Hyundai Auto Receivables Trust 2021-C
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Monthly Servicing Report
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Collection Period
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June 2024
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Distribution Date
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07/15/24
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Transaction Month
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32
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30/360 Days
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30
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Actual/360 Days
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28
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I. ORIGINAL DEAL PARAMETERS
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Cut off Date:
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October 4, 2021
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Closing Date:
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November 17, 2021
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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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1,577,990,687.37
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63,367
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3.33
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%
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58.83
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Original Adj. Pool Balance:
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$
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1,535,309,741.31
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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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290,000,000.00
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18.378
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%
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0.12071
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%
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November 15, 2022
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Class A-2-A Notes
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Fixed
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$
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399,500,000.00
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25.317
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%
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0.36000
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%
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October 15, 2024
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Class A-2-B Notes
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Floating
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$
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100,000,000.00
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6.337
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%
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SOFR + 0.20
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%
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October 15, 2024
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Class A-3 Notes
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Fixed
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$
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494,500,000.00
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31.337
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%
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0.74000
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%
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May 15, 2026
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Class A-4 Notes
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Fixed
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$
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139,230,000.00
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8.823
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%
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1.03000
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%
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December 15, 2027
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Class B Notes
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Fixed
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$
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27,640,000.00
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1.752
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%
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1.49000
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%
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December 15, 2027
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Class C Notes
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Fixed
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$
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46,060,000.00
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2.919
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%
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1.66000
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%
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June 15, 2028
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Total Securities
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$
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1,496,930,000.00
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94.863
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%
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Overcollateralization
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$
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38,379,741.31
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2.432
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%
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YSOA
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$
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42,680,946.06
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2.705
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%
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Total Original Pool Balance
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$
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1,577,990,687.37
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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-A 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-B 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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186,926,101.00
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0.3780103
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$
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163,388,964.44
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0.3304125
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$
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23,537,136.56
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Class A-4 Notes
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$
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139,230,000.00
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1.0000000
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$
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139,230,000.00
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1.0000000
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$
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-
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Class B Notes
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$
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27,640,000.00
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1.0000000
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$
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27,640,000.00
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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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46,060,000.00
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1.0000000
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$
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46,060,000.00
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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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399,856,101.00
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0.2671174
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$
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376,318,964.44
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0.2513938
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$
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23,537,136.56
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Weighted Avg. Coupon (WAC)
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3.28
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%
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3.29
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%
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Weighted Avg. Remaining Maturity (WARM)
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28.45
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27.59
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Pool Receivables Balance
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$
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454,182,120.07
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$
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430,005,590.36
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Remaining Number of Receivables
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39,034
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38,257
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Adjusted Pool Balance
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$
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445,915,393.24
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$
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422,378,256.68
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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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23,681,806.40
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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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295,638.38
