8-K 1 bv0501_8k0502.txt 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): February 22, 2005 BVMBS (Depositor) (Issuer in respect of Mortgage Pass-Through Certificates, Series 2005-1) (Exact name of registrant as specified in charter) Delaware 33-63714 95-4449516 (State or other (Commission File No.) (I.R.S. Employer jurisdiction of Identification No.) organization) , , N/A 91110-7137 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (818)-304-4428 Not Applicable (Former name, former address and former fiscal year, 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. []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)) Section 8 - Other Events Item 8.01 Other Events Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits SIGNATURES 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 thereunto duly authorized. Dated: February 22, 2005 BVMBS By: /s/ AnnMarie Cassano ------------------------------ Name: AnnMarie Cassano Assistant Treasurer The Bank of New York, as Trustee EXHIBIT INDEX Exhibit 99 Monthly Remittance Statement dated February 22, 2005 Payment Date: 02/22/05 ------------------------------------------------------------ BELLA VISTA MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------

~~UNITED~~Class ~~STATES~~Information Current Payment Information ---------------------------------------------------------------------------------------------------------------------------------- Beginning Pass Thru Principal Interest Total Principal Interest Type Class Code Name Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfalls ---------------------------------------------------------------------------------------------------------------------------------- Senior 1A1 164,994,000.00 2.858750% 203,825.92 327,553.19 531,379.11 0.00 0.00 1A2 110,000,000.00 2.918750% 135,888.88 222,960.07 358,848.95 0.00 0.00 2A 468,793,000.00 2.828750% 3,798,641.10 884,065.47 4,682,706.57 0.00 0.00 3A 36,867,000.00 5.014333% 3,152.39 154,052.86 157,205.24 0.00 0.00 4A 76,622,000.00 4.475000% 21,525.37 285,736.21 307,261.57 0.00 0.00 1AX 0.00 0.000000% 0.00 331,980.96 331,980.96 0.00 0.00 2AX 468,793,000.00 1.489496% 0.00 581,887.79 581,887.79 0.00 0.00 4AX 76,622,000.00 0.563601% 0.00 35,986.85 35,986.85 0.00 0.00 BX 0.00 0.000000% 0.00 54,553.62 54,553.62 0.00 0.00 Residual AR 100.00 3.896750% 100.00 0.33 100.33 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- Subordinate B1 19,150,000.00 3.058750% 8,614.00 39,050.04 47,664.04 0.00 0.00 B2 12,310,000.00 3.458750% 5,537.25 28,384.81 33,922.06 0.00 0.00 B3 9,119,000.00 3.758750% 4,101.88 22,850.69 26,952.58 0.00 0.00 B4 5,471,000.00 3.758750% 2,460.95 13,709.41 16,170.36 0.00 0.00 B5 5,471,000.00 3.758750% 2,460.95 13,709.41 16,170.36 0.00 0.00 B6 3,201,509.46 3.758750% 1,440.09 8,022.45 9,462.54 0.00 0.00 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Totals - - 911,998,609.46 - 4,187,748.78 3,004,504.16 7,192,252.94 - - ---------------------------------------------------------------------------------------------------------------------------------- Class Information -------------------------------------------------------------------------------- Ending Cert. Unpaid Type Class Code Name Notional Bal. Interest -------------------------------------------------------------------------------- Senior 1A1 164,790,174.08 0.00 1A2 109,864,111.12 0.00 2A 464,994,358.90 0.00 3A 36,863,847.61 0.00 4A 76,600,474.63 0.00 1AX 10,491.59 10,491.59 2AX 464,994,358.90 0.00 4AX 76,600,474.63 0.00 BX 669.71 669.71 Residual AR 0.00 0.00 -------------------------------------------------------------------------------- Subordinate B1 19,141,386.00 0.00 B2 12,304,462.75 0.00 B3 9,114,898.12 0.00 B4 5,468,539.05 0.00 B5 5,468,539.05 0.00 B6 3,200,069.37 0.00 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Totals - - 907,822,021.98 11,161.30 --------------------------------------------------------------------------------

Payment Date: 02/22/05 ------------------------------------------------------------ BELLA VISTA MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------

~~SECURITIES~~Class ~~AND~~Information ~~EXCHANGE~~Current ~~COMMISSION~~Payment Information Factors per $1,000 ------------------------------------------------------------------------------------------------------------------------ Beginning Pass Thru CUSIP Principal Interest Ending Cert./ Type Class Code Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal. ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Senior 1A1 164,994,000.00 2.858750% 07820QBL8 1.235353 1.985243 998.764647 1A2 110,000,000.00 2.918750% 07820QBM6 1.235353 2.026910 998.764647 2A 468,793,000.00 2.828750% 07820QBN4 8.103024 1.885833 991.896976 3A 36,867,000.00 5.014333% 07820QBP9 0.085507 4.178611 999.914493 4A 76,622,000.00 4.475000% 07820QBQ7 0.280929 3.729167 999.719071 1AX 0.00 0.000000% 07820QBR5 0.000000 0.000000 0.000000 2AX 468,793,000.00 1.489496% 07820QBS3 0.000000 1.241247 991.896976 4AX 76,622,000.00 0.563601% 07820QBT1 0.000000 0.469667 999.719071 BX 0.00 0.000000% 07820QBU8 0.000000 0.000000 0.000000 Residual AR 100.00 3.896750% 07820QCB9 1,000.000000 3.289138 0.000000 ------------------------------------------------------------------------------------------------------------------------ Subordinate B1 19,150,000.00 3.058750% 07820QBV6 0.449817 2.039167 999.550183 B2 12,310,000.00 3.458750% 07820QBW4 0.449817 2.305833 999.550183 B3 9,119,000.00 3.758750% 07820QBX2 0.449817 2.505833 999.550183 B4 5,471,000.00 3.758750% 07820QBY0 0.449817 2.505833 999.550183 B5 5,471,000.00 3.758750% 07820QBZ7 0.449817 2.505833 999.550183 B6 3,201,509.46 3.758750% 07820QCA1 0.449817 2.505833 999.550183 ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------ Totals - - 911,998,609.46 - - - - - ------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------

