Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Note: This fiscal year-end series report, reports information on the assets
included in OMI Trust 1997-D as of the end of the prepayment period that began
on September 1, 1997 and ended on September 30, 1998 and as of the end of the
collection period that began on September 2, 1997 and ended on October 1, 1998.
Accordingly, the information presented with regard to the certificates reflects
information as of the close of business on October 15, 1998, which is the
distribution date on which collections made and losses incurred during such
prepayment period and collection period were passed through to
certificateholders
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------
Beginning Ending Scheduled
Principal Scheduled Prepaid Liquidated Contracts Principal Gross
Balance Principal Principal Principal Repurchased Balance Interest
- ------------------------------------------------------------------------------------------------------------------------------
252,393,252.30 (3,696,667.67) (15,355,430.06) (4,757,942.82) 0.00 228,583,211.75 22,859,860.35
==============================================================================================================================
Scheduled Principal Balance of Contracts
- --------------------------------------------------------------------------------
Scheduled Amount
Servicing Pass Thru Liquidation Reserve Available for Limited Total
Fee Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -------------------------------------------------------------------------------------------------------------------------------
2,219,662.02 20,640,198.33 3,547,354.95 0.00 45,459,313.03 0.00 45,459,313.03
===============================================================================================================================
Certificate Account
- ----------------------------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- -----------------------------------------------------------------------------------------------------------------
0.00 23,393,944.45 20,346,903.68 (42,129,503.32) 44,814.49 1,656,159.30
=================================================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------------------------
0.00 10,133,328.26 11,392,055.79 1,258,727.53
============================================================================
Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Gross Repossessions Repo Properties Brought
Current by Borrower
# Principal Balance # Principal Balance
----------------------------------------------------------------------------
Nov-97 1 20,340.00 0 0.00
Dec-97 13 387,336.88 0 0.00
Jan-98 32 1,027,003.22 (1) (13,205.51)
Feb-98 41 1,322,580.66 (1) (23,284.58)
Mar-98 64 1,946,169.36 (2) (99,140.65)
Apr-98 71 2,121,373.19 (2) (62,332.08)
May-98 79 2,608,641.07 (1) (23,963.25)
Jun-98 91 2,875,966.10 0 0.00
Jul-98 103 3,512,418.04 (2) (53,286.05)
Aug-98 105 3,622,416.74 (1) (31,913.75)
Sep-98 110 3,912,920.64 0 0.00
----------------------------------------------------------------------------
Total of month
end balance 710 23,357,165.90 (10) (307,125.87)
============================================================================
Average month
end balance 65 2,123,378.72 -1 (27,920.53)
============================================================================
Current by BorroNet Current Repos Aggregate Repo Properties in
Trust at Month-End
# Principal Balance # Principal Balance
--------------------------------------------------------------------------
Nov-97 1 20,340.00 1 20,340.00
Dec-97 12 366,996.88 13 387,336.88
Jan-98 22 727,307.25 34 1,101,438.62
Feb-98 16 487,085.41 49 1,565,239.45
Mar-98 35 1,053,908.12 82 2,520,006.92
Apr-98 31 860,203.61 111 3,317,878.45
May-98 34 1,106,835.80 144 4,400,751.00
Jun-98 29 807,637.10 173 5,208,388.10
Jul-98 39 1,389,038.85 210 6,544,140.90
Aug-98 29 932,915.38 238 7,445,142.53
Sep-98 37 1,306,909.02 275 8,752,051.55
--------------------------------------------------------------------------
Total of month
end balance 285 9,059,177.42 1,330 41,262,714.40
==========================================================================
Average month
end balance 26 823,561.58 121 3,751,155.85
==========================================================================
Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Delinquency Analysis
31 to 59 days 60 to 89 days
No. of Principal Principal
Loans Balance # Balance
-------------------------------------------------------------
Nov-97 50 1,825,870.78 2 63,881.68
Dec-97 228 7,162,600.91 69 2,225,265.91
Jan-98 173 5465844.18 43 1254178.1
Feb-98 117 3790431.5 70 2292236.16
Mar-98 110 3340601.84 54 1888458.47
Apr-98 142 4545913.61 67 2150188.74
May-98 156 5428278.44 65 2160759.01
Jun-98 177 5770968.45 70 2532778.31
Jul-98 136 4275664.21 75 2455620.47
Aug-98 197 6607275.19 62 1971944.65
Sep-98 174 5789632.38 68 2295122.92
-------------------------------------------------------------
Total of month
end balance 1,660 54,003,081.49 645 21,290,434.42
=============================================================
Average month
end balance 151 4,909,371.04 59 1,935,494.04
=============================================================
90 days and Over Total Delinq.
