811,~~431~~829,~~824~~681.7405 A-2A 073247BK3 SEN 12.~~96500~~30875% 4238,~~000~~180,~~000~~079.0009 7778,~~945~~354.0001 21,~~483~~594,~~714~~066.7746 A-2B 073247BV9 SEN 2.~~19900~~54275% 1816,~~000~~362,~~000~~891.0004 3736,~~383~~983.0077 1683,~~064,449~~171.1934 M-1 073247BL1 MEZ 2.~~26500~~60875% 19,115,000.00 4044,~~890~~325.1756 0.00 M-2 073247BM9 MEZ 2.~~36500~~70875% 6,371,000.00 1415,~~230~~339.3495 0.00 M-3 073247BN7 MEZ 23.~~91500~~25875% 10,619,000.00 2930,~~234~~759.70 0.00 M-4 073247BP2 MEZ 3.~~16500~~50875% 4,247,000.00 1213,~~694~~245.9992 0.00 B 073247BQ0 JUN 56.~~86500~~20875% 10,619,000.00 58,~~820~~605.4108 0.00 X 073247BR8 SEN 0.00000% 0.00 ~~241~~229,~~694~~116.6452 0.00 F 073247BS6 SEN 1.~~88500~~54125% 0.00 ~~356~~260,~~319~~096.9046 0.00 P 073247BT4 SEN 0.00000% 100.00 43,~~143~~888.0236 0.00 R 073247BU1 RES 0.00000% 0.00 0.00 0.00 Totals ~~422~~388,~~656~~851,~~100~~164.0019 2,~~184~~011,~~003~~354.8847 2114,~~979~~106,~~988~~918.7085

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 ~~711~~641,~~606~~538.4660 0.00 A-1 0.00 ~~293~~271,~~253~~507,~~175~~413.2601 1912,~~030~~428,~~865~~781.9959 0.00 A-2A 0.00 3936,~~516~~586,~~285~~012.2363 21,~~561~~672,~~659~~420.7747 0.00 A-2B 0.00 1615,~~935~~679,~~550~~719.8170 1720,~~101,832~~155.1911 0.00 M-1 0.00 19,115,000.00 4044,~~890~~325.1756 0.00 M-2 0.00 6,371,000.00 1415,~~230~~339.3495 0.00 M-3 0.00 10,619,000.00 2930,~~234~~759.70 0.00 M-4 0.00 4,247,000.00 1213,~~694~~245.9992 0.00 B 0.00 10,619,000.00 58,~~820~~605.4108 0.00 X 0.00 0.00 ~~241~~229,~~694~~116.6452 0.00 F 0.00 0.00 ~~356~~260,~~319~~096.9046 0.00 P 0.00 100.00 43,~~143~~888.0236 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~400~~374,~~676~~744,~~111~~245.3034 2416,~~163~~118,~~992~~273.5832 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement 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~~283,~~685~~337,~~000~~094.0006 ~~589~~559,~~202~~702.4079 1711,~~842~~269,~~622~~978.3426 0.00 0.00 A-2A 42,000,000.00 4238,~~000~~180,~~000~~079.0009 7975,~~395~~420.8775 21,~~404~~518,~~318~~645.9171 0.00 0.00 A-2B 18,000,000.00 1816,~~000~~362,~~000~~891.0004 3432,~~026~~323.8018 1650,~~030,422~~848.3916 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~~388,~~656~~851,~~100~~164.0019 ~~702~~667,~~625~~446.0772 2113,~~277~~439,~~363~~472.6413 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.

