OAKWOOD MORTGAGE INVESTORS INC OMI TRUST 1996-A
8-K, 1997-04-30
ASSET-BACKED SECURITIES
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<PAGE>

                       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) April 15, 1997.

                                OMI Trust 1996-A
               (Exact name of registrant as specified in charter)


        Pennsylvania                  33-99320               23-7841128
(State or other jurisdiction        (Commission            (IRS Employer
      of incorporation)              File Number)        Identification No.)

c/o PNC Bank, National Association
Corporate Trust Department
Attention:  Constantine Hromych
1700 Market Street
Philadelphia, Pennsylvania                                19103
(Address of principal executive offices)               (Zip Code)


        Registrant's telephone number, including area code (215) 585-8738

 -------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)



<PAGE>




                       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) April 15, 1997.

                                OMI Trust 1996-A
               (Exact name of registrant as specified in charter)


       Pennsylvania                 33-99320              23-7841128
(State or other jurisdiction       (Commission           (IRS Employer
    of incorporation)              File Number)        Identification No.)

c/o PNC Bank, National Association
Corporate Trust Department
Attention:  Constantine Hromych
1700 Market Street
Philadelphia, Pennsylvania                               19103
(Address of principal executive offices)               (Zip Code)


        Registrant's telephone number, including area code (215) 585-8738

 -------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)



<PAGE>



                                OMI Trust 1996-A

                                    Form 8-K


Item 1.  Changes in Control of Registrant.

                  Not Applicable.

Item 2.  Acquisition or Disposition of Assets.

                  Not Applicable.

Item 3.  Bankruptcy or Receivership.

                  Not Applicable.

Item 4.  Changes in Registrant's Certifying Accountant.

                  Not Applicable.

Item 5.  Other Events.

         OMI Trust 1996-A (the "Trust"), the issuer of the Oakwood Mortgage
Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through
Certificates, Series 1996- A (the "Certificates"), makes monthly distributions
to holders of the Certificates. The latest distribution was made on April 15,
1997. Oakwood Acceptance Corporation, as Servicer for the Trust, has prepared a
monthly Remittance Report and delivered it to the Trustee.

Remittance Report. . . . . . . . . . . . .Exhibit 20.1

Item 6.  Resignations of Registrant's Directors.

                  Not Applicable.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

                  Exhibits

                  20.1 Monthly Remittance Report relating to the Distribution
                  Date occurring on April 15, 1997.

Item 8.  Change in Fiscal Year.

                  Not Applicable.



<PAGE>




                                   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.

                                            OMI TRUST 1996-A, Registrant

                                            By:  Oakwood Acceptance Corporation,
                                                     as servicer


April 25, 1997

                                                     Douglas R. Muir
                                                     Vice President




<PAGE>




                                   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.

                                            OMI TRUST 1996-A, Registrant

                                            By:  Oakwood Acceptance Corporation,
                                                     as servicer


April 25, 1997                              /s/ DOUGLAS R. MUIR

                                                     Douglas R. Muir
                                                     Vice President











<PAGE>



                                INDEX OF EXHIBITS

<TABLE>
<CAPTION>

                                                                                               Page of Sequentially
                                                                                                   Numbered Pages

<S>       <C>                                                                                  <C> 
20.1     Monthly Remittance Report relating to Distribution
         Date occurring on April 15, 1997............................................................. 5-10
</TABLE>








<PAGE>


                                INDEX OF EXHIBITS

<TABLE>
<CAPTION>

                                                                                               Page of Sequentially
                                                                                                   Numbered Pages

<S>       <C>                                                                                  <C> 
20.1     Monthly Remittance Report relating to Distribution
         Date occurring on April 15, 1997.................................................................
</TABLE>



<PAGE>


OAKWOOD MORTGAGE INVESTORS, INC. 1996-A                REPORT DATE:APRIL 6, 1997
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   POOL REPORT # 14
REMITTANCE REPORT                                                    Page 1 of 6
REPORTING MONTH: MARCH 31, 1997

<TABLE>
<CAPTION>



                                           Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------------------------------------------------------

