OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jun-97
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- --------------------------------------------------------------------------------------------------
176,961,232.93 (271,620.83) (1,547,756.10) 0.00 0.00 175,141,856.00
==================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------
1,533,234.53 147,467.69 1,385,766.84 0.00 0.00 3,352,611.46 0.00 3,352,611.46
========================================================================================================================
Class M Liquidity Account
Beginning Investment Balance Before Reserve Reserve
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit
- -------------------------------------------------------------------------------------------------------------------------
303,516.56 0.00 0.00 560.28 304,076.84 0.00 0.00
=========================================================================================================================
Reserve Fund Required Balance
-------------------------------------
Balance After Before Current After Current
Current Distribution Excess Distribution Distribution
- ---------------------------------------- -------------------------------------
304,076.84 560.28 303,516.56 303,516.56
======================================== =====================================
Class B-1 Liquidity Account
Beginning Investment Balance Before Reserve Reserve
Balance Deposits Distrib. Interest Current Distribution Fund Draw Fund Deposit
- ----------------------------------------------------------------------------------------------------------------------------
183,243.46 0.00 0.00 338.23 183,581.69 0.00 144,882.69
============================================================================================================================
Reserve Fund Required Balance
-------------------------------------
Balance After Before Current After Current
Current Distribution Excess Distribution Distribution
- --------------------------------------- -------------------------------------
328,464.38 0.00 328,464.38 328,464.38
======================================= =====================================
Certificate Account
- ---------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------------
1,691,055.72 1,783,870.16 1,388,765.47 (3,043,143.28) 5,190.18 1,825,738.25
=============================================================================================
P&I Advances at Distribution Date
- -----------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- -----------------------------------------------------------
91,017.45 68,204.64 567,685.24 590,498.05
===========================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-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 less than or equal to 5% #DIV/0!
(c) Average 30 day Delinquency rate less than or equal to 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 less than or equal to 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 176,961,232.93
--------------
14.623% N
==============
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-----------------------------------------------------
[S] [C] [C] [C]
Current Mo 299,786.08 175,141,856.00 0.17%
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 1,823,714.64 175,141,856.00 1.04%
1st Preceding Mo 0.00 509,590.14 0.00%
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 0.00 175,141,856.00
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 # 2
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: Jun-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 5,337 175,001,936.67 48 1,384,009.23 11 299,786.08 0 0.00 59 1,683,795.31
Repos 6 139,919.33 6 139,919.33 0 0.00 0 0.00 6 139,919.33
---------------------------------------------------------------------------------------------------------------------
Total 5,343 175,141,856.00 54 1,523,928.56 11 299,786.08 0 0.00 65 1,823,714.64
=====================================================================================================================
1.2% 1.04%
===========================
Repossession Analysis
Active Repos Renewal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
----------------------------------------------------------------------------------
Excluding Repos 6 139,919.33 0 0.00 6 139,919.33 6 139,919.33
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
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
- ------------------------------------------------------------------------------------------------------------------
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 0.00
=========================================================================================
Net Current
Pass Thru Period Net Cumulative
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
=========================================
As a percentage of the aggregate cut-off date principal balance 0.00
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-97 Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current Ending
Cert. Certificate Certificate Carryover Principal Principal Carryover
Class Balances Balances Principal Due Paid Principal
- ----------------------------------------------------------------------------------------------------------------------------
A-1 33,741,000.00 32,246,040.06 0.00 1,819,376.93 1,819,376.93 0.00
A-1 Outstanding Writedown 0.00 0.00
A-2 32,767,000.00 32,767,000.00 0.00 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 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 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 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 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 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 0.00
B-2 Outstanding Writedown 0.00 0.00
----------------------------------------------------------------------------------------------
178,456,192.00 176,961,232.06 0.00 1,819,376.93 1,819,376.93 0.00
==============================================================================================
Ending Principal Paid
Cert. Writedown Certificate Pool Per $1,000
Class Amounts Balances Factor Denomination
- ---------------------------------------------------------------------------------------
A-1 0.00 30,426,663.13 90.17712% 53.92
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 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 22,379,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 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 33,982,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 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 16,953,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 8,923,192.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
-----------------------------
0.00 175,141,855.13
=============================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-B REPORT DATE: June 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-97 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 6.50000% 0.00 174,666.05 174,666.05 0.00 0.00 5.42
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 6.75000% 0.00 184,314.38 184,314.38 0.00 0.00 5.63
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 6.95000% 0.00 129,611.71 129,611.71 0.00 0.00 5.79
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 7.10000% 0.00 83,401.33 83,401.33 0.00 0.00 5.92
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 7.37500% 0.00 208,847.71 208,847.71 0.00 0.00 6.15
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
M 7.77500% 0.00 101,172.19 101,172.19 0.00 0.00 6.48
M Carryover Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
M Writedown Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00
B-1 7.75000% 0.00 109,488.13 109,488.13 0.00 0.00 6.46
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 8.07500% 0.00 60,045.65 60,045.65 0.00 0.00 6.73
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
Limited Guarantee 0.00 0.00 0.00 0.00 0.00
** X 0.00 334,219.71 334,219.71 (0.00) (0.00)
R (0.00) 0.00 0.00 0.00 (0.00)
** Service Fee 0.00 147,467.69 147,467.69 0.00 0.00
-----------------------------------------------------------------------------------
(0.00) 1,533,234.53 1,533,234.53 (0.00) (0.01)
Certificate Cert. TOTAL
Class Class DISTRIBUTION
-----------------------------------------
A-1 A-1 1,994,042.98
A-1 Carryover Interes
A-1 Writedown Interes
A-2 A-2 184,314.38
A-2 Carryover Interes
A-2 Writedown Interes
A-3 A-3 129,611.71
A-3 Carryover Interes
A-3 Writedown Interes
A-4 A-4 83,401.33
A-4 Carryover Interes
A-4 Writedown Interes
A-5 A-5 208,847.71
A-5 Carryover Interes
A-5 Writedown Interes
M A-6 101,172.19
M Carryover Interest
M Writedown Interest
B-1 B-1 109,488.13
B-1 Carryover Interes
B-1 Writedown Interes
B-2 B-2 60,045.65
B-2 Carryover Interes
B-2 Writedown Interes
Limited Guarantee Limited Guarantee 0.00
** X X 334,219.71
R R 0.00
** Service Fee 147,467.69
--------------
3,352,611.46
==============
** Disbursed as follows:
---------------------------------
X Proceeds to Class A-6 Liquidity Account 0.00
X Proceeds to Class B-1 Liquidity Account 144,882.69
Service Fee to Class B-1 Liquidity Account
--------------
1,388,351.85
==============