EXHIBIT 20.1
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: JULY 5, 1996
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jul-96
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------
Beginning Ending Scheduled Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross Servicing Pass Thru Liquidation
Balance Principal Principal Principal Repurchased Balance Interest Fee Interest Proceeds
- ------------------------------------------------------------------------------------------------------------------------------------
215,662,295.02 525,363.62 (1,548,844.75) 0.00 0.00 213,588,086.65 2,010,689.36 179,718.58 1,830,970.78 0.00
====================================================================================================================================
Amount
Reserve Available for
Fund Draw Distribution
- --------------------------
0.00 4,084,897.73
===========================
Mezzanine Reserve Fund as of Cutoff Date
- --------------------------------------------------------------------------------
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- ---------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00 431,325.00 431,325.00 0.00
=================================================================================================================================
Reserve Fund Required Balance
- ---------------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------------
431,325.00 431,325.00
=======================================
Class B-1 Reserve Fund as of Cutoff Date
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- ------------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00 323,494.00 323,494.00 0.00
====================================================================================================================================
Reserve Fund Required Balance
- ---------------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------------
323,494.00 323,494.00
=======================================
Class B-2 Reserve Fund as of Cutoff Date
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- -----------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00 34,632.97 34,632.97 0.00
===================================================================================================================================
Reserve Fund Required Balance
- ---------------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------------
215,662.00 215,662.00
=======================================
Certificate Account
- --------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- --------------------------------------------------------------------------------
0.00 1,647,664.38 441,202.20 0.00 2,716.04 2,091,582.62
================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------
0.00 0.00 9,412.84 9,412.84
==========================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 5, 1996
REMITTANCE REPORT POOL REPORT #1
REPORTING MONTH: Jul-96 Page 2 of 6
Class B Crossover Test Test Met?
- ----------------------------------------------------------------- ---------------
(a) Remittance date on or after January 2001 N
(b) Average 60 day Delinquency rate (less than symbol)= 5% N
(c) Average 30 day Delinquency rate (less than symbol)= 7% N
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Aug. 1996 -Aug. 1997 4% N
Jan 2001 -Aug. 2002 7% N
Aug. 2002 - Jan. 2003 8% N
Jan, 2003 - 9% N
(e) Current realized loss ratio (less than symbol)= 2.75% Y
(f) Are class B principal balances plus Accelerated
Principal Distributions (greater than symbol) = 22.750%
of stated scheduled pool balance
Beginning B-1 balance 17,253,000.00
Beginning B-2 balance 10,783,295.00
Beginning Accelerated Principal Distribution 0.00
--------------------
28,036,295.00
Divided by beginning pool
balance 215,662,295.02
--------------------
13.000% N
====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 0.00 213,588,086.65 0.00%
1st Preceding Mo 0.00 0.00 0.00%
2nd Preceding Mo 0.00 0.00 0.00%
Divided by 3
-------------
0.00%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 999,968.22 213,588,086.65 0.47%
1st Preceding Mo 0.00 0.00 0.00%
2nd Preceding Mo 0.00 0.00 0.00%
Divided by 3
-------------
0.00%
=============
Cumulative loss ratio:
Cumulative losses 0.00
------------------------
Divided by Initial Certificate Principal 215,662,295.00 0.000%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 0.00 215,662,295.02
1st Preceding Mo 0.00 0.00
2nd Preceding Mo 0.00 0.00
0.000%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 5, 1996
REMITTANCE REPORT POOL REPORT # 1
REPORTING MONTH: Jul-96 Page 3 of 6
Delinquency Analysis
Active Repos
31 to 59 days 60 to 89 days 90 days and Over Total Delinq. Outstanding
No. of Principal Principal Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance # Balance # Balance
------------------------------------------------------------------------------------------------------------------
Excluding Repos 7,882 213,573,689.60 41 985,571.17 0 0.00 0 0.00 41 985,571.17 1 14,397.05
Repos 1 14,397.05 1 14,397.05 0 0.00 0 0.00 1 14,397.05
--------------------------------------------------------------------------------------------
Total 7,883 213,588,086.65 42 999,968.22 0 0.00 0 0.00 42 999,968.22
============================================================================================
0.5% 0.47%
==============================
Repossession Analysis
