Capital One Prime Auto Receivables Trust 2021-1
07/15/2024 | Press release | Distributed by Public on 07/15/2024 09:51
Asset Backed Issuer Distribution Report Form 10 D
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2021-1
Statement to Securityholders
Determination Date: July 10, 2024
| Payment Date | 7/15/2024 |
| Collection Period Start | 6/1/2024 |
| Collection Period End | 6/30/2024 |
| Interest Period Start | 6/17/2024 |
| Interest Period End | 7/14/2024 |
| Cut-Off Date Net Pool Balance | $ | 1,356,483,994.50 |
| Cut-Off Date Adjusted Pool Balance | $ | 1,356,483,994.50 |
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | ||||
| Class A-1 Notes | $ | - | $ | - | $ | - | - | Nov-22 |
| Class A-2 Notes | $ | - | $ | - | $ | - | - | Feb-25 |
| Class A-3 Notes | $ | 210,159,293.93 | $ | 19,482,591.52 | $ | 190,676,702.41 | 0.409002 | Sep-26 |
| Class A-4 Notes | $ | 105,390,000.00 | $ | - | $ | 105,390,000.00 | 1.000000 | Apr-27 |
| Class B Notes | $ | 13,565,000.00 | $ | - | $ | 13,565,000.00 | 1.000000 | Apr-27 |
| Class C Notes | $ | 13,564,000.00 | $ | - | $ | 13,564,000.00 | 1.000000 | May-27 |
| Class D Notes | $ | 13,564,000.00 | $ | - | $ | 13,564,000.00 | 1.000000 | Mar-28 |
| Total Notes | $ | 356,242,293.93 | $ | 19,482,591.52 | $ | 336,759,702.41 |
| Beginning Balance | Ending Balance | Pool Factor | |||
| Net Pool Balance | $ | 359,633,503.92 | $ | 340,150,912.40 | 0.250759 |
| YSOC Amount | N/A | N/A | |||
| Adjusted Pool Balance | $ | 359,633,503.92 | $ | 340,150,912.40 | |
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 3,391,209.99 | $ | 3,391,209.99 | |
| Reserve Account Balance | $ | 3,391,209.99 | $ | 3,391,209.99 |
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | |||
| Class A-1 Notes | $ | - | 0.13428% | ACT/360 | $ | - |
| Class A-2 Notes | $ | - | 0.32000% | 30/360 | $ | - |
| Class A-3 Notes | $ | 210,159,293.93 | 0.77000% | 30/360 | $ | 134,852.21 |
| Class A-4 Notes | $ | 105,390,000.00 | 1.04000% | 30/360 | $ | 91,338.00 |
| Class B Notes | $ | 13,565,000.00 | 1.29000% | 30/360 | $ | 14,582.38 |
| Class C Notes | $ | 13,564,000.00 | 1.43000% | 30/360 | $ | 16,163.77 |
| Class D Notes | $ | 13,564,000.00 | 1.68000% | 30/360 | $ | 18,989.60 |
| Total Notes | $ | 356,242,293.93 | $ | 275,925.96 |
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||
| Net Pool Balance | $ | 359,633,503.92 | $ | 340,150,912.40 |
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 359,633,503.92 | $ | 340,150,912.40 |
| Number of Receivables Outstanding | 37,099 | 36,241 | ||
| Weighted Average Contract Rate | 3.86 | % | 3.86 | % |
| Weighted Average Remaining Term (months) | 29.6 | 28.7 |
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | ||
| a. Collections | ||
| Interest Collections | $ | 1,128,704.76 |
| Principal Collections | $ | 19,368,071.63 |
| Liquidation Proceeds | $ | 82,442.90 |
| b. Repurchase Price | $ | - |
| c. Optional Purchase Price | $ | - |
| d. Reserve Account Excess Amount | $ | - |
| Total Available Funds | $ | 20,579,219.29 |
| Reserve Account Draw Amount | $ | - |
| Total Funds Available for Distribution | $ | 20,579,219.29 |
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Servicing Fee | $ | 299,694.59 | $ | 299,694.59 | $ | - | $ | - | $ | 20,279,524.70 |
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 20,279,524.70 |
| Interest - Class A-2 Notes | $ | - | $ | - | $ | - | $ | - | $ | 20,279,524.70 |
| Interest - Class A-3 Notes | $ | 134,852.21 | $ | 134,852.21 | $ | - | $ | - | $ | 20,144,672.49 |
| Interest - Class A-4 Notes | $ | 91,338.00 | $ | 91,338.00 | $ | - | $ | - | $ | 20,053,334.49 |
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 20,053,334.49 |
| Interest - Class B Notes | $ | 14,582.38 | $ | 14,582.38 | $ | - | $ | - | $ | 20,038,752.11 |
| Second Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 20,038,752.11 |
