8-K 1 bay0400c_dec.txt DECEMBER 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): December 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 December 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 December 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: 1/5/2005 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 December 28, 2004 distribution. EX-99.1

Bayview Financial Acquisition Trust Mortgage Pass-Through Certificates Record Date: 1011/30/2004 Distribution Date: 1112/2928/2004 ~~BAY~~Bayview Financial Acquisition Trust Mortgage Pass-Through Certificates 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 ~~641~~609,~~538~~128.6010 0.00 A-1 073247BJ6 SEN 2.~~37875~~60063% ~~283~~271,~~337~~507,~~094~~413.0601 ~~599~~568,~~100~~794.5498 119,~~829~~387,~~681~~088.0580 A-2A 073247BK3 SEN 2.~~30875~~53063% 3836,~~180~~586,~~079~~012.0963 7874,~~354~~582.0189 1,~~594~~264,~~066~~923.4666 A-2B 073247BV9 SEN 2.~~54275~~76463% 1615,~~362~~679,~~891~~719.0470 3634,~~983~~919.7772 ~~683~~542,~~171~~110.3414 M-1 073247BL1 MEZ 2.~~60875~~83063% 19,115,000.00 4443,~~325~~586.5659 0.00 M-2 073247BM9 MEZ 2.~~70875~~93063% 6,371,000.00 15,~~339~~040.9556 0.00 M-3 073247BN7 MEZ 3.~~25875~~48063% 10,619,000.00 3029,~~759~~773.7099 0.00 M-4 073247BP2 MEZ 3.~~50875~~73063% 4,247,000.00 1312,~~245~~763.9221 0.00 B 073247BQ0 JUN 6.~~20875~~43063% 10,619,000.00 5855,~~605~~008.0886 0.00 X 073247BR8 SEN 0.00000% 0.00 ~~229~~256,~~116~~318.5204 0.00 F 073247BS6 SEN 1.~~54125~~31937% 0.00 ~~260~~197,~~096~~857.4683 0.00 P 073247BT4 SEN 0.00000% 100.00 320,~~888~~066.3673 0.00 R 073247BU1 RES 0.00000% 0.00 0.00 0.00 Totals ~~388~~374,~~851~~744,~~164~~245.1934 21,~~011~~917,~~354~~841.4750 1411,~~106~~194,~~918~~122.8560

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-IO 0.00 0.00 ~~641~~609,~~538~~128.6010 0.00 A-1 0.00 ~~271~~262,~~507~~120,~~413~~324.0121 129,~~428~~955,~~781~~883.5978 0.00 A-2A 0.00 3635,~~586~~321,~~012~~088.6397 1,~~672~~339,~~420~~506.4755 0.00 A-2B 0.00 15,~~679~~137,~~719~~609.7056 ~~720~~577,~~155~~029.1186 0.00 M-1 0.00 19,115,000.00 4443,~~325~~586.5659 0.00 M-2 0.00 6,371,000.00 15,~~339~~040.9556 0.00 M-3 0.00 10,619,000.00 3029,~~759~~773.7099 0.00 M-4 0.00 4,247,000.00 1312,~~245~~763.9221 0.00 B 0.00 10,619,000.00 5855,~~605~~008.0886 0.00 X 0.00 0.00 ~~229~~256,~~116~~318.5204 0.00 F 0.00 0.00 ~~260~~197,~~096~~857.4683 0.00 P 0.00 100.00 320,~~888~~066.3673 0.00 R 0.00 0.00 0.00 0.00 Totals 0.00 ~~374~~363,~~744~~550,~~245~~122.3474 1613,~~118~~111,~~273~~964.3210 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 ~~283~~271,~~337~~507,~~094~~413.0601 ~~559~~547,~~702~~273.7952 118,~~269~~839,~~978~~815.2628 0.00 0.00 A-2A 42,000,000.00 3836,~~180~~586,~~079~~012.0963 7573,~~420~~745.7589 1,~~518~~191,~~645~~177.7177 0.00 0.00 A-2B 18,000,000.00 1615,~~362~~679,~~891~~719.0470 3231,~~323~~605.1838 ~~650~~510,~~848~~504.1676 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 ~~388~~374,~~851~~744,~~164~~245.1934 ~~667~~652,~~446~~624.7279 1310,~~439~~541,~~472~~497.1381 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-1 119,~~829~~387,~~681~~088.0580 ~~271~~262,~~507~~120,~~413~~324.0121 0.~~87109554~~84097831 119,~~829~~387,~~681~~088.0580 A-2A 1,~~594~~264,~~066~~923.4666 3635,~~586~~321,~~012~~088.6397 0.~~87109554~~84097831 1,~~594~~264,~~066~~923.4666 A-2B ~~683~~542,~~171~~110.3414 15,~~679~~137,~~719~~609.7056 0.~~87109554~~84097831 ~~683~~542,~~171~~110.3414 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 1411,~~106~~194,~~918~~122.8560 ~~374~~363,~~744~~550,~~245~~122.3474 0.~~88664104~~86015586 1411,~~106~~194,~~918~~122.8560

