OAKWOOD MORTGAGE INVESTORS, INC. 1996-C REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 9
REMITTANCE REPORT
REPORTING MONTH: Jun-97 Page 1 of 6
Scheduled Principal Balance of Contracts
- ---------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ---------------------------------------------------------------------------------------------------------
255,259,537.36 (439,915.54) (874,699.12) (404,909.34) 0.00 253,540,013.36 2,283,841.96
=========================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for
Fee Interest Proceeds Fund Draw Distribution
- ---------------------------------------------------------------------------
212,716.28 2,071,125.68 320,927.11 0.00 3,919,383.73
===========================================================================
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
- ---------------------------------------------------------------------------------------------------------------------------------
1,359,504.42 0.00 -5,548.42 5,402.17 1,359,358.17 0.00 0.00 1,359,358.17 5,402.17
=================================================================================================================================
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 Excess
- ------------------------------------------------------------------------------------------------------------------------------------
455,023.92 0.00 -1,857.04 1,808.10 454,974.98 0.00 0.00 454,974.98 1,808.10
====================================================================================================================================
Class B
Liquidity Account
Beginning Investment Balance Before Reserve Reserve Balance After
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit Current Distribution Excess
- ------------------------------------------------------------------------------------------------------------------------------------
798,841.99 0.00 -3,260.23 3,174.30 798,756.06 0.00 0.00 798,756.06 3,174.30
====================================================================================================================================
Reserve Fund Required Balance
- ---------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------
1,353,956.00 1,353,956.00
=================================
Reserve Fund Required Balance
- ---------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------
453,166.88 453,166.88
=================================
Reserve Fund Required Balance
- ---------------------------------
Before Current After Current
Distribution Distribution
- ---------------------------------
795,581.76 795,581.76
=================================
Certificate Account P&I Advances at Distribution Date
- ----------------------------------------------------------------------------- -----------------------------------------------------
Beginning Deposits Investment Ending Beginning Recovered Current Ending
Balance Principal Interest Distributions Interest Balance Balance Advances Advances Balance
- -----------------------------------------------------------------------------
1,120,982.51 1,695,422.93 2,166,367.40 4,118,024.74 3,121.01 867,869.11 1,609,309.35 1,546,490.03 1,740,680.43 1,803,499.75
============================================================================= =====================================================
Page 2 of 6
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 9
REMITTANCE REPORT
REPORTING MONTH: Jun-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 255,259,537.36
--------------
14.852% N
==============
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-------------------------------------------------
Current Mo 6,935,921.73 253,540,013.36 2.74%
1st Preceding Mo 5,974,832.58 255,259,537.36 2.34%
2nd Preceding Mo 5,541,047.43 257,075,118.00 2.16%
Divided by 3
------
2.41%
======
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------
Current Mo 10,902,932.90 253,540,013.36 4.30%
1st Preceding Mo 9,806,833.01 255,259,537.36 3.84%
2nd Preceding Mo 8,802,438.53 257,075,118.00 3.42%
Divided by 3
-----
3.86%
=====
Cumulative loss ratio:
Cumulative losses 465,083.66
----------------
Divided by Initial Certificate Principal 270,791,224.00 0.172%
======
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------
Current Mo 83,982.23 253,540,013.36
1st Preceding Mo 120,139.15 255,259,537.36
2nd Preceding Mo 76,104.29 257,075,118.00
0.440%
======
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: June 6, 1997
REMITTANCE REPORT POOL REPORT # 9
REPORTING MONTH: Jun-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 7,705 249,883,310.44 125 3,928,421.31 39 1,295,835.81 52 2,040,931.90 216 7,265,189.02
Repos 106 3,656,702.92 1 38,589.86 16 524,846.21 88 3,074,307.81 105 3,637,743.88
------------------------------------------------------------------------------------------------------------------
Total 7,811 253,540,013.36 126 3,967,011.17 55 1,820,682.02 140 5,115,239.71 321 10,902,932.90
==================================================================================================================
4.1% 4.30%
===================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- ----------------------------------------------------------------------------
106 3,656,702.92 0 0.00 35 1,136,739.14 180 5,589,907.48
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: June 6, 1997
REMITTANCE REPORT POOL REPORT # 9
REPORTING MONTH: Jun-97
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
- ------------------------------------------------------------------------------------------------------------------------------------
099764-3 Orange, Leon 23,136.53 21,000.00 151.17 21,151.17 1,057.95 20,093.22 1,612.90
095197-0 Rainey, Linda 32,156.50 30,200.00 1,604.22 31,804.22 1,581.00 30,223.22 1,733.40
