OAKWOOD MORTGAGE INVESTORS, INC. 1996-C REPORT DATE: APRIL 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Mar-97
Scheduled Principal Balance of Contracts
- ---------------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- --------------------------------------------------------------------------------------------------------------------------------
260,354,553.02 (436,740.06) (891,465.31) (462,093.16) 0.00 258,564,254.49
================================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for
Interest Fee Interest Proceeds Fund Draw Distribution
- ---------------------------------------------------------------------------------------------------------------------------
2,330,457.20 216,962.13 2,113,495.07 340,992.37 0.00 3,999,654.94
===========================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
1,358,849.63 0.00 -4,893.63 5,477.43 1,359,433.43 0.00 0.00 1,359,433.43
===================================================================================================================================
Reserve Fund Required Balance
--------------------------------------
Before Current After Current
Excess Distribution Distribution
- ------------ --------------------------------------
5,477.43 1,353,956.00 1,353,956.00
============ ======================================
Class A-6 Liquidity Account
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution
- ----------------------------------------------------------------------------------------------------------------------------------
454,804.77 0.00 -1,637.89 1,833.28 455,000.16 0.00 0.00 455,000.16
==================================================================================================================================
Reserve Fund Required Balance
--------------------------------------
Before Current After Current
Excess Distribution Distribution
- ----------------- --------------------------------------
1,833.28 453,166.88 453,166.88
================= ======================================
Class B Liquidity Account
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
798,454.70 0.00 -2,872.94 3,218.53 798,800.29 0.00 0.00 798,800.29
====================================================================================================================================
Reserve Fund Required Balance
--------------------------------------
Before Current After Current
Excess Distribution Distribution
- ------------------ --------------------------------------
3,218.53 795,581.76 795,581.76
================== ======================================
Certificate Account
- ---------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------------------------------------------------
1,322,700.97 1,800,617.10 2,418,086.91 (4,303,310.38) 4,117.17 1,242,211.77
=================================================================================================================================
P&I Advances at Distribution Date
----------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
----------------------------------------------------------------------------------
3,012,931.33 2,972,810.78 1,332,476.12 1,372,596.67
==================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C REPORT DATE: APRIL 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT
REPORTING MONTH: Mar-97 Page 2 of 6
Class B Crossover Test Test Met?
- ----------------------------------------------------------------- ---------------
(a) Remittance date on or after May 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
Nov. 1996 - Nov. 1997 4% Y
April 2001 - Nov. 2002 7% N
Dec. 2002 - April 2003 8% N
May 2003 - 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Are class B principal balances plus Accelerated
Principal Distributions > = 24.501%
of stated scheduled pool balance
Beginning B-1 balance 25,726,000.00
Beginning B-2 balance 12,186,224.00
--------------------
37,912,224.00
Divided by beginning pool
balance 260,354,553.02
--------------------
14.562% N
====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 4,301,822.63 258,564,254.49 1.66%
1st Preceding Mo 4,080,555.68 260,354,553.02 1.57%
2nd Preceding Mo 3,212,354.80 262,369,743.33 1.22%
Divided by 3
-------------
1.49%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 7,784,842.71 258,564,254.49 3.01%
1st Preceding Mo 7,093,812.88 260,354,553.02 2.72%
