OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: JULY 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 12
REMITTANCE REPORT
REPORTING MONTH: JUNE 30, 1997 Page 1 of 6
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
- ------------------------------------------------------------------------------------------------------------------------------------
198,054,500.71 (524,740.05) (941,805.72) (682,069.62) 0.00 195,905,885.32 1,854,112.89 165,045.42 1,689,067.47
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
433,092.53 0.00 -1,767.53 1,720.94 433,045.94 0.00 0.00 433,045.94 1,720.94
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
324,819.65 0.00 -1,325.65 1,290.71 324,784.71 0.00 0.00 324,784.71 1,290.71
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
216,545.77 0.00 -883.77 860.47 216,522.47 0.00 0.00 216,522.47 860.47
====================================================================================================================================
Certificate Account
- ------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ------------------------------------------------------------------------------------------------
731,582.97 2,139,839.97 1,791,351.26 (3,587,894.99) 2,262.37 1,077,141.58
================================================================================================
P&I Advances at Distribution Date
- -------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- -------------------------------------------------------------
1,616,916.65 1,515,233.98 1,783,646.38 1,885,329.05
=============================================================
Amount
Liquidation Reserve Available for
Proceeds Fund Draw Distribution
- --------------------------------------------------
471,800.04 0.00 3,792,458.70
==================================================
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
======================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: JULY 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 12
REMITTANCE REPORT
REPORTING MONTH: JUNE 30, 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 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
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 less than or equal to 2.75% Y
(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 198,054,500.71
--------------------
14.156% N
====================
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 7,376,620.46 195,905,885.32 3.77%
1st Preceding Mo 6,631,574.15 198,054,500.71 3.35%
2nd Preceding Mo 6,410,745.32 199,776,274.57 3.21%
Divided by 3
-------------
3.44%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 10,482,048.26 195,905,885.32 5.35%
1st Preceding Mo 9,498,685.85 198,054,500.71 4.80%
2nd Preceding Mo 9,118,247.60 199,776,274.57 4.56%
Divided by 3
-------------
4.90%
=============
Cumulative loss ratio:
Cumulative losses 1,213,234.68
----------------------
Divided by Initial Certificate Principal 215,662,295.00 0.563%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 210,269.58 198,054,500.71
1st Preceding Mo 149,994.51 199,776,274.57
2nd Preceding Mo 172,801.69 201,726,190.22
1.071%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 7, 1997
REMITTANCE REPORT POOL REPORT # 12
REPORTING MONTH: JUNE 30, 1997 Page 3 of 6
Delinquency Analysis
Active Repos
31 to 59 days 60 to 89 days 90 days and Over Total Delinq. Outstanding
No. of Principal Principal Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance # Balance # Balance
---------------------------------------------------------------------------------------------------------------------
Excluding Repos 7,160 191,844,666.98 114 3,021,281.81 43 1,411,267.13 63 2,059,081.52 220 6,491,630.46 133 4,061,218.34
Repos 133 4,061,218.34 3 84,145.99 17 451,704.44 110 3,454,567.37 130 3,990,417.80
---------------------------------------------------------------------------------------------------------------------
Total 7,293 195,905,885.32 117 3,105,427.80 60 1,862,971.57 173 5,513,648.89 350 10,482,048.26
=====================================================================================================================
4.8% 5.35%
=======================
Repossession Analysis
Reversal Current Month
(Redemption) Repos Cumulative Repos
Principal Principal Principal
# Balance # Balance # Balance
-------------------------------------------------------------
Excluding Repos -2 (12,405.18) 37 1,078,156.27 310 8,366,114.20
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 7, 1997
REMITTANCE REPORT POOL REPORT # 12
REPORTING MONTH: JUNE 30, 1997
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)
- ------------------------------------------------------------------------------------------------------------------------------------
072330-4 CARPENTER 58,477.56 55,650.00 0.00 55,650.00 6,498.42 49,151.58 6,618.26 42,533.32 (15,944.24)
090679-2 JAGGERS 26,261.18 22,500.00 2,136.66 24,636.66 1,887.00 22,749.66 1,742.76 21,006.90 (5,254.28)
090609-9 HANCOCK 18,424.49 22,500.00 383.52 22,883.52 2,084.00 20,799.52 1,485.00 19,314.52 890.03
094642-6 JONES 25,743.24 25,800.00 101.51 25,901.51 1,849.00 24,052.51 1,915.90 22,136.61 (3,606.63)
