8-K 1 d8k.txt OMI TRUST 2001-E 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, 2002. ------------- Oakwood Mortgage Investors Inc OMI Trust 2001-E --------------------------------------------------- (Exact name of registrant as specified in charter) North Carolina 333-72621-09 applied for ------------------------------------------------------------------ (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) c/o JPMorgan Chase Attention: Craig 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 --------------- ================================================================================ (Former name or former address, if changed since last report.) OMI Trust 2001-E 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 2001-E (the "Trust"), the issuer of the Oakwood Mortgage Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2001-E (the "Certificates"), makes monthly distributions to holders of the Certificates. The latest distribution was made on July 15, 2002. Oakwood Acceptance Corporation, LLC, 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, 2002. 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 2001-E, Registrant By: Oakwood Acceptance Corporation, LLC, as servicer July 23, 2002 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, 2002 ........................................

Scheduled Principal Balance of Contracts ----------------------------------------------------------------------------------------------------------- Beginning Ending Scheduled Principal Scheduled Prepaid Liquidated Pre-Funding Principal Gross Balance Principal Principal Principal Balance Interest ----------------------------------------------------------------------------------------------------------------------------- 168,907,777.82 (129,610.88) (673,189.63) 0.00 0.00 168,104,977.31 1,520,167.78 ============================================================================================================================= ------------------------------------------------------------------------------------------------ Transfer Beginning Scheduled From Amount Principal Servicing Pass Thru Liquidation Prefunding Available for Balance Fee Interest Proceeds Account Distribution ------------------------------------------------------------------------------------------------ 168,907,777.82 140,756.48 1,379,411.30 0.00 0.00 2,322,968.29 ================================================================================================

Certificate Account ----------------------------------------------------------------------------------------------------- Beginning Deposits Investment Ending ------------------------- Balance Principal Interest Distributions Interest Balance ----------------------------------------------------------------------------------------------------- 1,130,492.37 793,739.41 1,527,421.96 (2,705,261.94) 585.24 746,977.04 =====================================================================================================

P&I Advances at Distribution Date ------------------------------------------------------------------- Beginning (Recovered) Current Ending Balance (Advances) Advances Balance ------------------------------------------------------------------- 337,286.01 337,286.01 400,044.21 400,044.21 ===================================================================

OAKWOOD MORTGAGE INVESTORS, INC. 2001-E REPORT DATE: 03/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT # 4 REMITTANCE REPORT Page 2 of 6 REPORTING MONTH: 28-Feb-2002 Class B Crossover Test Test Met? ------------------------------------------------ ----------- (a) Distribution date on or after June 2006 N (b) Average 60 day Delinquency rate * 6.5% Y (c) Cumulative losses do not exceed the following percent of the intitial principal balance of all Certificates Distribution Date ------------------------------ Jun 2006 - Dec 2007 8.00% NA Jan 2008 - Dec 2008 9.00% NA Jan 2009 - Jun 2011 11.75% NA July 2011 and thereafter 13.75% NA (d) Current realized loss ratio * 3.50% Y (e) Does subordinated cert. percentage equal or exceed 57.000% of stated scheduled pool balance Beginning M balances 29,261,000.00 Beginning B balances 15,491,000.00 Overcollateralization 7,541,621.69 -------------- 52,293,621.69 Divided by beginning pool balance 168,907,777.82 -------------- 30.960% N ============== Average 60 day delinquency ratio: Over 60s Pool Balance % ---------------------------------------------------- Current Mo 2,277,200.33 168,104,977.31 1.35% 1st Preceding Mo 1,352,301.36 168,907,777.82 0.80% 2nd Preceding Mo 587,735.46 170,081,977.07 0.35% Divided by 3 ------ 0.83% ====== Cumulative loss ratio: Cumulative losses 0.00 --------------- Divided by Initial Certificate Principal 172,124,908.34 0.000% ====== Current realized loss ratio: Liquidation Pool Losses Balance ------------------------------------- Current Mo 0.00 168,907,777.82 1st Preceding Mo 0.00 170,081,977.07 2nd Preceding Mo 0.00 129,830,303.00 ------------------------------------- 0.00 156,273,352.63 0.000% ======