Principal Principal
# Balance # Balance
-------------------------------------------------------------
Nov-97 0 0.00 52 1,889,752.46
Dec-97 37 1,321,111.37 334 10,708,978.19
Jan-98 20 679385.75 236 7,399,408.03
Feb-98 45 1459009.33 232 7,541,676.99
Mar-98 83 2857287.63 247 8,086,347.94
Apr-98 90 3237646.06 299 9,933,748.41
May-98 109 3903729.82 330 11,492,767.27
Jun-98 135 4709880.23 382 13,013,626.99
Jul-98 149 5374055.6 360 12,105,340.28
Aug-98 163 5914988.88 422 14,494,208.72
Sep-98 164 5922465.25 406 14,007,220.55
-------------------------------------------------------------
Total of month
end balance 995 35,379,559.92 3,300 110,673,075.83
=============================================================
Average month
end balance 90 3,216,323.63 300 10,061,188.71
=============================================================
Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
REPOSSESSION LIQUIDATION REPORT
See Monthly Investor Report for Detail
Prepayment Liquidated Principal Sales Insur. Total Repossession
Period Balance Proceeds Refunds Proceeds Expenses
- ------------------------------------------------------------------------------------------------------
Nov-97 0.00 0.00 0.00 0.00 0.00
Dec-97 0.00 0.00 0.00 0.00 0.00
Jan-98 48,393.79 49,750.00 0.00 49,750.00 7,036.74
Feb-98 166,509.63 143,150.00 5,571.74 148,721.74 24,078.98
Mar-98 328,796.67 305,450.00 14,614.08 320,064.08 43,242.17
Apr-98 617,871.08 594,786.00 17,223.57 612,009.57 111,940.00
May-98 585,596.73 553,080.00 13,285.64 566,365.64 119,270.00
Jun-98 535,625.68 502,050.00 10,132.58 512,182.58 91,310.00
Jul-98 689,090.72 662,874.33 14,997.73 677,872.06 133,580.00
Aug-98 780,887.79 727,223.50 5,415.10 732,638.60 128,470.00
Sep-98 1,005,170.73 1,013,300.00 20,553.02 1,033,853.02 183,190.00
=========================================================================================
Total 4,757,942.82 4,551,663.83 101,793.46 4,653,457.29 842,117.89
=========================================================================================
Net Net Current
Prepayment Liquidation Unrecov. FHA Insurance Pass Thru Period Net Cumulative
Period Proceeds Advances Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ----------- --------------------------------------------------------------------------------------------------------------
Nov-97 0.00 0.00 0.00 0.00 0.00
Dec-97 0.00 0.00 0.00 0.00 0.00
Jan-98 42,713.26 1,527.22 6,486.98 47,673.02 (720.77)
Feb-98 124,642.76 7,334.42 28,482.85 145,791.19 (20,718.44)
Mar-98 276,821.91 17,877.14 0.00 258,944.77 (69,851.90)
Apr-98 500,069.57 35,476.48 3,768.98 468,362.07 (149,509.01)
May-98 447,095.64 43,900.35 25,329.39 428,524.68 (157,072.05)
Jun-98 420,872.58 34,717.43 6,415.63 392,570.78 (143,054.90)
Jul-98 544,292.06 57,129.84 0.00 487,162.22 (201,928.50)
Aug-98 604,168.60 64,337.89 7,466.54 547,297.25 (233,590.54)
Sep-98 850,663.02 84,333.06 4,699.01 771,028.97 (234,141.76)
==============================================================================================================
Total 3,811,339.40 346,633.83 82,649.38 3,547,354.95 (1,210,587.87) (1,210,587.87)
==============================================================================================================
Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
CERTIFICATE PRINCIPAL ANALYSIS
PRINCIPAL
Original Beginning Beginning Current Accelerated Ending
Cert. Certificate Certificate Carryover Principal Principal Carryover
Class Balances Balances Principal Distribution Distribution Principal
- ---------------------------------------------------------------------------------------------------------------------
A-1 46,940,000.00 46,940,000.00 0.00 23,810,040.55 0.00 0.00
A-1 Outstanding Writedown 0.00 0.00
A-2 46,290,000.00 46,290,000.00 0.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00
A-3 30,260,000.00 30,260,000.00 0.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00
A-4 15,340,000.00 15,340,000.00 0.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00
A-5 62,453,000.00 62,453,000.00 0.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00
M 17,037,000.00 17,037,000.00 0.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00
B-1 23,977,000.00 23,977,000.00 0.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00
B-2 10,096,252.00 10,096,252.00 0.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00
---------------------------------------------------------------------------
252,393,252.00 0.00 23,810,040.55 0.00 0.00
===========================================================================
Ending Principal Paid
Cert. Writedown Certificate Pool Per $1,000
Class Amounts Balances Factor Denomination
- -------------------------- --------------------------------------------------------
A-1 0.00 23,129,959.45 49.27558% 507.24
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 0.00 46,290,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00 0.00
A-3 0.00 30,260,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00 0.00
A-4 0.00 15,340,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00 0.00
A-5 0.00 62,453,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00 0.00
M 0.00 17,037,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 0.00 23,977,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00 0.00
B-2 0.00 10,096,252.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
-------------------------------------------
0.00 228,583,211.45 7.49
===========================================
(1) This represents the amount of losses on the assets that
were allocated to reduce the outstanding principal balance
of the certificates in accordance with the applicable
pooling and servicing agreement.
