OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: May-98
Scheduled Principal Balance of Contracts
- -----------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- -----------------------------------------------------------------------------------------------------------------------------
240,271,991.30 (337,343.63) (1,184,986.07) (585,596.73) 0.00 238,164,064.87
=============================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
2,058,318.25 200,226.66 1,858,091.59 428,524.68 0.00 4,009,172.63 0.00 4,009,172.63
====================================================================================================================================
Certificate Account
-----------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
-----------------------------------------------------------------------------------------------------------------------------
1,626,861.88 2,087,234.88 1,966,705.24 (4,260,748.93) 3,759.31 1,423,812.38
=============================================================================================================================
P&I Advances at Distribution Date
---------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
---------------------------------------------------------------------------------
991,651.26 947,940.80 1,415,845.88 1,459,556.34
=================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: May-98 Page 2 of 6
Class B Crossover Test
- -------------------------------------------------------------
(a) Remittance date on or after June 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
Jun 2002- Nov 2003 7%
Dec 2003-Nov 2004 8%
Dec. 2004 and thereafter 9%
(e) Current realized loss ratio <= 2.75%
(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 240,271,991.30
21.272%
Test Met? Average 60 day delinquency ratio:
- ---------------
N Over 60s Pool Balance %
--------------------------------------------------------
Y Current Mo 6,064,488.83 238,164,064.87 2.55%
1st Preceding Mo 5,387,834.80 240,271,991.30 2.24%
Y 2nd Preceding Mo 4,745,746.10 242,450,674.26 1.96%
Divided by 3
-------------
2.25%
=============
Average 30 day delinquency ratio:
N
N
N Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 11,492,767.27 238,164,064.87 4.83%
1st Preceding Mo 9,933,748.41 240,271,991.30 4.13%
Y 2nd Preceding Mo 8,086,347.94 242,450,674.26 3.34%
Divided by 3
-------------
4.10%
=============
Cumulative loss ratio:
Cumulative losses 397,872.17
------------------------
Divided by Initial Certificate Principal 252,393,252.00 0.158%
=============
Current realized loss ratio:
N Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 157,072.05 238,164,064.87
1st Preceding Mo 149,509.01 240,271,991.30
2nd Preceding Mo 69,851.90 242,450,674.26
0.628%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: May-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 6,414 235,555,423.80 152 5,288,611.08 47 1,646,489.21 53 1,965,011.81
Repos 79 2,608,641.07 4 139,667.36 18 514,269.80 56 1,938,718.01
--------------------------------------------------------------------------------------------------------------
Total 6,493 238,164,064.87 156 5,428,278.44 65 2,160,759.01 109 3,903,729.82
==============================================================================================================
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 252 8,900,112.10 79 2,608,641.07 -1 (23,963.25) 34 1,106,835.80 144 4,400,751.00
Repos 78 2,592,655.17
------------------------
Total 330 11,492,767.27
=============================
5.1% 4.83%
=============================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: May-98 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
- ------------------------------------------------------------------------------------------------------------------------------------
128884-4 Sheppard, W 13,644.66 2,800.00 0.00 2,800.00 1,210.00 1,590.00
1347798 Wideman, M 12,784.33 7,000.00 158.58 7,158.58 1,210.00 5,948.58
136911-5 Willis Jr, R 9,993.10 4,000.00 197.00 4,197.00 1,210.00 2,987.00
126842-4 Martin, A 30,238.05 29,500.00 248.38 29,748.38 4,910.00 24,838.38
