Oakwood Mortgage Investors, Inc. 1998-B
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-B 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
- ---------------------------------------------------------------------------------------------------------------------------
299,997,122.09 (2,054,343.30) (16,328,695.18) (741,766.80) 0.00 280,872,316.81 12,973,394.40 1,215,027.77
===========================================================================================================================
- ------------------------------------------------------------------------------------
Scheduled Amount
Pass Thru Liquidation Reserve Available for Limited Total
Interest Proceeds Fund Draw Distribution Guarantee Distribution
- -------------------------------------------------------------------------------------
11,758,366.63 544,631.61 0.00 31,901,064.49 0.00 31,901,064.49
=====================================================================================
Certificate Account
- ---------------------------------------------------------------------------------------------
Beginning Deposits Investment Ending
Balance Principal Interest Distributions Interest Balance
- ---------------------------------------------------------------------------------------------
0.00 18,629,757.13 9,922,360.93 (26,269,599.05) 42,253.18 2,324,772.19
=============================================================================================
P&I Advances at Distribution Date
- ----------------------------------------------------------
Beginning Recovered Current Ending
Balance Advances Advances Balance
- ----------------------------------------------------------
0.00 4,197,233.77 5,918,989.30 1,721,755.53
==========================================================
Oakwood Mortgage Investors, Inc. 1998-B
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
Repo Properties Brought Aggregate Repo Properties in
Gross Repossessions Current by Borrower Net Current Repos Trust at Month-End
# Principal Balance # Principal Balance # Principal Balance # Principal Balance
----------------------------------------------------------------------------------------------------------------
May-98 0 0.00 0 0.00 0 0.00 0 0.00
Jun-98 17 415,542.09 0 0.00 17 415,542.09 17 415,542.09
Jul-98 47 1,264,956.93 0 0.00 30 849,414.84 47 1,264,956.93
Aug-98 65 1,858,162.47 -1 (27,819.02) 30 921,258.26 76 2,158,396.17
Sep-98 106 3,151,510.15 0 0.00 59 1,744,839.86 135 3,903,236.03
-------------------------------------------------------------------------------------------------------------------
Total of month
end balance 235 6,690,171.64 -1 (27,819.02) 136 3,931,055.05 275 7,742,131.22
===================================================================================================================
Average month
end balance 47 1,338,034.33 0 (5,563.80) 27 786,211.01 55 1,548,426.24
===================================================================================================================
Oakwood Mortgage Investors, Inc. 1998-B
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
---------------------------------------------------------------------------------------
May-98 67 1,914,522.21 0 0.00 0 0.00 67 1,914,522.21
Jun-98 171 5,133,955.42 27 766,145.43 0 0.00 198 5,900,100.85
Jul-98 171 5,368,472.34 91 2,632,392.66 23 680,640.05 285 8,681,505.05
Aug-98 269 8,251,450.50 87 2,706,812.83 83 2,396,546.95 439 13,354,810.28
Sep-98 259 8,184,788.08 111 3,415,420.11 120 3,571,821.14 490 15,172,029.33
---------------------------------------------------------------------------------------
Total of month
end balance 937 28,853,188.55 316 9,520,771.03 226 6,649,008.14 1,479 45,022,967.72
=======================================================================================
Average month
end balance 187 5,770,637.71 63 1,904,154.21 45 1,329,801.63 296 9,004,593.54
=======================================================================================
Oakwood Mortgage Investors, Inc. 1998-B
Oakwood Acceptance Corp. - Servicer
Fiscal Year Ended Series Report
Reporting: Fiscal Year 1998
REPOSSESSION LIQUIDATION REPORT
See Monthly Investor Report for Detail
Net
Prepayment Liquidated Principal Sales Insur. Total Repossession Liquidation Unrecov.
