Hyundai Auto Receivables Trust 2022-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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20
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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, 2022
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Closing Date:
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November 9, 2022
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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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1,706,688,347.89
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73,607
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3.85
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%
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56.52
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Original Adj. Pool Balance:
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$
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1,523,088,772.73
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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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286,000,000.00
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16.758
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%
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4.45000
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%
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November 15, 2023
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Class A-2-A Notes
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Fixed
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$
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437,400,000.00
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25.629
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%
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5.35000
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%
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November 17, 2025
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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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5.859
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%
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SOFR + 0.78
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%
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November 17, 2025
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Class A-3 Notes
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Fixed
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$
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487,400,000.00
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28.558
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%
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5.39000
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%
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June 15, 2027
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Class A-4 Notes
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Fixed
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$
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101,100,000.00
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5.924
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%
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5.52000
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%
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October 16, 2028
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Class B Notes
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Fixed
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$
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27,420,000.00
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1.607
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%
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6.06000
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%
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October 16, 2028
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Class C Notes
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Fixed
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$
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45,670,000.00
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2.676
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%
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6.23000
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%
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June 15, 2029
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Total Securities
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$
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1,484,990,000.00
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87.010
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%
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Overcollateralization
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$
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38,098,772.73
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2.232
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%
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YSOA
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$
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183,599,575.16
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10.758
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%
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Total Original Pool Balance
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$
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1,706,688,347.89
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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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64,534,797.70
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0.1475418
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$
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38,634,590.00
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0.0883278
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$
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25,900,207.70
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Class A-2-B Notes
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$
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14,754,183.29
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0.1475418
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$
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8,832,782.35
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0.0883278
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$
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5,921,400.94
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Class A-3 Notes
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$
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487,400,000.00
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1.0000000
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$
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487,400,000.00
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1.0000000
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$
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-
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Class A-4 Notes
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$
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101,100,000.00
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1.0000000
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$
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101,100,000.00
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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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27,420,000.00
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1.0000000
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$
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27,420,000.00
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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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45,670,000.00
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1.0000000
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$
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45,670,000.00
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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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740,878,980.99
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0.4989118
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$
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709,057,372.35
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0.4774829
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$
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31,821,608.64
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Weighted Avg. Coupon (WAC)
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3.95
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%
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3.96
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%
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Weighted Avg. Remaining Maturity (WARM)
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38.26
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37.39
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Pool Receivables Balance
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$
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863,302,206.52
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$
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827,380,593.57
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Remaining Number of Receivables
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56,129
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55,118
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Adjusted Pool Balance
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$
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782,763,922.24
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$
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750,942,313.60
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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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35,091,379.14
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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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421,820.16
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Total Principal Collections
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$
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35,513,199.30
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Interest:
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Interest Collections
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$
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2,810,957.29
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Late Fees & Other Charges