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 --------------------------------------------------------------------------------------------------------------------- Excluding Repos 3,249 168,075,898.31 45 1,900,071.20 27 1,022,516.17 36 1,225,605.16 108 4,148,192.53 Repos 1 29,079.00 0 0.00 0 0.00 1 29,079.00 1 29,079.00 --------------------------------------------------------------------------------------------------------------------- Total 3,250 168,104,977.31 45 1,900,071.20 27 1,022,516.17 37 1,254,684.16 109 4,177,271.53 ===================================================================================================================== 3.4% 2.48% ======================= Repossession Analysis ------------------------------------------------------------------------------ Active Repos Reversal Current Month Outstanding (Redemption) Repos Cumulative Repos ------------------------------------------------------------------------------ Principal Principal Principal Principal # Balance # Balance # Balance # Balance ------------------------------------------------------------------------------ Excluding Repos 1 29,079.00 0 0.00 0 0.00 1 29,079.00 Repos Total

Liquidated Net Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances ------------------------------------------------------------------------------------------------------------------------- 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 Net Current Account FHA Insurance Pass Thru Period Net Cumulative Number Coverage Proceeds Gain/(Loss) Gain/(Loss) ------------------------------------------------------------------------------- 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

Liquidated Net Account Customer Principal Sales Insur. Total Repossession Liquidation Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds ------------------------------------------------------------------------------------------------------------------------------------ 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 ==================================================================================================== Net Current Account Unrecov. FHA Insurance Pass Thru Period Net Cumulative Number Advances Coverage Proceeds Gain/(Loss) Gain/(Loss) ---------------------------------------------------------------------------------------------------------------- 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 ============================================================================================

PRINCIPAL Beginning Beginning Senior Original Certificate Certificate Principal Shortfall Current Principal Current Certificates Balance Balance Carry-Over Due Principal Paid --------------------------------------------------------------------------------------------- A-1 39,400,000.00 35,527,156.13 802,800.51 802,800.51 A-2 34,300,000.00 34,300,000.00 0.00 0.00 A-3 10,500,000.00 10,500,000.00 0.00 0.00 A-4 36,287,000.00 36,287,000.00 0.00 0.00 --------------------------------------------------------------------------------------------- Total Certificate Principal Balance 120,487,000.00 116,614,156.13 0.00 802,800.51 802,800.51 ============================================================================================= Accelerated Ending Principal Principal Ending Principal Paid Senior Shortfall Carry- Distribution Certificate Per $1,000 Certificates Over Amount Balance Pool Factor Denomination ------------------- ------------------------------------------------------------ A-1 326,146.92 34,398,208.70 87.30510% 28.65349 A-2 34,300,000.00 100.00000% 0.00000 A-3 10,500,000.00 100.00000% 0.00000 A-4 36,287,000.00 100.00000% 0.00000 ------------------- ---------------------------------- Total Certificate Principal Balance 0.00 326,146.92 115,485,208.70 =================== ================================== Beginning Beginning Subordinate Original Certificate Certificate Principal Shortfall Current Principal Current Certificates Balance Balance Carry-Over Due Principal Paid --------------------------------------------------------------------------------------------- M-1 16,352,000.00 16,352,000.00 0.00 0.00 0.00 M-1 Outstanding Writedown 0.00 M-2 12,909,000.00 12,909,000.00 0.00 0.00 0.00 M-2 Outstanding Writedown 0.00 B-1 9,467,000.00 9,467,000.00 0.00 0.00 0.00 B-1 Outstanding Writedown 0.00 B-2 6,024,000.00 6,024,000.00 0.00 0.00 0.00 B-2 Outstanding Writedown 0.00 Excess Asset Principal Balance 6,885,908.34 7,541,621.69 --------------------------------------------------------------------------------------------- Total Excluding Writedown Balances 51,637,908.34 52,293,621.69 0.00 0.00 0.00 ============================================================================================= All Certificates Excluding Writedown Balances 172,124,908.34 168,907,777.82 0.00 802,800.51 802,800.51 ============================================================================================= Accelerated Ending Principal Current Principal Ending Principal Paid Shortfall Carry- Writedown/ Distribution Certificate Per $1,000 Over (Writeup) Amount Balance Pool Factor Denomination ------------------------------------------------------------ M-1 0.00 16,352,000.00 100.00000% 0.00000 M-1 Outstanding Writedown 0.00 0.00 M-2 0.00 12,909,000.00 100.00000% 0.00000 M-2 Outstanding Writedown 0.00 0.00 B-1 0.00 9,467,000.00 100.00000% 0.00000 B-1 Outstanding Writedown 0.00 0.00 B-2 0.00 6,024,000.00 100.00000% 0.00000 B-2 Outstanding Writedown 0.00 0.00 Excess Asset Principal Balance (326,146.92) 7,867,768.61 ------------------------------------------------------------- Total Excluding Writedown Balances 0.00 0.00 (326,146.92) 52,619,768.61 ============================================================= All Certificates Excluding Writedown Balances 0.00 0.00 0.00 168,104,977.31 =============================================================