Reversal Current Month
(Redemption) Repos Cumulative Repos
Principal Principal Principal
# Balance # Balance # Balance
- ------------------------------------------------------------
0 0.00 1 14,397.05 1 14,397.05
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 5, 1996
REMITTANCE REPORT POOL REPORT # 1
REPORTING MONTH: Jul-96
Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated Net Net Current
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. Pass Thru Period Net Cumulative
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances 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
================================================================================================================
As a percentage of the aggregate cut-off date principal balance 0.00
===============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 5, 1996
REMITTANCE REPORT POOL REPORT # 1
REPORTING MONTH: Jul-96
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Accelerated Ending
Cert. Certificate Certificate Principal Principal Writedown Certificate
Class Balances Balances Payable Distribution Amounts Balances
- ------------------------------------------------------------------------------------------------------------------------------
A-1 45,290,000.00 45,290,000.00 (2,074,208.37) 0.00 0.00 43,215,791.63
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-2 35,585,000.00 35,585,000.00 0.00 0.00 0.00 35,585,000.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-3 32,350,000.00 32,350,000.00 0.00 0.00 0.00 32,350,000.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-4 22,642,000.00 22,642,000.00 0.00 0.00 0.00 22,642,000.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-5 32,350,000.00 32,350,000.00 0.00 0.00 0.00 32,350,000.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-6 19,409,000.00 19,409,000.00 0.00 0.00 0.00 19,409,000.00
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
B-1 17,253,000.00 17,253,000.00 0.00 0.00 0.00 17,253,000.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
B-2 10,783,295.00 10,783,295.00 0.00 0.00 0.00 10,783,295.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
-------------------------------------------------------------------------------------
215,662,295.00 215,662,295.00 (2,074,208.37) 0.00 0.00 213,588,086.63
=====================================================================================
Principal Paid
Cert. Pool Per $1,000
Class Factor Denomination
- ------------------------------- ----------------------------------------
A-1
A-1 Outstanding Writedown 95.42016% 45.80
0.00 0.00
A-2
A-2 Outstanding Writedown 100.00000% 0.00
0.00 0.00
A-3
A-3 Outstanding Writedown 100.00000% 0.00
0.00 0.00
A-4
A-4 Outstanding Writedown 100.00000% 0.00
0.00 0.00
A-5
A-5 Outstanding Writedown 100.00000% 0.00
0.00 0.00
A-6
A-6 Outstanding Writedown 100.00000% 0.00
0.00 0.00
B-1
B-1 Outstanding Writedown 100.00000% 0.00
0.00 0.00
B-2
B-2 Outstanding Writedown 100.00000% 0.00
0.00 0.00
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 5, 1996
REMITTANCE REPORT POOL REPORT # 1
REPORTING MONTH: Jul-96
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000 Cert.
Class Rate Balance Accrual Paid Shortfall Balance Denomination Class
-------------------------------------------------------------------------------------------------------
A-1 5.5475% 0.00 146,560.33 146,560.33 0.00 0.00 3.24 A-1
A-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-2 6.8000% 0.00 201,648.33 201,648.33 0.00 0.00 5.67 A-2
A-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-3 7.1000% 0.00 191,404.17 191,404.17 0.00 0.00 5.92 A-3
A-3 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-4 7.3500% 0.00 138,682.25 138,682.25 0.00 0.00 6.13 A-4
A-4 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-5 7.6500% 0.00 206,231.25 206,231.25 0.00 0.00 6.38 A-5
A-5 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-5 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-6 8.0000% 0.00 129,393.33 129,393.33 0.00 0.00 6.67 A-6
A-6 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A-6 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 8.3920% 0.00 120,655.98 120,655.98 0.00 0.00 6.99 B-1
B-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-2 9.6440% 0.00 86,661.75 86,661.75 0.00 0.00 8.04 B-2
B-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
X 0.00 609,733.39 609,733.39 0.00 0.00 X
Service Fee 0.00 179,718.58 0.00 0.00 179,718.58
---------------------------------------------------------------------
0.00 2,010,689.36 1,830,970.78 0.00 179,718.58
Mezzanine Reserve Fund Deposit 431,325.00
B-1 Reserve Fund 323,494.00
B-2 Reserve Fund 34,632.97
Certificate TOTAL
Class DISTRIBUTION
---------------------------------
2,220,768.70
A-1
A-1 Carryover Interest
A-1 Writedown Interest
201,648.33
A-2
A-2 Carryover Interest
A-2 Writedown Interest
191,404.17
A-3
A-3 Carryover Interest
A-3 Writedown Interest
138,682.25
A-4
A-4 Carryover Interest
A-4 Writedown Interest
206,231.25
A-5
A-5 Carryover Interest
A-5 Writedown Interest
129,393.33
A-6
A-6 Carryover Interest
A-6 Writedown Interest
120,655.98
B-1
B-1 Carryover Interest
B-1 Writedown Interest
86,661.75
B-2
B-2 Carryover Interest
B-2 Writedown Interest
609,733.39
X
0.00
Service Fee ---------------------
3,905,179.15
Mezzanine Reserve Fund Deposit 431,325.00
B-1 Reserve Fund 323,494.00
B-2 Reserve Fund 34,632.97