2nd Preceding Mo 7,199,872.49 262,369,743.33 2.74%
Divided by 3
----------
2.83%
==========
Cumulative loss ratio:
Cumulative losses 184,857.99
------------------------
Divided by Initial Certificate Principal 270,791,224.00 0.068%
==========
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 121,100.79 258,564,254.49
1st Preceding Mo 61,725.19 260,354,553.02
2nd Preceding Mo 0.00 262,369,743.33
0.281%
==========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: APRIL 6, 1997
REMITTANCE REPORT POOL REPORT # 6
REPORTING MONTH: Mar-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 7,888 257,039,093.17 109 3,353,855.30 35 1,243,333.95 40 1,662,492.14 184 6,259,681.39
Repos 51 1,525,161.32 4 129,164.78 7 189,801.02 40 1,206,195.52 51 1,525,161.32
-------------------------------------------------------------------------------------------------------------------
Total 7,939 258,564,254.49 113 3,483,020.08 42 1,433,134.97 80 2,868,687.66 235 7,784,842.71
=====================================================================================================================
3.0% 3.01%
======================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- -------------------------------------------------------------------------------------------------------------
51 1,525,161.32 0 0.00 20 644,294.40 82 2,310,155.74
====================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: APRIL 6, 1997
REMITTANCE REPORT POOL REPORT # 6
REPORTING MONTH: Mar-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
- ------------------------------------------------------------------------------------------------------------------------------------
098176-1 Crocker Jr, Fred 38,381.67 26,900.00 313.87 27,213.87 3,526.87 23,687.00
098473-2 Richards, Christopher 30,668.73 29,797.00 0.00 29,797.00 3,217.40 26,579.60
098488-0 Halbert, Richard 30,384.16 28,900.00 1,059.55 29,959.55 5,580.00 24,379.55
098823-8 Noel, Angel 21,791.84 19,770.00 1,005.22 20,775.22 4,837.15 15,938.07
098835-2 Peters, Patrick 25,238.85 24,900.00 421.92 25,321.92 1,534.00 23,787.92
094524-6 Treesh, Danny R 35,545.65 29,900.00 3,577.63 33,477.63 4,103.16 29,374.47
095013-9 Goodin, Imogene 24,122.33 19,925.00 252.50 20,177.50 3,328.24 16,849.26
095067-5 Sullivan, Gloria J 26,310.99 24,700.00 1,529.25 26,229.25 2,771.48 23,457.77
095441-2 Fraser, Janice 33,701.03 29,500.00 1,743.30 31,243.30 5,812.50 25,430.80
096546-7 Foster, Jimmy L 33,890.12 30,150.00 1,958.66 32,108.66 4,079.50 28,029.16
096946-9 Layton, David R 38,362.44 36,800.00 1,372.41 38,172.41 1,504.51 36,667.90
097577-1 Bagwell, Vicky L 18,359.76 6,700.00 143.52 6,843.52 2,825.00 4,018.52
099392-3 Proctor, Beverly A 18,460.86 19,950.00 216.20 20,166.20 4,223.50 15,942.70
099470-7 Buck, Bill J 24,983.19 27,400.00 1,130.75 28,530.75 2,415.09 26,115.66
100872-1 Swinney, Cynthia 9,274.26 0.01 148.84 148.85 0.00 148.85
101120-4 Scearce, Wilbur 22,698.20 22,501.00 1,121.30 23,622.30 2,630.00 20,992.30
103069-1 Barnes, John D 29,919.08 29,500.00 3,130.71 32,630.71 6,296.22 26,334.49
0.00 0.00
----------------------------------------------------------------------------------------------------
462,093.16 407,293.01 19,125.63 426,418.64 58,684.62 367,734.02
====================================================================================================
Net Current
Account Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Number Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ---------- --------------------------------------------------------------------------------------
098176-1 2,093.20 0.00 21,593.80 (16,787.87)
098473-2 1,700.85 0.00 24,878.75 (5,789.98)
098488-0 1,736.15 0.00 22,643.40 (7,740.76)
098823-8 1,558.65 0.00 14,379.42 (7,412.42)
098835-2 1,442.15 0.00 22,345.77 (2,893.08)
094524-6 2,160.65 0.00 27,213.82 (8,331.83)
095013-9 1,360.15 0.00 15,489.11 (8,633.22)
095067-5 1,434.88 0.00 22,022.89 (4,288.10)
095441-2 2,050.85 0.00 23,379.95 (10,321.08)
096546-7 1,811.85 0.00 26,217.31 (7,672.81)
096946-9 2,094.55 0.00 34,573.35 (3,789.09)
097577-1 1,087.80 0.00 2,930.72 (15,429.04)
099392-3 1,121.60 0.00 14,821.10 (3,639.76)
099470-7 704.82 0.00 25,410.84 427.65
100872-1 1,150.50 0.00 (1,001.65) (10,275.91)
101120-4 1,275.85 0.00 19,716.45 (2,981.75)
103069-1 1,957.15 0.00 24,377.34 (5,541.74)
