OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: NOVEMBER 4, 1996
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Oct-96
Scheduled Principal Balance of Contracts
- -----------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- --------------------------------------------------------------------------------------------------------------------------
210,529,114.69 (530,278.05) (811,947.83) (193,277.40) 0.00 208,993,611.41 1,960,782.29
==========================================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for
Fee Interest Proceeds Fund Draw Distribution
- ----------------------------------------------------------------------------------------
175,440.93 1,785,341.36 106,365.47 0.00 3,409,373.64
===============================================================================================
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
- ---------------------------------------------------------------------------------------------------------------------------------
433,019.67 0.00 -1,694.67 1,747.87 433,072.87 0.00 0.00 433,072.87 1,747.87
=================================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
324,901.08 0.00 -1,407.08 1,197.17 324,691.17 0.00 0.00 324,691.17 1,197.17
===================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
215,662.00 0.00 -1,407.08 754.54 215,009.46 0.00 0.00 215,009.46 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
- ----------------------------------------------------------------------------------------------------------------------
962,326.24 1,493,521.57 1,892,314.99 (3,439,249.59) 2,885.84 911,799.05
======================================================================================================================
P&I Advances at Distribution Date
- ------------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ------------------------------------------------------------------------------------
1,107,169.19 1,088,210.33 1,062,081.35 1,081,040.21
====================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: NOVEMBER 4, 1996
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT
REPORTING MONTH: Oct-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 <= 5% Y
(c) Average 30 day Delinquency rate <= 7% Y
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Average 30 day delinquency ratio:
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 <= 2.75% Y
(f) Are class B principal balances plus Accelerated
Principal Distributions > = 22.750%
of stated scheduled pool balance
Beginning B-1 balance 17,143,878.22
Beginning B-2 balance 10,715,092.82
Beginning Accelerated Principal Distribution 177,323.96
-------------------
28,036,295.00
Divided by beginning pool
balance 210,529,114.69
-------------------
13.317% N
===================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-----------------------------------------------------
Current Mo 2,258,631.27 208,993,611.41 1.08%
1st Preceding Mo 1,164,456.45 210,529,114.69 0.55%
2nd Preceding Mo 605,558.95 211,989,400.40 0.29%
Divided by 3
-------------
0.64%
=============
Over 30s Pool Balance %
-----------------------------------------------------
Current Mo 5,123,400.54 208,993,611.41 2.45%
1st Preceding Mo 3,562,009.64 210,529,114.69 1.69%
2nd Preceding Mo 2,581,813.03 211,989,400.40 1.22%
Divided by 3
-------------
1.79%
=============
Cumulative loss ratio:
Cumulative losses 86,911.93
-------------------
Divided by Initial Certificate Principal 215,662,295.00 0.040%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
----------------------------------------
Current Mo 86,911.93 210,529,114.69
1st Preceding Mo 0.00 211,989,400.40
2nd Preceding Mo 0.00 213,588,086.65
0.164%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: NOVEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 4
REPORTING MONTH: Oct-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 7,716 208,155,937.97 97 2,692,475.77 37 1,090,975.05 17 502,276.28 151 4,285,727.10
Repos 33 837,673.44 6 172,293.50 13 293,836.44 14 371,543.50 33 837,673.44
-----------------------------------------------------------------------------------------------------------------
Total 7,749 208,993,611.41 103 2,864,769.27 50 1,384,811.49 31 873,819.78 184 5,123,400.54
======================================================================================================================
2.4% 2.45%
=======================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- -----------------------------------------------------------------------------------
33 837,673.44 0 0.00 22 469,188.78 43 1,007,109.76
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: NOVEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 4
REPORTING MONTH: Oct-96
Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov.