Beginning                                                                                                 Ending                
Principal                  Scheduled          Prepaid           Liquidated         Contracts              Principal             
Balance                    Principal          Principal         Principal          Repurchased            Balance               
- --------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>               <C>                <C>                    <C>                <C>                    
148,634,025.23            (369,042.48)      (416,233.28)       (633,356.29)           0.00               147,215,393.18         
================================================================================================================================

<CAPTION>
Scheduled                                   Scheduled                                                  Amount               
Gross                      Servicing        Pass Thru             Liquidation       Reserve            Available for        
Interest                      Fee           Interest              Proceeds          Fund Draw          Distribution         
- --------------------------------------------------------------------------------------------------------------------------  
<C>                      <C>                 <C>                 <C>                      <C>        <C>                    
1,368,112.11             123,861.69          1,244,250.42        438,156.81               0.00       2,591,544.68           
==========================================================================================================================  
</TABLE>


<TABLE>
<CAPTION>


                                            Reserve Fund as of Cutoff Date
- ------------------------------------------------------------------------------------------------------------
                                                                                                                                    
                                                                                                                                    
  Beginning                              Investment         Balance Before     Reserve      Reserve         Balance After           
   Balance       Deposits    Distrib.     Interest       Current Distribution  Fund Draw    Fund Deposit    Current Distribution    
- ------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>        <C>          <C>                  <C>               <C>           <C>               <C>                
  326,174.65      0.00      -1,174.65     1,314.79             326,314.79        0.00          0.00              326,314.79         
====================================================================================================================================

<CAPTION>
                                       Reserve Fund Required Balance           
                                       --------------------------------------  
                                       Before Current     After Current        
      Excess                           Distribution       Distribution         
- ---------------------                  --------------------------------------  
  <C>                                <C>                <C>                 
     1,314.79                           325,000.00         325,000.00          
=====================                  ======================================  
</TABLE>


<TABLE>
<CAPTION>


                                                      Certificate Account
- --------------------------------------------------------------------------------------------------------------------------------

        Beginning                        Deposits                                        Investment              Ending
         Balance               Principal          Interest        Distributions           Interest               Balance
- --------------------------------------------------------------------------------------------------------------------------------
<S>                          <C>               <C>               <C>                         <C>                 <C>       
       412,159.91            1,438,211.36      1,402,897.53      (2,684,322.95)              1,607.72            570,553.57
================================================================================================================================
</TABLE>


                        P&I Advances at Distribution Date
- ------------------------------------------------------------------------------

        Beginning         Recovered           Current            Ending
         Balance           Advances          Advances           Balance
- ------------------------------------------------------------------------------


       1,531,533.81      1,440,718.99      1,356,838.01       1,447,652.83
==============================================================================


<PAGE>



OAKWOOD MORTGAGE INVESTORS, INC. 1996-A                REPORT DATE:APRIL 6, 1997
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   POOL REPORT # 14
REMITTANCE REPORT
REPORTING MONTH: MARCH 31, 1997                                      Page 2 of 6


<TABLE>
<CAPTION>
Class B Crossover Test                                                               Test Met?           
- -----------------------------------------------------------------                    ---------------
<S>                                                                                  <C>
(a) Remittance date on or after August 2000                                                N             
                                                                                                         

(b) Average 60 day Delinquency rate <=        5%                                           Y             
                                                                                                         
(c) Average 30 day Delinquency rate <=        7%                                           Y             
                                                                                                         
                                                                                                         
- -------------------------------------------------------------
(d) Cumulative losses do not exceed the following                                                        
                                                                                                         
percent of the intitial principal balance of all Certificates
                                                                                                        

                   April 2000 -Sept. 2001     7%                                           N
                   Oct 2001 -Sept. 2002       8%                                           N
                   Oct 2002 -                 9%                                           N             
- -------------------------------------------------------------                                            

                                                                                                         
                                                                                                         
(e) Current realized loss ratio <=            2.75%                                        Y             
                                                                                                         
                                                                                                         
(f) Are class B principal balances >=         21.001%                                                    
                                                                                                         
of stated scheduled pool  balance
                                                                                                         
                Beginning B-1 balance                                     13,069,000.00
                Beginning B-2 balance                                      6,536,459.00                  
                                                                                                         
                                                                                                         
                                                                   --------------------                    
                                                                          19,605,459.00
                Divided by beginning pool
                balance                                                  148,634,025.23
                                                                   --------------------
                                                                                  13.190%  N             
                                                                   ====================
                                                                                                         
