World Omni Auto Receivables Trust 2020-B

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:22

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2020-B
Monthly Servicer Certificate
February 29, 2024
Dates Covered
Collections Period 02/01/24 - 02/29/24
Interest Accrual Period 02/15/24 - 03/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 03/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 01/31/24 110,841,911.40 12,985
Yield Supplement Overcollateralization Amount 01/31/24 1,792,368.39 0
Receivables Balance 01/31/24 112,634,279.79 12,985
Principal Payments 7,670,388.07 260
Defaulted Receivables 80,888.91 7
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 1,589,345.71 0
Pool Balance at 02/29/24 103,293,657.10 12,718
Pool Statistics $ Amount # of Accounts
Pool Factor 11.71 %
Prepayment ABS Speed 1.06 %
Aggregate Starting Principal Balance 895,761,839.35 38,913
Delinquent Receivables:
Past Due 31-60 days 1,128,772.15 91
Past Due 61-90 days 337,029.50 25
Past Due 91-120 days 62,892.08 5
Past Due 121+ days 0.00 0
Total 1,528,693.73 121
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.46 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.38 %
Delinquency Trigger Occurred NO
Recoveries 51,879.01
Aggregate Net Losses/(Gains) - February 2024 29,009.90
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.31 %
Prior Net Losses/(Gains) Ratio 0.19 %
Second Prior Net Losses/(Gains) Ratio 0.44 %
Third Prior Net Losses/(Gains) Ratio 0.12 %
Four Month Average 0.27 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.23 %
Overcollateralization Target Amount 4,249,049.30
Actual Overcollateralization 4,249,049.30
Weighted Average Contract Rate 3.93 %
Weighted Average Contract Rate, Yield Adjusted 5.88 %
Weighted Average Remaining Term 20.33
Flow of Funds $ Amount
Collections 8,088,220.55
Investment Earnings on Cash Accounts 36,630.26
Servicing Fee (93,861.90 )
Transfer to Collection Account -
Available Funds 8,030,988.91
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 46,700.96
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 25,925.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 21,781.25
(7) Noteholders' Third Priority Principal Distributable Amount 3,299,205.00
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 4,249,049.30
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 388,327.40
Total Distributions of Available Funds 8,030,988.91
Servicing Fee 93,861.90
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 809,430,000.00
Original Class B 25,500,000.00
Original Class C 12,750,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 106,592,862.10
Principal Paid 7,548,254.30
Note Balance @ 03/15/24 99,044,607.80
Class A-1
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-2a
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-2b
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-3
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-4
Note Balance @ 02/15/24 68,342,862.10
Principal Paid 7,548,254.30
Note Balance @ 03/15/24 60,794,607.80
Note Factor @ 03/15/24 79.1287359 %
Class B
Note Balance @ 02/15/24 25,500,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 25,500,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 12,750,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 12,750,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 94,407.21
Total Principal Paid 7,548,254.30
Total Paid 7,642,661.51
Class A-1
Coupon 0.26763 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 0.55000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2a Holders 0.00
Class A-2b
One-Month Libor N/A
Coupon 0.25000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2b Holders 0.00
Class A-3
Coupon 0.63000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-3 Holders 0.00
Class A-4
Coupon 0.82000 %
Interest Paid 46,700.96
Principal Paid 7,548,254.30
Total Paid to A-4 Holders 7,594,955.26
Class B
Coupon 1.22000 %
Interest Paid 25,925.00
Principal Paid 0.00
Total Paid to B Holders 25,925.00
Class C
Coupon 2.05000 %
Interest Paid 21,781.25
Principal Paid 0.00
Total Paid to C Holders 21,781.25
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1113713
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 8.9046035
Total Distribution Amount 9.0159748
A-1 Interest Distribution Amount 0.0000000
A-1 Interest Carryover Shortfall 0.0000000
A-1 Principal Distribution Amount 0.0000000
Total A-1 Distribution Amount 0.0000000
A-2a Interest Distribution Amount 0.0000000
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 0.0000000
Total A-2a Distribution Amount 0.0000000
A-2b Interest Distribution Amount 0.0000000
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 0.0000000
Total A-2b Distribution Amount 0.0000000
A-3 Interest Distribution Amount 0.0000000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 0.0000000
A-4 Interest Distribution Amount 0.6078480
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 98.2461838
Total A-4 Distribution Amount 98.8540318
B Interest Distribution Amount 1.0166667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 1.0166667
C Interest Distribution Amount 1.7083333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.7083333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 437.08
Noteholders' Principal Distributable Amount 562.92
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 8,498,098.59
Investment Earnings 35,421.35
Investment Earnings Paid (35,421.35 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 8,498,098.59
Change -
Required Reserve Amount 8,498,098.59
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 376,972.18 $ 442,708.22 $ 589,727.94
Number of Extensions 32 33 43
Ratio of extensions to Beginning of Period Receivables Balance 0.33 % 0.37 % 0.46 %