------------------------------------------------------------ BELLA VISTA MORTGAGE TRUST Mortgage Pass-Through Certificates, Series 2005-1 ------------------------------------------------------------ -------------------------------------------------------------------------------- COLLATERAL INFORMATION -------------------------------------------------------------------------------- Prin balance 292,197,478.09 494,916,104.07 39,217,513.78 Loan count 565 1448 179 Avg loan rate 4.280750% 4.156835% 5.273333% Prepay amount 69,067.79 3,777,521.92 0.01 Total ----- Prin balance 81,490,926.04 907,822,021.98 Loan count 250 2442 Avg loan rate 5.297601% 4.35 Prepay amount 0.05 3,846,589.77 -------------------------------------------------------------------------------- FEES AND ADVANCES -------------------------------------------------------------------------------- Master serv fees 91,421.19 156,446.57 8,171.01 Sub servicer fees 0.00 6.49 0.00 Trustee fees 2,194.11 3,740.37 294.16 Agg advances N/A N/A N/A Adv this period 0.00 12,438.52 0.00 Total ----- Master serv fees 16,982.05 273,020.82 Sub servicer fees 0.00 6.49 Trustee fees 611.35 6,839.99 Agg advances N/A N/A Adv this period 0.00 12,438.52 -------------------------------------------------------------------------------- LOSSES & INSURANCE COVERAGES -------------------------------------------------------------------------------- Realized losses 0.00 0.00 0.00 Cumulative losses 0.00 0.00 0.00 Total ----- Realized losses 0.00 0.00 Cumulative losses 0.00 0.00 Coverage Amounts ---------------- Bankruptcy 0.00 0.00 0.00 Fraud 5,850,956.46 9,974,321.86 784,417.35 Special Hazard 0.00 0.00 0.00 Total ----- Bankruptcy 0.00 0.00 Fraud 1,630,276.51 18,239,972.19 Special Hazard 0.00 0.00 Aggregate Certificate Information ----------------------------------------------------------------------------- Class Aggregate Aggregate Aggregate Type Percentage Prepay Pct. End Cert. Bal. ----------------------------------------------------------------------------- Senior 94.002253% 100.000000% 857,276,100.00 ----------------------------------------------------------------------------- Junior 5.997747% 0.000000% 54,697,894.34 ----------------------------------------------------------------------------- -------------------------------------------------------------------------------- DELINQUENCY INFORMATION -------------------------------------------------------------------------------- Period Loan Count Ending Stated Balance ------ ---------- --------------------- 30 to 59 days 12 3,550,814.33 60 to 89 days 0 0.00 90 or more 0 0.00 Foreclosure 0 0.00 Totals: 12 3,550,814.33 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- REO INFORMATION -------------------------------------------------------------------------------- REO Date Loan Number Ending Stated Balance Book Value -------- ----------- --------------------- ---------- N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A N/A # 0 N/A Totals: 0 N/A Current Total Outstanding Balance: 0.00 Current Total Outstanding Number of Loans: 0 -------------------------------------------------------------------------------- OTHER INFORMATION -------------------------------------------------------------------------------- Amount/Withdrawal Total/Ending Bal. ----------------- ----------------- Available remittance amount 7,192,252.94 7,192,252.94 Principal remittance amount 4,187,748.78 4,187,748.78 Interest remittance amount 3,004,504.16 3,004,504.16

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) January 28, 2005

BellaVista Funding Corporation

as Depositor under a

Pooling and Servicing Agreement

dated as of January 1, 2005

providing for the creation of

BELLAVISTA MORTGAGE TRUST 2005-1

(Exact name of registrant as specified in its charter)

Delaware		333-117593-04		20-1372869
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1299 OCEAN AVENUE, SUITE 240

SANTA MONICA, CALIFORNIA 90401

(Address of principal executive offices and (Zip Code)

Registrant’s telephone number, including area code: (310) 255-4443

(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:

¨ 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))

SECTION 9 FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements

Not applicable

(b) Pro Forma Financial Information

Not applicable

99.1 Pooling and Servicing Agreement, dated as of January 1, 2005, among BellaVista Funding Corporation, Countrywide Home Loans Servicing LP, and The Bank of New York in connection with the BellaVista Mortgage Pass-Through Certificates, Series 2005-1.

SIGNATURES

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.

BellaVista Funding Corporation By: /s/ Russell Thompson Russell Thompson Chief Financial Officer (Authorized Officer)

Date: February 11, 2005

EXHIBIT INDEX

Exhibit 99.1 Pooling and Servicing Agreement, dated as of January 1, 2005, among BellaVista Funding Corporation, Countrywide Home Loans Servicing LP, and The Bank of New York in connection with the BellaVista Mortgage Pass-Through Certificates, Series 2005-1.

Filing Compare · BellaVista Mortgage Trust 2005-1