Beginning Ending Senior Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance ------------------------------------------------------------------------- A-1 2.14750% 0.00 59,340.22 59,340.22 0.00 A-2 5.05% 0.00 144,345.83 144,345.83 0.00 A-3 5.69% 0.00 49,787.50 49,787.50 0.00 A-4 6.81% 0.00 205,928.73 205,928.73 0.00 A-I0 6.00% 0.00 281,000.00 281,000.00 0.00 ------------------------------------------------------------- Total 0.00 740,402.28 740,402.28 0.00 ============================================================= Beginning Ending Subordinate Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance ------------------------------------------------------------------------- M-1 7.56% 0.00 103,017.60 103,017.60 0.00 Writedown interest 0.00 0.00 0.00 0.00 Certificateholders Interest Carryover Amount 0.00 0.00 0.00 0.00 M-2 8.76% 0.00 83,678.61 83,678.61 0.00 Writedown interest 0.00 0.00 0.00 0.00 Certificateholders Interest Carryover Amount 0.00 10,557.09 10,557.09 0.00 B-1 7.50% 0.00 59,168.75 59,168.75 0.00 Writedown interest 0.00 0.00 0.00 0.00 B-2 10.50% 0.00 39,048.72 39,048.72 0.00 Writedown interest 0.00 0.00 0.00 0.00 Certificateholders Interest Carryover Amount 0.00 13,661.28 13,661.28 0.00 X 655,713.35 326,146.92 0.00 981,860.27 R 0.00 0.00 0.00 0.00 Service fee 1.0000% 0.00 140,756.48 140,756.48 0.00 Current trustee fees 3,730.05 3,730.05 0.00 ------------------------------------------------------------- Total 655,713.35 779,765.50 453,618.58 981,860.27 ============================================================= All Certificates 655,713.35 1,520,167.78 1,194,020.86 981,860.27 ============================================================= Interest Paid Per Senior $1,000 Total Class Certificates Denomination Distribution ------------------------------- A-1 1.50610 1,188,287.65 A-2 4.20833 144,345.83 A-3 4.74167 49,787.50 A-4 5.67500 205,928.73 A-I0 281,000.00 Total 1,869,349.71 Interest Paid Per Subordinate $1,000 Total Class Certificates Denomination Distribution ------------------------------- M-1 6.30000 103,017.60 Writedown interest Certificateholders Interest Carryover Amount M-2 7.30000 94,235.70 Writedown interest Certificateholders Interest Carryover Amount B-1 6.25000 59,168.75 Writedown interest B-2 8.75000 52,710.00 Writedown interest Certificateholders Interest Carryover Amount X 0.00 R 0.00 Service fee 140,756.48 Current trustee fees 3,730.05 -------------- Total 453,618.58 ============== All Certificates 2,322,968.29 ============== Cumulative X Interest Carryover 981,860.27 Cumulative Accelerated Prin. Disb. (981,860.27) -------------- Cumulative Losses (0.00) ==============

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