OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: OCTOBER 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 15
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: SEPTEMBER 30, 1997
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ---------------------------------------------------------------------------------------------------------------------------------
192,002,135.00 (521,852.53) (1,372,726.69) (1,037,044.17) 0.00 189,070,511.61 1,799,038.35
=================================================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for
Fee Interest Proceeds Fund Draw Distribution
- ---------------------------------------------------------------------------------------------------
160,001.78 1,639,036.57 762,322.98 0.00 4,455,940.55
===================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
433,120.43 0.00 -1,795.43 1,730.67 433,055.67 0.00 0.00 433,055.67 1,730.67
===================================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
324,840.57 0.00 -1,346.57 1,298.01 324,792.01 0.00 0.00 324,792.01 1,298.01
===================================================================================================================================
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
- -----------------------------------------------------------------------------------------------------------------------------------
216,559.71 0.00 -897.71 865.33 216,527.33 0.00 0.00 216,527.33 865.33
===================================================================================================================================
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
- -----------------------------------------------------------------------------------
710,136.77 2,940,341.94 1,853,244.62 (3,733,588.84) 2,097.78 1,772,232.27
===================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------------------
1,830,911.40 1,656,200.47 1,865,920.54 2,040,631.47
============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B REPORT DATE: OCTOBER 7, 1997
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 15
REMITTANCE REPORT
REPORTING MONTH: SEPTEMBER 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 <= 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 192,002,135.00
--------------
14.602% N
==============
Average 60 day delinquency ratio:
Over 60s Pool Balance %
-----------------------------------------------
Current Mo 6,920,600.12 189,070,511.61 3.66%
1st Preceding Mo 6,809,849.22 192,002,135.00 3.55%
2nd Preceding Mo 7,296,129.14 193,915,703.54 3.76%
Divided by 3
-------
3.66%
=======
Average 30 day delinquency ratio:
Over 30s Pool Balance %
----------------------------------------------
Current Mo 10,903,617.45 189,070,511.61 5.77%
1st Preceding Mo 11,275,310.44 192,002,135.00 5.87%
2nd Preceding Mo 10,427,143.86 193,915,703.54 5.38%
Divided by 3
-------
5.67%
=======
Cumulative loss ratio:
Cumulative losses 1,898,904.53
-------------------
Divided by Initial Certificate Principal 215,662,295.00 0.880%
======
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 274,721.19 192,002,135.00
1st Preceding Mo 250,647.74 193,915,703.54
2nd Preceding Mo 160,300.92 195,905,885.32
1.422%
=======
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: OCTOBER 7, 1997
REMITTANCE REPORT POOL REPORT # 15
REPORTING MONTH: SEPTEMBER 30, 1997 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 6,942 185,140,445.71 154 3,888,997.59 46 1,330,192.01 55 1,754,361.95 255 6,973,551.55
Repos 125 3,930,065.90 5 94,019.74 14 411,381.56 106 3,424,664.60 125 3,930,065.90
--------------------------------------------------------------------------------------------------------------
Total 7,067 189,070,511.61 159 3,983,017.33 60 1,741,573.57 161 5,179,026.55 380 10,903,617.45
