06/28/2024 | Press release | Distributed by Public on 06/28/2024 04:54
World Omni Auto Receivables Trust 2020-C
Monthly Servicer Certificate
May 31, 2024
Dates Covered | ||||||||||||
Collections Period | 05/01/24 - 05/31/24 | |||||||||||
Interest Accrual Period | 05/15/24 - 06/16/24 | |||||||||||
30/360 Days | 30 | |||||||||||
Actual/360 Days | 33 | |||||||||||
Distribution Date | 06/17/24 | |||||||||||
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 04/30/24 | 177,013,002.30 | 18,841 | ||||||||||
Yield Supplement Overcollateralization Amount 04/30/24 | 2,438,745.14 | 0 | ||||||||||
Receivables Balance 04/30/24 | 179,451,747.44 | 18,841 | ||||||||||
Principal Payments | 11,650,387.03 | 424 | ||||||||||
Defaulted Receivables | 95,975.79 | 6 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 05/31/24 | 2,170,229.57 | 0 | ||||||||||
Pool Balance at 05/31/24 | 165,535,155.05 | 18,411 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 12.72 | % | ||||||||||
Prepayment ABS Speed | 1.11 | % | ||||||||||
Aggregate Starting Principal Balance | 1,318,405,815.29 | 46,124 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 2,133,007.46 | 158 | ||||||||||
Past Due 61-90 days | 672,724.41 | 46 | ||||||||||
Past Due 91-120 days | 130,778.23 | 11 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 2,936,510.10 | 215 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 1.75 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.48 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 113,778.04 | |||||||||||
Aggregate Net Losses/(Gains) - May 2024 | (17,802.25 | ) | ||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | -0.12 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | -0.65 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | -0.01 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | -0.58 | % | ||||||||||
Four Month Average | -0.34 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.32 | % | ||||||||||
Overcollateralization Target Amount | 6,324,057.64 | |||||||||||
Actual Overcollateralization | 6,324,057.64 | |||||||||||
Weighted Average Contract Rate | 4.15 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 5.72 | % | ||||||||||
Weighted Average Remaining Term | 21.93 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 12,376,742.69 | |||||||||||
Investment Earnings on Cash Accounts | 57,969.98 | |||||||||||
Servicing Fee | (149,543.12 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 12,285,169.55 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | 0.00 | |||||||||||
(2) Class A Interest | 56,941.41 | |||||||||||
(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 | 5,153,789.61 | |||||||||||
(8) Required Reserve Account | 0.00 | |||||||||||
(9) Noteholders' Principal Distributable Amount | 6,324,057.64 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | 0.00 | |||||||||||
(11) Distribution to Certificateholders | 701,105.14 | |||||||||||
Total Distributions of Available Funds | 12,285,169.55 | |||||||||||
Servicing Fee | 149,543.12 | |||||||||||
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 @ 05/15/24 | 170,688,944.66 | |||||||||||
Principal Paid | 11,477,847.25 | |||||||||||
Note Balance @ 06/17/24 | 159,211,097.41 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 05/15/24 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 0.00 | |||||||||||
Note Factor @ 06/17/24 | 0.0000000 | % | ||||||||||
Class A-2 | ||||||||||||
Note Balance @ 05/15/24 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 0.00 | |||||||||||
Note Factor @ 06/17/24 | 0.0000000 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 05/15/24 | 9,398,944.66 | |||||||||||
Principal Paid | 9,398,944.66 | |||||||||||
Note Balance @ 06/17/24 | 0.00 | |||||||||||
Note Factor @ 06/17/24 | 0.0000000 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 05/15/24 | 104,620,000.00 | |||||||||||
Principal Paid | 2,078,902.59 | |||||||||||
Note Balance @ 06/17/24 | 102,541,097.41 | |||||||||||
Note Factor @ 06/17/24 | 98.0129014 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 05/15/24 | 37,770,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 37,770,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 05/15/24 | 18,900,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 06/17/24 | 18,900,000.00 | |||||||||||
Note Factor @ 06/17/24 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 106,217.16 | |||||||||||
Total Principal Paid | 11,477,847.25 | |||||||||||
Total Paid | 11,584,064.41 | |||||||||||
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 | 3,759.58 | |||||||||||
Principal Paid | 9,398,944.66 | |||||||||||
Total Paid to A-3 Holders | 9,402,704.24 | |||||||||||
Class A-4 | ||||||||||||
Coupon | 0.61000 | % | ||||||||||
Interest Paid | 53,181.83 | |||||||||||
Principal Paid | 2,078,902.59 | |||||||||||
Total Paid to A-4 Holders | 2,132,084.42 | |||||||||||
Class B | ||||||||||||
Coupon | 0.87000 | % | ||||||||||
Interest Paid | 27,383.25 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to B Holders | 27,383.25 | |||||||||||
Class C | ||||||||||||
Coupon | 1.39000 | % | ||||||||||
Interest Paid | 21,892.50 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to C Holders | 21,892.50 |
Distribution per $1,000 of Notes | Total | |||||||||||
Total Interest Distribution Amount | 0.0845853 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 9.1403055 | |||||||||||
Total Distribution Amount | 9.2248908 | |||||||||||
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 | 0.0090221 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 22.5551215 | |||||||||||
Total A-3 Distribution Amount | 22.5641436 | |||||||||||
A-4 Interest Distribution Amount | 0.5083333 | |||||||||||
A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-4 Principal Distribution Amount | 19.8709863 | |||||||||||
Total A-4 Distribution Amount | 20.3793196 | |||||||||||
B Interest Distribution Amount | 0.7250000 | |||||||||||
B Interest Carryover Shortfall | 0.0000000 | |||||||||||
B Principal Distribution Amount | 0.0000000 | |||||||||||
Total B Distribution Amount | 0.7250000 | |||||||||||
C Interest Distribution Amount | 1.1583333 | |||||||||||
C Interest Carryover Shortfall | 0.0000000 | |||||||||||
C Principal Distribution Amount | 0.0000000 | |||||||||||
Total C Distribution Amount | 1.1583333 | |||||||||||
Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 449.02 | |||||||||||
Noteholders' Principal Distributable Amount | 550.98 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 05/15/24 | 12,588,844.52 | |||||||||||
Investment Earnings | 56,080.42 | |||||||||||
Investment Earnings Paid | (56,080.42 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 06/17/24 | 12,588,844.52 | |||||||||||
Change | - | |||||||||||
Required Reserve Amount | 12,588,844.52 |
Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||||
Principal Balance of Receivables extended during the Collection Period | $ | 667,712.91 | $ | 967,913.79 | $ | 801,727.24 | ||||||
Number of Extensions | 57 | 73 | 60 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.37 | % | 0.50 | % | 0.39 | % |