Fitch Affirms & Removes From Watch Negative 4 RMBS Classes From 2 Bayview Deals.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 22, 2003

Fitch Ratings has affirmed and removed from Rating Watch Negative four classes from the following Bayview Financial Acquisition Trust issues:

Series 2001-A:

-- Class M-4 'A-';

-- Class B 'BBB+'.

Series 2001-B:

-- Class M-4 'A-';

-- Class B 'BBB'.

Fitch had originally placed the aforementioned four classes on Rating Watch Negative yesterday, along with affirming eighteen other residential mortgage-backed securities (RMBS) classes from the deals listed above, as well as series 2001-D (see the release, 'Fitch Affirms 18 & Places 4 RMBS Classes on Watch Negative From 3 Bayview Issues', available on the Fitch Ratings web site at 'www.fitchratings.com').

Series 2001-A, class M-4 and B and series 2001-B, class M-4 and B were removed from Rating Watch Negative due to the termination of interest rate floor agreements in each of the respective transactions. Under the agreements, the Trust had been making floor payments to a counterparty since the decline in LIBOR in 2001. The termination of the agreements causes the transactions to retain additional excess spread which can be used to cover losses and build overcollateralization.

Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'.