OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-98
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 1 of 7
Scheduled Principal Balance of Contracts
- ----------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ----------------------------------------------------------------------------------------------------------------------
193,464,426.40 (264,027.15) (1,896,285.85) (31,195.93) 0.00 191,272,917.47 1,762,383.55
======================================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for Limited Total
Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -----------------------------------------------------------------------------------------------------------------------------------
161,220.36 1,601,163.19 20,431.77 0.00 3,943,128.32 0.00 3,943,128.32
===================================================================================================================================
Certificate Account
- --------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- --------------------------------------------------------------------------------------------------------------------------------
1,834,464.11 2,169,044.93 2,201,404.93 (4,218,553.14) 8,466.36 1,994,827.19
================================================================================================================================
P&I Advances at Distribution Date
--------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- -----------------------------------------------------------------------------
9,861.31 0.00 518,780.03 528,641.34
=============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-98
Class B Crossover Test
------------------------------------------------------------
(a) Remittance date on or after September 2002
(b) Average 60 day Delinquency rate <= 5%
(c) Average 30 day Delinquency rate <= 7%
(d) Cumulative losses do not exceed the following
percent of the intitial principal balance of all Certificates
Sep 2002- Feb 2004 7%
Mar 2004-Feb 2005 8%
Mar 2005 and thereafter 9%
(e) Current realized loss ratio <= 2.75%
(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 193,464,426.40
19.180%
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 2 of 7
Test Met? Average 60 day delinquency ratio:
---------------
N Over 60s Pool Balance %
--------------------------------------------------------
Y Current Mo 1,271,223.19 191,272,917.47 0.66%
1st Preceding Mo 381,511.02 193,464,426.40 0.20%
Y 2nd Preceding Mo 41,260.00 195,894,854.82 0.02%
Divided by 3
-------------
0.29%
=============
Average 30 day delinquency ratio:
N
N
N Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 4,897,055.87 191,272,917.47 2.56%
1st Preceding Mo 2,407,318.34 193,464,426.40 1.24%
Y 2nd Preceding Mo 1,513,542.89 195,894,854.82 0.77%
Divided by 3
-------------
1.53%
=============
Cumulative loss ratio:
Cumulative losses 10,764.16
------------------------
Divided by Initial Certificate Principal 197,901,846.00 0.005%
=============
Current realized loss ratio:
N Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 10,764.16 191,272,917.47
1st Preceding Mo 0.00 193,464,426.40
2nd Preceding Mo 0.00 195,894,854.82
0.022%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-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 5,081 190,634,526.43 109 3,486,199.30 18 717,392.64 2 55,072.89 129 4,258,664.83
Repos 21 638,391.04 5 139,633.38 10 307,434.17 6 191,323.49 21 638,391.04
---------------------------------------------------------------------------------------------------------------------
Total 5,102 191,272,917.47 114 3,625,832.68 28 1,024,826.81 8 246,396.38 150 4,897,055.87
======================================================================================================================
2.9% 2.56%
==============================
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 3 of 7
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
- --------------------------------------------------------------------------------------------
21 638,391.04 0 0.00 16 404,456.99 23 669,871.38
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-98
REPOSSESSION LIQUIDATION REPORT
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 4 of 7
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds
- ---------------------------------------------------------------------------------------------------------------------
138813-1 Breining, J 15,650.67 15,000.00 270.63 15,270.63 4,910.00 10,360.63
144123-7 Gee, C 15,545.26 14,400.00 1,760.21 16,160.21 4,910.00 11,250.21
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
---------------------------------------------------------------------------------------
31,195.93 29,400.00 2,030.84 31,430.84 9,820.00 21,610.84
=======================================================================================
Net Current
Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -----------------------------------------------------------------------------
524.97 0.00 9,835.66 (5,815.01)
654.10 0.00 10,596.11 (4,949.15)
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
- ---------------------------------------------------------------
1,179.07 0.00 20,431.77 (10,764.16) (10,764.16)
============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-98
REPORT DATE: May 12, 1998
POOL REPORT # 3
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 193,464,426.40
Certificate Principal Balance of all outstanding Classes of Certificates 192,474,917.17
------------------
989,509.23
-------------------
(C) CURRENT CLASS X STRIP AMOUNT 550,156.46
--------------------
ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 0.00
--------------------
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-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 35,000,000.00 29,573,071.17 0.00 2,191,508.93 2,191,508.93 0.00
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 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 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 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 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 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 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 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
Excess Asset Principal Balance 0.00 989,509.21 0.00 0.00 0.00 0.00
----------------------------------------------------------------------------------------------------
197,901,846.00 193,464,426.38 0.00 2,191,508.93 2,191,508.93 0.00
====================================================================================================
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 6 of 7
Accelerated Ending Principal Paid
Principal Writedown Certificate Pool Per $1,000
Distribution Amounts Balances Factor Denomination
- ---------------------------------------------------------------------------------------------
0.00 0.00 27,381,562.24 78.23303% 62.61
0.00 0.00 0.00 0.00
0.00 0.00 13,950,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 25,200,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 33,450,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 53,195,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 15,337,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 14,843,000.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 6,926,846.00 100.00000% 0.00
0.00 0.00 0.00 0.00
0.00 0.00 989,509.21
- -----------------------------------------------------
0.00 0.00 191,272,917.45
=====================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Apr-98
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
---------------------------------------------------------------------------------------------------------
A-1 6.20000% 0.00 152,794.20 152,794.20 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 6.10000% 0.00 70,912.50 70,912.50 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 6.05000% 0.00 127,050.00 127,050.00 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 6.20000% 0.00 172,825.00 172,825.00 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 6.70000% 0.00 297,005.42 297,005.42 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 6.82500% 0.00 87,229.19 87,229.19 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 7.50000% 0.00 92,768.75 92,768.75 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 8.73500% 0.00 50,421.67 50,421.67 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
X 989,509.21 550,156.46 539,392.30 10,764.16 1,000,273.37
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 161,220.36 161,220.36 0.00 0.00
-------------------------------------------------------------------------------------------------
989,509.21 1,762,383.55 1,751,619.39 10,764.16 1,000,273.37
==================================================================================================
REPORT DATE: May 12, 1998
POOL REPORT # 3
Page 7 of 7
Interest Paid
Per $1,000 Cert. TOTAL
Denomination Class DISTRIBUTION
- ---------------------------------------------------------------
5.17 A-1 2,344,303.13
0.00
0.00
5.08 A-2 70,912.50
0.00
0.00
5.04 A-3 127,050.00
0.00
0.00
5.17 A-4 172,825.00
0.00
0.00
5.58 A-5 297,005.42
0.00
0.00
5.69 M 87,229.19
0.00
0.00
6.25 B-1 92,768.75
0.00
0.00
7.28 B-2 50,421.67
0.00 CUMULATIVE X INTEREST SHORTFALL 1,000,273.37
0.00 CUMULATIVE ACCELERATED PRINCIPAL DISTRIB (989,509.21)
-----------------
X 539,392.30 CUMULATIVE LOSSES 10,764.16
-----------------
R 0.00
161,220.36
------------------
3,943,128.32
==================