OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: DECEMBER 4, 1996
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 5
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Nov-96
Scheduled Principal Balance of Contracts
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ------------------------------------------------------------------------------------------------------------------------------------
208,993,611.41 (531,187.99) (422,448.01) (141,853.58) 0.00 207,898,121.83
====================================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for
Interest Fee Interest Proceeds Fund Draw Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
1,945,811.07 174,161.34 1,771,649.73 99,311.10 0.00 2,998,758.17
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
433,072.87 0.00 -1,747.87 1,703.79 433,028.79 0.00 0.00 433,028.79 1,703.79
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
324,691.17 0.00 -1,197.17 1,277.22 324,771.22 0.00 0.00 324,771.22 1,277.22
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
215,009.46 0.00 0.00 802.97 215,812.43 0.00 0.00 215,812.43 150.43
===================================================================================================================================
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
- ---------------------------------------------------------------------------------------------------
911,799.05 1,065,159.38 1,809,404.66 (3,499,171.41) 3,069.41 290,261.09
===================================================================================================
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
1,081,040.21 1,058,145.90 1,236,156.75 1,259,051.06
================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: DECEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 5
Page 2 of 6
REPORTING MONTH: Nov-96
Class B Crossover Test Test Met?
- ----------------------------------------------------------------- ---------------
(a) Remittance date on or after January 2001 N
(b) Average 60 day Delinquency rate
(less than or equal to) 5% Y
(c) Average 30 day Delinquency rate
(less than or equal to) 7% Y
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Aug. 1996 -Aug. 1997 4% Y
Jan 2001 -Aug. 2002 7% N
Aug. 2002 - Jan. 2003 8% N
Jan, 2003 - 9% N
(e) Current realized loss ratio
(less than or equal to) 2.75% Y
(f) Are class B principal balances plus Accelerated
Principal Distributions
(greater than or equal to) 22.750%
of stated scheduled pool balance
Beginning B-1 balance 17,089,896.73
Beginning B-2 balance 10,681,353.85
Beginning Accelerated Principal Distribution 265,044.42
--------------------
28,036,295.00
Divided by beginning pool
balance 208,993,611.41
--------------------
13.415% N
====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 3,568,856.74 207,898,121.83 1.72%
1st Preceding Mo 2,258,631.27 208,993,611.41 1.08%
2nd Preceding Mo 1,164,456.45 210,529,114.69 0.55%
Divided by 3
-------------
1.12%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 6,751,830.44 207,898,121.83 3.25%
1st Preceding Mo 5,123,400.54 208,993,611.41 2.45%
2nd Preceding Mo 3,562,009.64 210,529,114.69 1.69%
Divided by 3
-------------
2.46%
=============
Cumulative loss ratio:
Cumulative losses 129,454.41
------------------------
Divided by Initial Certificate Principal 215,662,295.00 0.060%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 42,542.48 208,993,611.41
1st Preceding Mo 86,911.93 210,529,114.69
2nd Preceding Mo 0.00 211,989,400.40
0.246%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: DECEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 5
REPORTING MONTH: Nov-96 Page 3 of 6
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 7,661 206,504,021.41 114 3,057,649.92 42 1,424,376.36 30 875,703.74 186 5,357,730.02
Repos 55 1,394,100.42 7 125,323.78 16 431,767.30 32 837,009.34 55 1,394,100.42
---------------------------------------------------------------------------------------------------------------------
Total 7,716 207,898,121.83 121 3,182,973.70 58 1,856,143.66 62 1,712,713.08 241 6,751,830.44
====================================================================================================================
3.1% 3.25%
=======================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
---------------------------------------------------------------------------------------
55 1,394,100.42 0 0.00 30 701,113.01 73 1,708,222.77
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: DECEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 5
REPORTING MONTH: Nov-96
Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- -----------------------------------------------------------------------------------------------------------------------
002259-0 STARNES 11,265.02 3,600.00 0.00 3,600.00 0.00 3,600.00
009147-0 LOWERY 15,232.84 0.01 0.00 0.01 0.00 0.01
