-----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, IcHnq+QOGbBjaEvzMz8n6JvfLvDRfgiKq5OqHp0bnQOlvD6ZUwlST1v5FEwh/2LE cP7GzQ3CuOTBMvv61a8K8Q== 0001021408-02-012617.txt : 20021017 0001021408-02-012617.hdr.sgml : 20021017 20021017102627 ACCESSION NUMBER: 0001021408-02-012617 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 SUBORDINATED PASS THROUGH CERTIFICATES SERIES 2002-C CENTRAL INDEX KEY: 0001183950 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NC FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-70496-04 FILM NUMBER: 02791036 BUSINESS ADDRESS: STREET 1: 7800 MCCLOUD ROAD CITY: GREENSBORO STATE: NC ZIP: 27409 BUSINESS PHONE: 3366642757 8-K 1 d8k.txt SERIES 2002-C 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-C ----------------------------------------------------------- (Exact name of registrant as specified in charter) North Carolina 333-70496-04 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-C 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-C (the "Trust"), the issuer of the Oakwood Mortgage Investors, Inc. Manufactured Housing Contract Senior/Subordinated Pass-Through Certificates, Series 2002-C (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-C, 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-C REPORT DATE: 10/07/02 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT #2 REMITTANCE REPORT Page 1 of 6 REPORTING MONTH: 30-Sep-2002 Scheduled Principal Balance of Contracts - ----------------------------------------------------------------------------------------------------------- Beginning Ending Principal Scheduled Prepaid Liquidated Principal Balance Principal Principal Principal Pre-Funding Balance - ----------------------------------------------------------------------------------------------------------- 168,903,594.03 (160,627.83) (1,423,618.94) 0.00 52,137,499.61 219,456,846.87 =========================================================================================================== Scheduled Scheduled Transfer from Amount Gross Servicing Pass Thru Liquidation Prefunding Unrecoverable Available for Interest Fee Interest Proceeds Account Advances Distribution - --------------------------------------------------------------------------------------------------------------------------- 1,943,750.25 140,753.00 1,802,997.25 0.00 0.39 0.00 3,527,997.41 =========================================================================================================================== Prefunding Account - ---------------------------------------------------------------------------------------- Beginning Distribution to Distribution to Ending balance Deposit Seller Certificateholders balance - ---------------------------------------------------------------------------------------- 52,137,500.00 0.00 (52,137,499.61) (0.39) 0.00 ======================================================================================== Certificate Account - ----------------------------------------------------------------------------------------------------------- Deposits Beginning ------------------------------- Investment Ending Balance Principal Interest Distributions Interest Balance - ----------------------------------------------------------------------------------------------------------- 650,458.38 2,517,582.61 1,599,707.17 (2,910,718.63) 675.38 1,857,704.91 =========================================================================================================== P&I Advances at Distribution Date ----------------------------------------------------------------------- Beginning (Recovered) Current Ending Balance (Advances) Advances Balance ----------------------------------------------------------------------- 0.00 0.00 33,644.79 33,644.79 =======================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/7/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT #2 REMITTANCE REPORT Page 2 of 6 REPORTING MONTH: 30-Sep-2002 Class B Crossover Test Test Met? - ------------------------------------------------------------------------------------- --------------------- (a) Distribution date on or after March 2007 N (b) Average 60 day Delinquency rate (less than or equal to) 7.0% #DIV/0! (c) Cumulative losses do not exceed the following percent of the intitial principal balance of all Certificates Distribution Date Mar 2006 - Aug 2008 8.50% NA Sep 2008 - Aug 2009 9.75% NA Sep 2009 - Feb 2012 12.75% NA Mar 2012 and thereafter 14.50% NA (d) Current realized loss ratio (less than or equal to) 4.00% Y (e) Does subordinated cert. percentage equal or exceed 62.700% of stated scheduled pool balance Beginning M balances 38,373,000.00 Beginning B balances 21,133,000.00 Overcollateralization 