OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT Page 1 of 7
REPORTING MONTH: Jul-98
Scheduled Principal Balance of Contracts
- ---------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ---------------------------------------------------------------------------------------
188,049,996.94 (266,104.64) (775,612.37) (543,240.11) 0.00 186,465,039.82
=======================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -------------------------------------------------------------------------------------------------------------
1,710,746.99 156,708.33 1,554,038.66 394,266.14 0.00 3,146,730.14 0.00 3,146,730.14
=============================================================================================================
Certificate Account
- ---------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------
1,093,349.54 1,580,738.52 1,682,500.38 (3,358,799.66) 3,071.59 1,000,860.37
=======================================================================================
P&I Advances at Distribution Date
--------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
--------------------------------------------------------
1,166,288.19 1,137,067.89 981,279.82 1,010,500.12
=========================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT #6
REMITTANCE REPORT
REPORTING MONTH: Jul-98 Page 2 of 7
Class B Crossover Test Test Met? Average 60 day delinquency ratio:
------------------------------------------ -----------
(a) Remittance date on or after September 2002 N Over 60s Pool Balance %
--------------------------------------
(b) Average 60 day Delinquency rate <=5% Y Current Mo 5,577,540.56 186,465,039.82 2.99%
1st Preceding Mo 4,080,900.89 188,049,996.94 2.17%
(c) Average 30 day Delinquency rate <=7% Y 2nd Preceding Mo 3,124,366.31 189,679,324.75 1.65%
Divided by 3
---------
(d) Cumulative losses do not exceed the following 2.27%
percent of the intitial principal balance of =========
all Certificates
Average 30 day delinquency ratio:
Sep 2002-Feb 2004 7% N
Mar 2004-Feb 2005 8% N
Mar 2005 and thereafter 9% N Over 30s Pool Balance %
--------------------------------------
Current Mo 10,835,760.37 186,465,039.82 5.81%
1st Preceding Mo 9,531,398.43 188,049,996.94 5.07%
(e) Current realized loss ratio <= 2.75% Y 2nd Preceding Mo 7,565,490.52 189,679,324.75 3.99%
Divided by 3
---------
(f) Does Subordinated Certificate percentage equal or 4.96%
exceed 32.813% =========
of Pool Scheduled Principal Balance Cumulative loss ratio:
Beginning M balance 15,337,000.00 Cumulative losses 242,939.21
---------------
Beginning B-1 balance 14,843,000.00 Divided by Initial Certificate
Principal 197,901,846.00 0.123%
Beginning B-2 balance 6,926,846.00 =========
--------------
37,106,846.00
--------------
Divided by beginning pool
balance 188,049,996.94 Current realized loss ratio:
19.732% N Liquidation Pool
Losses Balance
-----------------------------
Current Mo 148,973.97 186,465,039.82
1st Preceding Mo 47,759.35 188,049,996.94
2nd Preceding Mo 35,441.73 189,679,324.75
0.495%
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT Page 3 of 7
REPORTING MONTH: Jul-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 4,922 184,156,861.39 148 5,009,576.25 53 1,882,077.78 42 1,635,927.91 243 8,527,581.94
Repos 73 2,308,178.43 8 248,643.56 14 507,076.95 51 1,552,457.92 73 2,308,178.43
-------------------------------------------------------------------------------------------------
Total 4,995 186,465,039.82 156 5,258,219.81 67 2,389,154.73 93 3,188,385.83 316 10,835,760.37
=================================================================================================
6.3% 5.81%
=====================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
------------------------------------------------------------------------
Excluding Repos 73 2,308,178.43 0 0.00 29 902,350.79 105 3,219,281.23
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT 6#
REMITTANCE REPORT
REPORTING MONTH: Jul-98 Page 4 of 7
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov.
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
- -------------------------------------------------------------------------------------------------------
139065-7 Rhine, K 35,527.90 26,500.00 897.44 27,397.44 500.00 26,897.44 1,203.08
139828-8 Bowen, A 35,452.24 34,000.00 1,559.36 35,559.36 4,910.00 30,649.36 2,435.53
140536-4 Huff, L 32,683.61 30,100.00 1,716.84 31,816.84 4,910.00 26,906.84 2,482.73
140941-6 Condon, R 4,065.95 0.01 1,214.89 1,214.90 500.00 714.90 1,366.29
141936-5 Grdjan, M 40,490.01 35,400.00 2,885.60 38,285.60 4,910.00 33,375.60 2,049.62
141982-9 Champney, M 38,231.46 34,500.00 1,275.58 35,775.58 4,910.00 30,865.58 2,528.75
142761-6 Newfeld, L 31,344.00 29,400.00 2,118.87 31,518.87 4,910.00 26,608.87 2,409.36
143217-8 Othoudt, T 28,074.44 25,400.00 2,299.60 27,699.60 4,910.00 22,789.60 2,158.04
143658-3 Trotter, M 36,511.39 31,400.00 2,663.76 34,063.76 4,910.00 29,153.76 2,806.55
143681-5 Ray, S 29,623.11 27,208.00 790.98 27,998.98 4,910.00 23,088.98 2,273.46
143927-2 Contreras, C 25,729.34 23,000.00 243.31 23,243.31 4,910.00 18,333.31 1,151.36
144142-7 Hendershot, R 27,355.02 24,500.00 2,132.78 26,632.78 4,910.00 21,722.78 1,743.70
144635-0 Tidwell, M 27,898.53 26,400.00 2,367.48 28,767.48 4,910.00 23,857.48 1,970.39
145322-4 Parkison, H 29,929.53 26,000.00 3,006.45 29,006.45 4,910.00 24,096.45 1,904.95
145736-5 Baehr, S 26,572.65 27,000.00 239.46 27,239.46 4,910.00 22,329.46 2,132.14
145782-9 Coffman, E 10,480.85 12,300.00 590.93 12,890.93 4,910.00 7,980.93 1,644.21
146112-8 Byram, E 44,481.85 43,500.00 912.34 44,412.34 8,720.00 35,692.34 3,197.07
146469-2 Smith, A 38,788.23 34,650.00 1,517.54 36,167.54 8,720.00 27,447.54 2,787.85
