World Omni Auto Receivables Trust 2021-B

06/28/2024 | Press release | Distributed by Public on 06/28/2024 04:57

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2021-B
Monthly Servicer Certificate
May 31, 2024
Dates Covered
Collections Period 05/01/24 - 05/31/24
Interest Accrual Period 05/15/24 - 06/16/24
30/360 Days 30
Actual/360 Days 33
Distribution Date 06/17/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 04/30/24 255,344,465.38 20,473
Yield Supplement Overcollateralization Amount 04/30/24 4,145,665.02 0
Receivables Balance 04/30/24 259,490,130.40 20,473
Principal Payments 13,999,466.17 390
Defaulted Receivables 263,808.82 15
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 05/31/24 3,767,356.69 0
Pool Balance at 05/31/24 241,459,498.72 20,068
Pool Statistics $ Amount # of Accounts
Pool Factor 22.23 %
Prepayment ABS Speed 1.18 %
Aggregate Starting Principal Balance 1,102,919,763.19 38,162
Delinquent Receivables:
Past Due 31-60 days 4,590,869.21 265
Past Due 61-90 days 1,229,739.78 69
Past Due 91-120 days 183,328.60 11
Past Due 121+ days 0.00 0
Total 6,003,937.59 345
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.45 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.58 %
Delinquency Trigger Occurred NO
Recoveries 219,496.53
Aggregate Net Losses/(Gains) - May 2024 44,312.29
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.20 %
Prior Net Losses/(Gains) Ratio 0.33 %
Second Prior Net Losses/(Gains) Ratio 0.43 %
Third Prior Net Losses/(Gains) Ratio 0.02 %
Four Month Average 0.25 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.39 %
Overcollateralization Target Amount 5,319,305.21
Actual Overcollateralization 5,319,305.21
Weighted Average Contract Rate 4.01 %
Weighted Average Contract Rate, Yield Adjusted 5.49 %
Weighted Average Remaining Term 28.54
Flow of Funds $ Amount
Collections 15,081,073.79
Investment Earnings on Cash Accounts 16,256.66
Servicing Fee (216,241.78 )
Transfer to Collection Account -
Available Funds 14,881,088.67
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 92,497.06
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 27,664.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 17,157.00
(7) Noteholders' Third Priority Principal Distributable Amount 8,565,661.45
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,319,305.21
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 858,803.95
Total Distributions of Available Funds 14,881,088.67
Servicing Fee 216,241.78
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,013,320,000.00
Original Class B 31,920,000.00
Original Class C 15,960,000.00
Total Class A, B, & C
Note Balance @ 05/15/24 250,025,160.17
Principal Paid 13,884,966.66
Note Balance @ 06/17/24 236,140,193.51
Class A-1
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-2
Note Balance @ 05/15/24 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-3
Note Balance @ 05/15/24 105,495,160.17
Principal Paid 13,884,966.66
Note Balance @ 06/17/24 91,610,193.51
Note Factor @ 06/17/24 24.8886637 %
Class A-4
Note Balance @ 05/15/24 96,650,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 96,650,000.00
Note Factor @ 06/17/24 100.0000000 %
Class B
Note Balance @ 05/15/24 31,920,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 31,920,000.00
Note Factor @ 06/17/24 100.0000000 %
Class C
Note Balance @ 05/15/24 15,960,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 15,960,000.00
Note Factor @ 06/17/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 137,318.06
Total Principal Paid 13,884,966.66
Total Paid 14,022,284.72
Class A-1
Coupon 0.11025 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.20000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.42000 %
Interest Paid 36,923.31
Principal Paid 13,884,966.66
Total Paid to A-3 Holders 13,921,889.97
Class A-4
Coupon 0.69000 %
Interest Paid 55,573.75
Principal Paid 0.00
Total Paid to A-4 Holders 55,573.75
Class B
Coupon 1.04000 %
Interest Paid 27,664.00
Principal Paid 0.00
Total Paid to B Holders 27,664.00
Class C
Coupon 1.29000 %
Interest Paid 17,157.00
Principal Paid 0.00
Total Paid to C Holders 17,157.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1293989
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 13.0842128
Total Distribution Amount 13.2136117
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 0.1003133
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 37.7226871
Total A-3 Distribution Amount 37.8230004
A-4 Interest Distribution Amount 0.5750000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5750000
B Interest Distribution Amount 0.8666667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.8666667
C Interest Distribution Amount 1.0750000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.0750000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 616.90
Noteholders' Principal Distributable Amount 383.10
Account Balances $ Amount
Reserve Account
Balance as of 05/15/24 2,659,652.60
Investment Earnings 11,883.13
Investment Earnings Paid (11,883.13 )
Deposit/(Withdrawal) -
Balance as of 06/17/24 2,659,652.60
Change -
Required Reserve Amount 2,659,652.60
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,446,137.37 $ 1,483,039.20 $ 1,788,310.76
Number of Extensions 91 90 102
Ratio of extensions to Beginning of Period Receivables Balance 0.56 % 0.54 % 0.62 %