World Omni Auto Receivables Trust 2020-C

09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:13

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2020-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 07/31/24 143,777,559.24 17,657
Yield Supplement Overcollateralization Amount 07/31/24 1,704,230.37 0
Receivables Balance 07/31/24 145,481,789.61 17,657
Principal Payments 10,629,993.72 371
Defaulted Receivables 123,220.57 11
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 08/31/24 1,494,921.01 0
Pool Balance at 08/31/24 133,233,654.31 17,275
Pool Statistics $ Amount # of Accounts
Pool Factor 10.22 %
Prepayment ABS Speed 1.13 %
Aggregate Starting Principal Balance 1,318,405,815.29 46,124
Delinquent Receivables:
Past Due 31-60 days 2,097,740.83 170
Past Due 61-90 days 805,407.99 59
Past Due 91-120 days 82,046.70 10
Past Due 121+ days 0.00 0
Total 2,985,195.52 239
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.22 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.66 %
Delinquency Trigger Occurred NO
Recoveries 159,897.89
Aggregate Net Losses/(Gains) - August 2024 (36,677.32 )
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio -0.30 %
Prior Net Losses/(Gains) Ratio -0.25 %
Second Prior Net Losses/(Gains) Ratio 0.24 %
Third Prior Net Losses/(Gains) Ratio -0.12 %
Four Month Average -0.11 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.32 %
Overcollateralization Target Amount 6,324,057.64
Actual Overcollateralization 6,324,057.64
Weighted Average Contract Rate 4.23 %
Weighted Average Contract Rate, Yield Adjusted 5.74 %
Weighted Average Remaining Term 19.44
Flow of Funds $ Amount
Collections 11,307,820.34
Investment Earnings on Cash Accounts 57,801.45
Servicing Fee (121,234.82 )
Transfer to Collection Account -
Available Funds 11,244,386.97
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) 0.00
(2) Class A Interest 41,064.95
(3) Noteholders' First Priority Principal Distributable Amount 0.00
(4) Class B Interest 27,383.25
(5) Noteholders' Second Priority Principal Distributable Amount 0.00
(6) Class C Interest 21,892.50
(7) Noteholders' Third Priority Principal Distributable Amount 4,219,847.29
(8) Required Reserve Account 0.00
(9) Noteholders' Principal Distributable Amount 6,324,057.64
(10) Asset Representation Reviewer Amounts (in excess of 1) 0.00
(11) Distribution to Certificateholders 610,141.34
Total Distributions of Available Funds 11,244,386.97
Servicing Fee 121,234.82
Unpaid Servicing Fee 0.00
Change in amount of the unpaid servicing fee from the prior period 0.00
Note Balances & Note Factors $ Amount
Original Class A 1,199,070,000.00
Original Class B 37,770,000.00
Original Class C 18,900,000.00
Total Class A, B, & C
Note Balance @ 08/15/24 137,453,501.60
Principal Paid 10,543,904.93
Note Balance @ 09/16/24 126,909,596.67
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 0.00
Principal Paid 0.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class A-4
Note Balance @ 08/15/24 80,783,501.60
Principal Paid 10,543,904.93
Note Balance @ 09/16/24 70,239,596.67
Note Factor @ 09/16/24 67.1378290 %
Class B
Note Balance @ 08/15/24 37,770,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 37,770,000.00
Note Factor @ 09/16/24 100.0000000 %
Class C
Note Balance @ 08/15/24 18,900,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 18,900,000.00
Note Factor @ 09/16/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 90,340.70
Total Principal Paid 10,543,904.93
Total Paid 10,634,245.63
Class A-1
Coupon 0.20684 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.35000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.48000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-3 Holders 0.00
Class A-4
Coupon 0.61000 %
Interest Paid 41,064.95
Principal Paid 10,543,904.93
Total Paid to A-4 Holders 10,584,969.88
Class B
Coupon 0.87000 %
Interest Paid 27,383.25
Principal Paid 0.00
Total Paid to B Holders 27,383.25
Class C
Coupon 1.39000 %
Interest Paid 21,892.50
Principal Paid 0.00
Total Paid to C Holders 21,892.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0719422
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 8.3965669
Total Distribution Amount 8.4685091
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 0.0000000
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 0.0000000
Total A-3 Distribution Amount 0.0000000
A-4 Interest Distribution Amount 0.3925153
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 100.7828802
Total A-4 Distribution Amount 101.1753955
B Interest Distribution Amount 0.7250000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.7250000
C Interest Distribution Amount 1.1583333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.1583333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 400.22
Noteholders' Principal Distributable Amount 599.78
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 12,588,844.52
Investment Earnings 56,040.71
Investment Earnings Paid (56,040.71 )
Deposit/(Withdrawal) -
Balance as of 09/16/24 12,588,844.52
Change -
Required Reserve Amount 12,588,844.52
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 676,161.34 $ 1,005,957.72 $ 926,717.21
Number of Extensions 62 86 70
Ratio of extensions to Beginning of Period Receivables Balance 0.46 % 0.64 % 0.55 %