OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT Page 1 of 7
REPORTING MONTH: Feb-98
Scheduled Principal Balance of Contracts
- -------------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- -------------------------------------------------------------------------------------------------------------------------------
197,901,846.02 (262,834.23) (1,744,156.97) 0.00 0.00 195,894,854.82
===============================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
1,809,855.44 164,918.21 1,644,937.23 0.00 0.00 3,816,846.64 0.00 3,816,846.64
====================================================================================================================================
Certificate Account
- --------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- --------------------------------------------------------------------------------------------------------------------------------
0.00 974,031.35 404,369.76 0.00 1,378,401.11
================================================================================================================================
P&I Advances at Distribution Date
- ---------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ---------------------------------------------------------------------------------
0.00 0.00 3,441.74 3,441.74
=================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: Feb-98 Page 2 of 7
Class B Crossover Test Test Met?
- -------------------------------------------------------------------- ---------------
(a) Remittance date on or after September 2002 N
(b) Average 60 day Delinquency rate <= 5% #DIV/0!
(c) Average 30 day Delinquency rate <= 7% #DIV/0!
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Sep 2002- Feb 2004 7% N
Mar 2004-Feb 2005 8% N
Mar 2005 and thereafter 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Does Subordinated Certificate percentage equal or
exceed 32.813%
of Pool Scheduled Principal Balance
Beginning M balance 15,337,000.00
Beginning B-1 balance 14,843,000.00
Beginning B-2 balance 6,926,846.00
------------------
37,106,846.00
------------------
Divided by beginning pool
balance 197,901,846.02
18.750% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 41,260.00 195,894,854.82 0.02%
1st Preceding Mo 0.00 0.00 #DIV/0!
2nd Preceding Mo 0.00 0.00 #DIV/0!
Divided by 3
-------------
#DIV/0!
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 1,513,542.89 195,894,854.82 0.77%
1st Preceding Mo 0.00 0.00 #DIV/0!
2nd Preceding Mo 0.00 0.00 #DIV/0!
Divided by 3
-------------
#DIV/0!
=============
Cumulative loss ratio:
Cumulative losses 0.00
------------------------
Divided by Initial Certificate Principal 197,901,846.00 0.000%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 0.00 195,894,854.82
1st Preceding Mo 0.00 0.00
2nd Preceding Mo 0.00 0.00
0.000%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT Page 3 of 7
REPORTING MONTH: Feb-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 5,201 195,894,854.82 44 1,472,282.89 1 41,260.00 0 0.00 45 1,513,542.89
Repos 0 0.00 0 0.00 0 0.00 0 0.00 0 0.00
----------------------------------------------------------------------------------------------------------------------
Total 5,201 195,894,854.82 44 1,472,282.89 1 41,260.00 0 0.00 45 1,513,542.89
======================================================================================================================
0.9% 0.77%
====================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
-----------------------------------------------------------------------------------------------------
Excluding Repos
Repos 0 0.00 0 0.00 0 0.00 0 0.00
Total
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: Feb-98 Page 4 of 7
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- ------------------------------------------------------------------------------------------------------------------------------------
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
====================================================================================================
Net Current
Account Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Number Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ------------------------------------------------------------------------------------------------------
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
0.00 0.00 0.00
------------------------------------------------------------------------
0.00 0.00 0.00 0.00 0.00
============================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: Feb-98 Page 5 of 7
ACCELERATED PRINCIPAL DISTRIBUTION CALCULATION:
The Accelerated Principal Distribution is equal to the lesser of (C) or the positive difference, if any,
between (A) and (B)
(A) TARGET OVERCOLLATERALIZATION AMOUNT 989,509.23
--------------
(B) CURRENT OVERCOLLATERALIZATION AMOUNT
The positive difference, if any, between
Scheduled Principal Balance 197,901,846.02
