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) August 15, 2000.
Oakwood Mortgage Investors, Inc. OMI Trust 2000-B
-------------------------------------------------
(Exact name of registrant as specified in charter)
Pennsylvania 333-72621-04 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-B
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-B (the "Trust"), the issuer of the Oakwood Mortgage
Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through
Certificates, Series 2000-B (the "Certificates"), makes monthly distributions to
holders of the Certificates. The latest distribution was made on August 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 August 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-B, Registrant
By: Oakwood Acceptance Corporation,
as servicer
August 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 August 15, 2000...............................
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jul-00
<TABLE>
<CAPTION>
Scheduled Principal Balance of Contracts
-------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross Servicing
Balance Principal Principal Principal Repurchased Balance Interest Fee
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
356,290,216.48 (414,958.08) (3,603,037.76) (21,968.90) 0.00 352,250,251.74 3,316,027.49 288,354.08
================================================================================================================================
<CAPTION>
Scheduled Amount
Pass Thru Liquidation Reserve Available for Limited Total
Interest Proceeds Fund Draw Distribution Guarantee Distribution
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
3,027,673.41 21,321.07 0.00 7,355,344.40 0.00 7,355,344.40
=======================================================================================
</TABLE>
<TABLE>
<CAPTION>
Pre-Funding Account
-------------------------------------------------------------------------------
Beginning Principal Principal Ending Principal
Balance Deposit Distribution Balance
-------------------------------------------------------------------------------
<S> <C> <C> <C>
0.00 85,907,373.17 85,907,373.17 0.00
===============================================================================
</TABLE>
<TABLE>
<CAPTION>
Certificate Account
------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1,335,836.78 3,882,457.74 5,014,004.34 (6,191,625.81) 9,282.16 4,049,955.21
==========================================================================================
</TABLE>
<TABLE>
<CAPTION>
P&I Advances at Distribution Date
-----------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
-----------------------------------------------------------
<S> <C> <C> <C>
170,923.12 -167,773.13 228,215.07 231,365.06
===========================================================
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: July-00
<TABLE>
<CAPTION>
Class B Crossover Test Test Met?
------------------------------------------------------------------------ ---------------
<S> <C> <C> <C>
(a) Remittance date on or after January 2005 N
(b) Average 60 day Delinquency rate <= 5.5% Y
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Jan. 2005 - June 2006 7% N
July 2006 - June 2007 8% N
July 2007 - Dec. 2008 9.5% N
Jan. 2009 and after 10.5% N
(e) Current realized loss ratio <= 3.00% Y
(f) Does subordinated cert. percentage equal or
exceed 39.078%
of stated scheduled pool balance
Beginning M balances 21,600,000.00
Beginning B balances 35,100,000.00
Overcollateralization 12,600,000.00
----------------
69,300,000.00
Divided by beginning pool
balance 356,290,216.48
----------------
19.450% N
================
</TABLE>
Average 60 day delinquency ratio:
<TABLE>
<CAPTION>
Over 60s Pool Balance %
-----------------------------------------------
<S> <C> <C> <C>
Current Mo 1,048,134.69 352,250,251.74 0.30%
1st Preceding Mo 58,731.32 356,290,216.48 0.02%
2nd Preceding Mo 0.00 0.00 0.00%
Divided by 3
--------
0.10%
========
Cumulative loss ratio:
Cumulative losses 647.83
---------
Divided by Initial Certificate Principal 360,000,000.00 0.000%
==========
Current realized loss ratio:
Liquidation Pool
Losses Balance
-----------------------------------
Current Mo 647.83 356,290,216.48
1st Preceding Mo 0.00 360,000,000.00
2nd Preceding Mo 0.00 0.00
-----------------------------------
647.83 238,763,405.49
0.001%
=========
</TABLE>
<PAGE>
<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 8,622 351,975,739.93 117 4,357,198.75 24 714,891.56 1 58,731.32 142 5,130,821.63
Repos 8 274,511.81 0 0.00 8 274,511.81 0 0.00 8 274,511.81
---------------------------------------------------------------------------------------------------------
Total 8,630 352,250,251.74 117 4,357,198.75 32 989,403.37 1 58,731.32 150 5,405,333.44
=========================================================================================================
1.7% 1.53%
===================
<CAPTION>
Repossession Analysis
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> <C>
Excluding Repos 8 274,511.81 0 0.00 7 219,159.34 8 274,511.81
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jul-00
REPOSSESSION LIQUIDATION REPORT
<TABLE>
<CAPTION>
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov.
