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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, 2001
-----------------------------
or
[_] 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 333-31441-09
---------------
Oakwood Mortgage Investors, Inc, OMI TRUST 2001-D
- -------------------------------------------------
(Exact name of registrant as specified in its charter)
North Carolina 13-4195735
- -------------------------------- -----------------------
State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization
c/o J P Morgan Chase & Co.
Attention: Craig M Kantor
450 West 33/rd/ Street, 14/th/ floor New York, NY 10001
------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 946-3651
-------------------
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 2001-D
Oakwood Mortgage Investors, Inc.
Manufactured Housing Contract Senior/Subordinated
Pass-Through Certificates, Series 2001-D
FORM 10-K
INDEX
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 1. Market for Registrant's Common Equity and Related
Stockholder Matters
Item 2. Selected Financial Data
Item 3. Management's Discussion and Analysis of Financial Condition
and Results of Operations
Item 4. Financial Statements and Supplementary Data
Item 5. Changes In and Disagreements With Accountants on Accounting
and Financial Disclosure
PART III.
Item 1. Directors and Executive Officers of the Registrant
Item 2. Executive Compensation
Item 3. Security Ownership of Certain Beneficial Owners and
Management
Item 4. Certain Relationships and Related Transactions
PART IV.
Item 1. 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 39
----
holders of the Registrant's Series 2001-D Manufactured Housing Contract
Senior/Subordinated Pass-Through Certificates, Class A-1, Class A-2, Class A-3,
Class A-4, Class A-I0, Class M-1, Class M-2, Class B-1, 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 (May 1999 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 (May 1999
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 2001-D, Registrant
By: OAKWOOD ACCEPTANCE CORPORATION, LLC
as servicer
Dated: December 21, 2001 /s/ Derek M Surette
------------------------------
Derek M Surette
Vice President/ Controller
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 Oakwood Mortgage
Investors, Inc.'s Standard Terms to Pooling and Servicing Agreement
(May 1999 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 (May 1999 Edition)
OAKWOOD MORTGAGE INVESTORS, INC 2001-D Note: This fiscal year-end series report, reports information on the
Oakwood Acceptance Corp. - Servicer assets included in OMI Trust 2001-D as of the end of the prepayment
Fiscal Year Ended Series Report period that began on August 1, 2001 and ended on September 30, 2001
Reporting: Fiscal Year 2001 and as of the end of the collection period that began on August 2,
2001 and ended on October 1, 2001. Accordingly, the information
presented with regard to the certificates reflects information as of
the close of business on October 15, 2001, which is the distribution
date on which collections made and losses incurred during such
prepayment period and collection period were passed through to
certificateholders
Scheduled Principal Balance of Contracts
----------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Pre-Funding Principal
Balance Principal Principal Principal Balance
-------------------------------------------------------------------------------------------------------------------------------
171,588,483.20 (253,978.49) (2,784,305.23) 0.00 0.00 168,550,199.48
===============================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Reserve Fund
Interest Fee Interest Proceeds Fund Draw Distribution Draw
-------------------------------------------------------------------------------------------------------------------------------
3,209,103.27 284,289.46 2,924,813.81 0.00 0.00 6,247,386.99 0.00
===============================================================================================================================
Total
Distribution
------------------------------
6,247,386.99
==============================
Certificate Account
-------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
-------------------------------------------------------------------------------------------------------------------------------
0.00 1,515,718.93 3,082,830.88 (3,602,990.92) 1,402.36 996,961.25
===============================================================================================================================
P&I Advances at Distribution Date
---------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
---------------------------------------------------------------------------
0.00 (63,674.11) 406,514.76 342,840.65
===========================================================================
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 2001
Gross Repossessions Repo Properties Brought Net Current Repos
Current by Borrower
# Principal Balance # Principal Balance # Principal Balance
----------------------------------------------------------------------------------------------
Aug-01 0 0.00 0 0.00 0 0.00
Sep-01 1 24,869.00 0 0.00 1 24,869.00
----------------------------------------------------------------------------------------------
Total of month
end balance 1 24,869.00 0 0.00 1 24,869.00
==============================================================================================
Average month
end balance 1 12435 0 0 1 12435
==============================================================================================
Aggregate Repo Properties in
Trust at Month-End
# Principal Balance
--------------------------------
Aug-01 0 0.00
Sep-01 1 24,869.00
--------------------------------
Total of month
end balance 1 24,869.00
================================
Average month
end balance 0 12435
================================
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 2001
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over Total Delinq.
