World Omni Auto Receivables Trust 2021-A

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:34

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2021-A
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 01/31/24 244,869,764.55 19,672
Yield Supplement Overcollateralization Amount 01/31/24 5,715,531.97 0
Receivables Balance 01/31/24 250,585,296.52 19,672
Principal Payments 12,471,216.32 275
Defaulted Receivables 318,758.59 17
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 5,230,254.60 0
Pool Balance at 02/29/24 232,565,067.01 19,380
Pool Statistics $ Amount # of Accounts
Pool Factor 20.54 %
Prepayment ABS Speed 1.00 %
Aggregate Starting Principal Balance 1,157,521,164.95 46,418
Delinquent Receivables:
Past Due 31-60 days 4,118,094.01 241
Past Due 61-90 days 1,352,683.96 76
Past Due 91-120 days 241,851.47 14
Past Due 121+ days 0.00 0
Total 5,712,629.44 331
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.40 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.67 %
Delinquency Trigger Occurred NO
Recoveries 247,885.74
Aggregate Net Losses/(Gains) - February 2024 70,872.85
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.34 %
Prior Net Losses/(Gains) Ratio 0.58 %
Second Prior Net Losses/(Gains) Ratio 0.20 %
Third Prior Net Losses/(Gains) Ratio 0.04 %
Four Month Average 0.29 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.34 %
Overcollateralization Target Amount 5,504,632.16
Actual Overcollateralization 5,504,632.16
Weighted Average Contract Rate 3.62 %
Weighted Average Contract Rate, Yield Adjusted 5.75 %
Weighted Average Remaining Term 27.71
Flow of Funds $ Amount
Collections 13,464,800.42
Investment Earnings on Cash Accounts 24,969.40
Servicing Fee (208,821.08 )
Transfer to Collection Account 0.00
Available Funds 13,280,948.74
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 62,456.78
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 17,616.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 12,252.33
(7) Noteholders' Third Priority Principal Distributable Amount 6,800,065.38
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,504,632.16
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 883,926.09
Total Distributions of Available Funds 13,280,948.74
Servicing Fee 208,821.08
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,048,620,000.00
Original Class B 33,030,000.00
Original Class C 16,520,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 239,365,132.39
Principal Paid 12,304,697.54
Note Balance @ 03/15/24 227,060,434.85
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 89,795,132.39
Principal Paid 12,304,697.54
Note Balance @ 03/15/24 77,490,434.85
Note Factor @ 03/15/24 19.8388210 %
Class A-4
Note Balance @ 02/15/24 100,020,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 100,020,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 33,030,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 33,030,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 16,520,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 16,520,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 92,325.11
Total Principal Paid 12,304,697.54
Total Paid 12,397,022.65
Class A-1
Coupon 0.13857 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.17000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.30000 %
Interest Paid 22,448.78
Principal Paid 12,304,697.54
Total Paid to A-3 Holders 12,327,146.32
Class A-4
Coupon 0.48000 %
Interest Paid 40,008.00
Principal Paid 0.00
Total Paid to A-4 Holders 40,008.00
Class B
Coupon 0.64000 %
Interest Paid 17,616.00
Principal Paid 0.00
Total Paid to B Holders 17,616.00
Class C
Coupon 0.89000 %
Interest Paid 12,252.33
Principal Paid 0.00
Total Paid to C Holders 12,252.33
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0840718
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 11.2047293
Total Distribution Amount 11.2888011
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 0.0574726
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 31.5020418
Total A-3 Distribution Amount 31.5595144
A-4 Interest Distribution Amount 0.4000000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.4000000
B Interest Distribution Amount 0.5333333
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.5333333
C Interest Distribution Amount 0.7416665
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 0.7416665
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 552.64
Noteholders' Principal Distributable Amount 447.36
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 5,504,632.16
Investment Earnings 22,944.13
Investment Earnings Paid (22,944.13 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 5,504,632.16
Change -
Required Reserve Amount 5,504,632.16
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,251,216.59 $ 1,770,322.56 $ 1,893,153.04
Number of Extensions 76 104 104
Ratio of extensions to Beginning of Period Receivables Balance 0.50 % 0.67 % 0.68 %