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 15, 2001.
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OMI Trust 2000-C
-----------------
(Exact name of registrant as specified in charter)
Nevada 333-72621-05 applied for
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
c/o Wells Fargo Bank Minnesota, N.A.
Attention: Lawrence Rossiter
Sixth Street & Marquette Ave
MAC N 9311-161
Minneapolis, Minnesota 55479
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (612) 667-3529
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- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report.)
OMI Trust 2000-C
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-C (the "Trust"), the issuer of the Oakwood Mortgage
Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through
Certificates, Series 2000-C (the "Certificates"), makes monthly distributions to
holders of the Certificates. The latest distribution was made on February 15,
2001. 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 February 15, 2001.
Item 8. Change in Fiscal Year.
Not Applicable.
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-C, Registrant
By: Oakwood Acceptance Corporation,
as servicer
February 23, 2001
Douglas R. Muir
Vice President
INDEX OF EXHIBITS
Page of Sequentially
Numbered Pages
20.1 Monthly Remittance Report relating to Distribution
Date occurring on February 15, 2001..............................................................
Exhibit 20.1
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jan-01
Scheduled Principal Balance of Contracts
- ------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Pre-Funding Principal
Balance Principal Principal Principal Balance
- ------------------------------------------------------------------------------------------------
249,997,938.57 (475,391.93) (2,863,016.27) (167,678.10) 0.00 246,491,852.27
================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Available for Total
Interest Fee Interest Proceeds Distribution Distribution
- ----------------------------------------------------------------------------------------------------------------------------------
2,513,725.45 208,331.62 2,305,393.83 109,031.64 0.00 5,961,165.29 0.00 5,961,165.29
==================================================================================================================================
Certificate Account
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ------------------------------------------------------------------------------------------------------------------------------------
2,894,652.17 3,527,566.53 2,571,345.14 (6,393,036.70) 8,090.73 2,608,617.87
====================================================================================================================================
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
1,585,362.63 -1,585,362.63 1,548,241.47 1,548,241.47
================================================================================
Capitalized Interest Account
- --------------------------------------------------------------------------------
Beginning Ending
Balance Deposit Withdraw Balance
- --------------------------------------------------------------------------------
0.00 0.00 0.00 0.00
================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: January-01
Class B Crossover Test Test Met?
- --------------------------------------------------------------------------- ---------------
(a) Remittance date on or after April 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
Apr. 2005 - Sept. 2006 7% N
Oct. 2006 - Sept. 2007 8% N
Oct. 2007 - Mar. 2009 9.5% N
April 2009 and After 10.5% N
(e) Current realized loss ratio <= 3.00% Y
(f) Does subordinated cert. percentage equal or
exceed 56.840%
of stated scheduled pool balance
Beginning M balances 41,323,000.00
Beginning B balances 27,993,000.00
Overcollateralization 7,997,938.14
--------------------
77,313,938.14
Divided by beginning pool
balance 249,997,938.57
--------------------
30.926% N
====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
---------------------------------------------------------
Current Mo 5,958,635.88 246,491,852.27 2.42%
1st Preceding Mo 3,042,549.09 249,997,938.57 1.22%
2nd Preceding Mo 1,384,067.74 253,822,286.49 0.55%
Divided by 3
---------------
1.39%
===============
Cumulative loss ratio:
Cumulative losses 73,164.18
-----------------------
Divided by Initial Certificate Principal 266,597,938.14 0.027%
===============
Current realized loss ratio:
Liquidation Pool
Losses Balance
------------------------------------------
Current Mo 58,646.46 249,997,938.57
1st Preceding Mo 14,517.72 253,822,286.49
2nd Preceding Mo 0.00 258,140,471.59
------------------------------------------
73,164.18 253,986,898.88
0.115%
===============
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jan-01
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
---------------------------------------------------------------------------------------------------------------
Excluding Repos 6,943 244,904,995.52 190 5,868,581.45 92 3,056,772.13 45 1,579,281.24
Repos 49 1,586,856.75 4 194,919.75 10 312,737.94 33 1,009,844.57
---------------------------------------------------------------------------------------------------------------
Total 6,992 246,491,852.27 194 6,063,501.20 102 3,369,510.07 78 2,589,125.81
===============================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
- ------------------------------------------------------------------------------------------------------------------------------------
327 10,504,634.82 49 1,586,856.75 -2 (18,470.44) 21 696,900.24 58 1,810,011.05
47 1,517,502.26
- ---------------------------
374 12,022,137.08
===========================
5.3% 4.88%
============================
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jan-01
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- ------------------------------------------------------------------------------------------------------------------------------------
0097790 HERBERT M DALTON 10,574.31 18,000.00 0.00 18,000.00 6,315.00 11,685.00
0108696 CYNTHIA KELLY 9,741.08 3,000.00 0.00 3,000.00 660.00 2,340.00
0125633 AUBREY L THOMAS 9,299.51 10,500.00 0.00 10,500.00 6,090.00 4,410.00
0183905 JOHN A CROCKTON 10,989.74 3,650.00 0.00 3,650.00 660.00 2,990.00
2007672 DONALD JOINER JR 27,124.90 31,400.00 628.73 32,028.73 6,717.00 25,311.73
2295368 GEORGE A ROLAND JR 27,613.43 25,900.00 378.40 26,278.40 6,552.00 19,726.40
2230050 ERIC B DEESE 36,143.87 33,900.00 440.16 34,340.16 5,775.00 28,565.16
