OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: FEBRUARY 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jan-97
Scheduled Principal Balance of Contracts
- ----------------------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross Servicing Pass Thru
Balance Principal Principal Principal Repurchased Balance Interest Fee Interest
- -----------------------------------------------------------------------------------------------------------------------
206,684,145.23 (534,165.75)(579,554.15) (509,550.83) 0.00 205,060,874.50 1,922,854.09 172,236.79 1,750,617.30
=======================================================================================================================
Amount
Liquidation Reserve Available for
Proceeds Fund Draw Distribution
- ----------------------------------------------------------------------
354,800.19 0.00 3,391,374.18
======================================================================
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
- ----------------------------------------------------------------------------------------------------------------------------------
433,060.82 0.00 -1,735.82 1,712.29 433,037.29 0.00 0.00 433,037.29 1,712.29
==================================================================================================================================
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
- --------------------------------------------------------------------------------------------------------------------------------
324,795.86 0.00 -1,301.86 1,284.22 324,778.22 0.00 0.00 324,778.22 1,284.22
================================================================================================================================
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
- ----------------------------------------------------------------------------------------------------------------------------------
216,482.66 0.00 -820.66 810.21 216,472.21 0.00 0.00 216,472.21 810.21
==================================================================================================================================
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
- --------------------------------------------------------------------------------
241,352.42 1,630,898.74 1,911,124.05 (3,150,825.93) 1,956.22 634,505.50
================================================================================
P&I Advances at Distribution Date
- ------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ------------------------------------------------------------------------------
1,854,580.13 1,816,085.33 1,403,011.07 1,441,505.87
==============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: FEBRUARY 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: Jan-97 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 16,983,002.06
Beginning B-2 balance 10,614,543.63
Beginning Accelerated Principal Distribution 438,749.31
------------------
28,036,295.00
Divided by beginning pool
balance 206,684,145.23
------------------
13.565% N
==================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-------------------------------------------------
Current Mo 5,933,757.11 205,060,874.50 2.89%
1st Preceding Mo 5,008,161.09 206,684,145.23 2.42%
2nd Preceding Mo 3,568,856.74 207,898,121.83 1.72%
Divided by 3
--------------
2.34%
==============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
---------------------------------------------------
Current Mo 9,062,821.51 205,060,874.50 4.42%
1st Preceding Mo 8,960,345.71 206,684,145.23 4.34%
2nd Preceding Mo 6,751,830.44 207,898,121.83 3.25%
Divided by 3
--------------
4.00%
==============
Cumulative loss ratio:
Cumulative losses 341,869.20
--------------------
Divided by Initial Certificate Principal 215,662,295.00 0.159%
==============
Current realized loss ratio:
Liquidation Pool
Losses Balance
--------------------------------------
Current Mo 154,750.64 206,684,145.23
1st Preceding Mo 57,664.15 207,898,121.83
2nd Preceding Mo 42,542.48 208,993,611.41
0.492%
==========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: FEBRUARY 6, 1997
REMITTANCE REPORT POOL REPORT # 7
REPORTING MONTH: Jan-97 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 7,526 202,363,094.30 121 3,129,064.40 47 1,381,657.25 55 1,884,678.63 223 6,395,400.28
Repos 90 2,697,780.20 0 0.00 21 691,110.21 68 1,976,311.02 89 2,667,421.23
-------------------------------------------------------------------------------------------------------------
Total 7,616 205,060,874.50 121 3,129,064.40 68 2,072,767.46 123 3,860,989.65 312 9,062,821.51
=============================================================================================================
4.1% 4.42%
========================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ----------------------------------------------------------------------------
90 2,697,780.20 0 0.00 25 790,315.61 143 3,762,588.12
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: FEBRUARY 6, 1997
REMITTANCE REPORT POOL REPORT # 7
REPORTING MONTH: Jan-97
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)