                                                                                                         


Average 60 day delinquency ratio:                                                                                                   
                                                                              
                                                                              
                           Over 60s           Pool Balance            %       
                      --------------------------------------------------------
                                                                              
Current Mo                     6,596,565.10     147,215,393.18      4.48%     
1st Preceding Mo               6,332,977.51     148,634,025.23      4.26%     
2nd Preceding Mo               6,366,964.73     149,936,094.14      4.25%     
                                                      Divided by      3       
                                                                 -------------
                                                                              
                                                                    4.33%     
                                                                 =============
                                                                              
                                                                              
Average 30 day delinquency ratio:                                                                              
                                                                              
                                                                              
                                 Over 30s          Pool Balance       %       
                      --------------------------------------------------------                                                      
                                                                                                                                    
Current Mo                     8,836,343.16      147,215,393.18    6.00%                                                           
1st Preceding Mo               9,036,716.09      148,634,025.23    6.08%                                                           
2nd Preceding Mo               9,285,064.51      149,936,094.14    6.19%     
                                                     Divided by      3       
                                                                   -----------
                                                                    6.09%     
                                                                   ===========
                                                                              
Cumulative loss ratio:                                                        
                                                                              
                       Cumulative losses   1,068,739.91           
                                            ------------------------             
Divided by Initial Certificate Principal 163,369,459.00             0.654%    
                                                                   ===========
                                                                              
                                                                              
                                                                              
                                                                              
Current realized loss ratio:                                                  
                                                                              
                               Liquidation            Pool                                                                        
                                  Losses             Balance                      
                      -------------------------------------------             
                                                                              
Current Mo                       195,199.48       148,634,025.23           
1st Preceding Mo                 130,423.08       149,936,094.14           
2nd Preceding Mo                 203,987.10       151,210,805.03          
                                                                    1.420%    
                                                                   ===========

</TABLE>


<PAGE>


OAKWOOD MORTGAGE INVESTORS, INC. 1996-A
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   REPORT DATE:APRIL 6, 1997
REMITTANCE REPORT                                               POOL REPORT # 14
REPORTING MONTH: MARCH 31, 1997                                      Page 3 of 6

<TABLE>
<CAPTION>




                                                                     Delinquency Analysis                               
                                                                                                                        
                                                 31 to 59 days           60 to 89 days            90 days and Over      
                 No. of        Principal              Principal                 Principal                 Principal     
                 Loans         Balance          #     Balance          #        Balance         #          Balance      
              ----------------------------------------------------------------------------------------------------------
<S>               <C>       <C>                <C>   <C>             <C>         <C>           <C>       <C>            
Excluding Repos   4,953     144,245,286.57     80    2,239,778.06    33          946,274.96    81        2,768,043.43   

        Repos        91       2,970,106.61      0            0.00     9          227,894.89    80        2,654,351.82   
              ----------------------------------------------------------------------------------------------------------

        Total     5,044     147,215,393.18     80    2,239,778.06    42        1,174,169.85   161        5,422,395.25   
              ==========================================================================================================

<CAPTION>
                                                                      Repossession Analysis                                      
                             Active Repos                          Reversal    Current Month                                        
     Total Delinq.            Outstanding                        (Redemption)      Repos                 Cumulative Repos           
           Principal                 Principal                     Principal            Principal                 Principal         
    #       Balance          #        Balance          #            Balance     #       Balance           #       Balance           
- ----------------------------------------------------------------------------------------------------------------------------------- 
<C>       <C>               <C>     <C>                <C>        <C>          <C>     <C>              <C>        <C>             
    194   5,954,096.45      91      2,970,106.61      -1          (29,714.93)  25      642,187.45       272      7,141,540.48       
                                                                                                                                   
     89   2,882,246.71                                                                                                            
- --------------------                                                                                                              
                                                                                                                                  
    283   8,836,343.16                                                                                                            
=========================                                                                                                        
                                                                                                                                 
    5.6%         6.00%                                                                                                           
=========================                                                                                                        
                                                                                                                                 
</TABLE>

                                                                         