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
**2174860 SHAMROCK CRUMBLEY 21,968.90 22,090.89 0.00 22,090.89 0.00 22,090.89 769.82
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 0.00
--------------------------------------------------------------------------------------------------
21,968.90 22,090.89 0.00 22,090.89 0.00 22,090.89 769.82
==================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Net Current
Account Customer FHA Insurance Pass Thru Period Net Cumulative
Number Name Coverage Proceeds Gain/(Loss) Gain/(Loss)
-----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
**2174860 SHAMROCK CRUMBLEY 0.00 21,321.07 (647.83)
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 21,321.07 (647.83) (647.83)
=========================================================================
</TABLE>
**LOAN CHARGE OFF
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jul-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-1 290,700,000.00 286,990,216.48 0.00 4,039,964.74 4,039,964.74
------------------------------------------------------------------------------------------------
Total Certificate Principal Bal. 290,700,000.00 286,990,216.48 0.00 4,039,964.74 4,039,964.74
================================================================================================
<CAPTION>
Accelerated
Ending Principal Principal Ending Principal Paid
Senior Shortfall Carry- Distribution Certificate Per $1,000
Certificates Over Amount Balance Pool Factor Denomination
-----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
A-1 0.00 538,350.01 282,411,901.73 97.14892% 15.74928
--------------------------------------------------------
Total Certificate Principal Bal. 0.00 538,350.01 282,411,901.73
========================================================
</TABLE>
<TABLE>
<CAPTION>
Ending
Beginning Principal
Original Beginning Principal Current Current Shortfall
Subordinate Certificate Certificate Shortfall Principal Principal Carry-
Certificates Balance Balance Carry-Over Due Paid Over
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
M-1 21,600,000.00 21,600,000.00 0.00 0.00 0.00 0.00
M-1 Outstanding Writedown 0.00
B-1 18,900,000.00 18,900,000.00 0.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00
B-2 16,200,000.00 16,200,000.00 0.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00
Excess Asset Principal Balance 12,600,000.00 12,600,000.00
----------------------------------------------------------------------------------
Total Excluding Writedown Balances 69,300,000.00 69,300,000.00 0.00 (0.00) (0.00) 0.00
==================================================================================
All Certificates Excluding Writedown Balances 360,000,000.00 356,290,216.48 0.00 4,039,964.74 4,039,964.74 0.00
==================================================================================
<CAPTION>
Accelerated
Current Principal Ending Principal Paid
Subordinate Writedown/ Distribution Certificate Per $1,000
Certificates (Writeup) Amount Balance Pool Factor Denomination
-------------------------------------------------
<S> <C> <C> <C> <C>
M-1 0.00 21,600,000.00 100.00000% 0.00000
M-1 Outstanding Writedown 0.00 0.00
B-1 0.00 18,900,000.00 100.00000% 0.00000
B-1 Outstanding Writedown 0.00 0.00
B-2 0.00 16,200,000.00 100.00000% (0.00000)
B-2 Outstanding Writedown 0.00 0.00
Excess Asset Principal Balance (538,350.01) 13,138,350.01
-------------------------------------------------------------------------------
Total Excluding Writedown Balances 0.00 (538,350.01) 69,838,350.01
=================================================
All Certificates Excluding Writedown Balances 0.00 0.00 352,250,251.74
=================================================
</TABLE>
<PAGE>
OAKWOOD MORTGAGE INVESTORS, INC. 2000-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MO. MONTH Jul-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 8.1500% 0.00 1,949,141.89 0.00 1,949,141.89 0.00 6.70499 6,527,456.64
----------------------------------------------------------------------------- ------------
Total 0.00 1,949,141.89 0.00 1,949,141.89 0.00 6,527,456.64
============================================================================= ============
</TABLE>
<TABLE>
<CAPTION>
Ending
Beginning Current Current Carry-Over Beginning
Pass Carry-Over Priority Carry-Over Priority Priority Carry-Over Current
Subordinate Through Interest Interest Interest Interest Interest Writedown Writedown
Certificates Rate Balance Accured Accured Paid Balance Int. Balance Int. Accrued
-----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
M-1 8.7200% 0.00 156,960.00 0.00 156,960.00 0.00 0.00 0.00
B-1 9.1500% 0.00 144,112.50 0.00 144,112.50 0.00 0.00 0.00
B-2 8.5000% 0.00 114,750.00 0.00 114,750.00 0.00 0.00 0.00
X 0.00 538,997.84 0.00 0.00 538,997.84
R 0.00 0.00 0.00 0.00 0.00
Service Fee 1.0000% 123,711.18 288,354.08 0.00 412,065.26 0.00
-------------------------------------------------------------------------------------------------------
Total 123,711.18 1,243,174.42 0.00 827,887.76 538,997.84 0.00 0.00
=======================================================================================================
All Certificates 123,711.18 3,192,316.31 0.00 2,777,029.65 538,997.84 0.00 0.00
=======================================================================================================
<CAPTION>
Current Ending Interest
Carry-Over Writedown Carry-Over Paid Per
Subordinate Writedown Interest Writedown 1000 Total Class
Certificates Int. Accrued Paid Int. Balance Denomination Distribution
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
M-1 0.00 0.00 0.00 7.26667 156,960.00
B-1 0.00 0.00 0.00 7.62500 144,112.50
B-2 0.00 0.00 0.00 7.08333 114,750.00
X 0.00
R 0.00
Service Fee 412,065.26
------------------------------------------------------ --------------------
Total 0.00 0.00 0.00 827,887.76
====================================================== ====================
All Certificates 0.00 0.00 0.00 7,355,344.40
====================================================== ====================
Cumulative X Interest Shortfall 538,997.84
Cumulative Accelerated Prin. Disb. (538,350.01)
--------------------
647.83
====================
</TABLE>
