Ford Credit Auto Owner Trust 2021-A
09/20/2024 | Press release | Distributed by Public on 09/20/2024 08:07
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 43 |
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-225949 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
| Dollar Amount | # of Receivables | Weighted Avg Remaining Term at Cutoff | |||
| Initial Pool Balance | $ | 1,415,499,059.21 | 43,920 | 59.5 months | |
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||
| Original Securities: | |||||
| Class A-1 Notes | $ | 204,970,000.00 | 0.11941 | % | March 15, 2022 |
| Class A-2 Notes | $ | 455,060,000.00 | 0.17 | % | October 15, 2023 |
| Class A-3 Notes | $ | 455,060,000.00 | 0.30 | % | August 15, 2025 |
| Class A-4 Notes | $ | 135,000,000.00 | 0.49 | % | September 15, 2026 |
| Class B Notes | $ | 39,470,000.00 | 0.70 | % | October 15, 2026 |
| Class C Notes | $ | 26,320,000.00 | 0.83 | % | August 15, 2028 |
| Total | $ | 1,315,880,000.00 | |||
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 428,407.71 |
| Principal: | ||
| Principal Collections | $ | 10,580,186.43 |
| Prepayments in Full | $ | 3,378,577.56 |
| Liquidation Proceeds | $ | 74,453.07 |
| Recoveries | $ | 29,500.22 |
| Sub Total | $ | 14,062,717.28 |
| Collections | $ | 14,491,124.99 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 0.00 |
| Purchase Amounts Related to Interest | $ | 0.00 |
| Sub Total | $ | 0.00 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 14,491,124.99 |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 43 |
III. DISTRIBUTIONS
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,491,124.99 |
| Servicing Fee | $ | 186,626.72 | $ | 186,626.72 | $ | 0.00 | $ | 0.00 | $ | 14,304,498.27 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,304,498.27 |
| Interest - Class A-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,304,498.27 |
| Interest - Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,304,498.27 |
| Interest - Class A-4 Notes | $ | 48,801.01 | $ | 48,801.01 | $ | 0.00 | $ | 0.00 | $ | 14,255,697.26 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,255,697.26 |
| Interest - Class B Notes | $ | 23,024.17 | $ | 23,024.17 | $ | 0.00 | $ | 0.00 | $ | 14,232,673.09 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,232,673.09 |
| Interest - Class C Notes | $ | 18,204.67 | $ | 18,204.67 | $ | 0.00 | $ | 0.00 | $ | 14,214,468.42 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,214,468.42 |
| Regular Principal Payment | $ | 13,082,971.79 | $ | 13,082,971.79 | $ | 0.00 | $ | 0.00 | $ | 1,131,496.63 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,131,496.63 |
| Residual Released to Depositor | $ | 0.00 | $ | 1,131,496.63 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 14,491,124.99 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 13,082,971.79 | ||||||||
| Total | $ | 13,082,971.79 |
IV. NOTEHOLDER PAYMENTS
| Noteholder Principal Payments | Noteholder Interest Payments | Total Payment | ||||||||||
| Per $1,000 of | Per $1,000 of | Per $1,000 of | ||||||||||
| Actual | Original Balance | Actual | Original Balance | Actual | Original Balance | |||||||
| Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-4 Notes | $ | 13,082,971.79 | $ | 96.91 | $ | 48,801.01 | $ | 0.36 | $ | 13,131,772.80 | $ | 97.27 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 23,024.17 | $ | 0.58 | $ | 23,024.17 | $ | 0.58 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 18,204.67 | $ | 0.69 | $ | 18,204.67 | $ | 0.69 |
| Total | $ | 13,082,971.79 | $ | 9.94 | $ | 90,029.85 | $ | 0.07 | $ | 13,173,001.64 | $ | 10.01 |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 43 |
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | |||||
| Balance | Note Factor | Balance | Note Factor | |||
| Class A-1 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-2 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-3 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-4 Notes | $ | 119,512,679.90 | 0.8852791 | $ | 106,429,708.11 | 0.7883682 |
| Class B Notes | $ | 39,470,000.00 | 1.0000000 | $ | 39,470,000.00 | 1.0000000 |
| Class C Notes | $ | 26,320,000.00 | 1.0000000 | $ | 26,320,000.00 | 1.0000000 |
| Total | $ | 185,302,679.90 | 0.1408203 | $ | 172,219,708.11 | 0.1308780 |
| Pool Information | ||||
| Weighted Average APR | 2.273 | % | 2.274 | % |
| Weighted Average Remaining Term | 24.63 | 23.87 | ||
| Number of Receivables Outstanding | 16,850 | 16,311 | ||
| Pool Balance | $ | 223,952,067.31 | $ | 209,809,207.61 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 211,689,907.34 | $ | 198,537,361.17 |
| Pool Factor | 0.1582142 | 0.1482228 |
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,289,706.63 |
| Yield Supplement Overcollateralization Amount | $ | 11,271,846.44 |
| Targeted Overcollateralization Amount | $ | 37,589,499.50 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 37,589,499.50 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,289,706.63 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 3,289,706.63 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 3,289,706.63 |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 43 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 42 | $ | 109,642.64 | ||
| (Recoveries) | 58 | $ | 29,500.22 | ||
| Net Loss for Current Collection Period | $ | 80,142.42 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.4294% | ||||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.5939 | % | |||
| Second Prior Collection Period | 0.1945 | % | |||
| Prior Collection Period | (0.0374) | % | |||
| Current Collection Period | 0.4434 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.2986 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,827 | $ | 6,335,560.17 | ||
| (Cumulative Recoveries) | $ | 1,757,353.95 | |||
| Cumulative Net Loss for All Collection Periods | $ | 4,578,206.22 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3234 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,467.74 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 2,505.86 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 1.88 | % | 229 | $ | 3,941,638.00 |
| 61-90 Days Delinquent | 0.40 | % | 39 | $ | 833,965.97 |
| 91-120 Days Delinquent | 0.07 | % | 8 | $ | 149,383.90 |
| Over 120 Days Delinquent | 0.19 | % | 17 | $ | 399,245.58 |
| Total Delinquent Receivables | 2.54 | % | 293 | $ | 5,324,233.45 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 2 | $ | 58,631.94 | ||
| Total Repossessed Inventory | 9 | $ | 195,434.08 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.2873 | % | |||
| Prior Collection Period | 0.3264 | % | |||
| Current Collection Period | 0.3924 | % | |||
| Three Month Average | 0.3354 | % | |||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||
| Transaction Month | Trigger | ||||
| 1-12 | 0.70% | ||||
| 13-24 | 1.30% | ||||
| 25-36 | 2.30% | ||||
| 37+ | 3.60% | ||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.6590 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | August 2024 |
| Payment Date | 9/16/2024 |
| Transaction Month | 43 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 59 | $1,028,431.50 |
| 2 Months Extended | 85 | $1,548,032.96 |
| 3+ Months Extended | 23 | $479,805.18 |
| Total Receivables Extended | 167 | $3,056,269.64 |
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
| No Activity to report |
| Most Recent Form ABS-15G for repurchase demand activity |
| Filed by: Ford Motor Credit Company LLC |
| CIK#: 0000038009 |
| Date: February 5, 2024 |
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
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