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 1811,~~431~~829,~~824~~681.7405 ~~293~~271,~~253~~507,~~175~~413.2601 0.~~94086393~~87109554 1811,~~431~~829,~~824~~681.7405 A-2A 21,~~483~~594,~~714~~066.7746 3936,~~516~~586,~~285~~012.2363 0.~~94086393~~87109554 21,~~483~~594,~~714~~066.7746 A-2B 1683,~~064,449~~171.1934 1615,~~935~~679,~~550~~719.8170 0.~~94086393~~87109554 1683,~~064,449~~171.1934 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 2114,~~979~~106,~~988~~918.7085 ~~400~~374,~~676~~744,~~111~~245.3034 0.~~94799557~~88664104 2114,~~979~~106,~~988~~918.7085

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-IO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 A-1 311,685,000.00 ~~1000~~909.~~00000000~~04950209 1.~~89037779~~79573220 5736.~~24568824~~15823110 0.00000000 A-2A 42,000,000.00 ~~1000~~909.~~00000000~~04950214 1.~~89037786~~79573214 5736.~~24568833~~15823119 0.00000000 A-2B 18,000,000.00 ~~1000~~909.~~00000000~~04950222 1.~~89037778~~79573222 5736.~~24568833~~15823111 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.

Principal 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 5937.~~13606603~~95396330 ~~940~~871.~~86393397~~09553880 0.~~94086393~~87109554 5937.~~13606603~~95396330 A-2A 0.00000000 5937.~~13606595~~95396333 ~~940~~871.~~86393405~~09553881 0.~~94086393~~87109554 5937.~~13606595~~95396333 A-2B 0.00000000 5937.~~13606611~~95396333 ~~940~~871.~~86393389~~09553889 0.~~94086393~~87109554 5937.~~13606611~~95396333 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.

Interest Distribution Statement Beginning Payment of Original 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~~219,~~979~~956,~~358~~090.00 ~~711~~641,~~606~~538.4660 0.00 0.00 A-1 311,685,000.00 2.~~03500~~37875% ~~311~~283,~~685~~337,~~000~~094.0006 599,~~041~~100.2554 0.00 0.00 A-2A 42,000,000.00 12.~~96500~~30875% 4238,~~000~~180,~~000~~079.0009 7778,~~945~~354.0001 0.00 0.00 A-2B 18,000,000.00 2.~~19900~~54275% 1816,~~000~~362,~~000~~891.0004 3736,~~383~~983.0077 0.00 0.00 M-1 19,115,000.00 2.~~26500~~60875% 19,115,000.00 4044,~~890~~325.1756 0.00 0.00 M-2 6,371,000.00 2.~~36500~~70875% 6,371,000.00 1415,~~230~~339.3495 0.00 0.00 M-3 10,619,000.00 23.~~91500~~25875% 10,619,000.00 2930,~~234~~759.70 0.00 0.00 M-4 4,247,000.00 3.~~16500~~50875% 4,247,000.00 1213,~~694~~245.9992 0.00 0.00 B 10,619,000.00 56.~~86500~~20875% 10,619,000.00 58,~~820~~605.4108 0.00 0.00 X 0.00 0.00000% 0.00 0.00 0.00 0.00 F 0.00 1.~~88500~~54125% ~~200~~189,~~148~~851,~~484~~430.3720 ~~356~~260,~~319~~096.9046 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~~778,~~166~~349.2259 0.00 0.00