- ------------------------------------------------------------------------------------------------------------------------------------
000245-1 MULLINS 11,859.60 2,900.00 0.00 2,900.00 128.48 2,771.52 1,033.00 1,738.52 (10,121.08)
000769-0 MURPHY 11,248.32 3,680.00 0.00 3,680.00 0.00 3,680.00 968.92 2,711.08 (8,537.24)
001261-7 FRAZIER 12,406.43 5,500.00 0.00 5,500.00 0.00 5,500.00 1,848.66 3,651.34 (8,755.09)
002003-2 SCHRECK 12,116.74 3,515.00 0.00 3,515.00 0.00 3,515.00 760.50 2,754.50 (9,362.24)
005932-9 GRIFFIN 4,652.86 1,800.00 0.00 1,800.00 0.00 1,800.00 1,637.10 162.90 (4,489.96)
085754-0 LANIER 14,295.47 6,000.00 744.07 6,744.07 110.00 6,634.07 1,120.20 5,513.87 (8,781.60)
086274-8 SANDERS 24,639.62 24,800.00 88.89 24,888.89 919.00 23,969.89 836.00 23,133.89 (1,505.73)
088486-6 KENDRICK 28,836.67 24,500.00 2,189.87 26,689.87 3,035.00 23,654.87 1,893.90 21,760.97 (7,075.70)
088665-5 CHAPMAN 25,162.49 24,950.00 0.00 24,950.00 748.00 24,202.00 1,067.20 23,134.80 (2,027.69)
089079-8 RAY 22,788.84 22,700.00 183.40 22,883.40 4,247.96 18,635.44 997.60 17,637.84 (5,151.00)
089100-2 BILBREY 16,384.18 5,000.00 1,545.05 6,545.05 775.00 5,770.05 1,283.60 4,486.45 (11,897.73)
089606-8 POLLARD 11,413.86 2,500.00 536.55 3,036.55 250.00 2,786.55 2,170.62 615.93 (10,797.93)
089880-9 TINSLEY 26,694.51 24,900.00 222.56 25,122.56 1,310.95 23,811.61 1,415.90 22,395.71 (4,298.80)
090006-8 HICKMAN 26,168.89 10,800.00 0.00 10,800.00 2,403.40 8,396.60 1,632.30 6,764.30 (19,404.59)
090567-9 COLLINS 30,536.54 31,800.00 1,694.10 33,494.10 4,612.15 28,881.95 2,066.16 26,815.79 (3,720.75)
091078-6 GOWAN 32,765.26 29,310.00 1,921.22 31,231.22 1,088.30 30,142.92 1,847.50 28,295.42 (4,469.84)
091472-1 EMBREE 30,244.32 24,000.00 1,340.13 25,340.13 720.00 24,620.13 1,651.25 22,968.88 (7,275.44)
091527-2 YANCEY 5,331.25 2,100.00 67.95 2,167.95 240.00 1,927.95 1,338.12 589.83 (4,741.42)
091583-5 JOCOBS 27,487.44 25,835.00 1,638.70 27,473.70 2,875.05 24,598.65 1,655.55 22,943.10 (4,544.34)
092390-4 PACHECO 29,700.38 28,500.00 2,453.68 30,953.68 1,061.00 29,892.68 1,286.20 28,606.48 (1,093.90)
092971-1 SETZER 25,572.96 21,200.00 199.36 21,399.36 733.50 20,665.86 1,224.48 19,441.38 (6,131.58)
093885-2 SMITH 23,304.51 22,950.00 920.08 23,870.08 2,638.50 21,231.58 1,270.95 19,960.63 (3,343.88)
093953-8 LOWERY 1,217.44 500.00 37.58 537.58 0.00 537.58 848.24 (310.66) (1,528.10)
094549-3 WELCH 19,546.21 18,900.00 1,186.74 20,086.74 567.00 19,519.74 1,398.05 18,121.69 (1,424.52)
094759-8 HARRIS 35,176.04 35,500.00 644.96 36,144.96 2,864.25 33,280.71 2,375.16 30,905.55 (4,270.49)
----------------------------------------------------------------------------------------------------
509,550.83 404,140.00 17,614.89 421,754.89 31,327.54 390,427.35 35,627.16 354,800.19 (154,750.64) (341,869.20)
==================================================================================================================
0.00
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: FEBRUARY 6, 1997
REMITTANCE REPORT POOL REPORT # 7
REPORTING MONTH: Jan-97
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Accelerated Ending Principal 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 36,311,850.21 (1,623,270.73) 0.00 0.00 34,688,579.48 76.59214% 35.84
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 16,983,002.06 0.00 0.00 0.00 16,983,002.06 98.43507% 0.00
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 10,614,543.63 0.00 0.00 0.00 10,614,543.63 98.43507% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 438,749.31 0.00 0.00 0.00 438,749.31
-------------------------------------------------------------------------------
215,662,295.00 206,684,145.21 (1,623,270.73) 0.00 0.00 205,060,874.48
===============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: FEBRUARY 6, 1997
REMITTANCE REPORT POOL REPORT # 7
REPORTING MONTH: Jan-97
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000 Cert. TOTAL
Class Rate Balance Accrual Paid Shortfall Balance Denomination Class DISTRIBUTION
-----------------------------------------------------------------------------------------------------------
A-1 5.59438% 0.00 174,928.08 174,928.08 0.00 0.00 4.82 A-1 1,798,198.81
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-2 201,648.33
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-3 191,404.17
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-4 138,682.25
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-5 206,231.25
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-6 129,393.33
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% 0.00 118,767.79 118,767.79 0.00 0.00 6.99 B-1 118,767.79
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 85,305.55 85,305.55 0.00 0.00 8.04 B-2 85,305.55
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 187,118.56 418,138.16 349,505.91 68,632.25 255,750.81 X 349,505.91
Service Fee 0.00 172,236.79 172,236.79 0.00 0.00 172,236.79
------------------------------------------------------------------- ------------
187,118.56 1,836,735.70 1,768,103.45 68,632.25 255,750.81 3,391,374.18
*Distribute "X" as follows:
CUMULATIVE UNPAID "X" 255,750.81
CUMULATIVE UNPAID TURBO 86,118.39
---------------
CUMULATIVE TOTAL LOSSES 341,869.20
===============