127101-4 Birdsong, R 8,219.49 9,000.00 262.89 9,262.89 4,910.00 4,352.89
129894-2 Rose, T 29,494.42 28,100.00 1,457.39 29,557.39 4,910.00 24,647.39
130434-4 Smith, K 13,636.80 13,000.00 130.63 13,130.63 4,910.00 8,220.63
130683-6 Anderson, J 29,800.96 29,700.00 348.66 30,048.66 4,910.00 25,138.66
130771-9 Padden, C 33,707.31 34,000.00 347.20 34,347.20 4,910.00 29,437.20
1310119 Sims, J 31,028.60 29,400.00 271.96 29,671.96 4,910.00 24,761.96
132256-9 Coffey, M 34,381.90 31,900.00 878.27 32,778.27 4,910.00 27,868.27
132296-5 Burchett, R 14,678.03 14,400.00 206.97 14,606.97 4,910.00 9,696.97
1329432 McElroy, V 10,501.05 11,000.00 196.64 11,196.64 4,910.00 6,286.64
133737-7 Hartzell, V 31,528.26 30,900.00 245.18 31,145.18 4,910.00 26,235.18
1341734 Manley, R 10,527.06 9,000.00 1,987.36 10,987.36 4,910.00 6,077.36
1350560 Carlos Jr, M 12,431.80 12,200.00 0.00 12,200.00 4,910.00 7,290.00
1350701 Miles, W 29,845.97 30,500.00 246.88 30,746.88 4,910.00 25,836.88
135213-7 Culpen, K 33,464.59 32,000.00 2,984.21 34,984.21 4,910.00 30,074.21
1353150 Morton, R 25,020.77 23,000.00 1,235.74 24,235.74 4,910.00 19,325.74
1355452 Pace, D 20,852.78 21,000.00 118.86 21,118.86 4,910.00 16,208.86
136666-5 Frymyer, D 24,681.98 25,000.00 448.77 25,448.77 4,910.00 20,538.77
136690-5 Shelton, B 22,181.35 22,400.00 882.82 23,282.82 4,910.00 18,372.82
137594-8 Jackson, M 15,520.97 16,880.00 146.85 17,026.85 4,910.00 12,116.85
129596-3 Godsey, S 40,779.59 42,750.00 0.00 42,750.00 8,720.00 34,030.00
131397-2 May, R 46,652.91 43,650.00 284.40 43,934.40 8,720.00 35,214.40
----------------------------------------------------------------------------------------------------
585,596.73 553,080.00 13,285.64 566,365.64 119,270.00 447,095.64
====================================================================================================
Net Current
Account Customer Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Number Name Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ------------------------------ --------------------------------------------------------------------------------------
128884-4 Sheppard, W 1,133.78 11,869.60 12,325.82 (1,318.84)
1347798 Wideman, M 1,065.21 0.00 4,883.37 (7,900.96)
136911-5 Willis Jr, R 1,109.71 0.00 1,877.29 (8,115.81)
126842-4 Martin, A 2,010.10 0.00 22,828.28 (7,409.77)
127101-4 Birdsong, R 1,380.09 0.00 2,972.80 (5,246.69)
129894-2 Rose, T 2,558.16 0.00 22,089.23 (7,405.19)
130434-4 Smith, K 1,454.33 0.00 6,766.30 (6,870.50)
130683-6 Anderson, J 1,978.60 0.00 23,160.06 (6,640.90)
130771-9 Padden, C 2,055.72 0.00 27,381.48 (6,325.83)
1310119 Sims, J 1,910.07 0.00 22,851.89 (8,176.71)
132256-9 Coffey, M 2,282.73 0.00 25,585.54 (8,796.36)
132296-5 Burchett, R 1,582.09 0.00 8,114.88 (6,563.15)
1329432 McElroy, V 1,457.34 0.00 4,829.30 (5,671.75)
133737-7 Hartzell, V 2,090.65 0.00 24,144.53 (7,383.73)
1341734 Manley, R 2,049.95 0.00 4,027.41 (6,499.65)
1350560 Carlos Jr, M 1,350.86 0.00 5,939.14 (6,492.66)
1350701 Miles, W 977.20 0.00 24,859.68 (4,986.29)
135213-7 Culpen, K 1,520.37 0.00 28,553.84 (4,910.75)
1353150 Morton, R 1,337.84 0.00 17,987.90 (7,032.87)
1355452 Pace, D 1,128.16 0.00 15,080.70 (5,772.08)
136666-5 Frymyer, D 2,312.57 0.00 18,226.20 (6,455.78)
136690-5 Shelton, B 1,636.83 0.00 16,735.99 (5,445.36)
137594-8 Jackson, M 1,024.47 0.00 11,092.38 (4,428.59)
129596-3 Godsey, S 2,976.71 0.00 31,053.29 (9,726.30)
131397-2 May, R 3,516.81 13,459.79 45,157.38 (1,495.53)
------------------------------------------------------------------
43,900.35 25,329.39 428,524.68 (157,072.05) (397,872.17)
====================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: May-98 Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current
Cert. Certificate Certificate Carryover Principal
Class Balances Balances Principal Due
- ------------------------------------------------------------------------------------------------------------------------------
A-1 46,940,000.00 34,818,739.00 0.00 2,107,926.43
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 46,290,000.00 46,290,000.00 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
