OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: May-97
Scheduled Principal Balance of Contracts
---------------------------------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross Servicing
Balance Principal Principal Principal Repurchased Balance Interest Fee
----------------------------------------------------------------------------------------------------------------------------------
178,456,192.87 (270,716.91) (1,224,243.03) 0.00 0.00 176,961,232.93 1,546,404.85 148,713.49
=================================================================================================================================
Scheduled Amount
Pass Thru Liquidation Reserve Available for Limited Total
Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -----------------------------------------------------------------------------------------------------
1,397,691.36 0.00 0.00 3,041,364.79 0.00 3,041,364.79
======================================================================================================
Class M Liquidity
Account
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- -----------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00 303,516.56 303,516.56 0.00
==================================================================================================================================
Reserve Fund Required Balance
---------------------------------------------------
Before Current After Current
Distribution Distribution
---------------------------------------------------
303,516.56 303,516.56
===================================================
Class B-1
Liquidity Account
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- -----------------------------------------------------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00 183,243.46 183,243.46 0.00
===================================================================================================================================
Reserve Fund Required Balance
---------------------------------------------------
Before Current After Current
Distribution Distribution
---------------------------------------------------
328,464.38 328,464.38
===================================================
Certificate Account
- ----------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ----------------------------------------------------------------------------------------------------------------
0.00 1,293,069.13 396,208.10 0.00 1,778.49 1,691,055.72
================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- -----------------------------------------------------------------------
0.00 (18,162.13) 72,855.32 91,017.45
=======================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: May-97 Page 2 of 6
Class B Crossover Test Test Met?
- ---------------------------------------------------------------- -------------
(a) Remittance date on or after December 2001 N
(b) Average 60 day Delinquency rate <= 5% #DIV/0!
(c) Average 30 day Delinquency rate <= 7% #DIV/0!
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Dec 2001- May 2003 7% N
June 2003-May 2004 8% N
June 2004 and thereafter 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Does Class B Percentage equal or
exceed 25.375%
of stated scheduled pool balance
Beginning B-1 balance 16,953,000.00
Beginning B-2 balance 8,923,192.00
-----------------
25,876,192.00
Divided by beginning pool
balance 178,456,192.87
----------------
14.500% N
=================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
------------------------------------------------------
Current Mo 0.00 176,961,232.93 0.00%
1st Preceding Mo 0.00 0.00 #DIV/0!
2nd Preceding Mo 0.00 0.00 #DIV/0!
Divided by 3
----------
#DIV/0!
=================
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 509,590.14 176,961,232.93 0.29%
1st Preceding Mo 0.00 0.00 #DIV/0!
2nd Preceding Mo 0.00 0.00 #DIV/0!
Divided by 3
----------
#DIV/0!
==========
Cumulative loss ratio:
Cumulative losses 0.00
-----------
Divided by Initial Certificate Principal 178,456,192.00 0.000%
========
Current realized loss ratio:
Liquidation Pool
Losses Balance
---------------------------------------------
Current Mo 0.00 176,961,232.93
1st Preceding Mo 0.00 0.00
2nd Preceding Mo 0.00 0.00
0.000%
==========
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: May-97
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 5,380 176,961,232.93 17 509,590.14 0 0.00 0 0.00 17 509,590.14
Repos 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00
----------------------------------------------------------------------------------------------------------------
Total 5,380 176,961,232.93 17 509,590.14 0 0.00 0 0.00 17 509,590.14
=================================================================================================================
0.3% 0.29%
=====================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ----------------------------------------------------------------------------------------------------------------------------
Excluding Repos 0 0.00 0 0.00
Repos
Total
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: May-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
- -----------------------------------------------------------------------------------------------------------------
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
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
0.00 0.00
0.00 0.00
-------------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00 0.00
===============================================================================