Interest Distribution Statement (continued) 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~~641,~~606~~538.4660 0.00 ~~231~~208,~~656~~843,~~685~~921.00 A-1 0.00 0.00 599,~~041~~100.2554 0.00 ~~293~~271,~~253~~507,~~175~~413.2601 A-2A 0.00 0.00 7778,~~945~~354.0001 0.00 3936,~~516~~586,~~285~~012.2363 A-2B 0.00 0.00 3736,~~383~~983.0077 0.00 1615,~~935~~679,~~550~~719.8170 M-1 0.00 0.00 4044,~~890~~325.1756 0.00 19,115,000.00 M-2 0.00 0.00 1415,~~230~~339.3495 0.00 6,371,000.00 M-3 0.00 0.00 2930,~~234~~759.70 0.00 10,619,000.00 M-4 0.00 0.00 1213,~~694~~245.9992 0.00 4,247,000.00 B 0.00 0.00 58,~~820~~605.4108 0.00 10,619,000.00 X 0.00 0.00 ~~241~~229,~~694~~116.6452 0.00 0.00 F 0.00 0.00 ~~356~~260,~~319~~096.9046 0.00 ~~193~~186,~~580~~162,~~318~~047.2095 P 0.00 0.00 43,~~143~~888.0236 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 2,~~184~~011,~~003~~354.8847 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.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-IO 0.00 3.50000% ~~1000~~901.~~00000000~~53565368 2.~~91666666~~62947901 0.00000000 0.00000000 A-1 311,685,000.00 2.~~03500~~37875% ~~1000~~909.~~00000000~~04950209 1.~~92194443~~92213466 0.00000000 0.00000000 A-2A 42,000,000.00 12.~~96500~~30875% ~~1000~~909.~~00000000~~04950214 1.~~85583333~~86557167 0.00000000 0.00000000 A-2B 18,000,000.00 2.~~19900~~54275% ~~1000~~909.~~00000000~~04950222 2.~~07683333~~05465389 0.00000000 0.00000000 M-1 19,115,000.00 2.~~26500~~60875% 1000.00000000 2.~~13916662~~31888883 0.00000000 0.00000000 M-2 6,371,000.00 2.~~36500~~70875% 1000.00000000 2.~~23361168~~40777743 0.00000000 0.00000000 M-3 10,619,000.00 23.~~91500~~25875% 1000.00000000 2.~~75305584~~89666635 0.00000000 0.00000000 M-4 4,247,000.00 3.~~16500~~50875% 1000.00000000 23.~~98916647~~11888863 0.00000000 0.00000000 B 10,619,000.00 56.~~86500~~20875% 1000.00000000 5.~~53916659~~51888878 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00 1.~~88500~~54125% ~~998~~947.~~89838596~~50798536 1.~~77831660~~29808594 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.

Interest Distribution 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~~62947901 0.00000000 ~~949~~855.~~49296899~~99012438 A-1 0.00000000 0.00000000 1.~~92194443~~92213466 0.00000000 ~~940~~871.~~86393397~~09553880 A-2A 0.00000000 0.00000000 1.~~85583333~~86557167 0.00000000 ~~940~~871.~~86393405~~09553881 A-2B 0.00000000 0.00000000 2.~~07683333~~05465389 0.00000000 ~~940~~871.~~86393389~~09553889 M-1 0.00000000 0.00000000 2.~~13916662~~31888883 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~23361168~~40777743 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~75305584~~89666635 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 23.~~98916647~~11888863 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~53916659~~51888878 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00000000 0.00000000 1.~~77831660~~29808594 0.00000000 ~~966~~929.~~11806985~~09506564 P 0.00000000 0.00000000 ~~41430~~38883.~~20000000~~60000000 0.00000000 1000.00000000 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2416,~~247~~257,~~633~~247.2252 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 93146,~~517~~907.9156 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 43,~~143~~888.0236 Total Deposits 2416,~~345~~408,~~294~~043.1544 Withdrawals Reimbursement for Servicer Advances 0122,283.0092 Payment of Service Fee ~~181~~167,~~301~~486.5720 Payment of Interest and Principal 2416,~~163~~118,~~992~~273.5832 Total Withdrawals (Pool Distribution Amount) 2416,~~345~~408,~~294~~043.1544 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~173~~160,~~336~~145.8058 Custodian Fee ~~884~~815.9862 Master Servicing Fee 54,~~309~~893.8475 Trustee Fee 1,~~769~~631.9525 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~181~~167,~~301~~486.5720

