Oakwood Mortgage Investors, Inc. 1998-A
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 1998-A 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 Servicing
Balance Principal Principal Principal Repurchased Balance Interest Fee
- ----------------------------------------------------------------------------------------------------------------------------------
197,901,846.02 (2,120,373.85) (10,855,816.27) (2,256,232.02) 0.00 182,669,423.88 13,900,651.56 1,272,833.51
==================================================================================================================================
- -------------------------------------------------------------------------------------
Scheduled Amount
Pass Thru Liquidation Reserve Available for Limited Total
Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -------------------------------------------------------------------------------------
12,627,818.05 1,636,742.80 0.00 28,513,584.48 0.00 28,513,584.48
=====================================================================================
Certificate Account
- -------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- -------------------------------------------------------------------------------------------
0.00 14,886,761.64 11,759,115.29 (25,484,866.79) 31,318.18 1,192,328.32
===========================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------
0.00 4,591,320.52 5,822,003.81 1,230,683.29
==========================================================
Oakwood Mortgage Investors, Inc. 1998-A
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Aggregate Repo
Repo Properties Brought Properites in
Gross Repossessions Current by Borrower Net Current Repos Trust at Month-End
# Principal Balance # Principal Balance # Principal Balance # Principal Balance
------------------------------------------------------------------------------------------------------
Feb-98 0 0.00 0 0.00 0 0.00 0 0.00
Mar-98 7 265,414.39 0 0.00 7 265,414.39 7 265,414.39
Apr-98 21 638,391.01 0 0.00 16 404,456.99 23 669,871.38
May-98 33 947,601.11 0 0.00 17 480,738.55 40 1,150,609.93
Jun-98 62 1,955,382.19 0 0.00 36 1,166,320.51 76 2,316,930.44
Jul-98 73 2,308,178.43 0 0.00 29 902,350.79 105 3,219,281.23
Aug-98 93 3,064,776.04 0 0.00 39 1,280,774.45 144 4,500,055.68
Sep-98 105 3,502,966.82 0 0.00 41 1,259,089.33 185 5,759,145.01
------------------------------------------------------------------------------------------------------
Total of month
end balance 394 12,682,709.99 0 0.00 185 5,759,145.01 580 17,881,308.06
======================================================================================================
Average month
end balance 49 1,585,338.75 0 0.00 23 719,893.13 73 2,235,163.51
======================================================================================================
Oakwood Mortgage Investors, Inc. 1998-A
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Delinquency Analysis
31 to 59 days 60 to 89 days 90 days and Over Total Delinq.
No. of Principal Principal Principal Principal
Loans Balance # Balance # Balance # Balance
---------------------------------------------------------------------------------------
Feb-98 44 1,472,282.89 1 41,260.00 0 0.00 45 1,513,542.89
Mar-98 58 2,025,807.32 12 381,511.02 0 0.00 70 2,407,318.34
Apr-98 114 3,625,832.68 28 1,024,826.81 8 246,396.38 150 4,897,055.87
May-98 138 4,441,124.21 70 2,272,933.06 25 851,433.25 233 7,565,490.52
Jun-98 155 5,450,497.54 61 1,949,748.90 63 2,131,151.99 279 9,531,398.43
Jul-98 156 5,258,219.81 67 2,389,154.73 93 3,188,385.83 316 10,835,760.37
Aug-98 203 6,617,104.88 67 2,253,829.54 126 4,495,790.42 396 13,366,724.84
Sep-98 170 5,977,742.08 85 2,720,135.45 141 5,064,946.89 396 13,762,824.42
---------------------------------------------------------------------------------------
Total of month
end balance 1,038 34,868,611.41 391 13,033,399.51 456 15,978,104.76 1,885 63,880,115.68
=======================================================================================
Average month
end balance 130 4,358,576.43 49 1,629,174.94 57 1,997,263.10 236 7,985,014.46
=======================================================================================
Oakwood Mortgage Investors, Inc. 1998-A
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
REPOSSESSION LIQUIDATION REPORT
See Monthly Investor Report for Detail
Liquidated Net
Prepayment Principal Sales Insur. Total Repossession Liquidation Unrecov.