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 ~~909~~871.~~04950209~~09553880 1.~~79573220~~75585453 3628.~~15823110~~36137536 0.00000000 A-2A 42,000,000.00 ~~909~~871.~~04950214~~09553881 1.~~79573214~~75585452 3628.~~15823119~~36137548 0.00000000 A-2B 18,000,000.00 ~~909~~871.~~04950222~~09553889 1.~~79573222~~75585444 3628.~~15823111~~36137556 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 3730.~~95396330~~11722990 ~~871~~840.~~09553880~~97830890 0.~~87109554~~84097831 3730.~~95396330~~11722990 A-2A 0.00000000 3730.~~95396333~~11723000 ~~871~~840.~~09553881~~97830881 0.~~87109554~~84097831 3730.~~95396333~~11723000 A-2B 0.00000000 3730.~~95396333~~11723000 ~~871~~840.~~09553889~~97830889 0.~~87109554~~84097831 3730.~~95396333~~11723000 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% ~~219~~208,~~956~~843,~~090~~921.00 ~~641~~609,~~538~~128.6010 0.00 0.00 A-1 311,685,000.00 2.~~37875~~60063% ~~283~~271,~~337~~507,~~094~~413.0601 ~~599~~568,~~100~~794.5498 0.00 0.00 A-2A 42,000,000.00 2.~~30875~~53063% 3836,~~180~~586,~~079~~012.0963 7874,~~354~~582.0189 0.00 0.00 A-2B 18,000,000.00 2.~~54275~~76463% 1615,~~362~~679,~~891~~719.0470 3634,~~983~~919.7772 0.00 0.00 M-1 19,115,000.00 2.~~60875~~83063% 19,115,000.00 4443,~~325~~586.5659 0.00 0.00 M-2 6,371,000.00 2.~~70875~~93063% 6,371,000.00 15,~~339~~040.9556 0.00 0.00 M-3 10,619,000.00 3.~~25875~~48063% 10,619,000.00 3029,~~759~~773.7099 0.00 0.00 M-4 4,247,000.00 3.~~50875~~73063% 4,247,000.00 1312,~~245~~763.9221 0.00 0.00 B 10,619,000.00 6.~~20875~~43063% 10,619,000.00 5855,~~605~~008.0886 0.00 0.00 X 0.00 0.00000% 0.00 0.00 0.00 0.00 F 0.00 1.~~54125~~31937% ~~189~~186,~~851~~162,~~430~~047.2095 ~~260~~197,~~096~~857.4683 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,~~778~~641,~~349~~456.5973 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 ~~641~~609,~~538~~128.6010 0.00 ~~208~~198,~~843~~291,~~921~~896.00 A-1 0.00 0.00 ~~599~~568,~~100~~794.5498 0.00 ~~271~~262,~~507~~120,~~413~~324.0121 A-2A 0.00 0.00 7874,~~354~~582.0189 0.00 3635,~~586~~321,~~012~~088.6397 A-2B 0.00 0.00 3634,~~983~~919.7772 0.00 15,~~679~~137,~~719~~609.7056 M-1 0.00 0.00 4443,~~325~~586.5659 0.00 19,115,000.00 M-2 0.00 0.00 15,~~339~~040.9556 0.00 6,371,000.00 M-3 0.00 0.00 3029,~~759~~773.7099 0.00 10,619,000.00 M-4 0.00 0.00 1312,~~245~~763.9221 0.00 4,247,000.00 B 0.00 0.00 5855,~~605~~008.0886 0.00 10,619,000.00 X 0.00 0.00 ~~229~~256,~~116~~318.5204 0.00 0.00 F 0.00 0.00 ~~260~~197,~~096~~857.4683 0.00 ~~186~~181,~~162~~578,~~047~~542.9557 P 0.00 0.00 320,~~888~~066.3673 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 21,~~011~~917,~~354~~841.4750 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% ~~901~~855.~~53565368~~99012438 2.