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World Omni Auto Receivables Trust 2021-B

09/27/2024 | Press release | Distributed by Public on 09/27/2024 05:18

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2021-B
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 07/31/24 216,210,147.47 19,356
Yield Supplement Overcollateralization Amount 07/31/24 3,107,534.14 0
Receivables Balance 07/31/24 219,317,681.61 19,356
Principal Payments 12,197,026.19 420
Defaulted Receivables 170,107.42 9
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 08/31/24 2,810,375.60 0
Pool Balance at 08/31/24 204,140,172.40 18,927
Pool Statistics $ Amount # of Accounts
Pool Factor 18.76 %
Prepayment ABS Speed 1.09 %
Aggregate Starting Principal Balance 1,102,919,763.19 38,162
Delinquent Receivables:
Past Due 31-60 days 4,375,661.95 276
Past Due 61-90 days 1,435,254.28 85
Past Due 91-120 days 288,748.82 16
Past Due 121+ days 0.00 0
Total 6,099,665.05 377
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.95 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.83 %
Delinquency Trigger Occurred NO
Recoveries 133,301.51
Aggregate Net Losses/(Gains) - August 2024 36,805.91
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio 0.20 %
Prior Net Losses/(Gains) Ratio 0.14 %
Second Prior Net Losses/(Gains) Ratio -0.27 %
Third Prior Net Losses/(Gains) Ratio 0.20 %
Four Month Average 0.07 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.40 %
Overcollateralization Target Amount 5,319,305.21
Actual Overcollateralization 5,319,305.21
Weighted Average Contract Rate 4.08 %
Weighted Average Contract Rate, Yield Adjusted 5.50 %
Weighted Average Remaining Term 26.04
Flow of Funds $ Amount
Collections 13,104,209.67
Investment Earnings on Cash Accounts 16,069.79
Servicing Fee (182,764.73 )
Transfer to Collection Account -
Available Funds 12,937,514.73
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) -
(2) Class A Interest 78,800.04
(3) Noteholders' First Priority Principal Distributable Amount -
(4) Class B Interest 27,664.00
(5) Noteholders' Second Priority Principal Distributable Amount -
(6) Class C Interest 17,157.00
(7) Noteholders' Third Priority Principal Distributable Amount 6,750,669.86
(8) Required Reserve Account -
(9) Noteholders' Principal Distributable Amount 5,319,305.21
(10) Asset Representation Reviewer Amounts (in excess of 1) -
(11) Distribution to Certificateholders 743,918.62
Total Distributions of Available Funds 12,937,514.73
Servicing Fee 182,764.73
Unpaid Servicing Fee -
Change in amount of the unpaid servicing fee from the prior period -
Note Balances & Note Factors $ Amount
Original Class A 1,013,320,000.00
Original Class B 31,920,000.00
Original Class C 15,960,000.00
Total Class A, B, & C
Note Balance @ 08/15/24 210,890,842.26
Principal Paid 12,069,975.07
Note Balance @ 09/16/24 198,820,867.19
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 66,360,842.26
Principal Paid 12,069,975.07
Note Balance @ 09/16/24 54,290,867.19
Note Factor @ 09/16/24 14.7497466 %
Class A-4
Note Balance @ 08/15/24 96,650,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 96,650,000.00
Note Factor @ 09/16/24 100.0000000 %
Class B
Note Balance @ 08/15/24 31,920,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 31,920,000.00
Note Factor @ 09/16/24 100.0000000 %
Class C
Note Balance @ 08/15/24 15,960,000.00
Principal Paid 0.00
Note Balance @ 09/16/24 15,960,000.00
Note Factor @ 09/16/24 100.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 123,621.04
Total Principal Paid 12,069,975.07
Total Paid 12,193,596.11
Class A-1
Coupon 0.11025 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-1 Holders 0.00
Class A-2
Coupon 0.20000 %
Interest Paid 0.00
Principal Paid 0.00
Total Paid to A-2 Holders 0.00
Class A-3
Coupon 0.42000 %
Interest Paid 23,226.29
Principal Paid 12,069,975.07
Total Paid to A-3 Holders 12,093,201.36
Class A-4
Coupon 0.69000 %
Interest Paid 55,573.75
Principal Paid 0.00
Total Paid to A-4 Holders 55,573.75
Class B
Coupon 1.04000 %
Interest Paid 27,664.00
Principal Paid 0.00
Total Paid to B Holders 27,664.00
Class C
Coupon 1.29000 %
Interest Paid 17,157.00
Principal Paid 0.00
Total Paid to C Holders 17,157.00
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.1164917
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 11.3738928
Total Distribution Amount 11.4903845
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 0.0631012
A-3 Interest Carryover Shortfall 0.0000000
A-3 Principal Distribution Amount 32.7917167
Total A-3 Distribution Amount 32.8548179
A-4 Interest Distribution Amount 0.5750000
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 0.0000000
Total A-4 Distribution Amount 0.5750000
B Interest Distribution Amount 0.8666667
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 0.0000000
Total B Distribution Amount 0.8666667
C Interest Distribution Amount 1.0750000
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 0.0000000
Total C Distribution Amount 1.0750000
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 559.29
Noteholders' Principal Distributable Amount 440.71
Account Balances $ Amount
Reserve Account
Balance as of 08/15/24 2,659,652.60
Investment Earnings 11,902.30
Investment Earnings Paid (11,902.30 )
Deposit/(Withdrawal) -
Balance as of 09/16/24 2,659,652.60
Change -
Required Reserve Amount 2,659,652.60
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 1,699,030.24 $ 1,775,751.45 $ 1,365,263.02
Number of Extensions 110 109 81
Ratio of extensions to Beginning of Period Receivables Balance 0.77 % 0.76 % 0.56 %