Ford Credit Auto Owner Trust 2021-A
11/21/2024 | Press release | Distributed by Public on 11/21/2024 07:58
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 45 |
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 | $ | 370,291.22 |
| Principal: | ||
| Principal Collections | $ | 9,944,958.24 |
| Prepayments in Full | $ | 3,864,978.21 |
| Liquidation Proceeds | $ | 152,525.66 |
| Recoveries | $ | 90,785.25 |
| Sub Total | $ | 14,053,247.36 |
| Collections | $ | 14,423,538.58 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 43,649.96 |
| Purchase Amounts Related to Interest | $ | 274.99 |
| Sub Total | $ | 43,924.95 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 14,467,463.53 |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 45 |
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 | $ | 14,467,463.53 |
| Servicing Fee | $ | 163,494.98 | $ | 163,494.98 | $ | 0.00 | $ | 0.00 | $ | 14,303,968.55 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,303,968.55 |
| Interest - Class A-2 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,303,968.55 |
| Interest - Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,303,968.55 |
| Interest - Class A-4 Notes | $ | 38,284.53 | $ | 38,284.53 | $ | 0.00 | $ | 0.00 | $ | 14,265,684.02 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,265,684.02 |
| Interest - Class B Notes | $ | 23,024.17 | $ | 23,024.17 | $ | 0.00 | $ | 0.00 | $ | 14,242,659.85 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,242,659.85 |
| Interest - Class C Notes | $ | 18,204.67 | $ | 18,204.67 | $ | 0.00 | $ | 0.00 | $ | 14,224,455.18 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 14,224,455.18 |
| Regular Principal Payment | $ | 13,246,221.43 | $ | 13,246,221.43 | $ | 0.00 | $ | 0.00 | $ | 978,233.75 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 978,233.75 |
| Residual Released to Depositor | $ | 0.00 | $ | 978,233.75 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 14,467,463.53 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 13,246,221.43 | ||||||||
| Total | $ | 13,246,221.43 |
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 | $ | 13,246,221.43 | $ | 98.12 | $ | 38,284.53 | $ | 0.28 | $ | 13,284,505.96 | $ | 98.40 |
| 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 | $ | 13,246,221.43 | $ | 10.07 | $ | 79,513.37 | $ | 0.06 | $ | 13,325,734.80 | $ | 10.13 |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 45 |
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 | $ | 93,758,022.46 | 0.6945039 | $ | 80,511,801.03 | 0.5963837 |
| 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 | $ | 159,548,022.46 | 0.1212482 | $ | 146,301,801.03 | 0.1111817 |
| Pool Information | ||||
| Weighted Average APR | 2.270 | % | 2.267 | % |
| Weighted Average Remaining Term | 23.08 | 22.33 | ||
| Number of Receivables Outstanding | 15,788 | 15,202 | ||
| Pool Balance | $ | 196,193,980.33 | $ | 182,050,452.02 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 185,865,675.52 | $ | 172,619,454.09 |
| Pool Factor | 0.1386041 | 0.1286122 |
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,289,706.63 |
| Yield Supplement Overcollateralization Amount | $ | 9,430,997.93 |
| Targeted Overcollateralization Amount | $ | 35,748,650.99 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 35,748,650.99 |
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 | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 45 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 50 | $ | 137,416.24 | ||
| (Recoveries) | 67 | $ | 90,785.25 | ||
| Net Loss for Current Collection Period | $ | 46,630.99 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.2852% | ||||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | (0.0374) | % | |||
| Second Prior Collection Period | 0.4434 | % | |||
| Prior Collection Period | 0.2490 | % | |||
| Current Collection Period | 0.2959 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.2377 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 1,918 | $ | 6,597,543.65 | ||
| (Cumulative Recoveries) | $ | 1,930,578.04 | |||
| Cumulative Net Loss for All Collection Periods | $ | 4,666,965.61 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.3297 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,439.80 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 2,433.25 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 2.16 | % | 232 | $ | 3,934,393.67 |
| 61-90 Days Delinquent | 0.37 | % | 38 | $ | 673,297.07 |
| 91-120 Days Delinquent | 0.04 | % | 4 | $ | 72,199.96 |
| Over 120 Days Delinquent | 0.24 | % | 20 | $ | 431,134.90 |
| Total Delinquent Receivables | 2.81 | % | 294 | $ | 5,111,025.60 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 12 | $ | 211,002.69 | ||
| Total Repossessed Inventory | 16 | $ | 310,207.67 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.3924 | % | |||
| Prior Collection Period | 0.4244 | % | |||
| Current Collection Period | 0.4078 | % | |||
| Three Month Average | 0.4082 | % | |||
| 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 | 0.6463 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2021-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 45 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 78 | $1,246,403.22 |
| 2 Months Extended | 112 | $2,066,891.96 |
| 3+ Months Extended | 42 | $734,891.55 |
| Total Receivables Extended | 232 | $4,048,186.73 |
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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