099299-0 Smith, Don 31,017.53 31,100.00 923.55 32,023.55 1,865.00 30,158.55 879.90
101527-0 Russell, John 32,637.26 28,900.00 1,686.06 30,586.06 1,380.94 29,205.12 2,616.18
099402-0 Butler, Fleming 20,602.69 24,500.00 2,016.75 26,516.75 3,608.33 22,908.42 1,974.08
098518-4 Mace, William 20,732.29 21,200.00 0.00 21,200.00 1,285.00 19,915.00 886.76
100601-4 Ortega, Roman 10,165.91 2,000.00 71.47 2,071.47 200.00 1,871.47 603.21
101135-2 Durham, Robin 12,876.67 3,690.00 94.53 3,784.53 1,793.00 1,991.53 1,004.55
098373-4 Pogue, Craig 66,919.27 60,200.00 2,063.24 62,263.24 4,250.00 58,013.24 2,646.40
103336-4 Cochran, Shana 19,007.12 19,100.00 546.64 19,646.64 3,396.94 16,249.70 1,796.04
100445-6 Russell, David 52,056.26 49,900.00 1,360.04 51,260.04 1,703.20 49,556.84 3,133.62
099977-1 Guerrero, Benjamin 49,758.51 38,502.22 0.00 38,502.22 1,000.00 37,502.22 3,853.60
097280-2 Fletcher, Johnny 33,842.80 32,400.00 211.98 32,611.98 4,247.00 28,364.98 2,385.76
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
----------------------------------------------------------------------------------------------------
404,909.34 362,692.22 10,729.65 373,421.87 27,368.36 346,053.51 25,126.40
====================================================================================================
Net Current
Account Customer FHA Insurance Pass Thru Period Net Cumulative
Number Name Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -------------------------------------------------------------------------------------------------
099764-3 Orange, Leon 0.00 18,480.32 (4,656.21)
095197-0 Rainey, Linda 0.00 28,489.82 (3,666.68)
099299-0 Smith, Don 0.00 29,278.65 (1,738.88)
101527-0 Russell, John 0.00 26,588.94 (6,048.32)
099402-0 Butler, Fleming 0.00 20,934.34 331.65
098518-4 Mace, William 0.00 19,028.24 (1,704.05)
100601-4 Ortega, Roman 0.00 1,268.26 (8,897.65)
101135-2 Durham, Robin 0.00 986.98 (11,889.69)
098373-4 Pogue, Craig 0.00 55,366.84 (11,552.43)
103336-4 Cochran, Shana 0.00 14,453.66 (4,553.46)
100445-6 Russell, David 0.00 46,423.22 (5,633.04)
099977-1 Guerrero, Benjamin 0.00 33,648.62 (16,109.89)
097280-2 Fletcher, Johnny 0.00 25,979.22 (7,863.58)
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
--------------------------------------------------------------
0.00 320,927.11 (83,982.23) (465,083.66)
==============================================================
0.00
===========
As a percentage of the aggregate cut-off date principal balance
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: June 6, 1997
REMITTANCE REPORT POOL REPORT # 9
REPORTING MONTH: Jun-97
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Ending Principal Paid
Cert. Certificate Certificate Principal Writedown Certificate Pool Per $1,000
Class Balances Balances Payable Amounts Balances Factor Denomination
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 50,300,000.00 34,768,313.64 (1,719,524.00) 0.00 33,048,789.64 65.70336% 34.19
A-1 Outstanding Writedown 0.00 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 46,970,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 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 35,400,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 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 20,900,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 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 55,614,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 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 23,695,000.00 100.00000% 0.00
A-6 Outstanding Writedown 0.00 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 25,726,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 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 12,186,224.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00 0.00 0.00 0.00
----------------------------------------------------------------------------
270,791,224.00 255,259,537.64 (1,719,524.00) 0.00 253,540,013.64
============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: June 6, 1997
REMITTANCE REPORT POOL REPORT # 9
REPORTING MONTH: Jun-97
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000 Cert. TOTAL
Class Rate Balance Accrual Paid Shortfall Balance Denomination Class DISTRIBUTION
---------------------------------------------------------------------------------------------------------
A-1 5.797% 0.00 167,974.42 167,974.42 0.00 0.00 4.83 A-1 1,887,498.42
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 6.450% 0.00 252,463.75 252,463.75 0.00 0.00 5.38 A-2 252,463.75
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 6.750% 0.00 199,125.00 199,125.00 0.00 0.00 5.63 A-3 199,125.00
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 7.000% 0.00 121,916.67 121,916.67 0.00 0.00 5.83 A-4 121,916.67
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 7.350% 0.00 340,635.75 340,635.75 0.00 0.00 6.13 A-5 340,635.75
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 7.650% 0.00 151,055.63 151,055.63 0.00 0.00 6.38 A-6 151,055.63
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 7.960% 0.00 170,649.13 170,649.13 0.00 0.00 6.63 B-1 170,649.13
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 9.310% 0.00 94,544.79 94,544.79 0.00 0.00 7.76 B-2 94,544.79
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 381,101.43 572,760.54 488,778.31 83,982.23 465,083.66 X 488,778.31
R 0.00 0.00 0.00 0.00 0.00 R 0.00
Service Fee 0.00 212,716.28 212,716.28 0.00 0.00 212,716.28
--------------------------------------------------------------------------------------------------
381,101.43 2,283,841.96 2,199,859.73 83,982.23 465,083.66 3,919,383.73
Class B Liquidity Account 0.00 0.00
------------ ------------
2,199,859.73 3,919,383.73
============ ============