07/23/2024 | Press release | Distributed by Public on 07/23/2024 14:31
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-3 Owner Trust |
Collection Period: June 1, 2024 through June 30, 2024 |
Deal Age |
35 |
Determination Date: 07/15/2024 |
Actual/360 Days |
30 |
Record Date: 07/17/2024 |
30/360 Days |
30 |
Payment Date: 07/18/2024 |
ORIGINAL DEAL PARAMETERS
Dollar Amount |
Number of Receivables |
||
Total Portfolio Balance |
$ |
1,619,434,213.76 |
86,105 |
Accrual Basis |
Dollar Amount |
% of Pool |
Interest Rate |
Final Scheduled |
||||
Class A-1 Notes |
Actual/360 |
$ |
346,000,000.00 |
21.37 |
% |
0.115 |
% |
August 18, 2022 |
Class A-2 Notes |
30/360 |
$ |
549,000,000.00 |
33.90 |
% |
0.200 |
% |
February 20, 2024 |
Class A-3 Notes |
30/360 |
$ |
549,000,000.00 |
33.90 |
% |
0.410 |
% |
November 18, 2025 |
Class A-4 Notes |
30/360 |
$ |
134,948,000.00 |
8.33 |
% |
0.600 |
% |
December 20, 2027 |
Certificates |
30/360 |
$ |
40,486,213.76 |
2.50 |
% |
0.000 |
% |
|
Total Securities Balance |
$ |
1,619,434,213.76 |
||||||
Total Note Balance |
$ |
1,578,948,000.00 |
||||||
Reserve Account Initial Deposit |
$ |
4,048,585.53 |
||||||
Yield Supplement Account Deposit |
$ |
51,579,559.48 |
COLLECTIONS
Interest Collections |
||
Simple Interest Collections |
$ |
538,795.28 |
Interest Related to Repurchased Receivables |
$ |
0.00 |
Interest Advance for simple Interest - Net * |
$ |
0.00 |
Total Interest Collections |
$ |
538,795.28 |
* Advances are reimbursed (including non-recoverable advances of $0.00): |
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
Principal Collections |
||
Principal Collections |
$ |
16,968,511.35 |
Prepayments in Full |
$ |
3,573,606.73 |
Liquidation Proceeds |
$ |
24,166.01 |
Principal Related to Repurchased Receivables |
$ |
0.00 |
Recoveries from Prior Month Charge Offs |
$ |
114,113.09 |
Total Principal Collections |
$ |
20,680,397.18 |
Total Interest and Principal Collections |
$ |
21,219,192.46 |
Yield Supplement Deposit |
$ |
476,938.67 |
Collection Account Investment Earnings |
$ |
0.00 |
Total Available Amount |
$ |
21,696,131.13 |
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-3 Owner Trust |
Collection Period: June 1, 2024 through June 30, 2024 |
Deal Age |
35 |
Determination Date: 07/15/2024 |
Actual/360 Days |
30 |
Record Date: 07/17/2024 |
30/360 Days |
30 |
Payment Date: 07/18/2024 |
DISTRIBUTIONS
Note Percentage |
100.00 |
% |
||||||
Certificate Percentage |
0.00 |
% |
Amount Due |
Amount Paid |
Shortfall |
|||
Total Servicing Fee |
1.00 |
% |
$ |
259,492.84 |
$ |
259,492.84 |
$ |
0.00 |
Trustee Fees |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Asset Representations Reviewer Fees (Accrued & Unpaid) |
$ |
0.00 |
||||||
Interest - Class A-1 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Interest - Class A-2 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Interest - Class A-3 Notes |
$ |
46,452.04 |
$ |
46,452.04 |
$ |
0.00 |
||
Interest - Class A-4 Notes |
$ |
67,474.00 |
$ |
67,474.00 |
$ |
0.00 |
||
Total Monthly Interest |
$ |
113,926.04 |
$ |
113,926.04 |
$ |
0.00 |
||
Principal - Class A-1 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Principal - Class A-2 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Principal - Class A-3 Notes |
$ |
20,642,755.79 |
$ |
20,642,755.79 |
$ |
0.00 |
||
Principal - Class A-4 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Total Monthly Principal |
$ |
20,642,755.79 |
$ |
20,642,755.79 |
$ |
0.00 |
||
Interest - Certificates |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