13,903,586.20 --------------------- 73,409,586.20 Divided by beginning pool balance 221,041,094.03 --------------------- 33.211% N ===================== Average 60 day delinquency ratio: Over 60s Pool Balance % ------------------------------------------------------------------ Current Mo 109,734.94 219,456,846.87 0.05% 1st Preceding Mo 0.00 168,903,594.03 0.00% 2nd Preceding Mo 0.00 0.00 #DIV/0! Divided by 3 ------------------ #DIV/0! ================== Cumulative loss ratio: Cumulative losses 0.00 ------------------------- Divided by Initial Certificate Principal 222,453,586.20 0.000% ================== Current realized loss ratio: Liquidation Pool Losses Balance ------------------------------------------------- Current Mo 0.00 168,903,594.03 1st Preceding Mo 0.00 170,316,086.20 2nd Preceding Mo 0.00 0.00 ------------------------------------------------- 0.00 113,073,226.74 0.000% ==================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/7/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT # 2 REMITTANCE REPORT Page 3 of 6 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 4,007 219,420,260.76 19 915,986.06 2 73,148.83 0 0.00 0 0.00 Repos 1 36,586.11 0 0.00 1 36,586.11 0 0.00 0 0.00 ----------------------------------------------------------------------------------------------- Total 4,008 219,456,846.87 19 915,986.06 3 109,734.94 0 0.00 0 0.00 =============================================================================================== Excluding Repos 90 days & Over: 0 0.00 ========================== ------------------------------------------------------------------------------ 150 to 179 days 180 to 209 days 210 days and Over Total Delinq. ------------------ ----------------- ------------------- ------------------ Principal Principal Principal Principal # Balance # Balance # Balance # Balance ------------------------------------------------------------------------------ Excluding Repos 0 0.00 0 0.00 0 0.00 21 989,134.89 Repos 0 0.00 0 0.00 0 0.00 1 36,586.11 ------------------------------------------------------------------------------ Total 0 0.00 0 0.00 0 0.00 22 1,025,721.00 ============================================================================== Repos 90 days & Over: 0 0.00 0.5% 0.47% ============= ================== Repossession Analysis ---------------------------------------------------------------------- Active Repos Reversal Current Month Outstanding (Redemption) Repos Cumulative Repos --------------------------------------------------------------------- Principal Principal Principal Principal # Balance # Balance # Balance # Balance ---------------------------------------------------------------------- 1 36,586.11 0 0.00 1 36,586.11 1 36,586.11
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT # 2 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 4 of 6 REPOSSESSION LIQUIDATION REPORT
Liquidated Net Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. FHA Insurance Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances Coverage - ---------------------------------------------------------------------------------------------------------------------- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 Pass Thru Period Net Cumulative 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
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT # 2 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 4 of 6 REPOSSESSION LIQUIDATION REPORT Liquidated Net Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. FHA Insurance Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances Coverage - ---------------------------------------------------------------------------------------------------------------------- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 Pass Thru Period Net Cumulative 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 =====================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT #2 REMITTANCE REPORT REPORTING MONTH: 30-Sep-2002 Page 5 of 6 CERTIFICATE PRINCIPAL ANALYSIS Beginning Ending Original Beginning Principal Current Current Principal Senior Certificate Certificate Shortfall Principal Principal Shortfall Certificates Balance Balance Carry-Over Due Paid Carry-Over ----------------------------------------------------------------------------- A-1 149,044,000.00 147,631,507.83 1,584,247.16 1,584,247.16 -- -- -- -- -- -- ----------------------------------------------------------------------------- Total Certificate Principal Balance 149,044,000.00 147,631,507.83 -- 1,584,247.16 1,584,247.16 -- ============================================================================= Beginning Ending Original Beginning Principal Current Current Principal