OAKWOOD MORTGAGE INVESTORS, INC. 1996-C REPORT DATE: August 6, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 10
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jul-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
- ------------------------------------------------------------------------------------------------------------------------------------
253,540,013.36 (439,216.42) (809,012.12) (508,093.61) 0.00 251,783,691.21 2,276,060.60 211,283.34
====================================================================================================================================
Scheduled Amount
Pass Thru Liquidation Reserve Available for
Interest Proceeds Fund Draw Distribution
- -------------------------------------------------------------
2,064,777.26 380,786.27 0.00 3,905,075.41
=============================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
1,359,358.17 0.00 -5,402.17 5,532.21 1,359,488.21 0.00 0.00 1,359,488.21 5,532.21
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
454,974.98 0.00 -1,808.10 1,851.62 455,018.50 0.00 0.00 455,018.50 1,851.62
====================================================================================================================================
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
- ------------------------------------------------------------------------------------------------------------------------------------
798,756.06 0.00 -3,174.30 3,250.71 798,832.47 0.00 0.00 798,832.47 3,250.71
====================================================================================================================================
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
- --------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- --------------------------------------------------------------------------------------------------------------------------------
867,869.11 1,746,502.03 2,201,061.39 4,006,486.97 2,671.64 811,617.20
================================================================================================================================
P&I Advances at Distribution Date
----------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
----------------------------------------------------------------------------------
1,803,499.75 1,730,910.55 1,508,514.42 1,581,103.62
==================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Jul-97
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 253,540,013.36
--------------------
14.953% N
====================
REPORT DATE: August 6, 1997
POOL REPORT # 10
Page 2 of 6
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 7,558,496.64 251,783,691.21 3.00%
1st Preceding Mo 6,935,921.73 253,540,013.36 2.74%
2nd Preceding Mo 5,974,832.58 255,259,537.36 2.34%
Divided by 3
-------------
2.69%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 11,874,082.62 251,783,691.21 4.72%
1st Preceding Mo 10,902,932.90 253,540,013.36 4.30%
2nd Preceding Mo 9,806,833.01 255,259,537.36 3.84%
Divided by 3
-------------
4.29%
=============
Cumulative loss ratio:
Cumulative losses 592,391.00
------------------------
Divided by Initial Certificate Principal 270,791,224.00 0.219%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 127,307.34 251,783,691.21
1st Preceding Mo 83,982.23 253,540,013.36
2nd Preceding Mo 120,139.15 255,259,537.36
0.524%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: August 6, 1997
REMITTANCE REPORT POOL REPORT # 10
REPORTING MONTH: Jul-97 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 7,638 247,640,280.46 132 4,208,529.22 50 1,712,800.04 48 1,865,661.82
Repos 121 4,143,410.75 4 107,056.76 12 317,027.53 103 3,663,007.25
-----------------------------------------------------------------------------------------------------
Total 7,759 251,783,691.21 136 4,315,585.98 62 2,029,827.57 151 5,528,669.07
=====================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
----------------------------------------------------------------------------------------------------------------
Excluding Repos 230 7,786,991.08 121 4,143,410.75 0 0.00 34 1,002,397.17 214 6,592,304.65
Repos 119 4,087,091.54
---------------------------
Total 349 11,874,082.62
===========================
4.5% 4.72%
===========================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: August 6, 1997
REMITTANCE REPORT POOL REPORT # 10
REPORTING MONTH: Jul-97
Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated
Account Customer Principal Sales Insur. Total Repossession
Number Name Balance Proceeds Refunds Proceeds Expenses
- ------------------------------------------------------------------------------------------------------------------------
100172-6 Young, Pamela 24,562.26 20,400.00 2,543.44 22,943.44 2,673.92
095563-3 Travis, Jessie 16,262.18 17,400.00 1,300.14 18,700.14 782.15
095666-4 Gullette, Chris 22,767.14 20,400.00 109.25 20,509.25 5,603.38
096836-2 Griffin, Rachel 19,094.80 19,400.00 407.85 19,807.85 3,293.63
102922-2 Adcox, Cynthia 18,413.65 15,500.00 744.00 16,244.00 805.00
100391-2 McElreath, Raymon 27,696.29 22,000.00 1,385.31 23,385.31 660.00
097408-9 Clark, Wayne 28,438.17 24,400.00 418.23 24,818.23 1,098.00
099305-5 Sansom, Patricia 21,191.00 22,600.00 0.00 22,600.00 2,336.25
096542-6 Chitty, James 32,950.32 31,500.00 1,717.70 33,217.70 4,497.55
082655-2 Aguilar, German 21,538.79 4,500.00 682.56 5,182.56 450.00
099437-6 Gray, Tammy 14,806.36 4,100.00 115.51 4,215.51 1,197.00
098255-3 Lightfoot, Vincent 11,492.04 6,000.00 96.63 6,096.63 1,071.73