==============================================================================================================
5.4% 5.77%
====================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
--------------------------------------------------------------------------------------------
Excluding Repos 125 3,930,065.90 -1 (34,925.83) 30 905,418.43 390 10,624,966.17
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: OCTOBER 7, 1997
REMITTANCE REPORT POOL REPORT # 15
REPORTING MONTH: SEPTEMBER 30, 1997 Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- ------------------------------------------------------------------------------------------------------------------------------
088721-6 Rader, Michael 61,429.33 51,250.00 6,225.12 57,475.12 5,542.57 51,932.55
092073-6 Pena, Eli 31,731.71 26,000.00 1,860.80 27,860.80 6,315.65 21,545.15
094399-3 Stewart, Otha 26,025.97 24,500.00 171.31 24,671.31 735.00 23,936.31
090510-9 Carter, Leonard 29,662.02 30,400.00 0.00 30,400.00 2,222.00 28,178.00
018679-1 Farmer, James 11,321.28 11,000.00 0.00 11,000.00 638.96 10,361.04
090947-3 Wyne, Robert 21,932.46 21,400.00 743.94 22,143.94 1,942.00 20,201.94
090576-0 Strickland, Jimmy 23,734.58 24,000.00 938.65 24,938.65 1,305.88 23,632.77
093597-3 Ussery Jr, Charles 41,918.06 41,650.00 1,108.86 42,758.86 1,249.50 41,509.36
092892-9 Garner II, Robert 28,364.51 26,400.00 1,565.98 27,965.98 2,237.00 25,728.98
089894-0 Tanner Jr, Mickey 32,025.87 28,650.00 1,929.91 30,579.91 4,109.50 26,470.41
089866-8 Godfrey, Martina 30,909.64 28,400.00 1,516.77 29,916.77 1,847.00 28,069.77
088522-8 Jarjowsky, Kim 21,823.26 24,250.00 0.00 24,250.00 5,857.43 18,392.57
092391-2 Backman, Henry 30,492.08 26,700.00 1,931.71 28,631.71 5,061.24 23,570.47
078867-9 Hartley, Carl 29,308.07 25,900.00 838.08 26,738.08 7,495.03 19,243.05
086485-0 Wild, Yves 26,182.06 22,900.00 990.61 23,890.61 2,487.00 21,403.61
093393-7 Hearne, Barry 36,764.43 31,500.00 1,801.62 33,301.62 2,014.00 31,287.62
092823-4 Gonzalez, Jorge 32,302.98 30,400.00 1,857.56 32,257.56 4,689.54 27,568.02
089312-3 Flores, Erik 15,836.07 18,000.00 1,204.08 19,204.08 4,034.03 15,170.05
087433-9 Armstrong, Sheila 23,152.43 27,000.00 1,150.23 28,150.23 4,172.33 23,977.90
088346-2 Smith, Darrell 30,215.97 24,800.00 1,761.23 26,561.23 5,168.38 21,392.85
090237-9 Davis, David 32,476.42 30,400.00 2,074.21 32,474.21 4,197.82 28,276.39
089347-9 Joyce, Joshua 16,129.04 4,135.00 514.48 4,649.48 400.00 4,249.48
090414-4 Hurley, Donald 15,137.53 5,000.00 0.00 5,000.00 30.00 4,970.00
094725-9 Newsome, Lisa 4,769.84 1,000.00 647.00 1,647.00 0.00 1,647.00
002568-4 Zapien, Sergio 4,517.04 500.00 0.00 500.00 0.00 500.00
093207-9 Chapman, Annie 15,103.78 3,420.00 1,098.73 4,518.73 1332.36 3,186.37
092540-4 Ngan, Lane 28,606.25 29,400.00 2,006.52 31,406.52 2916.55 28,489.97
092260-9 Pittman, Vernon 41,532.74 38,650.00 3,372.19 42,022.19 6579.56 35,442.63
088461-9 Roberts, Greg 26,171.22 26,500.00 572.92 27,072.92 6641.58 20,431.34
090859-0 Johnson, Lisa 27,204.50 30,650.00 1,430.57 32,080.57 3649.49 28,431.08
090718-8 Valdez, Chris 26,859.63 25,900.00 775.68 26,675.68 3393.92 23,281.76
086255-7 Tabarez, Rosa 29,697.78 27,000.00 1,567.69 28,567.69 810.00 27,757.69
088548-3 Welch, James 31,049.28 28,400.00 1,564.01 29,964.01 3032.50 26,931.51
091978-7 Watson, Mary 31,231.72 29,400.00 1,058.00 30,458.00 882.00 29,576.00
093035-4 Deatherage, James 26,141.35 22,400.00 2,098.00 24,498.00 6416.09 18,081.91
092805-1 Klepper, Carl 18,645.74 20,200.00 100.02 20,300.02 6806.24 13,493.78
094554-3 Battles, Ricky 26,067.82 26,000.00 0.00 26,000.00 3256.25 22,743.75
088289-4 Jordan, Richard 22,493.49 23,400.00 0.00 23,400.00 2317.27 21,082.73
093080-0 Olandez, Juan 28,076.22 25,900.00 1,963.30 27,863.30 4120.00 23,743.30
0.00 0.00
0.00 0.00
==============================================================================================