Net Current
Unrecov. Pass Thru Period Net Cumulative
Advances Proceeds Gain/(Loss) Gain/(Loss)
- ----------------------------------------------------------------------------------------
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
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
0.00 0.00
0.00 0.00
- ---------------------------------------------------------------------------------------
0.00 0.00 0.00 0.00
=======================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT #1
REMITTANCE REPORT
REPORTING MONTH: May-97 Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current
Cert. Certificate Certificate Carryover Principal Principal
Class Balances Balances Principal Due Paid
- ------------------------------------------------------------------------------------------------------------------------------
A-1 33,741,000.00 33,741,000.00 0.00 1,494,959.94 1,494,959.94
A-1 Outstanding Writedown 0.00 0.00
A-2 32,767,000.00 32,767,000.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00
A-3 22,379,000.00 22,379,000.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00
A-4 14,096,000.00 14,096,000.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00
A-5 33,982,000.00 33,982,000.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00
M 15,615,000.00 15,615,000.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00
B-1 16,953,000.00 16,953,000.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00
B-2 8,923,192.00 8,923,192.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00
----------------------------------------------------------------------------------------------------
178,456,192.00 178,456,192.00 0.00 1,494,959.94 1,494,959.94
===================================================================================================
Ending Ending Principal Paid
Carryover Writedown Certificate Pool Per $1,000
Principal Amounts Balances Factor Denomination
- -------------------------------------------------------------------------------------------------------------------------------
A-1 0.00 0.00 32,246,040.06 95.56931% 44.31
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 0.00 32,767,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 0.00 22,379,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 0.00 14,096,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 0.00 33,982,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 0.00 0.00 15,615,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 0.00 16,953,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 0.00 8,923,192.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
---------------------------------------
0.00 0.00 176,961,232.06
=======================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: May-97 Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
----------------------------------------------------------------------------------------------------------------------------------
A-1 6.50000% 0.00 182,763.75 182,763.75 0.00
A-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-2 6.75000% 0.00 184,314.38 184,314.38 0.00
A-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-3 6.95000% 0.00 129,611.71 129,611.71 0.00
A-3 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-4 7.10000% 0.00 83,401.33 83,401.33 0.00
A-4 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00 0.00 0.00
A-5 7.37500% 0.00 208,847.71 208,847.71 0.00
A-5 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-5 Writedown Interest 0.00 0.00 0.00 0.00 0.00
M 7.77500% 0.00 101,172.19 101,172.19 0.00
M Carryover Interest 0.00 0.00 0.00 0.00 0.00
M Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-1 7.75000% 0.00 109,488.13 109,488.13 0.00
B-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-2 8.07500% 0.00 60,045.65 60,045.65 0.00
B-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
Limited Guarantee 0.00 0.00 0.00 0.00
X 0.00 338,046.53 338,046.53 (0.00)
R 0.00 0.00 0.00 0.00
Service Fee 0.00 148,713.49 148,713.49 0.00
----------------------------------------------------------------------------------------------
0.00 1,546,404.85 1,546,404.85 (0.00)
Disbursed as follows:
- ---------------------------------------------
X Proceeds to Class A-6 Liquidity Account 303,516.56
X Proceeds to Class B-1 Liquidity Account 34,529.97
Service Fee to Class B-1 Liquidity Account 148,713.49
---------------
1,059,644.83
=============
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
---------------------------------------------------------------------------------------------------------- -------------------
A-1 0.00 5.42 A-1 1,677,723.69
A-1 Carryover Interest 0.00 0.00
A-1 Writedown Interest 0.00 0.00
A-2 0.00 5.63 A-2 184,314.38
A-2 Carryover Interest 0.00 0.00
A-2 Writedown Interest 0.00 0.00
A-3 0.00 5.79 A-3 129,611.71
A-3 Carryover Interest 0.00 0.00
A-3 Writedown Interest 0.00 0.00
A-4 0.00 5.92 A-4 83,401.33
A-4 Carryover Interest 0.00 0.00
A-4 Writedown Interest 0.00 0.00
A-5 0.00 6.15 A-5 208,847.71
A-5 Carryover Interest 0.00 0.00
A-5 Writedown Interest 0.00 0.00
M 0.00 6.48 A-6 101,172.19
M Carryover Interest 0.00 0.00
M Writedown Interest 0.00 0.00
B-1 0.00 6.46 B-1 109,488.13
B-1 Carryover Interest 0.00 0.00
B-1 Writedown Interest 0.00 0.00
B-2 0.00 6.73 B-2 60,045.65
B-2 Carryover Interest 0.00 0.00
B-2 Writedown Interest 0.00 0.00
Limited Guarantee 0.00 Limited Guarantee 0.00
X (0.00) X 338,046.53
R 0.00 R 0.00
Service Fee 0.00 148,713.49
--------------- -----------------
3,041,364.79
(0.00) =================