| Interest - Class C Notes | $ | 16,163.77 | $ | 16,163.77 | $ | - | $ | - | $ | 20,022,588.34 |
| Third Allocation of Principal | $ | 2,527,381.53 | $ | 2,527,381.53 | $ | - | $ | - | $ | 17,495,206.81 |
| Interest - Class D Notes | $ | 18,989.60 | $ | 18,989.60 | $ | - | $ | - | $ | 17,476,217.21 |
| Fourth Allocation of Principal | $ | 13,564,000.00 | $ | 13,564,000.00 | $ | - | $ | - | $ | 3,912,217.21 |
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 3,912,217.21 |
| Regular Principal Distribution Amount | $ | 3,391,209.99 | $ | 3,391,209.99 | $ | - | $ | - | $ | 521,007.22 |
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 521,007.22 |
| Remaining Funds to Certificates | $ | 521,007.22 | $ | 521,007.22 | $ | - | $ | - | $ | - |
| Total | $ | 20,579,219.29 | $ | 20,579,219.29 | $ | - | $ | - |
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |
| Beginning Period YSOC Amount | N/A |
| Increase/(Decrease) | N/A |
| Ending YSOC Amount | N/A |
| Overcollateralization: | Beginning of Period | End of Period | ||
| Adjusted Pool Balance | $ | 359,633,503.92 | $ | 340,150,912.40 |
| Note Balance | $ | 356,242,293.93 | $ | 336,759,702.41 |
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 3,391,209.99 | $ | 3,391,209.99 |
| Target Overcollateralization Amount | $ | 3,391,209.99 | $ | 3,391,209.99 |
| Overcollateralization Shortfall | $ | - | $ | - |
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 3,391,209.99 |
| Beginning Reserve Account Balance | $ | 3,391,209.99 |
| Reserve Account Deposit Amount | $ | - |
| Reserve Account Draw Amount | $ | - |
| Reserve Account Excess Amount | $ | - |
| Ending Reserve Account Balance | $ | 3,391,209.99 |
VII. NET LOSS AND DELINQUENT RECEIVABLES
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | |
| Defaulted Receivables during Collection Period (Principal Balance) | 0.03% | 12 | $ | 114,519.89 |
|
Liquidation Proceeds of Defaulted Receivables1
|
0.02% | 87 | $ | 82,442.90 |
| Monthly Net Losses (Liquidation Proceeds) | $ | 32,076.99 | ||
| Net Losses as % of Average Pool Balance (annualized) | ||||
| Third Preceding Collection Period | 0.32 | % | ||
| Second Preceding Collection Period | 0.07 | % | ||
| Preceding Collection Period | 0.20 | % | ||
| Current Collection Period | 0.11 | % | ||
| Four-Month Average Net Loss Ratio | 0.17 | % | ||
| Cumulative Net Losses for All Periods | $ | 2,227,682.88 | ||
| Cumulative Net Loss Ratio | 0.16 | % | ||
|
1 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off.
|
||||
| Delinquent Receivables: | % of EOP Net Pool Balance | # of Receivables | Principal Balance | |
| 30-59 Days Delinquent | 0.35% | 94 | $ | 1,198,849.30 |
| 60-89 Days Delinquent | 0.20% | 58 | $ | 679,959.80 |
| 90-119 Days Delinquent | 0.05% | 11 | $ | 153,963.80 |
| 120+ Days Delinquent | 0.00% | 0 | $ | - |
| Total Delinquent Receivables | 0.60% | 163 | $ | 2,032,772.90 |
| Repossession Inventory: | # of Receivables | Principal Balance | ||
| Repossessed in the Current Collection Period | 4 | $ | 43,867.20 | |
| Total Repossessed Inventory | 7 | $ | 112,567.52 | |
| 60+ Delinquency Percentage: | # of Receivables | Amount | ||
| 60+ Day Delinquent Receivables | 69 | $ | 833,923.60 | |
| 60+ Delinquencies as % of EOP Net Pool Balance | ||||
| Third Preceding Collection Period | 0.15 | % | ||
| Second Preceding Collection Period | 0.18 | % | ||
| Preceding Collection Period | 0.18 | % | ||
| Current Collection Period | 0.25 | % | ||
| Delinquency Trigger | 4.50 | % | ||
| Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No) | No |
VIII. TEMPORARY FORBEARANCE
The table below presents accounts which received a short-term payment extension in the month of June 2024.
| Month-End Balance | # of Receivables | |||
| ($MM) | (%) | (#) | (%) | |
| Total Extensions | 0.28 | 0.08% | 22 | 0.06% |