102315-9 Oliver, Richard 36,052.68 31,500.00 2,100.62 33,600.62 3,464.00
102642-6 Hunter, Karen 21,516.13 20,300.00 0.00 20,300.00 1,559.00
097955-9 Moore, Eric 20,992.79 18,400.00 172.04 18,572.04 4,694.37
097656-3 Pearson, Rose 48,422.87 49,650.00 0.00 49,650.00 3,420.50
096097-1 Roberts, Tony 56,145.10 63,850.00 0.00 63,850.00 2,423.60
097842-9 Vowell, Billy 34,027.00 30,400.00 2,083.31 32,483.31 2,063.64
102652-5 Stokes, Kevin 31,724.04 31,300.00 0.00 31,300.00 4,616.00
0.00
0.00
----------------------------------------------------------------------------------------
19 508,093.61 453,600.00 13,876.59 467,476.59 46,709.72
========================================================================================
As a percentage of the aggregate cut-off date principal balance
Net Net Current
Account Customer Liquidation Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Number Name Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------------------------------------------------------------------------------------
100172-6 Young, Pamela 20,269.52 1,368.18 0.00 18,901.34 (5,660.92)
095563-3 Travis, Jessie 17,917.99 1,744.61 0.00 16,173.38 (88.80)
095666-4 Gullette, Chris 14,905.87 2,062.88 0.00 12,842.99 (9,924.15)
096836-2 Griffin, Rachel 16,514.22 1,771.14 0.00 14,743.08 (4,351.72)
102922-2 Adcox, Cynthia 15,439.00 2,000.35 0.00 13,438.65 (4,975.00)
100391-2 McElreath, Raymon 22,725.31 1,269.92 0.00 21,455.39 (6,240.90)
097408-9 Clark, Wayne 23,720.23 2,773.44 0.00 20,946.79 (7,491.38)
099305-5 Sansom, Patricia 20,263.75 1,179.15 0.00 19,084.60 (2,106.40)
096542-6 Chitty, James 28,720.15 2,661.05 0.00 26,059.10 (6,891.22)
082655-2 Aguilar, German 4,732.56 1,943.76 0.00 2,788.80 (18,749.99)
099437-6 Gray, Tammy 3,018.51 1,715.76 0.00 1,302.75 (13,503.61)
098255-3 Lightfoot, Vincent 5,024.90 1,811.46 0.00 3,213.44 (8,278.60)
102315-9 Oliver, Richard 30,136.62 2,342.97 0.00 27,793.65 (8,259.03)
102642-6 Hunter, Karen 18,741.00 928.70 0.00 17,812.30 (3,703.83)
097955-9 Moore, Eric 13,877.67 1,537.28 0.00 12,340.39 (8,652.40)
097656-3 Pearson, Rose 46,229.50 3,530.31 0.00 42,699.19 (5,723.68)
096097-1 Roberts, Tony 61,426.40 5,343.84 0.00 56,082.56 (62.54)
097842-9 Vowell, Billy 30,419.67 1,934.16 0.00 28,485.51 (5,541.49)
102652-5 Stokes, Kevin 26,684.00 2,061.64 0.00 24,622.36 (7,101.68)
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
------------------------------------------------------------------------------------
19 420,766.87 39,980.60 0.00 380,786.27 (127,307.34) (592,391.00)
====================================================================================
0%
================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: August 6, 1997
REMITTANCE REPORT POOL REPORT # 10
REPORTING MONTH: Jul-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 33,048,789.64 (1,756,322.15) 0.00 31,292,467.49 62.21166% 34.92
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
--------------------------------------------------------------------------
270,791,224.00 253,540,013.64 (1,756,322.15) 0.00 251,783,691.49
==========================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-C
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: August 6, 1997
REMITTANCE REPORT POOL REPORT # 10
REPORTING MONTH: Jul-97
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
-----------------------------------------------------------------
A-1 5.78969% 0.00 164,766.93 164,766.93 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 6.45000% 0.00 252,463.75 252,463.75 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 6.75000% 0.00 199,125.00 199,125.00 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 7.00000% 0.00 121,916.67 121,916.67 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 7.35000% 0.00 340,635.75 340,635.75 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
A-6 7.65000% 0.00 151,055.63 151,055.63 0.00
A-6 Carryover Interest 0.00 0.00 0.00 0.00 0.00
A-6 Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-1 7.96000% 0.00 170,649.13 170,649.13 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 9.31000% 0.00 94,544.79 94,544.79 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
X 465,083.66 569,619.61 442,312.27 127,307.34
R - 0.00 0.00 0.00 0.00
Service Fee 0.00 211,283.34 211,283.34 0.00
----------------------------------------------------------
465,083.66 2,276,060.60 2,148,753.26 127,307.34
Class B Liquidity Account 0.00
===============
2,148,753.26
===============
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
------------------------------------------------
A-1 0.00 4.99 A-1 1,921,089.08
A-1 Carryover Interest 0.00 0.00
A-1 Writedown Interest 0.00 0.00
A-2 0.00 5.38 A-2 252,463.75
A-2 Carryover Interest 0.00 0.00
A-2 Writedown Interest 0.00 0.00
A-3 0.00 5.63 A-3 199,125.00
A-3 Carryover Interest 0.00 0.00
A-3 Writedown Interest 0.00 0.00
A-4 0.00 5.83 A-4 121,916.67
A-4 Carryover Interest 0.00 0.00
A-4 Writedown Interest 0.00 0.00
A-5 0.00 6.13 A-5 340,635.75
A-5 Carryover Interest 0.00 0.00
A-5 Writedown Interest 0.00 0.00
A-6 0.00 6.38 A-6 151,055.63
A-6 Carryover Interest 0.00 0.00
A-6 Writedown Interest 0.00 0.00
B-1 0.00 6.63 B-1 170,649.13
B-1 Carryover Interest 0.00 0.00
B-1 Writedown Interest 0.00 0.00
B-2 0.00 7.76 B-2 94,544.79
B-2 Carryover Interest 0.00 0.00
B-2 Writedown Interest 0.00 0.00
X 592,391.00 X 442,312.27
R 0.00 R 0.00
Service Fee 0.00 211,283.34
---------------
592,391.00 3,905,075.41
Class B Liquidity Account 0.00
===============
3,905,075.41
===============