Oakwood Mortgage Investors, Inc. 1997-D
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate RemittanceBeginning Current Total Interest Ending Per $1,000
Class Rate Balance Accrual Paid Shortfall Balance Denomination
---------------------------------------------------------------------------------------------------
A-1 VARIOUS 0.00 1,937,358.59 1,937,358.59 0.00 0.00 41.27
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 6.35000% 0.00 2,694,463.75 2,694,463.75 0.00 0.00 58.21
A-2 Carryover Interest 0.00000% 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 6.50000% 0.00 1,802,991.63 1,802,991.63 0.00 0.00 59.58
A-3 Carryover Interest 0.00000% 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 6.72500% 0.00 945,647.12 945,647.12 0.00 0.00 61.65
A-4 Carryover Interest 0.00000% 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 6.95000% 0.00 3,978,776.56 3,978,776.56 0.00 0.00 63.71
A-5 Carryover Interest 0.00000% 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 6.95000% 0.00 1,085,398.93 1,085,398.93 0.00 0.00 63.71
M Carryover Interest 0.00000% 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 7.32500% 0.00 1,609,955.60 1,609,955.60 0.00 0.00 67.15
B-1 Carryover Interest 0.00000% 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 7.55000% 0.00 698,744.75 698,744.75 0.00 0.00 69.21
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
Limited Guarantee 0.00 0.00 0.00 0.00 0.00 0.00
X 0.00 5,886,861.40 4,676,273.53 1,210,587.87 1,210,587.87
R 0.00 0.00 0.00 0.00 0.00
Service Fee 0.00 2,219,662.02 2,219,662.02 0.00 0.00
-----------------------------------------------------------------------
0.00 22,859,860.35 21,649,272.48 (1)1,210,587.87 1,210,587.87
=======================================================================
Certificate Cert. TOTAL
Class Class DISTRIBUTION
---------------------------------
A-1 A-1 25,747,399.14
A-1 Carryover Interest
A-1 Writedown Interest
A-2 A-2 2,694,463.75
A-2 Carryover Interest
A-2 Writedown Interest
A-3 A-3 1,802,991.63
A-3 Carryover Interest
A-3 Writedown Interest
A-4 A-4 945,647.12
A-4 Carryover Interest
A-4 Writedown Interest
A-5 A-5 3,978,776.56
A-5 Carryover Interest
A-5 Writedown Interest
M M 1,085,398.93
M Carryover Interest
M Writedown Interest
B-1 B-1 1,609,955.60
B-1 Carryover Interest
B-1 Writedown Interest
B-2 B-2 698,744.75
B-2 Carryover Interest
B-2 Writedown Interest
Limited Guarantee Limited Guarantee 0.00
X X 4,676,273.53
R R 0.00
Service Fee 2,219,662.02
--------------
45,459,313.03 (1)
==============
(1) Pursuant to the applicable pooling and servicing agreement, $2,219,662.02 of
the amounts available for distribution on distribution dates during the fiscal
year were used to pay servicing fees due the servicer. Consequently, the total
amount distributed on the certificates during the fiscal year was $43,239,651.01