World Omni Auto Receivables Trust 2020-C

10/29/2024 | Press release | Distributed by Public on 10/29/2024 04:49

Asset Backed Issuer Distribution Report Form 10 D

World Omni Auto Receivables Trust 2020-C
Monthly Servicer Certificate
September 30, 2024
Dates Covered
Collections Period 09/01/24 - 09/30/24
Interest Accrual Period 09/16/24 - 10/14/24
30/360 Days 30
Actual/360 Days 29
Distribution Date 10/15/24
Collateral Pool Balance Data $ Amount # of Accounts
Pool Balance at 08/31/24 133,233,654.31 17,275
Yield Supplement Overcollateralization Amount 08/31/24 1,494,921.01 0
Receivables Balance 08/31/24 134,728,575.32 17,275
Principal Payments 10,011,583.05 393
Defaulted Receivables 97,759.39 9
Repurchased Accounts 0.00 0
Yield Supplement Overcollateralization Amount at 09/30/24 1,310,883.11 0
Pool Balance at 09/30/24 123,308,349.77 16,873
Pool Statistics $ Amount # of Accounts
Pool Factor 9.45 %
Prepayment ABS Speed 1.10 %
Aggregate Starting Principal Balance 1,318,405,815.29 46,124
Delinquent Receivables:
Past Due 31-60 days 2,332,354.87 204
Past Due 61-90 days 572,226.95 45
Past Due 91-120 days 178,159.39 14
Past Due 121+ days 0.00 0
Total 3,082,741.21 263
Total 31+ Delinquent as % Aggregate Ending Principal Balance 2.47 %
Total 61+ Delinquent as % Aggregate Ending Principal Balance 0.60 %
Delinquency Trigger Occurred NO
Recoveries 211,522.62
Aggregate Net Losses/(Gains) - September 2024 (113,763.23 )
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized):
Current Net Losses/(Gains) Ratio -1.01 %
Prior Net Losses/(Gains) Ratio -0.30 %
Second Prior Net Losses/(Gains) Ratio -0.25 %
Third Prior Net Losses/(Gains) Ratio 0.24 %
Four Month Average -0.33 %
Cumulative Net Loss as a % of Aggregate Starting Principal Balance 0.31 %
Overcollateralization Target Amount 6,324,057.64
Actual Overcollateralization 123,308,349.77
Weighted Average Contract Rate 4.26 %
Weighted Average Contract Rate, Yield Adjusted 5.74 %
Weighted Average Remaining Term 18.67
Flow of Funds $ Amount
Collections 10,696,291.20
Investment Earnings on Cash Accounts 53,771.83
Reserve Fund Balance 12,588,844.52
Servicing Fee (112,273.81 )
Aggregate Purchase Amount 124,716,992.27
Transfer to Collection Account -
Available Funds 147,943,626.01
Distributions of Available Funds
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) 0.00
(2) Class A Interest 35,705.13
(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 3,601,246.90
(8) Required Reserve Account 0.00
(9) Noteholders' Principal Distributable Amount 123,308,349.77
(10) Asset Representation Reviewer Amounts (in excess of 1) 0.00
(11) Distribution to Certificateholders 20,949,048.46
Total Distributions of Available Funds 147,943,626.01
Servicing Fee 112,273.81
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 @ 09/16/24 126,909,596.67
Principal Paid 126,909,596.67
Note Balance @ 10/15/24 0.00
Class A-1
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-2
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-3
Note Balance @ 09/16/24 0.00
Principal Paid 0.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class A-4
Note Balance @ 09/16/24 70,239,596.67
Principal Paid 70,239,596.67
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class B
Note Balance @ 09/16/24 37,770,000.00
Principal Paid 37,770,000.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Class C
Note Balance @ 09/16/24 18,900,000.00
Principal Paid 18,900,000.00
Note Balance @ 10/15/24 0.00
Note Factor @ 10/15/24 0.0000000 %
Interest & Principal Payments $ Amount
Total Interest Paid 84,980.88
Total Principal Paid 126,909,596.67
Total Paid 126,994,577.55
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 35,705.13
Principal Paid 70,239,596.67
Total Paid to A-4 Holders 70,275,301.80
Class B
Coupon 0.87000 %
Interest Paid 27,383.25
Principal Paid 37,770,000.00
Total Paid to B Holders 37,797,383.25
Class C
Coupon 1.39000 %
Interest Paid 21,892.50
Principal Paid 18,900,000.00
Total Paid to C Holders 18,921,892.50
Distribution per $1,000 of Notes Total
Total Interest Distribution Amount 0.0676739
Total Interest Carryover Shortfall 0.0000000
Total Principal Distribution Amount 101.0635933
Total Distribution Amount 101.1312672
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 0.3412840
A-4 Interest Carryover Shortfall 0.0000000
A-4 Principal Distribution Amount 671.3782897
Total A-4 Distribution Amount 671.7195737
B Interest Distribution Amount 0.7250000
B Interest Carryover Shortfall 0.0000000
B Principal Distribution Amount 1000.0000000
Total B Distribution Amount 1,000.7250000
C Interest Distribution Amount 1.1583333
C Interest Carryover Shortfall 0.0000000
C Principal Distribution Amount 1000.0000000
Total C Distribution Amount 1,001.1583333
Noteholders' First Priority Principal Distributable Amount 0.00
Noteholders' Second Priority Principal Distributable Amount 0.00
Noteholders' Third Priority Principal Distributable Amount 28.38
Noteholders' Principal Distributable Amount 971.62
Account Balances $ Amount
Reserve Account
Balance as of 09/16/24 12,588,844.52
Investment Earnings 52,148.52
Investment Earnings Paid (52,148.52 )
Deposit/(Withdrawal) (12,588,844.52 )
Balance as of 10/15/24 0.00
Change (12,588,844.52 )
Required Reserve Amount 0.00
Other Servicing Information Current Month Prior Month Two Months Prior
Principal Balance of Receivables extended during the Collection Period $ 662,312.40 $ 676,161.34 $ 1,005,957.72
Number of Extensions 65 62 86
Ratio of extensions to Beginning of Period Receivables Balance 0.49 % 0.46 % 0.64 %