OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jan-98
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------
Beginning Ending Scheduled Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross Servicing Pass Thru
Balance Principal Principal Principal Repurchased Balance Interest Fee Interest
- ------------------------------------------------------------------------------------------------------------------------------------
248,269,256.92 (334,105.25) (2,106,215.65) (48,393.79) 0.00 245,780,542.23 2,130,003.87 206,891.05 1,923,112.82
====================================================================================================================================
- ------------------------------------------------------------------
Amount
Liquidation Reserve Available for Limited Total
Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------
47,673.02 0.00 4,617,997.79 0.00 4,617,997.79
==================================================================
Certificate Account
- -------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- -------------------------------------------------------------------------------------------------------------------------
2,719,994.94 2,492,068.25 2,005,955.19 (5,013,859.24) 7,059.90 2,211,219.04
=========================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advavnces Balance
582,443.28 554,176.18 894,488.97 922,756.07
======================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 2 of 6
REPORTING MONTH: Jan-98
Class B Crossover Test Test Met?
- ------------------------------------------------------------------------------- ---------------
(a) Remittance date on or after June 2002 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
Jun 2002- Nov 2003 7% N
Dec 2003-Nov 2004 8% N
Dec. 2004 and thereafter 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Does Subordinated Certificate percentage equal or exceed 35.438% of Pool
Scheduled Principal Balance
Beginning M balance 17,037,000.00
Beginning B-1 balance 23,977,000.00
Beginning B-2 balance 10,096,252.00
------------------
51,110,252.00
------------------
Divided by beginning pool
balance 248,269,256.92
20.587% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 1,933,563.85 245,057,151.25 0.79%
1st Preceding Mo 928,403.44 248,269,256.92 0.37%
2nd Preceding Mo 63,881.68 251,125,005.31 0.03%
Divided by 3
----------
0.40%
==========
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 7,399,408.03 245,057,151.25 3.02%
1st Preceding Mo 3,854,137.68 248,269,256.92 1.55%
2nd Preceding Mo 1,889,752.46 251,125,005.31 0.75%
Divided by 3
---------
1.77%
=========
Cumulative loss ratio:
Cumulative losses 720.77
------------------------
Divided by Initial Certificate Principal 252,393,252.00 0.000%
=========
Current realized loss ratio:
Liquidation Pool
Losses Balance
----------------------------------
Current Mo 720.77 245,057,151.25
1st Preceding Mo 0.00 248,269,256.92
2nd Preceding Mo 0.00 251,125,005.31
0.001%
==========
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: Jan-98
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 6,663 244,753,539.01 165 5,162,231.94 31 869,631.86 8 340,541.01 204 6,372,404.81
Repos 8 303,612.24 8 303,612.24 12 384,546.24 12 338,844.74 32 1,027,003.22
------------------------------------------------------------------------------------------------------------------
Total 6,671 245,057,151.25 173 5,465,844.18 43 1,254,178.10 20 679,385.75 236 7,399,408.03
==================================================================================================================
3.5% 3.02%
===================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
--------------------------------------------------------------------------------
Excluding Repos 32 1,027,003.22 -1 (13,205.51) 22 727,307.25 34 1,101,438.62
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 4 of 6
REPORTING MONTH: Jan-98
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. FHA Insurance
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances Coverage
- ------------------------------------------------------------------------------------------------------------------------------
131533-2 Stokes, A 48,393.79 49,750.00 0.00 49,750.00 7,036.74 42,713.26 1,527.22 6,486.98
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 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
------------------------------------------------------------------------------------------------------
48,393.79 49,750.00 0.00 49,750.00 7,036.74 42,713.26 1,527.22 6,486.98
======================================================================================================
Net Current
Pass Thru Period Net Cumulative
Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------
47,673.02 (720.77)
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
- --------------------------------------
47,673.02 (720.77) (720.77)
======================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 5 of 6
REPORTING MONTH: Jan-98
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 46,940,000.00 42,816,004.62 0.00 2,488,714.69 2,488,714.69 0.00
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 46,290,000.00 46,290,000.00 0.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00
A-3 30,260,000.00 30,260,000.00 0.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 15,340,000.00 15,340,000.00 0.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00
A-5 62,453,000.00 62,453,000.00 0.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00
M 17,037,000.00 17,037,000.00 0.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00 0.00
B-1 23,977,000.00 23,977,000.00 0.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 10,096,252.00 10,096,252.00 0.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
----------------------------------------------------------------------------------------------
252,393,252.00 248,269,256.62 0.00 2,488,714.69 2,488,714.69 0.00
==============================================================================================
Ending Principal Paid
Cert. Writedown Certificate Pool Per $1,000
Class Amounts Balances Factor Denomination
- -------------------------------------------------------------------------------------
A-1 0.00 40,327,289.93 85.91242% 53.02
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 46,290,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 30,260,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 15,340,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 62,453,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 0.00 17,037,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 23,977,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 10,096,252.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
----------------------------------------------------------
0.00 245,780,541.93
=========================---------------------------------
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: February 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 3
REMITTANCE REPORT Page 6of 6
REPORTING MONTH: Jan-98
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 5.71375% 0.00 210,662.18 210,662.18 0.00 0.00 4.92
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 6.35000% 0.00 244,951.25 244,951.25 0.00 0.00 5.29
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 6.50000% 0.00 163,908.33 163,908.33 0.00 0.00 5.42
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 6.72500% 0.00 85,967.92 85,967.92 0.00 0.00 5.60
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 6.95000% 0.00 361,706.96 361,706.96 0.00 0.00 5.79
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 6.95000% 0.00 98,672.63 98,672.63 0.00 0.00 5.79
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 7.32500% 0.00 146,359.60 146,359.60 0.00 0.00 6.10
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 7.55000% 0.00 63,522.25 63,522.25 0.00 0.00 6.29
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 0.00 547,361.70 546,640.93 720.77 720.77
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 206,891.05 206,891.05 0.00 0.00
----------------------------------------------------------------------------
============================================================================
0.00 2,130,003.87 2,129,283.10 720.77 720.77
============================================================================
Certificate Cert. TOTAL
Class Class DISTRIBUTION
------------------------
A-1 A-1 2,699,376.87
A-1 Carryover Interest
A-1 Writedown Interest
A-2 A-2 244,951.25
A-2 Carryover Interest
A-2 Writedown Interest
A-3 A-3 163,908.33
A-3 Carryover Interest
A-3 Writedown Interest
A-4 A-4 85,967.92
A-4 Carryover Interest
A-4 Writedown Interest
A-5 A-5 361,706.96
A-5 Carryover Interest
A-5 Writedown Interest
M M 98,672.63
M Carryover Interest
M Writedown Interest
B-1 B-1 146,359.60
B-1 Carryover Interest
B-1 Writedown Interest
B-2 B-2 63,522.25
B-2 Carryover Interest
B-2 Writedown Interest
Limited Guarantee Limited Guarantee 0.00
X X 546,640.93
R R 0.00
Service Fee 206,891.05
------------
4,617,997.79
============