04/29/2024 | Press release | Distributed by Public on 04/29/2024 04:59
World Omni Auto Receivables Trust 2021-B
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 | 282,813,770.79 | 21,183 | ||||||||||
Yield Supplement Overcollateralization Amount 02/29/24 | 4,950,700.54 | 0 | ||||||||||
Receivables Balance 02/29/24 | 287,764,471.33 | 21,183 | ||||||||||
Principal Payments | 13,665,633.38 | 319 | ||||||||||
Defaulted Receivables | 300,595.56 | 16 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 03/31/24 | 4,544,641.47 | 0 | ||||||||||
Pool Balance at 03/31/24 | 269,253,600.92 | 20,848 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 24.82 | % | ||||||||||
Prepayment ABS Speed | 1.07 | % | ||||||||||
Aggregate Starting Principal Balance | 1,102,919,763.19 | 38,162 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 4,120,812.39 | 232 | ||||||||||
Past Due 61-90 days | 1,390,750.47 | 73 | ||||||||||
Past Due 91-120 days | 271,030.62 | 13 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 5,782,593.48 | 318 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 2.11 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.61 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 198,154.96 | |||||||||||
Aggregate Net Losses/(Gains) - March 2024 | 102,440.60 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.43 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.02 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.04 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | 0.35 | % | ||||||||||
Four Month Average | 0.21 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.38 | % | ||||||||||
Overcollateralization Target Amount | 5,319,305.21 | |||||||||||
Actual Overcollateralization | 5,319,305.21 | |||||||||||
Weighted Average Contract Rate | 3.98 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 5.48 | % | ||||||||||
Weighted Average Remaining Term | 30.33 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 14,757,523.60 | |||||||||||
Investment Earnings on Cash Accounts | 13,942.97 | |||||||||||
Servicing Fee | (239,803.73 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 14,531,662.84 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 102,111.31 | |||||||||||
(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 | 8,240,864.66 | |||||||||||
(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 | 824,560.66 | |||||||||||
Total Distributions of Available Funds | 14,531,662.84 | |||||||||||
Servicing Fee | 239,803.73 | |||||||||||
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 @ 03/15/24 | 277,494,465.58 | |||||||||||
Principal Paid | 13,560,169.87 | |||||||||||
Note Balance @ 04/15/24 | 263,934,295.71 | |||||||||||
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 | 132,964,465.58 | |||||||||||
Principal Paid | 13,560,169.87 | |||||||||||
Note Balance @ 04/15/24 | 119,404,295.71 | |||||||||||
Note Factor @ 04/15/24 | 32.4397674 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 03/15/24 | 96,650,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 96,650,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 03/15/24 | 31,920,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 31,920,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 03/15/24 | 15,960,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 04/15/24 | 15,960,000.00 | |||||||||||
Note Factor @ 04/15/24 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 146,932.31 | |||||||||||
Total Principal Paid | 13,560,169.87 | |||||||||||
Total Paid | 13,707,102.18 | |||||||||||
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 | 46,537.56 | |||||||||||
Principal Paid | 13,560,169.87 | |||||||||||
Total Paid to A-3 Holders | 13,606,707.43 | |||||||||||
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 | 0.1384586 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 12.7781473 | |||||||||||
Total Distribution Amount | 12.9166059 | |||||||||||
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 | 0.1264333 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 36.8402789 | |||||||||||
Total A-3 Distribution Amount | 36.9667122 | |||||||||||
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 | 607.73 | |||||||||||
Noteholders' Principal Distributable Amount | 392.27 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 03/15/24 | 2,659,652.60 | |||||||||||
Investment Earnings | 11,787.03 | |||||||||||
Investment Earnings Paid | (11,787.03 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 04/15/24 | 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 | $ | 1,788,310.76 | $ | 1,838,536.50 | $ | 1,924,793.20 | ||||||
Number of Extensions | 102 | 98 | 103 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.62 | % | 0.61 | % | 0.61 | % |