OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: MARCH 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 8
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Feb-97
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
- ---------------------------------------------------------------------------------------------------------------------------------
205,060,874.50 (533,328.28) (459,602.06) (675,401.53) 0.00 203,392,542.63 1,906,797.50 170,884.06 1,735,913.44 528,937.34
=================================================================================================================================
Amount
Reserve Available for
Fund Draw Distribution
- -----------------------
0.00 3,428,665.18
========================
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
- ------------------------------------------------------------------------------------------------------------------------------------
433,037.29 0.00 -1,712.29 1,559.12 432,884.12 0.00 0.00 432,884.12 1,559.12
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
324,778.22 0.00 -1,284.22 1,169.34 324,663.34 0.00 0.00 324,663.34 1,169.34
====================================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------
216,472.21 0.00 -810.21 779.47 216,441.47 0.00 0.00 216,441.47 779.47
=======================================================================================================================
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
- --------------------------------------------------------------------------------
634,505.50 1,661,713.52 1,890,711.28 (3,548,081.04) 2,519.96 641,369.22
================================================================================
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
1,441,505.87 1,394,339.70 2,029,004.87 2,076,171.04
================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: MARCH 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 8
REMITTANCE REPORT
REPORTING MONTH: Feb-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 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
Average 60 day delinquency ratio:
Over 60s Pool Balance %
----------------------------------------------------
Current Mo 5,768,377.23 203,392,542.63 2.84%
1st Preceding Mo 5,933,757.11 205,060,874.50 2.89%
2nd Preceding Mo 5,008,161.09 206,684,145.23 2.42%
Divided by 3
-------------
2.72%
=============
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
Average 30 day delinquency ratio:
Over 30s Pool Balance %
-------------------------------------------------------
Current Mo 8,748,189.69 203,392,542.63 4.30%
1st Preceding Mo 9,062,821.51 205,060,874.50 4.42%
2nd Preceding Mo 8,960,345.71 206,684,145.23 4.34%
Divided by 3
-------------
4.35%
=============
(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 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 205,060,874.50
--------------------
13.672% N
====================
Cumulative loss ratio:
Cumulative losses 488,333.39
-----------------------
Divided by Initial Certificate Principal 215,662,295.00 0.226%
=========
Current realized loss ratio:
Liquidation Pool
Losses Balance
------------------------------------------
Current Mo 146,464.19 205,060,874.50
1st Preceding Mo 154,750.64 206,684,145.23
2nd Preceding Mo 57,664.15 207,898,121.83
0.697%
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: MARCH 6, 1997
REMITTANCE REPORT POOL REPORT # 8
REPORTING MONTH: Feb-97 Page 3 of 6
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over
No. of Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance
--------------------------------------------------------------------------------------------------------------
Excluding Repos 7,467 200,569,290.90 109 2,866,527.04 35 1,102,676.99 61 2,018,522.06
Repos 93 2,823,251.73 5 113,285.42 9 217,596.05 78 2,429,582.13
--------------------------------------------------------------------------------------------------------------
