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) July 15, 1998.

                                OMI Trust 1997-D
               (Exact name of registrant as specified in charter)


         Pennsylvania               333-31441               23-7931974
  (State or other jurisdiction     (Commission            (IRS Employer
        of incorporation)          File Number)         Identification No.)

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

        Registrant's telephone number, including area code (215) 585-8872
 ------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)




                                OMI Trust 1997-D

                                    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  1997-D (the  "Trust"),  the issuer of the  Oakwood  Mortgage
Investors, Inc. Manufactured Housing Contract  Senior/Subordinated  Pass-Through
Certificates, Series 1997-D (the "Certificates"), makes monthly distributions to
holders of the Certificates.  The latest distribution was made on July 15, 1998.
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 July 15, 1998.

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 1997-D, Registrant

                          By:  Oakwood Acceptance Corporation,
                                as servicer


July 23, 1998                   /S/ DOUGLAS R. MUIR
                                -------------------
                                  Douglas R. Muir
                                  Vice President





                                INDEX OF EXHIBITS

                                                          Page of Sequentially
                                                                Numbered Pages
                                                          ---------------------

20.1     Monthly Remittance Report relating to Distribution
         Date occurring on July 15, 1998................................ 5-10