No. of Principal No. of Principal No. of Principal No. of Principal
Loans Balance Loans Balance Loans Balance Loans Balance
-------------------------------------------------------------------------------------------------------------
Aug-01 42 1,263,731.96 0 0.00 0 0.00 42 1,263,731.96
Sep-01 88 3,238,663.05 21 601,374.18 0 0.00 109 3,840,037.23
-------------------------------------------------------------------------------------------------------------
Total of month
end balance 130 4,502,395.01 21 601,374.18 0 0.00 151 5,103,769.19
=============================================================================================================
Average month
end balance 65 2251198 11 300687 0 0 76 2551885
=============================================================================================================
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 2001
REPOSSESSION LIQUIDATION REPORT
See Monthly Investor Report for Detail
Net Net Current
Prepayment Liquidated Sales Insur. Total Repossession Liquidation Unrecov. FHA Insurance Pass Period Cumulative
Principal Thru Net
Period Balance Proceeds Refunds Proceeds Expenses Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------------------------------------------------------------------------------------------
Aug-01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Sep-01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------------------------------------------
Total 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
========================================================================================================================
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 2001
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current Accelerated
Certificate Certificate Certificate Principal Shortfall Principal Principal Principal
Class Balances Balances Carry-Over Due Paid Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 53,140,000.00 53,140,000.00 0.00 3,038,283.72 3,038,283.72 102,988.65
A-1 Outstanding Writedown 0.00
A-2 45,190,000.00 45,190,000.00 0.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00
A-3 20,340,000.00 20,340,000.00 0.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00
A-4 39,076,000.00 39,076,000.00 0.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00
M-1 19,155,000.00 19,155,000.00 0.00 0.00 0.00 0.00
M-1 Outstanding Writedown 0.00
M-2 15,775,000.00 15,775,000.00 0.00 0.00 0.00 0.00
M-2 Outstanding Writedown 0.00
B-1 11,268,000.00 11,268,000.00 0.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00
B-2 11,268,000.00 11,268,000.00 0.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00
Excess Asset Principal Balance 10,148,483.20 10,148,483.20 0.00 0.00 0.00 (102,988.65)
-------------------------------------------------------------------------------------
225,360,483.20 225,360,483.20 0.00 3,038,283.72 3,038,283.72 0.00
====================================================================================
PRINCIPAL
Ending Principal Ending Principal Paid
Certificate Shortfall Carry- Writedown Certificate Pool Per $1,000
Class Over Amounts Balances Factor Denomination
- ----------------------------------------------------------------------------------------------------------------------------------
A-1 0.00 0.00 49,998,727.63 94.08869% 59.11314
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 0.00 45,190,000.00 100.00000% 0.00000
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 0.00 20,340,000.00 100.00000% 0.00000
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 0.00 39,076,000.00 100.00000% 0.00000
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
M-1 0.00 0.00 19,155,000.00 100.00000% 0.00000
M-1 Outstanding Writedown 0.00 0.00 0.00 0.00
M-2 0.00 0.00 15,775,000.00 100.00000% 0.00000
M-2 Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 0.00 11,268,000.00 100.00000% 0.00000
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 0.00 11,268,000.00 100.00000% 0.00000
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 0.00 10,251,471.85
------------------------------------------------------------------------
0.00 0.00 222,322,199.48 7.94
========================================================================
(1) This represents the amount of losses on the
assets that were allocated to reduce the
outstanding principal balance of the certificates
in accordance with the applicable pooling and
servicing agreement.
