OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Jun-98
Scheduled Principal Balance of Contracts
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ------------------------------------------------------------------------------------------------------------------------------------
295,782,984.69 (422,766.21) (4,395,568.54) 0.00 0.00 290,964,649.94
====================================================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
2,702,926.77 246,485.82 2,456,440.95 0.00 0.00 7,521,261.52 0.00 7,521,261.52
====================================================================================================================================
Certificate Account
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ------------------------------------------------------------------------------------------------------------------------------------
4,208,507.04 4,710,295.83 2,295,676.85 (6,587,758.39) 12,896.53 4,639,617.86
====================================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------------------------
517,267.04 515,882.20 656,736.92 658,121.76
==================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-98 Page 2 of 6
Class B Crossover Test Test Met?
- ------------------------------------------------------------- ---------------
(a) Remittance date on or after December 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
Average 30 day delinquency ratio:
Dec 2002- May 2004 7% N
June 2004-May 2005 8% N
June 2005 and thereafter 9% N
(e) Current realized loss ratio <= 2.75% Y
(f) Does Subordinated Certificate percentage equal or #DIV/0!
exceed 28.875%
of Pool Scheduled Principal Balance
Beginning M balance 36,000,000.00
Beginning B-1 balance 11,250,000.00
Beginning B-2 balance 15,000,000.00
-------------------
62,250,000.00
-------------------
Divided by beginning pool
balance 295,782,984.69
21.046% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
---------------------------------------------------------
Current Mo 766,145.43 290,964,649.94 0.26%
1st Preceding Mo 0.00 295,782,984.69 0.00%
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 5,900,100.85 290,964,649.94 2.03%
1st Preceding Mo 1,914,522.21 295,782,984.69 0.65%
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 300,000,000.00 0.000%
==============
Current realized loss ratio:
Liquidation Pool
Losses Balance
---------------------------------------------
Current Mo 0.00 290,964,649.94
1st Preceding Mo 0.00 295,782,984.69
2nd Preceding Mo 0.00 0.00
0.000%
==============
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT Page 3 of 6
REPORTING MONTH: Jun-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 8,014 290,549,107.85 162 4,911,802.28 19 572,756.48 0 0.00 181 5,484,558.76
Repos 17 415,542.09 9 222,153.14 8 193,388.95 0 0.00 17 415,542.09
--------------------------------------------------------------------------------------------------------------------
Total 8,031 290,964,649.94 171 5,133,955.42 27 766,145.43 0 0.00 198 5,900,100.85
====================================================================================================================
2.5% 2.03%
========================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
-------------------------------------------------------------------------------------------------------------
Excluding Repos 17 415,542.09 0 0.00 17 415,542.09 17 415,542.09
Repos
Total
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-98 Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov.