~~62947901~~49663785 0.00000000 0.00000000 A-1 311,685,000.00 2.~~37875~~60063% ~~909~~871.~~04950209~~09553880 1.~~92213466~~82490328 0.00000000 0.00000000 A-2A 42,000,000.00 2.~~30875~~53063% ~~909~~871.~~04950214~~09553881 1.~~86557167~~77578310 0.00000000 0.00000000 A-2B 18,000,000.00 2.~~54275~~76463% ~~909~~871.~~04950222~~09553889 21.~~05465389~~93998444 0.00000000 0.00000000 M-1 19,115,000.00 2.~~60875~~83063% 1000.00000000 2.~~31888883~~28022966 0.00000000 0.00000000 M-2 6,371,000.00 2.~~70875~~93063% 1000.00000000 2.~~40777743~~36078481 0.00000000 0.00000000 M-3 10,619,000.00 3.~~25875~~48063% 1000.00000000 2.~~89666635~~80384123 0.00000000 0.00000000 M-4 4,247,000.00 3.~~50875~~73063% 1000.00000000 3.~~11888863~~00522957 0.00000000 0.00000000 B 10,619,000.00 6.~~20875~~43063% 1000.00000000 5.~~51888878~~18022978 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00 1.~~54125~~31937% ~~947~~929.~~50798536~~09506564 10.~~29808594~~98746622 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.~~62947901~~49663785 0.00000000 ~~855~~812.~~99012438~~74046143 A-1 0.00000000 0.00000000 1.~~92213466~~82490328 0.00000000 ~~871~~840.~~09553880~~97830890 A-2A 0.00000000 0.00000000 1.~~86557167~~77578310 0.00000000 ~~871~~840.~~09553881~~97830881 A-2B 0.00000000 0.00000000 21.~~05465389~~93998444 0.00000000 ~~871~~840.~~09553889~~97830889 M-1 0.00000000 0.00000000 2.~~31888883~~28022966 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 2.~~40777743~~36078481 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 2.~~89666635~~80384123 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~11888863~~00522957 0.00000000 1000.00000000 B 0.00000000 0.00000000 5.~~51888878~~18022978 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 F 0.00000000 0.00000000 10.~~29808594~~98746622 0.00000000 ~~929~~906.~~09506564~~21976813 P 0.00000000 0.00000000 ~~38883~~200667.~~60000000~~30000000 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 1613,~~257~~242,~~247~~758.5220 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) ~~146~~159,~~907~~418.5620 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0(1,477.0094) Prepayment Penalties 320,~~888~~066.3673 Total Deposits 1613,~~408~~420,~~043~~765.4419 Withdrawals Reimbursement for Servicer Advances ~~122~~146,~~283~~907.9256 Payment of Service Fee ~~167~~161,~~486~~893.2053 Payment of Interest and Principal 1613,~~118~~111,~~273~~964.3210 Total Withdrawals (Pool Distribution Amount) 1613,~~408~~420,~~043~~765.4419 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~160~~154,~~145~~813.5811 Custodian Fee ~~815~~786.6271 Master Servicing Fee 4,~~893~~720.7528 Trustee Fee 1,~~631~~573.2543 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~167~~161,~~486~~893.2053