LOAN STATUS 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 5040 0 0 5040 43,~~474~~676,~~919~~453.9293 0.00 0.00 43,~~474~~676,~~919~~453.9293 30 Days ~~104~~131 36 0 10 ~~108~~137 1012,~~095~~820,~~982~~760.4377 ~~409~~433,~~442~~127.7199 0.00 ~~47,426~~0.8600 1013,~~552~~253,~~852~~888.0076 60 Days 1044 12 0 10 1246 ~~811~~3,~~322~~478,230.9777 59164,~~657~~534.4085 0.00 ~~59,759~~0.2200 ~~930~~3,~~739~~642,765.5962 90 Days 12 12 08 0 212 ~~106~~57,~~868~~088.8574 54296,~~355~~599.2898 0409,280.0027 0.00 ~~161~~762,~~224~~968.1399 120 Days 02 0 01 03 06 0209,097.0097 0.00 0109,938.0033 0233,613.0017 0552,649.0047 150 Days 10 0 0 0 10 ~~43,901~~0.6600 0.00 0.00 0.00 ~~43,901~~0.6600 180+ Days 10 0 0 0 10 ~~109,716~~0.7900 0.00 0.00 0.00 ~~109,716~~0.7900 Totals ~~117~~179 5550 09 23 ~~174~~241 1116,~~167~~565,~~792~~178.7025 4,~~998~~570,~~375~~716.3175 0519,218.0060 ~~107~~233,~~186~~613.0817 1621,~~273~~888,~~354~~726.0977 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 1.~~325205~~109262% 0.000000% 0.000000% 1.~~325205~~109262% 10.~~108572~~971997% 0.000000% 0.000000% 10.~~108572~~971997% 30 Days 23.~~756427~~632834% 0.~~079512~~166389% 0.000000% 0.~~026504~~000000% 23.~~862444~~799224% 23.~~501077~~389610% 0.~~101431~~114512% 0.000000% 0.~~011749~~000000% 23.~~614258~~504122% 60 Days 01.~~265041~~220189% 0.~~026504~~055463% 0.000000% 0.~~026504~~000000% 01.~~318049~~275652% 0.~~200989~~919590% 0.~~014779~~043500% 0.000000% 0.~~014804~~000000% 0.~~230572~~963091% 90 Days 0.~~026504~~055463% 0.~~026504~~055463% 0.~~000000~~221852% 0.000000% 0.~~053008~~332779% 0.~~026475~~015093% 0.~~013465~~078416% 0.~~000000~~108207% 0.000000% 0.~~039940~~201717% 120 Days 0.~~000000~~055463% 0.000000% 0.~~000000~~027732% 0.~~000000~~083195% 0.~~000000~~166389% 0.~~000000~~055282% 0.000000% 0.~~000000~~029066% 0.~~000000~~061764% 0.~~000000~~146112% 150 Days 0.~~026504~~000000% 0.000000% 0.000000% 0.000000% 0.~~026504~~000000% 0.~~010876~~000000% 0.000000% 0.000000% 0.000000% 0.~~010876~~000000% 180+ Days 0.~~026504~~000000% 0.000000% 0.000000% 0.000000% 0.~~026504~~000000% 0.~~027180~~000000% 0.000000% 0.000000% 0.000000% 0.~~027180~~000000% Totals 34.~~100981~~963949% 1.~~457726~~386578% 0.~~000000~~249584% 0.~~053008~~083195% 46.~~611715~~683306% 24.~~766597~~379576% 1.~~238247~~208426% 0.~~000000~~137273% 0.~~026553~~061764% 45.~~031397~~787039%