Total 7,560 203,392,542.63 114 2,979,812.46 44 1,320,273.04 139 4,448,104.19
==============================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
- --------------------------------------------------------------------------------------------------------------------------------
Excluding Repos 205 5,987,726.09 93 2,823,251.73 -2 (49,064.68) 32 860,911.64 173 4,574,435.08
Repos 92 2,760,463.60
------------------------
Total 297 8,748,189.69
========================
3.9% 4.30%
========================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: MARCH 6, 1997
REMITTANCE REPORT POOL REPORT # 8
REPORTING MONTH: Feb-97
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
- ------------------------------------------------------------------------------------------------------------------------------------
000520-huighe 11,435.89 2,490.00 0.00 13,925.89 384.71 13,541.18
003278-anderson, brian 15,149.78 5,500.00 0.00 5,500.00 0.00 5,500.00
086950-clay 35,970.50 29,500.00 2,327.52 31,827.52 1,464.60 30,362.92
088370-whitmore 21,059.13 21,600.00 167.20 21,767.20 3,425.35 18,341.85
088855-pridgen 21,977.27 21,500.00 1,259.45 22,759.45 1,797.27 20,962.18
089052-zonyk 25,556.88 26,900.00 2,107.15 29,007.15 4,617.10 24,390.05
090161-hall 11,090.82 10,900.00 159.84 11,059.84 1,998.50 9,061.34
090169-threadgill 38,557.41 36,400.00 797.16 37,197.16 4,517.75 32,679.41
090716-ringo 22,085.36 23,900.00 410.40 24,310.40 2,865.37 21,445.03
090791-tindall 25,712.78 24,700.00 1,582.09 26,282.09 1,427.16 24,854.93
090891-thompson, sheila 33,278.81 29,800.00 1,865.17 31,665.17 1,031.44 30,633.73
090991-estes 40,247.21 18,150.00 2,106.93 20,256.93 0.00 20,256.93
091321-hardy 22,208.32 21,000.00 95.66 21,095.66 1,030.00 20,065.66
091657-salas 24,700.12 21,900.00 1,108.37 23,008.37 1,943.00 21,065.37
092457-colbert 20,652.02 20,100.00 208.15 20,308.15 3,492.00 16,816.15
925602 hogg 31,302.65 29,900.00 2,467.20 32,367.20 897.00 31,470.20
928044 grim 9,521.76 3,690.00 913.30 4,603.30 1,520.00 3,083.30
931097 baugh 20,091.54 24,100.00 0.00 24,100.00 2,532.48 21,567.52
931402 kershaw 31,089.84 29,700.00 631.38 30,331.38 5,716.00 24,615.38
936823 douzart 33,909.74 28,500.00 3,341.90 31,841.90 2,871.50 28,970.40
936971 smith, shawna 26,996.24 23,000.00 206.82 23,206.82 1,762.20 21,444.62
939199 madden 26,417.84 24,750.00 1,411.37 26,161.37 1,873.54 24,287.83
940510 schneider 26,130.58 26,000.00 179.92 26,179.92 2,234.94 23,944.98
924274 marcum 20,373.23 22,900.00 1,008.83 23,908.83 1,175.23 22,733.60
950857 mullis 24,068.38 22,575.00 1,448.23 24,023.23 2,153.25 21,869.98
089108-richards 28,494.59 22,900.00 2,455.09 25,355.09 4,158.70 21,196.3
089109-ezell 27,322.84 30,100.00 1,511.66 31,611.66 4,229.27 27,382.39
----------------------------------------------------------------------------------------------------
675,401.53 602,455.00 29,770.79 643,661.68 61,118.36 582,543.32
====================================================================================================
Net Current
Account Customer Unrecov. Pass Thru Period Net Cumulative
Number Name Advances Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------------------------------------------------------------------
000520-huighe 1,749.44 11,791.74 355.85
003278-anderson, brian 1,832.64 3,667.36 (11,482.42)
086950-clay 2,139.69 28,223.23 (7,747.27)
088370-whitmore 1,962.78 16,379.07 (4,680.06)
088855-pridgen 1,718.76 19,243.42 (2,733.85)
089052-zonyk 2,147.11 22,242.94 (3,313.94)
090161-hall 1,203.30 7,858.04 (3,232.78)
090169-threadgill 3,518.20 29,161.21 (9,396.20)
090716-ringo 2,232.23 19,212.80 (2,872.56)
090791-tindall 2,172.87 22,682.06 (3,030.72)
090891-thompson, sheila 1,878.50 28,755.23 (4,523.58)
090991-estes 2,435.40 17,821.53 (22,425.68)
091321-hardy 2,050.02 18,015.64 (4,192.68)
091657-salas 1,396.70 19,668.67 (5,031.45)
092457-colbert 2,080.75 14,735.40 (5,916.62)
