OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 1 of 6
REPORTING MONTH: Aug-98
Scheduled Principal Balance of Contracts
- ------------------------------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ------------------------------------------------------------------------------------------------------
287,155,127.23 (421,849.94) (2,303,877.96) (295,955.65) 0.00 284,133,443.68
======================================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -------------------------------------------------------------------------------------------------------------------------------
2,631,990.76 239,295.94 2,392,694.82 217,573.88 0.00 5,575,292.54 0.00 5,575,292.54
===============================================================================================================================
Certificate Account
- -----------------------------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- -----------------------------------------------------------------------------------------------------------------------------------
3,372,054.95 2,981,411.72 2,414,594.72 (6,485,806.60) 8,201.70 2,290,456.49
===================================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------------------------
1,338,818.61 1,320,898.45 1,720,825.61 1,738,745.77
==================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT
REPORTING MONTH: Aug-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% 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
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
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 287,155,127.23
21.678% N
Average 60 day delinquency ratio:
Over 60s Pool Balance %
--------------------------------------------------------
Current Mo 5,103,359.78 284,133,443.68 1.80%
1st Preceding Mo 3,313,032.71 287,155,127.23 1.15%
2nd Preceding Mo 766,145.43 290,964,649.94 0.26%
Divided by 3
-------------
1.07%
=============
Average 30 day delinquency ratio:
Over 30s Pool Balance %
--------------------------------------------------------
Current Mo 13,354,810.28 284,133,443.68 4.70%
1st Preceding Mo 8,681,505.05 287,155,127.23 3.02%
2nd Preceding Mo 5,900,100.85 290,964,649.94 2.03%
Divided by 3
-------------
3.25%
=============
Cumulative loss ratio:
Cumulative losses 78,381.77
------------------------
Divided by Initial Certificate
Principal 300,000,000.00 0.026%
=============
Current realized loss ratio:
Liquidation Pool
Losses Balance
-------------------------------------------
Current Mo 78,381.77 284,133,443.68
1st Preceding Mo 0.00 287,155,127.23
2nd Preceding Mo 0.00 290,964,649.94
0.109%
=============
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT Page 3 of 6
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 7,823 282,275,281.21 261 8,034,951.25 69 2,204,712.78 44 1,256,983.78
Repos 65 1,858,162.47 8 216,499.25 18 502,100.05 39 1,139,563.17
----------------------------------------------------------------------------------------------------------------
Total 7,888 284,133,443.68 269 8,251,450.50 87 2,706,812.83 83 2,396,546.95
================================================================================================================
Repossession Analysis
Active Repos Reversal Current Month
Total Delinq. Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal Principal
# Balance # Balance # Balance # Balance # Balance
- -----------------------------------------------------------------------------------------------------------------------------------
374 11,496,647.81 65 1,858,162.47 -1 (27,819.02) 30 921,258.26 76 2,158,396.17
65 1,858,162.47
- -------------------------------
439 13,354,810.28
===============================
5.6% 4.70%
===============================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT
REPORTING MONTH: Aug-98 Page 4 of 6
REPOSSESSION LIQUIDATION REPORT
Liquidated
Account Customer Principal Sales Insur. Total Repossession
Number Name Balance Proceeds Refunds Proceeds Expenses
- ----------------------------------------------------------------------------------------------------------------------------
147306-5 R. RICH 3,806.41 500.00 307.94 807.94 500.00
147613-4 M. BENNINGFIELD 27,742.13 24,000.00 2,053.10 26,053.10 4,910.00
147696-9 R. RODRIGUEZ 30,194.53 29,400.00 601.92 30,001.92 4,910.00
147782-7 J. GIBSON 50,665.00 47,650.00 1,645.36 49,295.36 8,720.00
148529-1 M. ALLEN 12,988.81 3,500.00 323.91 3,823.91 500.00
148726-3 L. HAMMER 36,534.92 37,000.00 1,241.86 38,241.86 4,910.00
148986-3 B. WHITE 11,390.68 2,500.00 309.77 2,809.77 500.00
149475-6 S. PRUITT 30,511.95 30,400.00 1,164.34 31,564.34 4,910.00
149674-4 L. MEDELLIN 37,810.27 33,700.00 469.06 34,169.06 4,910.00
150798-7 P. HLAS 24,028.07 24,400.00 1,975.03 26,375.03 4,910.00
151637-6 C. WOOD 30,282.88 33,000.00 1,258.57 34,258.57 4,910.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
------------------------------------------------------------------------------------
295,955.65 266,050.00 11,350.86 277,400.86 44,590.00
====================================================================================
Net Net Current
Liquidation Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ----------------------------------------------------------------------------------------------------------
307.94 987.58 0.00 (679.64) (4,486.05)
21,143.10 1,769.15 0.00 19,373.95 (8,368.18)
25,091.92 1,526.28 0.00 23,565.64 (6,628.89)
40,575.36 1,456.86 0.00 39,118.50 (11,546.50)
3,323.91 893.18 0.00 2,430.73 (10,558.08)
33,331.86 1,794.54 0.00 31,537.32 (4,997.60)
2,309.77 964.76 0.00 1,345.01 (10,045.67)
26,654.34 1,442.33 0.00 25,212.01 (5,299.94)
29,259.06 1,911.81 0.00 27,347.25 (10,463.02)
21,465.03 1,005.24 0.00 20,459.79 (3,568.28)
29,348.57 1,485.25 0.00 27,863.32 (2,419.56)
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
- ------------------------------------------------------------------------------------------
232,810.86 15,236.98 0.00 217,573.88 (78,381.77) (78,381.77)
==========================================================================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT
REPORTING MONTH: Aug-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 50,055,127.23 0.00 3,021,683.55 3,021,683.55
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
------------------------------------------------------------------------------------------------
300,000,000.00 287,155,127.23 0.00 3,021,683.55 3,021,683.55
================================================================================================
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 47,033,443.68 74.77495% 48.04
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 0.00 284,133,443.68
============================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-B REPORT DATE: SEPTEMBER 8, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 4
REMITTANCE REPORT
REPORTING MONTH: Aug-98 Page 6 of 6
CERTIFICATE INTEREST ANALYSIS
Certificate Remittance Beginning Current Total Interest
Class Rate Balance Accrual Paid Shortfall
--------------------------------------------------------------------------------------------------
A-1 5.68063% 0.00 244,852.34 244,852.34 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 0.00 845,734.13 767,352.36 78,381.77
R 0.00 0.00 0.00 0.00
Service Fee 0.00 239,295.94 239,295.94 0.00
-----------------------------------------------------------------------------------
0.00 2,631,990.76 2,553,608.99 78,381.77
===================================================================================
Interest Paid
Certificate Ending Per $1,000 Cert. TOTAL
Class Balance Denomination Class DISTRIBUTION
------------------------------------------------------------------------------------------
A-1 0.00 4.89 A-1 3,266,535.89
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 78,381.77 X 767,352.36
R 0.00 R 0.00
Service Fee 0.00 239,295.94
---------------- --------------------
78,381.77 5,575,292.54
================
0.00
--------------------
5,575,292.54
====================