39 1,037,044.17 943,355.00 48,439.78 991,794.78 125,905.67 865,889.11
==============================================================================================
Net Current
Account Customer Unrecov. Pass Thru Period Net Cumulative
Number Name Advances Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------------------------------------------------------------------------
088721-6 Rader, Michael 8,925.84 43,006.71 (18,422.62)
092073-6 Pena, Eli 5,054.56 16,490.59 (15,241.12)
094399-3 Stewart, Otha 2,775.68 21,160.63 (4,865.34)
090510-9 Carter, Leonard 2,535.28 25,642.72 (4,019.30)
018679-1 Farmer, James 1,026.15 9,334.89 (1,986.39)
090947-3 Wyne, Robert 1,497.12 18,704.82 (3,227.64)
090576-0 Strickland, Jimmy 1,801.68 21,831.09 (1,903.49)
093597-3 Ussery Jr, Charles 2,190.15 39,319.21 (2,598.85)
092892-9 Garner II, Robert 1,263.35 24,465.63 (3,898.88)
089894-0 Tanner Jr, Mickey 2,542.44 23,927.97 (8,097.90)
089866-8 Godfrey, Martina 1,679.70 26,390.07 (4,519.57)
088522-8 Jarjowsky, Kim 1,355.40 17,037.17 (4,786.09)
092391-2 Backman, Henry 1,915.84 21,654.63 (8,837.45)
078867-9 Hartley, Carl 2,625.56 16,617.49 (12,690.58)
086485-0 Wild, Yves 1,803.52 19,600.09 (6,581.97)
093393-7 Hearne, Barry 3,698.00 27,589.62 (9,174.81)
092823-4 Gonzalez, Jorge 2,936.88 24,631.14 (7,671.84)
089312-3 Flores, Erik 1,680.36 13,489.69 (2,346.38)
087433-9 Armstrong, Sheila 3,438.68 20,539.22 (2,613.21)
088346-2 Smith, Darrell 3,766.01 17,626.84 (12,589.13)
090237-9 Davis, David 2,944.00 25,332.39 (7,144.03)
089347-9 Joyce, Joshua 2,783.64 1,465.84 (14,663.20)
090414-4 Hurley, Donald 1,680.72 3,289.28 (11,848.25)
094725-9 Newsome, Lisa 848.05 798.95 (3,970.89)
002568-4 Zapien, Sergio 952.75 (452.75) (4,969.79)
093207-9 Chapman, Annie 2,446.72 739.65 (14,364.13)
092540-4 Ngan, Lane 2,353.88 26,136.09 (2,470.16)
092260-9 Pittman, Vernon 4,057.92 31,384.71 (10,148.03)
088461-9 Roberts, Greg 2,799.84 17,631.50 (8,539.72)
090859-0 Johnson, Lisa 2,556.60 25,874.48 (1,330.02)
090718-8 Valdez, Chris 5,265.00 18,016.76 (8,842.87)
086255-7 Tabarez, Rosa 1,869.44 25,888.25 (3,809.53)
088548-3 Welch, James 4,053.72 22,877.79 (8,171.49)
091978-7 Watson, Mary 1,034.01 28,541.99 (2,689.73)
093035-4 Deatherage, James 4,620.24 13,461.67 (12,679.68)
092805-1 Klepper, Carl 2,023.60 11,470.18 (7,175.56)
094554-3 Battles, Ricky 3,254.90 19,488.85 (6,578.97)
088289-4 Jordan, Richard 1,651.60 19,431.13 (3,062.36)
093080-0 Olandez, Juan 1,857.30 21,886.00 (6,190.22)
0.00 0.00
0.00 0.00
====================================================================
39 103,566.13 762,322.98 (274,721.19) (1,898,904.53)
====================================================================
-0.01%
====================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: OCTOBER 7, 1997
REMITTANCE REPORT POOL REPORT # 15
REPORTING MONTH: SEPTEMBER 30, 1997
Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Current Accelerated
Cert. Certificate Certificate Principal Principal
Class Balances Balances Payable Distribution
- -----------------------------------------------------------------------------------------------
A-1 45,290,000.00 21,629,840.00 (2,931,623.39) 0.00
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 35,585,000.00 35,585,000.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 32,350,000.00 32,350,000.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 22,642,000.00 22,642,000.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 32,350,000.00 32,350,000.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
A-6 19,409,000.00 19,409,000.00 0.00 0.00
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 17,253,000.00 16,983,002.06 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 10,783,295.00 10,614,543.63 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 438,749.31 0.00 0.00
-----------------------------------------------------------------
