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