World Omni Auto Receivables Trust 2020-B

06/28/2024 | Press release | Distributed by Public on 06/28/2024 04:50

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2020-B
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 88,676,671.14 12,167
Yield Supplement Overcollateralization Amount 04/30/24 1,226,387.72 0
Receivables Balance 04/30/24 89,903,058.86 12,167
Principal Payments 7,200,033.64 272
Defaulted Receivables 38,113.29 3
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 05/31/24 1,067,157.12 0
Pool Balance at 05/31/24 81,597,754.81 11,892
Pool Statistics $ Amount # of Accounts
Pool Factor 9.23 %
Prepayment ABS Speed 1.12 %
Aggregate Starting Principal Balance 895,761,839.35 38,913
Delinquent Receivables:
Past Due 31-60 days 949,908.09 87
Past Due 61-90 days 218,151.20 21
Past Due 91-120 days 41,091.49 4
Past Due 121+ days 0.00 0
Total 1,209,150.78 112
Total 31+ Delinquent as % Aggregate Ending Principal Balance 1.46 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.31 %
Delinquency Trigger Occurred NO
Recoveries 79,553.15
Aggregate Net Losses/(Gains) - May 2024 (41,439.86 )
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio -0.55 %
Prior Net Losses/(Gains) Ratio 0.30 %
Second Prior Net Losses/(Gains) Ratio -0.31 %
Third Prior Net Losses/(Gains) Ratio 0.31 %
Four Month Average -0.06 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.23 %
Overcollateralization Target Amount 4,249,049.30
Actual Overcollateralization 81,597,754.81
Weighted Average Contract Rate 4.02 %
Weighted Average Contract Rate, Yield Adjusted 5.89 %
Weighted Average Remaining Term 17.83
Flow of Funds $ Amount
Collections 7,578,788.58
Investment Earnings on Cash Accounts 38,975.95
Reserve Fund Balance 8,498,098.59
Servicing Fee (74,919.22 )
Aggregate Purchase Amount 82,703,025.22
Transfer to Collection Account -
Available Funds 98,743,969.12
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 31,554.71
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 25,925.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 21,781.25
(7) Noteholders' Third Priority Principal Distributable Amount 2,829,867.03
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 81,597,754.81
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 14,237,086.32
Total Distributions of Available Funds 98,743,969.12
Servicing Fee 74,919.22
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 809,430,000.00
Original Class B 25,500,000.00
Original Class C 12,750,000.00
Total Class A, B, & C
Note Balance @ 05/15/24 84,427,621.84
Principal Paid 84,427,621.84
Note Balance @ 06/17/24 0.00
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-2a
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-2b
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 0.00
Principal Paid 0.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class A-4
Note Balance @ 05/15/24 46,177,621.84
Principal Paid 46,177,621.84
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class B
Note Balance @ 05/15/24 25,500,000.00
Principal Paid 25,500,000.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Class C
Note Balance @ 05/15/24 12,750,000.00
Principal Paid 12,750,000.00
Note Balance @ 06/17/24 0.00
Note Factor @ 06/17/24 0.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 79,260.96
Total Principal Paid 84,427,621.84
Total Paid 84,506,882.80
Class A-1
Coupon 0.26763 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2a
Coupon 0.55000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2a Holders 0.00
Class A-2b
One-Month Libor N/A
Coupon 0.25000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2b Holders 0.00
Class A-3
Coupon 0.63000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-3 Holders 0.00
Class A-4
Coupon 0.82000 %
Interest Paid 31,554.71
Principal Paid 46,177,621.84
Total Paid to A-4 Holders 46,209,176.55
Class B
Coupon 1.22000 %
Interest Paid 25,925.00
Principal Paid 25,500,000.00
Total Paid to B Holders 25,525,925.00
Class C
Coupon 2.05000 %
Interest Paid 21,781.25
Principal Paid 12,750,000.00
Total Paid to C Holders 12,771,781.25
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0935034
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 99.5984591
Total Distribution Amount 99.6919625
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-2a Interest Distribution Amount 0.0000000
A-2a Interest Carryover Shortfall 0.0000000
A-2a Principal Distribution Amount 0.0000000
Total A-2a Distribution Amount 0.0000000
A-2b Interest Distribution Amount 0.0000000
A-2b Interest Carryover Shortfall 0.0000000
A-2b Principal Distribution Amount 0.0000000
Total A-2b 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 0.4107082
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 601.0363379
Total A-4 Distribution Amount 601.4470461
B Interest Distribution Amount 1.0166667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 1,000.0000000
Total B Distribution Amount 1,001.0166667
C Interest Distribution Amount 1.7083333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 1,000.0000000
Total C Distribution Amount 1,001.7083333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 33.52
Noteholders' Principal Distributable Amount 966.48
Account Balances $ Amount
Reserve Account
Balance as of 05/15/24 8,498,098.59
Investment Earnings 37,857.08
Investment Earnings Paid (37,857.08 )
Deposit/(Withdrawal) (8,498,098.59 )
Balance as of 06/17/24 0.00
Change (8,498,098.59 )
Required Reserve Amount 0.00
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 298,872.25 $ 334,494.96 $ 295,457.48
Number of Extensions 27 30 24
Ratio of extensions to Beginning of Period Receivables Balance 0.33 % 0.34 % 0.28 %