Hyundai Auto Receivables Trust 2020-C
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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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43
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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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September 21, 2020
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Closing Date:
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October 28, 2020
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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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1,324,207,677.37
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53,865
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3.36
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%
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59.75
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Original Adj. Pool Balance:
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$
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1,287,565,993.75
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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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253,700,000.00
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19.159
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%
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0.18575
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%
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November 15, 2021
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Class A-2 Notes
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Fixed
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$
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420,000,000.00
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31.717
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%
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0.26000
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%
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September 15, 2023
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Class A-3 Notes
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Fixed
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$
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420,000,000.00
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31.717
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%
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0.38000
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%
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May 15, 2025
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Class A-4 Notes
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Fixed
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$
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99,870,000.00
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7.542
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%
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0.49000
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%
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November 16, 2026
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Class B Notes
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Fixed
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$
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23,180,000.00
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1.750
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%
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0.81000
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%
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November 16, 2026
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Class C Notes
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Fixed
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$
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38,630,000.00
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2.917
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%
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1.08000
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%
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December 15, 2027
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Total Securities
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$
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1,255,380,000.00
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94.802
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%
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Overcollateralization
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$
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32,185,993.75
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2.431
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%
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YSOA
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$
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36,641,683.62
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2.767
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%
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Total Original Pool Balance
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$
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1,324,207,677.37
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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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-
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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-4 Notes
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$
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83,511,802.60
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0.8362051
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$
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70,211,488.12
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0.7030288
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$
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13,300,314.48
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Class B Notes
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$
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23,180,000.00
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1.0000000
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$
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23,180,000.00
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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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38,630,000.00
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1.0000000
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$
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38,630,000.00
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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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145,321,802.60
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0.1157592
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$
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132,021,488.12
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0.1051646
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$
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13,300,314.48
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Weighted Avg. Coupon (WAC)
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3.28
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%
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3.30
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%
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Weighted Avg. Remaining Maturity (WARM)
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21.82
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21.10
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Pool Receivables Balance
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$
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187,383,560.19
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$
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173,757,979.30
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Remaining Number of Receivables
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23,928
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23,298
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Adjusted Pool Balance
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$
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183,948,782.41
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$
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170,648,467.93
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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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13,408,019.25
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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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260,010.31
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Total Principal Collections
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$
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13,668,029.56
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Interest:
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Interest Collections
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$
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507,557.76
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Late Fees & Other Charges
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$
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27,714.94
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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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535,272.70
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Collection Account Interest
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$
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53,445.99
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Reserve Account Interest
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$
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27,378.46
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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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14,284,126.71
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IV. DISTRIBUTIONS
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Total Collections
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$
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14,284,126.71
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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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14,284,126.71
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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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156,152.97
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$
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-
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$
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156,152.97
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156,152.97
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Collection Account Interest
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$
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53,445.99
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Late Fees & Other Charges
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$
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27,714.94
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Total due to Servicer
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$
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237,313.90
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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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-
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$
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-
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Class A-4 Notes
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$
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34,100.65
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$
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34,100.65
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Total Class A interest:
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$
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34,100.65
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$
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34,100.65
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34,100.65
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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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15,646.50
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$
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15,646.50
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15,646.50
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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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34,767.00
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$
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34,767.00
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34,767.00
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Available Funds Remaining:
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$
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13,962,298.66
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7. Regular Principal Distribution Amount:
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13,300,314.48
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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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$
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-
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Class A-4 Notes
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$
|
13,300,314.48
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Class A Notes Total:
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$
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13,300,314.48
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$
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13,300,314.48
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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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$
|
13,300,314.48
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$
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13,300,314.48
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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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|
|
661,984.18
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V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
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Beginning Period Required Amount
|
|
$
|
3,434,777.78
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Beginning Period Amount
|
|
$
|
3,434,777.78
|
|
Current Period Amortization
|
|
$
|
325,266.41
|
|
Ending Period Required Amount
|
|
$
|
3,109,511.37
|
|
Ending Period Amount
|
|
$
|
3,109,511.37
|
|
Next Distribution Date Required Amount
|
|
$
|
2,804,588.52
|
|
VI. RESERVE ACCOUNT
|
|
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Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.50
|
%
|
Beginning Period Required Amount
|
|
|
$
|
6,437,829.97
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|
Beginning Period Amount
|
|
|
$
|
6,437,829.97
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.50% of APB of cut-off date)
|
|
|
$
|
6,437,829.97
|
|
Ending Period Amount
|
|
|
$
|
6,437,829.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
38,626,979.81
|
|
|
$
|
38,626,979.81
|
|
|
$
|
38,626,979.81
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
21.00
|
%
|
|
22.64
|
%
|
|
22.64
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.45
|
%
|
|
22,936
|
|
|
|
97.29
|
%
|
$
|
169,045,267.01
|
|
30 - 60 Days
|
|
|
1.18
|
%
|
|
276
|
|
|
|
2.09
|
%
|
$
|
3,634,708.41
|
|
61 - 90 Days
|
|
|
0.31
|
%
|
|
72
|
|
|
|
0.52
|
%
|
$
|
907,880.43
|
|
91-120 Days
|
|
|
0.06
|
%
|
|
13
|
|
|
|
0.09
|
%
|
$
|
161,015.24
|
|
121 + Days
|
|
|
0.00
|
%
|
|
1
|
|
|
|
0.01
|
%
|
$
|
9,108.21
|
|
Total
|
|
|
23,298
|
|
|
|
|
|
|
$
|
173,757,979.30
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.55
|
%
|
|
362
|
|
|
|
2.71
|
%
|
$
|
4,712,712.29
|
|
1st Preceding Collection Period
|
|
|
1.62
|
%
|
|
387
|
|
|
|
2.71
|
%
|
$
|
5,069,548.14
|
|
2nd Preceding Collection Period
|
|
|
1.56
|
%
|
|
384
|
|
|
|
2.50
|
%
|
$
|
5,055,948.31
|
|
3rd Preceding Collection Period
|
|
|
1.75
|
%
|
|
443
|
|
|
|
2.83
|
%
|
$
|
6,166,121.99
|
|
Four-Month Average
|
|
|
1.62
|
%
|
|
|
|
|
|
|
2.69
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.62
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
23
|
|
|
|
|
|
|
$
|
352,295.48
|
|
Repossession Inventory
|
|
|
48
|
|
|
|
|
|
|
$
|
795,625.66
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
217,561.64
|
|
Recoveries
|
|
|
$
|
(260,010.31
|
)
|
Net Loss
|
|
|
$
|
(42,448.67
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
-0.27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
180,570,769.75
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
-0.28
|
%
|
1st Preceding Collection Period
|
|
|
|
1.28
|
%
|
2nd Preceding Collection Period
|
|
|
|
-0.45
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.35
|
%
|
Four-Month Average
|
|
|
|
0.22
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
17
|
|
|
|
1,490
|
|
|
$
|
24,626,472.03
|
|
Recoveries
|
|
|
27
|
|
|
|
1,200
|
|
|
$
|
(14,200,596.03
|
)
|
Net Loss
|
|
|
$
|
10,425,876.00
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.79
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
11
|
|
|
|
1,200
|
|
|
$
|
10,504,909.29
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
8,754.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
654,947.56
|
|
Number of Extensions
|
|
|
|
49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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.
|