-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G0E6Hjsd7JBjJOQKNYah8DefsHAjsifr9wI+w8ZOjZK/uCiO+u9N66ISNo2JsLYb LeMng1xEF+/tuU4UTyUYgQ== 0001021408-02-012621.txt : 20021017 0001021408-02-012621.hdr.sgml : 20021017 20021017103328 ACCESSION NUMBER: 0001021408-02-012621 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021015 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SENIOR SUBORNATED PASS THROUGH CERTIFICATES SERIES 2002-B CENTRAL INDEX KEY: 0001175952 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31248 FILM NUMBER: 02791046 BUSINESS ADDRESS: STREET 1: 7800 MCCLOUD ROAD CITY: GREENSBORO STATE: NC ZIP: 27409 BUSINESS PHONE: 336-664-3578 MAIL ADDRESS: STREET 1: 7800 MCCLOUD ROAD CITY: GREENSBORO STATE: NC ZIP: 27409 8-K 1 d8k.txt SERIES 2002-B 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) October 15, 2002. ---------------- Senior Subordinated Pass Through Certificates Series 2002-B ----------------------------------------------------------- (Exact name of registrant as specified in charter) North Carolina 000-31248 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.) Senior Subordinated Pass Through Certificates Series 2002-B 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. Senior Subordinated Pass Through Certificates Series 2002-B (the "Trust"), the issuer of the Oakwood Mortgage Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2002-B (the "Certificates"), makes monthly distributions to holders of the Certificates. The latest distribution was made on October 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 October 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. SENIOR SUBORDINATED PASS THROUGH CERTIFICATES SERIES 2002-B, Registrant By: Oakwood Acceptance Corporation, LLC, as servicer October 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 October 15, 2002.................. EX-20.1 3 dex201.txt MONTHLY REMITTANCE REPORT
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/02 OAKWOOD ACCEPTANCE CORPORATION, LLC.- SERVICER POOL REPORT #5 REMITTANCE REPORT Page 1 of 7 REPORTING MONTH: 30-Sep-2002 Scheduled Principal Balance of Contracts - ----------------------------------------------------------------------------------------------------------------- Beginning Ending Principal Scheduled Prepaid Liquidated Principal Balance Principal Principal Principal Pre-Funding Balance - ----------------------------------------------------------------------------------------------------------------- 242,879,475.33 (391,086.80) (790,006.12) (24,921.69) 0.00 241,673,460.72 ================================================================================================================= Scheduled Scheduled Amount Gross Servicing Pass Thru Liquidation Unrecoverable Available for Interest Fee Interest Proceeds Advances Distribution - ----------------------------------------------------------------------------------------------------------------- 2,295,994.62 202,399.56 2,093,595.06 9,976.48 (54,336.53) 3,432,727.49 ================================================================================================================= Prefunding Account - ---------------------------------------------------------------------------------------------------- Beginning Distribution to Distribution to Ending balance Deposit Seller Certificateholders balance - ---------------------------------------------------------------------------------------------------- 0.00 0.00 0.00 0.00 0.00 ==================================================================================================== Certificate Account - --------------------------------------------------------------------------------------------------------------- Deposits Beginning ----------------------------------- Investment Ending Balance Principal Interest Distributions Interest Balance - --------------------------------------------------------------------------------------------------------------- 976,509.50 1,200,813.16 2,267,813.17 (3,762,428.70) 535.34 683,242.47 =============================================================================================================== P&I Advances at Distribution Date ------------------------------------------------------------------------- Beginning (Recovered) Current Ending Balance (Advances) Advances Balance ------------------------------------------------------------------------- 1,222,882.00 1,222,882.00 1,426,202.45 1,426,202.45 =========================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT #5 REMITTANCE REPORT Page 2 of 7 REPORTING MONTH: 30-Sep-2002 Class B Crossover Test Test Met? - ----------------------------------------------------------------------------------- ----------------------- (a) Distribution date on or after December 2006 N (b) Average 60 day Delinquency rate (less than) 7.0% Y (c) Cumulative losses do not exceed the following percent of the intitial principal balance of all Certificates Distribution Date Dec 2006 - May 2008 8.50% NA June 2008 - May 2009 9.75 NA June 2009 - Nov 2011 12.75% NA Dec 2011 and thereafter 14.50% NA (d) Current realized loss ratio (less than) 4.00% Y (e) Does subordinated cert. percentage equal or exceed 62.701% of stated scheduled pool balance Beginning M balances 42,324,000.00 Beginning B balances 26,141,000.00 Overcollateralization 16,080,484.99 ------------------- 84,545,484.99 Divided by beginning pool balance 242,879,475.33 ------------------- 34.810% N =================== Average 