088505-3 SWARTS 30,253.25 27,700.00 0.00 27,700.00 2,233.00 25,467.00 3,550.80 21,916.20 (8,337.05)
087574-0 JENNESS 29,138.84 28,000.00 1,325.54 29,325.54 75.00 29,250.54 1,263.32 27,987.22 (1,151.62)
088460-1 MCCULLOUGH 15,031.71 16,200.00 553.32 16,753.32 486.00 16,267.32 965.36 15,301.96 270.25
094898-4 GORSUCH 32,234.49 26,400.00 1,551.37 27,951.37 792.00 27,159.37 1,823.75 25,335.62 (6,898.87)
088239-9 ELMY 16,624.52 18,400.00 537.59 18,937.59 3,884.00 15,053.59 1,403.50 13,650.09 (2,974.43)
088916-2 WATKINS 30,164.17 24,500.00 1,033.86 25,533.86 3,372.50 22,161.36 2,286.20 19,875.16 (10,289.01)
089238-0 SARKOZI 22,266.58 10,000.00 803.16 10,803.16 1,014.75 9,788.41 1,767.78 8,020.63 (14,245.95)
088797-6 STROTHER 26,403.93 26,900.00 1,650.68 28,550.68 2,357.00 26,193.68 2,180.22 24,013.46 (2,390.47)
091958-9 LOCKLEAR 23,669.82 23,400.00 0.00 23,400.00 2,760.95 20,639.05 1,340.50 19,298.55 (4,371.27)
091975-3 SCHAKEL 26,204.78 22,700.00 1,192.07 23,892.07 961.41 22,930.66 1,484.00 21,446.66 (4,758.12)
091148-7 MURPHY 29,458.93 24,011.00 1,803.56 25,814.56 1,201.33 24,613.23 1,307.40 23,305.83 (6,153.10)
003012-2 BECKELHIMER 11,103.71 6,250.00 0.00 6,250.00 71.04 6,178.96 703.53 5,475.43 (5,628.28)
018855-7 MITCHELL 13,393.02 2,000.00 0.00 2,000.00 0.00 2,000.00 1,829.12 170.88 (13,222.14)
091517-3 COLE 5,814.93 1,000.00 532.59 1,532.59 0.00 1,532.59 644.72 887.87 (4,927.06)
094227-6 MOSES 15,392.27 1,800.00 0.00 1,800.00 0.00 1,800.00 1,975.44 (175.44) (15,567.71)
089613-4 HOUCHINS 41,508.87 19,155.36 0.00 19,155.36 7,578.35 11,577.01 5,131.94 6,445.07 (35,063.80)
091662-7 CONTRERAS 23,062.47 21,900.00 21.01 21,921.01 5,740.00 16,181.01 2,617.84 13,563.17 (9,499.30)
092879-6 FLETCHER 28,939.00 28,600.00 1,394.72 29,994.72 3,766.50 26,228.22 3,073.76 23,154.46 (5,784.54)
093426-5 MONTOYA 34,373.12 30,900.00 1,250.97 32,150.97 3,518.44 28,632.53 3,658.50 24,974.03 (9,399.09)
093044-6 TAYLOR 28,724.75 29,000.00 43.95 29,043.95 4,409.31 24,634.64 1,577.35 23,057.29 (5,667.46)
090810-3 GIBSON 49,257.45 49,750.00 0.00 49,750.00 12,287.60 37,462.40 3,347.82 34,114.58 (15,142.87)
092521-4 GEANS 20,142.54 19,100.00 0.00 19,100.00 2740.59 16,359.41 1,369.44 14,989.97 (5,152.57)
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
=================================================================================================================
682,069.62 584,116.36 16,316.08 600,432.44 71,568.19 528,864.25 57,064.21 471,800.04 (210,269.58)(1,213,234.68)
=================================================================================================================
-0.01%
================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: JULY 7, 1997
REMITTANCE REPORT POOL REPORT # 12
REPORTING MONTH: JUNE 30, 1997
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 27,682,205.71 (2,148,615.39) 0.00 0.00 25,533,590.32
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
--------------------------------------------------------------------------------------------
215,662,295.00 198,054,500.71 (2,148,615.39) 0.00 0.00 195,905,885.32
=======================================================================================
Principal Paid
Cert. Pool Per $1,000
Class Factor Denomination
- ---------------------------------------------------------------------
A-1 56.37799% 47.44
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: JULY 7, 1997
REMITTANCE REPORT POOL REPORT # 12
REPORTING MONTH: JUNE 30, 1997
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000
Class Rate Balance Accrual Paid Shortfall Balance Denomination
------------------------------------------------------------------------------------------------
A-1 5.79750% 0.00 133,739.66 133,739.66 0.00 0.00 4.83
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 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 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 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 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 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 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 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 579,365.08 401,372.45 273,625.56 127,746.89 707,111.97
Service Fee 165,045.42 165,045.42 0.00 0.00
------------------------------------------------------------------
579,365.08 1,771,590.20 1,643,843.31 127,746.89 707,111.97
CUMULATIVE UNPAID "X" 707,111.97
CUMULATIVE UNPAID TURBO 506,122.71
-------------------
CUMULATIVE TOTAL LOSSES 1,213,234.68
-------------------
Cert. TOTAL
Class DISTRIBUTION
- -----------------------------------------
A-1 2,282,355.05
A-1 Carryover Interest
A-1 Writedown Interest
A-2 201,648.33
A-2 Carryover Interest
A-2 Writedown Interest
A-3 191,404.17
A-3 Carryover Interest
A-3 Writedown Interest
A-4 138,682.25
A-4 Carryover Intrest
A-4 Writedown Interest
A-5 206,231.25
A-5 Carryover Interest
A-5 Writedown Interest
A-6 129,393.33
A-6 Carryover Interest
A-6 Writedown Interest
B-1 118,767.79
B-1 Carryover Interest
B-1 Writedown Interest
B-2 85,305.55
B-2 Carryover Interest
B-2 Writedown Interest
X 273,625.56
Service Fee 165,045.42
---------------------
3,792,458.70