Hyundai Auto Receivables Trust 2021-B
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Monthly Servicing Report
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Collection Period
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April 2024
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Distribution Date
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05/15/24
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Transaction Month
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34
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30/360 Days
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30
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Actual/360 Days
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30
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I. ORIGINAL DEAL PARAMETERS
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Cut off Date:
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June 21, 2021
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Closing Date:
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July 28, 2021
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Dollars
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Units
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WAC
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WARM
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Original Pool Balance:
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$
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1,399,973,720.80
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58,939
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3.51
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%
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58.83
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Original Adj. Pool Balance:
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$
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1,372,280,085.73
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Amount
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% of Pool
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Note Rate
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Final Payment Date
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Class A-1 Notes
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Fixed
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$
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265,000,000.00
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18.929
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%
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0.13573
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%
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August 15, 2022
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Class A-2 Notes
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Fixed
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$
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437,000,000.00
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31.215
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%
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0.24000
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%
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May 15, 2024
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Class A-3 Notes
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Fixed
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$
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437,000,000.00
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31.215
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%
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0.38000
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%
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January 15, 2026
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Class A-4 Notes
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Fixed
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$
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133,100,000.00
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9.507
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%
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0.60000
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%
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February 16, 2027
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Class B Notes
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Fixed
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$
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24,700,000.00
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1.764
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%
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0.91000
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%
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February 16, 2027
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Class C Notes
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Fixed
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$
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41,170,000.00
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2.941
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%
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1.12000
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%
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February 15, 2028
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Total Securities
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$
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1,337,970,000.00
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95.571
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%
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Overcollateralization
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$
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34,310,085.73
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2.451
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%
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YSOA
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$
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27,693,635.07
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1.978
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%
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Total Original Pool Balance
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$
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1,399,973,720.80
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100.00
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%
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II. POOL BALANCE AND PORTFOLIO INFORMATION
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Beginning of Period
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Ending of Period
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Change
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Balance
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Note Factor
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Balance
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Note Factor
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Class A-1 Notes
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$
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-
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-
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$
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-
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-
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$
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-
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Class A-2 Notes
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$
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-
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-
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$
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-
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-
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$
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-
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Class A-3 Notes
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$
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117,771,890.40
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0.2695009
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$
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98,135,955.02
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0.2245674
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$
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19,635,935.38
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Class A-4 Notes
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$
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133,100,000.00
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1.0000000
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$
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133,100,000.00
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1.0000000
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$
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-
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Class B Notes
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$
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24,700,000.00
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1.0000000
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$
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24,700,000.00
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1.0000000
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$
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-
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Class C Notes
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$
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41,170,000.00
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1.0000000
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$
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41,170,000.00
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1.0000000
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$
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-
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Total Securities
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$
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316,741,890.40
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0.2367332
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$
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297,105,955.02
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0.2220573
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$
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19,635,935.38
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Weighted Avg. Coupon (WAC)
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3.44
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%
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3.44
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%
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Weighted Avg. Remaining Maturity (WARM)
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27.95
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27.10
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Pool Receivables Balance
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$
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362,951,239.86
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$
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342,926,983.60
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Remaining Number of Receivables
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32,553
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31,885
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Adjusted Pool Balance
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$
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357,910,292.97
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$
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338,274,357.59
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III. COLLECTIONS
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Principal:
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Principal Collections
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$
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19,563,900.57
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Repurchased Contract Proceeds Related to Principal
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$
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-
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Recoveries/Liquidation Proceeds
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$
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274,566.25
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Total Principal Collections
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$
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19,838,466.82