<PAGE>



OAKWOOD MORTGAGE INVESTORS, INC. 1996-A
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   REPORT DATE:APRIL 6, 1997
REMITTANCE REPORT                                               POOL REPORT # 14
REPORTING MONTH: MARCH 31, 1997
                                                                     Page 4 of 6
REPOSSESSION LIQUIDATION REPORT

<TABLE>
<CAPTION>



                                        Liquidated                                                                           Net    
   Account     Customer                  Principal           Sales          Insur.          Total        Repossession    Liquidation
   Number        Name                     Balance          Proceeds         Refunds        Proceeds        Expenses        Proceeds 
- ------------------------------------------------------------------------------------------------------------------------------------
<C>    <C>                                <C>                <C>           <C>              <C>               <C>           <C>     
083439-0      CHURCH                      10,909.11          2,000.00      1,692.72         3,692.72          885.00        2,807.72
078837-2      REEVES                      11,149.05          4,050.00      1,306.68         5,356.68        1,470.00        3,886.68
080307-2      LONG                        10,060.80          3,000.00          0.00         3,000.00          300.00        2,700.00
081212-3      SMITH                       15,893.21         16,500.00        420.17        16,920.17          600.00       16,320.17
081949-0      BUTLER                      10,420.31          4,750.00        408.16         5,158.16            0.00        5,158.16
082106-6      PARKHURST                   11,756.93          4,100.00        958.27         5,058.27          575.00        4,483.27
083275-8      YARBROUGH                   10,451.00         18,500.00          0.00        18,500.00        3,821.00       14,679.00
080174-6      TOWNSEND                    26,652.79         25,900.00      1,301.74        27,201.74        3,138.23       24,063.51
082891-3      REID                        26,833.49         26,900.00          0.00        26,900.00        6,391.47       20,508.53
083796-3      CAMERON                     20,085.94         21,500.00          0.00        21,500.00        3,479.22       18,020.78
078910-7      ROBBINS                     27,184.33         24,700.00        813.81        25,513.81        4,658.36       20,855.45
079341-4      RISER                       35,435.57         24,800.00      1,719.26        26,519.26        3,957.22       22,562.04
079576-5      BYRD                        33,677.78         26,900.00      2,000.44        28,900.44        3,627.00       25,273.44
079986-6      WOODS                       26,100.67         24,900.00          0.00        24,900.00        3,532.00       21,368.00
081144-8      BAKER                       31,296.57         29,900.00        995.28        30,895.28        3,773.16       27,122.12
081321-2      KEELIN                      36,969.30         34,900.00      1,750.24        36,650.24        2,639.24       34,011.00
081339-4      HERNANDEZ                   24,396.14         25,500.00      2,374.47        27,874.47        8,146.00       19,728.47
081502-7      FLINTON                     34,332.45         31,900.00      1,801.26        33,701.26        1,632.00       32,069.26
081574-6      WILSON                      32,728.07         27,500.00      1,755.79        29,255.79        6,499.75       22,756.04
082549-7      BATES                       27,014.09         24,495.00      1,693.86        26,188.86        3,781.15       22,407.71
082987-9      MIRELES                     32,694.29         30,100.00      1,999.25        32,099.25        5,263.00       26,836.25
083012-5      CULP                        36,606.99         28,400.00      1,555.33        29,955.33        1,830.00       28,125.33
083423-4      ETHERIDGE                   32,584.60         29,750.00      1,886.75        31,636.75        3,180.36       28,456.39
083678-3      MISHOE                      40,311.69         38,300.00      1,148.81        39,448.81       11,795.89       27,652.92
083829-2      GRUBBS                      27,811.12         24,900.00      1,924.35        26,824.35        1,163.31       25,661.04
                                                                                                0.00                            0.00
                                ====================================================================================================
                                         633,356.29        554,145.00     29,506.64       583,651.64       86,138.36      497,513.28
                                ====================================================================================================

<CAPTION>

                    

