OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: 9/30/98
REPORT DATE: October 12, 1998
POOL REPORT # 8
Page 1 of 7
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------
Beginning Ending
Principal Scheduled Prepaid Liquidated Contracts Principal
Balance Principal Principal Principal Repurchased Balance
- ---------------------------------------------------------------------------------
184,671,802.81 (267,308.62)(895,915.59) (839,154.72) 0.00 182,669,423.88
=================================================================================
Scheduled Scheduled Amount
Gross Servicing Pass Thru Liquidation Reserve Available for Limited Total
Interest Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- --------------------------------------------------------------------------------------------------------------
1,673,995.47 153,893.17 1,520,102.30 623,618.60 0.00 3,460,838.28 0.00 3,460,838.28
==============================================================================================================
Certificate Account
- -------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- -------------------------------------------------------------------------------------
1,060,260.05 1,995,391.75 1,622,355.36 (3,488,829.53) 3,150.69 1,192,328.32
=====================================================================================
P&I Advances at Distribution Date
- -------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- -------------------------------------------------------
1,342,656.78 1,302,298.81 1,190,325.32 1,230,683.29
=======================================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: 9/30/98
REPORT DATE: October 12, 1998
POOL REPORT #8
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 7,785,082.34 182,669,423.88 4.26%
1st Preceding Mo 6,749,619.96 184,671,802.81 3.65%
(c) Average 30 day Delinquency rate <= 7% Y 2nd Preceding Mo 5,577,540.56 186,465,039.82 2.99%
Divided by 3
---------
(d) Cumulative losses do not exceed the following 3.64%
=========
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 13,762,824.42 182,669,423.88 7.53%
1st Preceding Mo 13,366,724.84 184,671,802.81 7.24%
(e) Current realized loss ratio <= 2.75% Y 2nd Preceding Mo 10,835,760.37 186,465,039.82 5.81%
Divided by 3
---------
(f) Does Subordinated Certificate percentage equal or 6.86%
=========
exceed 32.813%
of Pool Scheduled Principal Balance Cumulative loss ratio:
Beginning M balance 15,337,000.00 Cumulative losses 619,489.22
----------------
Beginning B-1 balance 14,843,000.00 Divided by Initial
Certificate Principal 197,901,846.00 0.313%
Beginning B-2 balance 6,926,846.00 =========
---------------
37,106,846.00
---------------
Divided by beginning pool
balance 184,671,802.81 Current realized loss ratio:
20.093% N Liquidation Pool
Losses Balance
-----------------------------
Current Mo 215,536.12 182,669,423.88
1st Preceding Mo 161,013.89 184,671,802.81
2nd Preceding Mo 148,973.97 186,465,039.82
1.144%
=========
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: 9/30/98
REPORT DATE: October 12, 1998
POOL REPORT # 8
Page 3 of 7
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 4,800 179,166,457.06 165 5,821,688.85 74 2,457,312.11 54 2,028,799.32 293 10,307,800.28
Repos 105 3,502,966.82 5 156,053.23 11 262,823.34 87 3,036,147.57 103 3,455,024.14
-----------------------------------------------------------------------------------------------------
Total 4,905 182,669,423.88 170 5,977,742.08 85 2,720,135.45 141 5,064,946.89 396 13,762,824.42
=====================================================================================================
8.1% 7.53%
===================
Repossession Analysis
Active Repos Reversal Current Month
Outstanding (Redemption) Repos Cumulative Repos
Principal Principal Principal Principal
# Balance # Balance # Balance # Balance
---------------------------------------------------------------------------------
Excluding Repos 105 3,502,966.82 0 0.00 41 1,259,089.33 185 5,759,145.01
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: October 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT #8
REMITTANCE REPORT
REPORTING MONTH: 9/30/98 Page 4 of 7