0.00 0.00 0.00
----------------------------------------------------------------------------------------
26,741.65 0.00 340,992.37 (121,100.79) (184,857.99)
========================================================================================
As a percentage of the aggregate cut-off date principal balance 0%
==========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: APRIL 6, 1997
REMITTANCE REPORT POOL REPORT # 6
REPORTING MONTH: Mar-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 50,300,000.00 39,863,329.30 (1,790,298.53) 0.00 0.00 38,073,030.77
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-2 46,970,000.00 46,970,000.00 0.00 0.00 0.00 46,970,000.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-3 35,400,000.00 35,400,000.00 0.00 0.00 0.00 35,400,000.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-4 20,900,000.00 20,900,000.00 0.00 0.00 0.00 20,900,000.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-5 55,614,000.00 55,614,000.00 0.00 0.00 0.00 55,614,000.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
A-6 23,695,000.00 23,695,000.00 0.00 0.00 0.00 23,695,000.00
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
B-1 25,726,000.00 25,726,000.00 0.00 0.00 0.00 25,726,000.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00
B-2 12,186,224.00 12,186,224.00 0.00 0.00 0.00 12,186,224.00
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
--------------------------------------------------------------------------------------------------
270,791,224.00 260,354,553.30 (1,790,298.53) 0.00 0.00 258,564,254.77
====================================================================================================
Principal Paid
Cert. Pool Per $1,000
Class Factor Denomination
- -------------------------------------------------------------------------
A-1 75.69191% 35.59
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-1 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00
B-2 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00
Excess Asset Principal Balance
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: APRIL 6, 1997
REMITTANCE REPORT POOL REPORT # 6
REPORTING MONTH: Mar-97
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
--------------------------------------------------------------------------------------------------
A-1 5.54750% 0.00 190,427.68 190,427.68 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 6.45000% 0.00 252,463.75 252,463.75 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 6.75000% 0.00 199,125.00 199,125.00 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 7.00000% 0.00 121,916.67 121,916.67 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 7.35000% 0.00 340,635.75 340,635.75 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 7.65000% 0.00 151,055.63 151,055.63 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 7.96000% 0.00 170,649.13 170,649.13 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 9.31000% 0.00 94,544.79 94,544.79 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 63,757.20 592,676.67 471,575.88 121,100.79 184,857.99
R - 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 216,962.13 216,962.13 0.00 0.00
---------------------------------------------------------------------------------------
63,757.20 2,330,457.20 2,209,356.41 121,100.79 184,857.99
Class B Liquidity Account 0.00
---------------
2,209,356.41
===============
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
----------------------------------------------------------------------
A-1 4.78 A-1 1,980,726.21
A-1 Carryover Interest 0.00
A-1 Writedown Interest 0.00
A-2 5.38 A-2 252,463.75
A-2 Carryover Interest 0.00
A-2 Writedown Interest 0.00
A-3 5.63 A-3 199,125.00
A-3 Carryover Interest 0.00
A-3 Writedown Interest 0.00
A-4 5.83 A-4 121,916.67
A-4 Carryover Interest 0.00
A-4 Writedown Interest 0.00
A-5 6.13 A-5 340,635.75
A-5 Carryover Interest 0.00
A-5 Writedown Interest 0.00
A-6 6.38 A-6 151,055.63
A-6 Carryover Interest 0.00
A-6 Writedown Interest 0.00
B-1 6.63 B-1 170,649.13
B-1 Carryover Interest 0.00
B-1 Writedown Interest 0.00
B-2 7.76 B-2 94,544.79
B-2 Carryover Interest 0.00
B-2 Writedown Interest 0.00
X X 471,575.88
R R 0.00
Service Fee 216,962.13
---------------------
3,999,654.94
Class B Liquidity Account 0.00
---------------------
3,999,654.94
=====================