OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: JUNE 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 11
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: MAY 31, 1997
Scheduled Principal Balance of Contracts
---------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
---------------------------------------------------------------------------------------
199,776,274.57 (527,785.56) (607,853.15) (586,135.15) 0.00 198,054,500.71
=========================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for
Interest Fee Interest Proceeds Fund Draw Distribution
- ----------------------------------------------------------------------------------------------------------------
1,863,177.49 166,480.23 1,696,697.26 436,140.64 0.00 3,434,956.84
==================================================================================================================
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
- ----------------------------------------------------------------------------------------------------------------------------------
433,044.02 0.00 -1,719.02 1,767.53 433,092.53 0.00 0.00 433,092.53 1,767.53
==================================================================================================================================
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
- ----------------------------------------------------------------------------------------------------------------------------------
324,783.27 0.00 -1,289.27 1,325.65 324,819.65 0.00 0.00 324,819.65 1,325.65
===================================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
216,521.50 0.00 -859.50 883.77 216,545.77 0.00 0.00 216,545.77 883.77
===================================================================================================================================
Reserve Fund Required Balance
- ----------------------------------------------------
Before Current After Current
Distribution Distribution
- ----------------------------------------------------
431,325.00 431,325.00
====================================================
Reserve Fund Required Balance
- ----------------------------------------------------
Before Current After Current
Distribution Distribution
- ----------------------------------------------------
323,494.00 323,494.00
====================================================
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
- -----------------------------------------------------------------------------------------
1,039,070.10 1,706,331.38 1,811,775.39 (3,828,537.54) 2,943.64 731,582.97
=========================================================================================
P&I Advances at Distribution Date
- ---------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------
1,657,404.01 1,567,152.91 1,526,665.55 1,616,916.65
=================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: JUNE 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 11
REMITTANCE REPORT
REPORTING MONTH: MAY 31, 1997 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
Aug. 1996 -Aug. 1997 4% N
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 199,776,274.57
-------------
14.034% N
==============
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-----------------------------------------
Current Mo 6,631,574.15 198,054,500.71 3.35%
1st Preceding Mo 6,410,745.32 199,776,274.57 3.21%
2nd Preceding Mo 5,968,141.52 201,726,190.22 2.96%
Divided by 3
-------
3.17%
=======
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------
Current Mo 9,498,685.85 198,054,500.71 4.80%
1st Preceding Mo 9,118,247.60 199,776,274.57 4.56%
2nd Preceding Mo 9,092,747.24 201,726,190.22 4.51%
Divided by 3
--------
4.62%
========
Cumulative loss ratio:
Cumulative losses 1,002,965.10
----------------
Divided by Initial Certificate Principal 215,662,295.00 0.465%
========
Current realized loss ratio:
Liquidation Pool
Losses Balance
----------------------------------------------
Current Mo 149,994.51 199,776,274.57
1st Preceding Mo 172,801.69 201,726,190.22
2nd Preceding Mo 191,835.51 203,392,542.63
1.025%
========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JUNE 6, 1997
REMITTANCE REPORT POOL REPORT # 11
REPORTING MONTH: MAY 31, 1997 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 7,237 194,366,223.87 96 2,679,539.02 37 1,144,493.97 63 2,029,099.07 196 5,853,132.06
Repos 124 3,688,276.84 8 187,572.68 17 456,712.49 96 3,001,268.62 121 3,645,553.79
------------------------------------------------------------------------------------------------------------------
Total 7,361 198,054,500.71 104 2,867,111.70 54 1,601,206.46 159 5,030,367.69 317 9,498,685.85
===================================================================================================================
4.3% 4.80%
=====================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ------------------------------------------------------------------------------------------------------------------------------
Excluding Repos 124 3,688,276.84 -1 (83,204.48) 41 1,082,560.68 275 7,300,363.11
Repos
Total
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JUNE 6, 1997
REMITTANCE REPORT POOL REPORT #11
REPORTING MONTH: MAY 31, 1997 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