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 0.00 0.00 ~~1,000~~0.00

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 4042 0 0 4042 3,~~676~~824,~~453~~976.9373 0.00 0.00 3,~~676~~824,~~453~~976.9373 30 Days ~~131~~133 67 0 0 ~~137~~140 1210,~~820~~854,~~760~~747.7758 ~~433~~1,~~127~~064,276.9984 0.00 0.00 1311,~~253~~919,~~888~~024.7642 60 Days 4440 24 0 0 4644 3,~~478~~753,~~230~~730.7750 ~~164~~372,~~534~~877.8549 0.00 0.00 34,~~642~~126,~~765~~607.6299 90 Days 212 20 817 0 1229 571,~~088~~075,997.7481 ~~296,599~~0.9800 ~~409~~1,~~280~~140,286.2754 0.00 ~~762~~2,~~968~~216,284.9935 120 Days 21 0 1 37 60 ~~209~~9 26,~~097~~171.9738 0242,348.0018 ~~109~~389,~~938~~821.3337 ~~233,613~~0.1700 ~~552~~658,~~649~~340.4793 150 Days 02 0 0 03 05 0209,097.0097 0.00 0.00 0233,613.0017 0442,711.0014 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~179~~188 5054 924 3 ~~241~~269 1615,~~565~~919,~~178~~745.2524 45,~~570~~504,~~716~~479.7524 ~~519~~1,~~218~~530,107.6091 233,613.17 2123,~~888~~187,~~726~~945.7756 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.~~109262~~189802% 0.000000% 0.000000% 1.~~109262~~189802% 01.~~971997~~041452% 0.000000% 0.000000% 01.~~971997~~041452% 30 Days 3.~~632834~~767705% 0.~~166389~~198300% 0.000000% 0.000000% 3.~~799224~~966006% 32.~~389610~~955495% 0.~~114512~~289778% 0.000000% 0.000000% 3.~~504122~~245272% 60 Days 1.~~220189~~133144% 0.~~055463~~113314% 0.000000% 0.000000% 1.~~275652~~246459% 01.~~919590~~022053% 0.~~043500~~101526% 0.000000% 0.000000% 01.~~963091~~123579% 90 Days 0.~~055463~~339943% 0.~~055463~~000000% 0.~~221852~~481586% 0.000000% 0.~~332779~~821530% 0.~~015093~~292969% 0.~~078416~~000000% 0.~~108207~~310473% 0.000000% 0.~~201717~~603443% 120 Days 0.~~055463~~028329% 0.~~000000~~028329% 0.~~027732~~198300% 0.~~083195~~000000% 0.~~166389~~254958% 0.~~055282~~007126% 0.~~000000~~065986% 0.~~029066~~106139% 0.~~061764~~000000% 0.~~146112~~179251% 150 Days 0.~~000000~~056657% 0.000000% 0.000000% 0.~~000000~~084986% 0.~~000000~~141643% 0.~~000000~~056932% 0.000000% 0.000000% 0.~~000000~~063607% 0.~~000000~~120540% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 45.~~963949~~325779% 1.~~386578~~529745% 0.~~249584~~679887% 0.~~083195~~084986% 67.~~683306~~620397% 4.~~379576~~334575% 1.~~208426~~498741% 0.~~137273~~416613% 0.~~061764~~063607% 56.~~787039~~313537%