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 2825 0 0 2825 1,~~490~~277,~~221~~279.5705 0.00 0.00 1,~~490~~277,~~221~~279.5705 30 Days 8495 2 0 10 8797 7,~~427~~434,~~228~~676.3853 ~~304~~94,~~213~~701.6365 0.00 ~~47,426~~0.8600 7,~~778~~529,~~868~~378.8718 60 Days 832 1 0 10 1033 ~~571~~2,~~679~~049,935.4189 59,~~657~~604.4050 0.00 ~~59,759~~0.2200 ~~691~~2,~~096~~109,540.0339 90 Days 02 01 06 0 09 057,088.0074 0242,348.0018 0266,288.0054 0.00 0565,725.0046 120 Days 02 0 0 03 05 0209,097.0097 0.00 0.00 0233,613.0017 0442,711.0014 150 Days 10 0 0 0 10 ~~43,901~~0.6600 0.00 0.00 0.00 ~~43,901~~0.6600 180 Days 10 0 0 0 10 ~~109,716~~0.7900 0.00 0.00 0.00 ~~109,716~~0.7900 Totals 94131 3129 06 23 ~~127~~169 89,~~152~~750,~~526~~799.2413 1,~~854~~673,~~092~~933.6038 0266,288.0054 ~~107~~233,~~186~~613.0817 1011,~~113~~924,~~804~~634.9222 0-29 Days 1.~~233480~~137398% 0.000000% 0.000000% 1.~~233480~~137398% 0.~~768577~~684966% 0.000000% 0.000000% 0.~~768577~~684966% 30 Days 34.~~700441~~322111% 0.~~088106~~090992% 0.000000% 0.~~044053~~000000% 34.~~832599~~413103% 3.~~830571~~986990% 0.~~156897~~050786% 0.000000% 0.~~024460~~000000% 4.~~011929~~037775% 60 Days 01.~~352423~~455869% 0.~~044053~~045496% 0.000000% 0.~~044053~~000000% 01.~~440529~~501365% 01.~~294842~~099318% 0.~~030768~~031964% 0.000000% 0.~~030821~~000000% 01.~~356431~~131282% 90 Days 0.~~000000~~090992% 0.~~000000~~045496% 0.~~000000~~272975% 0.000000% 0.~~000000~~409463% 0.~~000000~~030615% 0.~~000000~~129964% 0.~~000000~~142802% 0.000000% 0.~~000000~~303381% 120 Days 0.~~000000~~090992% 0.000000% 0.000000% 0.~~000000~~136488% 0.~~000000~~227480% 0.~~000000~~112133% 0.000000% 0.000000% 0.~~000000~~125280% 0.~~000000~~237412% 150 Days 0.~~044053~~000000% 0.000000% 0.000000% 0.000000% 0.~~044053~~000000% 0.~~022642~~000000% 0.000000% 0.000000% 0.000000% 0.~~022642~~000000% 180 Days 0.~~044053~~000000% 0.000000% 0.000000% 0.000000% 0.~~044053~~000000% 0.~~056586~~000000% 0.000000% 0.000000% 0.000000% 0.~~056586~~000000% Totals 45.~~140969~~959964% 1.~~365639~~319381% 0.~~000000~~272975% 0.~~088106~~136488% 57.~~594714~~688808% 45.~~204642~~229056% 0.~~956243~~897679% 0.~~000000~~142802% 0.~~055281~~125280% 56.~~216165~~394817% 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 2215 0 0 2215 2,~~984~~399,~~698~~174.3588 0.00 0.00 2,~~984~~399,~~698~~174.3588 30 Days 2036 14 0 0 2140 25,~~668~~386,~~754~~084.0524 ~~105~~338,~~229~~426.0834 0.00 0.00 25,~~773~~724,~~983~~510.1358 60 Days 212 01 0 0 213 ~~239~~1,~~643~~428,294.5688 0104,930.0035 0.00 0.00 ~~239~~1,~~643~~533,225.5623 90 Days 10 1 02 0 23 ~~106,868~~0.8500 54,~~355~~251.2880 0142,991.0073 0.00 ~~161~~197,~~224~~243.1353 120 Days 0 0 01 0 01 0.00 0.00 0109,938.0033 0.00 0109,938.0033 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 2348 2421 03 0 4772 36,~~015~~814,~~266~~379.4612 32,~~144~~896,~~282~~783.7137 0252,930.0006 0.00 69,~~159~~964,~~549~~092.1755 0-29 Days 1.~~463739~~065341% 0.000000% 0.000000% 1.~~463739~~065341% 1.~~422831~~251110% 0.000000% 0.000000% 1.~~422831~~251110% 30 Days 12.~~330672~~556818% 0.~~066534~~284091% 0.000000% 0.000000% 12.~~397206~~840909% 12.~~272217~~808710% 0.~~050164~~176481% 0.000000% 0.000000% 12.~~322381~~985191% 60 Days 0.~~133067~~852273% 0.~~000000~~071023% 0.000000% 0.000000% 0.~~133067~~923295% 0.~~114240~~744821% 0.~~000000~~054719% 0.000000% 0.000000% 0.~~114240~~799539% 90 Days 0.~~066534~~000000% 0.~~066534~~071023% 0.~~000000~~142045% 0.000000% 0.~~133067~~213068% 0.~~050945~~000000% 0.~~025912~~028291% 0.~~000000~~074567% 0.000000% 0.~~076857~~102858% 120 Days 0.000000% 0.000000% 0.~~000000~~071023% 0.000000% 0.~~000000~~071023% 0.000000% 0.000000% 0.~~000000~~057330% 0.000000% 0.~~000000~~057330% 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 13.~~530273~~409091% 1.~~596806~~491477% 0.~~000000~~213068% 0.000000% 35.~~127079~~113636% 13.~~437403~~553531% 1.~~498906~~510601% 0.~~000000~~131897% 0.000000% 25.~~936309~~196028%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 93146,~~517~~907.9156 Class F 50,971,100.00 11.99928152% 50,971,100.00 13.49790179% 0.000000% 0.000000% Class M-1 31,856,100.00 7.49935379% 31,856,100.00 8.43596684% 5.061935% 0.000000% Class M-2 25,485,100.00 5.99953482% 25,485,100.00 6.74883173% 1.687135% 0.000000% Class M-3 14,866,100.00 3.49967960% 14,866,100.00 3.93676334% 2.812068% 0.000000% Class M-4 10,619,100.00 2.49987876% 10,619,100.00 2.81209487% 1.124668% 0.000000% Class B 100.00 0.00002354% 100.00 0.00002648% 2.812068% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.000026% 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 Prospectus Supplement for a Full Description of Loss Exposure

