World Omni Auto Receivables Trust 2021-A

04/29/2024 | Press release | Distributed by Public on 04/29/2024 04:57

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2021-A
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 02/29/24 232,565,067.01 19,380
Yield Supplement Overcollateralization Amount 02/29/24 5,230,254.60 0
Receivables Balance 02/29/24 237,795,321.61 19,380
Principal Payments 12,842,700.90 348
Defaulted Receivables 254,264.83 12
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 03/31/24 4,756,563.23 0
Pool Balance at 03/31/24 219,941,792.65 19,020
Pool Statistics $ Amount # of Accounts
Pool Factor 19.41 %
Prepayment ABS Speed 1.07 %
Aggregate Starting Principal Balance 1,157,521,164.95 46,418
Delinquent Receivables:
Past Due 31-60 days 4,134,182.18 246
Past Due 61-90 days 1,104,442.21 65
Past Due 91-120 days 99,030.46 6
Past Due 121+ days 0.00 0
Total 5,337,654.85 317
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.38 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.54 %
Delinquency Trigger Occurred NO
Recoveries 123,328.71
Aggregate Net Losses/(Gains) - March 2024 130,936.12
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.66 %
Prior Net Losses/(Gains) Ratio 0.34 %
Second Prior Net Losses/(Gains) Ratio 0.58 %
Third Prior Net Losses/(Gains) Ratio 0.20 %
Four Month Average 0.45 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.35 %
Overcollateralization Target Amount 5,504,632.16
Actual Overcollateralization 5,504,632.16
Weighted Average Contract Rate 3.63 %
Weighted Average Contract Rate, Yield Adjusted 5.75 %
Weighted Average Remaining Term 26.83
Flow of Funds $ Amount
Collections 13,641,527.98
Investment Earnings on Cash Accounts 26,455.62
Servicing Fee (198,162.77 )
Transfer to Collection Account 0.00
Available Funds 13,469,820.83
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 59,380.61
(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 7,118,642.20
(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 757,297.53
Total Distributions of Available Funds 13,469,820.83
Servicing Fee 198,162.77
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 @ 03/15/24 227,060,434.85
Principal Paid 12,623,274.36
Note Balance @ 04/15/24 214,437,160.49
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 77,490,434.85
Principal Paid 12,623,274.36
Note Balance @ 04/15/24 64,867,160.49
Note Factor @ 04/15/24 16.6070559 %
Class A-4
Note Balance @ 03/15/24 100,020,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 100,020,000.00
Note Factor @ 04/15/24 100.0000000 %
Class B
Note Balance @ 03/15/24 33,030,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 33,030,000.00
Note Factor @ 04/15/24 100.0000000 %
Class C
Note Balance @ 03/15/24 16,520,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 16,520,000.00
Note Factor @ 04/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 89,248.94
Total Principal Paid 12,623,274.36
Total Paid 12,712,523.30
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 19,372.61
Principal Paid 12,623,274.36
Total Paid to A-3 Holders 12,642,646.97
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 0.0812706
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 11.4948272
Total Distribution Amount 11.5760978
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 0.0495971
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 32.3176507
Total A-3 Distribution Amount 32.3672478
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 563.93
Noteholders' Principal Distributable Amount 436.07
Account Balances $ Amount
Reserve Account
Balance as of 03/15/24 5,504,632.16
Investment Earnings 24,520.41
Investment Earnings Paid (24,520.41 )
Deposit/(Withdrawal) -
Balance as of 04/15/24 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 $ 1,069,003.77 $ 1,251,216.59 $ 1,770,322.56
Number of Extensions 67 76 104
Ratio of extensions to Beginning of Period Receivables Balance 0.45 % 0.50 % 0.67 %