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Total Principal Collections
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$
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23,977,444.78
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Interest:
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Interest Collections
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$
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1,230,900.73
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Late Fees & Other Charges
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$
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57,057.96
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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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1,287,958.69
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Collection Account Interest
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$
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102,773.01
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Reserve Account Interest
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$
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16,352.05
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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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25,384,528.53
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IV. DISTRIBUTIONS
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Total Collections
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$
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25,384,528.53
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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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25,384,528.53
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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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378,485.10
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$
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-
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$
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378,485.10
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378,485.10
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Collection Account Interest
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$
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102,773.01
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Late Fees & Other Charges
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$
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57,057.96
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Total due to Servicer
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$
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538,316.07
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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-A Notes
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$
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-
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$
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-
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Class A-2-B 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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115,271.10
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$
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115,271.10
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Class A-4 Notes
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$
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119,505.75
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$
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119,505.75
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Total Class A interest:
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$
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234,776.85
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$
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234,776.85
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234,776.85
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3. First Priority Principal Distribution:
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$
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0.00
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$
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0.00
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0.00
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4. Class B Noteholders Interest:
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$
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34,319.67
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$
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34,319.67
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34,319.67
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5. Second Priority Principal Distribution:
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$
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0.00
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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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63,716.33
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$
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63,716.33
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63,716.33
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Available Funds Remaining:
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$
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24,513,399.61
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7. Regular Principal Distribution Amount:
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23,537,136.56
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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-A Notes
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$
|
-
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Class A-2-B Notes
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$
|
-
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Class A-3 Notes
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|
$
|
23,537,136.56
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Class A-4 Notes
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|
$
|
-
|
|
|
|
|
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|
Class A Notes Total:
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$
|
23,537,136.56
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$
|
23,537,136.56
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|
|
|
|
|
|
Class B Notes Total:
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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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|
$
|
23,537,136.56
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$
|
23,537,136.56
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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
|
|
|
|
976,263.05
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V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
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|
|
|
|
|
|
|
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|
Beginning Period Required Amount
|
|
|
$
|
8,266,726.83
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|
Beginning Period Amount
|
|
|
$
|
8,266,726.83
|
|
Current Period Amortization
|
|
|
$
|
639,393.15
|
|
Ending Period Required Amount
|
|
|
$
|
7,627,333.68
|
|
Ending Period Amount
|
|
|
$
|
7,627,333.68
|
|
Next Distribution Date Required Amount
|
|
|
$
|
7,015,521.70
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.25
|
%
|
Beginning Period Required Amount
|
|
|
$
|
3,838,274.35
|
|
Beginning Period Amount
|
|
|
$
|
3,838,274.35
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.25% of APB of cut-off date)
|
|
|
$
|
3,838,274.35
|
|
Ending Period Amount
|
|
|
$
|
3,838,274.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
3.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
46,059,292.24
|
|
|
$
|
46,059,292.24
|
|
|
$
|
46,059,292.24
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
3.00
|
%
|
|
3.00
|
%
|
|
3.00
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
10.33
|
%
|
|
10.90
|
%
|
|
10.90
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.32
|
%
|
|
37,613
|
|
|
|
97.44
|
%
|
$
|
419,014,988.81
|
|
30 - 60 Days
|
|
|
1.34
|
%
|
|
511
|
|
|
|
2.03
|
%
|
$
|
8,747,264.98
|
|
61 - 90 Days
|
|
|
0.30
|
%
|
|
116
|
|
|
|
0.45
|
%
|
$
|
1,954,596.64
|
|
91-120 Days
|
|
|
0.04
|
%
|
|
16
|
|
|
|
0.06
|
%
|
$
|
263,106.32
|
|
121 + Days
|
|
|
0.00
|
%
|
|
1
|
|
|
|
0.01
|
%
|
$
|
25,633.61
|
|
Total
|
|
|
38,257
|
|
|
|
|
|
|
$
|
430,005,590.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.68
|
%
|
|
644
|
|
|
|
2.56
|
%
|
$
|
10,990,601.55
|
|
1st Preceding Collection Period
|
|
|
1.62
|
%
|
|
631
|
|
|
|
2.40
|
%
|
$
|
10,898,081.49
|
|
2nd Preceding Collection Period
|
|
|
1.63
|
%
|
|
649
|
|
|
|
2.40
|
%
|
$
|
11,510,793.12
|
|
3rd Preceding Collection Period
|
|
|
1.62
|
%
|
|
656
|
|
|
|
2.38
|
%
|
$
|
12,001,914.56
|
|
Four-Month Average
|
|
|
1.64
|
%
|
|
|
|
|
|
|
2.43
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.52
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
33
|
|
|
|
|
|
|
$
|
646,784.58
|
|
Repossession Inventory
|
|
|
77
|
|
|
|
|
|
|
$
|
1,439,535.79
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
494,723.31
|
|
Recoveries
|
|
|
$
|
(295,638.38
|
)
|
Net Loss
|
|
|
$
|
199,084.93
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
0.53
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
442,093,855.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
0.54
|
%
|
1st Preceding Collection Period
|
|
|
|
0.56
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.28
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.68
|
%
|
Four-Month Average
|
|
|
|
0.51
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from
prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
31
|
|
|
|
1,390
|
|
|
$
|
27,520,103.29
|
|
Recoveries
|
|
|
30
|
|
|
|
1,071
|
|
|
$
|
(14,108,050.47
|
)
|
Net Loss
|
|
|
$
|
13,412,052.82
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.85
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
28
|
|
|
|
1,219
|
|
|
$
|
13,485,263.48
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
11,062.56
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
1,778,529.99
|
|
Number of Extensions
|
|
|
|
108
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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.
|