Certificate Principal Balance of all outstanding Classes of Certificates 197,901,846.00
--------------
0.02
--------------
(C) CURRENT CLASS X STRIP AMOUNT 565,891.37
--------------
ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 565,891.37
--------------
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: Feb-98 Page 6 of 7
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current
Cert. Certificate Certificate Carryover Principal Principal
Class Balances Balances Principal Due Paid
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 35,000,000.00 35,000,000.00 0.00 2,006,991.20 2,006,991.20
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 13,950,000.00 13,950,000.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00
A-3 25,200,000.00 25,200,000.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 33,450,000.00 33,450,000.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00
A-5 53,195,000.00 53,195,000.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00
M 15,337,000.00 15,337,000.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00 0.00
B-1 14,843,000.00 14,843,000.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 6,926,846.00 6,926,846.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 0.00 0.00 0.00 0.00
--------------------------------------------------------------------------------------------------
197,901,846.00 197,901,846.00 0.00 2,006,991.20 2,006,991.20
==================================================================================================
Ending Accelerated Ending Principal Paid
Cert. Carryover Principal Writedown Certificate Pool Per $1,000
Class Principal Distribution Amounts Balances Factor Denomination
- ------------------------------- --------------------------------------------------------------------------------------------
A-1 0.00 565,891.37 0.00 32,427,117.43 92.64891% 57.34
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 13,950,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 25,200,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 33,450,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 53,195,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 0.00 0.00 0.00 15,337,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 14,843,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 6,926,846.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 (565,891.37) 0.00 565,891.37
-------------------------------------------------------
0.00 0.00 0.00 195,894,854.80
=======================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: March 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 1
REMITTANCE REPORT
REPORTING MONTH: Feb-98 Page 7 of 7
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
-----------------------------------------------------------------------------------------------
A-1 6.20000% 0.00 180,833.33 180,833.33 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 6.10000% 0.00 70,912.50 70,912.50 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 6.05000% 0.00 127,050.00 127,050.00 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 6.20000% 0.00 172,825.00 172,825.00 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 6.70000% 0.00 297,005.42 297,005.42 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
M 6.82500% 0.00 87,229.19 87,229.19 0.00
M Carryover Interest 0.00 0.00 0.00 0.00 0.00
M Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-1 7.50000% 0.00 92,768.75 92,768.75 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 8.73500% 0.00 50,421.67 50,421.67 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 0.00 565,891.37 0.00 565,891.37
R 0.00 0.00 0.00 0.00
Service Fee 0.00 164,918.21 164,918.21 0.00
-----------------------------------------------------------------------------------------
0.00 1,809,855.44 1,243,964.07 565,891.37
=========================================================================================
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
-------------------------------------------------------------------------
A-1 0.00 5.17 A-1 2,753,715.90
A-1 Carryover Interest 0.00 0.00
A-1 Writedown Interest 0.00 0.00
A-2 0.00 5.08 A-2 70,912.50
A-2 Carryover Interest 0.00 0.00
A-2 Writedown Interest 0.00 0.00
A-3 0.00 5.04 A-3 127,050.00
A-3 Carryover Interest 0.00 0.00
A-3 Writedown Interest 0.00 0.00
A-4 0.00 5.17 A-4 172,825.00
A-4 Carryover Interest 0.00 0.00
A-4 Writedown Interest 0.00 0.00
A-5 0.00 5.58 A-5 297,005.42
A-5 Carryover Interest 0.00 0.00
A-5 Writedown Interest 0.00 0.00
M 0.00 5.69 M 87,229.19
M Carryover Interest 0.00 0.00
M Writedown Interest 0.00 0.00
B-1 0.00 6.25 B-1 92,768.75
B-1 Carryover Interest 0.00 0.00
B-1 Writedown Interest 0.00 0.00
B-2 0.00 7.28 B-2 50,421.67
B-2 Carryover Interest 0.00 0.00
B-2 Writedown Interest 0.00 0.00
X 565,891.37 X 0.00
R 0.00 R 0.00
Service Fee 0.00 164,918.21
------------ --------------
565,891.37 3,816,846.64
============ ==============