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
- ---------------------------------------------------------------------------------------------------------------------------------
001304-5 HALL 7,937.23 1,500.00 0.00 1,500.00 0.00 1,500.00 519.72
002786-2 MESSER 10,178.73 3,700.00 0.00 3,700.00 0.00 3,700.00 599.97
002296-2 PEREZ 5,280.90 3,000.00 0.00 3,000.00 0.00 3,000.00 713.37
003099-9 BLUE 13,835.29 900.00 0.00 900.00 0.00 900.00 815.46
087431-3 BAUGH 34,096.32 29,900.00 0.00 29,900.00 3,870.30 26,029.70 1,080.69
088660-6 DOWTY 29,376.94 28,300.00 2,245.86 30,545.86 4,554.35 25,991.51 931.11
089091-3 STEPHENS 29,463.60 28,700.00 486.64 29,186.64 2,961.25 26,225.39 1,366.86
089410-5 ALLINGHAM 14,220.28 2,060.00 103.71 2,163.71 0.00 2,163.71 744.42
090061-3 ALDRIDGE 23,540.37 22,500.00 1,770.59 24,270.59 3,498.39 20,772.20 913.47
094123-7 JARMON 25,347.74 5,500.00 0.00 5,500.00 550.00 4,950.00 1,181.97
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
---------------------------------------------------------------------------------------------------
193,277.40 126,060.00 4,606.80 130,666.80 15,434.29 115,232.51 8,867.04
===================================================================================================
Net Current
Pass Thru Period Net Cumulative
Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------
980.28 (6,956.95)
3,100.03 (7,078.70)
2,286.63 (2,994.27)
84.54 (13,750.75)
24,949.01 (9,147.31)
25,060.40 (4,316.54)
24,858.53 (4,605.07)
1,419.29 (12,800.99)
19,858.73 (3,681.64)
3,768.03 (21,579.71)
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
- -------------------------
106,365.47 (86,911.93) (86,911.93)
==============================================
As a percentage of the
aggregate cut-off date
principal balance 0%
================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: NOVEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 4
REPORTING MONTH: Oct-96
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Accelerated
Cert. Certificate Certificate Principal Principal Writedown
Class Balances Balances Payable Distribution Amounts
- -----------------------------------------------------------------------------------------------------------------------
A-1 45,290,000.00 40,156,819.67 (1,535,503.28) 0.00 0.00
A-1 Outstanding Writedown 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
A-2 Outstanding Writedown 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
A-3 Outstanding Writedown 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
A-4 Outstanding Writedown 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
A-5 Outstanding Writedown 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
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00
B-1 17,253,000.00 17,143,878.22 0.00 (53,981.49) 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00
B-2 10,783,295.00 10,715,092.82 0.00 (33,738.97) 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 177,323.96 0.00 87,720.46 0.00
--------------------------------------------------------------------------------------
215,662,295.00 210,529,114.67 (1,535,503.28) 0.00 0.00
======================================================================================
Ending Principal Paid
Certificate Pool Per $1,000
Balances Factor Denomination
- -----------------------------------------------
38,621,316.39 85.27559% 33.90
0.00 0.00 0.00
35,585,000.00 100.00000% 0.00
0.00 0.00 0.00
32,350,000.00 100.00000% 0.00
0.00 0.00 0.00
22,642,000.00 100.00000% 0.00
0.00 0.00 0.00
32,350,000.00 100.00000% 0.00
0.00 0.00 0.00
19,409,000.00 100.00000% 0.00
0.00 0.00 0.00
17,089,896.73 99.05464% 3.13
0.00 0.00 0.00
10,681,353.85 99.05464% 3.13
0.00 0.00 0.00
265,044.42
- -----------------
208,993,611.39
=================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: NOVEMBER 4, 1996
REMITTANCE REPORT POOL REPORT # 4
REPORTING MONTH: Oct-96
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
-------------------------------------------------------------------------------------------
A-1 5.4967% 0.00 190,073.74 190,073.74 0.00 0.00
A-1 Carryover Interest 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
A-2 6.8000% 0.00 201,648.33 201,648.33 0.00 0.00
A-2 Carryover Interest 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
A-3 7.1000% 0.00 191,404.17 191,404.17 0.00 0.00
A-3 Carryover Interest 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
A-4 7.3500% 0.00 138,682.25 138,682.25 0.00 0.00
A-4 Carryover Interest 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
A-5 7.6500% 0.00 206,231.25 206,231.25 0.00 0.00
A-5 Carryover Interest 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
A-6 8.0000% 0.00 129,393.33 129,393.33 0.00 0.00
A-6 Carryover Interest 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
B-1 8.3920% 0.00 119,892.86 119,892.86 0.00 0.00
B-1 Carryover Interest 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
B-2 9.6440% 0.00 86,113.63 86,113.63 0.00 0.00
B-2 Carryover Interest 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
X (0.00) 434,181.34 347,269.41 86,911.93 86,911.93
Service Fee 0.00 175,440.93 175,440.93 0.00 0.00
--------------------------------------------------------------------------------
(0.00) 1,873,061.83 1,786,149.90 86,911.93 86,911.93
*Distribute "X" as follows:
Class "X" interest 0.00
B-2 Reserve Fund 0.00
-------------------
0.00
===================
Interest Paid
Per $1,000 Cert. TOTAL
Denomination Class DISTRIBUTION
- ------------------------------------------------------------------
4.73 A-1 1,725,577.02
0.00
0.00
5.67 A-2 201,648.33
0.00
0.00
5.92 A-3 191,404.17
0.00
0.00
6.13 A-4 138,682.25
0.00
0.00
6.38 A-5 206,231.25
0.00
0.00
6.67 A-6 129,393.33
0.00
0.00
6.99 B-1 173,874.35
0.00
0.00
8.04 B-2 119,852.60
0.00
0.00
X 347,269.41
175,440.93
----------------------
3,409,373.64
======================