||
Principal - Certificates |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
Available to Deposit |
Reserve Deposit |
Reserve Draw |
Excess Released |
Released to Seller |
||||||
Reserve Account Deposit |
$ |
679,956.46 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
679,956.46 |
Noteholder/Certificateholder Distributions |
Fee |
Interest |
Interest |
Principal |
Principal |
Amount |
||||
Servicing Fee |
$ |
0.16 |
$ |
259,492.84 |
||||||
Trustee Fees |
$ |
0.00 |
||||||||
Asset Representation Reviewer Fees |
$ |
0.00 |
||||||||
Class A-1 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
Class A-2 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
Class A-3 Notes |
$ |
0.08 |
$ |
0.00 |
$ |
37.60 |
$ |
0.00 |
$ |
20,689,207.83 |
Class A-4 Notes |
$ |
0.50 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
67,474.00 |
Certificates |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-3 Owner Trust |
Collection Period: June 1, 2024 through June 30, 2024 |
Deal Age |
35 |
Determination Date: 07/15/2024 |
Actual/360 Days |
30 |
Record Date: 07/17/2024 |
30/360 Days |
30 |
Payment Date: 07/18/2024 |
POOL DATA
Proceeding Month |
||||||||||
Carryover Shortfall |
Beginning of Period |
End of Period |
||||||||
Interest |
Principal |
Balance |
Note Factor |
Balance |
Note Factor |
|||||
Class A-1 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
0.0000000 |
$ |
0.00 |
0.0000000 |
Class A-2 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
0.00 |
0.0000000 |
$ |
0.00 |
0.0000000 |
Class A-3 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
135,957,197.01 |
0.2476452 |
$ |
115,314,441.22 |
0.2100445 |
Class A-4 Notes |
$ |
0.00 |
$ |
0.00 |
$ |
134,948,000.00 |
1.0000000 |
$ |
134,948,000.00 |
1.0000000 |
Certificates |
$ |
0.00 |
$ |
0.00 |
$ |
40,486,213.76 |
1.0000000 |
$ |
40,486,213.76 |
1.0000000 |
Total Securities |
$ |
311,391,410.77 |
0.1922841 |
$ |
290,748,654.98 |
0.1795372 |
||||
Total Notes |
$ |
270,905,197.01 |
0.1715732 |
$ |
250,262,441.22 |
0.1584995 |
Portfolio Information |
Original |
Prior Month |
Current Month |
|||
Weighted Average Coupon (WAC) |
2.43 |
% |
2.12 |
% |
2.12 |
% |
Weighted Average Remaining Maturity (WAM) |
49.44 |
20.89 |
20.11 |
|||
Weighted Average Original Maturity (WAOM) |
61.72 |
|||||
Remaining Number of Receivables |
86,105 |
38,766 |
37,709 |
|||
Portfolio Receivable Balance |
$ |
1,619,434,213.76 |
$ |
311,391,410.77 |
$ |
290,748,654.98 |
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Account Activity |
Amount |
||
Gross Principal Balance on Defaulted Receivables |
$ |
100,637.71 |
|
Liquidation Proceeds |
$ |
24,166.01 |
|
Recoveries on Previously Defaulted Contracts |
$ |
114,113.09 |
|
Aggregate Net Losses for Collection Period |
$ |
(37,641.39 |
) |
Net Loss Rate for Collection Period's Average Balance (annualized) |
-0.15 |
% |
|
Cumulative Net Losses for all Periods |
$ |
2,035,559.22 |
Delinquent Receivables |
# Units |
% Unit |
Dollar Amount |
% Dollar |
|||
31-60 Days Delinquent |
210 |
0.56 |
% |
$ |
2,214,389.98 |
0.76 |
% |
61-90 Days Delinquent |
54 |
0.14 |
% |
$ |
531,854.64 |
0.18 |
% |
91-120 Days Delinquent |
9 |
0.02 |
% |
$ |
86,655.11 |
0.03 |
% |
121 Days or More Delinquent |
0 |
0.00 |
% |
$ |
0.00 |
0.00 |
% |
Repossession Activity |
# Units |
% Unit |
Dollar Amount |
% Dollar |
|||
Vehicles Repossessed During Collection Period |
6 |
0.02 |
% |
$ |
68,081.14 |
0.02 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
23 |
0.06 |
% |
$ |
337,106.17 |
