World Omni Select Auto Trust 2020 A

04/29/2024 | Press release | Distributed by Public on 04/29/2024 05:41

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Select Auto Trust 2020-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 02/29/24 121,482,075.97 10,341
Principal Payments 6,120,261.51 182
Defaulted Receivables 603,708.58 44
Repurchased Accounts 0.00 0
Pool Balance at 03/31/24 114,758,105.88 10,115
Pool Statistics $ Amount # of Accounts
Pool Factor 13.25 %
Prepayment ABS Speed 1.05 %
Aggregate Starting Principal Balance 865,949,696.84 33,461
Delinquent Receivables:
Past Due 31-60 days 9,035,778.77 658
Past Due 61-90 days 2,512,821.17 183
Past Due 91-120 days 309,484.25 24
Past Due 121+ days 0.00 0
Total 11,858,084.19 865
Total 31+ Delinquent as % Ending Pool Balance 10.33 %
Total 61+ Delinquent as % Ending Pool Balance 2.46 %
Delinquency Trigger Occurred NO
Recoveries 531,021.22
Aggregate Net Losses/(Gains) - March 2024 72,687.36
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.72 %
Prior Net Losses/(Gains) Ratio 1.75 %
Second Prior Net Losses/(Gains) Ratio 0.12 %
Third Prior Net Losses/(Gains) Ratio 2.22 %
Four Month Average 1.20 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 1.74 %
Overcollateralization Target Amount 17,318,993.94
Actual Overcollateralization 17,318,993.94
Weighted Average Contract Rate 8.34 %
Weighted Average Remaining Term 26.04
Flow of Funds $ Amount
Collections 7,440,247.94
Investment Earnings on Cash Accounts 58,953.84
Servicing Fee (126,543.83 )
Transfer to Collection Account -
Available Funds 7,372,657.95
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest -
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 1,997.16
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 46,010.42
(7) Noteholders' Third Priority Principal Distributable Amount -
(8) Class D Interest 53,351.67
(9) Noteholders' Fourth Priority Principal Distributable Amount -
(10) Class E Interest -
(11) Noteholders' Fifth Priority Principal Distributable Amount -
(12) Required Reserve Account -
(13) Noteholders' Principal Distributable Amount 6,723,970.09
(14) Asset Representation Reviewer Amounts (in excess of 1) -
(15) Distribution to Certificateholders 547,328.61
Total Distributions of Available Funds 7,372,657.95
Servicing Fee 126,543.83
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 630,400,000.00
Original Class B 69,260,000.00
Original Class C 44,170,000.00
Original Class D 37,660,000.00
Original Class E 19,480,000.00
Total Class A, B, C, D & E
Note Balance @ 03/15/24 104,163,082.03
Principal Paid 6,723,970.09
Note Balance @ 04/15/24 97,439,111.94
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 0.00
Principal Paid 0.00
Note Balance @ 04/15/24 0.00
Note Factor @ 04/15/24 0.0000000 %
Class B
Note Balance @ 03/15/24 2,853,082.03
Principal Paid 2,853,082.03
Note Balance @ 04/15/24 0.00
Note Factor @ 04/15/24 0.0000000 %
Class C
Note Balance @ 03/15/24 44,170,000.00
Principal Paid 3,870,888.06
Note Balance @ 04/15/24 40,299,111.94
Note Factor @ 04/15/24 91.2363866 %
Class D
Note Balance @ 03/15/24 37,660,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 37,660,000.00
Note Factor @ 04/15/24 100.0000000 %
Class E
Note Balance @ 03/15/24 19,480,000.00
Principal Paid 0.00
Note Balance @ 04/15/24 19,480,000.00
Note Factor @ 04/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 101,359.25
Total Principal Paid 6,723,970.09
Total Paid 6,825,329.34
Class A-1
Coupon 0.20633 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.47000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.55000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-3 Holders 0.00
Class B
Coupon 0.84000 %
Interest Paid 1,997.16
Principal Paid 2,853,082.03
Total Paid to B Holders 2,855,079.19
Class C
Coupon 1.25000 %
Interest Paid 46,010.42
Principal Paid 3,870,888.06
Total Paid to C Holders 3,916,898.48
Class D
Coupon 1.70000 %
Interest Paid 53,351.67
Principal Paid 0.00
Total Paid to D Holders 53,351.67
Class E
Coupon 0.00000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to E Holders 0.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1265456
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 8.3947839
Total Distribution Amount 8.5213295
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 0.0000000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 0.0000000
B Interest Distribution Amount 0.0288357
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 41.1937919
Total B Distribution Amount 41.2226276
C Interest Distribution Amount 1.0416667
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 87.6361345
Total C Distribution Amount 88.6778012
D Interest Distribution Amount 1.4166668
D Interest Carryover Shortfall 0.0000000
D Principal Distribution Amount 0.0000000
Total D Distribution Amount 1.4166668
E Interest Distribution Amount 0.0000000
E Interest Carryover Shortfall 0.0000000
E Principal Distribution Amount 0.0000000
Total E Distribution Amount 0.0000000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 0.00
Noteholders' Fourth Priority Principal Distributable Amount 0.00
Noteholders' Fifth Priority Principal Distributable Amount 0.00
Noteholders' Principal Distributable Amount 1,000.00
Account Balances $ Amount
Reserve Account
Balance as of 03/15/24 12,989,245.45
Investment Earnings 57,860.67
Investment Earnings Paid (57,860.67 )
Deposit/(Withdrawal) -
Balance as of 04/15/24 12,989,245.45
Change -
Required Reserve Amount 12,989,245.45
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,272,166.61 $ 1,479,789.40 $ 2,350,019.33
Number of Extensions 97 114 163
Ratio of extensions to Beginning of Period Receivables Balance 1.05 % 1.15 % 1.74 %

Credit Risk Retention Information

World Omni Financial Corp. ("World Omni"), as "originator" for the purposes of the EU Securitization Rules (as defined in the Sale and Servicing Agreement), continues to retain, a material net economic interest (the "EU Retained Interest"), in the form of retention of a first loss tranche as described in option (d) of Article 6(3) of the EU Securitization Regulation, by holding all the limited liability company interests in World Omni Auto Receivables LLC ("WOAR"), which in turn retains the Certificates (as defined in the Sale and Servicing Agreement) issued by World Omni Select Auto Trust 2020-A, such Certificates representing at least 5% of the aggregate nominal value of the Receivables (as defined in the Sale and Servicing Agreement) in the pool.

World Omni has not (and has not permitted WOAR or any of its other affiliates to subject the EU Retained Interest to any hedge or otherwise mitigate its credit risk under or associated with the EU Retained Interest, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest) subject the EU Retained Interest to any credit risk mitigation or hedging, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest, except, in each case to the extent permitted in accordance with the EU Securitization Rules. Further, World Omni has not changed the retention option or method of calculating the EU Retained Interest.