~~Class~~COLLATERAL FSTATEMENT ~~50,971,100.00~~Collateral ~~11.99928152%~~Description ~~50,971,100.00~~Mixed ~~12.64637369%~~Fixed ~~0.000000%~~& ~~0.000000%~~Arm ~~Class~~Weighted ~~M-1~~Average ~~31,856,100.00~~Gross Coupon 7.~~49935379~~361038% ~~31,856,100.00~~Weighted ~~7.90377577%~~Average ~~4.742598%~~Net 0Coupon 6.~~000000~~870170% ~~Class~~Weighted MAverage Pass-2Through ~~25,485,100.00~~Rate 56.~~99953482~~847670% ~~25,485,100.00~~Weighted ~~6.32307520%~~Average ~~1.580701%~~Maturity(Stepdown ~~0.000000%~~Calculation ~~Class~~) ~~M-3~~278 ~~14,866,100.00~~Beginning ~~3.49967960%~~Scheduled ~~14,866,100.00~~Collateral Loan Count 3~~.68840884%~~,691 ~~2.634666%~~Number ~~0.000000%~~Of ~~Class~~Loans ~~M-4~~Paid ~~10,619,100.00~~In ~~2.49987876%~~Full ~~10,619,100.00~~85 ~~2.63469117%~~Ending ~~1.053718%~~Scheduled ~~0.000000%~~Collateral ~~Class~~Loan BCount ~~100.00~~3,606 ~~0.00002354%~~Beginning ~~100.00~~Scheduled ~~0.00002481%~~Collateral ~~2.634666%~~Balance 0391,500,197.~~000000%~~20 ~~Class~~Ending PScheduled ~~0.00~~Collateral ~~0.00000000%~~Balance 0377,622,394.0087 ~~0.00000000%~~Ending ~~0.000025%~~Actual ~~0.000000%~~Collateral ~~Class~~Balance Xat ~~0.00~~30-Oct-2004 0378,237,054.~~00000000%~~63 ~~0.00~~Monthly ~~0.00000000%~~P ~~0.000000%~~&I 0Constant 3,068,986.~~000000%~~51 ~~Class~~Special RServicing ~~0.00~~Fee 0.~~00000000% 0.~~00 ~~0.00000000%~~Prepayment ~~0.000000%~~Penalties 03,888.~~000000%~~36 ~~Please~~Realized ~~Refer~~Loss toAmount ~~the~~0.00 ~~Prospectus~~Cumulative ~~Supplement~~Realized ~~for~~Loss a0.00 ~~Full~~Scheduled ~~Description~~Principal of667,446.72 ~~Loss~~Unscheduled ~~Exposure~~Principal 13,210,355.61

