OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Feb-98
Scheduled Principal Balance of Contracts
- ---------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ---------------------------------------------------------------------------------------------------------------
245,780,542.23 (334,333.21) (1,101,214.22) (166,509.63) 0.00 244,178,485.17
===============================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------
2,113,162.78 204,817.12 1,908,345.66 145,791.19 0.00 3,694,501.40 0.00 3,694,501.40
==============================================================================================================================
Certificate Account
- ---------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------------------------------------------------
2,211,219.04 1,588,719.14 2,029,622.51 (4,625,778.46) 5,295.34 1,209,077.57
=================================================================================================================================
P&I Advances at Distribution Date
- --------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- --------------------------------------------------------------------------------
922,756.07 890,516.99 753,327.72 785,566.80
================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 2 of 6
REPORTING MONTH: Feb-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 245,780,542.23
20.795% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 3,751,245.49 244,178,485.17 1.54%
1st Preceding Mo 1,933,563.85 245,057,151.25 0.79%
2nd Preceding Mo 928,403.44 248,269,256.92 0.37%
Divided by 3
----------
0.90%
==========
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 7,541,676.99 244,178,485.17 3.09%
1st Preceding Mo 7,399,408.03 245,057,151.25 3.02%
2nd Preceding Mo 3,854,137.68 248,269,256.92 1.55%
Divided by 3
--------
2.55%
========
Cumulative loss ratio:
Cumulative losses 21,439.21
------------------------
Divided by Initial Certificate Principal 252,393,252.00 0.008%
========
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 20,718.44 244,178,485.17
1st Preceding Mo 720.77 245,057,151.25
2nd Preceding Mo 0.00 248,269,256.92
0.035%
========
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: Feb-98
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 6,594 242,855,904.51 111 3,625,752.77 58 1,894,026.61 22 699,316.95
Repos 41 1,322,580.66 6 164,678.73 12 398,209.55 23 759,692.38
--------------------------------------------------------------------------------------------------------------
Total 6,635 244,178,485.17 117 3,790,431.50 70 2,292,236.16 45 1,459,009.33
==============================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
----------------------------------------------------------------------------------------------------------------------
Excluding Repos 191 6,219,096.33 41 1,322,580.66 -1 (23,284.58) 16 487,085.41 49 1,565,239.45
Repos 41 1,322,580.66
---------------------------
Total 232 7,541,676.99
===========================
3.5% 3.09%
===========================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 4 of 6
REPORTING MONTH: Feb-98
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- --------------------------------------------------------------------------------------------------------------------------------
120766-1 Wynn, T 25,715.28 25,000.00 188.33 25,188.33 4,042.15 21,146.18
129082-4 Muncy, R 20,114.92 22,050.00 236.24 22,286.24 4,042.15 18,244.09
130144-9 Rangel, G 23,201.50 24,200.00 395.18 24,595.18 4,042.15 20,553.03
120893-3 Larrison, D 26,179.57 2,100.00 143.22 2,243.22 873.64 1,369.58
132483-9 Hicks, W 31,355.55 27,400.00 3,029.01 30,429.01 4,042.15 26,386.86
137365-3 Rodriguez, I 39,942.81 42,400.00 1,579.76 43,979.76 7,036.74 36,943.02
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
------------------------------------------------------------------------------------------------
166,509.63 143,150.00 5,571.74 148,721.74 24,078.98 124,642.76
================================================================================================
Net Current
Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ------------------------------------------------------------------------------------
1,133.65 5,132.48 25,145.01 (570.27)
994.26 0.00 17,249.83 (2,865.09)
1,297.87 0.00 19,255.16 (3,946.34)
1,134.86 23,350.37 23,585.09 (2,594.48)
1,166.45 0.00 25,220.41 (6,135.14)
1,607.33 0.00 35,335.69 (4,607.12)
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
- ---------- -------------------------------------
7,334.42 28,482.85 145,791.19 (20,718.44) (21,439.21)
====================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 5 of 6
REPORTING MONTH: Feb-98
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current
Cert. Certificate Certificate Carryover Principal Principal
Class Balances Balances Principal Due Paid
- ------------------------------------------------------------------------------------------------------------------------------
A-1 46,940,000.00 40,327,289.93 0.00 1,602,057.06 1,602,057.06
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
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
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
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
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
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
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
B-2 Outstanding Writedown 0.00 0.00 0.00
-------------------------------------------------------------------------------------------
252,393,252.00 245,780,541.93 0.00 1,602,057.06 1,602,057.06
===========================================================================================
Ending Ending Principal Paid
Cert. Carryover Writedown Certificate Pool Per $1,000
Class Principal Amounts Balances Factor Denomination
- -----------------------------------------------------------------------------------------------------------------
A-1 0.00 0.00 38,725,232.87 82.49943% 34.13
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 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 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 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 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 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 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 0.00 10,096,252.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
----------------------------------------------
0.00 0.00 244,178,484.87
==============================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 6 of 6
REPORTING MONTH: Feb-98
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
---------------------------------------------------------------------------------------------
A-1 5.74500% 0.00 180,195.77 180,195.77 0.00 0.00
A-1 Carryover Interest 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
A-2 6.35000% 0.00 244,951.25 244,951.25 0.00 0.00
A-2 Carryover Interest 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
A-3 6.50000% 0.00 163,908.33 163,908.33 0.00 0.00
A-3 Carryover Interest 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
A-4 6.72500% 0.00 85,967.92 85,967.92 0.00 0.00
A-4 Carryover Interest 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
A-5 6.95000% 0.00 361,706.96 361,706.96 0.00 0.00
A-5 Carryover Interest 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
M 6.95000% 0.00 98,672.63 98,672.63 0.00 0.00
M Carryover Interest 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
B-1 7.32500% 0.00 146,359.60 146,359.60 0.00 0.00
B-1 Carryover Interest 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
B-2 7.55000% 0.00 63,522.25 63,522.25 0.00 0.00
B-2 Carryover Interest 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
Limited Guarantee 0.00 0.00 0.00 0.00 0.00
X 720.77 563,060.95 542,342.51 20,718.44 21,439.21
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 204,817.12 204,817.12 0.00 0.00
--------------------------------------------------------------------------------------
======================================================================================
720.77 2,113,162.78 2,092,444.34 20,718.44 21,439.21
======================================================================================
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
--------------------------------------------------------------------------
A-1 4.47 A-1 1,782,252.83
A-1 Carryover Interest 0.00
A-1 Writedown Interest 0.00
A-2 5.29 A-2 244,951.25
A-2 Carryover Interest 0.00
A-2 Writedown Interest 0.00
A-3 5.42 A-3 163,908.33
A-3 Carryover Interest 0.00
A-3 Writedown Interest 0.00
A-4 5.60 A-4 85,967.92
A-4 Carryover Interest 0.00
A-4 Writedown Interest 0.00
A-5 5.79 A-5 361,706.96
A-5 Carryover Interest 0.00
A-5 Writedown Interest 0.00
M 5.79 M 98,672.63
M Carryover Interest 0.00
M Writedown Interest 0.00
B-1 6.10 B-1 146,359.60
B-1 Carryover Interest 0.00
B-1 Writedown Interest 0.00
B-2 6.29 B-2 63,522.25
B-2 Carryover Interest 0.00
B-2 Writedown Interest 0.00
Limited Guarantee Limited Guarantee 0.00
X X 542,342.51
R R 0.00
Service Fee 204,817.12
--------------------
3,694,501.40
====================