925602 hogg 1,885.30 29,584.90 (1,717.75)
928044 grim 1,309.35 1,773.95 (7,747.81)
931097 baugh 2,368.14 19,199.38 (892.16)
931402 kershaw 1,921.85 22,693.53 (8,396.31)
936823 douzart 2,233.50 26,736.90 (7,172.84)
936971 smith, shawna 1,824.78 19,619.84 (7,376.40)
939199 madden 1,411.32 22,876.51 (3,541.33)
940510 schneider 1,866.45 22,078.53 (4,052.05)
924274 marcum 1,341.90 21,391.70 1,018.47
950857 mullis 1,154.52 20,715.46 (3,352.92)
089108-richards 3,304.01 17,892.38 (10,602.21)
089109-ezell 2,466.47 24,915.92 (2,406.92)
-----------------------------------------------------------------
53,605.98 528,937.34 (146,464.19) (488,333.39)
===============================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: MARCH 6, 1997
REMITTANCE REPORT POOL REPORT # 8
REPORTING MONTH: Feb-97
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 34,688,579.48 (1,668,331.87) 0.00 0.00 33,020,247.61
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 16,983,002.06 0.00 0.00 0.00 16,983,002.06
B-1 Outstanding Writedown 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
B-2 Outstanding Writedown 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
---------------------------------------------------------------------------------------------------
215,662,295.00 205,060,874.48 (1,668,331.87) 0.00 0.00 203,392,542.61
===================================================================================================
Principal Paid
Cert. Pool Per $1,000
Class Factor Denomination
- ------------------------------- ---------------------------------------
A-1 72.90847% 36.84
A-1 Outstanding Writedown 0.00 0.00
A-2 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00
A-3 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00
A-4 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00
A-5 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00
A-6 100.00000% 0.00
A-6 Outstanding Writedown 0.00 0.00
B-1 98.43507% 0.00
B-1 Outstanding Writedown 0.00 0.00
B-2 98.43507% 0.00
B-2 Outstanding Writedown 0.00 0.00
Excess Asset Principal Balance
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: MARCH 6, 1997
REMITTANCE REPORT POOL REPORT # 8
REPORTING MONTH: Feb-97
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
--------------------------------------------------------------------------------------------------
A-1 5.5319% 0.00 149,250.16 149,250.16 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% 0.00 118,767.79 118,767.79 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 85,305.55 85,305.55 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 255,750.81 429,788.58 368,766.42 61,022.16 316,772.97
Service Fee 170,884.06 170,884.06 0.00 0.00
-------------------------------------------------------------------------------------------
255,750.81 1,821,355.47 1,760,333.31 61,022.16 316,772.97
===========================================================================================
CUMULATIVE UNPAID "X" 316,772.97
CUMULATIVE UNPAID TURBO 171,560.42
-----------------
CUMULATIVE TOTAL LOSSES 488,333.39
=================
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
----------------------------------------------------------------------
A-1 4.30 A-1 1,817,582.03
A-1 Carryover Interest 0.00
A-1 Writedown Interest 0.00
A-2 5.67 A-2 201,648.33
A-2 Carryover Interest 0.00
A-2 Writedown Interest 0.00
A-3 5.92 A-3 191,404.17
A-3 Carryover Interest 0.00
A-3 Writedown Interest 0.00
A-4 6.13 A-4 138,682.25
A-4 Carryover Interest 0.00
A-4 Writedown Interest 0.00
A-5 6.38 A-5 206,231.25
A-5 Carryover Interest 0.00
A-5 Writedown Interest 0.00
A-6 6.67 A-6 129,393.33
A-6 Carryover Interest 0.00
A-6 Writedown Interest 0.00
B-1 6.99 B-1 118,767.79
B-1 Carryover Interest 0.00
B-1 Writedown Interest 0.00
B-2 8.04 B-2 85,305.55
B-2 Carryover Interest 0.00
B-2 Writedown Interest 0.00
X X 368,766.42
Service Fee 170,884.06
--------------------
3,428,665.18
====================