World Omni Auto Receivables Trust 2020-C

03/28/2024 | Press release | Distributed by Public on 03/28/2024 05:26

Asset-Backed Issuer Distribution Report - Form 10-D

World Omni Auto Receivables Trust 2020-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 01/31/24 213,689,573.62 20,403
Yield Supplement Overcollateralization Amount 01/31/24 3,377,737.19 0
Receivables Balance 01/31/24 217,067,310.81 20,403
Principal Payments 12,550,060.32 536
Defaulted Receivables 93,427.06 9
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 02/29/24 3,043,988.04 0
Pool Balance at 02/29/24 201,379,835.39 19,858
Pool Statistics $ Amount # of Accounts
Pool Factor 15.51 %
Prepayment ABS Speed 1.07 %
Aggregate Starting Principal Balance 1,318,405,815.29 46,124
Delinquent Receivables:
Past Due 31-60 days 2,533,867.80 174
Past Due 61-90 days 746,764.39 51
Past Due 91-120 days 88,353.78 7
Past Due 121+ days 0.00 0
Total 3,368,985.97 232
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.65 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.41 %
Delinquency Trigger Occurred NO
Recoveries 199,016.50
Aggregate Net Losses/(Gains) - February 2024 (105,589.44 )
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio -0.58 %
Prior Net Losses/(Gains) Ratio 0.61 %
Second Prior Net Losses/(Gains) Ratio 0.32 %
Third Prior Net Losses/(Gains) Ratio 0.49 %
Four Month Average 0.21 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.33 %
Overcollateralization Target Amount 6,324,057.64
Actual Overcollateralization 6,324,057.64
Weighted Average Contract Rate 4.09 %
Weighted Average Contract Rate, Yield Adjusted 5.71 %
Weighted Average Remaining Term 24.53
Flow of Funds $ Amount
Collections 13,483,225.84
Investment Earnings on Cash Accounts 54,564.04
Servicing Fee (180,889.43 )
Transfer to Collection Account -
Available Funds 13,356,900.45
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) 0.00
(2) Class A Interest 71,612.04
(3) Noteholders' First Priority Principal Distributable Amount 0.00
(4) Class B Interest 27,383.25
(5) Noteholders' Second Priority Principal Distributable Amount 0.00
(6) Class C Interest 21,892.50
(7) Noteholders' Third Priority Principal Distributable Amount 5,985,680.59
(8) Required Reserve Account 0.00
(9) Noteholders' Principal Distributable Amount 6,324,057.64
(10) Asset Representation Reviewer Amounts (in excess of 1) 0.00
(11) Distribution to Certificateholders 926,274.43
Total Distributions of Available Funds 13,356,900.45
Servicing Fee 180,889.43
Unpaid Servicing Fee 0.00
Change in amount of the unpaid servicing fee from the prior period 0.00
Note Balances & Note Factors $ Amount
Original Class A 1,199,070,000.00
Original Class B 37,770,000.00
Original Class C 18,900,000.00
Total Class A, B, & C
Note Balance @ 02/15/24 207,365,515.98
Principal Paid 12,309,738.23
Note Balance @ 03/15/24 195,055,777.75
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 46,075,515.98
Principal Paid 12,309,738.23
Note Balance @ 03/15/24 33,765,777.75
Note Factor @ 03/15/24 8.1029440 %
Class A-4
Note Balance @ 02/15/24 104,620,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 104,620,000.00
Note Factor @ 03/15/24 100.0000000 %
Class B
Note Balance @ 02/15/24 37,770,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 37,770,000.00
Note Factor @ 03/15/24 100.0000000 %
Class C
Note Balance @ 02/15/24 18,900,000.00
Principal Paid 0.00
Note Balance @ 03/15/24 18,900,000.00
Note Factor @ 03/15/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 120,887.79
Total Principal Paid 12,309,738.23
Total Paid 12,430,626.02
Class A-1
Coupon 0.20684 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.35000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.48000 %
Interest Paid 18,430.21
Principal Paid 12,309,738.23
Total Paid to A-3 Holders 12,328,168.44
Class A-4
Coupon 0.61000 %
Interest Paid 53,181.83
Principal Paid 0.00
Total Paid to A-4 Holders 53,181.83
Class B
Coupon 0.87000 %
Interest Paid 27,383.25
Principal Paid 0.00
Total Paid to B Holders 27,383.25
Class C
Coupon 1.39000 %
Interest Paid 21,892.50
Principal Paid 0.00
Total Paid to C Holders 21,892.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0962682
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 9.8027762
Total Distribution Amount 9.8990444
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 0.0442279
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 29.5402996
Total A-3 Distribution Amount 29.5845275
A-4 Interest Distribution Amount 0.5083333
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5083333
B Interest Distribution Amount 0.7250000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7250000
C Interest Distribution Amount 1.1583333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.1583333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 486.26
Noteholders' Principal Distributable Amount 513.74
Account Balances $ Amount
Reserve Account
Balance as of 02/15/24 12,588,844.52
Investment Earnings 52,472.19
Investment Earnings Paid (52,472.19 )
Deposit/(Withdrawal) -
Balance as of 03/15/24 12,588,844.52
Change -
Required Reserve Amount 12,588,844.52
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 819,754.43 $ 1,137,146.80 $ 1,475,704.05
Number of Extensions 57 75 96
Ratio of extensions to Beginning of Period Receivables Balance 0.38 % 0.49 % 0.61 %