<PAGE>

                                                                    EXHIBIT 99.1

                                                                     Page 1 of 3


                ORIGEN MANUFACTURED HOUSING CONTRACT TRUST 2004-B

                         STATEMENT TO CERTIFICATEHOLDERS

                                  MAY 16, 2005

                             DISTRIBUTION IN DOLLARS

<TABLE>
<CAPTION>
            ORIGINAL         BEGINNING                                                                            ENDING
              FACE           PRINCIPAL                                                  REALIZED   DEFERRED      PRINCIPAL
CLASS         VALUE           BALANCE        PRINCIPAL      INTEREST         TOTAL       LOSSES    INTEREST       BALANCE
-----    --------------   --------------   ------------   ------------   ------------   --------   --------   --------------
<S>      <C>              <C>              <C>            <C>            <C>            <C>        <C>        <C>
A1        49,000,000.00    35,013,180.28   2,196,022.61      83,739.86   2,279,762.47     0.00       0.00      32,817,157.67
A2        42,300,000.00    42,300,000.00           0.00     133,597.50     133,597.50     0.00       0.00      42,300,000.00
A3        16,100,000.00    16,100,000.00           0.00      63,729.17      63,729.17     0.00       0.00      16,100,000.00
A4        21,600,000.00    21,600,000.00           0.00      98,280.00      98,280.00     0.00       0.00      21,600,000.00
M1        19,000,000.00    19,000,000.00           0.00      90,725.00      90,725.00     0.00       0.00      19,000,000.00
M2        11,000,000.00    11,000,000.00           0.00      59,675.00      59,675.00     0.00       0.00      11,000,000.00
B1        10,000,000.00    10,000,000.00           0.00      62,500.00      62,500.00     0.00       0.00      10,000,000.00
B2         4,000,000.00     4,000,000.00           0.00      25,000.00      25,000.00     0.00       0.00       4,000,000.00
CERT               0.00             0.00           0.00     648,229.72     648,229.72     0.00       0.00               0.00
         --------------   --------------   ------------   ------------   ------------     ----       ----     --------------
TOTALS   173,000,000.00   159,013,180.28   2,196,022.61   1,265,476.25   3,461,498.86     0.00       0.00     156,817,157.67
         ==============   ==============   ============   ============   ============     ====       ====     ==============
</TABLE>

                  FACTOR INFORMATION PER $1000 OF ORIGINAL FACE

<TABLE>
<CAPTION>
                        BEGINNING                                                  ENDING
CLASS      CUSIP        PRINCIPAL      PRINCIPAL     INTEREST       TOTAL         PRINCIPAL
-----    ---------   --------------   -----------   ----------   -----------   --------------
<S>      <C>         <C>              <C>           <C>          <C>           <C>
A1       68619AAZ0     714.55469959   44.81678796   1.70897673   46.52576469     669.73791163
A2       68619ABA4   1,000.00000000    0.00000000   3.15833333    3.15833333   1,000.00000000
A3       68619ABB2   1,000.00000000    0.00000000   3.95833354    3.95833354   1,000.00000000
A4       68619ABC0   1,000.00000000    0.00000000   4.55000000    4.55000000   1,000.00000000
M1       68619ABD8   1,000.00000000    0.00000000   4.77500000    4.77500000   1,000.00000000
M2       68619ABE6   1,000.00000000    0.00000000   5.42500000    5.42500000   1,000.00000000
B1       68619ABF3   1,000.00000000    0.00000000   6.25000000    6.25000000   1,000.00000000
B2                   1,000.00000000    0.00000000   6.25000000    6.25000000   1,000.00000000
                     --------------   -----------   ----------   -----------   --------------
TOTALS                 919.15133110   12.69377231   7.31489162   20.00866393     906.45755879
                     ==============   ===========   ==========   ===========   ==============
</TABLE>

                               PASS-THROUGH RATES

<TABLE>
<CAPTION>
         CURRENT
        PASS-THRU
CLASS     RATE
-----   ---------
<S>     <C>
A1      2.870000%
A2      3.790000%
A3      4.750000%
A4      5.460000%
M1      5.730000%
M2      6.510000%
B1      7.500000%
B2      7.500000%
</TABLE>

           IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
                 PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:

                                   Janice Rose
             JPMorgan Chase Bank, N.A. - Structured Finance Services
                                600 Travis, 9 FL
                              Houston, Texas 77002
                    Tel: (713) 216-3068 / Fax: (713) 216-4880
                          Email: Janice.Rose@chase.com

(JP MORGAN LOGO)

                 COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED.

