World Omni Select Auto Trust 2020 A

09/27/2024 | Press release | Distributed by Public on 09/27/2024 06:01

Asset Backed Issuer Distribution Report Form 10 D

World Omni Select Auto Trust 2020-A
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 91,187,280.60 9,308
Principal Payments 5,156,367.00 165
Defaulted Receivables 412,804.62 34
Repurchased Accounts 0.00 0
Pool Balance at 08/31/24 85,618,108.98 9,109
Pool Statistics $ Amount # of Accounts
Pool Factor 9.89 %
Prepayment ABS Speed 0.96 %
Aggregate Starting Principal Balance 865,949,696.84 33,461
Delinquent Receivables:
Past Due 31-60 days 7,589,907.82 650
Past Due 61-90 days 2,689,390.96 220
Past Due 91-120 days 301,115.53 25
Past Due 121+ days 0.00 0
Total 10,580,414.31 895
Total 31+ Delinquent as % Ending Pool Balance 12.36 %
Total 61+ Delinquent as % Ending Pool Balance 3.49 %
Delinquency Trigger Occurred NO
Recoveries 326,338.98
Aggregate Net Losses/(Gains) - August 2024 86,465.64
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 1.14 %
Prior Net Losses/(Gains) Ratio 0.63 %
Second Prior Net Losses/(Gains) Ratio 0.30 %
Third Prior Net Losses/(Gains) Ratio -0.04 %
Four Month Average 0.51 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 1.75 %
Overcollateralization Target Amount 17,318,993.94
Actual Overcollateralization 85,618,108.98
Weighted Average Contract Rate 8.42 %
Weighted Average Remaining Term 21.46
Flow of Funds $ Amount
Collections 6,126,937.21
Investment Earnings on Cash Accounts 58,787.59
Reserve Fund Balance 12,989,245.45
Servicing Fee (94,986.75 )
Aggregate Purchase Amount 86,030,913.60
Transfer to Collection Account -
Available Funds 105,110,897.10
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest -
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest -
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 17,425.30
(7) Noteholders' Third Priority Principal Distributable Amount -
(8) Class D Interest 53,351.67
(9) Noteholders' Fourth Priority Principal Distributable Amount -
(10) Class E Interest -
(11) Noteholders' Fifth Priority Principal Distributable Amount -
(12) Required Reserve Account -
(13) Noteholders' Principal Distributable Amount 73,868,286.66
(14) Asset Representation Reviewer Amounts (in excess of 1) -
(15) Distribution to Certificateholders 31,171,833.47
Total Distributions of Available Funds 105,110,897.10
Servicing Fee 94,986.75
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 630,400,000.00
Original Class B 69,260,000.00
Original Class C 44,170,000.00
Original Class D 37,660,000.00
Original Class E 19,480,000.00
Total Class A, B, C, D & E
Note Balance @ 08/15/24 73,868,286.66
Principal Paid 73,868,286.66
Note Balance @ 09/16/24 0.00
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 B
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 C
Note Balance @ 08/15/24 16,728,286.66
Principal Paid 16,728,286.66
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class D
Note Balance @ 08/15/24 37,660,000.00
Principal Paid 37,660,000.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Class E
Note Balance @ 08/15/24 19,480,000.00
Principal Paid 19,480,000.00
Note Balance @ 09/16/24 0.00
Note Factor @ 09/16/24 0.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 70,776.97
Total Principal Paid 73,868,286.66
Total Paid 73,939,063.63
Class A-1
Coupon 0.20633 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.47000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.55000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-3 Holders 0.00
Class B
Coupon 0.84000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to B Holders 0.00
Class C
Coupon 1.25000 %
Interest Paid 17,425.30
Principal Paid 16,728,286.66
Total Paid to C Holders 16,745,711.96
Class D
Coupon 1.70000 %
Interest Paid 53,351.67
Principal Paid 37,660,000.00
Total Paid to D Holders 37,713,351.67
Class E
Coupon 0.00000 %
Interest Paid 0.00
Principal Paid 19,480,000.00
Total Paid to E Holders 19,480,000.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0883641
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 92.2235373
Total Distribution Amount 92.3119014
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
B Interest Distribution Amount 0.0000000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.0000000
C Interest Distribution Amount 0.3945053
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 378.7250772
Total C Distribution Amount 379.1195825
D Interest Distribution Amount 1.4166668
D Interest Carryover Shortfall 0.0000000
D Principal Distribution Amount 1,000.0000000
Total D Distribution Amount 1,001.4166668
E Interest Distribution Amount 0.0000000
E Interest Carryover Shortfall 0.0000000
E Principal Distribution Amount 1,000.0000000
Total E Distribution Amount 1,000.0000000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 0.00
Noteholders' Fourth Priority Principal Distributable Amount 0.00
Noteholders' Fifth Priority Principal Distributable Amount 0.00
Noteholders' Principal Distributable Amount 1,000.00
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 12,989,245.45
Investment Earnings 57,823.14
Investment Earnings Paid (57,823.14 )
Deposit/(Withdrawal) (12,989,245.45 )
Balance as of 09/16/24 0.00
Change (12,989,245.45 )
Required Reserve Amount 0.00
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 989,285.56 $ 1,547,114.95 $ 1,235,045.10
Number of Extensions 97 132 104
Ratio of extensions to Beginning of Period Receivables Balance 1.08 % 1.59 % 1.20 %

Credit Risk Retention Information

World Omni Financial Corp. ("World Omni"), as "originator" for the purposes of the EU Securitization Rules (as defined in the Sale and Servicing Agreement), continues to retain, a material net economic interest (the "EU Retained Interest"), in the form of retention of a first loss tranche as described in option (d) of Article 6(3) of the EU Securitization Regulation, by holding all the limited liability company interests in World Omni Auto Receivables LLC ("WOAR"), which in turn retains the Certificates (as defined in the Sale and Servicing Agreement) issued by World Omni Select Auto Trust 2020-A, such Certificates representing at least 5% of the aggregate nominal value of the Receivables (as defined in the Sale and Servicing Agreement) in the pool.

World Omni has not (and has not permitted WOAR or any of its other affiliates to subject the EU Retained Interest to any hedge or otherwise mitigate its credit risk under or associated with the EU Retained Interest, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest) subject the EU Retained Interest to any credit risk mitigation or hedging, or sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from the EU Retained Interest, except, in each case to the extent permitted in accordance with the EU Securitization Rules. Further, World Omni has not changed the retention option or method of calculating the EU Retained Interest.