OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: AUGUST 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 13
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: JULY 31, 1997
Scheduled Principal Balance of Contracts
- ------------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ------------------------------------------------------------------------------------------------------------------------------
195,905,885.32 (523,214.44) (928,664.43) (538,302.91) 0.00 193,915,703.54
==============================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for
Interest Fee Interest Proceeds Fund Draw Distribution
- -----------------------------------------------------------------------------------------------------------------------------
1,837,816.38 163,254.90 1,674,561.48 378,001.99 0.00 3,667,697.24
=============================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
433,045.94 0.00 -1,720.94 1,762.38 433,087.38 0.00 0.00 433,087.38 1,762.38
====================================================================================================================================
Reserve Fund Required Balance
- --------------------------------------
Before Current After Current
Distribution Distribution
- --------------------------------------
431,325.00 431,325.00
======================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
324,784.71 0.00 -1,290.71 1,321.78 324,815.78 0.00 0.00 324,815.78 1,321.78
====================================================================================================================================
Reserve Fund Required Balance
-------------------------------------
Before Current After Current
Distribution Distribution
- --------------------------------------
323,494.00 323,494.00
======================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
216,522.47 0.00 -860.47 881.18 216,543.18 0.00 0.00 216,543.18 881.18
====================================================================================================================================
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
- --------------------------------------------------------------------------------
1,077,141.58 1,988,893.58 1,839,769.22 (4,004,990.65) 2,981.60 903,795.33
================================================================================
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
1,885,329.05 1,774,957.04 1,676,359.87 1,786,731.88
================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: AUGUST 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 13
REMITTANCE REPORT
REPORTING MONTH: JULY 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 195,905,885.32
--------------------
14.311% N
===============
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 7,296,129.14 193,915,703.54 3.76%
1st Preceding Mo 7,376,620.46 195,905,885.32 3.77%
2nd Preceding Mo 6,631,574.15 198,054,500.71 3.35%
Divided by 3
-------------
3.63%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 10,427,143.86 193,915,703.54 5.38%
1st Preceding Mo 10,482,048.26 195,905,885.32 5.35%
2nd Preceding Mo 9,498,685.85 198,054,500.71 4.80%
Divided by 3
-------------
5.17%
=============
Cumulative loss ratio:
Cumulative losses 1,373,535.60
------------------------
Divided by Initial Certificate Principal 215,662,295.00 0.637%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 160,300.92 195,905,885.32
1st Preceding Mo 210,269.58 198,054,500.71
2nd Preceding Mo 149,994.51 199,776,274.57
1.056%
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: AUGUST 7, 1997
REMITTANCE REPORT POOL REPORT # 13
REPORTING MONTH: JULY 31, 1997 Page 3 of 6
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over
No. of Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance
--------------------------------------------------------------------------------------------------------------------
Excluding Repos 7,094 189,881,540.78 120 3,092,956.05 40 1,019,590.30 66 2,280,434.75
Repos 132 4,034,162.76 2 38,058.67 13 313,266.51 117 3,682,837.58
--------------------------------------------------------------------------------------------------------------------
Total 7,226 193,915,703.54 122 3,131,014.72 53 1,332,856.81 183 5,963,272.33
====================================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
- ------------------------------------------------------------------------------------------------------------------------------------
226 6,392,981.10 132 4,034,162.76 -4 (121,531.01) 25 641,459.26 331 8,886,042.45
132 4,034,162.76
- ---------------------------
358 10,427,143.86
===========================
5.0% 5.38%
===========================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: AUGUST 7, 1997
REMITTANCE REPORT POOL REPORT # 13
REPORTING MONTH: JULY 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
- --------------------------------------------------------------------------------------------------------
088623-4 BAKER 25,050.95 22,400.00 1,450.92 23,850.92 4,629.66 19,221.26 1,656.72
086799-4 CONNER 22,601.32 21,231.00 1,898.48 23,129.48 3,833.35 19,296.13 2,255.20
091737-7 WILSON 17,743.01 18,700.00 384.48 19,084.48 1,949.00 17,135.48 1,869.84
088033-6 LEVI 27,035.90 25,900.00 1,197.51 27,097.51 5,598.87 21,498.64 1,159.95
092447-2 MESSER 52,036.15 47,650.00 1,255.32 48,905.32 11,134.08 37,771.24 5,762.02
