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) May 15, 2000.
OMI Trust 2000-A
------------------------------------
(Exact name of registrant as specified in charter)
Pennsylvania 333-72621-01 applied for
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o Chase Manhattan Trust Co.
Global Trust
Attention: Judy Wisniewskie
One Liberty Place, Suite 5520
1650 Market Street
Philadelphia, Pennsylvania 19103
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (215) 988-1322
---------------
-------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
<PAGE>
OMI TRUST 2000-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 2000-A (the "Trust"), the issuer of the Oakwood Mortgage
Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through
Certificates, Series 2000-A (the "Certificates"), makes monthly distributions to
holders of the Certificates. The latest distribution was made on May 15, 2000.
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 May 15, 2000.
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 2000-A, Registrant
By: Oakwood Acceptance Corporation,
as servicer
May 23, 2000
Douglas R. Muir
Vice President
<PAGE>
INDEX OF EXHIBITS
<TABLE>
<CAPTION>
Page of Sequentially
Numbered Pages
<S> <C>
20.1 Monthly Remittance Report relating to Distribution
Date occurring on May 15, 2000.......................................
</TABLE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-00
<TABLE>
<CAPTION>
Scheduled Principal Balance of Contracts
- ----------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
325,360,029.94 (298,889.01) (2,141,742.20) 0.00 0.00 322,919,398.73 2,731,886.23
====================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Certificate Account
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,256,670.39 2,373,942.11 2,465,365.12 (5,799,311.87) 10,352.59 2,307,018.34
====================================================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for Limited Total
Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
271,133.36 2,460,752.87 0.00 0.00 5,172,517.44 0.00 5,172,517.44
====================================================================================================================================
</TABLE>
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
318,892.69 -311,425.00 436,415.48 443,883.17
================================================================================
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: April-00
<TABLE>
<CAPTION>
Class B Crossover Test Test Met?
- --------------------------------------------------------------------- ---------------
<S> <C> <C>
(a) Remittance date on or after October 2004 N
(b) Average 60 day Delinquency rate <= 5.5% #DIV/0!
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Oct. 2004 - Mar. 2006 7% N
April 2006 - Mar. 2007 8% N
April 2007 - Sept. 2008 9.5% N
Oct. 2008 and After 10.5% N
(e) Current realized loss ratio <= 3.00% Y
(f) Does subordinated cert. percentage equal or
exceed 41.618%
of stated scheduled pool balance
Beginning M balances 32,844,000.00
Beginning B balances 32,023,000.00
Overcollateralization 11,495,849.57
---------------------
76,362,849.57
Divided by beginning pool
balance 325,360,029.94
---------------------
23.470% N
=====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
------------------------------------------------------------
Current Mo 979,221.82 322,919,398.73 0.30%
1st Preceding Mo 133,852.33 325,360,029.94 0.04%
2nd Preceding Mo 0.00 0.00 #DIV/0!
Divided by 3
------------------
#DIV/0!
==================
Cumulative loss ratio:
Cumulative losses 0.00
-----------------------
Divided by Initial Certificate Principal 328,440,849.57 0.000%
==================
Current realized loss ratio:
Liquidation Pool
Losses Balance
------------------------------------------
Current Mo 0.00 325,360,029.94
1st Preceding Mo 0.00 328,440,849.57
2nd Preceding Mo 0.00 0.00
0.00 217,933,626.50
0.000%
==================
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-00
<TABLE>
<CAPTION>
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over Total Delinq.
No. of Principal Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance # Balance
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Excluding Repos 6,499 322,741,887.58 86 3,870,614.16 22 853,961.11 3 125,260.71 111 4,849,835.98
Repos 5 177,511.15 0 0.00 5 177,511.15 0 0.00 5 177,511.15
-------------------------------------------------------------------------------------------------------------------
Total 6,504 322,919,398.73 86 3,870,614.16 27 1,031,472.26 3 125,260.71 116 5,027,347.13
====================================================================================================================
1.8% 1.56%
===============================
</TABLE>
Repossession Analysis
<TABLE>
<CAPTION>
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
5 177,511.15 0 0.00 4 143,610.74 5 177,511.15
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-00
REPOSSESSION LIQUIDATION REPORT
<TABLE>
<CAPTION>
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00
--------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00
==================================================================================================
Net Current
Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00
- ----------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00
==============================================================================================
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-00
CERTIFICATE PRINCIPAL ANALYSIS
<TABLE>
<CAPTION>
PRINCIPAL
Beginning Beginning
SENIOR Original Certificate Certificate Principal Shortfall Current Principal Current
CERTIFICATES Balance Balance Carry-Over Due Principal Paid
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 65,000,000.00 61,358,953.10 0.00 2,440,631.21 2,440,631.21
A-2 23,000,000.00 23,000,000.00 0.00 0.00 0.00
A-3 14,000,000.00 14,000,000.00 0.00 0.00 0.00
