World Omni Auto Receivables Trust 2021-C

28/03/2024 | Press release | Distributed by Public on 28/03/2024 11:40

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2021-C
Monthly Servicer Certificate
February 29, 2024
Dates Covered
Collections Period 02/01/24 - 02/29/24
Interest Accrual Period 02/15/24 - 03/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 03/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 01/31/24 349,746,190.46 23,038
Yield Supplement Overcollateralization Amount 01/31/24 5,229,035.67 0
Receivables Balance 01/31/24 354,975,226.13 23,038
Principal Payments 15,537,108.70 355
Defaulted Receivables 434,221.34 21
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 4,815,295.51 0
Pool Balance at 02/29/24 334,188,600.58 22,662
Pool Statistics $ Amount # of Accounts
Pool Factor 28.18 %
Prepayment ABS Speed 1.07 %
Aggregate Starting Principal Balance 1,202,898,752.29 49,569
Delinquent Receivables:
Past Due 31-60 days 5,452,740.34 259
Past Due 61-90 days 1,880,663.34 89
Past Due 91-120 days 413,526.62 24
Past Due 121+ days 0.00 0
Total 7,746,930.30 372
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.29 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.68 %
Delinquency Trigger Occurred NO
Recoveries 290,531.56
Aggregate Net Losses/(Gains) - February 2024 143,689.78
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.49 %
Prior Net Losses/(Gains) Ratio 0.36 %
Second Prior Net Losses/(Gains) Ratio 0.49 %
Third Prior Net Losses Ratio/(Gains) 0.20 %
Four Month Average 0.39 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.45 %
Overcollateralization Target Amount 5,849,148.06
Actual Overcollateralization 5,849,148.06
Weighted Average Contract Rate 3.92 %
Weighted Average Contract Rate, Yield Adjusted 5.15 %
Weighted Average Remaining Term 34.12
Flow of Funds $ Amount
Collections 16,986,307.85
Investment Earnings on Cash Accounts 14,676.18
Servicing Fee (295,812.69 )
Transfer to Collection Account -
Available Funds 16,705,171.34
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 123,499.25
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 24,563.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 15,502.50
(7) Noteholders' Third Priority Principal Distributable Amount 9,708,441.82
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,849,148.06
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 984,016.71
Total Distributions of Available Funds 16,705,171.34
Servicing Fee 295,812.69
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,114,250,000.00
Original Class B 35,090,000.00
Original Class C 17,550,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 343,897,042.40
Principal Paid 15,557,589.88
Note Balance @ 03/15/24 328,339,452.52
Class A-1
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-2
Note Balance @ 02/15/24 0.00
Principal Paid 0.00
Note Balance @ 03/15/24 0.00
Note Factor @ 03/15/24 0.0000000 %
Class A-3
Note Balance @ 02/15/24 191,027,042.40
Principal Paid 15,557,589.88
Note Balance @ 03/15/24 175,469,452.52
Note Factor @ 03/15/24 45.5752974 %
Class A-4
Note Balance @ 02/15/24 100,230,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 100,230,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 35,090,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 35,090,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 17,550,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 17,550,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 163,564.75
Total Principal Paid 15,557,589.88
Total Paid 15,721,154.63
Class A-1
Coupon 0.11273 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.22000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.44000 %
Interest Paid 70,043.25
Principal Paid 15,557,589.88
Total Paid to A-3 Holders 15,627,633.13
Class A-4
Coupon 0.64000 %
Interest Paid 53,456.00
Principal Paid 0.00
Total Paid to A-4 Holders 53,456.00
Class B
Coupon 0.84000 %
Interest Paid 24,563.00
Principal Paid 0.00
Total Paid to B Holders 24,563.00
Class C
Coupon 1.06000 %
Interest Paid 15,502.50
Principal Paid 0.00
Total Paid to C Holders 15,502.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1401715
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 13.3325248
Total Distribution Amount 13.4726963
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 0.1819258
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 40.4082748
Total A-3 Distribution Amount 40.5902006
A-4 Interest Distribution Amount 0.5333333
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5333333
B Interest Distribution Amount 0.7000000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7000000
C Interest Distribution Amount 0.8833333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 0.8833333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 624.03
Noteholders' Principal Distributable Amount 375.97
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 2,924,574.03
Investment Earnings 12,122.74
Investment Earnings Paid (12,122.74 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 2,924,574.03
Change -
Required Reserve Amount 2,924,574.03
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,825,496.69 $ 2,508,112.62 $ 2,777,753.09
Number of Extensions 90 125 131
Ratio of extensions to Beginning of Period Receivables Balance 0.51 % 0.67 % 0.72 %