~~COLLATERAL~~Other ~~STATEMENT~~Income ~~Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.343146% Weighted Average Net Coupon~~ 6,031.~~853480%~~08 ~~Weighted~~Non ~~Average~~Supp ~~Pass-Through~~Compensating ~~Rate~~Interes ~~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~~501.99 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 21,035,668.9983)

~~Other~~Miscellaneous ~~Income~~Reporting 3Base Overcollateralization Amount 2,~~949~~123,937.9515 ~~Non~~Excess ~~Supp~~Cash ~~Compensating~~Amount ~~Interes~~458,233.03 ~~(490~~Extra Principal Distribution Amount 229,116.~~09)~~52 Overcollateralized Amount 2,878,149.53 Overcollaterized Deficiency Amount 9,032,521.33 Specified Overcollateralization Amount 11,681,654.35

~~Miscellaneous~~Group ~~Reporting~~Level ~~Base~~Collateral ~~Overcollateralization~~Statement ~~Amount~~Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.836746 6.913161 7.361038 Weighted Average Net Rate 7.331304 6.436014 6.870170 Weighted Average Maturity 260 293 278 Beginning Loan Count 2,~~131~~235 1,~~330~~456 3,691 Loans Paid In Full 37 48 85 Ending Loan Count 2,198 1,408 3,606 Beginning Scheduled Balance 189,851,430.7820 ~~Excess~~201,648,767.00 ~~Cash~~391,500,197.20 ~~Amount~~Ending ~~483~~scheduled Balance 186,~~389~~162,047.2895 ~~Extra~~191,460,346.92 377,622,394.87 Record Date 10/30/2004 10/30/2004 10/30/2004 Principal ~~Distribution~~And ~~Amount~~Interest ~~241~~Constant 1,~~694~~584,971.6405 ~~Overcollateralized~~1,484,015.46 ~~Amount~~3,068,986.51 2Scheduled Principal 345,~~373~~123.25 322,~~025~~323.4247 ~~Overcollaterized~~667,446.72 ~~Deficiency~~Unscheduled ~~Amount~~Principal 3,344,259.00 9,~~550~~866,~~223~~096.5761 ~~Specified~~13,210,355.61 ~~Overcollateralization~~Scheduled Interest 1,239,847.80 1,161,691.99 2,401,539.79 Servicing Fees 79,965.61 80,179.97 160,145.58 Master Servicing Fees 2,373.14 2,520.61 4,893.75 Trustee Fee 791.05 840.20 1,631.25 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 395.52 420.10 815.62 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 1,156,322.48 1,077,731.11 2,~~681~~234,~~654~~053.3559 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-Through Rate 7.308804 6.413514 6.847670

Group Level Collateral Statement Group Group 1 Group 2 Total Collateral Description Fixed 15/30 & ARM Mixed ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.839438 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-Through Rate 7.315914 6.398914 6.830980

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