Period Balance Proceeds Refunds Proceeds Expenses Proceeds Advances
- ----------------------------------------------------------------------------------------------------------------------------
May-98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jun-98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Jul-98 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Aug-98 295,955.65 266,050.00 11,350.86 277,400.86 44,590.00 232,810.86 15,236.98
Sep-98 445,811.15 425,235.00 22,409.70 447,644.70 91,590.00 356,054.70 28,996.97
===============================================================================================================
Total 741,766.80 691,285.00 33,760.56 725,045.56 136,180.00 588,865.56 44,233.95
===============================================================================================================
Net Current
Prepayment FHA Insurance Pass Thru Period Net Cumulative
Period Coverage Proceeds Gain/(Loss) Gain/(Loss)
- -------------------------------------------------------------------------
May-98 0.00 0.00 0.00
Jun-98 0.00 0.00 0.00
Jul-98 0.00 0.00 0.00
Aug-98 0.00 217,573.88 (78,381.77)
Sep-98 0.00 327,057.73 (118,753.42)
=============================================================
Total 0.00 544,631.61 (197,135.19) (197,135.19)
=============================================================
Oakwood Mortgage Investors, Inc. 1998-B
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 62,900,000.00 62,900,000.00 0.00 19,124,805.28 0.00 19,124,805.28
A-1 Outstanding Writedown 0.00 0.00
A-2 57,600,000.00 57,600,000.00 0.00 0.00 0.00 0.00
A-2 Outstanding Writedown 0.00 0.00
A-3 33,700,000.00 33,700,000.00 0.00 0.00 0.00 0.00
A-3 Outstanding Writedown 0.00 0.00
A-4 18,700,000.00 18,700,000.00 0.00 0.00 0.00 0.00
A-4 Outstanding Writedown 0.00 0.00
A-5 64,850,000.00 64,850,000.00 0.00 0.00 0.00 0.00
A-5 Outstanding Writedown 0.00 0.00
M-1 23,250,000.00 23,250,000.00 0.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00
M-2 12,750,000.00 12,750,000.00 0.00 0.00 0.00 0.00
M Outstanding Writedown 0.00 0.00
B-1 11,250,000.00 11,250,000.00 0.00 0.00 0.00 0.00
B-1 Outstanding Writedown 0.00 0.00
B-2 15,000,000.00 15,000,000.00 0.00 0.00 0.00 0.00
B-2 Outstanding Writedown 0.00 0.00
--------------------------------------------------------------------------------------------------
300,000,000.00 300,000,000.00 0.00 19,124,805.28 0.00 19,124,805.28
==================================================================================================
Prefunding Ending Principal Paid
Cert. Shortfall Writedown Certificate Pool Per $1,000
Class Distribution (2) Amounts Balances Factor Denomination
- --------------------------------------------------------------------------------------------------------------
A-1 2,877.91 0.00 43,772,316.81 69.59033% 304.05
A-1 Outstanding Writedown 0.00 0.00 0.00 0.00
A-2 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 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 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 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 23,250,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
M-2 0.00 0.00 12,750,000.00 100.00000% 0.00
M Outstanding Writedown 0.00 0.00 0.00 0.00
B-1 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 15,000,000.00 100.00000% 0.00
B-2 Outstanding Writedown 0.00 0.00 0.00 0.00
-----------------------------------------------
2,877.91 0.00 280,872,316.81
===============================================
(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.
(2) One time distribution from Prefunding Account due to prefunding collateral
shortfall.
Oakwood Mortgage Investors, Inc. 1998-B
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 VARIOUS 0.00 1,117,762.58 1,117,762.58 0.00 0.00 17.77 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 6.15000% 0.00 1,476,000.00 1,476,000.00 0.00 0.00 25.63 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 6.20000% 0.00 870,583.35 870,583.35 0.00 0.00 25.83 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 6.35000% 0.00 494,770.85 494,770.85 0.00 0.00 26.46 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 6.67500% 0.00 1,803,640.65 1,803,640.65 0.00 0.00 27.81 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-1 6.80000% 0.00 658,750.00 658,750.00 0.00 0.00 51.67 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
M-2 7.02500% 0.00 373,203.15 373,203.15 0.00 0.00 #DIV/0! 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 7.45000% 0.00 349,218.75 349,218.75 0.00 0.00 31.04 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 7.75000% 0.00 484,375.00 484,375.00 0.00 0.00 32.29 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 4,130,062.30 3,932,927.11 197,135.19 197,135.19 X
R 0.00 0.00 0.00 0.00 0.00 R
Service Fee 0.00 1,215,027.77 1,215,027.77 0.00 0.00
-----------------------------------------------------------------------
12,973,394.40 12,776,259.21 # (1) 197,135.19 #DIV/0!
========================================================================
Certificate TOTAL
Class DISTRIBUTION
-----------------
A-1 20,242,567.86
A-1 Carryover Interest
A-1 Writedown Interest
A-2 1,476,000.00
A-2 Carryover Interest
A-2 Writedown Interest
A-3 870,583.35
A-3 Carryover Interest
A-3 Writedown Interest
A-4 494,770.85
A-4 Carryover Interest
A-4 Writedown Interest
A-5 1,803,640.65
A-5 Carryover Interest
A-5 Writedown Interest
M-1 658,750.00
M Carryover Interest
M Writedown Interest
M-2 373,203.15
M Carryover Interest
M Writedown Interest
B-1 349,218.75
B-1 Carryover Interest
B-1 Writedown Interest
B-2 484,375.00
B-2 Carryover Interest
B-2 Writedown Interest
X 3,932,927.11
R 0.00
Service Fee 1,215,027.77
-------------
31,901,064.49 (1)
=============
(1) Pursuant to the applicable pooling and servicing agreement, $1,215,027.77 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
$30,686,036.72.