~~Table~~SECURITIES ofAND ~~Contents~~EXCHANGE COMMISSION

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

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

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

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

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

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

(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.)

Delaware	333-105220	41-2094366
1840 Gateway Drive
State or other jurisdiction of incorporation or organization	(Commission File No.)	(I.R.S. Employer Identification No.)
San Mateo, California	94404
Address of principal executive offices	Zip Code

1840 Gateway Drive San Mateo, California		94404
Address of principal executive offices		Zip Code

Registrant’s telephone number, including area code: (650) 312-6857

~~Registrant’s~~(Former ~~telephone~~name, ~~number~~former address, ~~including~~and ~~area~~former ~~code:~~fiscal ~~(650~~year, if changed since last report) ~~312-6857~~

~~(Former~~Item 9.01 ~~name,~~Financial ~~former~~Statements ~~address,~~ and ~~former fiscal year, if changed since last report)~~Exhibits

~~TABLE OF CONTENTS~~(c) Exhibit

~~Item 9~~Exhibit 99.011 ~~Financial~~Monthly ~~Statements~~Servicing ~~and~~Report ~~Exhibits~~for ~~Signatures~~the ~~EXHIBIT~~Collection ~~99.1~~Period ending January 31, 2005

~~Table of Contents~~Signatures

~~Item 9.01~~ Pursuant ~~Financial~~to ~~Statements~~the ~~and~~requirements ~~Exhibits~~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.


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

Dated: February 25, 2005		By:	/s/ Lisa Staab

			Lisa Staab VP, Controller

Exhibit 99.1 Monthly Servicing Report for the Collection Period ending December 31, 2004

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: January 25, 2005		By:	/s/ Lisa Staab
			Lisa Staab VP, Controller

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