60 day delinquency ratio: Over 60s Pool Balance % ----------------------------------------------------- Current Mo 5,712,253.22 241,673,460.72 2.36% 1st Preceding Mo 3,588,092.12 242,879,475.33 1.48% 2nd Preceding Mo 1,600,107.43 244,331,523.17 0.65% Divided by 3 --------------- 1.50% =============== Cumulative loss ratio: Cumulative losses 14,945.21 ------------------ Divided by Initial Certificate Principal 248,966,403.22 0.006% Principal =============== Current realized loss ratio: Liquidation Pool Losses Balance ------------------------------------ Current Mo 14,945.21 242,879,475.33 1st Preceding Mo 0.00 244,331,523.17 2nd Preceding Mo 0.00 245,984,357.87 ------------------------------------ 14,945.21 244,398,452.12 0.024% ================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT #5 REMITTANCE REPORT Page 3 of 7 REPORTING MONTH: 30-Sep-2002 Delinquency Analysis - ------------------------------------------------------------------------------------------------------------------------------------ 31 to 59 days 60 to 89 days 90 to 119 days 120 to 149 days ---------------------- --------------------- -------------------- ------------------- No. of Principal Principal Principal Principal Principal Loans Balance # Balance # Balance # Balance # Balance -------------------------------------------------------------------------------------------------------------------- Excluding Repos 5,858 239,622,294.01 114 3,961,125.54 52 2,083,814.37 24 1,135,037.38 9 321,355.64 Repos 68 2,051,166.71 1 18,967.98 14 428,629.68 25 729,686.52 16 464,277.59 -------------------------------------------------------------------------------------------------------------------- Total 5,926 241,673,460.72 115 3,980,093.52 66 2,512,444.05 49 1,864,723.90 25 785,633.23 ==================================================================================================================== Excluding Repos 90 days & Over: 37 1,596,240.12 ===================== - ------------------------------------------------------------------------------------------------------------------------------------ 150 to 179 days 180 to 209 days 210 days and Over Total Delinq. ---------------------- --------------------- -------------------- ------------------- Principal Principal Principal Principal # Balance # Balance # Balance # Balance ----------------------------------------------------------------------------------------- Excluding Repos 4 139,847.10 0 0.00 0 0.00 203 7,641,180.03 Repos 11 399,994.12 1 9,610.82 0 0.00 68 2,051,166.71 --------------------------------------------------------------------------------------------- Total 15 539,841.22 1 9,610.82 0 0.00 271 9,692,346.74 ============================================================================================= Repos 90 days & Over: 53 1,603,569.05 4.6% 4.01% ====================== =================== Repossession Analysis ----------------------------------------------------------------------------------------- Active Repos Reversal Current Month Outstanding (Redemption) Repos Cumulative Repos ----------------------------------------------------------------------------------------- Principal Principal Principal Principal # Balance # Balance # Balance # Balance - ----------------------------------------------------------------------------------------------------------- 68 2,051,166.71 0 0.00 50 1,513,084.41 69 2,076,385.1
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT #5 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 4 of 7 REPOSSESSION LIQUIDATION REPORT Liquidated Account Customer Principal Sales Insur. Total Number Name Balance Proceeds Refunds Proceeds - ------------------------------------------------------------------------------------------------------------------------ 2592095 JOHN L MORRIS JR 24,921.69 22,900.00 0.00 22,900.00 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 Net Current Repossession Liquidation Unrecov. FHA Insurance Pass Thru Period Net Cumulative Expenses Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss) - --------------------------------------------------------------------------------------------------------------------------- 11,206.00 11,694.00 1,717.52 0.00 9,976.48 (14,945.21) 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 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
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT # 5 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 5 of 7 REPOSSESSION LIQUIDATION REPORT 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 ---------------------------------------------------------------------------------- 24,921.69 22,900.00 0.00 22,900.00 11,206.00 11,694.00 1,717.52 ================================================================================== Net Current FHA Insurance Pass Thru Period Net Cumulative 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 9,976.48 (14,945.21) (14,945.21) =====================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT #5 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 6 of 7 CERTIFICATE PRINCIPAL ANALYSIS Beginning Beginning Senior Original Certificate Certificate Principal Shortfall Current Principal Current Certificates Balance Balance Carry-Over Due Principal Paid ---------------------------------------------------------------------------------------------- A-1 62,300,000.00 53,827,990.34 1,206,014.61 1,206,014.61 A-2 50,200,000.00 50,200,000.00 - - A-3 22,500,000.00 