215,662,295.00 192,002,135.00 (2,931,623.39) 0.00
=================================================================
Ending Principal Paid
Cert. Writedown Certificate Pool Per $1,000
Class Amounts Balances Factor Denomination
- ------------------------------------------------------------------------------------------
A-1 0.00 18,698,216.61 41.28553% 64.73
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 35,585,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 32,350,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 22,642,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 32,350,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
A-6 0.00 19,409,000.00 100.00000% 0.00
A-6 Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 16,983,002.06 98.43507% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 10,614,543.63 98.43507% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 438,749.31
----------------------------
0.00 189,070,511.61
============================
OAKWOOD MORTGAGE INVESTORS, INC. 1996-B
OAKWOOD ACCEPTANCE CORP. - SERVICER REPORT DATE: OCTOBER 7, 1997
REMITTANCE REPORT POOL REPORT # 15
REPORTING MONTH: SEPTEMBER 30, 1997
Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total
Class Rate Balance Accrual Paid
-------------------------------------------------------
A-1 5.76625% 0.00 103,935.89 103,935.89
A-1 Carryover Interest 0.00 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00 0.00
A-2 6.80000% 0.00 201,648.33 201,648.33
A-2 Carryover Interest 0.00 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00 0.00
A-3 7.10000% 0.00 191,404.17 191,404.17
A-3 Carryover Interest 0.00 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00 0.00
A-4 7.35000% 0.00 138,682.25 138,682.25
A-4 Carryover Interest 0.00 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00 0.00
A-5 7.65000% 0.00 206,231.25 206,231.25
A-5 Carryover Interest 0.00 0.00 0.00 0.00
A-5 Writedown Interest 0.00 0.00 0.00 0.00
A-6 8.00000% 0.00 129,393.33 129,393.33
A-6 Carryover Interest 0.00 0.00 0.00 0.00
A-6 Writedown Interest 0.00 0.00 0.00 0.00
B-1 8.39200% 0.00 118,767.79 118,767.79
B-1 Carryover Interest 0.00 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00 0.00
B-2 9.64400% 0.00 85,305.55 85,305.55
B-2 Carryover Interest 0.00 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00 0.00
X 955,634.97 383,667.12 188,946.82
Service Fee 160,001.78 160,001.78
-------------------------------------------------
955,634.97 1,719,037.46 1,524,317.16
CUMULATIVE UNPAID "X" 1,150,355.27
CUMULATIVE UNPAID TURBO 748,549.26
--------------------
CUMULATIVE TOTAL LOSSES 1,898,904.53
--------------------
Interest Paid
Certificate Interest Ending Per $1,000 Cert. TOTAL
Class Shortfall Balance Denomination Class DISTRIBUTION
---------------------------------------------------------------
A-1 0.00 0.00 4.81 A-1 3,035,559.28
A-1 Carryover Interest 0.00 0.00 0.00
A-1 Writedown Interest 0.00 0.00 0.00
A-2 0.00 0.00 5.67 A-2 201,648.33
A-2 Carryover Interest 0.00 0.00 0.00
A-2 Writedown Interest 0.00 0.00 0.00
A-3 0.00 0.00 5.92 A-3 191,404.17
A-3 Carryover Interest 0.00 0.00 0.00
A-3 Writedown Interest 0.00 0.00 0.00
A-4 0.00 0.00 6.13 A-4 138,682.25
A-4 Carryover Interest 0.00 0.00 0.00
A-4 Writedown Interest 0.00 0.00 0.00
A-5 0.00 0.00 6.38 A-5 206,231.25
A-5 Carryover Interest 0.00 0.00 0.00
A-5 Writedown Interest 0.00 0.00 0.00
A-6 0.00 0.00 6.67 A-6 129,393.33
A-6 Carryover Interest 0.00 0.00 0.00
A-6 Writedown Interest 0.00 0.00 0.00
B-1 0.00 0.00 6.99 B-1 118,767.79
B-1 Carryover Interest 0.00 0.00 0.00
B-1 Writedown Interest 0.00 0.00 0.00
B-2 0.00 0.00 8.04 B-2 85,305.55
B-2 Carryover Interest 0.00 0.00 0.00
B-2 Writedown Interest 0.00 0.00 0.00
X 194,720.30 1,150,355.27 X 188,946.82
Service Fee 0.00 0.00 160,001.78
---------------------- ------------
194,720.30 1,150,355.27 4,455,940.55