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 2001
CERTIFICATE INTEREST ANALYSIS
Beginning Carry- Current Priority
Certificate Pass-Through Over Priority Interest Total
Class Rate Interest Balance Accrual Paid
--------------------------------------------------------------------------------------------
A-1 3.73000% 0.00 242,863.49 242,863.49
A-1 Carryover Interest 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00
A-2 5.26000% 0.00 396,165.66 396,165.66
A-2 Carryover Interest 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00
A-3 5.90000% 0.00 200,010.00 200,010.00
A-3 Carryover Interest 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00
A-4 6.93000% 0.00 451,327.80 451,327.80
A-4 Carryover Interest 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00
A-I0 6.00000% 0.00 750,000.00 750,000.00
A-I0 Carryover Interest 0.00 0.00 0.00
A-I0 Writedown Interest 0.00 0.00 0.00
M-1 7.38000% 0.00 235,606.50 235,606.50
M-1 Carryover Interest 0.00 0.00 0.00
M-1 Writedown Interest 0.00 0.00 0.00
M-2 8.29000% 0.00 217,957.92 217,957.92
M-2 Carryover Interest 0.00 0.00 0.00
M-2 Writedown Interest 0.00 0.00 0.00
B-1 8.57000% 0.00 160,944.60 160,944.60
B-1 Carryover Interest 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00
B-2 8.50000% 0.00 159,630.00 159,630.00
B-2 Carryover Interest 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00
X 52,516.12 102,988.65 0.00
R 0.00 0.00 0.00
Service Fee 1.00000% 0.00 284,289.46 284,289.46(1)
Current Trustee Fees 7,319.19 7,319.19
-----------------------------------------------------------
52,516.12 3,209,103.27 3,106,114.62
===========================================================
CERTIFICATE INTEREST ANALYSIS
Ending Carry-Over Interest Paid
Certificate Priority Interest Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
----------------------------------------------------------------------------
A-1 0.00 4.57026 A-1 3,384,135.86
A-1 Carryover Interest 0.00
A-1 Writedown Interest 0.00
A-2 0.00 8.76667 A-2 396,165.66
A-2 Carryover Interest 0.00
A-2 Writedown Interest 0.00
A-3 0.00 9.83333 A-3 200,010.00
A-3 Carryover Interest 0.00
A-3 Writedown Interest 0.00
A-4 0.00 11.55000 A-4 451,327.80
A-4 Carryover Interest 0.00
A-4 Writedown Interest 0.00
A-I0 0.00 A-I0 750,000.00
A-I0 Carryover Interest 0.00
A-I0 Writedown Interest 0.00
M-1 0.00 12.30000 M-1 235,606.50
M-1 Carryover Interest 0.00
M-1 Writedown Interest 0.00
M-2 0.00 13.81667 M-2 217,957.92
M-2 Carryover Interest 0.00
M-2 Writedown Interest 0.00
B-1 0.00 14.28333 B-1 160,944.60
B-1 Carryover Interest 0.00
B-1 Writedown Interest 0.00
B-2 0.00 14.16667 B-2 159,630.00
B-2 Carryover Interest 0.00
B-2 Writedown Interest 0.00
155,504.77 X 0.00
X
R 0.00 R 0.00
Service Fee 0.00 284,289.46
Current Trustee Fees 7,319.19
----------------- --------------------
155,504.77 6,247,386.99(1)
================= ====================
(1) Pursuant to the applicable pooling and servicing agreement, $284,289.46 of
the amounts available for distribution on distribution dates during the fiscal
year were used to pay servicing fees due the servicer. Consequently, the total
amount distributed on the certificates during the fiscal year was $5,963,097.53