REPOSSESSION LIQUIDATION REPORT
Liquidated Net
Account Customer Principal Sales Insur. Total Repossession Liquidation Unrecov. FHA Insurance
Number Name Balance Proceeds Refunds Proceeds Expenses Proceeds Advances Coverage
- ----------------------------------------------------------------------------------------------------------------------
136220-1 Harmon Jr, L 26,826.89 25,500.00 96.67 25,596.67 4,910.00 20,686.67 2,398.50 7,684.85
138577-2 Dotson, C 27,899.48 32,000.00 3,391.17 35,391.17 4,910.00 30,481.17 2,594.45 0.00
139081-4 Amick, M 24,719.48 26,095.00 0.00 26,095.00 4,910.00 21,185.00 1,586.56 0.00
140540-6 Miller, R 26,680.83 27,125.00 1,888.11 29,013.11 4,910.00 24,103.11 1,605.92 0.00
140719-6 Townsend, D 26,003.91 24,550.00 1,461.94 26,011.94 4,910.00 21,101.94 2,008.83 0.00
140720-4 Darden, R 15,877.44 15,400.00 82.77 15,482.77 4,910.00 10,572.77 1,917.96 0.00
140906-9 Sullivan, M 32,230.73 34,000.00 0.00 34,000.00 4,910.00 29,090.00 2,490.16 0.00
141003-4 Boddie, A 8,690.93 13,000.00 64.50 13,064.50 4,910.00 8,154.50 2,724.80 0.00
141098-4 Warren, A 17,517.93 17,300.00 0.00 17,300.00 4,910.00 12,390.00 1,776.13 0.00
141919-1 Jackson, W 18,465.70 12,000.00 875.24 12,875.24 4,910.00 7,965.24 1,911.87 0.00
142522-2 Zoppi, T 31,131.18 31,500.00 881.58 32,381.58 4,910.00 27,471.58 1,589.71 0.00
143180-8 Pelfrey, S 24,137.29 23,400.00 906.48 24,306.48 4,910.00 19,396.48 2,497.26 0.00
143378-8 Buck, E 26,467.85 24,000.00 615.98 24,615.98 4,910.00 19,705.98 2,389.84 0.00
143478-6 Lawrence, R 30,683.46 31,400.00 1,964.24 33,364.24 4,910.00 28,454.24 2,696.69 0.00
143482-8 Archie Jr, E 38,060.38 34,500.00 927.90 35,427.90 4,910.00 30,517.90 2,393.80 0.00
143515-5 Monhollen, R 23,253.57 20,000.00 176.56 20,176.56 4,910.00 15,266.56 2,099.52 0.00
144055-1 Garett, D 34,056.30 34,125.00 0.00 34,125.00 4,910.00 29,215.00 2,834.08 0.00
144056-9 Souva, J 28,908.95 28,400.00 234.54 28,634.54 4,910.00 23,724.54 2,990.96 0.00
144058-5 Langely, S 29,919.75 28,500.00 914.64 29,414.64 4,910.00 24,504.64 2,307.30 0.00
144990-9 Cofer, M 9,679.65 8,900.00 0.00 8,900.00 4,910.00 3,990.00 1,550.60 0.00
145310-9 Adam, M 28,942.23 28,745.00 1,881.94 30,626.94 4,910.00 25,716.94 1,467.22 0.00
145732-4 Waller, O 28,418.45 27,900.00 563.04 28,463.04 4,910.00 23,553.04 2,187.96 0.00
145928-8 Morris, F 14,270.47 8,000.00 482.94 8,482.94 4,910.00 3,572.94 1,061.30 0.00
140519-0 Mixon, J 44,293.65 42,650.00 2,877.95 45,527.95 8,720.00 36,807.95 4,140.21 0.00
142660-0 Chavez, E 53,336.66 55,450.00 1,592.27 57,042.27 8,720.00 48,322.27 2,124.40 0.00
143778-9 O'Rourke, E 51,107.88 49,680.00 606.92 50,286.92 8,720.00 41,566.92 2,562.05 0.00
145000-6 Stanbrough, R 56,081.85 56,650.00 2,235.27 58,885.27 8,720.00 50,165.27 4,572.31 0.00
145965-0 Gibson, L 49,263.59 47,750.00 2,411.36 50,161.36 8,720.00 41,441.36 2,947.70 0.00
142796-2 Graham, L 12,228.24 2,500.00 1,296.48 3,796.48 500.00 3,296.48 1,058.65 0.00
0.00 0.00 0.00
----------------------------------------------------------------------------------------------
839,154.72 811,020.00 28,430.49 839,450.49 157,030.00 682,420.49 66,486.74 7,684.85
==============================================================================================
Count 29
Net Current
Account Customer Pass Thru Period Net Cumulative
Number Name Proceeds Gain/(Loss) Gain/(Loss)
- --------------------------------------------------------------
136220-1 Harmon Jr, L 25,973.02 (853.87)
138577-2 Dotson, C 27,886.72 (12.76)
139081-4 Amick, M 19,598.44 (5,121.04)
140540-6 Miller, R 22,497.19 (4,183.64)
140719-6 Townsend, D 19,093.11 (6,910.80)
140720-4 Darden, R 8,654.81 (7,222.63)
140906-9 Sullivan, M 26,599.84 (5,630.89)
141003-4 Boddie, A 5,429.70 (3,261.23)
141098-4 Warren, A 10,613.87 (6,904.06)
141919-1 Jackson, W 6,053.37 (12,412.33)
142522-2 Zoppi, T 25,881.87 (5,249.31)
143180-8 Pelfrey, S 16,899.22 (7,238.07)
143378-8 Buck, E 17,316.14 (9,151.71)
143478-6 Lawrence, R 25,757.55 (4,925.91)
143482-8 Archie Jr, E 28,124.10 (9,936.28)
143515-5 Monhollen, R 13,167.04 (10,086.53)
144055-1 Garett, D 26,380.92 (7,675.38)
144056-9 Souva, J 20,733.58 (8,175.37)
144058-5 Langely, S 22,197.34 (7,722.41)