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 2526 0 0 2526 1,~~277~~326,~~279~~140.0579 0.00 0.00 1,~~277~~326,~~279~~140.0579 30 Days 9587 23 0 0 9790 74,~~434~~685,~~676~~022.53 94125,~~701~~088.6511 0.00 0.00 74,~~529~~810,~~378~~110.1864 60 Days 32 1 0 0 33 2,~~049~~552,~~935~~622.8986 59,~~604~~577.5062 0.00 0.00 2,~~109~~612,~~540~~200.3948 90 Days 211 10 612 0 923 57900,~~088~~793.7488 ~~242,348~~0.1800 ~~266~~532,~~288~~518.5411 0.00 ~~565~~1,~~725~~433,311.4699 120 Days 21 01 5 0 37 526,171.38 ~~209~~242,~~097~~348.9718 0246,829.0064 0.00 ~~233~~515,~~613~~349.1720 ~~442,711.14~~ 150 Days 02 0 0 03 05 0209,097.0097 0.00 0.00 0233,613.0017 0442,711.0014 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~131~~133 2931 617 3 ~~169~~184 98,~~750~~373,~~799~~708.1362 1,~~673~~753,~~933~~154.3870 ~~266~~779,~~288~~347.5475 233,613.17 11,~~924~~139,~~634~~824.2224 0-29 Days 1.~~137398~~205378% 0.000000% 0.000000% 1.~~137398~~205378% 0.~~684966~~729177% 0.000000% 0.000000% 0.~~684966~~729177% 30 Days 4.~~322111~~033380% 0.~~090992~~139082% 0.000000% 0.000000% 4.~~413103~~172462% 32.~~986990~~576053% 0.~~050786~~068780% 0.000000% 0.000000% 42.~~037775~~644833% 60 Days 1.~~455869~~483542% 0.~~045496~~046361% 0.000000% 0.000000% 1.~~501365~~529903% 1.~~099318~~403556% 0.~~031964~~032759% 0.000000% 0.000000% 1.~~131282~~436315% 90 Days 0.~~090992~~509968% 0.~~045496~~000000% 0.~~272975~~556328% 0.000000% 01.~~409463~~066296% 0.~~030615~~495300% 0.~~129964~~000000% 0.~~142802~~292804% 0.000000% 0.~~303381~~788105% 120 Days 0.~~090992~~046361% 0.~~000000~~046361% 0.~~000000~~231803% 0.~~136488~~000000% 0.~~227480~~324525% 0.~~112133~~014390% 0.~~000000~~133255% 0.~~000000~~135719% 0.~~125280~~000000% 0.~~237412~~283364% 150 Days 0.~~000000~~092721% 0.000000% 0.000000% 0.~~000000~~139082% 0.~~000000~~231803% 0.~~000000~~114972% 0.000000% 0.000000% 0.~~000000~~128452% 0.~~000000~~243424% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 56.~~959964~~165971% 1.~~319381~~437181% 0.~~272975~~788132% 0.~~136488~~139082% 78.~~688808~~530366% 54.~~229056~~604272% 0.~~897679~~963970% 0.~~142802~~428523% 0.~~125280~~128452% 6.~~394817~~125217% 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 1516 0 0 1516 2,~~399~~498,~~174~~835.8894 0.00 0.00 2,~~399~~498,~~174~~835.8894 30 Days 3646 4 0 0 4050 56,~~386~~169,~~084~~725.2405 ~~338~~939,~~426~~188.3473 0.00 0.00 57,~~724~~108,~~510~~913.5878 60 Days 128 13 0 0 1311 1,~~428~~201,~~294~~107.8864 ~~104~~313,~~930~~299.3587 0.00 0.00 1,~~533~~514,~~225~~407.2351 90 Days 0 1 20 5 0 36 175,203.93 0.00 54607,~~251~~768.8043 ~~142,991.73~~ 0.00 ~~197~~782,~~243~~972.5336 120 Days 0 0 12 0 12 0.00 0.00 ~~109~~142,~~938~~991.3373 0.00 ~~109~~142,~~938~~991.3373 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 4855 2123 37 0 7285 67,~~814~~546,~~379~~036.1262 23,~~896~~751,~~783~~324.3754 ~~252~~750,~~930~~760.0616 0.00 912,~~964~~048,~~092~~121.5532 0-29 Days 1.~~065341~~165331% 0.000000% 0.000000% 1.~~065341~~165331% 1.~~251110~~347770% 0.000000% 0.000000% 1.~~251110~~347770% 30 Days 23.~~556818~~350328% 0.~~284091~~291333% 0.000000% 0.000000% 23.~~840909~~641661% 23.~~808710~~327697% 0.~~176481~~506560% 0.000000% 0.000000% 23.~~985191~~834257% 60 Days 0.~~852273~~582666% 0.~~071023~~218500% 0.000000% 0.000000% 0.~~923295~~801165% 0.~~744821~~647828% 0.~~054719~~168981% 0.000000% 0.000000% 0.~~799539~~816809% 90 Days 0.~~000000~~072833% 0.~~071023~~000000% 0.~~142045~~364166% 0.000000% 0.~~213068~~436999% 0.~~000000~~094498% 0.~~028291~~000000% 0.~~074567~~327805% 0.000000% 0.~~102858~~422303% 120 Days 0.000000% 0.000000% 0.~~071023~~145666% 0.000000% 0.~~071023~~145666% 0.000000% 0.000000% 0.~~057330~~077124% 0.000000% 0.~~057330~~077124% 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 34.~~409091~~005827% 1.~~491477~~675164% 0.~~213068~~509832% 0.000000% 56.~~113636~~190823% 34.~~553531~~070024% 12.~~510601~~023311% 0.~~131897~~404929% 0.000000% 56.~~196028~~498264%

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance ~~146~~159,~~907~~418.5620 Class F 50,971,100.00 11.99928152% 50,971,100.00 13.~~49790179~~90047358% 0.000000% 0.000000% Class M-1 31,856,100.00 7.49935379% 31,856,100.00 8.~~43596684~~68756759% 5.~~061935~~212906% 0.000000% Class M-2 25,485,100.00 5.99953482% 25,485,100.00 6.~~74883173~~95011407% 1.~~687135~~737454% 0.000000% Class M-3 14,866,100.00 3.49967960% 14,866,100.00 34.~~93676334~~05417639% 2.~~812068~~895938% 0.000000% Class M-4 10,619,100.00 2.49987876% 10,619,100.00 2.~~81209487~~89596495% 1.~~124668~~158211% 0.000000% Class B 100.00 0.00002354% 100.00 0.~~00002648~~00002727% 2.~~812068~~895938% 0.000000% Class P 0.00 0.00000000% 0.00 0.00000000% 0.~~000026~~000027% 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