0.00 0.00
0.00 0.00
---------------------------------------------------------------------------------
543,240.11 491,258.01 28,433.21 519,691.22 87,180.00 432,511.22 38,245.08
=================================================================================
Net Current
Account Customer FHA Insurance Pass Thru Period Net Cumulative
Number Name Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ----------------------------------------------------------------------------
139065-7 Rhine, K 0.00 25,694.36 (9,833.54)
139828-8 Bowen, A 0.00 28,213.83 (7,238.41)
140536-4 Huff, L 0.00 24,424.11 (8,259.50)
140941-6 Condon, R 0.00 (651.39) (4,717.34)
141936-5 Grdjan, M 0.00 31,325.98 (9,164.03)
141982-9 Champney, M 0.00 28,336.83 (9,894.63)
142761-6 Newfeld, L 0.00 24,199.51 (7,144.49)
143217-8 Othoudt, T 0.00 20,631.56 (7,442.88)
143658-3 Trotter, M 0.00 26,347.21 (10,164.18)
143681-5 Ray, S 0.00 20,815.52 (8,807.59)
143927-2 Contreras, C 0.00 17,181.95 (8,547.39)
144142-7 Hendershot, R 0.00 19,979.08 (7,375.94)
144635-0 Tidwell, M 0.00 21,887.09 (6,011.44)
145322-4 Parkison, H 0.00 22,191.50 (7,738.03)
145736-5 Baehr, S 0.00 20,197.32 (6,375.33)
145782-9 Coffman, E 0.00 6,336.72 (4,144.13)
146112-8 Byram, E 0.00 32,495.27 (11,986.58)
146469-2 Smith, A 0.00 24,659.69 (14,128.54)
0.00 0.00 0.00
0.00 0.00 0.00
-------------------------------------------------
0.00 394,266.14 (148,973.97) (242,939.21)
=================================================
Count 18
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT
REPORTING MONTH: Jul-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 188,049,996.94
Certificate Principa1 Balance
of all outstanding Classes of Certificates 87,060,487.71
---------------
989,509.23
---------------
(C) CURRENT CLASS X STRIP AMOUNT 531,006.48
---------------
ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 0.00
----------------
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT
REPORTING MONTH: Jul-98 Page 6 of 7
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current Ending Accelerated
Cert. Certificate Certificate Carryover Principal Principal Carryover Principal
Class Balances Balances Principal Due Paid Principal Distribution
-----------------------------------------------------------------------------------------------------------------------------
A-1 35,000,000.00 24,158,641.71 0.00 1,584,957.12 1,584,957.12 0.00 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 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 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 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 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 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 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 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 0.00
----------------------------------------------------------------------------------------------------
197,901,846.00 188,049,996.92 0.00 1,584,957.12 1,584,957.12 0.00 0.00
====================================================================================================
Ending Principal Paid
Cert. Writedown Certificate Pool Per $1,000
Class Amounts Balances Factor Denomination
----------------------------------------------------------------------------------------
A-1 0.00 22,573,684.59 64.49624% 45.28
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 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 25,200,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 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 53,195,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 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 14,843,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 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 0.00 989,509.21
-------------------------
0.00 186,465,039.80
=========================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: August 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 6
REMITTANCE REPORT
REPORTING MONTH: Jul-98 Page 7 of 7
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest Ending
Class Rate Balance Accrual Paid Shortfall Balance
---------------------------------------------------------------------------------
A-1 6.20000% 0.00 124,819.65 124,819.65 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 1,083,474.45 531,006.48 382,032.51 148,973.97 1,232,448.42
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 156,708.33 156,708.33 0.00 0.00
------------------------------------------------------------------------
1,083,474.45 1,710,746.99 1,561,773.02 148,973.97 1,232,448.42
========================================================================
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
--------------------------------------------------
A-1 5.17 A-1 1,709,776.77
A-1 Carryover Interest 0.00
A-1 Writedown Interest 0.00
A-2 5.08 A-2 70,912.50
A-2 Carryover Interest 0.00
A-2 Writedown Interest 0.00
A-3 5.04 A-3 127,050.00
A-3 Carryover Interest 0.00
A-3 Writedown Interest 0.00
A-4 5.17 A-4 172,825.00
A-4 Carryover Interest 0.00
A-4 Writedown Interest 0.00
A-5 5.58 A-5 297,005.42
A-5 Carryover Interest 0.00
A-5 Writedown Interest 0.00
M 5.69 M 87,229.19
M Carryover Interest 0.00
M Writedown Interest 0.00
B-1 6.25 B-1 92,768.75
B-1 Carryover Interest 0.00
B-1 Writedown Interest 0.00
B-2 7.28 B-2 50,421.67
B-2 Carryover Interest 0.00 CUMULATIVE X INTEREST SHORTFALL 1,232,448.42
B-2 Writedown Interest 0.00 CUMULATIVE ACCELERATED PRINCIPAL DISTRIB (989,509.21)
--------------
X X 382,032.51 CUMULATIVE LOSSES 242,939.21
--------------
R R 0.00
Service Fee 156,708.33
--------------
3,146,730.14
==============