093925-6 BARNES 27,957.68 26,000.00 0.00 26,000.00 2,033.18 23,966.82 1,906.86
088379-3 OXENDINE 19,994.09 23,900.00 1,538.08 25,438.08 1,252.00 24,186.08 1,112.40
088349-6 ARNOLD 21,593.55 22,900.00 1,331.99 24,231.99 1,989.50 22,242.49 1,711.62
092176-7 BRIGGS 22,635.17 22,900.00 0.00 22,900.00 958.04 21,941.96 1,277.96
088796-8 SOLVERSON 31,840.80 28,900.00 0.00 28,900.00 1,437.00 27,463.00 2,105.76
092198-1 ROWDEN 35,390.35 30,400.00 1,870.22 32,270.22 2,991.00 29,279.22 4,414.30
088011-2 HOUSTON 34,464.18 30,400.00 2,246.11 32,646.11 4,234.02 28,412.09 2,660.42
094614-5 IVY 43,626.45 44,900.00 0.00 44,900.00 5,840.00 39,060.00 3,510.96
001868-9 KELLEY 8,285.25 2,500.00 0.00 2,500.00 500.00 2,000.00 780.40
002992-6 ROSE 4,932.05 1,800.00 36.99 1,836.99 0.00 1,836.99 886.80
011404-1 MCCASLINE 9,691.47 3,500.00 84.54 3,584.54 0.00 3,584.54 1,253.90
088646-5 PATTERSON 4,760.01 1,000.00 195.42 1,195.42 0.00 1,195.42 404.49
092706-1 COX 43,420.78 15,250.00 2,048.27 17,298.27 4,930.00 12,368.27 3,342.08
007014-4 HALL 8,371.56 5,400.00 0.00 5,400.00 3,172.50 2,227.50 917.00
093658-3 STRUTH 19,175.97 19,250.00 984.79 20,234.79 1,762.50 18,472.29 1,082.92
090758-4 VINSON 29,642.01 28,550.00 2,241.99 30,791.99 3,125.80 27,666.19 3,258.72
093424-0 GEORGE 28,054.21 28,500.00 0.00 28,500.00 4,423.14 24,076.86 3,570.16
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
=====================================================================================
538,302.91 471,931.00 18,765.11 490,696.11 65,793.64 424,902.47 46,900.48
=====================================================================================
Net Current
Account Customer Pass Thru Period Net Cumulative
Number Name Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------------------------------------
088623-4 BAKER 17,564.54 (7,486.41)
086799-4 CONNER 17,040.93 (5,560.39)
091737-7 WILSON 15,265.64 (2,477.37)
088033-6 LEVI 20,338.69 (6,697.21)
092447-2 MESSER 32,009.22 (20,026.93)
093925-6 BARNES 22,059.96 (5,897.72)
088379-3 OXENDINE 23,073.68 3,079.59
088349-6 ARNOLD 20,530.87 (1,062.68)
092176-7 BRIGGS 20,664.00 (1,971.17)
088796-8 SOLVERSON 25,357.24 (6,483.56)
092198-1 ROWDEN 24,864.92 (10,525.43)
088011-2 HOUSTON 25,751.67 (8,712.51)
094614-5 IVY 35,549.04 (8,077.41)
001868-9 KELLEY 1,219.60 (7,065.65)
002992-6 ROSE 950.19 (3,981.86)
011404-1 MCCASLINE 2,330.64 (7,360.83)
088646-5 PATTERSON 790.93 (3,969.08)
092706-1 COX 9,026.19 (34,394.59)
007014-4 HALL 1,310.50 (7,061.06)
093658-3 STRUTH 17,389.37 (1,786.60)
090758-4 VINSON 24,407.47 (5,234.54)
093424-0 GEORGE 20,506.70 (7,547.51)
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
=============================================
378,001.99 (160,300.92) (1,373,535.60)
===============================================
-0.01
==============
22
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: AUGUST 7, 1997
REMITTANCE REPORT POOL REPORT # 13
REPORTING MONTH: JULY 31, 1997
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Accelerated Ending Principal Paid
Cert. Certificate Certificate Principal Principal Writedown Certificate Pool Per $1,000
Class Balances Balances Payable Distribution Amounts Balances Factor Denomination
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 45,290,000.00 25,533,590.32 (1,990,181.78) 0.00 0.00 23,543,408.54 51.98368% 43.94
A-1 Outstanding Writedown 0.00 0.00 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 35,585,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 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 32,350,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 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 22,642,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 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 32,350,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 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 19,409,000.00 100.00000% 0.00
A-6 Outstanding Writedown 0.00 0.00 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 98.43507% 0.00
B-1 Outstanding Writedown 0.00 0.00 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 98.43507% 0.00
B-2 Outstanding Writedown 0.00 0.00 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
------------------------------------------------------------------------------------
215,662,295.00 195,905,885.32 (1,990,181.78) 0.00 0.00 193,915,703.54
=====================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: AUGUST 7, 1997
REMITTANCE REPORT POOL REPORT # 13
REPORTING MONTH: JULY 31, 1997
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 5.78969% 0.00 127,299.41 127,299.41 0.00 0.00 4.99 A-1 2,117,481.19
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-2 201,648.33
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-3 191,404.17
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-4 138,682.25
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-5 206,231.25
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-6 129,393.33
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-1 118,767.79
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 85,305.55
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 707,111.97 394,201.97 315,528.48 78,673.49 785,785.44 X 315,528.48
Service Fee 163,254.90 163,254.90 0.00 0.00 163,254.90
------------------------------------------------------------------- ----------
707,111.97 1,756,188.95 1,677,515.46 78,673.49 785,785.44 3,667,697.24