OMB APPROVAL
OMB Number 3235-0063
Expires: June 30, 1997

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
FORM 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934. [FEE REQUIRED]

For the fiscal year ended September 30, 1996

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934. [NO FEE REQUIRED]

For the transition period from _______________________ to _________________

Commission file number 33-99320

OMI TRUST 1996-B
(Exact name of registrant as specified in its charter)

Pennsylvania 23-2855625
State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization

c/o PNC Bank, N.A.
Corporate Trust Department
Attention: Constantine Hromych
1700 Market Street, Suite 1412, Philadelphia, PA 19103
(Address of principal executive offices) (Zip Code)

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

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. |X| Yes |_| No

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K (ss. 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of registrant's knowledge, in
definitive proxy or information statements incorporated by reference in Part III
of this Form 10-K or any amendment to this Form 10-K. [X]

OMI Trust 1996-B
Oakwood Mortgage Investors, Inc.
Manufactured Housing Contract Senior/Subordinated
Pass-Through Certificates, Series 1996-B

FORM 10-K
INDEX

Page Number
PART I.

Item 1. Business
Item 2. Properties
Item 3. Legal Proceedings
Item 4. Submission of Matters to a Vote of Security Holders

PART II.

Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters
Item 6. Selected Financial Data
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations
Item 8. Financial Statements and Supplementary Data
Item 9. Changes In and Disagreements With Accountants on
Accounting and Financial Disclosure

PART III.

Item 10. Directors and Executive Officers of the Registrant
Item 11. Executive Compensation
Item 12. Security Ownership of Certain Beneficial Owners
and Management
Item 13. Certain Relationships and Related Transactions

PART IV.

Item 14. Exhibits, Financial Statement Schedules and
Reports on Form 8-K

SIGNATURES

INDEX OF EXHIBITS

PART I

Item 1. Business.

Not Applicable.

Item 2. Properties.

Not Applicable.

Item 3. Legal Proceedings.

Not Applicable.

Item 4. Submission of Matters to a Vote of Security Holders.

Not Applicable.

PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters.

At the end of the Registrant's fiscal year, there were a total of 57
holders of the Registrant's Series 1996- B Manufactured Housing Contract
Senior/Subordinated Pass-Through Certificates, Class A-1, Class A-2, Class A-3,
Class A-4, Class A-5, Class A-6, Class B-1 and Class B-2 (collectively, the
"Certificates").

Item 6. Selected Financial Data.

Not Applicable.

Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.

Not Applicable.

Item 8. Financial Statements and Supplementary Data.

Not Applicable.

Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure.

Not Applicable.

PART III

Item 10. Directors and Executive Officers of the Registrant.

Not Applicable.

Item 11. Executive Compensation.

Not Applicable.

Item 12. Security Ownership of Certain Beneficial Owners and Management.

Not Applicable.

Item 13. Certain Relationships and Related Transactions.

Not Applicable.

PART IV

Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.

Exhibits

99.1 Annualized Remittance Report.

99.2 Annual Report of Registrant's Independent Certified
Public Accountants as Required by Section 3.13(b) of
Oakwood Mortgage Investors, Inc.'s Standard Terms to
Pooling and Servicing Agreement (September 1994
Edition).

99.3 Servicer's Annual Compliance Statement as Required by
Section 3.13(a) of Oakwood Mortgage Investors, Inc.'s
Standard Terms to Pooling and Servicing Agreement
(September 1994 Edition)

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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-B, Registrant

By: OAKWOOD MORTGAGE INVESTORS, INC.,
as servicer

Dated: December 27, 1996 /s/ Douglas R. Muir
Douglas R. Muir
Vice President

INDEX OF EXHIBITS

Page of Sequentially
Numbered Pages

99.1 Annualized Remittance Report

99.2 Annual Report of Registrant's Independent Certified Public Accountants
as Required by Section 3.13(b) of the Registrant's Standard Terms to
Pooling and Servicing Agreement (September 1994
Edition)..........................................................__-__

99.3 Servicer's Annual Compliance Statement as Required by Section 3.13(a)
of Oakwood Mortgage Investors, Inc.'s Standard Terms to Pooling and
Servicing Agreement (September 1994 Edition)