<PAGE>

                                                                     Page 2 of 3


                ORIGEN MANUFACTURED HOUSING CONTRACT TRUST 2004-B

                                  MAY 16, 2005

<TABLE>
<S>                     <C>                                                                  <C>
Section 7.05(a)(i)      Principal Payment Allocable to Holders                                 2,196,022.61

Section 7.05(a)(ii)     Interest Payment Allocable to Holders                                    617,246.53

Section 7.05(a)(iii)    Servicing Fee                                                            194,814.86
                        Indenture Trustee Fee                                                      2,808.52
                        Indenture Trustee Expenses                                                 1,120.20
                        Owner Trustee Fee                                                              0.00
                        Monthly Backup Servicing Fee                                               5,000.00

Section 7.05(a)(iv)     Beginning Balance of Contracts                                       187,022,267.13
                        Ending Balance of Contracts                                          184,826,244.52

Section 7.05(a)(v)      Number of Contracts                                                           4,200
                        Weighted Average Remaining Term                                                 234
                        Weighted Average Contract Rate:                                               9.628%

Section 7.05(a)(vi)     Number and Aggregate Principal Amounts of Contracts in Delinquency

                                                   Group Totals

                               Period       Number   Principal Balance   Percentage
                               ------       ------   -----------------   ----------
                               30-59 days     21          683,304.88        0.37%
                               60-89 days     15          578,324.73        0.31%
                               90+days        27        1,129,089.58        0.61%
                               Total          63        2,390,719.19        1.29%

                        Number and Aggregate Principal Amounts of Contracts Repossessed
                        During Reporting Period

                                                   Group Totals

                                      Number   Principal Balance   Percentage
                                      ------   -----------------   ----------
                                         9         397,607.34         0.22%

                        Number and Aggregate Principal Amounts of Contracts in Inventory

                                                   Group Totals

                                      Number   Principal Balance   Percentage
                                      ------   -----------------   ----------
                                        17         677,702.65         0.37%

                        Number and Aggregate Principal Amounts of Contracts in Bankruptcy

                                                   Group Totals

                                      Number   Principal Balance   Percentage
                                      ------   -----------------   ----------
                                        43        1,892,602.16        1.02%

Section 7.05(a)(viii)   Principal Prepayments                                                  1,596,375.52

                        Liquidation Proceeds                                                      86,200.00

Section 7.05(a)(viii)   Realized Losses

                           Current Period                                                         80,230.60
</TABLE>

(JP MORGAN LOGO)

                 COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED.

<PAGE>

                                                                     Page 3 of 3


                ORIGEN MANUFACTURED HOUSING CONTRACT TRUST 2004-B

                                  MAY 16, 2005

<TABLE>
<S>                     <C>                                                 <C>
                           Cumulative                                          431,563.23

Section 7.05(a)(ix)     Adjusted Note Balances

                           Class M1                                         19,000,000.00
                           Class M2                                         11,000,000.00
                           Class B1                                         10,000,000.00
                           Class B2                                          4,000,000.00

Section 7.05(a)(x)      Interest Payment Amount

                           Interest Distribution - A-1                          83,739.86

                           Interest Distribution - A-2                         133,597.50

                           Interest Distribution - A-3                          63,729.17

                           Interest Distribution - A-4                          98,280.00
                           Available Funds Cap Carry-Forward Amount - A-4            0.00
                           Interest Reduction Amount - A-4                           0.00

                           Interest Distribution - M-1                          90,725.00
                           Available Funds Cap Carry-Forward Amount - M-1            0.00
                           Liquidation Loss Interest Amount - M-1                    0.00
                           Interest Reduction Amount - M-1                           0.00

                           Interest Distribution - M-2                          59,675.00
                           Available Funds Cap Carry-Forward Amount - M-2            0.00
                           Liquidation Loss Interest Amount - M-2                    0.00
                           Interest Reduction Amount - M-2                           0.00

                           Interest Distribution - B-1                          62,500.00
                           Available Funds Cap Carry-Forward Amount - B-1            0.00
                           Liquidation Loss Interest Amount - B-1                    0.00
                           Interest Reduction Amount - B-1                           0.00

                           Interest Distribution - B-2                          25,000.00
                           Available Funds Cap Carry-Forward Amount - B-2            0.00
                           Liquidation Loss Interest Amount - B-2                    0.00
                           Interest Reduction Amount - B-2                           0.00

Section 7.05(a)(xi)     Overcollateralization Target Amount                 28,009,086.85

Section 7.05(a)(xii)    Overcollateralization Amount                        28,009,086.85

Section 7.05(a)(xiv)    Trust Certificate Distribution                         648,229.72

Expense Paid to LLC
and DRS                                                                              0.00

Servicing Fee
Adjustment                                                                     -21,275.66

Miscellaneous
Servicing Expenses                                                                   0.00
</TABLE>

(JP MORGAN LOGO)

                 COPYRIGHT (C) 2001 J.P. MORGAN CHASE & CO. ALL RIGHTS RESERVED.