                                                       Net              Current                                
   Account                        Unrecov.           Pass Thru         Period Net            Cumulative        
   Number                         Advances            Proceeds         Gain/(Loss)    Gain/(Loss)              
- -----------              --------------------------------------------------------------------------------      
<S>                                <C>                 <C>            <C>                                    
083439-0                             3,690.36            (882.64)       (11,791.75)      
078837-2                             1,642.56           2,244.12         (8,904.93)                            
080307-2                             1,059.60           1,640.40         (8,420.40)                            
081212-3                             1,094.72          15,225.45           (667.76)                            
081949-0                             1,494.66           3,663.50         (6,756.81)                            
082106-6                             1,471.20           3,012.07         (8,744.86)                            
083275-8                             1,480.02          13,198.98          2,747.98                             
080174-6                             3,279.50          20,784.01         (5,868.78)                            
082891-3                             2,447.48          18,061.05         (8,772.44)                            
083796-3                             2,007.32          16,013.46         (4,072.48)                            
078910-7                             2,406.08          18,449.37         (8,734.96)                            
079341-4                             3,920.40          18,641.64        (16,793.93)                            
079576-5                             2,818.64          22,454.80        (11,222.98)                            
079986-6                             1,677.66          19,690.34         (6,410.33)                            
081144-8                             2,763.04          24,359.08         (6,937.49)                            
081321-2                             3,676.50          30,334.50         (6,634.80)                            
081339-4                             1,311.90          18,416.57         (5,979.57)                            
081502-7                             1,865.35          30,203.91         (4,128.54)                            
081574-6                             2,518.95          20,237.09        (12,490.98)                            
082549-7                             2,052.19          20,355.52         (6,658.57)                            
082987-9                             3,782.02          23,054.23         (9,640.06)                            
083012-5                             2,383.56          25,741.77        (10,865.22)                            
083423-4                             2,828.96          25,627.43         (6,957.17)                            
083678-3                             2,967.51          24,685.41        (15,626.28)                            
083829-2                             2,716.29          22,944.75         (4,866.37)                            
                                                            0.00              0.00                             
                         =======================================================                               
                                    59,356.47         438,156.81       (195,199.48)           (1,068,739.91)   
                         ==================================================================================      
                         
                                                                                                        -1%
                                                                                         ==================


</TABLE>


<PAGE>



OAKWOOD MORTGAGE INVESTORS, INC. 1996-A
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   REPORT DATE:APRIL 6, 1997
REMITTANCE REPORT                                               POOL REPORT # 14
REPORTING MONTH: MARCH 31, 1997
                                                                     Page 5 of 6

<TABLE>
<CAPTION>
CERTIFICATE PRINCIPAL ANALYSIS

PRINCIPAL

                                            Original              Beginning             Current            Accelerated              
             Cert.                         Certificate           Certificate           Principal            Principal      Writedown
             Class                          Balances              Balances              Payable            Distribution      Amounts
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                        <C>                   <C>                  <C>                      <C>             <C>  
A-1                                        46,000,000.00         31,264,566.08        (1,418,632.05)           0.00            0.00 
A-1 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 

A-2                                        52,000,000.00         52,000,000.00                 0.00            0.00            0.00 
A-2 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 

A-3                                        31,061,000.00         31,061,000.00                 0.00            0.00            0.00 
A-3 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 

A-4                                        14,703,000.00         14,703,000.00                 0.00            0.00            0.00 
A-4 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 

B-1                                        13,069,000.00         13,069,000.00                 0.00            0.00            0.00 
B-1 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 

B-2                                         6,536,459.00          6,536,459.00                 0.00            0.00            0.00 
B-2 Outstanding Writedown                           0.00                  0.00                 0.00            0.00            0.00 


                                ----------------------------------------------------------------------------------------------------

                                          163,369,459.00        148,634,025.08        (1,418,632.05)           0.00            0.00 
                                ====================================================================================================

<CAPTION>
                                          Ending                          Principal Paid    
             Cert.                      Certificate        Pool             Per $1,000      
             Class                       Balances         Factor           Denomination     
- ---------------------------     --------------------------------------------------------    
<S>                                  <C>                   <C>              <C>             
A-1                                  29,845,934.03         64.88247%        30.84           
A-1 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
A-2                                  52,000,000.00        100.00000%         0.00           
A-2 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
A-3                                  31,061,000.00        100.00000%         0.00           
A-3 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
A-4                                  14,703,000.00        100.00000%         0.00           
A-4 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
B-1                                  13,069,000.00        100.00000%         0.00           
B-1 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
B-2                                   6,536,459.00        100.00000%         0.00           
B-2 Outstanding Writedown                     0.00          0.00             0.00           
                                                                                            
