Bayview Pass-Thru Downgraded

Class B-3 of Bayview Financial series 2005-D mortgage pass-through certificates has been downgraded from BBB-minus to BB by Fitch Ratings and placed on Rating Watch Negative. In addition, class B-2 of series 2005-D and class B-3 of series 2005-C were placed on Rating Watch Negative, and class 1-A5 of series 2005-D and class 1-A5 of series 2005-B were removed from Rating Watch Negative. Fitch also affirmed the ratings on 36 classes in the three Bayview transactions. The negative rating actions were attributed to deterioration in the relationship between credit enhancement and expected losses. Fitch said the collateral consists of fully amortizing and balloon loans secured by senior liens on residential, commercial, multifamily, and mixed-use properties.