OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT Page 1 of 7
REPORTING MONTH: Aug-98
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- -------------------------------------------------------------------------------------------------------------------------------
186,465,039.82 (266,768.97) (1,009,800.21) (516,667.83) 0.00 184,671,802.81 1,692,516.96
===============================================================================================================================
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for Limited Total
Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- ------------------------------------------------------------------------------------------------------------------------------------
155,387.53 1,537,129.43 355,653.94 0.00 3,324,740.08 0.00 3,324,740.08
====================================================================================================================================
Certificate Account
- ---------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------------------------------------------------
1,000,860.37 1,769,895.49 1,585,204.33 (3,298,775.70) 3,075.56 1,060,260.05
=================================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------------------------
1,010,500.12 976,843.87 1,309,000.53 1,342,656.78
==================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
POOL REPORT # 7
Page 2 of 7
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: Aug-98
Class B Crossover Test Test Met?
- ------------------------------------------------------------- ---------------
(a) Remittance date on or after September 2002 N
(b) Average 60 day Delinquency rate <= 5% Y
(c) Average 30 day Delinquency rate <= 7% Y
(d) Cumulative losses do not exceed the following
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
(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 186,465,039.82
19.900% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 6,749,619.96 184,671,802.81 3.65%
1st Preceding Mo 5,577,540.56 186,465,039.82 2.99%
2nd Preceding Mo 4,080,900.89 188,049,996.94 2.17%
Divided by 3
-------------
2.94%
=============
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 13,366,724.84 184,671,802.81 7.24%
1st Preceding Mo 10,835,760.37 186,465,039.82 5.81%
2nd Preceding Mo 9,531,398.43 188,049,996.94 5.07%
Divided by 3
-------------
6.04%
=============
Cumulative loss ratio:
Cumulative losses 403,953.10
------------------------
Divided by Initial Certificate Principal 197,901,846.00 0.204%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
---------------------------------------------
Current Mo 161,013.89 184,671,802.81
1st Preceding Mo 148,973.97 186,465,039.82
2nd Preceding Mo 47,759.35 188,049,996.94
0.770%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT Page 3 of 7
REPORTING MONTH: Aug-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 4,862 181,607,026.77 202 6,604,358.73 49 1,661,665.76 53 2,057,605.69
Repos 93 3,064,776.04 1 12,746.15 18 592,163.78 73 2,438,184.73
---------------------------------------------------------------------------------------------------
Total 4,955 184,671,802.81 203 6,617,104.88 67 2,253,829.54 126 4,495,790.42
===================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
- ---------------------------------------------------------------------------------------------------------------------------------
304 10,323,630.18 93 3,064,776.04 0 0.00 39 1,280,774.45 144 4,500,055.68
92 3,043,094.66
- ----------------------------
396 13,366,724.84
============================
8.0% 7.24%
============================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: Aug-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
- ------------------------------------------------------------------------------------------------------------------------------------
139393-3 Dame, R 37,547.48 33,300.00 3,070.35 36,370.35 4,910.00 31,460.35
140630-5 Hatton, J 21,885.00 19,700.00 2,884.59 22,584.59 4,910.00 17,674.59
140695-8 Treadwell, B 22,320.60 23,400.00 339.83 23,739.83 4,910.00 18,829.83
141297-2 Scarbrough, K 32,230.48 30,500.00 342.00 30,842.00 4,910.00 25,932.00
141542-1 Oakes, E 26,457.67 26,400.00 244.24 26,644.24 4,910.00 21,734.24
141760-9 Hobbs, V 17,123.87 17,400.00 1,244.00 18,644.00 4,910.00 13,734.00
141850-8 Bellows, I 32,878.74 34,400.00 280.82 34,680.82 4,910.00 29,770.82
141991-0 King, J 26,693.27 23,900.00 1,110.12 25,010.12 4,910.00 20,100.12
143141-0 Douglas, A 26,500.26 28,000.00 2,019.06 30,019.06 4,910.00 25,109.06
143858-9 Campbell, L 33,780.36 35,000.00 2,777.49 37,777.49 4,910.00 32,867.49
