World Omni Auto Receivables Trust 2021-C

06/28/2024 | Press release | Distributed by Public on 06/28/2024 05:01

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2021-C
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 04/30/24 303,531,679.45 21,878
Yield Supplement Overcollateralization Amount 04/30/24 4,041,340.70 0
Receivables Balance 04/30/24 307,573,020.15 21,878
Principal Payments 14,884,037.88 337
Defaulted Receivables 278,786.05 15
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 05/31/24 3,693,986.06 0
Pool Balance at 05/31/24 288,716,210.16 21,526
Pool Statistics $ Amount # of Accounts
Pool Factor 24.31 %
Prepayment ABS Speed 1.10 %
Aggregate Starting Principal Balance 1,202,898,752.29 49,569
Delinquent Receivables:
Past Due 31-60 days 5,913,859.03 308
Past Due 61-90 days 1,482,494.23 76
Past Due 91-120 days 270,454.99 16
Past Due 121+ days 0.00 0
Total 7,666,808.25 400
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.62 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.60 %
Delinquency Trigger Occurred NO
Recoveries 259,091.43
Aggregate Net Losses/(Gains) - May 2024 19,694.62
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.08 %
Prior Net Losses/(Gains) Ratio 0.01 %
Second Prior Net Losses/(Gains) Ratio -0.29 %
Third Prior Net Losses Ratio/(Gains) 0.49 %
Four Month Average 0.07 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.44 %
Overcollateralization Target Amount 5,849,148.06
Actual Overcollateralization 5,849,148.06
Weighted Average Contract Rate 3.97 %
Weighted Average Contract Rate, Yield Adjusted 5.16 %
Weighted Average Remaining Term 31.50
Flow of Funds $ Amount
Collections 16,157,241.49
Investment Earnings on Cash Accounts 17,931.79
Servicing Fee (256,310.85 )
Transfer to Collection Account -
Available Funds 15,918,862.43
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 106,553.93
(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 8,966,321.23
(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 956,773.71
Total Distributions of Available Funds 15,918,862.43
Servicing Fee 256,310.85
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 @ 05/15/24 297,682,531.39
Principal Paid 14,815,469.29
Note Balance @ 06/17/24 282,867,062.10
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 @ 05/15/24 144,812,531.39
Principal Paid 14,815,469.29
Note Balance @ 06/17/24 129,997,062.10
Note Factor @ 06/17/24 33.7645937 %
Class A-4
Note Balance @ 05/15/24 100,230,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 100,230,000.00
Note Factor @ 06/17/24 100.0000000 %
Class B
Note Balance @ 05/15/24 35,090,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 35,090,000.00
Note Factor @ 06/17/24 100.0000000 %
Class C
Note Balance @ 05/15/24 17,550,000.00
Principal Paid 0.00
Note Balance @ 06/17/24 17,550,000.00
Note Factor @ 06/17/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 146,619.43
Total Principal Paid 14,815,469.29
Total Paid 14,962,088.72
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 53,097.93
Principal Paid 14,815,469.29
Total Paid to A-3 Holders 14,868,567.22
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 0.1256497
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 12.6965432
Total Distribution Amount 12.8221929
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 0.1379131
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 38.4807389
Total A-3 Distribution Amount 38.6186520
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 605.20
Noteholders' Principal Distributable Amount 394.80
Account Balances $ Amount
Reserve Account
Balance as of 05/15/24 2,924,574.03
Investment Earnings 13,066.78
Investment Earnings Paid (13,066.78 )
Deposit/(Withdrawal) -
Balance as of 06/17/24 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 $ 1,926,315.45 $ 1,710,038.97 $ 1,592,669.05
Number of Extensions 102 85 80
Ratio of extensions to Beginning of Period Receivables Balance 0.63 % 0.53 % 0.47 %