- -----------------------------------------------------------------------------------------------------------------------------------
091292-3 WILLIAMS 36,606.10 35,900.00 855.04 36,755.04 2,850.06 33,904.98 3,442.35
088630-9 PREWITT 22,878.66 21,400.00 61.88 21,461.88 4,253.45 17,208.43 1,464.30
094101-3 LAIL 49,378.42 50,274.00 118.64 50,392.64 12,996.68 37,395.96 4,568.49
094328-2 CRADDOCK 42,070.22 38,700.00 106.43 38,806.43 2,435.00 36,371.43 3,084.96
091787-2 AYERS 26,057.09 24,800.00 929.30 25,729.30 2,894.00 22,835.30 1,364.08
090903-6 HOSE 25,698.74 21,500.00 2,226.66 23,726.66 3,610.00 20,116.66 3,372.84
094465-2 RHEW 28,726.66 26,900.00 1,462.20 28,362.20 2,792.00 25,570.20 1,299.84
093134-5 MCCLENDON 28,397.35 27,900.00 0.00 27,900.00 3,357.60 24,542.40 2,120.40
092710-3 MILLER 46,891.61 45,900.00 2,594.86 48,494.86 4,153.27 44,341.59 4,062.40
000585-0 COVINGTON 10,493.11 5,000.00 0.00 5,000.00 0.00 5,000.00 951.00
093708-6 MCNEAL 13,777.28 3,100.00 776.52 3,876.52 586.44 3,290.08 1,505.04
091191-7 PAGE 32,553.59 29,900.00 2,316.65 32,216.65 3,222.00 28,994.65 1,843.60
089297-6 ARAUJO 30,424.57 28,900.00 61.64 28,961.64 4,673.00 24,288.64 2,563.54
088386-8 BOOTH 48,952.66 41,500.00 2,453.07 43,953.07 3,372.06 40,581.01 3,066.64
089324-8 RANDALL 35,463.67 31,500.00 1,497.63 32,997.63 2,797.26 30,200.37 2,729.65
092024-9 HENDERSON 26,365.43 26,900.00 0.00 26,900.00 2,133.49 24,766.51 1,520.80
092413-4 BANTIS 32,886.56 27,900.00 2,234.94 30,134.94 9,376.23 20,758.71 2,604.49
091926-6 KIRKPATRICK 31,697.49 27,900.00 1,861.45 29,761.45 3,306.50 26,454.95 1,536.50
091618-9 JOHNSON 16,815.94 15,000.00 0.00 15,000.00 1,049.21 13,950.79 1,331.10
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
========================================================================================================
586,135.15 530,874.00 19,556.91 550,430.91 69,858.25 480,572.66 44,432.02
=========================================================================================================
Net Current
Account Customer Pass Thru Period Net Cumulative
Number Name Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------------------------------------------
091292-3 WILLIAMS
088630-9 PREWITT 30,462.63 (6,143.47)
094101-3 LAIL 15,744.13 (7,134.53)
094328-2 CRADDOCK 32,827.47 (16,550.95)
091787-2 AYERS 33,286.47 (8,783.75)
090903-6 HOSE 21,471.22 (4,585.87)
094465-2 RHEW 16,743.82 (8,954.92)
093134-5 MCCLENDON 24,270.36 (4,456.30)
092710-3 MILLER 22,422.00 (5,975.35)
000585-0 COVINGTON 40,279.19 (6,612.42)
093708-6 MCNEAL 4,049.00 (6,444.11)
091191-7 PAGE 1,785.04 (11,992.24)
089297-6 ARAUJO 27,151.05 (5,402.54)
088386-8 BOOTH 21,725.10 (8,699.47)
089324-8 RANDALL 37,514.37 (11,438.29)
092024-9 HENDERSON 27,470.72 (7,992.95)
092413-4 BANTIS 23,245.71 (3,119.72)
091926-6 KIRKPATRICK 18,154.22 (14,732.34)
091618-9 JOHNSON 24,918.45 (6,779.04)
12,619.69 (4,196.25)
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
==================================================
436,140.64 (149,994.51) (1,002,965.10)
==================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT REPORT DATE: JUNE 6, 1997
REPORTING MONTH: MAY 31, 1997 POOL REPORT # 11
CERTIFICATE PRINCIPAL ANALYSIS Page 5 of 6
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 29,403,979.55 (1,721,773.84) 0.00 0.00 27,682,205.71
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
--------------------------------------------------------------------------------------------------------
215,662,295.00 199,776,274.55 (1,721,773.84) 0.00 0.00 198,054,500.71
========================================================================================================
Principal Paid
Cert. Pool Per $1,000
Class Factor Denomination
- -------------------------------------------------------------
A-1 61.12211% 38.02
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: JUNE 6, 1997
REMITTANCE REPORT POOL REPORT # 11
REPORTING MONTH: MAY 31, 1997
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
- -----------------------------------------------------------------------------------------------------------------------------------
A-1 5.79750% 0.00 146,793.24 146,793.24 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 6.80000% 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 7.10000% 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 7.35000% 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 7.65000% 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 8.00000% 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 8.39200% 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 9.64400% 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 512,610.70 395,231.24 328,476.86 66,754.38 579,365.08
Service Fee 166,480.23 166,480.23 0.00 0.00
----------------------------------------------------------------------------------
512,610.70 1,779,937.38 1,713,183.00 66,754.38 579,365.08
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
- --------------------------------------------------------------
A-1 4.99 A-1 1,868,567.08
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 328,476.86
Service Fee 166,480.23
------------
3,434,956.84
CUMULATIVE UNPAID "X" 579,365.08
CUMULATIVE UNPAID TURBO 423,600.00
------------
CUMULATIVE TOTAL LOSSES 1,002,965.08
------------