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

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

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

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

~~Current~~Date of Report ~~Pursuant~~ ~~to Section 13 or 15~~(d)Date of ~~the~~ ~~Securities~~Earliest ~~Exchange~~event ~~Act~~reported): ofJune 25, ~~1934~~2005

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

~~BAY~~(Exact ~~VIEW~~name ~~TRANSACTION~~of ~~CORPORATION~~ 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.)
State or other jurisdiction ofincorporation or organization	(Commission File No.)	(I.R.S. Employer Identification No.)

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

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

~~Check~~(Former ~~the~~name, ~~appropriate~~former ~~box~~address, ~~below~~and ifformer ~~the~~fiscal ~~Form~~year, ~~8-K~~if ~~filing~~changed issince ~~intended~~last ~~to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below~~report):

oCheck ~~Written communications pursuant to Rule 425 under~~ the ~~Securities~~appropriate ~~Act~~box ~~(17~~below ~~CFR~~if ~~230.425) o Soliciting material pursuant to Rule 14a-12 under~~ the ~~Exchange~~Form ~~Act (17 CFR 240.14a~~8-~~12)~~K ofiling ~~Pre-commencement~~is ~~communications~~intended ~~pursuant~~ to ~~Rule~~simultaneously satisfy ~~14d-2(b) under~~ the ~~Exchange~~filing ~~Act~~obligation ~~(17~~of ~~CFR~~the ~~240.14d-2(b))~~registrant ounder ~~Pre-commencement~~any ~~communications~~of ~~pursuant to Rule 13e-4(c) under~~ the ~~Exchange~~following ~~Act (17 CFR 240.13e-4(c))~~provisions:

~~TABLE~~o OFWritten ~~CONTENTS~~communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

Item 9.01 Financial Statements and Exhibits ~~Signatures EXHIBIT 99.1~~

~~Table of Contents~~ (c) Exhibit

~~Item~~Exhibit 999.011 ~~Financial~~Monthly ~~Statements~~Servicing ~~and~~Report ~~Exhibits~~for the Collection Period ending May 31, 2005

~~(c) Exhibit~~Signatures

~~Exhibit 99.1~~ Pursuant ~~Monthly~~to ~~Servicing~~the ~~Report~~requirements ~~for~~of the ~~Collection~~Securities ~~Period~~Exchange ~~ending~~Act ~~April 30~~of 1934, ~~2005~~the registrant has caused this report to be signed on behalf of Bay View Transaction Corporation by the undersigned thereunto duly authorized.

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

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

Dated: June 25, 2005

/s/ Lisa Staab

Lisa Staab
VP, Controller

Filing Compare · BAY VIEW TRANSACTION CORP