World Omni Auto Receivables Trust 2021-C

09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:20

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2021-C
Monthly Servicer Certificate
August 31, 2024
Dates Covered
Collections Period 08/01/24 - 08/31/24
Interest Accrual Period 08/15/24 - 09/15/24
30/360 Days 30
Actual/360 Days 32
Distribution Date 09/16/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 07/31/24 260,220,678.65 20,810
Yield Supplement Overcollateralization Amount 07/31/24 3,056,104.26 0
Receivables Balance 07/31/24 263,276,782.91 20,810
Principal Payments 13,835,060.82 347
Defaulted Receivables 210,602.50 14
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 08/31/24 2,770,130.75 0
Pool Balance at 08/31/24 246,460,988.84 20,449
Pool Statistics $ Amount # of Accounts
Pool Factor 20.72 %
Prepayment ABS Speed 1.11 %
Aggregate Starting Principal Balance 1,202,898,752.29 49,569
Delinquent Receivables:
Past Due 31-60 days 5,282,482.99 284
Past Due 61-90 days 2,064,976.88 115
Past Due 91-120 days 291,456.91 16
Past Due 121+ days 0.00 0
Total 7,638,916.78 415
Total 31+ Delinquent as % Aggregate Ending Principal Balance 3.06 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.95 %
Delinquency Trigger Occurred NO
Recoveries 195,277.62
Aggregate Net Losses/(Gains) - August 2024 15,324.88
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.07 %
Prior Net Losses/(Gains) Ratio 0.32 %
Second Prior Net Losses/(Gains) Ratio 0.13 %
Third Prior Net Losses Ratio/(Gains) 0.08 %
Four Month Average 0.15 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.45 %
Overcollateralization Target Amount 5,849,148.06
Actual Overcollateralization 5,849,148.06
Weighted Average Contract Rate 4.05 %
Weighted Average Contract Rate, Yield Adjusted 5.19 %
Weighted Average Remaining Term 29.03
Flow of Funds $ Amount
Collections 14,930,988.78
Investment Earnings on Cash Accounts 17,767.34
Servicing Fee (219,397.32 )
Transfer to Collection Account -
Available Funds 14,729,358.80
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 90,673.23
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 24,563.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 15,502.50
(7) Noteholders' Third Priority Principal Distributable Amount 7,910,541.75
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,849,148.06
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 838,930.26
Total Distributions of Available Funds 14,729,358.80
Servicing Fee 219,397.32
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,114,250,000.00
Original Class B 35,090,000.00
Original Class C 17,550,000.00
Total Class A, B, & C
Note Balance @ 08/15/24 254,371,530.59
Principal Paid 13,759,689.81
Note Balance @ 09/16/24 240,611,840.78
Class A-1
Note Balance @ 08/15/24 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-2
Note Balance @ 08/15/24 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-3
Note Balance @ 08/15/24 101,501,530.59
Principal Paid 13,759,689.81
Note Balance @ 09/16/24 87,741,840.78
Note Factor @ 09/16/24 22.7894966 %
Class A-4
Note Balance @ 08/15/24 100,230,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 100,230,000.00
Note Factor @ 09/16/24 100.0000000 %
Class B
Note Balance @ 08/15/24 35,090,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 35,090,000.00
Note Factor @ 09/16/24 100.0000000 %
Class C
Note Balance @ 08/15/24 17,550,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 17,550,000.00
Note Factor @ 09/16/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 130,738.73
Total Principal Paid 13,759,689.81
Total Paid 13,890,428.54
Class A-1
Coupon 0.11273 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.22000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.44000 %
Interest Paid 37,217.23
Principal Paid 13,759,689.81
Total Paid to A-3 Holders 13,796,907.04
Class A-4
Coupon 0.64000 %
Interest Paid 53,456.00
Principal Paid 0.00
Total Paid to A-4 Holders 53,456.00
Class B
Coupon 0.84000 %
Interest Paid 24,563.00
Principal Paid 0.00
Total Paid to B Holders 24,563.00
Class C
Coupon 1.06000 %
Interest Paid 15,502.50
Principal Paid 0.00
Total Paid to C Holders 15,502.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1120403
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 11.7917626
Total Distribution Amount 11.9038029
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 0.0966656
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 35.7385258
Total A-3 Distribution Amount 35.8351914
A-4 Interest Distribution Amount 0.5333333
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5333333
B Interest Distribution Amount 0.7000000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7000000
C Interest Distribution Amount 0.8833333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 0.8833333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 574.91
Noteholders' Principal Distributable Amount 425.09
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 2,924,574.03
Investment Earnings 13,087.86
Investment Earnings Paid (13,087.86 )
Deposit/(Withdrawal) -
Balance as of 09/16/24 2,924,574.03
Change -
Required Reserve Amount 2,924,574.03
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,760,025.64 $ 1,917,237.45 $ 1,682,043.18
Number of Extensions 103 114 97
Ratio of extensions to Beginning of Period Receivables Balance 0.67 % 0.69 % 0.58 %