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 15,340,000.00 15,340,000.00 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
A-5 Outstanding Writedown 0.00 0.00 0.00
M 17,037,000.00 17,037,000.00 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
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 10,096,252.00 10,096,252.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
-----------------------------------------------------------------------------------------
252,393,252.00 240,271,991.00 0.00 2,107,926.43
=========================================================================================
Current Ending Ending Principal Paid
Cert. Principal Carryover Writedown Certificate Pool Per $1,000
Class Paid Principal Amounts Balances Factor Denomination
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 2,107,926.43 0.00 0.00 32,710,812.57 69.68643% 44.91
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 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 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 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 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 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 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 0.00 10,096,252.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
-----------------------------------------------------------------
2,107,926.43 0.00 0.00 238,164,064.57
=================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1997-D REPORT DATE: June 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: 5/31/98 Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
--------------------------------------------------------------------------------------------------
A-1 5.77625% 0.00 173,188.17 173,188.17 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 6.35000% 0.00 244,951.25 244,951.25 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 6.50000% 0.00 163,908.33 163,908.33 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 6.72500% 0.00 85,967.92 85,967.92 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 6.95000% 0.00 361,706.96 361,706.96 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 6.95000% 0.00 98,672.63 98,672.63 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 7.32500% 0.00 146,359.60 146,359.60 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 7.55000% 0.00 63,522.25 63,522.25 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
Limited Guarantee 0.00 0.00 0.00 0.00
X 240,800.12 519,814.48 362,742.43 157,072.05
R 0.00 0.00 0.00 0.00
Service Fee 0.00 200,226.66 200,226.66 0.00
-------------------------------------------------------------------------------------------
===========================================================================================
240,800.12 2,058,318.25 1,901,246.20 157,072.05
===========================================================================================
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
-------------------------------------------------------------------------
A-1 0.00 4.97 A-1 2,281,114.60
A-1 Carryover Interest 0.00 0.00
A-1 Writedown Interest 0.00 0.00
A-2 0.00 5.29 A-2 244,951.25
A-2 Carryover Interest 0.00 0.00
A-2 Writedown Interest 0.00 0.00
A-3 0.00 5.42 A-3 163,908.33
A-3 Carryover Interest 0.00 0.00
A-3 Writedown Interest 0.00 0.00
A-4 0.00 5.60 A-4 85,967.92
A-4 Carryover Interest 0.00 0.00
A-4 Writedown Interest 0.00 0.00
A-5 0.00 5.79 A-5 361,706.96
A-5 Carryover Interest 0.00 0.00
A-5 Writedown Interest 0.00 0.00
M 0.00 5.79 M 98,672.63
M Carryover Interest 0.00 0.00
M Writedown Interest 0.00 0.00
B-1 0.00 6.10 B-1 146,359.60
B-1 Carryover Interest 0.00 0.00
B-1 Writedown Interest 0.00 0.00
B-2 0.00 6.29 B-2 63,522.25
B-2 Carryover Interest 0.00 0.00
B-2 Writedown Interest 0.00 0.00
Limited Guarantee 0.00 Limited Guarantee 0.00
X 397,872.17 X 362,742.43
R 0.00 R 0.00
Service Fee 0.00 200,226.66
----------- --------------
===========
397,872.17 4,009,172.63
=========== ==============