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$
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50,937.05
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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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2,861,894.34
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Collection Account Interest
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$
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151,385.84
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Reserve Account Interest
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$
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32,402.36
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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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38,558,881.84
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IV. DISTRIBUTIONS
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Total Collections
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$
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38,558,881.84
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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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38,558,881.84
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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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719,418.51
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$
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-
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$
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719,418.51
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719,418.51
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Collection & Reserve Account Interest
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$
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183,788.20
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Late Fees & Other Charges
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$
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50,937.05
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Total due to Servicer
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$
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954,143.76
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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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287,717.64
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$
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287,717.64
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Class A-2-B Notes
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$
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70,149.93
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$
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70,149.93
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Class A-3 Notes
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$
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2,189,238.33
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$
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2,189,238.33
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Class A-4 Notes
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$
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465,060.00
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$
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465,060.00
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Total Class A interest:
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$
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3,012,165.90
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$
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3,012,165.90
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3,012,165.90
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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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138,471.00
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$
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138,471.00
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138,471.00
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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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237,103.42
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$
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237,103.42
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237,103.42
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Available Funds Remaining:
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$
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34,216,997.76
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7. Regular Principal Distribution Amount:
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31,821,608.64
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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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$
|
25,900,207.70
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Class A-2-B Notes
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$
|
5,921,400.94
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Class A-3 Notes
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|
$
|
-
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Class A-4 Notes
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$
|
-
|
|
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|
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|
Class A Notes Total:
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$
|
31,821,608.64
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$
|
31,821,608.64
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|
|
|
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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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|
|
|
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Total Noteholders Principal
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$
|
31,821,608.64
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$
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31,821,608.64
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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
|
|
|
2,395,389.12
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V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
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|
|
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|
|
|
|
|
Beginning Period Required Amount
|
|
$
|
80,538,284.28
|
|
Beginning Period Amount
|
|
$
|
80,538,284.28
|
|
Current Period Amortization
|
|
$
|
4,100,004.31
|
|
Ending Period Required Amount
|
|
$
|
76,438,279.97
|
|
Ending Period Amount
|
|
$
|
76,438,279.97
|
|
Next Distribution Date Required Amount
|
|
$
|
72,447,496.48
|
|
VI. RESERVE ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve Percentage of Initial Adjusted Pool Balance
|
|
|
|
0.50
|
%
|
Beginning Period Required Amount
|
|
|
$
|
7,615,443.86
|
|
Beginning Period Amount
|
|
|
$
|
7,615,443.86
|
|
Current Period Release to Collection Account
|
|
|
$
|
-
|
|
Current Period Deposit
|
|
|
$
|
-
|
|
Current Period Release to Depositor
|
|
|
$
|
-
|
|
Ending Period Required Amount (0.50% of APB of cut-off date)
|
|
|
$
|
7,615,443.86
|
|
Ending Period Amount
|
|
|
$
|
7,615,443.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VII. OVERCOLLATERALIZATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Target
|
|
|
2.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overcollateralization Floor
|
|
|
2.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning
|
|
|
Ending
|
|
|
Target
|
|
Overcollateralization Amount
|
|
|
$
|
41,884,941.25
|
|
|
$
|
41,884,941.25
|
|
|
$
|
41,884,941.25
|
|
Overcollateralization as a % of Original Adjusted Pool
|
|
|
2.75
|
%
|
|
2.75
|
%
|
|
2.75
|
%
|
Overcollateralization as a % of Current Adjusted Pool
|
|
|
5.35
|
%
|
|
5.58
|
%
|
|
5.58
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
VIII. DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables
|
|
|
Units Percent
|
|
|
Units
|
|
|
Dollars Percent
|
|
|
Amount
|
|
Current
|
|
|
98.79
|
%
|
|
54,450
|
|
|
|
98.21
|
%
|
$
|
812,534,691.57
|
|
30 - 60 Days
|
|
|
0.91
|
%
|
|
500
|
|
|
|
1.32
|
%
|
$
|
10,956,978.35
|
|
61 - 90 Days
|
|
|
0.26
|
%
|
|
141
|
|
|
|
0.39
|
%
|
$
|
3,226,676.73
|
|
91-120 Days
|
|
|
0.05
|
%
|
|
27
|
|
|
|
0.08
|
%
|
$
|
662,246.92
|
|
121 + Days
|
|
|
0.00
|
%
|
|
0
|
|
|
|
0.00
|
%
|
$
|
-
|
|
Total
|
|
|
55,118
|
|
|
|
|
|
|
$
|
827,380,593.57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent Receivables 30+ Days Past Due
|
Current Period
|
|
|
1.21
|
%
|
|
668
|
|
|
|
1.79
|
%
|
$
|
14,845,902.00
|
|
1st Preceding Collection Period
|
|
|
1.13
|
%
|
|
633
|
|
|
|
1.62
|
%
|
$
|
13,975,825.41
|
|
2nd Preceding Collection Period
|
|
|
1.01
|
%
|
|
575
|
|
|
|
1.47
|
%
|
$
|
13,232,375.14
|
|
3rd Preceding Collection Period
|
|
|
1.03
|
%
|
|
598
|
|
|
|
1.50
|
%
|
$
|
14,042,993.13
|
|
Four-Month Average
|
|
|
1.09
|
%
|
|
|
|
|
|
|
1.59
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of 61+ Delinquency Receivables Balance to EOP Pool Balance
|
|
|
0.47
|
%
|
|
|
|
Delinquency Percentage exceeds Delinquency Trigger of 9.6% (Y/N)
|
|
|
No
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repossession in Current Period
|
|
|
39
|
|
|
|
|
|
|
$
|
952,330.85
|
|
Repossession Inventory
|
|
|
77
|
|
|
|
|
|
|
$
|
1,975,906.30
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Charge-Offs
|
Gross Principal of Charge-Offs
|
|
|
$
|
830,233.81
|
|
Recoveries
|
|
|
$
|
(421,820.16
|
)
|
Net Loss
|
|
|
$
|
408,413.65
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Beginning Pool Balance (annualized)
|
|
|
|
0.57
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Pool Balance for Current Period
|
|
|
$
|
845,341,400.04
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Current Net Loss to Average Pool Balance (annualized)
|
Current Period
|
|
|
|
0.58
|
%
|
1st Preceding Collection Period
|
|
|
|
0.50
|
%
|
2nd Preceding Collection Period
|
|
|
|
0.93
|
%
|
3rd Preceding Collection Period
|
|
|
|
0.98
|
%
|
Four-Month Average
|
|
|
|
0.75
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cumulative Charge-Offs
|
|
|
Change in units from prior period
|
|
|
Cumulative Units
|
|
|
Cumulative Amount
|
|
Gross Principal of Charge-Offs
|
|
|
44
|
|
|
|
816
|
|
|
$
|
17,803,781.54
|
|
Recoveries
|
|
|
34
|
|
|
|
567
|
|
|
$
|
(7,328,732.42
|
)
|
Net Loss
|
|
|
$
|
10,475,049.12
|
|
Cumulative Net Loss as a % of Initial Pool Balance
|
|
|
|
0.61
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss for Receivables that have experienced a Net Loss *
|
|
|
38
|
|
|
|
738
|
|
|
$
|
10,475,049.12
|
|
Average Net Loss for Receivables that have experienced a Net Loss
|
|
|
$
|
14,193.83
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Balance of Extensions
|
|
|
$
|
3,148,975.48
|
|
Number of Extensions
|
|
|
|
145
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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.
|