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Interest:
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Interest Collections
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$
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1,037,364.24
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Late Fees & Other Charges
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$
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38,184.59
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Interest on Repurchase Principal
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$
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-
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Total Interest Collections
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$
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1,075,548.83
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Collection Account Interest
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$
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78,550.85
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Reserve Account Interest
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$
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14,634.88
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Servicer Advances
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$
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-
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Total Collections
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$
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21,007,201.38
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IV. DISTRIBUTIONS
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Total Collections
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$
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21,007,201.38
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Reserve Account Release
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$
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-
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Reserve Account Draw
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$
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-
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Total Available for Distribution
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$
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21,007,201.38
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Amount Due
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Interest Pymt Due
but unpaid from
prior periods
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Amount Paid
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1. Servicing Fee @1.00%:
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Servicing Fee Due
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1.00
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%
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$
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302,459.37
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$
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-
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$
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302,459.37
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302,459.37
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Collection Account Interest
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$
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78,550.85
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Late Fees & Other Charges
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$
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38,184.59
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Total due to Servicer
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$
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419,194.81
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2. Class A Noteholders Interest:
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Class A-1 Notes
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$
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-
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$
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-
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Class A-2 Notes
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$
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-
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$
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-
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Class A-3 Notes
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$
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37,294.43
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$
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37,294.43
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Class A-4 Notes
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$
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66,550.00
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$
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66,550.00
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Total Class A interest:
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$
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103,844.43
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$
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103,844.43
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103,844.43
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3. First Priority Principal Distribution:
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$
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-
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$
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-
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0.00
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4. Class B Noteholders Interest:
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$
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18,730.83
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$
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18,730.83
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18,730.83
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5. Second Priority Principal Distribution:
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$
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-
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$
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-
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0.00
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6. Class C Noteholders Interest:
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$
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38,425.33
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$
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38,425.33
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38,425.33
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Available Funds Remaining:
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$
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20,427,005.98
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7. Regular Principal Distribution Amount:
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19,635,935.38
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Distributable Amount
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Paid Amount
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Class A-1 Notes
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$
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-
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Class A-2 Notes
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$
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-
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Class A-3 Notes
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$
|
19,635,935.38
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Class A-4 Notes
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$
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-
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Class A Notes Total:
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$
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19,635,935.38
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$
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19,635,935.38
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Class B Notes Total:
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$
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-
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$
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-
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Class C Notes Total:
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$
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-
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$
|
-
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Total Noteholders Principal
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$
|
19,635,935.38
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$
|
19,635,935.38
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8. Required Deposit to Reserve Account
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0.00
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9. Trustee Expenses and Asset Representations Reviewer Expenses
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0.00
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10. Remaining Available Collections Released to Certificateholder
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|
791,070.60
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V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
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|
Beginning Period Required Amount
|
|
$
|
5,040,946.89
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Beginning Period Amount
|
|
$
|
5,040,946.89
|
|
Current Period Amortization
|
|
$
|
388,320.88
|
|
Ending Period Required Amount
|
|
$
|
4,652,626.01
|
|
Ending Period Amount
|
|
$
|
4,652,626.01
|
|
Next Distribution Date Required Amount
|
|
$
|
4,281,608.63
|
|
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VI. RESERVE ACCOUNT
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Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.25
|
%
|
Beginning Period Required Amount
|
|
|
$
|
3,430,700.21
|
|
Beginning Period Amount
|
|
|
$
|
3,430,700.21
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.25% of APB of cut-off date)
|
|
|
$
|
3,430,700.21
|
|
Ending Period Amount
|
|
|
$
|
3,430,700.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
41,168,402.57
|
|
|
$
|
41,168,402.57
|
|
|
$
|
41,168,402.57
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
11.50
|
%
|
|
12.17
|
%
|
|
12.17
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.51
|
%
|
|
31,410
|
|
|
|
97.81
|
%
|
$
|
335,419,404.22
|
|
30 - 60 Days
|
|
|
1.11
|
%
|
|
353
|
|
|
|
1.60
|
%
|
$
|
5,489,623.29
|
|
61 - 90 Days
|
|
|
0.30
|
%
|
|
97
|
|
|
|
0.46
|
%
|
$
|
1,583,212.33
|
|
91-120 Days
|
|
|
0.08
|
%
|
|
25
|
|
|
|
0.13
|
%
|
$
|
434,743.76
|
|
121 + Days
|
|
|
0.00
|
%
|
|
0
|
|
|
|
0.00
|
%
|
$
|
-
|
|
Total
|
|
|
31,885
|
|
|
|
|
|
|
$
|
342,926,983.60
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.49
|
%
|
|
475
|
|
|
|
2.19
|
%
|
$
|
7,507,579.38
|
|
1st Preceding Collection Period
|
|
|
1.48
|
%
|
|
483
|
|
|
|
2.11
|
%
|
$
|
7,655,513.05
|
|
2nd Preceding Collection Period
|
|
|
1.54
|
%
|
|
514
|
|
|
|
2.17
|
%
|
$
|
8,343,517.02
|
|
3rd Preceding Collection Period
|
|
|
1.76
|
%
|
|
598
|
|
|
|
2.45
|
%
|
$
|
9,919,395.92
|
|
Four-Month Average
|
|
|
1.57
|
%
|
|
|
|
|
|
|
2.23
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.59
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
35
|
|
|
|
|
|
|
$
|
584,402.59
|
|
Repossession Inventory
|
|
|
66
|
|
|
|
|
|
|
$
|
1,129,654.76
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
460,355.69
|
|
Recoveries
|
|
|
$
|
(274,566.25
|
)
|
Net Loss
|
|
|
$
|
185,789.44
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
0.61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
352,939,111.73
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
0.63
|
%
|
1st Preceding Collection Period
|
|
|
|
0.09
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.68
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.62
|
%
|
Four-Month Average
|
|
|
|
0.50
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
32
|
|
|
|
1,278
|
|
|
$
|
23,587,320.36
|
|
Recoveries
|
|
|
25
|
|
|
|
968
|
|
|
$
|
(12,172,028.47
|
)
|
Net Loss
|
|
|
$
|
11,415,291.89
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.82
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
29
|
|
|
|
1,058
|
|
|
$
|
11,438,575.58
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
10,811.51
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
1,399,548.75
|
|
Number of Extensions
|
|
|
|
89
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excludes receivables with recovered amounts equal to or in excess of principal charge-offs due to the recovery of assessments, such as interest and fees.
|