2262657 LILLIE BARELA 36,191.26 33,500.00 679.91 34,179.91 6,780.00 27,399.91
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
-----------------------------------------------------------------------------------------------
167,678.10 159,850.00 2,127.20 161,977.20 39,549.00 122,428.20
===============================================================================================
Net Current
Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
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1,481.91 0.00 10,203.09 (371.22)
1,233.89 0.00 1,106.11 (8,634.97)
754.70 0.00 3,655.30 (5,644.21)
1,294.33 0.00 1,695.67 (9,294.07)
2,303.82 0.00 23,007.91 (4,116.99)
2,024.33 0.00 17,702.07 (9,911.36)
1,957.86 0.00 26,607.30 (9,536.57)
2,345.72 0.00 25,054.19 (11,137.07)
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
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13,396.56 0.00 109,031.64 (58,646.46) (73,164.18)
=============================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jan-01
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Beginning Beginning
Senior Original Certificate Certificate Principal Shortfall Current Principal
Certificates Balance Balance Carry-Over Due
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A-1 189,284,000.00 170,719,284.41 0.00 3,506,086.30
------------------------------------------------------------------------------------
Total Certificate Principal Bal. 189,284,000.00 170,719,284.41 0.00 3,506,086.30
====================================================================================
Accelerated
Ending Principal Principal Ending Principal Paid
Current Shortfall Carry- Distribution Certificate Per $1,000
Principal Paid Over Amount Balance Pool Factor Denomination
- --------------------------------------- -----------------------------------------------
3,506,086.30 0.00 613,641.48 166,599,556.63 88.01566% 21.76480
- --------------------------------------------------------------------------------------------
3,506,086.30 0.00 613,641.48 166,599,556.63
============================================================================================
Beginning Beginning
Subordinate Original Certificate Certificate Principal Shortfall Current Principal
Certificates Balance Balance Carry-Over Due
--------------------------------------------------------------------------------
M-1 26,660,000.00 26,660,000.00 0.00 0.00
M-1 Outstanding Writedown 0.00
M-2 14,663,000.00 14,663,000.00 0.00 0.00
M-2 Outstanding Writedown 0.00
B-1 13,330,000.00 13,330,000.00 0.00 0.00
B-1 Outstanding Writedown 0.00
B-2 14,663,000.00 14,663,000.00 0.00 0.00
B-2 Outstanding Writedown 0.00
Excess Asset Principal Balance 7,997,938.14 9,962,654.16
--------------------------------------------------------------------------------
Total Excluding Writedown Balances 77,313,938.14 79,278,654.16 0.00 0.00
================================================================================
All Certificates Excluding Writedown Balances 266,597,938.14 249,997,938.57 0.00 3,506,086.30
================================================================================
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
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0.00 0.00 0.00 26,660,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 14,663,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 13,330,000.00 100.00000% 0.00000
0.00 0.00
0.00 0.00 0.00 14,663,000.00 100.00000% 0.00000
0.00 0.00
(613,641.48) 10,576,295.64
- ------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 (613,641.48) 79,892,295.64
======================================================================================================
3,506,086.30 0.00 0.00 0.00 246,491,852.27
======================================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2000-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH Jan-01
CERTIFICATE INTEREST ANALYSIS
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
---------------------------------------------------------------------------------------------------------------------
A-1 7.7200% 0.00 1,098,294.06 0.00 1,098,294.06 0.00 5.80236 5,218,021.84
------------------------------------------------------------------------------- ------------
Total 0.00 1,098,294.06 0.00 1,098,294.06 0.00 5,218,021.84
=============================================================================== ============
Current Ending
Pass Beginning Carry- Carry-Over Carry-Over
Subordinate Through Over Priority Current Priority Priority Interest Priority Interest Priority Interest
Certificates Rate Interest Balance Interest Accured Accured Paid Balance
--------------------------------------------------------------------------------------------------------------
M-1 8.4900% 0.00 188,619.50 0.00 188,619.50 0.00
M-2 8.9000% 0.00 108,750.58 0.00 108,750.58 0.00
B-1 9.4200% 0.00 104,640.50 0.00 104,640.50 0.00
B-2 10.5000% 0.00 128,301.25 0.00 128,301.25 0.00
X 1,979,354.22 672,287.94 0.00 0.00 2,651,642.16
R 0.00 0.00 0.00 0.00 0.00
Service Fee 1.0000% 0.00 208,331.62 0.00 208,331.62 0.00
Current Trustee Fees 4,500.00
---------------------------------------------------------------------------------------------------
Total 1,979,354.22 1,410,931.39 0.00 743,143.45 2,651,642.16
===================================================================================================
All Certificates 1,979,354.22 2,509,225.45 0.00 1,841,437.51 2,651,642.16
===================================================================================================
Beginning Current Ending Interest
Carry-Over Current Carry-Over Carry-Over Paid Per
Writedown Writedown Writedown Writedown Writedown 1000 Total Class
Int. Balance Int. Accrued Int. Accrued Interest Paid Int. Balance Denomination Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 7.07500 188,619.50
0.00 0.00 0.00 0.00 0.00 7.41667 108,750.58
0.00 0.00 0.00 0.00 0.00 7.85000 104,640.50
0.00 0.00 0.00 0.00 0.00 8.75000 128,301.25
0.00
0.00
208,331.62
4,500.00
- ---------------------------------------------------------------------------------------- --------------------
0.00 0.00 0.00 0.00 0.00 743,143.45
======================================================================================== ====================
0.00 0.00 0.00 0.00 0.00 5,961,165.29
======================================================================================== ====================
Cumulative X Interest Shortfall 2,651,642.16
Cumulative Accelerated Prin. Disb. (2,578,477.98)
--------------------
Cumulative Losses 73,164.18
====================