World Omni Auto Receivables Trust 2021-B

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:37

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2021-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 01/31/24 296,484,576.96 21,505
Yield Supplement Overcollateralization Amount 01/31/24 5,377,788.10 0
Receivables Balance 01/31/24 301,862,365.06 21,505
Principal Payments 13,707,157.20 302
Defaulted Receivables 390,736.53 20
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 4,950,700.54 0
Pool Balance at 02/29/24 282,813,770.79 21,183
Pool Statistics $ Amount # of Accounts
Pool Factor 26.09 %
Prepayment ABS Speed 1.04 %
Aggregate Starting Principal Balance 1,102,919,763.19 38,162
Delinquent Receivables:
Past Due 31-60 days 4,260,455.97 226
Past Due 61-90 days 1,604,682.19 79
Past Due 91-120 days 423,938.21 23
Past Due 121+ days 0.00 0
Total 6,289,076.37 328
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.19 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.70 %
Delinquency Trigger Occurred NO
Recoveries 386,331.60
Aggregate Net Losses/(Gains) - February 2024 4,404.93
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.02 %
Prior Net Losses/(Gains) Ratio 0.04 %
Second Prior Net Losses/(Gains) Ratio 0.35 %
Third Prior Net Losses/(Gains) Ratio 0.21 %
Four Month Average 0.16 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.37 %
Overcollateralization Target Amount 5,319,305.21
Actual Overcollateralization 5,319,305.21
Weighted Average Contract Rate 3.96 %
Weighted Average Contract Rate, Yield Adjusted 5.48 %
Weighted Average Remaining Term 31.22
Flow of Funds $ Amount
Collections 15,083,081.00
Investment Earnings on Cash Accounts 13,341.91
Servicing Fee (251,551.97 )
Transfer to Collection Account -
Available Funds 14,844,870.94
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 106,896.10
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 27,664.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 17,157.00
(7) Noteholders' Third Priority Principal Distributable Amount 8,351,500.96
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,319,305.21
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 1,022,347.67
Total Distributions of Available Funds 14,844,870.94
Servicing Fee 251,551.97
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,013,320,000.00
Original Class B 31,920,000.00
Original Class C 15,960,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 291,165,271.75
Principal Paid 13,670,806.17
Note Balance @ 03/15/24 277,494,465.58
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-2
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 @ 02/15/24 146,635,271.75
Principal Paid 13,670,806.17
Note Balance @ 03/15/24 132,964,465.58
Note Factor @ 03/15/24 36.1237953 %
Class A-4
Note Balance @ 02/15/24 96,650,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 96,650,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 31,920,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 31,920,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 15,960,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 15,960,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 151,717.10
Total Principal Paid 13,670,806.17
Total Paid 13,822,523.27
Class A-1
Coupon 0.11025 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.20000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.42000 %
Interest Paid 51,322.35
Principal Paid 13,670,806.17
Total Paid to A-3 Holders 13,722,128.52
Class A-4
Coupon 0.69000 %
Interest Paid 55,573.75
Principal Paid 0.00
Total Paid to A-4 Holders 55,573.75
Class B
Coupon 1.04000 %
Interest Paid 27,664.00
Principal Paid 0.00
Total Paid to B Holders 27,664.00
Class C
Coupon 1.29000 %
Interest Paid 17,157.00
Principal Paid 0.00
Total Paid to C Holders 17,157.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1429675
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 12.8824031
Total Distribution Amount 13.0253706
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 0.1394326
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 37.1408557
Total A-3 Distribution Amount 37.2802883
A-4 Interest Distribution Amount 0.5750000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5750000
B Interest Distribution Amount 0.8666667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.8666667
C Interest Distribution Amount 1.0750000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.0750000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 610.90
Noteholders' Principal Distributable Amount 389.10
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 2,659,652.60
Investment Earnings 11,024.62
Investment Earnings Paid (11,024.62 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 2,659,652.60
Change -
Required Reserve Amount 2,659,652.60
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,838,536.50 $ 1,924,793.20 $ 2,513,062.69
Number of Extensions 98 103 133
Ratio of extensions to Beginning of Period Receivables Balance 0.61 % 0.61 % 0.76 %