143878-7 Singletary, J 34,325.77 31,000.00 798.48 31,798.48 4,910.00 26,888.48
143982-7 Beasley Jr, J 29,693.58 28,000.00 1,117.43 29,117.43 4,910.00 24,207.43
141052-1 Bray, W 50,756.12 47,750.00 805.26 48,555.26 8,720.00 39,835.26
142838-2 Baisey, B 45,369.54 40,250.00 1,258.99 41,508.99 8,720.00 32,788.99
144422-3 McCrackin, K 32,315.16 29,650.00 2,565.93 32,215.93 8,720.00 23,495.93
141353-3 Vaughn, C 7,613.15 500.00 142.18 642.18 500.00 142.18
141714-6 McLaughlin, L 14,988.64 3,000.00 0.00 3,000.00 500.00 2,500.00
145828-0 Speights, E 14,577.87 3,500.00 1,544.01 5,044.01 500.00 4,544.01
146641-6 Gaskins, J 9,610.27 3,500.00 1,212.19 4,712.19 500.00 4,212.19
0.00 0.00
-----------------------------------------------------------------------------------------------
516,667.83 459,150.00 23,756.97 482,906.97 87,080.00 395,826.97
===============================================================================================
Net Current
Account Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Number Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- --------------------------------------------------------------------------------------------------------------
139393-3 2,145.10 0.00 29,315.25 (8,232.23)
140630-5 1,511.79 0.00 16,162.80 (5,722.20)
140695-8 1,987.77 0.00 16,842.06 (5,478.54)
141297-2 2,910.49 0.00 23,021.51 (9,208.97)
141542-1 2,025.34 0.00 19,708.90 (6,748.77)
141760-9 1,535.09 0.00 12,198.91 (4,924.96)
141850-8 1,567.94 0.00 28,202.88 (4,675.86)
141991-0 2,402.16 0.00 17,697.96 (8,995.31)
143141-0 1,614.79 0.00 23,494.27 (3,005.99)
143858-9 2,530.07 0.00 30,337.42 (3,442.94)
143878-7 3,094.08 0.00 23,794.40 (10,531.37)
143982-7 2,676.57 0.00 21,530.86 (8,162.72)
141052-1 3,182.10 0.00 36,653.16 (14,102.96)
142838-2 1,848.28 0.00 30,940.71 (14,428.83)
144422-3 2,718.61 0.00 20,777.32 (11,537.84)
141353-3 1,502.93 0.00 (1,360.75) (8,973.90)
141714-6 1,835.30 0.00 664.70 (14,323.94)
145828-0 1,189.31 0.00 3,354.70 (11,223.17)
146641-6 1,895.31 0.00 2,316.88 (7,293.39)
0.00 0.00 0.00
---------------------------------------------------------------------------
40,173.03 0.00 355,653.94 (161,013.89) (403,953.10)
===============================================================================================
Count 19
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: Aug-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 186,465,039.82
Certificate Principal Balance of all outstanding Classes of Certificates 185,475,530.59
---------------------
989,509.23
---------------------
(C) CURRENT CLASS X STRIP AMOUNT 361,272.31
---------------------
ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 0.00
---------------------
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: Aug-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 22,573,684.59 0.00 1,793,237.01 1,793,237.01
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 0.00 989,509.21 0.00 0.00 0.00
----------------------------------------------------------------------------------------------
197,901,846.00 186,465,039.80 0.00 1,793,237.01 1,793,237.01
==============================================================================================
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 0.00 0.00 20,780,447.58 59.37271% 51.24
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 0.00 0.00 989,509.21
------------------------------------------------------------------
0.00 0.00 0.00 184,671,802.79
==================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: September 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 7
REMITTANCE REPORT
REPORTING MONTH: Aug-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% 0.00 116,630.70 116,630.70 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 1,232,448.42 522,286.20 361,272.31 161,013.89 1,393,462.31
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 155,387.53 155,387.53 0.00 0.00
--------------------------------------------------------------------------------------------------
1,232,448.42 1,692,516.96 1,531,503.07 161,013.89 1,393,462.31
==================================================================================================
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
---------------------------------------------------
A-1 5.17 A-1 1,909,867.71
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 1,393,462.31
B-2 Writedown Interest 0.00 CUMULATIVE ACCELERATED PRINCIPAL DISTRIB (989,509.21)
-------------
X X 361,272.31 CUMULATIVE LOSSES 403,953.10
-------------
R R 0.00
Service Fee 155,387.53
-----------------
3,324,740.08
=================