04/29/2024 | Press release | Distributed by Public on 04/29/2024 05:02
World Omni Auto Receivables Trust 2021-C
Monthly Servicer Certificate
March 31, 2024
Dates Covered | ||||||||||||
Collections Period | 03/01/24 - 03/31/24 | |||||||||||
Interest Accrual Period | 03/15/24 - 04/14/24 | |||||||||||
30/360 Days | 30 | |||||||||||
Actual/360 Days | 31 | |||||||||||
Distribution Date | 04/15/24 | |||||||||||
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 02/29/24 | 334,188,600.58 | 22,662 | ||||||||||
Yield Supplement Overcollateralization Amount 02/29/24 | 4,815,295.51 | 0 | ||||||||||
Receivables Balance 02/29/24 | 339,003,896.09 | 22,662 | ||||||||||
Principal Payments | 15,380,432.47 | 380 | ||||||||||
Defaulted Receivables | 269,798.99 | 16 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 03/31/24 | 4,423,095.88 | 0 | ||||||||||
Pool Balance at 03/31/24 | 318,930,568.75 | 22,266 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 26.88 | % | ||||||||||
Prepayment ABS Speed | 1.08 | % | ||||||||||
Aggregate Starting Principal Balance | 1,202,898,752.29 | 49,569 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 5,699,812.95 | 289 | ||||||||||
Past Due 61-90 days | 1,543,562.71 | 71 | ||||||||||
Past Due 91-120 days | 233,807.36 | 11 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 7,477,183.02 | 371 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 2.31 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.55 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 350,944.79 | |||||||||||
Aggregate Net Losses/(Gains) - March 2024 | (81,145.80 | ) | ||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | -0.29 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.49 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.36 | % | ||||||||||
Third Prior Net Losses Ratio/(Gains) | 0.49 | % | ||||||||||
Four Month Average | 0.26 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.44 | % | ||||||||||
Overcollateralization Target Amount | 5,849,148.06 | |||||||||||
Actual Overcollateralization | 5,849,148.06 | |||||||||||
Weighted Average Contract Rate | 3.93 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 5.15 | % | ||||||||||
Weighted Average Remaining Term | 33.24 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 16,779,968.62 | |||||||||||
Investment Earnings on Cash Accounts | 15,389.01 | |||||||||||
Servicing Fee | (282,503.25 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 16,512,854.38 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 117,794.80 | |||||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||||
(4) Class B Interest | 24,563.00 | |||||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | - | |||||||||||
(6) Class C Interest | 15,502.50 | |||||||||||
(7) Noteholders' Third Priority Principal Distributable Amount | 9,408,883.77 | |||||||||||
(8) Required Reserve Account | - | |||||||||||
(9) Noteholders' Principal Distributable Amount | 5,849,148.06 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||||
(11) Distribution to Certificateholders | 1,096,962.25 | |||||||||||
Total Distributions of Available Funds | 16,512,854.38 | |||||||||||
Servicing Fee | 282,503.25 | |||||||||||
Unpaid Servicing Fee | - | |||||||||||
Change in amount of the unpaid servicing fee from the prior period | - |
Note Balances & Note Factors | $ Amount | |||||||||||
Original Class A | 1,114,250,000.00 | |||||||||||
Original Class B | 35,090,000.00 | |||||||||||
Original Class C | 17,550,000.00 | |||||||||||
Total Class A, B, & C | ||||||||||||
Note Balance @ 03/15/24 | 328,339,452.52 | |||||||||||
Principal Paid | 15,258,031.83 | |||||||||||
Note Balance @ 04/15/24 | 313,081,420.69 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 03/15/24 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 0.00 | |||||||||||
Note Factor @ 04/15/24 | 0.0000000 | % | ||||||||||
Class A-2 | ||||||||||||
Note Balance @ 03/15/24 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 0.00 | |||||||||||
Note Factor @ 04/15/24 | 0.0000000 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 03/15/24 | 175,469,452.52 | |||||||||||
Principal Paid | 15,258,031.83 | |||||||||||
Note Balance @ 04/15/24 | 160,211,420.69 | |||||||||||
Note Factor @ 04/15/24 | 41.6122752 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 03/15/24 | 100,230,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 100,230,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 03/15/24 | 35,090,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 35,090,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 03/15/24 | 17,550,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 17,550,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 157,860.30 | |||||||||||
Total Principal Paid | 15,258,031.83 | |||||||||||
Total Paid | 15,415,892.13 | |||||||||||
Class A-1 | ||||||||||||
Coupon | 0.11273 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-1 Holders | 0.00 | |||||||||||
Class A-2 | ||||||||||||
Coupon | 0.22000 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2 Holders | 0.00 | |||||||||||
Class A-3 | ||||||||||||
Coupon | 0.44000 | % | ||||||||||
Interest Paid | 64,338.80 | |||||||||||
Principal Paid | 15,258,031.83 | |||||||||||
Total Paid to A-3 Holders | 15,322,370.63 | |||||||||||
Class A-4 | ||||||||||||
Coupon | 0.64000 | % | ||||||||||
Interest Paid | 53,456.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-4 Holders | 53,456.00 | |||||||||||
Class B | ||||||||||||
Coupon | 0.84000 | % | ||||||||||
Interest Paid | 24,563.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to B Holders | 24,563.00 | |||||||||||
Class C | ||||||||||||
Coupon | 1.06000 | % | ||||||||||
Interest Paid | 15,502.50 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to C Holders | 15,502.50 |
Distribution per $1,000 of Notes | Total | |||||||||||
Total Interest Distribution Amount | 0.1352829 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 13.0758099 | |||||||||||
Total Distribution Amount | 13.2110928 | |||||||||||
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-2 Interest Distribution Amount | 0.0000000 | |||||||||||
A-2 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-2 Distribution Amount | 0.0000000 | |||||||||||
A-3 Interest Distribution Amount | 0.1671094 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 39.6302222 | |||||||||||
Total A-3 Distribution Amount | 39.7973316 | |||||||||||
A-4 Interest Distribution Amount | 0.5333333 | |||||||||||
A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-4 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-4 Distribution Amount | 0.5333333 | |||||||||||
B Interest Distribution Amount | 0.7000000 | |||||||||||
B Interest Carryover Shortfall | 0.0000000 | |||||||||||
B Principal Distribution Amount | 0.0000000 | |||||||||||
Total B Distribution Amount | 0.7000000 | |||||||||||
C Interest Distribution Amount | 0.8833333 | |||||||||||
C Interest Carryover Shortfall | 0.0000000 | |||||||||||
C Principal Distribution Amount | 0.0000000 | |||||||||||
Total C Distribution Amount | 0.8833333 | |||||||||||
Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 616.65 | |||||||||||
Noteholders' Principal Distributable Amount | 383.35 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 03/15/24 | 2,924,574.03 | |||||||||||
Investment Earnings | 12,961.14 | |||||||||||
Investment Earnings Paid | (12,961.14 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 04/15/24 | 2,924,574.03 | |||||||||||
Change | - | |||||||||||
Required Reserve Amount | 2,924,574.03 | |||||||||||
Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||||
Principal Balance of Receivables extended during the Collection Period | $ | 1,592,669.05 | $ | 1,825,496.69 | $ | 2,508,112.62 | ||||||
Number of Extensions | 80 | 90 | 125 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.47 | % | 0.51 | % | 0.67 | % |