144990-9 Cofer, M 2,439.40 (7,240.25)
145310-9 Adam, M 24,249.72 (4,692.51)
145732-4 Waller, O 21,365.08 (7,053.37)
145928-8 Morris, F 2,511.64 (11,758.83)
140519-0 Mixon, J 32,667.74 (11,625.91)
142660-0 Chavez, E 46,197.87 (7,138.79)
143778-9 O'Rourke, E 39,004.87 (12,103.01)
145000-6 Stanbrough, R 45,592.96 (10,488.89)
145965-0 Gibson, L 38,493.66 (10,769.93)
142796-2 Graham, L 2,237.83 (9,990.41)
0.00 0.00
----------------------------
623,618.60 (215,536.12) (619,489.22)
========================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: October 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 8
REMITTANCE REPORT
REPORTING MONTH: Sep-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 184,671,802.81
Certificate Principal Balance of all outstanding
Classes of Certificates 183,682,293.58
-------------------
989,509.23
-------------------
(C) CURRENT CLASS X STRIP AMOUNT 298,988.00
-------------------
ACCELERATED PRINCIPAL DISTRIBUTION AMOUNT 0.00
-------------------
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A
OAKWOOD ACCEPTANCE CORP. - SERVICER
REMITTANCE REPORT
REPORTING MONTH: 9/30/98
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Current Ending
Cert. Certificate Certificate Carryover Principal Principal Carryover
Class Balances Balances Principal Due Paid Principal
- ---------------------------------------------------------------------------------------------------------------
A-1 35,000,000.00 20,780,447.58 0.00 2,002,378.93 2,002,378.93 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
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
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
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
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
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
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
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
------------------------------------------------------------------------------------
197,901,846.00 184,671,802.79 0.00 2,002,378.93 2,002,378.93 0.00
====================================================================================
REPORT DATE: October 12, 1998
POOL REPORT # 8
Page 6 of 7
PRINCIPAL
Accelerated Ending Principal Paid
Cert. Principal Writedown Certificate Pool Per $1,000
Class Distribution Amounts Balances Factor Denomination
- -------------------------------------------------------------------------------------------------------
A-1 0.00 0.00 18,778,068.65 53.65162% 57.21
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 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 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 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 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 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 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 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 0.00 989,509.21
----------------------------------------------
0.00 0.00 182,669,423.86
==============================================
OAKWOOD MORTGAGE INVESTORS, INC. 1998-A REPORT DATE: October 12, 1998
OAKWOOD ACCEPTANCE CORP. - SERVICER POOL REPORT # 8
REMITTANCE REPORT
REPORTING MONTH: 9/30/98 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% 0.00 107,365.65 107,365.65 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 1,393,462.31 514,524.12 298,988.00 215,536.12 1,608,998.43
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 153,893.17 153,893.17 0.00 0.00
-------------------------------------------------------------------
1,393,462.31 1,673,995.47 1,458,459.35 215,536.12 1,608,998.43
===================================================================
Interest Paid
Certificate Per $1,000 Cert. TOTAL
Class Denomination Class DISTRIBUTION
--------------------------------------------
A-1 5.17 A-1 2,109,744.58
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 1,608,998.43
B-2 Writedown Interest 0.00 CUMULATIVE ACCELERATED PRINCIPAL DISTRIB (989,509.21)
-------------
X X 298,988.00 CUMULATIVE LOSSES 619,489.22
-------------
R R 0.00
Service Fee 153,893.17
---------
3,460,838.28
=========