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
- ------------------------------------------------------------------------------------------------------------------------------------
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 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
FHA Insurance Pass Thru Period Net Cumulative
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
===============================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-98 Page 5 of 6
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current
Cert. Certificate Certificate Carryover Principal Principal
Class Balances Balances Principal Due Paid
- ------------------------------------------------------------------------------------------------------------------------------------
A-1 62,900,000.00 58,682,984.69 0.00 4,818,334.75 4,818,334.75
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 57,600,000.00 57,600,000.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00
A-3 33,700,000.00 33,700,000.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 18,700,000.00 18,700,000.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00
A-5 64,850,000.00 64,850,000.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00
M-1 23,250,000.00 23,250,000.00 0.00 0.00 0.00
M-1 Outstanding Writedown 0.00 0.00 0.00
M-2 12,750,000.00 12,750,000.00 0.00 0.00 0.00
M-2 Outstanding Writedown 0.00 0.00 0.00
B-1 11,250,000.00 11,250,000.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 15,000,000.00 15,000,000.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
---------------------------------------------------------------------------------------------------
300,000,000.00 295,782,984.69 0.00 4,818,334.75 4,818,334.75
===================================================================================================
Ending Prefunding Ending Principal Paid
Cert. Carryover Shortfall Writedown Certificate Pool Per $1,000
Class Principal Distribution Amounts Balances Factor Denomination
- ---------------------------- -------------------------------------------------------------------------------------------------
A-1 0.00 0.00 0.00 53,864,649.94 85.63537% 76.60
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 0.00 0.00 57,600,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 33,700,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 18,700,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 64,850,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M-1 0.00 0.00 0.00 23,250,000.00 100.00000% 0.00
M-1 Outstanding Writedown 0.00 0.00 0.00 0.00
M-2 0.00 0.00 0.00 12,750,000.00 100.00000% 0.00
M-2 Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 0.00 0.00 11,250,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 0.00 0.00 15,000,000.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
----------------------------------------------------------
0.00 0.00 0.00 290,964,649.94
==========================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: JULY 7, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 2
REMITTANCE REPORT
REPORTING MONTH: Jun-98 Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
--------------------------------------------------------------------------------------------------
A-1 5.69625% 0.00 278,560.79 278,560.79 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 6.15000% 0.00 295,200.00 295,200.00 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 6.20000% 0.00 174,116.67 174,116.67 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 6.35000% 0.00 98,954.17 98,954.17 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 6.67500% 0.00 360,728.13 360,728.13 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-1 6.80000% 0.00 131,750.00 131,750.00 0.00
M-1 Carryover Interest 0.00 0.00 0.00 0.00 0.00
M-1 Writedown Interest 0.00 0.00 0.00 0.00 0.00
M-2 7.02500% 0.00 74,640.63 74,640.63 0.00
M-2 Carryover Interest 0.00 0.00 0.00 0.00 0.00
M-2 Writedown Interest 0.00 0.00 0.00 0.00 0.00
B-1 7.45000% 0.00 69,843.75 69,843.75 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 7.75000% 0.00 96,875.00 96,875.00 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 0.00 875,771.81 875,771.81 0.00
R 0.00 0.00 0.00 0.00
Service Fee 0.00 246,485.82 246,485.82 0.00
--------------------------------------------------------------------------------------------
0.00 2,702,926.77 2,702,926.77 0.00
============================================================================================
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
----------------------------------------------------------------------------
A-1 0.00 4.75 A-1 5,096,895.54
A-1 Carryover Interest 0.00 0.00
A-1 Writedown Interest 0.00 0.00
A-2 0.00 5.13 A-2 295,200.00
A-2 Carryover Interest 0.00 0.00
A-2 Writedown Interest 0.00 0.00
A-3 0.00 5.17 A-3 174,116.67
A-3 Carryover Interest 0.00 0.00
A-3 Writedown Interest 0.00 0.00
A-4 0.00 5.29 A-4 98,954.17
A-4 Carryover Interest 0.00 0.00
A-4 Writedown Interest 0.00 0.00
A-5 0.00 5.56 A-5 360,728.13
A-5 Carryover Interest 0.00 0.00
A-5 Writedown Interest 0.00 0.00
M-1 0.00 5.67 M-1 131,750.00
M-1 Carryover Interest 0.00 0.00
M-1 Writedown Interest 0.00 0.00
M-2 0.00 5.85 M-2 74,640.63
M-2 Carryover Interest 0.00 0.00
M-2 Writedown Interest 0.00 0.00
B-1 0.00 6.21 B-1 69,843.75
B-1 Carryover Interest 0.00 0.00
B-1 Writedown Interest 0.00 0.00
B-2 0.00 6.46 B-2 96,875.00
B-2 Carryover Interest 0.00 0.00
B-2 Writedown Interest 0.00 0.00
X 0.00 X 875,771.81
R 0.00 R 0.00
Service Fee 0.00 246,485.82
--------- ----------------
0.00 7,521,261.52
=========
0.00
-----------------
7,521,261.52
=================