                                                                                            
                                ------------------                                          
                                                                                            
                                    147,215,393.03                                          
                                ==================                                          
</TABLE>
                                



<PAGE>



OAKWOOD MORTGAGE INVESTORS, INC. 1996-A
OAKWOOD ACCEPTANCE CORP. -  SERVICER                   REPORT DATE:APRIL 6, 1997
REMITTANCE REPORT                                               POOL REPORT # 14
REPORTING MONTH: MARCH 31, 1997
                                                                     Page 6 of 6

<TABLE>
<CAPTION>

CERTIFICATE INTEREST ANALYSIS


                                                                                                                                    
           Certificate           Remittance     Beginning          Current               Total       Interest       Ending          
              Class                 Rate         Balance           Accrual               Paid        Shortfall      Balance         
                                ----------------------------------------------------------------------------------------------------
<S>                                 <C>            <C>            <C>                 <C>                 <C>                <C>    
A-1                                 5.40%          0.00           140,690.55          140,690.55          0.00               0.00   
A-1  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
A-1  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

A-2                                 5.80%          0.00           251,333.33          251,333.33          0.00               0.00   
A-2  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
A-2  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

A-3                                 6.60%          0.00           170,835.50          170,835.50          0.00               0.00   
A-3  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
A-3  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

A-4                                 7.20%          0.00            88,218.00           88,218.00          0.00               0.00   
A-4  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
A-4  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

B-1                                 7.30%          0.00            79,503.08           79,503.08          0.00               0.00   
B-1  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
B-1  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

B-2                                 8.45%          0.00            46,027.57           46,027.57          0.00               0.00   
B-2  Carryover Interest             0.00           0.00                 0.00                0.00          0.00               0.00   
B-2  Writedown Interest             0.00           0.00                 0.00                0.00          0.00               0.00   

X                                            873,540.43           467,642.39          272,442.91    195,199.48       1,068,739.91   

R                                                  0.00                 0.00                0.00          0.00               0.00   

Service Fee                                        0.00           123,861.69          123,861.69          0.00               0.00   
                                      -----------------------------------------------------------------------------------------     

                                             873,540.43         1,368,112.11        1,172,912.63    195,199.48       1,068,739.91   

Less Reserve Fund Deposit                                                                   0.00                                    
                                                                            --------------------                                    

                                                                                    1,172,912.63                                    
                                                                            ====================                                    


<CAPTION>

                                              Interest Paid               
           Certificate                         Per $1,000        Cert.        TOTAL        
              Class                           Denomination       Class     DISTRIBUTION    
                                        -------------------------------------------------  
<S>                                                 <C>              <C>   <C>             
A-1                                                 4.50           A-1     1,559,322.60    
A-1  Carryover Interest                             0.00                                   
A-1  Writedown Interest                             0.00                                   
                                                                                           
A-2                                                 4.83           A-2       251,333.33    
A-2  Carryover Interest                             0.00                                   
A-2  Writedown Interest                             0.00                                   
                                                                                           
A-3                                                 5.50           A-3       170,835.50    
A-3  Carryover Interest                             0.00                                   
A-3  Writedown Interest                             0.00                                   
                                                                                           
A-4                                                 6.00           A-4        88,218.00    
A-4  Carryover Interest                             0.00                                   
A-4  Writedown Interest                             0.00                                   
                                                                                           
B-1                                                 6.08           B-1        79,503.08    
B-1  Carryover Interest                             0.00                                   
B-1  Writedown Interest                             0.00                                   
                                                                                           
B-2                                                 7.04           B-2        46,027.57    
B-2  Carryover Interest                             0.00                                   
B-2  Writedown Interest                             0.00                                   
                                                                                           
X                                                                   X        272,442.91    
                                                                                           
R                                                                   R                      
                                                                                           
Service Fee                                                                  123,861.69    
                                                                         --------------    
                                                                                           
                                                                           2,591,544.68    
                                                                                           
Less Reserve Fund Deposit                                                          0.00    
                                                                           --------------  
                                                                                           
                                                                           2,591,544.68    
                                                                           ==============  
                                        
</TABLE>


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