22,500,000.00 - - A-4 31,806,000.00 31,806,000.00 - - ---------------------------------------------------------------------------------------------- Total Certificate Principal Balance 166,806,000.00 158,333,990.34 - 1,206,014.61 1,206,014.61 ============================================================================================== Beginning Beginning Subordinate Original Certificate Certificate Principal Shortfall Current Principal Current Certificates Balance Balance Carry-Over Due Principal Paid ---------------------------------------------------------------------------------------------- M-1 24,896,000.00 24,896,000.00 - - - M-1 Outstanding Writedown - M-2 17,428,000.00 17,428,000.00 - - - M-2 Outstanding Writedown - B-1 11,826,000.00 11,826,000.00 - - - B-1 Outstanding Writedown - B-2 14,315,000.00 14,315,000.00 - - - B-2 Outstanding Writedown - Excess Asset Principal Balance 13,695,403.22 16,080,484.99 ---------------------------------------------------------------------------------------------- Total Excluding Writedown Balances 82,160,403.22 84,545,484.99 - - - ============================================================================================== All Certificates Excluding Writedown Balances 248,966,403.22 242,879,475.33 - 1,206,014.61 1,206,014.61 ============================================================================================== Accelerated Ending Principal Principal Ending Principal Paid Senior Shortfall Carry- Distribution Certificate Per $1,000 Certificates Over Amount Balance Pool Factor Denomination ---------------- ------------------------------------------------------------- A-1 625,310.79 51,996,664.94 0.83 29.40 A-2 50,200,000.00 1.00 - A-3 22,500,000.00 1.00 - A-4 31,806,000.00 1.00 - ---------------- ---------------------------------- Total Certificate Principal Balance - 625,310.79 156,502,664.94 ================ ================================== Accelerated Subordinate Ending Principal Current Principal Ending Principal Paid Certificates Shortfall Carry- Writedown/ Distribution Certificate Per $1,000 Over (Writeup) Amount Balance Pool Factor Denomination ------------------------------------------------------------------- M-1 M-1 Outstanding Writedown - - 24,896,000.00 1.00 - - M-2 M-2 Outstanding Writedown - - 17,428,000.00 1.00 - - B-1 B-1 Outstanding Writedown - - 11,826,000.00 1.00 - - B-2 B-2 Outstanding Writedown - - 14,315,000.00 1.00 - - Excess Asset Principal Balance (625,310.79) 16,705,795.78 ------------------------------------------------------------------- Total Excluding Writedown Balances - - (625,310.79) 85,170,795.78 =================================================================== All Certificates Excluding Writedown Balances - - - 241,673,460.72 ===================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-B REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC. - SERVICER POOL REPORT # 5 REMITTANCE REPORT REPORTING MONTH 30-Sep-2002 Page 7 of 7 CERTIFICATE INTEREST ANALYSIS Beginning Ending Senior Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance ---------------------------------------------------------------------------------- A-1 2.05313% - 92,096.55 92,096.55 - A-2 5.19% - 217,115.00 217,115.00 - A-3 6.06% - 113,625.00 113,625.00 - A-4 7.09% - 187,920.45 187,920.45 - A-I0 6.00% - 296,500.00 296,500.00 - -------------------------------------------------------------------- Total - 907,257.00 907,257.00 - ==================================================================== Interest Paid Per Senior $1,000 Total Class Certificates Denomination Distribution -------------------------------- A-1 1.48 1,923,421.95 A-2 4.33 217,115.00 A-3 5.05 113,625.00 A-4 5.91 187,920.45 A-I0 296,500.00 ------------------ Total 2,738,582.40 ================== Beginning Ending Subordinate Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance ---------------------------------------------------------------------------- M-1 7.62% - 158,089.60 158,089.60 - Writedown interest - - - - M-2 8.50% - 123,448.33 123,448.33 - Writedown interest - - - - B-1 8.50% - 83,767.50 83,767.50 - Writedown interest - - - - B-2 9.70% - 115,712.92 115,712.92 - Writedown interest - - - - Certificateholders Interest Carryover Amount - - - - X 2,385,081.77 694,592.53 - 3,079,674.30 R - - - - Service fee 1.00% - 202,399.56 202,399.56 - Current trustee fees 10,727.18 10,727.18 - --------------------------------------------------------------- Total 2,385,081.77 1,388,737.62 694,145.09 3,079,674.30 =============================================================== All Certificates 2,385,081.77 2,295,994.62 1,601,402.09 3,079,674.30 =============================================================== Interest Paid Per Subordinate 1,000.00 Total Class Certificates Denomination Distribution ------------------------------------- M-1 6.35 158,089.60 Writedown interest M-2 7.08 123,448.33 Writedown interest B-1 7.08 83,767.50 Writedown interest B-2 8.08 115,712.92 Writedown interest Certificateholders Interest Carryover Amount X - R - Service fee 202,399.56 Current trustee fees 10,727.18 ------------------- Total 694,145.09 =================== All Certificates 3,432,727.49 =================== Cumulative X Interest Carryover 3,079,674.30 Cumulative Unrecoverable Advance (54,336.53) Cumulative Accelerated Prin. Disb. (3,010,392.56) -------------------- Cumulative Losses 14,945.21 ====================
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