0.12 |
% |
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-3 Owner Trust |
Collection Period: June 1, 2024 through June 30, 2024 |
Deal Age |
35 |
Determination Date: 07/15/2024 |
Actual/360 Days |
30 |
Record Date: 07/17/2024 |
30/360 Days |
30 |
Payment Date: 07/18/2024 |
DELINQUENCY AND NET LOSS ACTIVITY
Net Loss and Delinquency Ratios |
||
Ratio of Net Losses to the Pool Balance as of Each Collection Period |
||
Third Preceding Collection Period |
-0.01 |
% |
Second Preceding Collection Period |
-0.14 |
% |
Preceding Collection Period |
-0.06 |
% |
Current Collection Period |
-0.15 |
% |
Four Month Average |
-0.09 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
||
Second Preceding Collection Period |
0.19 |
% |
Preceding Collection Period |
0.21 |
% |
Current Collection Period |
0.23 |
% |
Three Month Average |
0.21 |
% |
Delinquency Trigger |
4.80% |
Delinquency Percentage exceeds Delinquency Trigger: |
No |
Delinquency Percentage - |
0.21% |
||
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
LOSS AND CUMULATIVE LOSS INFORMATION
Current Month |
Cumulative |
||||||
For Assets Experiencing a Loss: |
Units |
Amount |
Units |
Amount |
|||
Gross Principal |
9 |
$ |
100,637.71 |
309 |
$ |
4,985,893.11 |
|
Liquidation Proceeds and Recoveries |
42 |
$ |
137,471.86 |
264 |
$ |
2,910,581.87 |
|
Net Loss Amount |
9 |
$ |
(36,834.15 |
) |
309 |
$ |
2,075,311.24 |
Net Loss % of Average |
-0.15 |
% |
|||||
Cumulative Net Loss % |
0.13 |
% |
|||||
Average Net Loss of |
$ |
6,716.22 |
CREDIT ENHANCEMENT
Reconciliation of Reserve Account |
Reconciliation of Yield Supplement Account |
|||||
Beginning Reserve Account Balance |
$ |
4,048,585.53 |
Beginning Yield Supplement |
$ |
4,557,685.57 |
|
Investment Earnings |
$ |
17,259.79 |
Investment Earnings |
$ |
20,621.53 |
|
Excess Interest Deposited into the Reserve Account |
$ |
0.00 |
Additional Yield Supplement Amounts |
$ |
0.00 |
|
Investment Withdrawal to Seller |
$ |
(17,259.79 |
) |
Yield Supplement Withdrawal Amount |
$ |
476,938.67 |
Release of Reserve to Collection Account |
$ |
0.00 |
Investment Earnings Withdraw |
$ |
0.00 |
|
Release of Reserve to Seller |
$ |
0.00 |
Release of Yield Supplement Account Balance to Seller |
$ |
0.00 |
|
Ending Reserve Account Balance |
$ |
4,048,585.53 |
Ending Yield Supplement Account Balance |
$ |
4,101,368.43 |
|
Reserve Account Required Amount |
$ |
4,048,585.53 |
SERVICER'S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2021-3 Owner Trust |
Collection Period: June 1, 2024 through June 30, 2024 |
Deal Age |
35 |
Determination Date: 07/15/2024 |
Actual/360 Days |
30 |
Record Date: 07/17/2024 |
30/360 Days |
30 |
Payment Date: 07/18/2024 |
REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
Is there any activity to report? |
No |
STATEMENT TO NOTEHOLDERS
Has there been a material change in practices with respect to charge-offs, collection and management of delinquent receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
No |
Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
No |
Have there been any material breaches of representations, warranties or covenants contained in the receivables? |
No |
Has there been an issuance of notes or other securities backed by the receivables? |
No |
Has there been a material change in the underwriting, origination or acquisition of receivables? |
No |
SERVICER CERTIFICATION
I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. |
/s/ Paul C. Honda |
Paul C. Honda |
Vice President-Finance & Administration and Assistant Secretary |