Subordinate Certificate Certificate Shortfall Principal Principal Shortfall Certificates Balance Balance Carry-Over Due Paid Carry-Over ----------------------------------------------------------------------------- M-1 22,245,000.00 22,245,000.00 -- -- -- -- M-1 Outstanding Writedown -- M-2 16,128,000.00 16,128,000.00 -- -- -- -- M-2 Outstanding Writedown -- B-1 7,230,000.00 7,230,000.00 -- -- -- -- B-1 Outstanding Writedown -- B-2 13,903,000.00 13,903,000.00 -- -- -- -- B-2 Outstanding Writedown -- Excess Asset Principal Balance 13,903,586.20 13,903,586.20 -- -- -- -- ----------------------------------------------------------------------------- Total Excluding Writedown Balances 73,409,586.20 73,409,586.20 -- -- -- -- ============================================================================= All Certificates Excluding Writedown Balances 222,453,586.20 221,041,094.03 -- 1,584,247.16 1,584,247.16 -- ============================================================================= Accelerated Principal Ending Principal Paid Senior Distribution Certificate Pool Per $1,000 Certificates Amount Balance Factor Denomination -------------------------------------------------------- A-1 453,140.65 145,594,120.02 0.98 13.67 ---------------------------- Total Certificate Principal Balance 453,140.65 145,594,120.02 ============================ Accelerated Current Principal Ending Principal Paid Subordinate Writedown/ Distribution Certificate Pool Per $1,000 Certificates (Writeup) Amount Balance Factor Denomination -------------------------------------------------------------------- M-1 22,245,000.00 1.00 -- M-1 Outstanding Writedown -- -- M-2 16,128,000.00 1.00 -- M-2 Outstanding Writedown -- -- B-1 7,230,000.00 1.00 -- B-1 Outstanding Writedown -- -- B-2 13,903,000.00 1.00 -- B-2 Outstanding Writedown -- -- Excess Asset Principal Balance (453,140.65) 14,356,726.85 --------------------------------------- Total Excluding Writedown Balances -- (453,140.65) 73,862,726.85 ======================================= All Certificates Excluding Writedown Balances -- -- 219,456,846.87 =======================================
OAKWOOD MORTGAGE INVESTORS, INC. 2002-C REPORT DATE: 10/07/2002 OAKWOOD ACCEPTANCE CORPORATION, LLC - SERVICER POOL REPORT #2 REMITTANCE REPORT REPORTING MONTH 30-Sep-2002 Page 6 of 6 CERTIFICATE INTEREST ANALYSIS Beginning Ending Senior Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance --------------------------------------------------------------- A-1 5.41% - 665,572.05 665,572.05 - - - - - - - - - - - - - A-I0 6.00% - 278,000.00 278,000.00 - ---------------------------------------------------- Total - 943,572.05 943,572.05 - ==================================================== Interest Paid Per Senior $1,000 Total Class Certificates Denomination Distribution ---------------------------- A-1 4.47 2,702,959.86 #DIV/0! - #DIV/0! - #DIV/0! - A-I0 278,000.00 ------------- Total 2,980,959.86 ============= Beginning Ending Subordinate Carryover Interest Interest Carryover Certificates Coupon Balance Accrued Paid Balance --------------------------------------------------------------- M-1 6.89% - 127,723.38 127,723.38 - Writedown interest - - - - M-2 8.18% - 109,939.20 109,939.20 - Writedown interest - - - - Certificateholders Interest Carryover Amount - - - B-1 8.50% - 51,212.50 51,212.50 - Writedown interest - - - - Certificateholders Interest Carryover Amount - - - B-2 9.49% - 104,192.79 104,192.79 - Writedown interest - - - - Certificateholders Interest Carryover Amount - 5,756.77 5,756.77 - X - 453,140.65 - 453,140.65 R - - - - Service fee 1.00% - 140,753.00 140,753.00 - Current trustee fees 7,459.91 7,459.91 - ---------------------------------------------------- Total - 1,000,178.20 547,037.55 453,140.65 ==================================================== All Certificates - 1,943,750.25 1,490,609.60 453,140.65 ==================================================== Interest paid per Subordinate $1,000 Total Class Certificates denomination Distribution ---------------------------- M-1 5.74 127,723.38 Writedown interest M-2 Writedown interest 6.82 109,939.20 Certificateholders Interest Carryover Amount B-1 Writedown interest 7.08 51,212.50 Certificateholders Interest Carryover Amount B-2 Writedown interest 7.91 109,949.56 Certificateholders Interest Carryover Amount X - R - Service fee 140,753.00 Current trustee fees 7,459.91 --------------- Total 547,037.55 =============== All Certificates 3,527,997.41 3,527,997.41 =============== Cumulative X Interest Carryover 453,140.65 Cumulative Accelerated Prin. Disb. (453,140.65) --------------- Cumulative Losses 0.00 ===============
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