World Omni Select Auto Trust 2021-A

11/29/2023 | Press release | Distributed by Public on 11/29/2023 06:38

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Select Auto Trust 2021-A
Monthly Servicer Certificate
October 31, 2023
Dates Covered
Collections Period 10/01/23 - 10/31/23
Interest Accrual Period 10/16/23 - 11/14/23
30/360 Days 30
Actual/360 Days 30
Distribution Date 11/15/23
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 09/30/23 361,861,854.68 18,760
Principal Payments 13,440,428.57 347
Defaulted Receivables 1,768,441.05 95
Repurchased Accounts 0.00 0
Pool Balance at 10/31/23 346,652,985.06 18,318
Pool Statistics $ Amount # of Accounts
Pool Factor 32.67 %
Prepayment ABS Speed 1.27 %
Aggregate Starting Principal Balance 1,061,120,455.52 39,395
Delinquent Receivables:
Past Due 31-60 days 26,023,677.57 1,256
Past Due 61-90 days 8,505,040.50 406
Past Due 91-120 days 1,748,632.10 90
Past Due 121+ days 0.00 0
Total 36,277,350.17 1,752
Total 31+ Delinquent as % Ending Pool Balance 10.47 %
Total 61+ Delinquent as % Ending Pool Balance 2.96 %
Delinquency Trigger Occurred NO
Recoveries 1,543,875.02
Aggregate Net Losses/(Gains) - October 2023 224,566.03
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.74 %
Prior Net Losses/(Gains) Ratio 2.37 %
Second Prior Net Losses/(Gains) Ratio 2.20 %
Third Prior Net Losses/(Gains) Ratio 1.76 %
Four Month Average 1.77 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 1.45 %
Overcollateralization Target Amount 34,665,298.51
Actual Overcollateralization 34,665,298.51
Weighted Average Contract Rate 7.97 %
Weighted Average Remaining Term 41.92
Flow of Funds $ Amount
Collections 17,387,085.92
Investment Earnings on Cash Accounts 26,094.45
Servicing Fee (376,939.43 )
Transfer to Collection Account -
Available Funds 17,036,240.94
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 59,477.34
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 43,222.50
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 55,426.50
(7) Noteholders' Third Priority Principal Distributable Amount -
(8) Class D Interest 57,300.00
(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 13,687,982.66
(14) Asset Representation Reviewer Amounts (in excess of 1) -
(15) Distribution to Certificateholders 3,132,831.94
Total Distributions of Available Funds 17,036,240.94
Servicing Fee 376,939.43
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 817,050,000.00
Original Class B 61,020,000.00
Original Class C 61,020,000.00
Original Class D 47,750,000.00
Original Class E 21,220,000.00
Total Class A, B, C, D & E
Note Balance @ 10/16/23 325,675,669.21
Principal Paid 13,687,982.66
Note Balance @ 11/15/23 311,987,686.55
Class A-1
Note Balance @ 10/16/23 0.00
Principal Paid 0.00
Note Balance @ 11/15/23 0.00
Note Factor @ 11/15/23 0.0000000 %
Class A-2
Note Balance @ 10/16/23 0.00
Principal Paid 0.00
Note Balance @ 11/15/23 0.00
Note Factor @ 11/15/23 0.0000000 %
Class A-3
Note Balance @ 10/16/23 134,665,669.21
Principal Paid 13,687,982.66
Note Balance @ 11/15/23 120,977,686.55
Note Factor @ 11/15/23 44.7982546 %
Class B
Note Balance @ 10/16/23 61,020,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 61,020,000.00
Note Factor @ 11/15/23 100.0000000 %
Class C
Note Balance @ 10/16/23 61,020,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 61,020,000.00
Note Factor @ 11/15/23 100.0000000 %
Class D
Note Balance @ 10/16/23 47,750,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 47,750,000.00
Note Factor @ 11/15/23 100.0000000 %
Class E
Note Balance @ 10/16/23 21,220,000.00
Principal Paid 0.00
Note Balance @ 11/15/23 21,220,000.00
Note Factor @ 11/15/23 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 215,426.34
Total Principal Paid 13,687,982.66
Total Paid 13,903,409.00
Class A-1
Coupon 0.09567 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.29000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.53000 %
Interest Paid 59,477.34
Principal Paid 13,687,982.66
Total Paid to A-3 Holders 13,747,460.00
Class B
Coupon 0.85000 %
Interest Paid 43,222.50
Principal Paid 0.00
Total Paid to B Holders 43,222.50
Class C
Coupon 1.09000 %
Interest Paid 55,426.50
Principal Paid 0.00
Total Paid to C Holders 55,426.50
Class D
Coupon 1.44000 %
Interest Paid 57,300.00
Principal Paid 0.00
Total Paid to D Holders 57,300.00
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 0.2137039
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 13.5785396
Total Distribution Amount 13.7922435
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 0.2202457
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 50.6868456
Total A-3 Distribution Amount 50.9070913
B Interest Distribution Amount 0.7083333
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7083333
C Interest Distribution Amount 0.9083333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 0.9083333
D Interest Distribution Amount 1.2000000
D Interest Carryover Shortfall 0.0000000
D Principal Distribution Amount 0.0000000
Total D Distribution Amount 1.2000000
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 10/16/23 5,305,602.28
Investment Earnings 23,655.58
Investment Earnings Paid (23,655.58 )
Deposit/(Withdrawal) -
Balance as of 11/15/23 5,305,602.28
Change -
Required Reserve Amount 5,305,602.28
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 6,257,971.57 $ 6,060,528.51 $ 7,487,951.29
Number of Extensions 296 295 347
Ratio of extensions to Beginning of Period Receivables Balance 1.73 % 1.61 % 1.90 %

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 2021-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 WOARor 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.