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~361038~~366114% Weighted Average Net Coupon 6.~~870170~~874153% Weighted Average Pass-Through Rate 6.~~847670~~851653% Weighted Average Maturity (Stepdown Calculation ) ~~278~~277 Beginning Scheduled Collateral Loan Count 3,~~691~~606 Number Of Loans Paid In Full 8576 Ending Scheduled Collateral Loan Count 3,~~606~~530 Beginning Scheduled Collateral Balance ~~391~~377,~~500~~622,~~197~~394.2087 Ending Scheduled Collateral Balance ~~377~~366,~~622~~686,~~394~~068.8707 Ending Actual Collateral Balance at 30-~~Oct~~Nov-2004 ~~378~~367,~~237~~273,~~054~~475.6396 Monthly P &I Constant 32,~~068~~970,~~986~~507.5180 Special Servicing Fee 0.00 Prepayment Penalties 320,~~888~~066.3673 Realized Loss Amount 01,477.0094 Cumulative Realized Loss 01,477.0094 Scheduled Principal ~~667~~652,~~446~~499.7266 Unscheduled Principal 1310,~~210~~283,~~355~~827.6114

Other Income ~~6,031~~933.0888 Non Supp Compensating Interes ~~(3,501~~0.~~83)~~00

Miscellaneous Reporting Base Overcollateralization Amount 2,123,937.15 Excess Cash Amount ~~458~~606,~~233~~617.0343 Extra Principal Distribution Amount ~~229~~304,~~116~~786.5266 Overcollateralized Amount 23,~~878~~135,~~149~~945.5333 Overcollaterized Deficiency Amount 98,~~032~~804,~~521~~882.3375 Specified Overcollateralization Amount 11,681,654.35

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.~~836746~~833353 6.~~913161~~911806 7.~~361038~~366114 Weighted Average Net Rate 7.~~331304~~327184 6.~~436014~~433659 6.~~870170~~874153 Weighted Average Maturity ~~260~~259 ~~293~~292 ~~278~~277 Beginning Loan Count 2,~~235~~198 1,~~456~~408 3,~~691~~606 Loans Paid In Full 3741 4835 8576 Ending Loan Count 2,~~198~~157 1,~~408~~373 3,~~606~~530 Beginning Scheduled Balance ~~189~~186,~~851~~162,~~430~~047.2095 ~~201~~191,~~648~~460,~~767~~346.0092 ~~391~~377,~~500~~622,~~197~~394.2087 Ending scheduled Balance ~~186~~181,~~162~~578,~~047~~542.9557 ~~191~~185,~~460~~107,~~346~~525.9250 ~~377~~366,~~622~~686,~~394~~068.8707 Record Date 1011/30/2004 1011/30/2004 1011/30/2004 Principal And Interest Constant 1,~~584~~554,~~971~~441.0522 1,~~484~~416,~~015~~066.4658 32,~~068~~970,~~986~~507.5180 Scheduled Principal ~~345~~339,~~123~~213.2573 ~~322~~313,~~323~~285.4793 ~~667~~652,~~446~~499.7266 Unscheduled Principal 34,~~344~~244,~~259~~291.0065 96,~~866~~039,~~096~~535.6149 1310,~~210~~283,~~355~~827.6114 Scheduled Interest 1,~~239~~215,~~847~~227.8049 1,~~161~~102,~~691~~780.9965 2,~~401~~318,~~539~~008.7914 Servicing Fees 7978,~~965~~524.6175 8076,~~179~~288.9736 ~~160~~154,~~145~~813.5811 Master Servicing Fees 2,~~373~~327.1403 2,~~520~~393.6125 4,~~893~~720.7528 Trustee Fee ~~791~~775.0568 ~~840~~797.2075 1,~~631~~573.2543 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~395~~387.5284 ~~420~~398.1087 ~~815~~786.6271 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~~133,~~322~~212.4819 1,~~077~~022,~~731~~902.1142 2,~~234~~156,~~053~~114.5961 Realized Loss Amount 01,477.0094 0.00 01,477.0094 Cumulative Realized Loss 01,477.0094 0.00 01,477.0094 Percentage of Cumulative Losses 0.~~0000~~0007 0.0000 0.~~0000~~0003 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~308804~~304644 6.~~413514~~411159 6.~~847670~~851653

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