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
|
|
|
-
|
|
|
|
|
|
|
|
|
|
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
|
%
|