A-4 25,000,000.00 25,000,000.00 0.00 0.00 0.00
A-5 125,078,000.00 125,078,000.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------
Total Certificate Principal Bal. 252,078,000.00 248,436,953.10 0.00 2,440,631.21 2,440,631.21
================================================================================================
Accelerated
Ending Principal Principal Ending Principal Paid
Shortfall Carry- Distribution Certificate Per $1,000
Over Amount Balance Pool Factor Denomination
- ------------------------------------------------------------------
0.00 434,916.56 58,483,405.33 89.97447% 44.23920
0.00 0.00 23,000,000.00 100.00000% 0.00000
0.00 0.00 14,000,000.00 100.00000% 0.00000
0.00 0.00 25,000,000.00 100.00000% 0.00000
0.00 0.00 125,078,000.00 100.00000% 0.00000
- ------------------------------------------------------------
0.00 434,916.56 245,561,405.33
============================================================
</TABLE>
<TABLE>
<CAPTION>
Beginning Beginning
SUBORDINATE Original Certificate Certificate Principal Shortfall Current Principal
CERTIFICATES Balance Balance Carry-Over Due
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
M-1 20,527,000.00 20,527,000.00 0.00 0.00
M-1 Outstanding Writedown 0.00
M-2 12,317,000.00 12,317,000.00 0.00 0.00
M-2 Outstanding Writedown 0.00
B-1 13,138,000.00 13,138,000.00 0.00 0.00
B-1 Outstanding Writedown 0.00
B-2 18,885,000.00 18,885,000.00 0.00 0.00
B-2 Outstanding Writedown 0.00
Excess Asset Principal Balance 11,495,849.57 12,056,076.84
----------------------------------------------------------------------------------
Total Excluding Writedown Balances 76,362,849.57 76,923,076.84 0.00 0.00
==================================================================================
All Certificates Excluding Writedown Balances 328,440,849.57 325,360,029.94 0.00 2,440,631.21
==================================================================================x
Accelerated
Ending Principal Current Principal Ending Principal Paid
Current Shortfall Carry- Writedown/ Distribution Certificate Per $1,000
Principal Paid Over (Writeup) Amount Balance Pool Factor Denomination
- -------------------------------------------------------------------------------------------------
0.00 0.00 0.00 20,527,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 12,317,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 13,138,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 18,885,000.00 100.00000% 0.00000
0.00 0.00
(434,916.56) 12,490,993.40
- ------------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 (434,916.56) 77,357,993.40
=================================================================================================
2,440,631.21 0.00 0.00 0.00 322,919,398.73
=================================================================================================
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MO. MONTH Apr-00
CERTIFICATE INTEREST ANALYSIS
<TABLE>
<CAPTION>
Current Interest
Pass Beginning Carry- Carry-Over Ending Paid Per
SENIOR Through Over Priority Current Priority Priority Interest Carry-Over 1000 Total Class
CERTIFICATES Rate Interest Balance Interest Accrual Accrual Paid Balance Denomination Distribution
----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A-1 6.2800% 0.00 321,111.85 0.00 321,111.85 0.00 4.94018 3,196,659.62
A-2 7.7650% 0.00 148,829.17 0.00 148,829.17 0.00 6.47083 148,829.17
A-3 7.9450% 0.00 92,691.67 0.00 92,691.67 0.00 6.62083 92,691.67
A-4 8.1500% 0.00 169,791.67 0.00 169,791.67 0.00 6.79167 169,791.67
A-5 8.1600% 0.00 850,530.40 0.00 850,530.40 0.00 6.80000 850,530.40
---------------------------------------------------------------------------- -------------
Total 0.00 1,582,954.76 0.00 1,582,954.76 0.00 4,458,502.53
============================================================================ =============
Current Ending Beginning
Pass Beginning Carry- Carry-Over Carry-Over Carry-Over
SUBORDINATE Through Over Priority Current Priority Priority Interest Priority Interest Priority Interest Writedown
CERTIFICATES Rate Interest Balance Interest Accured Accured Paid Balance Int. Balance
--------------------------------------------------------------------------------------------------------------------
M-1 8.3000% 0.00 141,978.42 0.00 141,978.42 0.00 0.00
M-2 8.2500% 0.00 84,679.38 0.00 84,679.38 0.00 0.00
B-1 8.2500% 0.00 90,323.75 0.00 90,323.75 0.00 0.00
B-2 8.0000% 0.00 125,900.00 0.00 125,900.00 0.00 0.00
X 560,227.27 434,916.56 0.00 0.00 995,143.83
R 0.00 0.00 0.00 0.00 0.00
Service Fee 1.0000% 0.00 271,133.36 0.00 271,133.36 0.00
--------------------------------------------------------------------------------------------------------
TOTAL 560,227.27 1,148,931.47 0.00 714,014.91 995,143.83 0.00
========================================================================================================
All Certificates 560,227.27 2,731,886.23 0.00 2,296,969.67 995,143.83 0.00
========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Current Ending Interest
Current Carry-Over Carry-Over Paid Per
Writedown Writedown Writedown Writedown 1000 Total Class
Int. Accrued Int. Accrued Interest Paid Int. Balance Denomination Distribution
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
0.00 0.00 0.00 0.00 6.91667 141,978.42
0.00 0.00 0.00 0.00 6.87500 84,679.38
0.00 0.00 0.00 0.00 6.87500 90,323.75
0.00 0.00 0.00 0.00 6.66667 125,900.00
0.00
0.00
271,133.36
- -------------------------------------------------------------------------------- --------------------
0.00 0.00 0.00 0.00 714,014.91
================================================================================ ====================
0.00 0.00 0.00 0.00 5,172,517.44
================================================================================ ====================
Cumulative X Interest Shortfall 995,143.83
Cumulative Accelerated Prin. Disb. (995,143.83)
--------------------
0.00
====================
</TABLE>