Period Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
- -----------------------------------------------------------------------------------------------------------------------
Feb-98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Mar-98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Apr-98 31,195.93 29,400.00 2,030.84 31,430.84 9,820.00 21,610.84 1,179.07
May-98 170,359.96 160,762.00 10,790.81 171,552.81 28,470.00 143,082.81 8,164.58
Jun-98 155,613.47 142,600.00 6,885.37 149,485.37 30,670.00 118,815.37 10,961.25
Jul-98 543,240.11 491,258.01 28,433.21 519,691.22 87,180.00 432,511.22 38,245.08
Aug-98 516,667.83 459,150.00 23,756.97 482,906.97 87,080.00 395,826.97 40,173.03
Sep-98 839,154.72 811,020.00 28,430.49 839,450.49 157,030.00 682,420.49 66,486.74
===========================================================================================================
Total 2,256,232.02 2,094,190.01 100,327.69 2,194,517.70 400,250.00 1,794,267.70 165,209.75
===========================================================================================================
Net Current
Prepayment FHA Insurance Pass Thru Period Net Cumulative
Period Coverage Proceeds Gain/(Loss) Gain/(Loss)
- ---------------------------------------------------------------------------
Feb-98 0.00 0.00 0.00
Mar-98 0.00 0.00 0.00
Apr-98 0.00 20,431.77 (10,764.16)
May-98 0.00 134,918.23 (35,441.73)
Jun-98 0.00 107,854.12 (47,759.35)
Jul-98 0.00 394,266.14 (148,973.97)
Aug-98 0.00 355,653.94 (161,013.89)
Sep-98 7,684.85 623,618.60 (215,536.12)
===============================================================
Total 7,684.85 1,636,742.80 (619,489.22) (619,489.22)
===============================================================
Oakwood Mortgage Investors, Inc. 1998-A
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 Writedown
Class Balances Balances Principal Distribution Distribution Principal Amounts
- ---------------------------------------------------------------------------------------------------------------------------------
A-1 35,000,000.00 35,000,000.00 0.00 15,232,422.14 989,509.21 0.00 0.00
A-1 Outstanding Writedown 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
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
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
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
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
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
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
Excess Asset Principal Balance 0.00 0.00 0.00 0.00 (989,509.21) (989,509.21) 0.00
--------------------------- ---------------------------------------------------------
197,901,846.00 0.00 15,232,422.14 0.00 (989,509.21) 0.00
=========================== =========================================================
Ending Principal Paid
Cert. Certificate Pool Per $1,000
Class Balances Factor Denomination
- ------------------------------------------------------------------------
A-1 18,778,068.65 53.65162% 435.21
A-1 Outstanding Writedown 0.00 0.00 0.00
A-2 13,950,000.00 100.00000% 0.00
A-2 Outstanding Writedown 0.00 0.00 0.00
A-3 25,200,000.00 100.00000% 0.00
A-3 Outstanding Writedown 0.00 0.00 0.00
A-4 33,450,000.00 100.00000% 0.00
A-4 Outstanding Writedown 0.00 0.00 0.00
A-5 53,195,000.00 100.00000% 0.00
A-5 Outstanding Writedown 0.00 0.00 0.00
M 15,337,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00
B-1 14,843,000.00 100.00000% 0.00
B-1 Outstanding Writedown 0.00 0.00 0.00
B-2 6,926,846.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00
Excess Asset Principal Balance 989,509.21
------------------------------
182,669,423.86 7.54
==============================
(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. 1998-A
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
CERTIFICATE INTEREST ANALYSIS
Interest Paid
Certificate Remittance Beginning Current Total Interest Ending Per $1,000 Cert.
Class Rate Balance Accrual Paid Shortfall Balance Denomination Class
---------------------------------------------------------------------------------------------------------
A-1 6.20000% 0.00 1,124,692.88 1,124,692.88 0.00 0.00 32.13 A-1
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% 0.00 567,300.00 567,300.00 0.00 0.00 40.67 A-2
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 1,016,400.00 1,016,400.00 0.00 0.00 40.33 A-3
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 1,382,600.00 1,382,600.00 0.00 0.00 41.33 A-4
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 2,376,043.36 2,376,043.36 0.00 0.00 44.67 A-5
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% 0.00 697,833.52 697,833.52 0.00 0.00 45.50 M
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% 0.00 742,150.00 742,150.00 0.00 0.00 50.00 B-1
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% 0.00 403,373.36 403,373.36 0.00 0.00 58.23 B-2
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 0.00 4,317,424.93 2,708,426.50 1,608,998.43 1,608,998.43 X
R 0.00 0.00 0.00 0.00 0.00 R
Service Fee 0.00 1,272,833.51 1,272,833.51 0.00 0.00
-----------------------------------------------------------------------
0.00 13,900,651.56 12,291,653.13 (1) 1,608,998.43 1,608,998.43
=======================================================================
Certificate TOTAL
Class DISTRIBUTION
----------------
A-1 17,346,624.23
A-1 Carryover Interest
A-1 Writedown Interest
A-2 567,300.00
A-2 Carryover Interest
A-2 Writedown Interest
A-3 1,016,400.00
A-3 Carryover Interest
A-3 Writedown Interest
A-4 1,382,600.00
A-4 Carryover Interest
A-4 Writedown Interest
A-5 2,376,043.36
A-5 Carryover Interest
A-5 Writedown Interest
M 697,833.52
M Carryover Interest
M Writedown Interest
B-1 742,150.00
B-1 Carryover Interest
B-1 Writedown Interest
B-2 403,373.36
B-2 Carryover Interest
B-2 Writedown Interest
X 2,708,426.50
R 0.00
Service Fee 1,272,833.51
--------------
28,513,584.48 (1)
==============
(1) Pursuant to the applicable pooling and servicing agreement, $1,272,833.51 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
$24,540,750.97.