Results

World Omni Select Auto Trust 2021-A

03/28/2024 | Press release | Distributed by Public on 03/28/2024 06:42

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Select Auto Trust 2021-A

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 01/31/24 306,963,357.95 17,279
Principal Payments 11,546,898.24 279
Defaulted Receivables 1,740,861.12 94
Repurchased Accounts 0.00 0
Pool Balance at 02/29/24 293,675,598.59 16,906
Pool Statistics $ Amount # of Accounts
Pool Factor 27.68 %
Prepayment ABS Speed 1.18 %
Aggregate Starting Principal Balance 1,061,120,455.52 39,395
Delinquent Receivables:
Past Due 31-60 days 22,613,419.85 1,153
Past Due 61-90 days 6,793,144.23 336
Past Due 91-120 days 938,741.30 50
Past Due 121+ days 0.00 0
Total 30,345,305.38 1,539
Total 31+ Delinquent as % Ending Pool Balance 10.33 %
Total 61+ Delinquent as % Ending Pool Balance 2.63 %
Delinquency Trigger Occurred NO
Recoveries 1,291,200.38
Aggregate Net Losses/(Gains) - February 2024 449,660.74
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 1.76 %
Prior Net Losses/(Gains) Ratio 3.68 %
Second Prior Net Losses/(Gains) Ratio 2.52 %
Third Prior Net Losses/(Gains) Ratio 2.53 %
Four Month Average 2.62 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 1.72 %
Overcollateralization Target Amount 29,367,559.86
Actual Overcollateralization 29,367,559.86
Weighted Average Contract Rate 7.96 %
Weighted Average Remaining Term 38.15
Flow of Funds $ Amount
Collections 14,851,355.05
Investment Earnings on Cash Accounts 24,125.15
Servicing Fee (319,753.50 )
Transfer to Collection Account -
Available Funds 14,555,726.70
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 37,655.18
(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 11,958,983.42
(14) Asset Representation Reviewer Amounts (in excess of 1) -
(15) Distribution to Certificateholders 2,403,139.10
Total Distributions of Available Funds 14,555,726.70
Servicing Fee 319,753.50
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 @ 02/15/24 276,267,022.15
Principal Paid 11,958,983.42
Note Balance @ 03/15/24 264,308,038.73
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 85,257,022.15
Principal Paid 11,958,983.42
Note Balance @ 03/15/24 73,298,038.73
Note Factor @ 03/15/24 27.1423954 %
Class B
Note Balance @ 02/15/24 61,020,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 61,020,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 61,020,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 61,020,000.00
Note Factor @ 03/15/24 100.0000000 %
Class D
Note Balance @ 02/15/24 47,750,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 47,750,000.00
Note Factor @ 03/15/24 100.0000000 %
Class E
Note Balance @ 02/15/24 21,220,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 21,220,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 193,604.18
Total Principal Paid 11,958,983.42
Total Paid 12,152,587.60
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 37,655.18
Principal Paid 11,958,983.42
Total Paid to A-3 Holders 11,996,638.60
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 0.1920562
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 11.8633647
Total Distribution Amount 12.0554209
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 0.1394378
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 44.2843304
Total A-3 Distribution Amount 44.4237682
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 02/15/24 5,305,602.28
Investment Earnings 21,992.40
Investment Earnings Paid (21,992.40 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 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 $ 4,967,420.02 $ 6,739,844.64 $ 6,413,674.15
Number of Extensions 258 341 318
Ratio of extensions to Beginning of Period Receivables Balance 1.62 % 2.10 % 1.92 %

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.