093096-6 JONES 22,271.92 20,700.00 437.28 21,137.28 898.00 20,239.28
093910-8 COBLE 35,716.70 37,300.00 421.08 37,721.08 4,312.50 33,408.58
094984-2 DEYARMON 17,825.59 17,700.00 1,456.87 19,156.87 2,221.00 16,935.87
095038-6 STEWARD 5,502.39 3,000.00 0.00 3,000.00 886.00 2,114.00
000959-7 PUGSLEY 4,621.95 2,700.00 0.00 2,700.00 0.00 2,700.00
088785-1 GONZALES 29,417.17 29,500.00 2,332.80 31,832.80 2,860.00 28,972.80
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
---------------------------------------------------------------------------------------------
141,853.58 114,500.01 4,648.03 119,148.04 11,177.50 107,970.54
=============================================================================================
Net Current
Unrecov. Pass Thru Period Net Cumulative
Advances Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------------------------------
922.56 2,677.44 (8,587.58)
1,202.00 (1,201.99) (16,434.83)
797.88 19,441.40 (2,830.52)
1,556.60 31,851.98 (3,864.72)
1,013.88 15,921.99 (1,903.60)
1,080.36 1,033.64 (4,468.75)
677.88 2,022.12 (2,599.83)
1,408.28 27,564.52 (1,852.65)
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
- ----------------------------------------------
8,659.44 99,311.10 (42,542.48) (129,454.41)
==============================================================
As a percentage of the aggregate
cut-off date principal balance 0%
=================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: DECEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 5
REPORTING MONTH: Nov-96
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Principal
Original Beginning Current Accelerated Ending Paid
Cert. Certificate Certificate Principal Principal Writedown Certificate Pool Per $1,000
Class Balances Balances Payable Distribution Amounts Balances Factor Denomination
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 45,290,000.00 38,621,316.39 (1,095,489.58) 0.00 0.00 37,525,826.81 82.85676% 24.19
A-1 Outstanding Writedown 0.00 0.00 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 35,585,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 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 32,350,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 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 22,642,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 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 32,350,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 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 19,409,000.00 100.00000% 0.00
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 17,253,000.00 17,089,896.73 0.00 (53,587.78) 0.00 17,036,308.95 98.74404% 3.11
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-2 10,783,295.00 10,681,353.85 0.00 (33,492.89) 0.00 10,647,860.96 98.74404% 3.11
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Excess Asset Principal
Balance 0.00 265,044.42 0.00 87,080.67 0.00 352,125.09
----------------------------------------------------------------------------------------
215,662,295.00 208,993,611.39 (1,095,489.58) 0.00 0.00 207,898,121.81
========================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: DECEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 5
REPORTING MONTH: Nov-96
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000
Class Rate Balance Accrual Paid Shortfall Balance Denomination
--------------------------------------------------------------------------------------------------------
A-1 5.48500% 0.00 176,531.60 176,531.60 0.00 0.00 4.57
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 6.80000% 0.00 201,648.33 201,648.33 0.00 0.00 5.67
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 7.10000% 0.00 191,404.17 191,404.17 0.00 0.00 5.92
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 7.35000% 0.00 138,682.25 138,682.25 0.00 0.00 6.13
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 7.65000% 0.00 206,231.25 206,231.25 0.00 0.00 6.38
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 8.00000% 0.00 129,393.33 129,393.33 0.00 0.00 6.67
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 8.39200% 0.00 119,515.34 119,515.34 0.00 0.00 6.99
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 9.64400% 0.00 85,842.48 85,842.48 0.00 0.00 8.04
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 86,911.93 435,320.31 392,777.83 42,542.48 129,454.41
Service Fee 0.00 174,161.34 174,161.34 0.00 0.00
-----------------------------------------------------------------
86,911.93 1,858,730.40 1,816,187.92 42,542.48 129,454.41
*Distribute "X" as follows:
Class "X" interest 0.00
B-2 Reserve Fund 0.00
-------------
0.00
=============
Cert. TOTAL
Class DISTRIBUTION
---------------------------------------
A-1 1,272,021.18
A-2 201,648.33
A-3 191,404.17
A-4 138,682.25
A-5 206,231.25
A-6 129,393.33
B-1 173,103.12
B-2 119,335.37
X 392,777.83
174,161.34
---------------
2,998,758.17